Section 24 in The Sugar Development Fund Rules, 1983
24.
(1)Notwithstanding anything contained in rules 16, 17, 21, 22, [22A] [Inserted by Notification No. G.S.R. 847(E), dated 9.11.2015 (w.e.f. 27.9.1983).] and 23, on and from the date of commencement of the Sugar Development Fund (Second Amendment) Rules, 2005, the rate of interest on all loans outstanding on the date of commencement of the Sugar Development Fund (Second Amendment) Rules, 2004 shall be two per cent below the bank rate as was prevailing on the 21st day of October, 2004.(2)In respect of loans outstanding as mentioned in sub-rule (1), the rate of interest during the period between the date or commencement of the Sugar Development Fund (Second Amendment) Rules, 2004 and the commencement of the Sugar Development Fund (Second Amendment) Rules, 2005 shall be two per cent below the bank rate prevailing as on the 21st day of October, 2004, and any interest paid or charged in excess thereof for the said period shall be credited to the account of the loanee sugar undertaking.(3)[ - Omitted] [Omitted vide GSR 599 dated 599 dated 30.07.2012.][Chapter XIV] [Inserted vide GSR 188(E) dated 9.3.07.] Security, interest and additional interest on Sugar Development Fund loans
