Section 58 in The Punjab State Aid to Industries Rules, 1936
58. Recovery of subsidy with interest.
- The amount of subsidy with interest at the rate of 9 per cent per annum shall be recovery in lump sum in the same manner as if it were a loan granted under the Act, -(i)if it is not utilised within the stipulated period; or(ii)if on inspection of the industry, the Director is satisfied that the amount of subsidy is not applied to the purpose or purposes for which it was granted; or(iii)if the conditions on which it was granted were not duly fulfilled;
