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[Cites 0, Cited by 0] [Section 16] [Entire Act]

Union of India - Subsection

Section 16(10) in The Sugar Development Fund Rules, 1983

(10)[Omitted] [[[Repayment of the loan granted under this rule and payment of interest thereon shall, if the terms and conditions of the agreement so provide, be made by the sugar undertaking through the financial institution and such repayment and payment shall run concurrently with the repayment and payment to the financial institution of the loan paid by that institution under its relevant scheme for modernisation and rehabilitation:Provided that the amount of each instalment of repayment of the loan under this rule shall bear the same proportion to the corresponding instalment payable to the financial institution as the amount of loan granted from the Fund has to the amount of the loan granted under the relevant scheme of that institution for modernisation and rehabilitation.]]]