Page 221 - DMGT310_ENTREPRENEURSHIP_AND_SMALL_BUSINESS_MANAGEMENT

Entrepreneurship and Small Business Management

Notes (v) The industry declared sick by the State Level Committee would be eligible to receive
reliefs and concessions from banks and financial institution as per instructions of RBI.
These concessions and reliefs will be considered to be given within a definite time frame.
(vi) After the identification of sickness within a prescribed time frame the rehabilitation
package would be prepared and the state level institutions would monitor the sick
industries and their rehabilitation.
(vii) Those sick and closed units which have availed the benefits of any Industrial Policy in the
past can avail even second time the facilities under this policy. If any sick or closed unit
wants to avail the benefits under the Industrial Policy for the second time it will avail only
the difference between the prior availed amount and the proposed amount under new
policy. But this facility for rehabilitation to the unit will be made available only on the
recommendation of the concerned committee constituted by the State Government. Such
facility to the unit can be made available maximum of two times only.
(viii) Facility provided to the sick and closed units: Exemptions from Annual Minimum
Guarantee (AMG), Monthly Minimum Guarantee (MMG) and Delayed Payment Surcharge
(DPS) would be available to the unit from the date of declaration of the unit as a sick unit.
This facility would be admissible for a period of five years.

Sickness in Medium and Large Industries

(i) A committee would be constituted under the chairmanship of Secretary
Industry to explore the possibility and determine remedies for the revival of medium and
large scale industries and Public Sector Undertakings (PSUS) which are sick and not referred
to the BIFR and have a potential for revival. The recommendations of the above committee
detailing the reliefs and concessions shall be placed for approval before the high powered
committee existing under the chairmanship of the Chief Secretary.

(ii) The rehabilitation package envisaged by BIFR /IRB I/BICICO /BSFC/Bank and state
level inter institutional committee shall be placed before the committee under the
chairmanship of the Secretary, Industry for consideration and recommendation of
Government.
(iii) Sick Industry means such industry, which has been registered by the Board for Industrial
and Financial Reconstruction (BIFR).
(iv) Decision regarding closed industrial units shall be taken by a State Level Committee
constituted under the chairmanship of Secretary Industries Department.
(v) Those sick and closed units which have availed the benefits of any Industrial Policy in the
past can avail even second time the facilities under this policy. If any sick or closed unit
wants to avail the benefits under the Industrial Policy for the second time it will avail only
the difference between the prior availed amount and the proposed amount under new
policy. But this facility for rehabilitation to the unit will be made available only on the
recommendation of the concerned committee constituted by the State Government. Such
facility to the unit can be made available maximum of two times only.
(vi) Facilities to sick and closed units: Exemption of Annual Minimum Guarantee (AMG),
Monthly Minimum Guarantee (MMG) and delayed payment surcharge to the unit will be
granted from the date of declaration of unit as a sick unit. This facility will be available for
five years.

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