Section 8(1) in The Short Term Loan Scheme for Modernisation of Sugar Factories For Simultaneous Processing of Raw Sugar with Crushing of Sugar Cane
(1)The sugar factory shall give either a bank guarantee or a first charge on its assets on pari passu basis failing which second exclusive charge on its assets, as security for the loan depending upon the fixed assets coverage ratio of the sugar factory existing on the date of last balance sheet.
