Section 38 in The Punjab State Aid to Industries Rules, 1936
38. Grant of provisional loan.
(1)If the application in Form 'V' is submitted before the completion of assessment by the Assessing Authority, the eligible unit shall furnish the following documents with the application :-(a)A certificate from the Assessing authority certifying the taxes paid by the eligible unit; and(b)A certificate from the Chartered Accountant indicating the gross value and break-up of the fixed assets of the eligible unit as per column 9 of the said application,(c)The affidavit to the effect that all goods manufactured by units in the State of Haryana have been sold either in the course of Inter-State trade or commerce or exported outside India or sold within the State of Haryana.(2)On the basis of the applications made by the eligible unit and after calling for such further information as the Director of Industries may deem necessary, the loan to extent of 75 percentum of the permissible amount of loan may be granted.(3)The final claim of the eligible unit for the loan admissible to it shall be examined after completion of assessment and after production of certificate in Form 'W' from the concerned authority.(4)The eligible unit shall be entitled to the grant of further loan to the extent of the difference between the amount finally admissible under rule 39 and the amount already disbursed provisionally under sub-rule (2) above.(5)If the final amount of the loan is less than the amount provisionally disbursed, the eligible unit shall refund the excess amount immediately to the Director of Industries together with interest at the rate of 9 percentum per annum. The interest shall be calculated from the date of disbursement of provisional loan till the date of its repayment.
