Section 17(2) in The Sugar Development Fund Rules, 1983
(2)Loan to a sugar undertaking under this rule shall be disbursed only through the Government of the State in which the sugar factory is located, upon the sugar undertaking executing an agreement on such terms and conditions as the Central Government may decided in consultation with the Government of the state, including a provision for monitoring by the State Government of utilisation of the loan, the progress of the scheme for which the loan is advanced, repayment of the loan with interest and remittance to the credit of the Fund.[Provided that the Central Government may appoint any agency for monitoring of utilisation, progress of the implementation of the scheme and achievement of physical and financial targets of the scheme for which the loan is advanced and such agency shall give its report directly to the Central Government] [Inserted vide GSR 599 dated 30.07.2012.]
