|
1.
The Scheme : The scheme aims at financing the
MSME and non-manufacturing enterprises with whom purchase orders have been issued
by TNEB / TWAD / TANSI (TNEB
- for the supply of ACSR conductors
/ AAAC conductors / distribution transformers
/ power transformers / cables / AB
Switches, Pillar boxes, Grills). The
scheme also covers execution of work
contract and turn key projects, repairs
and reconditioning of sick transformers of
TNEB and work contract of TWAD.
2. Eligibility
: MSME and non-manufacturing
units to whom TNEB / TWAD / TANSI has issued orders
for the supply of eligible materials / for
the execution of work contract.
3. Quantum of Loan
: The quantum / limit of assistance
will be 50% of the value of the order
given by
TNEB / TWAD / TANSI.
4. Drawal Limit :
75% of the net amount of the invoice value
i.e. after deducting the percentage of
retention amount stipulated by TNEB / TWAD / TANSI.
5. Processing fee
(non-refundable) : 1% of the limit
applied shall be collected at the time of
receipt of the application towards
processing fee.
6. Renewal Fees : 0.50% of the limit
sanctioned shall be collected for renewal
of the limit.
7. Penal Interest
: 2.5% of the limit for the defaulted amount
for the defaulted period.
8. Credit Period
: The maximum credit period of each will be
180 days.
9. Security :
The loan will be secured by Post Dated Cheques
given by the unit. The amount of the post
dated cheques will be the bill amount disbursed
for each Bill together with interest from
the date of disbursement to the date of
post dated cheques i.e., 180 days from the
date of disbursement.
The loan will be secured by the personal
guarantee of Proprietor / Partners / Directors
of the applicant unit.
10. Validity of Sanction
: The sanction will be valid for a period
of one year from the date of sanction and
it will be renewed every year on production
of TNEB / TWAD / TANSI purchase order for the next year.
|
