Section 16A in The Sugar Development Fund Rules, 1983
16A. [ [Inserted vide GSR 508(E) dated 7.7.09.]
(1)The Central Government, having regard to the availability of sugar and such other factors as it may consider necessary, and after consultation with the Committee, may sanction and notify schemes, to give loans for modernisation of sugar factories to purchase and install machinery and equipment required for simultaneous processing of raw sugar with crushing of cane for the manufacture of sugar.(2)under sub-rule (1) the schemes may provide for the following, namely:(i)the amount of loan that may be disbursed to various categories of sugar factories;(ii)the manner and form in which applications may be made under this rule;(iii)the manner in which such loans may be disbursed including the condition regarding signing of contractor agreement and monitoring of utilisation of the loan;(iv)the period during which such scheme for grant of loans will be operative;(v)any other matter which is required to be made or notified in the scheme.(3)Only such sugar undertakings as have fully repaid all sums, which have become due in respect of sugar development fund and levy sugar price Equalisation fund will be eligible to apply for loan under the schemes notified under sub-rule (1).(4)The repayment of loans sanctioned under any scheme under sub-rule (1) together with interest shall be made in [eight equal half yearly instalments] and shall commence on expiry of one year from the date of disbursement of the loan.]Please see Notification dated 20.7.09 for the scheme
