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Interest Subsidy Scheme On Term Loan


1Name of the schemeInterest Subsidy Scheme
 Important InstructionsAll Micro, Small & Medium Enterprises mentioned under clause 1(A) & (B) of the notification of the scheme and set up in the identified blocks of the State of Haryana, which have filed EM Part-II/ Udyog Aadhaar Memorandum with respective District Industries Centre and availed term loan from Financial Institutions (SIDBI, State Financial Institutions, Co-operative Banks, Sarv Haryana Gramin Bank)/ Banks shall be eligible.The items of manufacture should not fall in the restrictive list as notified by State Government from time to time.CLU/NOC is required from competent authority, if applicable.The unit should be in regular production at the time of disbursement of assistance.In case of rejection of case, an appeal shall lie with the Director of Industries and Commerce/Administrative Secretary, Industries and Commerce, Haryana within a period of 30 days.
 Documents to be enclosed with the requestAcknowledgement of EM part-II/ UAM registrationCertificate of Incorporation/ Partnership deed.Board resolution/ Power of attorneyChange of Land Use (CLU)/ NOC from competent authority, if applicable.Certificate for Financial Institution on Letter Head of the Bank(Annexure-IV)CA Certificate regarding investment in plant & machinery for new unit/expansion/ diversification (Annexure-V)Audited balance sheet of the unit of last year (if Applicable).Certificate from concerned Deputy Excise & Taxation Commissioner (Sale Tax) regarding net VAT/SGST deposited by the applicant during the financial year of which claim has been filed (Annexure-VI).Copy of first sale bill.
 Timeline and ProcedureSubmit application online with all the required documents within three months of the closing of the financial year of which incentive is being claimed.Online application submitted shall be processed and examined by concerned Joint Director/ Deputy Director.If any discrepancy is found, the application shall be put onhold and be communicated to the applicant within 10 working days.The applicant will rectify the deficiencies within 06 weeks failing which the application will liable to be rejected.After completion of the application, the approval letter will be issued within 60 working days.The applicant will submit the documents mentioned in approval letter within 15 days.After compliance of conditions of approval letter, the sanction letter for releasing the incentive will be issued within 15 working days.

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