Disbursement for Land:

Our Panel Engineer's valuation or Auditor's Certificate or value as per document or guideline value whichever is lower will be considered for the purpose of disbursement.

Disbursement for Building:

Reimbursement of building cost will be done in stages in proportion to the amount spent on the building subject to compliance of capital upfront clause and after inspection and valuation by our panel engineer.

Disbursement for Plant and Machinery:

Plant and Machinery should normally be purchased only from standard/approved suppliers of the Corporation. For the purchase of machinery, the advances paid by the borrowing unit to the machinery supplier should be routed through the Corporation. Normally, commitment letter to the machinery supplier is issued requesting them to supply the machinery to the entrepreneurs. TIIC will disburse the amount to the suppliers after inspection / valuation as required.

Release of Subsidy:

As per norms of the respective incentive schemes.
For further details click subsidy / incentives / special schemes

Ceding of Second Charge for getting Working Capital Assistance from Banks:

Normally second charge on the fixed assets is ceded in favour of the banker for working capital provided there are no overdues.

Insurance Coverage:

Insurance Coverage for the assets created is mandatory and will be effected on the higher of the engineer's value or the book value in the case of buildings and fabricated or second hand machinery. In case of new machinery,insurance coverage should be effected on the invoice value.