Section 4 in Bihar Industrial Investment Promotion Rules, 2016
4. Procedure of the State Investment Promotion Board.
(1)The Board shall meet every month on a fixed date to be announced by the Department at the previous meeting of the Board. In case the date so fixed falls on a holiday, the meeting shall be held on the next succeeding date without any further notice.(2)The State Board may hold more than one meeting in a month as decided by the Chairman of the State Board however it shall be mandatory to hold at least one meeting every month.(3)The meeting shall not be postponed due to the absence of any member including the Chairman. In the absence of the Chairman, the next senior most official member shall preside over the meeting.(4)Membership of the Board is by designation and substitution by another functionary may be permitted only in extra ordinary circumstances with the permission of the Chairman.(5)There shall be a quorum of five members excluding the Chairman for the meeting of the Board. No decision on an item shall be deferred for want of representation by any Department or Agency.(6)Proposals placed for consideration before the Board shall be either approved or appropriate decision shall be taken. In case the Board decides to defer the matter for any clarifications, the reason shall be properly recorded in the proceedings.(7)The Board shall review the working of the Secretariat monthly, with particular reference to the adherence to time limits and the completeness of proposals placed before the Board.(8)The Board shall take a decision on the following:(i)Review the list of clearances to be provided by the Secretariat(ii)Review the list of clearances to be provided on the basis of self-declaration(iii)Approval of Common Application Form(iv)Review the Fees and Deposits for application under SIPB(v)Guide and advise the Department on issues and clarifications related to the Policy(9)The Board shall review the following issues as part of the Agenda in every meeting of the Board:(i)Review the status of investment proposal and its approval status(ii)Review the status of investment proposals approved by the Board and their implementation status(iii)Review the status of clearances accorded to the approved investment proposal(iv)Review the number of investment proposals where deemed approval had to be granted and reason for according such deemed approval(v)Review the bottlenecks in obtaining clearances for approved proposals and undertaking necessary actions to resolve(vi)Review the status of loan sanctioned and approved by banks/ Financial Institutions to the approved proposals(vii)Review the implementation of the policy(viii)Review the status of financial incentives processed and disbursed(ix)Any other functions as assigned by the State Government from time to time.(10)The Board shall recommend action against the competent authority if the competent authority has not carried the prescribed responsibility under the act.
