Guidelines for Declaring an Industry Sick
Government of Rajasthan
Industries (Group-I) Department
No. F. 15 (IPP) Ind./I/2004 Jaipur, Dated : August 31, 2004.
Guidelines for
Identification/Revival of Running/Closed Sick Industrial Units under Rajasthan Investment Promotion Scheme, 2003
Pursuant to order No.F.4(18)FD/Tax Div./2001-L dated 4.8.2004 (Annexure-I), issued by the Finance Department (Tax Division)), Government of Rajasthan (copy enclosed) amending the Rajasthan Investment Promotion Policy-2003 (hereinafter referred to as ‘the Scheme’) and in order to identify the sick industrial units under clause 4(tt), revive sick industrial units under clause 4(rr) and to determine the eligibility in cases of sick industrial unit for grant of benefit under clause 5A of the scheme, the following guidelines and procedures are being prescribed :
1. Publicity & Time Frame
It is enjoined upon all concerned departments/agencies that wide publicity is to be given to the order dated 4.8.2004 of the Finance Department, through various industries associations and media. It has to be amply clarified that all such industrial units which qualify to be declared sick under clause 4(tt)(i) of the Scheme should submit their application in the prescribed format, appended hereto at Annexure-II positively on or before 30.9.2004, failing which their applications will not be entertained.
2. Competent Authority for Declaring Unit Sick
The authority to decide whether the units are covered under clause 4(tt) of the Scheme shall be the appropriate screening committee mentioned under clause 6 of the scheme. After seeking approval of the appropriate screening committee the Member Secretary shall declare the unit sick.
3. Qualifications for Sickness
Under clause 4(tt)(i), the following RBI guidelines should be considered as basis for declaring units sick:
a) any of the borrowal accounts of the unit remains substandard for more than six months i.e. principal or interest, in
Industries (Group-I) Department
No. F. 15 (IPP) Ind./I/2004 Jaipur, Dated : August 31, 2004.
Guidelines for
Identification/Revival of Running/Closed Sick Industrial Units under Rajasthan Investment Promotion Scheme, 2003
Pursuant to order No.F.4(18)FD/Tax Div./2001-L dated 4.8.2004 (Annexure-I), issued by the Finance Department (Tax Division)), Government of Rajasthan (copy enclosed) amending the Rajasthan Investment Promotion Policy-2003 (hereinafter referred to as ‘the Scheme’) and in order to identify the sick industrial units under clause 4(tt), revive sick industrial units under clause 4(rr) and to determine the eligibility in cases of sick industrial unit for grant of benefit under clause 5A of the scheme, the following guidelines and procedures are being prescribed :
1. Publicity & Time Frame
It is enjoined upon all concerned departments/agencies that wide publicity is to be given to the order dated 4.8.2004 of the Finance Department, through various industries associations and media. It has to be amply clarified that all such industrial units which qualify to be declared sick under clause 4(tt)(i) of the Scheme should submit their application in the prescribed format, appended hereto at Annexure-II positively on or before 30.9.2004, failing which their applications will not be entertained.
2. Competent Authority for Declaring Unit Sick
The authority to decide whether the units are covered under clause 4(tt) of the Scheme shall be the appropriate screening committee mentioned under clause 6 of the scheme. After seeking approval of the appropriate screening committee the Member Secretary shall declare the unit sick.
3. Qualifications for Sickness
Under clause 4(tt)(i), the following RBI guidelines should be considered as basis for declaring units sick:
a) any of the borrowal accounts of the unit remains substandard for more than six months i.e. principal or interest, in