Section 13 in Tamil Nadu Infrastructure Development Rules, 2012
13. Releases from the Tamil Nadu Infrastructure Development Fund.
(1)The releases of assistance from the Infrastructure Development Fund shall be in accordance with the schedule provided for in the Concession Agreement and subject to fulfilment of the conditions laid down therein;(2)The Sponsoring Agency shall make an application for release of the support from the Infrastructure Development Fund in the format provided in Appendix IV duly certifying the fulfilment of all conditions including that the concessionaire and the lending institutions have fulfilled their respective commitments;(3)Upon satisfying himself that the release is in accordance with the Board's approval and the conditions laid down in the Concession Agreement, the CEO shall recommend to the Government the release of funds to the sponsoring agency or the Lead Financial Institution or the Concessionaire, as the case may be;(4)The CEO may, in order to avoid any delay in payments, recommend a release in advance of the due date to the Sponsoring Agency and such agency shall be responsible for ensuring compliance with the conditions laid down in the concession agreement before further release of financial support to the Lead Financial Institution or to the Concessionaire;(5)The Government in the Finance (Infrastructure) Department shall sanction releases of funds from the Tamil Nadu Infrastructure Development Fund based on the approvals and recommendations of the Board.
