to view PDF - KSSIA Kottayam
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2+CATEGORY NO. I I:-Industrial enterprises which do not exist and are <strong>to</strong>tally defunct and industrial \..assets are_ not available will be permitted <strong>to</strong> settle and close the loan account bymaking a one time payment of the remaining principal due in lump. The entire amoun<strong>to</strong>f interest and penal interest due will be waived.CATEGORY NO.I I I:*If the original loanee has expired and the enterprise is functioning, the legaiheirs/surviving family members will be permitted <strong>to</strong> settle and close the loan accountby making one time payment of the remaining amount of principal due in lump. 50 %of the interest and penal interest due will be waivcd.CATEGORY NO. tr V:-Loanee,{ndustrial enterprises who have availed of Margin Money Loan /loansand where the enterprise set up with such loans are working but with a negative networth and running on loss for the last three accounting years, as evidenced by auditedbalance sheet duly recommended by the Manager, District Industries Centre will bepermitted <strong>to</strong> settle and close the loan account by making one time payment of theentire amouilt of principal due and 50 % of the interest and penal interest in lump ason the date of OTS,CATEGORY NO, V:-In the case of closed down enterprises and registered as sick under SURP, theIiollowing conqessions rvitl be extended, provided the enterprise undertakes revivalprogramme and resume produtiorloperation before 30106/20t 1.a) 50% of principal amount shall be paid in three equal installments within oneyar. Balance wili be deferred for 2 years. Amount of interest and penalinterest will be waived.b) In the above cases, if remittances af,e not made within the stipulated date, ailthe OTS concessions offered will stand au<strong>to</strong>matically withdrawn and thebeneficiary shall remit all the dues as per the original terms of the ioan.