The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
Funding Success...

Generator Scheme

 

Objective For purchase of gensets to enable the industrial units to meet the power shortage due to restrictions imposed on use electrical motive power and for captive use.
Eligibility

a) All SSI/MSI units are eligible.

b) Prop./partnership/ltd companies are eligible.

Promoter’s Contribution

10% minimum (with effect from 07.12.2012)

Debt Equity Ratio

2 : 1 (Overall) For loans above Rs.10 lakh

3 : 1 (Overall) For loans up to Rs.10 lakh

Repayment

7 years including a holiday period of 6 months

Collateral

Assisted units        : Existing charge on fixed assets shall continue for generator loan.

Non assisted units :      50%

For loans below Rs.10 lakh:

Fixed Deposit may be accepted as collateral in lieu of immovable property in case promoters express inability to offer collateral security in the form of fixed assets.

For loans above Rs.10 lakh

Fixed Deposit may be accepted as collateral in lieu of immovable property provided the units are under ‘Standard Category’ for the last 3 years continuously and have earned net profit for the last 3 years.  For other than ‘Standard Category’ units, collateral in the form of immovable property shall be obtained.

CMD/MD is authorized to approve acceptance of Fixed Deposit in lieu of immovable property for units not covered above based on the merits of the individual case.

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