Section 26(1) in The Sugar Development Fund Rules, 1983
(1)Notwithstanding anything contained in the 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).] 23, 24 and 25, the Central Government may, after taking into consideration the scheme of rehabilitation circulated by the Board for Industrial and Financial Reconstruction or the scheme recommended by the Committee for rehabilitation, as the case may be, and any other relevant factor, restructure the loan, interest or additional interest on account of default thereof of a potentially viable sick sugar undertaking,[Provided that while so restructuring, no portion of the outstanding principal or simple interest at applicable rates at the relevant time shall be waived off:Provided further that the Central Government may, at its discretion, waive additional interest in full or in part, for reasons to be recorded in writing.] [Inserted vide GSR 599 dated 30.07.2012.]
