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State of Andhra Pradesh - Section
Section 66 in Andhra Pradesh Revenue Recovery Act, 1864
66.
(Commencement of Act) Repealed by Central Act XII of 1873.NotificationsI. The Andhra Pradesh Revenue Recovery Act, 1864 Section 52-A of the ActNotification of certain Corporations whose Loans and Advances have to be recovered as Arrears of Land Revenue[G.O.Ms. No. 287, Revenue (N), dated 3rd February, 1978]In exercise of the powers conferred by item (ii) of sub-section (1) of Section 52-A of the Andhra Pradesh Revenue Recovery Act, 1864 (Act No. II of 1864), as inserted by the Andhra Pradesh Revenue Recovery (Amendment) Act, 1977 (Andhra Pradesh Act 18 of 1977). the Governor of Andhra Pradesh hereby notifies the Corporations mentioned in column (1) of the Schedule below in respect of which the loans and advances, together with interest thereon, due to them, as specified in column (2) of the said Schedule may be recoverable in the same manner as arrears of land revenue under the provisions of the said section.The Schedule| Name of the Corporation | Loans and Advances |
| 1 | 2 |
| 1. The Andhra Pradesh State Financial Corporation, Hyderabad. | Term loans as specified below granted on interest to theindustries for acquisition of fixed assets as required forindustry, viz., land, buildings, plant and machinery, namely:— |
| I. Rupee Loans | |
| (a) In areas other than backward areas:— | |
| 1 | 2 |
| (i) For small scale units covered under credit guaranteescheme 14% per annum of Interest (5% above Bank rate). | |
| (ii) For medium and large scale units at 15% per annum (6%above Bank rate). | |
| (b) In the notified Backward areas: | |
| (i) For small scale units at 12% per annum (3% above Bankrate.) | |
| (ii) For medium and large scale units at 12.5% per annum (3.5%above Bank rate). | |
| (c) Loans to transport operations (for all areas', at 15.5%per annum (6.5% above Bank rate). | |
| II. Foreign Exchange Loans | |
| (i) For all units in backward areas at 13% per annum. | |
| (ii) For small scale units located in areas other thanbackward areas as 14% pet annum. | |
| (iii) For medium and large scale units located in areas otherthan backward areas at 14.5% per annum. | |
| Note:— (1) The rates of interest mentioned above arewith half-yearly rates calculated on product basis. | |
| (2) In the case of technocrats, the rate of interest shall bereduced by 1/2% per annum where the units are located in otherthan backward areas. | |
| 2. The Andhra Pradesh State Film Development Corporation. | Loans for construction of Cinema halls and film studiosgranted at 12% per annum rate of interest. |
| Sl. No. | Name of the Corporation | Loans advances and sums due together withinterest thereon |
| 1. | 1. Andhra Pradesh Industrial Development Corporation Ltd.Hyderabad | (a) Terms Loans under Industrial Development Bank of IndiaRefinance Scheme(b) Bridge Loans(c) Temporary demandLoans(d) Other Loans |