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REGD. No. D-222

The Gazette of India

PUBLISHED BY AUTHORITY

NEW DELHI, SATURDAY, NOVEMBER 2, 1963 (KARTIKA 11, 1885)

PART IV

Advertisements and Notices by Private Individuals and Private Bodies

INDUSTRIAL FINANCE CORPORATION OF INDIA

6. M. Ct. Muthiah

Elected to represent Scheduled Banks.

7. C. H. Bhabha

FIFTEENTH ANNUAL REPORT OF THE INDUS- TRIAL FINANCE CORPORATION OF INDIA, 30TH JUNE 196.1

B. K. Madan

9. Charat Ram

Nominated by the Cen- tral Board of the Re- serve Bank of India.

NOTICE

10. S. Ranganathan, I.C.S..

11. A. K. Das Gupta

Nominated by the Cen- tral Government.

•

12. S. R. Vasavada

13. M. R. Yardi, I.C.S.

Notice is hereby given that the FIFTEENTH AN- NUAL GENERAL MEETING of the Shareholders of the INDUSTRIAL FINANCE CORPORATION OF INDIA will be held on Monday, the 30th September 1963, at 4.00 P.M. (Standard Time) in the Head Office of the Corporation, Reserve Bank Building (2nd Floor), Parliament Street, New Delhi, to transact the following business :

Central Committee :

1. K. P. Mathrani, I.C.S.

Chairman

2. M. Ct. Muthiah

3. C. C. Desai, I.C.S. (Retd.)

Elected by the elected Directors.

1. The Balance Sheet of the Corporation and the Profit and Loss Account for the year ended the 30th June 1963, together with a report by the Board on the working of the Corporation throughout the year and the auditors' report on the said Balance Sheet and Accounts shall be read and considered.

4. S. Ranganathan, I.C.S.

5. A. K. Das Gupta

Elected by the nomi- nated Directors.

General Manager :

D. R. Madhok

Secretary :

2. To elect one Director each in the place of (i) Shri M. Ct. Muthiah, (ii) Shri C. C. Desai, and (iii) Shri V. P. Varde, being directors elect- ed to represent shareholders referred to in clauses (c), (d) and (c) of Section 10(1) of the In- dustrial Finance Corporation Act, 1948, respec- tively, who retire at the end of the year. Of the above, Shri C. C. Desai is eligible for re- election as provided by Section 11 of the Act.

C. A. Subrahmanyam

Legal Adviser :

Jwala Pershad Chopra

Bankers :

Reserve Bank of India

Auditors

1. Messrs. S. B. Billimoria Chartered Accountants

& Co.

3. To elect under Section 34 of the Industrial Finance Corporation Act, 1948, one Auditor duly qualified to act as Auditor of Companies under Section 226 of the Companies Act, 1956 (1 of 1956) by the parties mentioned in Sub- Section (3) of Section 4 of the Industrial Finance Corporation Act, namely Scheduled banks, insurance companies, investment trusts and other like financial institutions, and co-ope- rative banks in place of Messrs. S. B. Billimoria and Company, Bombay, who retire but are eligible for re-election.'

2. Messrs. S. Vaidyanath Chartered Accountants

Aiyar & Co.

D. R. MADHOK 9th July 1963 General Manager

MEMBERS OF ADVISORY COMMITTEES

Board of Directors :

Engineering :

1. K. P. Mathrani, I.c.s.

Chairman

1. K. P. Mathrani, i.c.s.—Chairman 2. V. P. Varde

C. C. Desai, I.C.S. (Retd.)

3. Charat Ram

3. Dhiren Mitra

represent Companies, Trusts and Financial

4. D. P. Antia

Elected to Insurance Investment other like Institutions.

4. V. P. Varde

5. B. D. Kalelkar 6. K. C. Maitra

7. Pranlal Patel

Elected to Co-operative

represent Banks.

R. M. Deshmukh. Bar-at- Law. M.P.

8. T. S. Srinivasan

L/116GI/63

( 159)

160 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

Chemicals :

T. M. Sen—Chief Law OfficerB. S. Negi—Law Officer K. P. Mathrani, i.cs.—Chairman 1. 2 M. Ct. Muthiah Calcutta Office :

3. N.  Adhikari                                               R.  B.  Mathur—Manager
4. K.  R.  Chandran                                           A.  K.  Ghosh—Branch  Law  Officer
5. K.  A.  Hamied

Bombay Office

6. G. P. Kane

V. V. Joshi—Manager

M. S. Patel

L. D. Mundkur—Branch Law Officer

8. V. P. Vurde

Madras Office :

Textiles :

S. N. Pai—Manager

1. K. P. Mathrani, i.C.S.—Chairman

Ravi Varma—Branch Law Officer

Charat Ram

FINANCIAL HIGHLIOHTS

3. R. M. Deshmukh, Bar-at-Law, M.P,

(Rs. in crorcs)

4. T. P. Barat

As on

R. Doraiswamy, I.A.S.

30-6-1963

30-6-1962

Capital and Reserves

7-00

7 00

P a i d - up C a p i t al

6. I. B. Dutt

3 00

R e s e r v es . . ..

2-31

7. Madanmohan Mangaldas

T O T AL

10-00

9-31 8. P. R. Ramakrishan, M.P.

9. J. K. Srivastava

Sanctions {Net)

5"^fi(/' :

118-39

— R u p ee l o am . . ..

98-86

1. K. P. Malhrani, i.cs.—-Chairman

9-29

6-36

— F o r e i gn currency loans

7 -66

4-29

—Underwritings . . ..

2. R. M. Deshmukh, Bar-at-Law, M.P.

1-82

—Direct subscription

—

3. D. R, Gadgil

16-80

13-45

— G u a r a n t e es f or deferred payments

4. K, P. Jain

10-37

1-47

— G u a r a n t e es for foreign loans

R. P. Nevatia

164-33

T O T AL

124-43 S. S. Puri, I.A.S.

7. L. G. Rajwade, i . c s.

Disbursements'

8. M. Ct. Muthiah

80'05

67-88

— R u p ee l o a ns . . ..

D. D. Puri, M.P.

0-26 2-20

— F o r e i gn c u r r e n cy l o a ns

Miscellaneous Industries :

1 55 3-72

— U n d e r w r i t i n gs . . ..

1-82

—

K. P. Mathrani, i.cs.—Chairman

— D i r e ct s u b s c r i p t i on

— G u a r a n t e es f or d e f e r r ed p a y m e n ts

B. D. Kalelkar

i s s u ed . . . ..

3. K. C. Maitra

12-76 2-02

10-45 —

— G u a r a n t e es f or f o r e i gn l o a ns issued

G. P. Kane

102-57

T O T AL

80-14

5. R. M. Deshmukh, Bar-at-Law, M.P.

6. C. C. Desai, i . c s. (Retd.)

Outstandlngs

7. M. K. Kaul

57-56

49-36

—Rupee loans . . ..

8. V. Ramakrishna, i . c s. (Retd.)

—Foreign currency loans

Satya Paul Virmani

0-26 1 06

2-20 3-25

—Underwritings . , . ,

— 1-82

—Direct subscription

SENIOR OFFICERS OF T HE CORPORATION

—Guarantees for deferred payments

12-07

10-32

issued

Head Office :

2 02

—

—Guarantees for foreign loans issued

K. P. Mffthrani, i.cs.—Chairman

D, R. Madhok—General Manager

78-92

61-00

TOTAL

C. A. Subrahmanyam—Secretary

S. T. Karnik—Comptroller

Earnings

Dr. S. C. Dholakia—Technical Adviser

3-95

3 04

—Gross income . . ..

1-31 1-68

—Gross profit before taxation

0-58 0-85

—Provision for taxation .

0-83

0-73

—Net Profit .

C. D. Khanna 1 Baldev Pasricha 1 Managers L. Sitaraman j M. S, Nagratha J

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA II, 1885 161

SUMMARY OF FINANCIAL OPERATIONS

(In crores of rupees)

TOTAL

Up to 30-6-1962

Amount

Cancel- lations

Sanctions (net)

Sanctions (gross)

Sanc- tions

During the year

ended 30-6-1963

Sanctions

(gross)

out- standing Amount disburs-

(net)

Amount disburs-

Amount disburs- ed

Amount Amount

Amount

No.

Amount Amount

Amount

No.

57-56

80 05

383

459 142-57 24-18

118-39

12-17

123-00 98-86 67-88

416

19-57

1. Loans — Rupees. — Foreign cur-

2.20

9-29 2-20

39 10-31 1-02

     rency.       21    7-27      6-36    0-26   18     3 04     1-94
    TOTAL    (a) 437   130-27   105-22   68-14   61    22-61    14-11    498   152-88    25-20    419   127-68    82-25    59.76
2.  Underwriting!
—  Equity shnres  13     1-52     1-27    0 18   17     J-53     0-35     30     3 05     0-25     28     2-80     0-53  (b)0-72
—  Pref. Shares.  17    2-65     2-27     0-71    4     0 16     0-20     21     2-81     0-38     18     2-43     0-91     0-91
—  Debentures,     ]    0-75     0-75     0 66     1    1-68     1-62      2     2-43               2     2-43     2-28     1-62
      TOTAL       31    4-92     4-29      1-55  22     3-37     2-17  (b)53     8-29     0-63  (c)48     7-66     3-72     3-25
3.  Direct  sub-
   scription.
—  Debentures.                                    1     1-82     I  82     1     1-82       .—.     1     1-82     1-82     1-82
                  23   25-90     13-45    10-45   8     3-35     2-31     31    29-25    12-45     22    16-80    12-76    12-07

4. Deferred

payment

guarantees.

10-46

0-09

10-37

2-02

2 02

1-47

1 47

8-99

5, Guarantees

for foreign

loans.

38-37 493

202-70

78-92

164-33 102-57

586

22-43

GRAND TOTAL 49?

162-56 124-43 80-14

40-14

(a) 10 cases cover both rupee and foreign currency loans, (b) 7 cases cover both equity and preference shares. (c) 6 cases cover both equity and preference shares. (d) Includes Rs. 0-19 crores in respect of covertible debentures devolved on the Corporation and subsequently converted into equity

shares.

TABLE I

Report of the Board of Directors of the Industrial

Finance Corporation of India for the year ended the

Assistance sanctioned

30th June 1963 under Section 35 of the Industrial

(gross)

Finance Corporation Act, 1948.

Assistance disbursed

No. of applications Amount

The Board of Directors present herewith their

Rs.

Rs. 19-57 12-17

Fifteenth Report on the working of the Corporation

Rupee loans . Foreign currency

(Q (")

loans

together with the Audited Statement of Accounts for

18 18 1

the year ended the 30th June 1963.

3 04 3-37 1-82

1-94 2-17 (a) 1-82 (b)

Underwriting Direct subscription Deferred payment

(Hi) (iv) (v)

3-35

guarantees

2-31T(c)

Guarantees for foreign

(vi)

REVIEW OF CORPORATION'S OPERATIONS

8-y9

loans

2-02 (c)

TOTAL

90 40-14 22-43

2. The Year's Operations—The financial assistance

(a) Amount called-up and paid-up on shares/debentures

approved and disbursed by the Corporation during the

year is summarised in the following table.

devolved on the Corporation. (b) Amount called-up and paid-up. (c) Guarantees actually issued during the year.

COMPOSITION OF FINANCIAL ASSISTANCE APPROVED DURING THE YEAR ENDED THE 30TH JUNE 1963

162 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 [PART IV

3. During the year ended the 30th June 1963, the Corporation received 160 applications for financial assistance for an aggregate amount of Rs. 6,798.25 lacs including rupee loans, foreign currency loans, under- wiitings, direct subscription, guarantees for deferred payments and guarantees for foreign loans. 57 applica- tions for a total financial assistance of Rs.' 2,314.25 lacs were pending examination on the 30th June 1962. The Board sanctioned 90 applications for a total assist- ance (gross) of Rs. 4,013,57 Jacs to 67 concerns. 45 applications for an aggregate sum of Rs. 1,850.09 lacs were treated as lapsed or withdrawn. One application was not approved. 81 applications were in the process of examination at the end of the year.

4. Rupee and Foreign Currency Loans Approved Dur- ing the year—During the year, the Corporation approv- ed 61 loans (both rupee and foreign currency) for an aggregate amount of Rs, 2.260.77 lacs to 51 concerns. Of the loans approved during the year, the approval of the Central Government was required for 28 cases aggregating Rs. 1,748.08 lacs in terms of the provisions of the l.F.C. Act and the various directives issued by the Central Government.

5. No application for loan was rejected during the year, 30 applications for loans aggregating Rs. 1028.48 lacs were treated as withdrawn or lapsed.

6. At the close of the year under review 44 applica- tions for an aggregate amount of Rs. 2027.72 lacs were under examination.

The pending applications include applications for—

Equivalent amount in rupee;

(Rs. in lacs).

(/) U.S. Dollars . . .. 172-98 (") West German (1D.M.) . . .. 169-94 (uz) Fraics (France) . . • • 21-58

TOTAL . 364-50

7. A comparative statement showing the applications tor loans (both rupees and foreign currency) dealt with during the last three years is given below :

TABLE 2

(Rs. in lacs)

During the yeiir ended

1. Applications received .. ..- 2. Applications sanctioned 3. Cancellations & adjustments 4. Net Sanctions 5. Loans disbursed 6. Applications not approved • 7. Applications lapsed or withdrawn 8. Applications pending at the end of the year

During the year ended 30-6-1963 During the year ended 30-6-1962

30-6-1961

No. Amount No. Amount

No. Amouut

59 41

96 61 2 59 —

76 57 4 53 — 2 14 28

39 — 1 14 31

30 44

3685-62 2121-34 171-92 1949-42 662-55 28-50 730-60 1475-50

3140-42 2445-31 529-34 1915-97 1078-49 20-00 896-28 1261-33

398619 2260-77 15-00 2245-77 1411-70 — 1028-48 2027-72

NOTE. Up to the 30th June, 1962 the figures for loan applications dealt with are on the basis of applications for rupee and foreign currency loans being treated collectively. From this year applications for rupee and foreign currency loans are being treated separately.

8. The total amount of rupee and foreign currency loans disbursed during the year amounted to Rs. 1411.70 lacs which compares favourably with a sum of Rs. 1078 lacs in 1962 and a sum of Rs. 662 lacs in 1961.

9. During the year, the Corporation continued to sanction interim loans in appropriate cases and such interim loans aggregated Rs. 644 lacs.

10. Foreign Currency Loans—During the year, the Corporation sanctioned 18 applications for 26 foreign currency loans for an aggregate amount of Rs. 303.90 lacs.

11. The following table shows the foreign currency

loans approved during the year :

TABLE 3

Rupees (in lacs)

No. of loans

Foreign currency (in million)

8 14 2 2

U.S. Dollars West German Marks . Francs (Franco) Japanese Yen .

1-95 11-30 6-67 91-97

92-87 134-56 64-33 12-14

TOTAL

303-90

12. During the year, the Corporation opened letters or. credit aggregating U.S. $ 3.45 million (Rs. 164.18 lacs) in favour of the foroign machinery suppliers.

Disbursements during the year amounted to U.S. $ 4.08 million (.Rs. 194,52 lacs).'

13. Total Loan Operation* from 1-7-1948 to 30-6-1963 —Up to the 30th June 1963, the Corporation had sanc- tioned 498 applications for loans (both rupee and foreign currency) for an aggregate gross amount of Rs. 152.88 crorcs. Cancellations/Withdrawals of loans up to the 30th June 1963 amounted to Rs. 25,20 crores. The net effective sanctions ot loans as on the 30th June 1963 amounted to Rs. 127.68 crores.

14. Against the net sanctions of Rs. 127.68 crores as on the 30th June 1963, loans amounting to Rs. 8.55 crores were awaiting the approval of the Central Gov- ernment under the provisions ot the IFC Act or under the directives issued thereunder, and in certain cases were awaiting clearance of the foreign credit institu- tions. Against the balance net sanctions of Rs 119.13 crores, the amount disbursed up to the 30th June 1963 amounted to Rs. 82.25 crores i.e. 69% of the net final sanctions.

15. The gross amount of foreign currency loans approved by the Corporation up to the 30th June 1963 aggregated Rs. 1031.20 lacs. Cancellations/Withdrawals amounted to Rs. 101.66 lacs. The net amount of foreign currency loans approved up to the 30th June 1963 thus totalled Rs. 929,54 lacs.

16. The following table shows the total amount of foreign currency loans approved by the Corporation up to the 30th June 1963 :

TABLE 4

Gross sanctions

Currency of sub-loans

No. of loans

Rupees (in lacs)

Foreign currency (in

million)

U.S. Dollars West German (DM) Japanese Yen French Francs

16-76 13-15 91-97 6-67

798-15 156-58 12-14 64-33

28 16 2 2

TOTAL

1031-20 Cancellations/Adjustments

Net sanctions

Ni. of loans

Rupees (in lacs)

No. of loans

Rupees (in lacs) Foreign currency (in million)

Foreign currency (in million)

-) 1

1-91 0-90

90-96 10-70

26 15 2

14-85 12-25 91-97 6-67

707-19 145-88 12-14 64-33

101-66

929-54

PART IV] THE GA2ETTE OP INDIA, NOVEMBER 2, i$63/JtAftTIKA 11, 1885 163

17. Up to the 30th June 1963 the Corporation had opened Letters of Credit aggregating U.S. $6.31 million (Rs. 300.52 lacs) in favour of foreign machinery sup- plieis. Total disbursements made up to the 30th June 1963 amounted to U.S. $4.63 million (Rv 220.53 lacs).

18. The following table gives the figures, as on the 30th June of each of the past 25 years, including the one under report, relating to the (net) amount of loans (both rupee and foreign currency) approved and the amount of loans disbursed :

TABLE 5

(Rs. in crorcs)

N et sanctions

of loans

Amount of loans disbursed

As on the

30th June

During

During Ihe year

Cumu- lative

the year

1949 1950 1951 1952 . 1953 1954 . 1955 . 1956 1957 1958 1959 . I960 1961 1962 1963

3-25 2-90 1-98 3-20 0-53 4-10 5-13 14-06 9-15 5-93 2-76 13-58 19 50 19-15 22-46

3-25 6 15 8-13 11-33 11 86 15-96 T| 09 3 5 - 15 44-30 50-23 52-99 66-57 86-07 105-22 127-68

1-33 2-08 2-38 1-78 2-50 2-82 1-64 2-20 9-78 8-33 7-48 8-41 6-62 10-79 1411

1-33 3-41 5-79 7-57 10-07 12-89 14-53 16-73 26-51 34-84 42-32 50-73 57-35 6 8 - 14 82-25

19. It will be observed from the above table that the net sanctions and disbursements during the year are the highest since the inception of the Corporation.

20. Underwriting operation'; during the year—During the year under review, the Corporation received 40 pro- posals for underwriting facilities for an aggregate amount of Rs. 865.00 lacs as under :•—-

(Rs. in lacs)

Equity shares . . . . .. 620 50 Preference shares Debentures

67-50 16800

TOTAL . 865 00

13 applications for an aggregate amount of Rs. 382.59 lacs were pending examination on the 30th June 1962.

21. The Corporation approved 18 proposals for underwriting for an aggregate amount of Rs. 337.00 lacs comprising of :

Equity shares Preference shares Debentures

(Rs. in lacs) 152-50 16-50 168-00

TOTAL . 337-00

22. One application for underwriting for Rs. 2 lacs was not approved by the Corporation. 9 applications for underwriting for an aggregate amount of Rs. 130.00 lacs were either withdrawn or lapsed. 25 applications for an aggregate amount of Rs. 634.00 lacs were pend- ing examination on the 30th June 1963.

23. A notable underwriting approved by the Corpora- tion during the year was in connection with 6^ per cent debenture stock 1968/77-issue of Oil India Ltd., to finance ihe Company's scheme for (a) prospecting of oil und development of oil fields in Assam and (b) construction of a pipe line over a distance of 720 miles from oil fields to Nunmati (Assam State) on to Barauni (Bihar State). Thi-> was the largest single de- benture issue so far put on (be Tndian market. The total issue was of the order of Rs. 30 crores, out of which debentures for Rs. 17.50 crores were open for subscrip- tion to the institutional investors and the public; the balance debentures of Rs. 12.50 crores being subscrib- ed by the Government of India. The debenture issue was also significant in another important respect, name- ly, that the issue was subscribed to and underwritten jointly by a consortium consisting of the State Bank of India and its subsidiaries, IFC, ICICI, LIC, leading commercial banks, insurance companies and share- brokers. The Corporation underwrote the debenture stock to the extent of Rs. 168 lacs and in addition subs- cribed directly to the extent of Rs. 182 lacs.

24. During the year under review, eight issues under- written by the Corporation for Rs. 218.50 lacs were placed in the market. One is>ue was fully subscribed by the public. The extent of shares that devolved on the Corporation in respect of the issues underwritten by it is shown in the following table :

TABLE 6

(Rs. in hies)

Amount devolved on the

Amount under- written Corporation

l-quity shares , Prefere ice shares. Debenture;

43-00 7-50 168-00

32-31 5-60 162-25

TOTAL

218-50

200-16

25. The underwritings approved by the Corporation during the year are included in the statement of finan- cial assistance approved during the year as per Appendix B' to the Report.

26. Total underwriting operation,'! up to 30-6-1963— Up to the 30th June 1963, the Corporation had approv- ed 46 proposals for underwriting of equity and prefer- ence shares and debentures for an aggregate gross amount of Rs. 829.00 lacs, out of which in one case shares of Rs. 5 lacs were subscribed by the Corporation on the basis of firm allotment. Cancellations and with- drawals amounted to Rs, 63.11 lacs,

27. The net aggregate amount of underwriting opera- tions approved by the Corporation up to the 30th June 1963 amounted to Rs, 765.89 lacs made up as under :

(Rs. in lacs)

Equity shares . . . . .. 279-50 Preference shares Debentures

243 • 39 243-00

TOTAL . 765-89

28. Against 42 proposals approved by the Corpora- tion for a net amount of Rs. 765.89 lacs up to the 30th June 1963, the Corporation had executed 29 underwrit- ing agreements for an aggregate sum of Rs. 624.89 lacs, out of which 28 issues had been placed in the market till the 30th June 1963.

29. Out of these 28 issues, 6 issues underwritten by the Corporation for Rs. 72.39 lacs were fully subscrib- ed by the public. In the case of the remaining 22 issues underwritten by the Corporation for an aggregate amount of Rs. 547.50 lacs, the Corporation was called upon to take up shares and debentures to the extent of Rs. 450.63 lacs.

30. The following table shows the break-up of the amount devolved on the Corporation in respect of 28 issues that were placed in the market up to the 30th June 1963 :

TABLE 7

(Rs. in lacs)

Amount under- written

Amount devolved on the Corpn.

94-19* Kquilv shares Preference shares Debentures

145-00* 231-89 243 00

128-34 228-10

TOTAL

619-89

450-63

•Inclusive of Rs. 5 lacs subscribed to by the Corporation on

the basis of firm allotment.

164 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

31. A summary of the underwriting operations of the Corporation started underwriting business up to the

the Corporation since the 24th December 1956 when 30th June 1963 is given below :

From 24 tf 1956 t( June 1

I Dec. )30th 361

No. Amount

45 17 4 13 7

138008 419-50 63-11 356-39 322-50 Applications received Applications sanctioned Cancellations Net sanctions Underwriting agreements finalised Extent to which shares/debentures

3. 4. 5. 6.

devolved on the Corporation

7. 8. 9. 0.

5 •— 10 9 9 Amount disbursed Applications not approved Applications withdrawn or lapsed Applications pending

207-10 130-71 200-58 365-00 21300

32. A statement showing the names of the concerns to whom underwriting facilities for an aggregate net amount of Rs. 765.89 lacs have been sanctioned by the Corporation from the 24th December 1956 up to the 30th June 1963 is given in Appendix T.

33. Up to the 30th June 1963 the Corporation had approved one proposal for direct subscription for an amount of Rs. 182 lacs in respect of a debenture issue.

34. Guarantees for deferred payments in respect of plant and machinery approved during the year—During the year, the Corporation received 20 proposals for guaranteeing of deferred payments aggregating Rs. 764.01 lacs in respect of plant and machinery to be imported from abroad as well as to be purchased in India. Compared to the preceding year when 8 appli- cations tor guaranteeing of deferred payments to the extent ot Rs. 636.63 lacs were received, the number of applications for guarantees received during the year registered a marked increase. 4 applications for a total amount of Rs. 500.33 lacs were pending examina- tion on the 30th June 1962.

35. During the year, the Corporation approved 8 proposals for guaranteeing of deferred payments of the value of Rs. 335.17 lacs. No application was rejected by the Corporation. 6 applications for guarantees amounting to Rs. 646.60 lacs were withdrawn by the

Ur 30

(Rs. in lacs) TABLE 8

the year

To tal During the year ended 30-6-1962

During en 30-6-

ded 1963

No. Amount

N o. Amount No. Amount

548•59 72'50

•—

25 11 — 11 13

40 18 — 18 9

110 46 4 42 29

72-50 78-89

865 00 337-00 _- 337-00 223-50

2793-67 82900 63-11 765-89 624-89

„-

450-63 372'42 215-58 709-00 10 — 1 y 13

7 .— 1 9 25

12 27 —

43-37 23-95 13-00 214-00 382-59

200-16 217-76 2-00 130-00 634 00

•—

applicant concerns. 10 applications for an aggregate amount ot Rs. 294.96 lacs were pending examination on the 30th .lune 1963.

36. Guarantees actually issued during the year aggre-

gated Rs. 231,13 lacs.

37. Total amount of guarantees for deferred payments approved up to 30-6-1963—The 1. F. C. (Amendment) Act, 1957 which inter alia authorised the Corporation to guarantee deferred payments came into force with effect from the 21st December 1957. From that date till the 30th June 1963 the Corporation had approved 31 proposals for deferred payment guarantees for an aggregate gross amount ot Rs. 2925.56 lacs. Can- cellations and withdrawals totalled Rs. 1245.02 lacs. The net amount of deferred payment guarantees ap- proved by the Corporation up to the 30th June 1963 thus amounted to Rs. 1680,54 lacs in respect of 22 pro- posals.

38. The value of guarantees actually issued by the Corporation up to the 30th June 1963 amounted to Rs. 1275.58 lacs.

39. The total operations of the Corporation in res- pect of guarantees for deferred payments from the 21st December 1957 till the 30th June 1963 are summarised in the following table -

TABLE 9

(Rs, in lacs)

Year ended 30-6-1962

ended •6-1961

Year 30

) tO 6-1960

Amount No.

No.

2547-26

Applications rtccived

14 1.

9 Applications sanctioned

1218-07 524-92 Cancellations/Adjustments

693-15 Net sanctions

6 2 208-95 Guarantees issued

6 5.

859-35

Applications withdrawn or lapsed ..

5 6.

—

Applications not approved

Applications pending at the end of the

392-13 1

year

40. Guarantees for foreign currency loans from foicign financial Institutions-—During the year ended the 30th June 1963 the Corporation received 3 applica- tions for guarantee of foreign loans from foreign banks/ institutions for amounts equivalent to Rs. 1001.04 lacs.

41. Of these three applications received, two were approved tor an aggregate amount of guarantees equiva- lent to Rs. 898.63 lacs. The third application was under examination at the end of the year.

42. Of the two guarantees of foreign loans approved, the Corporation had up to the 30th June 1963 executed guarantee in one case tor an amount approximately equivalent to Rs, 202,01 lacs out of the total guaran-

Year ended 30-6-1963

Tc tal

No.

Amount

Amount No. Amount No. Amount

1860-74 8 636-63 20 764-01 64

5808-64

1328-71

43-61 8 335-17 31 2925-56

„

715-16

4-94

—

— 9 1245-02

613-55

38-67 8 335-17 22 1680-54

791-57

43-93 2 231-13 13 1275-58

863-79

131-00 6 646-60 21 2500-74

„

—

16-28

— 2

16-28

45-20

500-33

294-96 —

tee approved for an amount equivalent to Rs. 671.46 lacs.

43. Up to the 30th June 1963 the Corporation had received 5 applications for guarantee of foreign currency loans to be obtained by applicant concerns from foreign banks/institutions for amounts equivalent to Rs. 1334.90 lacs, During this period the Corporation had approved three proposals for an aggregate amount equivalent to Rs. 1045.63 lacs.

44. Industry-wise and State-wise Distribution of Financial Assistance Approved during the Year—The industry-wise and State-wise distribution of financial

PART IV] THE GAZETTE OF INDTA, NOVEMBER 2, 1963/KARTIKA 11, 1885 165

assistance approved by the Corporation during the year is shown in the following tables

TABLE 10

TABLE 11 State-wise distribution of financial assistance approved by the Corporation during the year ended 30-6-1963.

(In lacs of Rupees)

Amount

Slate

Industry-wise distribution of financial assistance approv-

ed by the Corporation during tile year ended 30-6-1963

(In lacs of Rupees)

Industry

Amount

%of the whole

No of units

11 9 1 2

605 00 612 92 31 00 176 66 50 00 439 32 87 33 8 00 10 00 15 00 160 00 676 52 265 46 132 39

1? 1 15 2 0 8 4 4 1 2 10 9 2 3 0 2 0 3 0 4 4 0 16 8 6 6 3 3

3 1 1 2 1 2 V 5 1 2 3 4 5 6 7. 8 9 10 11 12 13 14 15

6 6 1

103 04 149 43 11 00

2 6 3 7 0 3 16 17 18

Sugar Textiles Artificial Fibres Paper Rubber Basic Industrial Chemicals Miscellaneous Chemicals Glass . Pottery Cement Tron & Steel Non-ferrous Metals Metal Products Machinery Electrical Machinery & Ap- pliances Motor Vehicles & Ancillaries Bicycles Mining & Quarrying—

50 00 1 2

1 fa) Coal (b) Petroleum and Natural

Gas

1 4 19 Hotels

350 00 80 50

8 7 2 0

TOTAL

4013 57 100

Industry-wise distribution of financial assistance sanc- tioned from 1-7 1948 to 30 6-1963

(Rupees in crores)

Sugar

17 29

Textiles

Co-operatives 35 59

Paper

15 55

Other units

5 84

Cement

6 35

5 33

41 43 Ceramics & Glass

Chemicals

17 97 Mining & Quarrying 4 42

Non-Ferrous

Rayon

3 94

Metals

17 85 Automobiles

3 73

Engineering

Hotels

3 62

MechamcHl 12 54

Rubber

3 29

Electncal

5 37

2 21

. 17 91

Iron & Steel Others

3 44

TOTAL

164 33

°; of the whole

No of units

5 2 I 3 1

9 19 4 2 6 1 8 4 1 Andhra Pradesh Assam Bihar Gujarat Kerala Madhya Pradesh Madras Maharashtra Mysore Onssa Punjab Rajasthan Uttar Pradesh West Bengal Delhi

271 08 377 65 50 00 76 39 90-00 17 00 1181 93 693 25 302 62 239 13 181 43 34 04 327 17 154 00 17 88

6 8 9 4 1 2 1 9 2 2 0 4 29 4 17 3 7 5 6 0 4 5 0 9 8 2 3 8 0 5

100

6K TOTAL

4013 57

State-wise distribution of financial assistance sanction- ed from 1-7-1948 to 30 6 1963.

(Rupees in crores)

7 63 7 29 6 43 6 42 1 50 1 50 0 41 Maharashtra Madras West Bengal Mysore Uttar Pradesh Bihar Andhra Rajasthan Gujarat

28 73 26 43 17 41 12 20 11 05 9 95 9 61 8 94 8 80

Punjab Onssa Assam Kerala Madhya Pradesh Delhi Pondicherry Andaman & Nicobar Islands

0 03

TOTAL

164 33

45 It will be observed that during the year non- ferrous metals industry leads the list with 16 8 per cent of the total assistance followed by textiles (15.2 per cent), sugar (15 1 per cent) and basic chemicals (10 9 per cent)

46 The Corporation continued to give special assist- ance to the less developed areas of the country. A number of loans and other facilities were sanctioned during the year for industrial units to be located in less industrialised States like Assam, Andhra Pradesh, Orissa and Uttar Pradesh

47 Of the aggregate financial assistance of Rs 4013 57 lacs approved during the year, financial assistance to the extent of Rs 2736 49 lacs was for new units and Rs 1277 08 lacs for the expansion, renova- tion and modernization of existing units

48 During the year financial assistance to the extent of Rs 3394 57 lacs went to public limited companies and the balance amount of Rs 619 lacs to co-opera- tive societies

49 A list of the concerns for which the Corporation had approved loans since its inception up to the 30th June 1962 will be found in the relative appendices of

1f6 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTTKA 11, 1885 [PART TV

the Eighth and subsequent Annual Reports of the Cor- poration. The names of the concerns for which the Corporation approved financial facilities during the year under review are given in Appendix 'B' to this report.

(Rs. in gr^ rei)

(Sanction net) Assistance disbursed

No,

Amount

Am iunt

Direct subscription Debentures.

1-82 1 •82(6)

Deferred payment guarantees

12-76

22 16-80

Guarantees for loans from

foreign financial institutions

50, In the previous Annual Reports of the Corpora- tion. Appendix 'B' was prepared on the basis of gross amount of loans sanctioned. In view of the increasing volume of other financial facilities approved by the Corporation such as undcrwritings, guarantees for de- ferred payments, direct subscription etc., it is considered that it would be more appropriate to prepare this and other appendices to the ^Annual Report on the basis of total financial assistance. Accordingly, with effect from this year's report. Appendix 'B' has been prepared on the basis of total amount (gross) of financial facilities approved during the year.

Total Operations from 1-7-1948 to 30-6-1963

51. A summary of the total financial assistance ap- proved and disbursed by the Corporation during the fifteen years from its inception till the 30th June 1963 is shown on page 8. The total (gross) financial assist- ance approved during this period aggregated Rs. 202.70 crores, Cancellations and withdrawals of facilities amounted to Rs. 38.37 crores. The net total financial assistance amounted to Rs. 164.33 crores to 265 con- cern!* made up as under :

TABLE 12

(Rs. in crores)

Sanctions (net)

Assistance disbursed

No. Amount Amount

Loans R u p e es . . .. F o r e i gn c u r r e n c y.

383 36

118-39 9-29

80-05 2-20

T O T AL

419 127-68 82-25

Undcrwritings Equity Shares Prcf. Shares Debentures

28(

2-80 2-43 2-43

0-53 0-91 2-28

TOTAL

7-66 3-72(6)

2-02(c)

3 10-37

GRAND TOTAL

493

102-57

164-33

(a) 6 cases cover both equity and preference

shares,

(/)) Amount called up and paid-up, (e) Guarantees actually issued.

It will be observed that as against the total net financial assistance of Rs, 164.33 crores sanctioned up to the 30th June 1963, the Corporation had disbursed u total assistance of Rs. 102.57 crores out of which a sum of Rs. 87.79 crores hud been disbursed in cash made up of rupee and foreign currency loans or Rs. 82.25 crores and underwriting and direct subscrip- tion of Rs. 5.54 crores.

52. Cancellations/ Withdrawals of Facilities up to 30-6-1963~In the previous Annual Reports, financial assistance approved by the Corporation was shown on the basis of gross sanctions. The appendices were also prepared on the same basis. From time to time facili- ties sanctioned by the Corporation were subsequently not availed of by the applicant concerns or were not made available by the Corporation for various reasons. Such cancellations and withdrawals aggregated Rs. 38.37 crores up to the 30th June 1963. The Annual Report for the year under review as also the appendices to the Report have been prepared on the basis of net sanctions after taking into account cancellations/withdrawals etc.

53. The year-wise total of the cancellations/with- drawals/adjustments amounting to Rs. 3837.26 lacs is shown below ;

TABLE 13

Loans

Year ended 30:h June

Rupees Foreign currency

1949

—

17-24

] 95 0

86-75

—

1951

41-50

1952

124-50

—

1953

90-25

—

1954

117-60

—

1955

220-99

—

1956

106 50

—

1957

275-93

—

1958

18600

—

1959 >. •

102-25

—

1960

434-00

—

1961

132-00

39-92

1962

478-30

51-04

1963

4-30

10-70

TOTAL

241811

101.66

(Rs. in lacs)

Deferred

Total

Under- wntings

Guarantees for foreign loans

payment guarantees

.—.

17-24

—

86-75

—

.—.

41-50 41-50

—

124-50 124-50

—

90-25 90-25

—

117-60

—

220-99

—

J06-50 106-50

275-93 —

—

275-93

—

18600

214-00

40000

—

110-30 102-25

8 05

—

15-00

302-87

751-87 434-00

—

48-11

715-16

935-19 171-92

—

4 94

529-34

534-28

9-36

24-36

—

15-00

9-36

6311

1245-02

3837-26 2519-77

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA II, 1885 167

54. The following table shows the net total financial assistance sanctioned and disbursed by the Corporation during each of the last 15 years :

It will be observed from the above table that the net financial assistance sanctioned as also disbursed during the year are the highest on record and are almost twice the corresponding figures for the previous year.

TABLE 14

(Rs. in crorcs)

Net financial Assis- tance sanctioned

Amount disbursed

Year ended 30th Juno

During the year

Cumula- tive total

During the year

55. Classification of Financial Assistance according to new units and expansion, modernisation and renovation of existing units—The previous Annual Reports of the Corporation contained an Appendix of loans sanctioned to 'new' units and 'old' units and 'new' units were treat- ed as those units which went into production after the 15th August 1947. This classification served little purpose; the Appendix has accordingly been discontinued from this year.

1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963

3-25 2'90 1-98 3-20 0-53 4 10 5 13 1406 9 15 8-50 3-91 18-52 28-94 20-27 39 89

3-25 6-15 8-13 11-33 11-86 15-96 21 09 35-15 44-30 52-80 56-71 75-23 104-17 124-44 164-33

1-33 2'08 2-38 1-78 2-50 2-82 1-64 2-20 9-78 8-33 8 14 10-67 15-02 11-47 22-43

1-33 3-41 5-79 7-57 10-07 12-89 14-53 16-73 26-51 34-84 42-98 53-65 68-67 •80-14 102-57

56. The following table shows the classification of financial assistance (net) approved by the Corporation up to the 30th June 1963 according to assistance ap- proved for (i) setting up of new units, (ii) expansion of the existing units, (iii) modernisation, renovation etc., of the existing units, (iv) other purposes like working capital. The table also shows the relative importance of financial assistance from the Corporation in relation to the total cost of the schemes for which financial assistance has been approved by the Corporation.

NET FINANCIAL ASSISTANCE SANCTIONED AND THE AMOUNT

DISBURSED FROM I. 7. 1948 TO 30. 6, 1963

( C U M U L A T I V E)

16$ THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

57. Industry-wise, State-wise and concern-wise dis- tribution of financial assistance up to 30-6-1963—In the previous Annual Reports, appendices of industry-wise, State-wise, application-wise and concern-wise distribu- tion of loans have been prepared on the basis of gross sanctions for loans only. For the reason given in para 50 the following appendices to this year's Annual Re- port have been recast and prepared on the basis of total financial assistance (net) approved by the Corporation up to 30th June 1963.

(i) Analysis of loans (net) approved up to 30-6-1963 for various types of industries as per me Inter- national Standard Industrial Classification of all Economic Activities—C(i)

(ii) Analysis of all forms of financial assistance (net) approved up to 30-6-1963 on the above basis—C(ii)

(iii) Statement showing industry-wise distribution of loans (net) approved up to 30-6-1963 in each State—D(i)

(iv) Statement showing indu&try-wise distribution Of all forms of financial assistance (net) ap- proved up to 30-6-1963 in each State—D(ii) (v) Classification of loans (net) approved up to 30-6-1963, according to amount approved on each application—E(i)

(vi) Classification of loans (net) approved up to 30-6-1963, according to amount approved for each industrial concern—E(ii)

(vii) Classification of all forms of financial assist- ance (net) approved up to 30-6-1963 according to amount approved on each application—E(iii)

(viii) Classification of all forms of financial assist- ance (net) approved up to 30-6-1963 accord- ing to amount approved for each industrial concern—E(iv)

Financial Assistance to the Co-operative Sector of Industry

58. The total net financial assistance approved by the Corporation up to the 30th June 1963 to industrial co- operatives amounted to Rs. 3685.62 lacs. This has been givea to 50 co-operative sugar factories, 3 co-ope- rative spinning mills and 1 co-operative unit for the ex- traction of vegetable oil.

(Rs. in Crores)

TABLE 15

Nature of the scheme

Total cost of the scheme

?26-29 101-28 5-21 Setting up of new units Expamsion of existing units Modernisation, renovation etc. of existing units ..

432-78

the I.F.C.

assistance (net) approved by

Financial

Percentage

Total

Guarantees

Loans

of (6) to (2)

Under- wri tings Direct subscription

8-32 116

35 44 62

11415 44-84 3-21

17-49 9 10 0-58

88-34 34-58 2-63

9-48

27-17

125-55

162-20 2-13

Net

Vegetable oil

. . . . . .— ,

1 —

. . I

— 1 .— .— —

TOTAL

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 169

TABLE 18

Principal

accordance with an understanding between the Govern- ment of India and the Government of West Germany, the second credit of DM 25 million is to be utilised first by the Corporation before drawing on the first loan of DM 15 million. Accordingly, the various matters in connection with the second credit of DM 25 million have been recently finalised and the agreement in this behalf is expected to be executed shortly. A notable feature of this credit is that sub-loans can be granted therefrom for the import of plant and machinery not only from West Germany, but also other countries ex- cluding Sino-SoViet bloc and Yugoslavia. Out of this credit, the Corporation has up to die 30th June 1963 approved effective sub-loans aggregating DM 12.25 million.

66. The Corporation was further able to obtain dur- ing the current year an equipment credit to the extent of 50 million Fruncs from the Banque Francaise due Commerce Exterieur, Paris, to finance the import of capital goods from France. The relative Protocol was signed by the Corporation on the 20th October 1962 and it came into force with effect from the 27th Decem- ber 1962. The sub-loans to be granted out of this credit shall be utilised chiefly to finance the import of capital goods from France to India required for the projects approved by the Corporation, but a small por- tion of the sub-loans sanctioned under this credit can be utilised for imports from other Western countries. The Corporation has so far approved two sub-loans aggre- gating 6.67 million Francs out of this credit.

67. Against the sum of Yen equivalent to U.S. $2 million allocated by the Central Government to the Corporation last year, the Corporation approved during the year under review 2 sub-loans in Japanese Yen equivalent to U.S. $ 0.25 million.

68. Sources from which IFC assistance has been financed-—The total amount of loans disbursed and shares and debentures devolved on the Corporation pur- suant to the underwritings and those subscribed direct up to the 30th June 1963 aggregating Rs. 87.79 crores as mentioned in Para 51 have been financed from the follow- ing sources : —

(In crores of rupees) As on 30-6-1963

Paid-up Capital

7-00

Reserves and surplus

3-00

Borrowings from the market by issue of bonds

28-24

Borrowings from the Central Government .

24-75

Foreign credits

2-18

Repayment of loans etc

22-62

TOTAL

87'79

(Rs. In lacs)

Amount in dofaultt

Up to the year ended 30th June

Percen- tage of (3) to(1)

Total amount received* (cumu- lative)

Total amount due** (cumu- lative) 1

1959 I960 1961 1962 . 1963

522-77 712-34 966-06 1263-69 1625-00

484-36 660'85 920-10 1238-82 1596-99

28-41 30 69 22 '86 15-66 14-24

5-43 4-31 2-34 1-24 0-87

•excludes amounts which proved irrecoverable and conse-

quently were written off. **excludes extra repayments,

•(•excludes amounts for which extension of time was granted.

71. The bulk of the principal and interest in arrears mentioned above is accounted for by two concerns. The mortgaged assets of one of these concerns were sold and further steps are being taken for the recovery of the balance amount. The mortgaged assets of the second concern have been leased out by the Corporation and the dues of the Corporation will be adjusted out of the lease moneys.

72. Over and above the normal repayments of prin- cipal in terms of the mortgage documents, the Corpora- tion had received up to the 30th June 1963 a sum of Rs. 621.72 lacs from the borrower concerns on account of premature repayments of principal and sale of the mortgaged assets.

Progress of Repayments

69. The following table shows the amounts which were due by way of repayment of principal and by way of interest as also the amount in default under each category as at the end of the last five years :

73. It bad been the policy of the Corporation to levy a premium for premature repayments of loans, either in full or in part, by the borrower concerns from their accumulated profits or from additional share capital or from other sources. In cases where repay- ments were made out of accumulated profits or out of additional share capital, premium at a flat rate of 1 per cent was charged; in other cases wfcere repayments were made from other sources such as borrowings etc., varying rates of premium were fixed according to the time of premature repayment. In either case the Cor- poration had stipulated a notice period of 90 days. The Corporation's practice of charging premium on prema- ture repayments raised from internal sources or by rais- ing additional share capital was reconsidered last year and it was decided not to charge any premium for pre- mature repayments by the loance concerns out of their accumulated profits or by raising additional share capi- tal. This practice has now been further liberalised and it has now been decided that no premium shall be levi- ed on premature repayment of loans whether out of accumulated profits or by raising additional share capi- tal or from other sources. In the first instance this decision shall be in force for a period of 2 years with effect from the 1st July 1963.

Rate of interest

TABLE 17

Interest (R'i. in lacs)

Amount in default

Up to the year ended 30th June

Percen- tage of (3) to(l)

Total amount received (cumu- lative) 2

Total amount due* (cumu- lative) 1

1959

703-22 693-28 9-94

1-41

1960

921-35 910-58 10-77

1-17

1961

117000 116704

2-96 0-25

1962

1448-58 1445-95 2'63

0-18

1963

1782-27 1777-69 4-58 0-26 74. With the prior approval of the Central Govern- ment, the rate of interest charged by the Corporation on rupee loans advanced by the Corporation was raised by i per cent per annum with effect from the 19th July 1962 and the revised rate was notified in the Offi- cial Gazette, in accordance with Rule 6 of the I.F.C. Rules, 1957. The revised rate was not applied to the rupee loans sanctioned before that date where the whole or a part of the loan had already been disbursed. The lending rate now stands at 7i per cent per annum with the usual rebate of J per cent per annum for the payment of instalments of principal and interest on the due dates. There has, however, been no change in the rate of interest on the foreign currency loans which continued to be 8£ per cent per annum less a rebate of i per cent per annum for punctual payment of instal- ments of principal and interest (net 7f per cent) plus i per cent per annum to provide for incidental ex- penses.

Distribution of ihares

70. The increase in interest in default during the year is mainly due to the default committed by one concern owing to a shortfall in its resources for imple- menting the scheme of expansion.

75. The position regarding the distribution of shares at the end of the year, in respect of the first and second series, after taking into account the transfer of shares

170 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

approved by the Corporation is given below

TABLE 19

Total

First scries

Second scries

shares 2,000 2,064- 2,405 2,576 955

Central Government Reserve Bank of India Scheduled Banks Insurance Companies etc. Co-operative Banks

shares 800 800 1,000 1,000- 400

shares 2 800 2 864 3,405 3,576 1,355

TOTAL

10,000 4,000 14,000

SOURCES F"ROM WHICH DISBURSMENTS H A Vt tEEN

FINANCED.

78. Since the Corporation commenced its underwriting operations in December 1956, it has underwritten a num- ber of shares and debenture issues as a part of its promo- tional activities. This role of the Corporation has receiv- ed greater attention in the last 2—3 years and having regard to the need for rapid industrialisation of the coun- try in fulfilment of the objectives of the Five Year Plans, the underwriting activities of the Corporation are likely to increase. In pursuing this line of activity, the Corpora- tion functions not as an investor but as a catalytic agent with a view to encouraging investment by the public. As a result of this activity, certain shares, naturally, devolve on the Corporation; majority of which so far are redeem- able cumulative preference shares. Many of these shares are not quoted in the market while some are being quoted at a discount particularly in view of the fact that the projects have not yet come into operation as also because of the present depressed conditions of the capital market. Having carefully considered the various aspects of the matter and particularly the fact that the Corporation's interests are essentially long-term, the Board of Directors have, bearing in mind the practice followed by other similar institutions, decided that no provision need be made in respect of fluctuations in the current values of quoted or unquoted investments. Accordingly, the provision of Rs. 2 lacs made in the last year's accounts towards depre- ciation on investments has been transferred to the General Reserve Fund.

79. General Reserve Fund—A sum of Rs, 30 lacs has been transferred out of the current year's profits to the General Reserve Fund. This together with the transfer of Rs. 2.00 lacs from the Reserve for Depreciations on Investments, brings the total amount transferred to the General Reserve Fund to Rs. 166.08 lacs.

80. In addition to the General Reserve Fund, there are the following Special Reserve Funds aggregating Rs. 118.03 lacs :—

(Rs. in lacs)

(1) Special Reserve Fund under Section 32A of the

Industrial Finance Corporation Act . . 46-58

(2) Special Reserve Fund under Section 36(1)

(vltl) of the Income-tax Act, 1961 . . 55-63

(3) Special Reserve Fund under Super Profits Tax

Act, 1963

15-82

TOTAL . llg-03

The General and the Special Reserve Funds aggregate in

all Rs. 284.11 lacs.

Accounts (Rs. in lacs)

81. There is, in addition, a Reserve for Doubtful Debts amounting to Rs. 14.47 lacs and a Reserve for Contin- gencies of Rs. 1.00 lac. The Reserve Funds and other Reserves thus add up to nearly Rs. 3 crores.

This year

Previous year

76. Profit and Loss Statement for the

394-72 304-18

year-—The year'¹) working shows a gross income of

After deducting from gross incomer-

Interest pad on bonds and other

b o r r o w i n gs . . . ..

O t h er e x p e n s es . . ..

207-55 19-55

158-80 14-67

And providing for;.—

84-95 57-82

2 00

T a x a t i on . . . .. R e s e r ve f or d e p r e c i a t i on on i n v e s t- m e n ts . . . . ..

—

31205 233-29

The net profit for the year is

82-67 70-89

82. Special Reserve Fund under Section 36(1) (vill) of the Income-tax Act, 1961—A sum of Rs. 17.60 lacs has been transferred from the profits of the current year on the basis of 10% of the assessable income for the year to the Special Reserve Fund under Section 36(1) (viii) of the Income-tax Act, 1961. This raises the balance to the credit of the Fund to Rs. 55.63 lacs. As mentioned in the last year's Report, in the case of the financial corporations which have been set up to promote industrial development and have been approved by the Central Government, appropriations to this Special Reserve Fund of sums not exceedmg 10% of the total incomo of each year till the amount at the credit of the Fund is equal to the paid-up capital are allowed as deduction for purposes of income-tax.

3000 26-00

77. The net profit of Rs. 82.67 lacs has been appropriated as under:— (0 Transfer to General Reserve Fund (ft) Transfer to Special Reserve Fund [Under Section 36(l)(vW) of the Income-tax Act, 1961]

17-60 13-21

15-82

(HI) Transfer to Special Reserve Fund under Super Profits Tax Act, 1963 (iv) (a) Payment of dividend @ 2i per cent on the paid-up share capital of Rs. 5 crorcs for the year . . ..

11-25

(b) Payment of dividend @4 per cen

8-00 2-43

on the paid-up capital of Rs. 2 crores for the year (v) Towards payment to Central Gov- -emment on account of subvention drawn in earlier yCars 'for payment of the guaranteed dividend

Nil 18-00

82-67 70-89

83. Special Reserve Fund under Super Profits Tax Act, 1963—The Super Profits Tax Act, 1963 as passed by both the Houses of Parliament was assented to by the President on the 4th May 1963. Under the proviso to Clause (xi) of the First Schedule of the above Act, in the case of a Company not being a banking Company, and not being a licencee within the meaning of Electricity (Supply) Act, 1948, a sum equal to ten per cent of the amount of total income computed under the Income-Tax Act, 1961 shall be excluded from the total income for purposes of determining the Super Profits Tax payable provided such amount is transferred from the Profit and Loss Account to a Special Reserve Fund to be utilised by it during the period of the five years next following for the repayment of any moneys borrowed or debt incur- red by it for acquisition of capital assets or on acquisition of any capital assets in India for the purposes of its business, or on the payment of dividends on its preference

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 171

share capital of any sum exceeding six per cent of such capital. The Corporation has taken advantage of this provision and has, accordingly, transferred a sum of Rs. 15.82 lacs to the Special Reserve Fund for the year ended the 30th June 1963 in consultation with the Auditors.

84. Provision for Bad and Doubtful Debts—A review of the loan accounts as at the end of the year shows a satisfactory position regarding bad and doubtful debts. The existing provision of Rs. 14.47 lacs is, therefore, considered more than adequate and the Directors have decided not to make any fresh transfer to this account from the profits of the year under report. The Auditors have concurred in this.

, 85. Provision for Income-tax—The assessment proceed- ings in respect of the taxes payable by the Corporation up to the accounting year ended the 30th June 1962 have been completed. As the assessment for the year ended the 30th June 1962 (assessment year 1963-64) was final- ised after the close of the annual accounts, adjustments in this behalf have not been made in the year's accounts. In respect of the accounting year ended the 30th June 1963, a sum of Rs. 84.95 lacs has been provided in the accounts for taxation including a sum of Rs. 5.76 lacs on account of Super-Profits Tax for the years ended the 30th June 1962 and 1963.

86. Subvention received—As mentioned in the last year's Annual Report, the outstanding balance of Rs. 18 lacs out of Rs. 53.45 lacs received from the Central Government from 1949 to 1952 and 1954 to 1956 by way of subvention to make up the deficit to enable the Cor- poration* to pay the guaranteed dividend was paid to the Central Government during the year under review. Thus there is no outstanding liability now on account of the subvention received from the Government.

87. Working Results for the last 5 Years—A Summary of the Profit and Loss Account of the Corporation for the last 5 years is given in the following table :

(Rs. in lacs)

TABLE 20

Interest earned Other Income

For the year ended 30th June

1961

1962

1960

1963 1959

200•05 • 3-83

225-40 25-48

260 36 38-50

282-91 21-27

361-05 33-67

298-86 304-18 394-72 203-88 250-88

Total Income

Interest Paid                                                      115-75       128-22      146-76       158-80       207-55
Other expenses                                                      1505         13-39       12-75        14-67        19-55
                                   TOTAL  EXPENDITURE              130-80       141-61      159-51       173-47      227-10
Gross  Profit                                                       73 '08      109-27      139-35       130-71       167-62
Provision for taxation                                              37-71       49-76        54-60        57-82        84-95
Reserve for depreciation on investments                                                                    2-00
                                                                    35-37       59-51        84-75        70-89       82-67

Net Profit

To Reserves Subvention returned to Government Divided

TOTAL

88. It will be observed from the above table that compared to the previous year the total income of the Corporation during the current year increased by Rs. 90.54 lacs. The gross profit recorded a substantial increase of about Rs. 37 lacs. The net profit increased from Rs. 70.89 lacs to 82.67 lacs in spite of an increase of about Rs. 27 lacs in the provision for taxation. The appropria- tions to reserves during the year are higher by about Rs. 24 lacs compared to the previous year.

The increase of Rs. 4.82 lacs during the year under the head "other expenses" is mainly accounted for by discount and brokerage (Rs. 3.35 lacs) on the issue of bonds of Rs. 6 crores made during the year.

89. Schedule attached to the Balance Sheet—A sche- dule showing particulars in respect of the loans and advances as on the 30th June, 1963 is attached to the Balance Sheet.

63-42

39-21 1800 13-68

38-26 10-00 11-25

63 50 1000 11-25

19-25 14-12 10-00 11-25

84-75

70-89

82-67 59-51

35-37

(i) Debts partially secured

90. It will be observed from item (b) of the Schedule that debts amounting to Rs. 2,89,039 are secured to the extent of Rs. 1,54,000. This sum of Rs. 2,89,039 repre- sents the debt due from one concern which is at present under closure but negotiations for re-starting its factory are under way. In working out the present value of assets of this concern which stand mortgaged to the Cor- poration, depreciation up-to-date at the full rates pres- cribed in the Income-tax Rules has been taken into account.

93. There was no concern (vide Section 'A' of the Statement) in which any director of the Corporation had interest as a nominee director of a State Government or a Co-operative Bank or Registrar of Co-operative Societies. 94. The loans due from concerns in which some of the Corporation's directors are shareholders only aggre- gate Rs. 8,77,31,676 (vide Section 'B' of the Statement). 95. The details given in Section 'C of the Statement relate to one concern with outstanding loans of Rs. 23 lacs in which a director of the Corporation has interest as a director of its managing agency concern. The loans to this concern were granted long before the above direc- tor became a director of the Corporation. The balance of Rs. 5,62,04,838 relates to loans in which the directors of the Corporation are interested as directors (vide Section 'D'). Out of this about 75 per cent is in respect of loans sanctioned prior to the respective dates on which directors concerned became directors of the Corporation. It may be of interest to note that the aggregate of loans in which directors are interested in one form or the other and which were sanctioned after the concerned directors became directors of the Corporation I.e. Rs. 3.30 crores constitutes about 2.6 per cent of the net total loans approved by the Corporation.

(ii) Debts secured only by personal guarantees or choses-

in-action

91. It will be noted from item (c) of the Schedule that debts aggregating Rs, 11,69,325 due from two concerns are outstanding under the above category. Steps for the recovery of the amount due are being taken.

96. The provisions of the directive issued by Govern- ment in 1954 referred to in our Sixth Annual Report under which a director of the Corporation who is interested in any applicant or loanee concern either as an ordinary shareholder or as a director or member of the Managing Agency concern is required to disclose whatever interest he may have in the application/s for loan/s pending with the Corporation and to withdraw from the meetings when the application for loan from any concern in which he is interested is under discussion, continued to be scrupulous- ly observed during the year.

(ifi) Interest of Directors in Loanee Concerns

92. A statement showing an analysis of the figures shown at item (f) of the Schedule attached to the Balance Sheet is given in Appendix 'A'.

97. Meetings of the Board and the Central Committee •—Twelve meetings of the Board were held during the year, nine at New Delhi and one each at Bombay, Calcutta and Madras. There was one meeting of the Central Committee during the year which was held at New Delhi. 98. Advisory Committees—-The five Advisory Com- mittees (one each for the Chemical, Engineering, Sugar

172 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

and Textile Industries, and one for the rest, Labelled "Miscellaneous Industries") held 35 meetings in all, during the year, and considered 71 applications for finan- cial facilities from the Corporation.

99. Audit by the Comptroller and Auditor General of India—During the year the Comptroller and Auditor General of India carried out the audit of the accounts of the Corporation in respect of the period from the 1st April 1962 to the 31st March, 1963. A review on the working of the Corporation was also carried out by the Comptroller and Auditor General of India during the same period.

some of the important matters discussed at the Confer- ence:

(i) Scheme for the guarantee of advances granted

to small-scale industries.

(ii) Extension of refinancing facilities offered by the Refinance Corporation for Industry Ltd., to the State Financial Corporations,

(iii) Financing of transport and hotel industries and Industrial Estates by the State Financial Cor- porations.

(iv) Advances to Tea gardens and Collieries.

(v) Participation of SFCs with other financial insti-

tutions.

107. A summary of the proceedings relating to some of the proposals considered at the Conference as furnished by the Reserve Bank of India is given in Appendix 'H\

Board of Directors

100. Instructions on Questions of Policy issued by the Central Government—During the year under report, the Central Government did not issue any instructions to the Corporation on questions of policy in terms of sub-section (3) of Section 6 of the Industrial Finance Corporation Act, 1948. The instructions issued hitherto (and pub- lished in the earlier reports) continued to be observed during the year.

101. Rules Framed by the Central Government—Tim- ing the year under review, no further rules were framed by the Central Government under the powers vested in them under section 42 of the IFC Act, 1948,

102. Report of the Estimates Committee of the Parlia- ment—During the year under report, the Sub-Committee of the Estimates Committee on Public Undertakings con- ducted a general examination of the working of the Cor- poration up to the year ended the 30th June 1962. Their Report, as finally approved by the Estimates Committee, was presented to the Lok Sabha on the 16th April, 1963. Our comments on the report are being furnished to Government.

108. Under Section 10(1) (aa) of the IFC Act, the Central Government nominated on 8-8-1962 Shri M. R. Yardi, I.C.S. to be a director of the Corporation in place of Shri K. S. Sundara Rajan. Under Section 10(1) (b) of the IFC Act, the Central Board of the Reserve Bank nominated on 1-1-1963 Shri Charat Ram vice Shri S. P. Virmani. The Board place on record their appreciation of the valuable services rendered by Shri K. S. Sundara Rajan and Shri S. P. Virmani.

109. In terms of Section 11(2) of the IFC Act, Shri M. Ct. Muthiah, representing scheduled banks, Shri C. C. Desai, representing insurance companies, investment trusts and other like financial institutions and Shri V. P. Varde, representing co-operative banks, will retire at the end of the year. Of the above, Shri C. C. Desai is eligible for re-election as provided by Section 11 of the Act. The retiring Directors are required to continue in office till their successors are elected at the Annual General Meeting to be held on the 30th September 1963.

Auditors

103. Amendment to the General Regulations of the Corporation—Regulation 53 of the General Regulations of the Corporation framed under section 43 of the IFC Act, 1948, contained a mandatory provision requiring personal guarantees of directors/managing agents etc., in respect of loans sanctioned by the Corporation. This provision was found to operate in an unduly rigid manner. Accordingly the regulation was amended during the year vesting in the Corporation the descretion to. ask for per- sonal guarantee of the Directors/managing agents etc., of the borrower concerns where this is considered necessary.

J04. Concerns whose Management/Possession has been taken over by the Corporation—During the year under review, the Corporation took over possession of an indus- trial concern and immediately leased out the factory. The dues of the Corporation will be adjusted out of the lease moneys.

One of the concerns against whom the Corporation had filed a suit in the court under Section 30 of the I.F.C. Act has since repaid in full the dues of the Corporation.

105. General Review of Industries Particularly in the Fields in which the Corporation has Advanced Loans— A-general review of the industries financed by the Cor- poration up to the 30th June,- 1963 is given in Appendix

106, State Financial Corporations—The ninth Confer- ence of the representatives of all the State Financial Cor- porations was held as usual under the aegies of the Reserve Bank of India in February, 1963 when common problems were discussed. The Corporation was repre- sented by its Chairman, Shri K. P. Mathrani and Secre- tary, Shri C. A, Subrahmanyam. The following were 110. For the year ended the 30th June 1963 the Central Government appointed Messrs. S. Vaidyanath Aiyar & Co., New Delhi as Auditors of the Corporation. Further at the Annual General Meeting of the shareholders of the Corporation held on the 28th September 1962 Messrs. S. B. Billimoria & Co., Bombay were re-elected as Auditors on behalf of the shareholders, other than the Central Government and the Reserve Bank of India, for the same period. Messrs. S. B. Billimoria & Co., will retire but are eligible for re-election.

111. Acknowledgement of Assistance Received—The Board wish to place on record their appreciation of the co-operation and assistance received from the various Ministries of the Government of India, such as Finance, Commerce & Industry, Community Development & Co- operation, Transport & Communications, Steel & Heavy Industries, Mines and Fuel and the Department of Techni- cal Development.

112. The Board are also thankful to members who have served on the various Advisory Committees of the Corporation for their valuable assistance and advice, and also to the non-officials who have served as the Corpora- tion's nominees on the Boards of Directors of various loanee concerns and State Financial Corporations,

On behalf of the Directors

K. P. MATHRANI Chairman

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 173

REPORT OF THE AUDITORS

The Shareholders of The Industrial Finance Corporation of India.

We, the undersigned Auditors of the Industrial Finance Corporation of India, do hereby report to the Shareholders upon the Balance Sheet and Accounts of the Corporation as on 30th lune, 1963.

We have examined the above Balance Sheet with the Accounts and Vouchers relating thereto and the audited returns from the Branches, which returns are incorporated in the Balance Sheet, and report that where we have called for explanations and information, such information and explanations have been given and have been satisfactory. In our opinion, the Balance Sheet is a full and fair Balance Sheet containing all necessary particulars and properly drawn up in accordance with the Act and the Rules of the Corporation- so as to exhibit a true and correct view of the state of the affairs of the Corporation according to the best of our information and explanations given to us and as shown by the books of the Corporation.

NEW DELHI, Dated, 29th August, 1963.

S. B. B1LLIMORIA & CO. S. VAIDYANATH AIYAR & Co. Chartered Accountants

174 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

INDUSTRIAL FINANCE NEW Balance Sheet as at

Capital and 1

labilities

Previous Year

This Year

1. Authorised Capital

Rs.

Rs. 20,000 shares of Rs. 5,000 each Issued, Subscribed & Paid-up Capital

10,00,00,000

10,00,00,000 10 000 shares of Rs. 5 000 each fully paid-up. (Guaranteed by Government of India as to the repayment of principal and paymant of minimum annual divi- dc.id at 21% under Section 5 of the Industrial Finance Corporation Act).

5,00,00,000

2,00,00,000

7,00,00,000 4,000 (Second Series) shares of Rs. 5,000 each fully paid-up. (Guaran- teed by Government of India as to the repayment of principal and payment of" minimum annual dividend at 4% under Section 5 of the Industrial Finance Corporation Act).

7,00,00,000

2. Reserves and Reserve Fund

(i) General Reserve Fund

1,32,90,000

1,34,08,000

24,82.000

(under Section 32). Balance as per last Balance Sheet. LESS : Transferred to Special Reserve Fund [under Section 36(1) (viii) of Income Tax Act, 1961].

1,08,08,000

1,34,08,000

Transferred from Roserve for Deprecia-

26,00,000

tion on investments.

Transferred from Profit & Loss A/c.

2,00,000 30,00,000

1,66,08,000 1,34,08,000

(ii) Special Reserve Fund

36,48,600 4,56,075

(under Section 32A). Balanco as per last Balance Sheet. Additions during the year.

41,04,675 5,53.387

46,58,062 41,04,675

(iii) Special Reserve Fund [under

38,03,000

24,82,000

13,21,000

Section 36(1) (.viii) of the Incomo Tax Act, 1961]. Balance as per last Balance Sheet. Transferred from General Reserve Fund. Transferred from Profit and Loss A/c.

17,60,00.0

38,03,000

55,63,000 (iv) Special Reserve Fund under Super

15,82,170 Profits Tax Act. Transferred from Profit & Loss A/c.

(v) Reserve for Depreciation on

2,00,000

Investments. Balance as per last Balance Sheet. Transferred from Profit & Loss A/c.

2,00,000

Transferred to General Reserve Fund.

2,00,000

14,60,502

(vi) Reserve for Doubtful Debts.

Balance as per last Balance Sheet.

14,47,067

13,435

14,46,894 LESS : Debts written off during the

173

year.

14,47,067 1,00,000

(vii) Reserve for contingencies.

1,00,000 Balance as per last Balance Shoct.

2,30,62,742

2,99,58,126

1,04,61,277 3. Provision for Taxation.

1,16,51,341 Balance as per last Balance Sheet. ADD : Provision for the y e a r-

57,82,015

Income-tax.

79,18,980 1,62,43,292 4S,5>1,952

1,95,70,321 57,05,253 LESS : Adjustments during the year.

1,16,51,340

1,38,65,068

71,96,440 LESS : Tax deducted at source. Advance tax paid.

17,94,917 54,01,523

15,44,221 47,35,627

66,68,628 62,79,848

5,76,000

72,44,628 53,71,492

Provision for the year-—Super Profits Tax.

53,71,492

Carried over

10,72,02,754 9,84,34,234

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 175

CORPORATION OF INDIA, DELHI 30th June 1963

This Year

Property ind Assets

Previous Year

Rs.

Fs.

Rs.

1. Cash and Bank Balances.

5,281

(i) In hand at Head Office and at

Branches,

(ii) With Banks (Under Section 19)

4,856 61,44,202 1,16,00,499

1,77,53,024

1,77,48,168

(a) Reserve Bank of India, (b) Scheduled Banks, (c) State Cooperative Banks, (d) Bank of America.

3,467

36,86,594 1,53,00,500 16,50,000 5,815

2,06.42,809

2,06,48,090

2. Investments at Cost

(i) Under Section 20.

(a) Securities of the Government

of India,

(b) Securities of State Govern-

ment,

(ii) Under Seclion 23(l)(h).

1,63,02,638

1,06,44,122

3,25,27,638

1,62,25,000

(a) Stocks, (b) Shares, (c) Bonds, (d) Debentures.

1.06,44,522

(iii) Under Section 23(1)0).

5,07,27,638

1,82,00,000

Debentures.

1,06,44,522

(Rs. 4,80,84,123 quoted—Market Value— Rs. 4,67,39,217 Rs. 26,43,515 unquoted.)

3. Loans and Advances.

59,76,19,837 49,61,58,295

Total loans outstanding (as per schedule annexed).

4. Dividend Deficit Account.

18,00,000

28,00,000

18,00,000

Balance as per last Balance Sheet. LESS : Balance of Profit transferred from Profit & Loss Account.

10,00,000

18,00,000

5. Premises at Cost,

—

Balance as per last Balance Sheet. Additions during the year.

—

LESS : Depreciation up to last year. Depreciation for the year.

6. Motor Cars, Cycles, Furnitures, Fixtures,

2,29,269 29,561

Fittings, Etc. at Cost. Balance as per last Balance Sheet. Additions during the year.

2,17,778 12,673

2,58.830

2,30,451

1,182

LESS : Cost of Assets sold.

2,58,830

2,29,269

1,32,219 14,021

LESS : Depreciation up to last year. Depreciation for the year.

1,18,751 14,313

1,46,240

1,12,590

1,46,240

LESS : Depreciation on assets sold.

1,33,064 845

1,32,219

97,050

7. Other Assets.

Interest accrued,

11,15,896

20,41,830 2,85,919 3,259

42,298

(i) On loans and advances, (ii) On debentures, (iii) On deposits with banks, (iv) On advance to staff for con-

3,517

23,34,523

veyances.

2,694

23,34,525

66,62,13,089 11,60,888

Carried over

(11,60,888) 52,93,47.957

L/G116CPB/63

176 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA U, 1885 [PART IV

Balance

Previous Year

Capital and Liabilities

This Year

Rs.

Rs. 9,84,34,134

Brought forward

Rs.

10,72,02,754

Rs.

4. Bonds and Debentures.

(') 3J% Bonds (Unsecured) redeemable

7,80,50,000

in 1964. (Guaranteed by the Government of India under Section 21).

7,80,50,000 (ii) 4i% Bonds (Unsecured) redeemable

4,56,47,400

in 1957. (Guaranteed by the Government of India under Section 21).

4,56,47,400 (ill) 4i% Bonds (Unsecured) redeemable

in 1968. (Guaranteed by the Government of India under Section 21),

4,38,30,800

4,38,30,800 (iv) 4% Bonds (Unsecured) redeemable

5,48,86,900

in 1971. (Guaranteed by the Government of India under Section 21).

5,48,86,900 (v) 4i% Bonds (Unsecured) redeemable

in 1974. (Guaranteed by the Government of India under Section 21).

6,00,33,100 (vl) % Debentures (Unsecured) re-

deemable in (Guaranteed by the Government of India under Section 21).

22,24,15,100

28,24,48,200 5. Fixed Deposits,

—

(under Section 22).

6. Borrowings.

(i) From Reserve Bank of India.

(a) Secured by pledge of Govern- ment Securities of the face value of Rs. [under Section 21(3)(a)].

(b) Secured by Bonds and Deben- tures issued by the Corporation of the face value of Rs. 3-50 crores [under Section 21(3)(b).]

(ii) From Government of India [under

Section 21(4)1.

19,75,00.000 26,00,744

(i"i) In Foreign Currency.

24,75,00,000 2,18,14,022

26,93,14,022

20,01,00,744

7. Subvention paid by Government of India.

On account of dividend under Section 5 read with Section 32. Balance as per last Balance Sheet.

28,00,000

18,00,000 LESS : Paid to Government of

10,00,000

India.

18,00,000

8. Other Liabilities.

Interest accrued & accruing— (a) On borrowings from Government

of India under Section 21(4).

20,05,505

27,27,354

(b) On Industrial Finance Corporation

Bonds.

19,78,271 29,392 —

31,26,404 3,05,609 8,580

61,67,947

40,13,168

6,04,482 48,84,128 1,55,145 5,03,499 47,76,135 1,42,007

9,87,022 66,600

11,58,227 42,800 1,575

ll',77,881

Advance Guarantee Commission. Sundry Creditors. Interest held in suspense. Industrial Finance Corporation Employee's Provident Fund A/c. Legal Charges Suspense. Unclaimed Dividend. Cheques received for collection per contra.

15,97,565

1,46,11,869

1,16,66,312

9. Contingent Liabilities.

(a) Guarantees given [under Section

10,32,33,473

23(l)(b) per contra].

12,06,79,389

—

(b) Foreign loan Guarantees given [under Section 23(l)(c) per contra].

2,02,00,691

14,08,80,080 (c) Underwriting contracts [under

25,88,500

Section 23(l)(d);w contra].

38 00 000

14 46 80 080A ^Tj I v jW iV vV 10,58,21,973

81 82,56,925 Carried ever

64,02,38,363

PART tVf T H£ GAZETTE OP INDIA, NOVEMBER 2, 1963/KARtlfcA 11, tti$ ill

Sheet—-contd.

Property and Assets

This Year Previous Year

Rs. Rs.

Rs.

52,93,47,957

Brought fonvard

66,62,13,089 (11,60,888) Other Assets (Contd,)

13,34,525

9,028

Commitment and other charges accrued.

23,728

57,60,189

Sundry Debtors.*

52,19,461

64,623

Advance to staff for Conveyances.

45,856

18,805

Stocks of Stationery.

19,936

30,775

Telephone Deposit.

32.521

Cheques lodged for collection or in hand pending collection per contra.

11,77,881

15.97,565

14,474

15,138

Prepaid Expenses.

Stamps on hand.

92,88,756 82,36,713

10,32,33,473 8. Guarantees per contra.

14,08,80,080 9. Underwriting Contracts per contra.

25,88,500

38,00,000

82,01,81,925 64,34,06,643

Carried over

178 THE GAZETTE OF INDIA, NOVEMBER % 1963/KARTIKA 11, 1885 [PART IV

Balance

Previous Year

Capital and Liabilities

This Year

Rs.

64,02,38,363 Brought forward

81,82,56,925

10. Profit & Loss Account.

21,25,000

Balance as per last Balance Sheet.

31,68,280

11,25,000

LESS : Dividend for 1961,-62.

13,68,280

10,00,000

18,00,000

10,00,000

Balance transferred to Dividend Deficit Account.

18,00,000

ADD : Profit for the year as per Profit

& Loss Account.

70,89,280

82,67,170

70,89,280

82,67,170

LESS : Transferred to Special Reserve Fund [under Section 36(1) (vili) of the Income-tax Act, 1961].

13,21,000

17,60,000

Transferred to Special Reserve Fund under Super Profits Tax Act, 1963.

15,82,170

26,00,000

Transferred to General Reserve Fund.

30,00,000

19,25,000

63,42,170

39,21,000

31,68,280

64,34,06,643

82,01,81,925

Contingent Liability on account of partly paid-up shares held as investment under Section 23(1 )(A).

Rs. 51,55,283

D. R. MADHOK

K. P. MATHRANI

General Manager

Chairman

" Shri S. R. Vasavada " Shri Charat Ram " Shri C. C. Desai

Shrl S. Ranganathan Director Dr. A. K. Das Gupta Director Shri M. R. Yardi Shri V. P. Varde Shri M. Ct. Muthiah Dr. B. K. Madan

Schedule showing Particulars In respect of Loans and Advances referred

Rs.

(a) Debts considered good in respect of which the

56,64,52,367

Corporation is fully secured Out of this—

14,62,36,514

(/) Debts due by concerns in which the Directors of tho Corporation are interested as Directors and Shareholders, Directors or members of the Managing Agency Concerns . Of these—

(0 Debts aggregating Rs. Nil are due by Co'" operative Societies in which Directors of the Corporation are interested as nomi- nees of State Government or Co-opera- tive Banks or Registrar of Co-operative Societies.

(/) Loans amounting to Rs. 34,67,34,955 are also secured by the personal guaran- tees of Directors and/or Managing Agents of borrower concerns. (Of these, loans aggregating Rs. 3,64,50,000 are further secured by tho guarantees of the Central and/or State Governments and loans aggregating Rs. Nil are gua- ranteed by Scheduled or Co-operative Banks).

(i7) Debts aggregating Rs. 8,77,31,676 arc due by Concerns in which the Directors of the Corporation are interested as Shareholders only.

(il) Loans amounting to Rs. 21,03.78,074 are also secured by the guarantees of the Central and/or State Governments. {til) Loans amounting to Rs. 35,00,000 are also secured by the guarantees of Sche- duled and/or Co-operative Banks.

(Hi) Debts aggregating Rs. 23,00,000 are due by Concerns in which the Directors of the Corporation arc interested as Direc- tors or members of the Managing Agency Concerns,

(6) Debts previously fully secured but now secur-

2,89,039

ed to the extent of Rs. 1,54,000 only .

1,05,00,000

Central and/or State Governments

(/v) Debts aggregating Rs. 5,62,04,838 are due by Concerns in which the Directors of tho Corporation are interested as Directors.

(rf) Debts secured only by the guarantees of the

1,92,09,106

Scheduled and/or Co-operative Banks .

(e) Debts secured only by personal guarantees or

11,69,325

choses-in-action .

(g) Total amount of loans disbursed during the year to Concerns in which tho Directors of the Corporation arc interested as Directors and Shareholders, Directors or members of the Managing Agency Concerns

2,24,73,502

59,76,19,837

TOTAL OF (a), (A), (c), (d) & (e)

PART IV] THE GAZETTE Of INDIA, NOVEMBER 2, 1 9 6 ^ / K A R T I KA 11, 1885 179

Sheet—contd.

This Year Previous Year

Property and Assets

Rs.

Rs. R*.

82,01,81,925 Brought forward

64,34,06,643

82,01,81,925

NOTE.—*The amount of Sundry Debtors includes:—

(a) Rs. 48,05,000 boing balance (fully secured) of purchase consideration recoverable from Indo-Asahi Glass Co. Ltd., for assets of

Sodepore Glass Works Ltd. (in Liquidation) sold to them.

(b) Rs. 3,33,383 being balance (fully secured) of purchase consideration and interest thereon recoverable from Zip Industries (Private)

Ltd., for assets of Link Industries Ltd, (in Liquidation) sold to them.

to In the Rfllnnrp Sheet an at 10th .Tnne. 1
Rs.

(h) (/)

18,32,328

Total amount of instalments whether of principal or interest of which default was made at any time during the year .

(ii) Debts amounting to Rs. 7,97,057 due by a Concern in which a Director of the Corporation is a nominee direc- tor are included under category /(") only, as another Director of the Corporation is a shareholder of this Concern.

(it)

18,82,094

Total amount of the instalments whether of principal or interest overdue at the end of the year

3,58,763

Total amount of the instalments whether of principal or interest overdue by Con- cerns in which Directors of the Corpo- ration are interested . . ..

(itf) Debts amounting to Rs. 3,28,00,000 due by two Concerns in one of which three Directors of the Corporation are interested, two of whom as shareholders only and one as a Director, while in the other Concern two Directors of tho Corporation are interested, one as a shareholder only and the other as a Director, have not been taken into category /(//) but are included in category /(/v) only.

the Schedule The following figures are not included in the Board of given above as they pertain to Concerns on which some of the Directors of the Corporation function as the nominees of tho Corporation and not in their personal capacity :—

(/v) Debts amounting to Rs. 3,18,354 due by a Concern in which a Director of the Corporation is interested as a shareholder while another Director is interested as a Director of the Company as also Director of the Manag- ing Agency Company are included in category /(/v) and not in f(,ll) or ftili).

(a) Items (/) &/(/v) . (b) Item (g) (c) Item A("i) . . ..

Rs. 4,46,02,147 1,00,75,999 2,43,717

D. R. MADHOK

K. P. MATHRANI

General Manager

Chairman

S. B. BILLIMORIA & CO.

S. VAIDYANATH AIYAR & CO

Chartered Accountants

ISO THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA H, 1885 [PART IV

Profit & Loss Account for the

This Year Previous Year

Rs.

2,07,54,706 1,58,79,573 To Interest on Bonds, Debentures, etc.

,, Salaries and Allowances.

(a) Chairman

(including Rs. 8,386/- leave salary and pension contributions).

59.900 25,100 10,25,380 58,819

(b) General Manager (c) Others. (d) Provident Fund Contributions.

56,553 26,700 11,38,512 58,523

12,80,288 11,69,208

LESS : Amount recovered from borrower concerns for legal work done by

2,17,850

10,62,438 2,41,250

the Corporation.

9,27,958

9,450 3,700 48,134 39,202 ,, Directors'fees. ,, Committee Members' fees (other than Directors). ,, Directors' Travelling & Other allowances. ,, Committee Members' (other than Directors') Travelling and other allowances. ,, Travelling and other expenses of non-official Directors nominated by the Cor-

9,350 3,800 44,343 28,451 70

poration.

1,05,055 45,039 86,567 I,5Q5 6C0 10,000 14,313

,, Rent, Taxes, Insurance and Lighting. ,, Postage, Telegrams, Stamps and Telephones. ,, Printing Stationery and Advertisement, ,, Repairs. ,, Law Charges. ,, Audit Fees. ,, Depredation.

1,22,628 50,260 77,454 983 800 10,000 14,021

To Other Expenses.

28,141

2,305 • 54,483 2,129 10,552 38,377 4,454 3,521 4,000

30,242 42.376

Agency Charges. Books & Newspapers. Medical Fees & Expenses. Travelling Expenses. Halting Allowances. Maintenance of Motor Car. Listing Fees. Bank Charges. Expenses not Enumerated. Interest on Employees' Provident Fund.

11,673 38,608 6,552 3,588 4,000 751 39,232 46,119

1,80,969

1,90,134

2,00,000

, .

34,804 3,00,165 — — — — — —

To Brokerage on Bonds. „ Discount on Bonds. „ Bad Debts written off. „ Provision for doubtful debts. „ Loss on sale on investments. „ Reserve for depreciation on Investments. „ Assets written off. „ Loss on sale of Assets. „ Provision for Taxation.

79,18,980 57,82,015

84,94,980

5,76,000 Income Tax, Super Profits Tax (including Rs. 1,45,609/- for 1961-62}.

57,82,015

82,67,170 „ Balance of Profit carried to Balance Sheet.

70,89,280

3,94,71,864 3,04,18,143

D. R. MADHOK

General Manager

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 181

Year ended the 30th June, 1963.

Previous Year

This Year

Rs.

•By Interest.

2,82,91,329

3.61,04,472

„ Commission.

12,04,716

19,95,138

„ Rent.

—

„ Profit on Sale of Investments.

—

„ Profit on sale of Assets.

_ 519

„ Dividend on Shares.

1,45,827

1,12,266

„ Commitment Charges.

7,52,726

12,08,779

„ Premia on Premature repayments.

5,768.

9,500

„ Bad Debts recovered.

15,000

„ Miscellaneous Income.

2,258

26,709

3,04,18,143

•3,94,71,864

*(1) The item of 'Interest' docs pot include interest amounting to Rs. 13,137/- on one account which has defaulted in payment

interest and principal. This amount is held in 'Interest held in Suspense Account'.

(2) Interest on one account which is considered doubtful of recovery has not been taken into account.

S. B. Billimoria & Co. S. Vaidyanath Aiyar & Co.

K. P. MATHRANI

Chartered Accountants

Chairman

182 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

APPENDIX *A'

Debts due by Concern in which the Directors of the Corporation are interested as Directors and Shareholders, Directors or Members of the

Managing Agency Concerns, as on the 30th June, 1963

Amount due

Total

Remarks.

Date of approval of loan.

No, of Companies/ Societies,

In respect of loans ap- proved when the concern- ed directors were direc- tors of the Cor-

poration.

In respect of loans ap- proved prior to the dates on which the concerned directors became directors of the Corporation.

Rs.

Rs,

A. Debts due by Co-operative Societies in which the Directors of the Corporation arc interested as nominees of State Governments or Co-operative Banks or Registrar of Co-operative Societies.

Nil

Nil Nil Nil

B. Debts due by concerns in which the Directors of the Corporation are interested

as shareholders only.

20-1-1950 "J

15,00,000

—

• 15-4-1950 J

• 5-2-1960 "|

77,00,000

—

• 1-3-1961 J

—

I1-4-IP53

4,57,749

26-12-1953

—

72,000

16-8-1949

9,45,000

—

16-6-1951

1,30,415

—

" 5.

•25-5-1961

6,66.642

—

21-11-1953 "

• 27-3-1953

•

27,11,830

—

• 9-6-1960

• 29-10-1960 J

17-5-1952 "

• 1-2-1956

2,80,94,400

—

• * 3-5-1956

• 10-1-1957 _

21-6-1952

—

6,17,795

19-6-1954 •)

—

55,75,000

• 17-12-1955 J

10.

7-3-1949 "1

21,19,945

—

• 31-7-1954 J

10-11-1955 "|

11.

25,00,000

—

• 29-6-1957 J

16-2-1949 "1

12.

12,87,900

—

* 23-4-1958 J

26,40,000

—

• 25-9-1959

21,13,000

—

26-11-1956

13.

22-5-1954 1

14.

70.00,000

—

• 15,-10-1955 J

55,00,000

—

28-7-1960

15.

20,00,000

31-3-1960

16.

—

3,00,000

28-12-1961

17.

—

25-6-1955 *|

18.'

—

1,38,00,000

• 27-6-1958 J

8,77,31,676

1,86,61,221

TOTAL OF 'B

6,90,70,455

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 183

APPENDIX 'A' (eontd.)¹ 6 *> 3 4 5 Rs. Rs. Rs. C. Debts due by concerns in which the Directors of th as Directors or Members of the Managing Agency

c Corporation are interested concern.

23-4-1949 "I

* 30-8-1950 I

23,00,000

—

•

* 2-4-1957 J

TOTAL OF 'C

23,00,000

—

D. Debts due by concerns in which the Directors of t ie Corporation are interested

as Directors..

17-9-1954

—

17,14,484

14-10-1948 1

2,00,000

—

• 10-5-1950 J

20-11-1954

32,00,000

—

12-1-1961

4.t

35,00,000

tOnc of the Directors of the Corporation is a Director of the concern while two others are shart- holders only.

31-3-1960

10,72,000

8-10-1949 '

' 21-6-1952

71,00,000

—

• 26-6-1936

* 9-6-1960 J

9-6-1960

2,43,00,000

* 29-3-1962

50,00,000

JOne of the Direclois of the Corporation is a Director of the concern while an- other is shareholder only.

30-11-1961

60,00,000

—

28-7-1961

3,18,354

10.

29-3-1961

20,00,000

—

11.

27-4-1961

—

18,00,000

4,18,72,000

1,43,32,838

3,62,04,838

11,32,42,455

3,29,94,059

14,62,36,514

* Additional loan.

•* The loan to a concern in which a Director of tho Corporation is a shareholder and to the Board of which the Corporation has nominated another of its Directors as its nominee has not been shown under Section D but has been shown under Section B (vide item No. 5),

C5H6GI/63

184 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV

APPENDIX

Statement of financial assistance sanctioned by the Industrial Finance

Location of the factory

Name of the Company or Society

SI. No.

Place

State

Name of the Managing Agents/Managing Director/ Chairman/President of the Board of Directors/Sec- retaries and Treasurers

•

M/s. Kamuni Metals & Alloys Ltd.

Maharashtra, 1.

Agra Road, Kuria.

Messrs. Kamani Brothers Pvt. Ltd., Managing Agents.

M/s. Bhowra Kankance Collieries Ltd.

Jharia Coalfield, Distt. Bihar.

Dhanbad.

Messrs. Karam Chand Thapar & Brothers Private Ltd., Managing Agents,

M/s. Mannam Sugar Mills Co-operative Ltd.

Pandalam, Distt, 3.

Shri Mannathu Padmana-

Kerala,

bhan, Chairman,

Alleppcy,

M/s. United Malleable Company Ltd. .

Maharashtra.

Gorcgaon, Bombay.

Maharajkumar Prithviraj and Shri S. G. Somani, Proposed wholctime Directors.

M/s. Glass-Lined Equipment Co. Ltd,

LingampfiHi, Near Andhra Pradesh.

Hyderabad.

Mr. J. M. de, Beaucorps and Shri B. V, Talwar, Proposed Managing Directors.

M/s. Globe Auto-Electricals Ltd.

Shri R. 0. Zatakia, Managing

Mulund, Greater Bombay. Maharashtra.

Director.

M/s. Modi Spg. & Wvg. Mills Co. Ltd.

Modinagar, Distt. Meerut, Uttar Pradesh.

M/s. R. B. Gujarmal Modi &Bros. Private Ltd., Manag- ing Agents.

M/s. Malcgaon S. S. K, Ltd.

Shri V. C. Jadavrao, Chair-

Maharashtra.

Malegaon Badruk (Shiv- 8.

man.

nagar) Distt. Poona.

M/s. Bist. Industrial Corporation Ltd. .

M/s. D. S. Bist & Sons.

Uttar Pradesh.

Kichha, Distt. Nainital.

Managing Agents,

M/s. Mukflnd lion & Steel Works Ltd.

M/s, Jcwan Ltd., Managing

Maharashtra.

10.

(i) Kurla Bombay.

Agents.

(ii) Kalvc, Distt. Thana. Maharashtra.

(Proposed).

M/s. Mahindra Ugine Steel Co. Ltd. .

Shri K. C. Mahindra, Khopoli, Distt, Kolaba.

11.

Maharashtra.

Chairman.

M/s. Niphad Sahakari Sakhar Karkhana Ltd. Shri D. S. Patil, Chairman.

12.

Pimpalas, District Nasik.

Maharashtra.

M/s. Oil India Ltd

[ Mr. J. C. Finlay, Managing Nahorkatiya,

13.

Assam.

Director.

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 185

B1

Corporation of India from the 1st July, 1962 to the SQth June 1963

(Rupees in lacs)

Amount of financial assistance approved

Purpose for which sanctioned

Finn subscrip-

Undei writing

Rupee loans

tion

Guaiantee for deferred payments

Pief.

Equity

Guarantee of foreign currency loans

Deben- tures

Foreign eunency loans (Rupee equiva- lent)

14 8

\ 11

516 (in U.S. Dollars)

—

1000

16800 182-00 (Deben- tures)

186 THE GAZETTE OF INttfA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PAET IV

APPENDIX2 1 3 4 5

 14   M/s.  Milton Cycle Industries  Ltd.             Shri  Bishamber  Dass  Kapur,   Sonepat, Distt.  Rohtak.   Punjab.
                                                       Chairman.
 15   M/s.  Orissa  Textile  Mills  Ltd. .            M/s.  B. Patnaik  & Co. Private Chowdwar,  District  Cut-  Orissa.
                                                       Ltd.,  Managing Agents.         tack.
 16   M/s.  Ajudhia  Textile  Mills Ltd. .            Shri  Chandra  Kishore  Kejri- Azadpur, Delhi.             Delhi.
                                                       wal  &  Shri  Indra  Kishore
                                                       Kcjriwal,  Directors.
 17   M/s.  Shriram Sahakari Sakhar  Karkhana Ltd,   Shri V. M.  Naik  Nimbalkar,    Phaltan,  District  Satara. Maharashtra.
                                                       Chairman.
 18   M/s.  Madras Aluminium  Co. Ltd.               M/s.  Salcoe  & Co.  Managing,  Mettur    Dam,     District Madras.
                                                      Agents.                         Salem.
 19   M/s.  Asian Cables Corporation  Ltd.           Shri  G.  B. Kotak,  Chairman.  Majiwada,  District Thana   Maharashtra.
 20   M/s.  Rajastlian  Spg.  & Wvg. Mills Limited  . Shri  L.  N.  Jhunjhunwala,    Bhilwarn.                   Rajasthan.
                                                      Managing Director.
 21   M/s.  South  Punjab  Electricity  Corporation  Shri  Krishna  & Co.,  Manag-   Rohtak.                     Punjab.
        Ltd.                                          ing Agents,
 22   M/s.  U. P. Co-operative Spg. Mills  Ltd.      Shri  M.  Samiuddin,  I.A.S.    Etawah.                     Uttar  Pradesh.
23    M/s.  Chemicals  & Plastics  India  Ltd.  .    M/s.  Indplust  Private  Ltd,,  Village  Veerakkalpudur,    Madras.
                                                      Managing Agents.                Mcttur, Distt. Salem.
24   M/s.  Hindusthan  Wireu Ltd,                    Shri  D.  N.  Mitra,  Chairman. Sodcpore,  24,  P.irganas,  Weit  Bengal.
25   M/s.  Trivcni Engineering Works Ltd.  .         Shri  Balmokand  Shah  Sawh-    Allahabad.                  Uttar  Pradesh.
                                                      ney,  Chairman.
26   M/s.  Triveni  Engineering Works  Ltd.  .       Shri  Balmokand  Shah  Sawh-    Allahabad.                 Ultar  Pradesh.
                                                      ney. Chairman.
27   M/s.  Hind  Auto  Industries Ltd.  .            Shri  Prcm  Tandon,  Proposed   Farnikkhabad    Cliilliiva, Uttar  Pradesh.
                                                      Managing Director,              Lucknow.'

PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 187

'B'-—contd.

7 6 9 10 12 8 13 11 14

100

1000

—

(in D.M.)

For financing the Company's scheme of setting up a factory for the manufac- tuie of bicycle freewheels, chains B. B. cups & fork fittings & B. B, axles.

149-n

8000 (Adtli.)

For meeting a part of the capilal cost of putting up a new textile unit consisting of 21,600 spindles & 500 automatic looms.

—

2 88

-—

—

1500 (Addl.)

For financing the Company's scheme of installation of further 4,676 spindles so as to increase the total spindleage from 15,524 to 20,200.

25-00

—

•—

—

(Add).)

For financing the Society's scheme for the expansion of its crushing capacity so as to raise it to 1,200 tons per day.

671 36 In connection with the Company's scheme of setting up a plant for the manufac- ture of 10,000 metric tonnes of Alumi- nium ingots per annum (7,000 tonnes aluminium metal & 3,000 tonnes alloys).

1200 (in U.S. Dollars)

For financing partly the foieign exchange cost of the Company's scheme envisag- ing the manufacture of power cables to the extent of 800 miles pei annum on a two-shift basis and production of enamelled copper wires (magnet wires) to the extent of 360 tons per annurri on a three-shift basis.

7-00

(Addl.)

For meeting a part of the increase in the cost of Ihe Company's scheme of putting up a cotton textile spinning mill with a complement of 13,200 spindles.

26-50

— For financing the Company's scheme of setting up a cotton textile spinning mill with a complement of 12,000 spindles.

40-00

9 17

— For financing the Society's scheme of setting up a cotton textile spinning mill with a complement of 12,320 spindles.

227-27 In connection with the Company's scheme of setting up a factory for the manufacture of 6,000 tons per annum of P. V. C. Resins.

54-00

For financing a part of the Company's scheme for stepping up the capacity from the present 5,000 tons to 14,200 tons per annum for the manufacture of various kinds of specialised/steel wires including tyre bead wires.

22-50

For financing the Company's scheme of selling up a factory for the manufac- ture of the following items of machinery on a single-shift working:—•

Annual

capacity

(Rs. in lacs)

(a) Milling Plants of vari-

ous sizes ., 35 (ft) Mill Gear Wheels .. 20 (c) Sugar Mill Drives (Engi-

nes and Turbines) .. '50

(d) Industrial process

turbines .. .. ">

sors

lo

155

—

17-50

—

—

—

—

—

—

Do,

14 00

On D.M.)

For financing the foreign exchange cost of the Company's scheme envisaging the manufacture of automobile- parts vis. 0) Tie Rod tnds, (rt) King Bolls and (Hi) Spring Shackle Bolts and Pins to the extent of 3,60,000 numbers 2,34,000 numbers and 7,50,000 num- bers per annum respectively.
188 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA l l, 1885 [PART IV
APPENDIX2 3 1 4 5 M/s. J. K. Chemicals Ltd

Wadala, Thana, Bombay

28

Maharashtra.

Shri Kailashpat Singhania, Shri Purushottam Das Singhania and Shri Gopal Krishna Singhania, Principal Directors.

M/s. Bombay Wire Ropes Ltd.' .

Thana, Bombay.

29

Maharashtra.

Shri Himat Lal Chhaganlal Shah, Managing Director.

M/s. Nlrion Synthetic Fibres & Chemicals

Goregaon, G r e a t er

30

Maharashtra.

Ltd.

Bombay.

Shri Nanubhai Jhnveri & Shri Pramod Jhaveri, Managing Directors.

M/s. West Coast Paper Mills Ltd.

Shri G. L. Bangur, Chairman.

Mysore.

Dandeli, District North

31

Canara.

M/s. Automobile Products of India Ltd. . M/s. Technical Services Pvt. , Bhandup, Bombay.

Maharashtra.

32

Ltd., Managing Agents.

Ahmedabad.

M/s. Anup Engg. Ltd

Shri Arun P. Sheth, Manag-

Gujarat, 33

ing Director.

M/s. Assam Tubes Ltd. . . ..

Nazira Mezenga, District Assam.

34

Sibsagar.

Shri P. C. Borooah, Shri R. L. Agarwal, Shri M. L. Bagri, Principal Directors.

M/s. Sterling Knterprise Pvt.

Mysore.

Village Ammasandra,

M/s. Mysore Cement Ltd. . . ..

35

Ltd., Sccretarics& Treasurers. District Tumkur.

M/s W. S. Industries, Manag-

Madras.

M/s. W. S. Insulators of India Ltd.

36

ing Agents.

Village Porur, Taluk Saidapet, District Chingleput.

Andhra Pradesh,

Lingampalli, District

M/s Hoisting Equipment Co. Ltd.

37

Hyderabad.

Shri B. V. Talwar or Mr. J. M. de Beaucorps, Proposed Managing Director.

Madras.

Shri M. A. Chidambaram, Village Mundiyambak-

M/s. South India Steel & Sugars Ltd. .

38

Chairman.

kam, District South

Arcot.

West Bengal.

Shri Ranadeb Chaudhuri, Calcutta.

M/s. Engel India Machines & Tools Ltd.

39

Chairman.

Andhra Pradesh.

M/s. Venkatapathy and Com- Thirupathy, Chittoor

M/s. Mopods India Ltd

40

pany, Managing Agents.

District.
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 189
B'—contd.
6 7 14 8 9 13 12 10 11
4000

(Addl.)

For financing the Company's scheme of expansion at its Thana factory aimed at (fl) taking up manufacture of natrium sulphozylate formaldehyde (rangolitc) with a capacity of 1,800 tons per annum, (b) manufacture of zinc oxide of 1,200 tons per annum, and (c) installing a salt recovery plant in the existing factory.

1000

— •

—

—

•—

• —

In connection with the Company's scheme of setting up a factory for the manufacture of 3,000 tons per annum of steel wire ropes on two-shift basis.

31 00

In connection with the Company's

scheme of setting up a factory for the manufacture of 2 tonnes per day of monofilament and multifilamcnt 6 type nylon yarn.

—

—

—

-

80-00

•—

For the installation of a caustic soda and clilorine plant with an installed capacity of 30 and 24 tons respectively per day in their existing paper mill.

5-00

(Add].)

10-00 (in D.M.)

For financing the cost of certain imported items of plant and equipment with a view to be able to manufacture about 90% of the components of Lambretta scooters and also to increase the pro- duction of clutch and brake assemblies. 10-00 (in U.S. Dollnrs)

16-13

(in D. M.)

2-26

(in U.S. Dollars)

For financing the foreign exchange cost of the Company's scheme envisaging the manufacture of centrifuges, machi- nery for chemical and pharmaceutical industries such as pressure vessels, evaporators, heat exchangers, dryers, crystallizers, mixers, condensors and water purification pfants, laundry and hospital equipment etc.

22-62 (in U.S. Dollars) 5-03

(in D. M.)

For financing the Company's scheme of setting up a plant for the manu- facture of G-l. pipes of diameters ranging from ¥ to 3* with an installed capacity of 12,000 tons per annum on a two-shift basis.

3 00

In connectlorowith the Company's scheme of expansion aimed at increasing Its present installed capacity from 1 lac tons to 2 lacs tons of cement per annum.

1500

In connection with the Company's scheme of setting up a factory for the manufac- ture of H. T. & L. T. Insulators includ- ing the manufacture of other kinds of insulators viz, lightning arresters, transformer bushings, condenser bush- ings and ceramic condensers with an installed capacity of 2,400 tons per annum.

0-50

4-50

In connection with the Company's scheme of setting up a factory for the manufac- ture of 600 Nos. per annum of electric hoist blocks of 500 to 5,000 kgs. of lifting capacity.

1000

5 00

In connection with the Company's scheme of setting up a sugar factory with an installed crushing capacity of 1,000 tons of sugarcane per day.

• 25-00

5 00

4-30 10-70 (in D.M.)

For financing the Company's scheme of setting up a factory for the manufacture of injection moulding machines and moulds required by the plastic industry with an initial installed capacity of 300 machines and 1,000 moulds p.a. For financing the cost of the Company's scheme envisaging the manufacture of 10,000 Nos. p. a. of Moped* (50 c.c. auto cycles) of which 2,500 Nos. are intended to be exported and 7,500 Nos. are to be sold in the Indian markets.
190 TPfE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA U, 1885 [PART IV
APPENDIXI 2 3 5 4 41 M/s. Jnclustiial Ciblcs India Ltd.

Ch, Dcvindcr Singh, Manag-

Punjab.

Rajpura Township, Distt.

ing Director.

Patiala.

M/s. Orissa Industries Ltd.

42

Orissa.

M/s. Jhunjhunwala Bros., Managing Agents.

(/) Butane, (<•() Latakata, Distt.

Sundargarh.

43 M/s. Leiner-Knit Gelatine Co. Ltd. .

Near Jabalpur

Madhya Pradesh.

M/s. Sondhi Saran & Co., Proposed Managing Agents.

44 M/s. Ritz Continental Hotels Ltd.

Shri Ram Nath Kapoor,

West Bengal.

Calcutta.

Managing Director.

43 M/s. Shamsher Sterling Cable Corporation

Bombay.

Maharashtra.

Ltd.

Major General Shanta Sham- sher Jung Bahadur Rana, Managing Director,

46 M/s, Kisan Co-operative Sugar Factory Ltd.

Majhola, District Pilibhit, U.P.

Secretary to the Govt.of U.P., Industries Department, Chairman.

47 M/s. National Co-operative Sugar Mills Ltd. Shri W, P. A. R. Chandra-

Madras.

sekaran. President,

Villages Urseri & Vivida- marudur, Distt, Madu- rai.

48 M/s. Davangere Cotton Mills Ltd.

M/s, R. Hanumanthappa and

Mysore.

Son, Managing Agents,

Existing Davangere Pro- posed Gadag, District Dharwar.

49 M/s. Globe Auto Electricals Ltd.

Shri R. 0. Zatakia, Managing

Mulund, Greater Bom- Maharashtra.

Director.

bay.

M/s, Panipat Woollen & General Mills Co.

50

M/s. Indian Industries Co., Kharar.

Punjab.

Ltd.

Managing Agents.

51 M/s. Mandya National Paper Mills Ltd.

M/s. Bedi &, Co. Ltd., Manag-

Mysore,

Belagula, Mandya Dis-

ing Agents.

trict,

M/s. Sakhti Pipes Ltd. . . ..

52

M/s. Sakhti Enterprises,

Elavoor Village, Chingle- Madras.

Managing Agents.

put Distt.
PARt IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 191
B—contd.
8 12 13 14 9 10 6 7 11
—

1500

•—

(Addl.)

For meeting the increase in the cost of the Company's scheme of putting up a plant for the manufacture of paper insulated power cables with an installed capacity of 108/144 miles per annum (240,000 meters) on single-shift basis.

10-00

—•

(Addl.)

For meeting the additional cost of the Company's scheme caused as a result of their deciding to put up a new factory at Latakata for manufacturing Silica Bricks.

5 00

—

—

—

—

—

—

In connection with the Company's scheme of setting up a new factory for the manu- facture of gelatine and by-products.

— 3 00

7 00

•

—

—

—

—-

In connection with the Company's scheme of sotting up a modern first class Western style hotel.

5 00

-

—

—

—

—

—

For financing the first phase of the Com- pany's scheme of expansion comprising the following items;—

(0 Rubber Insulated 18 million core cables. yards per annum. (//) Wire drawing and 2,400 tons p. a.

stranding.

(HI) Light Thermopla- 18 million core utic insulated cables yards per annum, for house hold & industrial uses.

9000

For financing a part of the capital cost of the Society's scheme of setting up a sugar factory with a crushing capa- city of 1,000 tons of sugarcane per day.

—

9000

—

—

—

—

— For financing the Society's scheme of setting up a sugar factory with a crush- ing capacity of 1,000 tons of sugarcane per day.

—

—

—

—

52-96

7000

—

(Addl.)

For meeting a part of the capital cost of the Company's scheme comprising of—-

(a) Putting into working order the newly acquired old rnill at Gadag with a complement of 12,000 spindles.

(6) Transferring from Gadag and com- missioning at Davangere the 218 looms that formed part of the erstwhile mill at Gadag.

(c) Renovation and modernisation of certain sections of the existing spinning mill at Davangere.

(d) To instal 500 automatic looms at Davangere under the Export promotion scheme of the Govern- ment of India and to expand the bleaching and finishing sections thereat to cope with the increased production "of cloth.

1-70

—

(in U.S. Dollars) 1

For importing specialised machinery and equipment for the manufacture of specific types of alternators (A.C. Dynamos).

l s o; (inD.M.)

5O0¹

45 00

—

7 00

—

(Addl.)

Foil setting up a new Cotton spinning mill with 12,000 spindles for the manufacture of cotton yarn.

96-66

•—

(Addl.)

To refinanco the last four installments of deferred payments amounting to Rs. 96'66 lacs (principal only) guaranteed by the Corporation.

¹

6-00 4 00

— In connection with the Company's.scheme of setting up a factory for the manu- facture of 50,000 tons of cast iron spun pipes and specials per annum on two- shift basis.

O116OI/63
192 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV.
APPENDIX1 2 3 5 4

53 M/s. Pulgaon Cotton Mills Ltd. . M/s, Hardayal Sons, Manag- Pulgaon, Maharashtra. ing Agents, 54 M/s. Andhra Sugars Ltd M/s. Ranga Rao & Co., (/) Tanuku, and Andhra Pradesh. Managing Agents, (ii) Kovvur, West Ooda- vari Distt. 55 M/s. Kallakurichi Co-operative Sugar Mills Shri R. Narayanaswamy, Moongll Thuraipattu Madras. Ltd. President. Village, South Arcot District. 56 M/s. Chhatrapati Shivaji Sahakari Sakhar Shri M. S. Jachak, Chairman, Bhavanl Nagar, District Maharashtra. Karkhana Ltd. Poona. 57 M/s. Escorts Ltd M/s, Harprashad & Co. Pvt. Faridabad. Punjab. Ltd., Managing Agents. 58 M/s. Escorts Ltd M/s. Harprashad & Co. Pvt, Bahadurgarh District, Punjab. Ltd., Managing Agents, Patiala. 59 M/s. Madras Rubber Factory Ltd. M/s, Young India Agencies Thiruvottiyur. Midras. Pvt. Ltd., Managing Agents. 60 M/s. Indian Tools Manufacturers Ltd. Shri S. O. Nevatia, Chairman Sion, Bombay. Maharashtra. & Managing Director. 61 M/s. Indcquip Engg. Ltd Shri G. P. Parikh, Proposed Baroda. Gujarat. Managing Director. 62 M/s. Blrla Jute Manufacturing Co. Ltd. M/s. Birla Brothers Pvt. Ltd., Satna. Madhya Pradesh. Managing Agents. 63 M/s. U. P. Hotel & Restaurants Ltd. M/s. Clarks Hotel, Banaras, Agra. Uttar Pradesh. Managing Agents. 64 M/s. O. L. Hotels Ltd Shri P. L. Lamba, Director. Bombay, Maharashtra. 65 M/s. Camphor & Allied Products Ltd. M/s. Dalai & Jhaveri Pvt. ClutterbuckganJ, Bareilly. Uttar Pradesh. Ltd., Managing Agents. 66 M/s. International Hotel Ltd. Shri S. P. Jaiswal, Managing Calcutta. West Bengal. Director.
PART IVl THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 193
B—contd.
13 12 14 11 10 9 8 7 6
5-28

—

—

—

—

—

—

n connection with the Company's scheme of replacing and adding certain items of machinery for the purpose of improv- ing the quality of yarn and cloth manufactured by it.

¹

28-%5

—•

—

—

—

14000

F or financing the Company's scheme of putting up a caustic soda/chlorine plant at Kovvur with a production capacity of 30 tons of caustic soda |>er day.

—•

—

—

90-00

"or financing a part of the capital cost of the Society's scheme of setting up a sugar factory with a crushing capa- city of 1,000 tons of sugarcane per day.

—'

—

—

—

7500

(Addl.)

"or financing the Society's scheme envi- saging the installation of a new sugar plant with a crushing capacity of 1,000 tons of sugarcane per day.

55-00

(Addl.)

10-00 (in French Francs)

For the implementation of the Company's project for the production of 6,000 motor-cycles and scooters, one lac magnetos and one lac wheel rims for motor-cycles/scooters per annum.

For the import of machinery for the

Company's piston pin unit. 6-93 (inD.M.)

—

—

—

—

—

—

50-00 '

(Addl.)

For meeting a part of the increased cost of the scheme and also for raising the installed capacity from 3.00,000 Nos. to 3,60,000 Nos. each of auto- mobile tyres and tubes per annum.

—

•—

•—•

—

—

20-44

—

For financing the Company's scheme aimed at expanding the production capacity of the following items:—

(in U.S. Dollars)

20-37

(i) Twist Drills from 2,40,000 to

(D.M.)

6,00,000 units per month.

(ii) Taps from 15,000 to 25,000 N o s.

per month.

(iii) Carbide Tipped Tools from 10,000

to 15,000 Nos. per month.

—

—

—

—

34-00

For financing the Company's scheme of expansion envisaging the manufacture of

(a) 72,000 " H o b o u rn Eaton" Rotor Pumps for lubricating oil systems in automobiles, diesel engines etc., on a single shift basis per annum, and

(b) 40 multi cylinder high speed sizing machines per annum required by the textile industry.

— 12-00 (in D.M.)

For meeting a part of the cost of equip- ments proposed to be imported from West Germany with a view to achieve the rated capacity of 750 tons per day of port land cement.

•—

—

—

—

—

—

8 00 (Addl.)

For financing the increase in the cost of establishing a modern Western style hotel at Agra.

—

—

—

2-50

(Addl.)

F or financing the construction of the sixth floor consisting of 15 rooms and 25 beds on the Company's existing hotel building at Bombay.

8-00 (Addl.)

For meeting a part of the increase in tho cost of the Company's scheme of setting up a plant for the manufacture of synthetic camphor with an installed capacity of 900 tons per annum on con- tinuous working.

60-00

In connection with the Company's scheme of establishing a fully air-conditioned luxury hotel comprising 222 rooms with 288 beds.
194 THE QAZETTB OF INDIA, NOVEMBER 2, 1963/J^ARTIKA n, 1885 [PART IV
APPENDIX
2 3 4 1 5
M/s, Hindusthao Polymers Ltd. .

Village Qopalapatnam,

67

Andhra Pradesh.

Vtsakhapatnam Taluka.

Shri Pratap Bhogilal, Mana- ging Director, and Shri R. K. Parikh, Jt. Mg. Direc- tor.

68 M/s. Omega Insulated Cable Company (India)

Madras.

South Wire Agencies Private Ltd., Managing Agents.

Ltd.

Village Thirumallaivail, Distt. Chingleput.

Increases approved in rupee/foreign currency lc

)ans by re-allocation and/or by c

onversion of loans sanction :d during the previous

years.

APPENDIX 'C* (i)

Type of Industry

No. of units

Amount Rs.

% of the whole

Analysis of the loans (net) approved for various types

of industries as per the International Standard

Industrial Classification of all economic

activities as on the 30th June 1963

Basic Metal Industries—Iron

(Rs. in lacs)

2

and Steel . . ..

173-00 1-4

3

Non-ferrous Metals Industry

337*16 2-6 Type of Industry

No. of units

Amount Rs.

% of the whole

17

Manufacture of Metal Products except Machinory & Transport Equipment . . ..

674-96 53

9

Manufacture of Machinery except Electrical Machinery .

303-39 2-4 66 4127-75 32-3

Food Manufacturing Industries except Beverage Industries— Sugar

16

38

Manufacture of Electrical Machi- nery, Apparatus Appliances and S u p p l i e s . . ..

3-7

1441-78

471-28 Manufacture of Textiles—Spin- ning, Weaving and Finishing of Textiles . . ..

11-3

363-00

Manufacture of Rail-road Equip-

2-8

3

Manufacture of Artificial Fibres.

3

70-00 0-6

ment •

Manufacture of Motor Vehicles

2-1

and Ancillaries

8

265-93 Manufacture of Wood & Cork except Manufacture of Furni- ture . . . ..

0-8

4

103 00

Manufacture of Bicycles .

3

121-50 10 Manufacture of Paper and Paper

13

Products . . ..

1001-66

7-8

Miscellaneous Manufacturing

4

8

53 05

Industries . . ..

269'00 2-1

0-4 Manufacture of Rubber Products

Electric Light and Power .

2

43-00 0-3

10

1110-31 8-7

Manufacture of Basic Industrial Chemicals including Fertilisers

6

Electricity, Gas & Steam .

109-28 0-8

Manufacture of Vegetable &

3

82-00

Mining & Quarrying—Coal

38-00

0-6 3

Animal Oil & Fats

0-3

6

Hotel Industry

204-74 16

Manufacture of Miscellaneous

9

267-58 2-1

Chemical Products

Manufacture of Glass & Glass

9

225-92

Products . . ..

1-8

Manufacture of Pottery, China &

TOTAL

9

263 12768-39 100%

Earthenware

292-10 2-3

4.9

9

619'00

Manufacture of Cement .
PART IV] THE GAZETTE OF INDIA, NOVEMBER 1, 1963/KARTIKA 11, 1885 195
3' ^contd.
9 11 12 13 8 10 6 7 14
20-00

—

—

—

—

—

— 54 33 (in French Francs)

In connection with the Company's scheme of setting up a factory for the manufac- ture of the following items :•—

(i) Power 1.5 million gallons

Alcohol per annum.

(ii) Styrene 10,000 tons per an-

Monomer num.

(iii) Polystyrene 7,500 tons per an-

& its num. co-polumers including high impact.

lO'OO

Tn connection with the Company's scheme of setting up a new factory for the manufacture of VIR And.PVC wires and cables with a capacity of 30 million core yards per annum on two shifi working.

18-74

4060

"

'

152-50 1650 16800 182-00

1956-87 303 90

335-17 898-63

APPENDIX 'C (ii)

Type of Industry

Amount

No. of units

% of the whole

Rs.

Basic Metal Industries—Iron and

Analysis of the financial assistance approved (net) for

various types of industries as per the International

Standard Industrial Classification of all

Economic Activities as on the 30th June

1963.

Steel

3

1-3

220'50

(Rs. in lacs)

4

Non-ferrous Metals Industry

10-9

1,785 04

Amount

Type of Industry

% of the whole

No. of units

Rs.

Manufacture of Metal Products except Machinery & Transport Equipment . . ..

20

4-5

747-33

9

Manufacture of, Machinery except Electrical Machinery .

315 -39 1-9

67

Food Manufacturing Industries, except Beverage Industries— Sugar

4142-75 25'3

21

Manufacture of Electrical Machi- nery, Apparatus, Appliances and Supplies.

3-3

536-78

1728-93

38

10-5

Manufacture of Rail-road

Manufacture of Textiles—Spinn- ing, Weaving and Finishing of Textiles . . ..

Equipment . . ..

3

0-4

70 00

4

2-4

394 00

Manufacture of Artificial Fibres .

Manufacture of Motor Vehicles

and Ancillarics

8

2-3

372-88

0-6

103-00

Manufacture of Wood & Cork except Manufacture of Furni- ture

4

Manufacture of Bicycles .

3

121 50 0-7

Manufacture of Paper and Paper

14

9-4

1554-66

Products . . ..

Miscellaneous Manufacturing

8

i n d u s t r i es . . ..

53 05 0 3

Manufacture of Rubber Products

328-62

4

• 2-0

2

Electric Light and Power .

43-00 0-3

12

1501•64

6

91

Manufacture of Basic Industrial Chemicals including Fertilisers

Electricity, Gas & Steam .

109 28 0-7

Manufacture of Vegetable &

Mining & Quarrying—

0-2

3800

3

Animal Ojl & Fats

(0 Coal . . ..

4

92-00 0'6

Manufacture of Miscellaneous

10

1-8

1

295-08

(tf) Petroleum & Natural Gas

Chemical Products

350 00 2-2

Hotel Industry .

Manufacture of Glass & Glass

7

2-2

361 -74

9

1-3

225-93

Products

Manufacture of Pottery, China

9

1-9

307'10

& Earthenware

TOTAL

2 84 16,433 09 '00%

3-9

634-89

11

Manufacture of Cement
196 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
APPENDIX

Statement showing tndustrywlse distribution of bans (net) approved by the

Type of industry

Assam Bihar Gujarat Kerala

Madras

Andhra Pradesh

Midhya Pradesh

Maha- rashtra

Rs. • Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Food Manufacturing Industries except

Beverage Industries -

585 00 60 00 6-50 142-50 180-00

559 00

1534-00

Sugar :

Manufacture o[ Textiles—Spinning, Weav-

ing & Finishing of Textiles

59-07 26-17 24-70 95-00

100-00 183'00 56'75

Manufacture of Artificial Fibres

-„

—

—

293-00

—

20-00

50-00

Manufacture of Wood & Cork except

Manufacture of Furniture

_

60-00

30-00

Manufacture of Paper & Paper Products

—

— 220-00

9 00 40-00

14-00

Manufacture of Rubber Products

—

—

—

15000

24-00 Manufacture of Basic Industrial Chemicals

including Fertilisers

140 00 24-05

—

50-00 306-00

321-26 75 00

Manufacture of Vegetable & Animal Oil

. ...

and Fats

Manufacture of Miscellaneous Chenvcal

Products

54'33

—

.

,

61-00

105-00

Manufacture of Glass & Glass Products ..

8'00

— 84-92

— 5'00

24-50

Manufacture of Pottery, China & Earthen-

ware

— 135-25

6 00

Manufacture of Cement

37 00 95-00 115-00 50 00

12-00 21000

Basic Metal Industries—Iron
150-00

Non-Ferrous Metals Industry

—

—

—

_~

41-16

Manufacture of Metal Products except

Machi nery & Transport Equipment

—

27-65 6000 20-00

185-81

Manufacture of Machinery except Electri-

cal Machinery

—

— 76-39

25-00

Manufacture of Electrical Machinery, Apparatus, Appliances, and Supplies .

. .

12-00 60-00

64-50

Manufacture of Rail-road Equipment .

—

,

15-00

Manufacture of Motor Vehicles and

Ancillaries . . . ..

34'00 143-50

_

Manufacture of Bicycles

Miscellaneous Manufacturing Industries . 4-73

—

—

5-00 6-20

Electric Light & Power

—

—

_

40'00

Electricity, Gas and Steam .

15-83

— 15-83

—

—

— 18-30 23-03

Mining & Quarrying-Coal .

50 00

Hotel Industry

—

—

—

—

— 64-36

903-98 292-87 739-20 833-89 642-00 112-00 1480-36 2592-81

No. of Units State-wise

(18)

(6)

(17)

07) (8)

(2)

(24) (55)
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 197
•D' (0

Industrial Finance Corporation of India, up to 30th June, 1963 In each State.

(,Rs. in lacs)

Total

Punjab

Number of units Mysore

Rajasihan

Delhi

Orissa

Pondi- cherry

West Bengal

Uttar Pradesh

Andarnans & Nicobar Islands

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

R5.

65

4127-73

85'00

—

211-75

433-00

331-00

—

—

—

—

38 187-59

35-00

117-00

1441-78

143-00

35 00

105-00

3600

238-50

—

3

363-00

—

—

—

—

—

—

—

11

I i

—.

—

—

—.

—

4

103-00

3 00

1000

™

13

—

105-00

1001-66

—

—

—

—

13700

476-66

...

—

269-00

4

—

95-00

—

—

—

—

10

1110-31

98 00

—

96-00

—

—

—

—

3

38-00

2'50

35-50

—

—

—

—

—

—

—

—

—

—

9 —

267-58

10-00

29-75

7-50

g

—

225-92

—

20-00 82 00

—

1-50

—

—

—

—

' 9

292-10

—

—

—

—

25-00

2-85

88-00

35-00

—

9

619-00

— 100-00

—

—

—

—

—

—

—

173-00

2

—. 23'00

—

—

—

—

—

—

—

3

337-16

16000

—

13600

—

—

—

—

—

_

_

674-96

17

254 50

127-00

—

—

—

—

—

303-39

9

134-00

4000

—

28-00

—

—

—

—

—.

—

—

—

16

177-51

76-27

471-28

1 6 00

65-00

—

70-00

3

55-00

—

—

—

—

—

—

—

—.

—

—

—

_

—

265-93

71-93

14-00

6 2-50

—

—

121-50

3 —

—

—

38-50

—

—

83-00

—

8

53-05

—

—

5 10

—

1 0 00

10-00

1200

43-00

—

—

—

—

2

—

—

—

3-00

—

109-28

19-14

17-15

—

—

—

—

—

6

—

82-00

—

—

—

3 —.

—

—

32-00

204-74

60-00 47-62

—

32-76

—

6

—

—

—

35-00

82-62 3 00

12768-39

729'02

263

1050-61

897-26

430-51

1410-91

530-15

(39)

(263) (19)

(23)

(2)

(6)

(1)

(18>

(0

(7)
198 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTTKA 11, 1885 [PART IV
APFEMMX

Statement showing Industry-tolM distribution offinatictatassistance (net) approved by the

Type ol Industry

Bihar

Assam

Gujarat Kerala

Madras

Andhra Pradesh

Vtadhya Pradesh

Maha- rashtra

Rs

Rs

Rs

Rs

Rs

Rs

Rs

Rs

Food Manufacturing Industries except

.

Beverage Industries—Sugar

60 00

585 00

6 50 142 50 180 00

1534 00

574 00

Manufacture of Textiles—Spinning,

—.

59 07

24-70

Weaving &. Finishing of Textiles

26 17

95-00

132 77 183-00 62 02

_

Manufacture of Artificial Fibres .

293 00

81 00

20 00

-

-

—

—

Manufacture of Wood & Cork except

—

—

.

Manufacture of Furniture

60 00

30 00

Manufacture of Paper & Paper Products

456-00 9 00 40 00

—

—

—

14-00

-

—

—

—

Manufacture of Rubber Pioducts

-

—

150 00 24-00

Manufacture of Basic Industrial Chemicals

including Fertilisers

168 75 24 05

50-00 306 00

641 53 75-00

Manufacture of Vegetable & Animal Oil

& Fats

Manufacture of Miscellaneous Chemical

_

Products

74 33

61 00 5-00

105-00

—

8 00

5 00

84 92

24-50

•—

-

—

Manufacture of Glass & Glass Products Manufacture of Pottery, China & Earthen-

ware

140-25

6-00

39 89

12-00

Manufacture of Cement

95 00

220 00

—

—

115 00 50 00

Basic Metal Industries—Iron & Steel

—

—

—

—

—

—

— 197-50

Non-Ferrous Metals Industry

41-16

782-00

—

—

—

—

—

—

Manufacture of Me-tal Products except

—

—.

Machinery & Transport Equipment

27 65*

10-00

42 37

215-81

65 00

Manufacture of Machinery except Elec-

—

.

—

trical Machinery

25-00

83 39

Manufacture of Electrical Machinery,

—

—.

—.

Apparatus, Appliances, and Supplies

75-00

25 00

5 00

69-50

12 00

Manufacture of Rail-road Equipment

15 00

—

—

—

—

—

—

Manufacture of Motor Vehicles & Ancil-

.

,

.

250 45 laries

34 00

„

Manufacture of Bicycles

—

—

—

-

—

—

_

_.

Miscellaneous Manufacturing Industries

4 75

5-00

6-20

-

-

-

Electric Light & Power

40 00

—

—

—

—

—

—

—

Electricity, Gas and Steam

15 83

18-30 23 03

—

-

—

15 83

—

Mining & Quarrying-^Coal

—

—

60-00

—

—

—

—

—

Petroleum & Natural Gas

350 00

—

—

—

—

—

—

—

11910 Hotel Industry

—

—

—

—

—

—

642-00

2642-83

960 62

149>77

2S73-27

880-26

642-87 995 20

(30)

(20)

(60) No of Units State-wise

(18)

(17)

(3)

(7)

(8)
PART IV] THE GAZETTE OP INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 199
'D' (a)

Industrial Finance Corporation of India, up to 30th June, 1963 in each State.

(Rs. in lacs)

1

No. of Units

Rajas than

Orissa Punjab

Delhi

Mysore

Total

Uttar Pradesh

West Bengal

Pondi- chorry

Andaman & Nicobar Islands

RB,

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

211-75 85-00 331-00

433-00

4142-75

67

—

—

—

—

—

292-13 211-94

37-88

122-00 247-67 36-00

1728-93

157-96

40-62

38

-•

394 00

4 -•

—

—

—

—

—

—

—

- .

—

—.

—

. .

.—

—

4

103-00

3-00

10-00

142-00 105-00

1554-66

738-66 50-00

—

—

—

—

—

14

328-62

--

—

154-62

—

4 —

—

—

—

—

_

5-00

—

103-00 128-32

1501-65

12

—

—

—

—

2-50

—

38-00

3 35-50

—

—

—

—

—

—

—

—

—

—

—

29J-08

7-50

32-25 1000

10

1-50

—

—

—

— 20-00 82-00

— 223 92

9

9 35 00

88-00

307-10

2-85 3J-00

—

—

—

—

—

634-89

3-00 100-00

—

—

—

—

—

11

__

—

—

—

3 —

—

—

— 220-50

23-00

__

586-00

375-88

1785-04

—

—

4

—

—

—

259-50

747-33

—

20

—

127-00

—

—

—

—

—

9

40-00 139-00

315-39

—

—

28-00

—

—

—

—

—

—.

78-77 5 00

536-78

21 16-00

65-00 185-51

3

55-00

70-00

—

—

—

—

—

—

—

—

—

—

—

—

—

— 372-88

14-00

8 71-93

2-50

3

83 00

121-50

—

—

—

—

-

—

—

38-50

5-10 12-00

53-05

—

—

—

—

—

8 10-00

10-00

—

3-00

43-00

—

—

—•

—

—

2

—

6

19-14

109-28

_

—

—

—

—

—

17-15

4

32-00

92 00

—

—

—

—

—

.—

-„

350-00

—

—

—

—

—

—

1

107-10

65-54 70-00

361-74

7

—

—

—

—

—

—

3 00

893-51

1741-23 149-98

40-62 16433 09

110506

284 763-37

729-28

1220-22

(23)

(40)

(19)

(284)

(3)

(1)

(6)

(20)

(8)

0)

M/O116GI/63
200 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
APPENDIX 'E' m

APPENDIX 'E' (iii)

Statement showing classification of loans (net) sanc-

tioned by the Industrial Finance Corporation of India

Statement showing classification of financial assistance

(net) sanctioned by the Industrial Finance

Corporation of India as on 30th June, 1963

as on 30th June, 1963 (According to amount approved for each application)

(Rs. in lacs)

Amount

No. of applica- tions

Amount not exceeding Rs. 10 lacs 130

(0

Rs. 818 -40

92

Amount exceeding Rs. 10 lacs but not exceeding Rs. 20 lacs .

1,462 -79 (According to amount approved for each application)

(Rs. in lacs)

Amount

No. of applica- tions

Rs.

Amount not exceeding Rs. 10 lacs 167

1,041 -86 (0

(") Amount exceeding Rs. 10 lacs but not exceeding Rs. 20 lacs .

1,562'79

98

(iii)

(/")

Amount exceeding Rj. 20 lacs but not exceeding Rs. 30 lacs .

51

1,329-23 Amount exceeding Rs. 20 lacs but not exceeding Rs. 30 lacs .

54

1,407-02

(ly)

(iv)

Amount exceeding Rs. 30 lacs but not exceeding Rs. 40 lacs .

38

1,404 -94

(v) Amount exceeding Rs. 40 lacs but not exceeding Rs. 50 lacs .

1,858 -87

39

Amount exceeding Rs, 30 lacs but not exceeding Rs. 40 lacs .

1,614-15

44

(v)

1,858 -87 Amount exceeding Rs. 40 lacs but not exceeding Rs. 50 lacs .

39

(VI)

00 Amount exceeding Rs. 50 lacs but not exceeding Rs. 60 lacs .

16

910'07

1,013 03

18

Amount exceeding Rs. 50 lacs but not exceeding Rs. 60 lacs .

(vli)

Amount exceeding Rs. 60 lacs but not exceeding Rs. 70 lacs .

5

326 -89

326 -89

5

Amount exceeding Rs. 60 lacs but not exceeding Rs. 70 lacs .

,viii)

[viil)

Amount exceeding Rs. 70 lacs but lot exceeding Rs. 80 lacs .

10

765'00

920-00

12

Amount oxceeding Rs. 70 lacs but not exceeding Rs. 80 lacs .

(ix)

(ix)

Amount exceeding Rs. 80 lacs but lot exceeding Rs. 90 lacs . i

1,780 -00

20

1,780-00

20

Amount exceeding Rs. 80 lacs but not exceeding Rs. 90 lacs .

(x)

<*)<

13

1,282-20 Amount exceeding Rs. 90 lacs but not exceeding Rs. 1 crore . l

1,375 -20

14

Amount exceeding Rs. 90 lacs but not exceeding Ra. 1 crore .

(xi)

Amount exceeding Rs. 1 crore .

(xl) <

830 -00

5

12,768 -39

419

APPENDIX 'E' (ii)

3,533 -28

16

Amount exceeding Rs. 1 crore .

TOTAL

16,433 -09

487

APPENDIX ' E' (iv)

Statement showing classification of financial assistance (net)

sanctioned by the Industrial finance Corporation of India

as on 30th June, 1963

Statement showing classification of loans (net) sanc-

tioned by the Industrial Finance Corporation of

India as on 30th June 1963.

(According to amount approved for each industrial concern)

(Rs. in lacs)

Amount

No. of concerns

Rs.

(0

32

Amount not exceeding Rs. 10 lakhs

179 -24

Ctf) Amount exceeding Rs. 10 lacs but not exceeding Rs. 20 lacs . 38

607-96 (According to amount approved for each industrial concern)

(Rs. in lacs)

Amount

No. of concerns

Rs.

Amount not exceeding Rs. 10

(0

260-12

44

lakhs

00

37 575-71 Amount exceeding Rs. 10 lakhs but not exceeding Rs. 20 lakhs .

(Hi)

886-38 (HI)

35

Amount exceeding Rs. 20 lacs but not exceeding Rs. 30 lacs .

918 -90

34

Amount exceeding Rs. 20 lakhs but not exceeding R^. 30 lakhs.

(iv)

804-43 Amount exceeding Rs. 30 lakhs but not exceeding Rs. 40 Jakhs •

22

(Iv)

768 -50 Amount exceeding Rs. 30 lacs but not exceeding Rs. 40 lacs . 21

(v)

17

Amount exceeding Rs. 40 lacs but not exceeding Rs. 50 lacs .

799 47 (v)

964-98

21

Amount exceeding Rs, 40 lakhs but not exceeding Rs. 50 lakhs .

(w)

959-47

17

Amount exceeding Rs. 50 lakhs but not exceeding Rs. 60 Jakhs ,

tv/)

1,190-80 Amount exceeding Rs. 50 lacs but not exceeding Rs. 60 lacs

21

(wo

1034-24 (Vil)

841 -42 Amount exceeding Rs. 60 lacs but not exceeding Rs. 70 lacs , 13

16

Amount exceeding Rs. 60 lakhs but not exceeding Rs. 70 lakhs .

(viii)

670-83 (Vltf)

8

Amount exceeding Rs. 70 lacs but not exceeding Rs. 80 lacs .

596 -50

9

Amount exceeding Rs. 70 lakhs but not exceeding Rs. 80 lakhs .

(ix)

2135-00

24

Amount exceeding Rs. 80 lakhs but not exceeding Rs. 90 lakhs .

(ix)

2,310 -00 Amount exceeding Rs. 80 lacs but not exceeding Rs. 90 lacs , 26

(x)

11

1,079-75 Amount exceeding Rs. 90 lacs but not exceeding Rs. 1 crore .

(*)

879•51

9

Amount exceeding Rs. 90 lakhs but not exceeding Rs, 1 crore .

7262-42

•*32

Amount exceeding Rs. 1 crore ,

(xl)

•22

3,475 -85 Amount exceeding Rs. 1 crore .

TOTAL

12,768 -39

244

•It was only in respect of 5 out of these 22 concerns that any single application was approved for an amount exceeding Rs. 1 crore in each case. In respect of the other 17 every one of the applications approved was for not more than Rs. 1 crore, though the total of all the applications approved in respect of each of these 17 concerns come to more than Rs. 1 crore in all.

16433-09

265

TOTAL .

**It was only in respect of eighteen out of these 32 concerns that any single application was approved for an amount exceeding Rs. 1 croro in each c.ise. In respect of the other fourteen every one of the application approved was for not more than Rs, 1 crore, though the total of all the applications approved in respect of each of these fourteen concerns came to moro than Rs. I croro in all.
PART IV] THE GAZETTE OF INDTA, NOVEMBER 2, 1963/KARTIKA 11, 1885 201
APPENDIX "F"

General Review of Industries particularly in the fields in

which the Corporation has advanced loans.

9. During 1962, production of cotton yarn was 860 million kgs. as against 862 million kgs. in 1961 and that of cotton cloth was 4,560 million metres as against 4,701 million metres in 1961.

10. Indian cotton textile* continue to face very keen competition in international markets. With a view to encourage exports. Government have decided to replace plain looms by automatic looms. The Scheme originally provided for 9000 looms and was later increased by another 7500 looms. Against the second replacement of 7500 looms, however, mills should undertake to export 50 per ctfnt of their production (at the rate of 13,333 yards per year). Allotments for replacement have s>o far been issued in respect of 6,845 looms, In addition, it has also been provided that mills shall install indigenous automatic looms to a maximum of 48 looms provided mills undertake to export 50 per cent of their production (at the rate of 13,333 yards per loom per year). Govern- ment have also licensed 20 new units for export.

l.F.C. Assistance

During 1962-63, the second year of the Third Plan, the country made commendable progress. There was a further increase in industrial output. The index of indus- trial production with 1956 as base, touched an average of 153.4 during 1962-63, which shows an increase of about 8.5 per cent over the previous year. The upward trend was paiticularly marked in the case of jute manu- factures, woollen fabrics, steel, aluminium, machine tools, railway wagons, electric motors, power transformers, cables and wires, soda ash, viscose staple fibre, calcium carbide, H.T. and L.T. insulators and coated abrasives. Substantial additions in capacity were made in a number of industries, such as tyres and tubes, aluminium, and cables and wires, which recorded increases in output. In addition to these industries, manufacture of Industrial machinery has made good progress. The jute industry worked to full capacit) because of availability of adequate raw jute supplies, while production of cotton cloth and yarn was steady at the previous year's level.

2. The national emergency has necessitated a rcorien- tation of our industrial pattern so as to give priority to defence needs. The highest priority is being given to industries having a direct bearing on defence efforts.

3. The diversification of industries into related fields of manufacture and the establishment of entirely new ranges of production were significant pointers to broad- based industrial economy. Amongst the new items, pro- duction of vvhich was commenced during the year, men- tion may be made of formaldehyde, heavy water, tyre cord yarn, polystcr resins, transistors and diodes, perma- nent magnets, microscope slides and punchcard sorters.

Food manufacturing Industries except Beverage Industries 4. The production of confectionery, biscuits, chocolates, liquid glucose and dextrose powder exhibited a rising trend. The production of biscuits was 28,824 tonnes during 1962 as against 26,203 tonnes during the previous year; that of confectionery 18,218 tonnes as against 17,177 tonnes.

11. The Corporation has approved total net financial assistance of Rs. 1,639.93 lacs to this industry spread over 36 units as under :—

(Rs, in lacs) Loans 1364-78 Underwritings . . . . . . 8-50 Guarantees for defd. payments . . . 266-65

1639-93

12. The production figures of 31 units which are in production and whose loans were outstanding on the 30th June 1963 are as follows :—

(in million)

Products

Production in 1962-63

. 43-83 kg. . 112-78 metres Cotton yarn of various counts Cotton cloth Staple fibre yarn of various counts Art Silk Cloth Wasto Yarn . Staple fibre cloth

2-86 kg. 4-54 metres 011kg, 0-38 metres

Woollen Textile Industry

5. Infant milk food, so long imported, is being manu- factured in the country and the production was 3682 tonnes in 1962, nearly double the production during 1961. Imports have now been stopped and the entire demand is met indigenously. Capacity for the manufacture of skimmed, condensed milk and cheese has been established in the country.

6. The production of sugar during 1962-63 season was estimated at 21.5 lac metric tons which is less than the installed capacity of 1962-63 season which was 26.9 lac metric tons. The hulk of sugar produced was consumed internally, the off-take of sugar from factories being 15.53 lac m. tons. A small quantity of 3.64 lac. m. tons was despatched from factories for export. The closing stocks with the factories were of the order of 11.63 lac. m. tons.

13. Government have appointed a Controller of Wool- len Textiles to look after the supply of woollen goods for defence requirements. Steps have been taken to gear the production of the woollen industry for meeting the de- fence needs.

14. The installed capacity in the woollen industry at present is 49,409 woollen spindles, 140,880 worsted spind- les and 16,271 shoddy spindles. The existing licensed capacity being sufficient to meet the present requirements, no expansion in these sectors is being envisaged.

l.F.C. Assistance

15. The production of worsted yarn in 1962 was 17,677 thousand kgs. as compared to 14,757 thousand kgs. in 1961 and of worsted fabrics 18,180 thousand metres as against 13,200 thousand metres in 1961. Fabric produc- tion by the organised industry was 14,820 thousand metres as against 12,394 thousand metres in 1961. The decen- tralised powerloom sector also made a significant contri- bution in woollen fabric production.

l.F.C. Assistance

7. The financial assistance (net) approved by the Cor- poration in the case of food manufacturing industries up to 30th June 1963 aggregated Rs. 4,142.75 lacs. These are distributed over 66 units all of which are for the manufacture of sugar. Of these 66 units, 50 are in the cooperative sector which were sanctioned loans aggregat- ing Rs. 3.559,25 1 Mci. In all 53 units in the sugar indus- try have availed of loans of the order of Rs. 2,715.75 lacs. Seven of these, including one in the cooperative sector, have repaid in full the loans availed of by them. Out of the balance of 46 units, 4] are in production and the remaininq 5 have not yet gone into production. The production of the above 41 units comes to 658,979 tonnes of sugar, or 31 % of the total production of sugar in the country during the year.

16. The Corporation has approved a total net financial assistance of Rs. 89.00 lacs to two units of this industry up to 30-6-1963 as under :—

(Rs, in lacs)

77-00 Rupee loans Guarantee for Defd. payment . . . 7'00 5-00 Underwriting

89-00

17. One of the units has since repaid the loan in full and the production of the other unit during 1962-63 was as follows :—

Spinning, Weaving and Finishing of Textiles

Cotton Textile Industry

8. The present installed capacity of the industry is 14.12 million spindles and about 2 lakh looms. There are 500 textile mills, of which 290 are composite mills with 10.72 million spindles uxid about 2 lakh looms. The remaining 210 are spinning units and have 3.40 million spindles. During the year the industry pressed more spindles and looms on third shift.

Products

Production in 1962-63

65,725 kg.

Worsted yarn Blankets Socks Jerseys Cloth (worsted)

. 214,987" Nos. 1,430 Pairs . 45,205 Nos. . 153,869 metres
202 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
Manufacture of Artificial fibres

Manufacture of Rubber Products

Rayon Textile Industry

18. Total production of filament rayon yarn in 1962 is estimated at about 27.62 million kgs. as against 23.5 million kgs. in 1961. Two units licensed for the manu- facture of nylon yarn went into production in 1962.

19. Production of viscose staple fibre during the year was 32.38 million kgs. as compared to 26,06 million kgs. in 1961.

I.F.C. Assistance

20. The Corporation has approved loans (.net) aggre- gating Rs. 363 lacs to three concerns. One of them availed of the first loan of Rs. 50 lacs but did not avail of the additional loan of Rs. 60 lacs and subsequently also repaid in full the first loan. The second concern, a new one has drawn Rs. 293.00 lacs out of the loan of Rs. 350 lacs sanctioned to it. The third concern has so far drawn Rs. 3.18 lacs out of the loan of Rs. 20 lacs sanctioned to it as dollar loan but it has not yet gone into production. The second concern refer- red to above produced 2,997 kgs. of rayon yarn during 1962-63. The Corporation has also underwritten equity shares of another concern in this industry to the extent of Rs. 31 lacs.

27. The rubber goods manufacturing industry in India covers the manufacture of 130 diverse items. About 85 per cent of the raw rubber, however, is consumed by three important items, viz. automobile tyres and tubes, bicycle tyres and tubes, canvass and rubber foot-wear. Except in the case of automobile tyres and tubes where import of small quantities of a few sizes of tyres and tubes have to be allowed, the existing production of most of the items is sufficient to meet the requirements of the country. The internal demand for a number of items is increasing and for this reason the plan targets of pro- duction have been revised upward. The target for auto- mobile tyres and tubes has been revised from 3.75 million numbers each to 4.5 million numbers each and in order to cover some of the schemes dropping out or not materialising in time, it has been agreed to license up to 5.41 million numbers. The present installed capacity for them is 2.42 million numbers each.

Manufacture of Wood and Cork except manufacture of

Furniture

28. The main raw materials required by the industry are natural rubber, synthetic rubber, rayon cord, carbon black and rubber chemicals. About 50 per cent of the total requirements of natural rubber is being met from indigenous resources, while the balance of raw rubber and other raw materials has to be imported. Capacity has been established in the country for synthetic rubber as also for accelerators and anti-oxidants. The target of production of synthetic rubber and carbon black is 30,000 tonnes each.

I.F.C. Assistance

21. The plywood industry is meeting the entire demand of the country for (i) flush doors, (ii) block boards, (iii) commercial plywood, (iv) packing plywood, (v) tea-chest plywood, (vi) marine plywood and (vii) con- crete shuttering plywood. The production is being diversi- fied progressively to meet the demand for newer types of plywood. Some types of aircraft plywood are also being made and a number of gliders have been fabricated out of indigenous aircraft plywood, A plant with a capacity of 36 million sq. ft. of decorative sliced veneers was set up in Jammu and Kashmir State during the year.

22. During 1962, 9,785 thousand sq. metres of tea- chest plywood and 7,457 thousand metres of commercial plywood were produced.

N 29. The Corporation has financed 4 units of this indus- try with a net total financial assistance of Rs. 328.62 lacs made up as under :—

(Rs. in lacs)

Loans 269-00 Guarantee for defd. payments . . . 39-62 20-00 Underwritings

30. Out of the 4 units, three are in production and the fourth unit is under completion. The figures of produc- tion recorded by the three units in the major items during the year are given below :

I.F.C. Assistance

23. Loans aggregating Rs. 103 lacs have been approved by the Corporation for four units under this category, engaged in the production of plywood, tea-cheat, and hard- board. This figure includes two Dollar loans equivalent to Rs. 59.66 lacs. All the three concerns have availed themselves of loans and the production of two of them during the year 1962-63 was 13,18 million sq. ft. of plywood and 10.35 million sq. ft. of hard-board.

Products

Production in 1962-63

691,460 Nos. 1,319,624 Meters 226,001 Nos. 2,844,646 Nos.

225,843 Meters 620,580 Gross

Manufacture of Paper and Paper Products

24. The production of paper and paper board during 1962 was 3.84 lac tons. Two new units of 13,800 tonnes capacity commenced production during the year. Addi- tional capacity of 7.34 lakh tonnes was also licensed, bringing the total licensed capacity for manufacture of paper and paper board to 11.68 lakh tonnes,

2,449,602 Core Meters 2,664,852 Kg.

53,985 Nos. 57,685 Nos 74,710 Kg. 50,854 Pairs 8,901 Pairs 111,182 Pairs 127,327 Kg.

Industrial V-belts and fan belts . Transmission & Conveyor Belting¹; Rubber Hose . . .. Cycle Tyres and Tubes Rubberised fabrics I.B. Caps . . .. Cables . . .. Camel back . . .. Engine Mounting Radiator Hoses Auto-parts . . .. Surgical gloves Industrial gloves Gum Boots . . .. Cushion Compound . Automobile Tyres Vulcanising Cement Oil seals . . ..

4,864 Nos. 356,015 Litres 352,502 Nos.

Basic Industrial Chemicals Including Fertilisers

25. Target capacity of 150,000 tonnes per year and production of 120,000 tonnes per year have been envisag- ed for newsprint in the Third Plan. The NEPA Mills with a production capacity of 30,000 tonnes is the only newspaper mill in production at present. It is proposed to enhance the capacity of the mill to 60,000 tonnes per year. Besides this three units with a capacity of 150,000 tonnes per year have been licensed.

I.F.C. Assistance

26. The Corporation has financed 14 units of this industry with a net total financial assistance of Rs. 1554.66 lacs made up as under :—

(Rs, in lacs)

Rupee loans . . . . .. 847-66 Foreign Currency loans , 154-C0 Guarantee for deferred payments . . . 498-00 55-00 Underwritings

The figures of production of the 9 units of this industry whose loans were outstanding on the 30th June 1963 are civen below :—

Production in Products

1962-63

36,342 M.T. Pulp . . ..

Paper & paper boards

. 168,361 M.T 31. The chemical industries maintained satisfactory level of output despite foreign exchange shortage. With the going into production of some of the units already licensed, output of soda ash is expected to increase signi- ficantly. Production of industrial explosives, safety fuses, polyethylene, polystyrene, potassium permanganate and antibiotics like penicillin, tetracyclines and chlorampheni- col recorded considerable increase. Output of aspirin, Vita- min Bu and sodium hydrosulphlte nearly doubled, while that of Vitamin C, nicotinic acid and amide was establish- ed on regular footing. In the case of Nitrogen Gas and Argon Gas, production went up by 60 and 70 per cent, respectively. Bichromates, calcium chloride, iron-free aluminium sulphate, nitric acid and phosphoric acid also recorded increased. New items like streptomycin, anti- histamines and tranquillisers like buclizine, meclozine hydroxyzine and meprobamate, formaldehyde, polyster, pyro-technic and aluminium powder were produced for the first time in the country. A scheme was licensed for the manufacture of picolines, the raw materials for a number of essential drugs such as I.N.H,, nicotinic acid and amide and nikethamide.
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 203
Manufacture of Miscellaneous Chemicals

Sulphuric Acid, Soda Ash, Caustic Soda, Bleaching

Powder and other Allied Chemicals

Drugs and Pharmaceuticals

32. The following table shows the production of the

above chemicals during 1962 as compared to 1961 :

(In metric tonnes-)

1961

1962 38. Considerable increase was recorded in the produc- tion of antibiotics like penicillin, tetracyclines and chlo- ramphenicol, while output of aspirin and Vitamin B]2 nearly doubled. Regular production was also established for Vitamin C, nicotinic acid and amide. Streptomycin was produced for the first time in the country at the Hindustan Antibiotics Ltd. Anti-histamines and tranquil- lisers v^ere also manufactured for the first time. The production of Vitamin C so far undertaken from imported sorbitol was switched over to the' indigenously available glucose producing sorbitol as an intermediate product.

Paints and Surface Coating Materials

Sulphuric Acid . . .. S o da A sh C a u s t ic S o da . . . .. S o d i um B i c a r b o n a te . . .. B l e a c h i ng P o w d er . . .. L i q u id C h l o r i ne . . .. H y d r o g en P e r o x i de P o t a s i um C h l o r a te . . .. C a l c i um C a r b i de . . ..

422,496 176,639 119,854 8,671 7,128 33,922 1,619 3,792 19,460

• 469,467 222,577 124,220 10,682 6,272 37,863 1,815 4,118 26,423

I.F.C. Assistance

33. The Corporation has financed 12 units of this industry with a net tptal financial assistance of Rs. 1501.65 lacs made up as under :

(Rs. in lacs) 39. Output of standard quality paints, enamels and varnishes and important raw materials like alumina paste, chrome colours, phthalocyanine blue, alkyd resin and phenolic resin snowed an upward trend; that of titanium dioxide, however, fell due to power shortage. A number of new lines of manufacture including new industrial finishes based on epoxy, Polyvinyl and Acrylic resins have also been manufactured in the country.

I.F.C. Assistance

Rupee Loans 940-31 Foreign Currency loan . . . . . 170-00 Guarantees for defd. paymonts . . .. 1 5 4 07 Underwritings Foreign loan guarantee

10 00 221-21

1501-65

34. Out of the 12 units, 7 units arc in production. The actual production recorded by them during the year is as under :

Products

Production in 1962-63

Sulphuric Acid Ammonia Ammonium Chloride Soda Ash Calcium Chloride Liquid Chlorine Caustic Soda Sulphate of Alumina Fertilisers Hydrochloric Acid Nitric Acid

65,510 M.T. 13,792 „ 5,746 „ 44,960 „ 820 ,, 4,034 ,, 44,017 „ 4,558 „ 108,505 ,, 2,932 „ 126 „

Manufacture of Vegetable and Animal Oil and Fats 35. There are, at present, 50 solvent extraction plants with a total capacity of 10,20 lakh tonnes in terms of oil cake per annum. In addition 27 units with a capacity of 4.71 lakh tonnes per annum have been licensed. There is a considerable export market for solvent extracted meal.

36. There are, at present, 14 units for the manufacture of cotton seed oil with a total capacity of 2.20 lakh tonnes. Five new units were licensed during the year.

40. The Corporation has financed 10 units of this industry with a net total financial assistance of Rs. 295.08 lacs as under :

(Rs. in lacs)

Rupee loans . . . . . .. 162-83 Foreign Currency loans . . . .. 104-75 Underwritings . . . . . . . 27-50

295'08

41. The more important products of this Industry manu- factured by three concerns in this group (one having stopped production) and by certain other borrower con- cerns which are mainly engaged in other industries but manufacture some products relating to this industry and the production recorded by them were as follows :

Products

Production in 1962-63

264 M. Tons

. . ..

1,206 ,, 2,021 ,, 7,424 „ 822 ,, 5,438 „ 333,290 Litres 90,301 ,, 185,628 ,, 891,117 „

892 M. Tons

7,813 „ 4,792 Litres T i t a n i um D i o x i de R ed L e ad . . .. S o da B i c a rb . . .. B l e a c h i ng P o w d er Z i nc O x i de a nd zinc d u st F e r r ic A l um . . ; . P a i n ts L i q u id d i s i n f e c t a nt D i s t i l l ed W a t er . . .. S p i r it . . .. E p s om Salt . . .. Misc. Chemicals Bleach Liquor Calcium Chloride

157 M. Tons

I.F.C. Assistance

Manufacture of Glass and Glass Products

42. There was a marked increase in the production of bottleware and laboratory glassware. The capacity for the manufacture of glass shells and sheet glass also increased. Several new units came into existence.'

I.F.C. Assistance

37. Loans aggregating Rs. 38 lacs have been approved by the Corporation for three units of this industry up to 30-6-1963 which include a cooperative society to whom a Irfan of Rs. 22.50 lacs has been sanctioned. Two of these units have availed themselves of the loans to the extent of Rs. 15.50 lacs. As stated in our previous reviews, the factory of one of the units was sold by the Corpora- tion, towards realisation of its dues. The production of the other unit and certain other units which are mainly engaged in other industries but manufacture some pro- ducts relating to this industry was as follows :

P r o d u c ts

Production in 1962-63

C o t t on s e ed o il . . .. G r o u n d n ut o il - C o t t on s e ed c a ke p e l l e ts . C o t t on s e ed l i n t e re . . .. C o t t on s e ed h u sk . . .. V e g e t a b le o i l - r e f i n ed a nd h a r d e n ed T o i l et a nd l a u n d ry s o a ps . V a n a s p a tl . . . .. C o t t on s e ed e x t r a c t i o ns G r o u n d n ut c a ke . . ..

2,206 M. Tons 2,313 „ 1,785 ,, 620 ,, 5,015 „ 763 „ • 931 „ 12,851 ,, 7,285 ,, 273 ,, 43. Loans aggregating Rs. 225.93 lacs have been approved by the Corporation for nine units of this indus- try up to 30th June 1963. This figure includes dollar loans to the equivalent of Rs. 73 lacs approved for four concerns for import of machinery from abroad, and D. M. loan equivalent to Rs. 5.00 lacs. Bight of them have availed themselves of loans to the extent of Rs. 182.20 lacs. As stated in our previous reviews, the factory of one of these units was sold by the Corporation in part realisation of its dues. The more important products manufactured by the three units in this group which have gone into production were sheet glass, bottles, pressed and lamp ware and other items of glassware and the actual production recorded by them during the year 1962-63 was 1,663 m. tons of glassware, 20,016 m. tons of glass containers and 21,426 m. tons of sheet glass (16/18 oz. thickness). One of the units in this group is also engaged in the manufacture of Hurricane Lanterns, Ena- melware. Safety Stoves and Electric Motors.
204 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
Manufacture of Pottery, China and Earthenware

44. The production of insulators, glazed titles, sanitary wares and white wares was increased considerably. Cera- mic transfer papers were produced in the country for the first time.

45. In view of the growing importance of the refrac- tory industries, the production target during the Third Plan has been fixed at 2 million tonnes. Against this, the actual installed capacity is 8.43 lakh tonnes. The actual production during 1962 may be around 6.70 lakh tonnes, recording a 10% increase over the previous year.

53. The supply position of pig iron (foundry grade) remained 'unsatisfactory—production ranging at about 1 million tonnes against an estimated demand of about 1.8 million tonnes.

54. The availability of steel was also short of the demand, particularly in respect of thinner plates, sheets, tinplates and galvanised wire. I.F.C. Assistance

55. The Corporation has approved net financial assis- tance to the extent of Rs. 220.50 lacs for three concerns under this category as under :

I.F.C. Assistance

46. The Corporation has financed 9 units of this indus- try with a net total financial assistance of Rs. 307.10 lacs as under :

(Rs. in lacs) Rupee loans 292-10 Underwriting . . . . . . . 15'00

307-10

47. Out of the 9 units, 5 units are in production. The more important products manufactured and the produc- tion recorded by them were as follows :

P r o d u c ts

rrouucrion in 1962-63

1,568 M. Tons

89,595 ,, 4,575 ,, 9,107 ,, 478 „ 3,120 ,, S t o n e w a re p i p es a nd fittings R e f r a c t o r i es . . . .. I n s u l a t o rs . . . .. C r o c k e ry ( s t o n e w a re & e a r t h e n w a r e) . S t o n e w a re j a rs . . .. C u ps a nd s a u c e rs . . .. S a n i t a ry w a re . . .. M o r t a rs . . . .. Insulating Bricks . . ' .

112 Tons 2,450 M.T. 324 M.T. Loans Underwritings

(Rs. in lacs) 173'00 47-50 220-50

56. One concern was engaged in the production of sugar and subsequently took up a scheme for the produc- tion of ferro-manganese also. One of the concerns which has availed of the loan fully (Rs. 23.00 lacs) produced 13,026 m. tons of ferro-maganese during the year 1962-63. Non-jerrous metals

57. The pace of progress in most of the metallurgical industries was satisfactory within the limited foreign exchange facilities for raw materials. Almost all the metallurgical industries except copper, lead, aluminium/ brass/copper sheets, circles and electrolytic copper wire and rods, registered significant rise in production. Paucity of ores and concentrates for antimony and lead, and the need to adjust production to availability of aluminium/ brass/copper sheets, circles and electrolytic copper wire and rods, were responsible for the set-back in their pro- duction. Imports of ore for the production of antimony and of raw materials like calcined petroleum, coke, cryo- lite, aluminium-flouride, etc. are being allowed. Alumi- nium industry is likely to achieve self-sufficiency during the current Plan period.

Manufacture of Cement

48. Production of cement recorded a moderate increase from 8.24 million tonnes in 1961 to 8.58 million tonnes in 1962. The number of cement factories in the Indian Union totalled 35. The total effective capacity licensed/ approved for current production is 17.45 million tonnes a year. Research and development in cement industry has now assumed greater importance, particularly as the lime- stone reserves are limited and greater resort has to be made to new kinds of raw materials such as blast furnace slag and pozzolonic materials, as well as for using low grade limestone.

49. There are, at present, seven units manufacturing asbestos cement products, their total installed capacity being 2.79 lakh tonnes per annum. Actual output rose slightly from 2.14 lakh tonnes in 1961 to 2.34 lakh tonnes in 1962.

58. The production of ferro-manganese during 1962 is

estimated at 107,921 metric tonnes. I.F.C. Assistance

59. The Corporation has financed 4 units of this indus- try with a net financial assistance of Rs. 1,785.04 lacs made up as under :

(Rs. in lacs) 337-16

120-00 Rupee Joans Guarantee for Defd. payment . . .. 665-88 Underwriting Foreign loan guarantee . . . .. 662-00

1785-04

60. The principal products manufactured by the three units which are in production and the production record- ed by them was as follows :

I.F.C. Assistance

50. The Corporation has approved net financial assist- ance aggregating Rs. 634.89 lacs for eleven units of this industry up to 30lh lune 1963 as under :

(Rs. in lacs) Products

Production in 1962-63

Aluminium ingots Aluminium sheets and circles

7,196 M. Tons 2,603 „

Manufacture of Metal Products except machinery and

Transport Equipment

Rupee loans Underwriting

619-00 15-89 634-89

51. The production recorded by the six units plus that of another unit whose main line of production is paper etc., but which also manufactures cement, was as follows :

Production in 1962-63 Products

1,229,076 M. Tons Portland Cement Asbestos Cement Other cement products

386,761 ,, 3,654 ,, 61. There was a substantial increase in production, particularly in regard to items such as ball bearing, type- writers, sewing machines, hurricane lanterns, zip fastners, leaf springs, etc, in 1962. Punchcard sorters were manu- factured for the first time in the country, while the valve, nail and spring industries diversified their production programme to manufacture lubricated plug valves, indus- trial coil spring and upholstery nails. Further capacity for the manufacture of motor-cycle and auto-chains, ball bearings, sorters and tabulators, beltings and tin-containers was licensed during 1962. The number of sewing machines manufactured in 1962 went up to 342,971 from 317,400 in 1961.

I.F.C. Assistance

Basic Metal Industries

Iron and Steel

52, The production of iron and steel during 1962 was

as under :

Finished steel Pig iron

m.t. 3,707,750 m.t. 973,531

62. The Corporation has approved net financial assis- tance aggregating Rs. 747.33 lacs for twenty units of this industry up to the 30th June 1963 made up as under :

(Rs. in lacs) 674-96 Rupee loans Underwritings 50-00 Defd. payment guarantee 22-37

747-33
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 205
Manufacture of Electrical Machinery apparatus,

Appliances and Supplies

63. The more important products of this industry manufactured by six concerns, whose loans were out- standing on the 30th June, 1963 and by three other concerns mainly engaged in other industries and the production recorded by them were as follows :

Products

Production in 1962-63

53,958 M. Tons. 74,288 „ 7,51,147 Gross

8,268 M. Tons

. Rs. 46-43 lacs (worth) 2,97,193 Nos. 80,349 Doz. 17,287 Nos. 42,367 Gross 10,087 Pcs. 16,930 Ft.

3,282 M. Tons Steel bars and rocb, Steel tubes Wood screws Steel castings . Steel (job work; Sewing machines Hurricane lanterns Safety Stoves Hacksaw,Blades Woodworking saws , Band saws Steel structures Hand saw Blades Wood band saw blades

27,662 Pcs. 81,964 Metres 70. The production of most of the electrical items showed an encouraging trend. Commendable increase in production was achieved in items like electric lamps, fluorescent lamps, miniature lamps, fans, radio receivers, air-conditioners, water-coolers, refrigerators, housescrvice meters, motors, power-cables, transformers etc.

71. The production of winding wires, power cables, VIR and PVC cables recorded an increase, while the production of barecopper conductors declined during the year ow,ing to the switch-over from bare-copper conduc- tors to aluminium conductors to save foreign exchange on import of copper.

72. The production of raido-sets was stepped up during the year by use of more indigenous components, like valves, loud speakers, potentiometers, carbon resistors, paper, mica and ceramic capacitors etc.

Manufacture of Machinery except Electrical Machinery

Sugar Mill Machinery.

64. The Sugar Mill Machinery Industry has made com- mendable progress during the last few years and the indigenous manufacturers are in a position to meet the country's entire requirement for complete sugar plants. Production increased from less than a million rupees in 1951 to about Rs. 42 million in 1961 and have reached Rs. 64.3 million in 1962. The present capacity can take care of 14 new standard plants per annum (equivalent of 9 plants by way of expansion and replacements). A notable recent development is the manufacture of high- speed centrifugals and heavy-duty gears for the milling plant.

65. There arc, at present, seven firms manufacturing complete plants and eighteen others specialising in the manufacture ot various items of sugar-mill machinery against specific orders. In addition, a new unit in colla- boration with a U.K. firm has been licensed, Textile Machinery,

66. The present annual licensed capacity of the industry is Rs. 44 crores and the production in 1962 was Rs. 14.50 crores. The major manufacturers have planned to double their production and are likely to produce machinery worth Rs. 27.5 crores in the current year. The annual production of components/spares/accessories is about Rs. 15 crores. Tea Processing Machinery,

73. Among other new items whose manufacture was commenced during the year, mention may be made of permanent magnet which was produced for the first time in the country.

/. F. C. Assistance.

74. The Corporation has approved net financial assis- tance aggregating Rs. 536.78 lacs for twenty-one units of this industry up to 30-6-1963 made up as under :

(Rs. in lacs)

320-28 Rupee loans Foreign cuircncy loans . . . .. 151 -00 Underwriting . . . . . . • 65'50

536-78

75. The principal products manufactured by the con- cerns in this group, whose loans were outstanding on the 30th June, 1963 except the one which had stopped pro- duction and the production recorded by them were as follows :

Production irt 1962-63 P r o d u c ts

48,331 Nos. 1,173 ,, 1,37,266 „

36,767 45,675 ,, 6,29,402 ,, 20,717 „

6,931 M.T. 2,78,416 Nos. 2,47,53 Kg. 17,570 K g. 60,552 Kg.

E l e c t r ic M o t o rs . . .. T r a n s f o r m e rs . . . .. M o t or B a t t e r i es . . .. T r a in l i g h t i ng b a t t e r i es P. T. c u l l s, s t a t i o n e ry c e l ls e t c. E l e c t r ic f a ns . . . .. Electric accessories H.D.B. & cad copper conductors . House service electric metres Ars. Copper Rods . . .. Brass wire and rods Copper wire . . . .. Misc. X-Ray Elcctio Medical equipment

120 Nos.

Manufacture of Rail-road equipment

67. The industry produces practically the entire range of equipment and is making steady progress. It would have attained the projected capacity of Rs. 2 crores last year but for the prolonged strike in one of the major unit. Among the speciality products manufactured are special type tea-rollers and electro-static tea leaf stalk extractors. /. F. C. Assistance,

68. The Corporation has approved net financial assis- tance aggregating Rs. 315.39 lacs for nine units of this industry up to the 30th June, 1963 as under :

Rupee loans Underwriting

(Rs. in lacs) 303'39 12-00

l l 5 - 39

69. The principal products in this group manufactured by three concerns whose loans were outstanding on the 30th June, 1963 and by another concern engaged in another industry also and the production recorded by them were as follows :

Products

Production in 1962-63

1,095 Nos.

865 Doz. sets 34 Doz. pcs.

22,448 Nos. 2,197 „ 2,156 „ 2,22,107 ,, 50,000 „

37

76. The Third pan target for the production of railway wagons is 36,000 wagons per annum. The actual produc- tion in 1962 was 14,049 wagons as against 11,040 in 1961.

/. F. C. Assistance.

77. The Corporation has approved net financial assis- tance aggregating Rs. 70 lacs for two concerns in this industry up to the 30th June, 1963. Both of them have availed themselves of the loans fully.

78. The principal products manufactured by them and another which is mamly engaged in another industry and the production recorded by them were as follows :

Production in 1962-63 Products

. ' 33,677 Nos.

7,888 „ 1,208 „

. Rs. 3-62 lacs (worth)

509 Nos. •

. . ..

4,745 „ 11,185 „ 704 „ Screw couplings Lever frames . . .. Wagons . . .. Signalling Equipment Road Rollers (Steam & Diesel) . Axles Wheel centres . Shock Absorbers

Manufacture of Motor Vehicles and Anclllaries

Revolving flat carding-engines Healds Reeds Oil engines up to 5 B.H.P. Oil engines 10 to 48 B.H.P. Cone Pulleys and Lathes Pistons A m m u n i t i on B o x es . . .. Tea Machinery T ea R o l l e rs O t h er i t e ms like b r e a k e r s, sifters, s o r t e rs e x t r a c t o rs etc. . . ..

264

Jute Mill & Miscellaneous machinery Other items like top winders, jute softners

'36

Rs. 18-50 lacs and cloth rollers M i s c e l l a n e o us s p a r es P r i n t i ng m a c h i n es . . ..

16

79. Programme of the automobile industry for achiev- ing a minimum of 90 per cent indigenous content and coming up to the Third Plan production target were approved in 1962. The industry is likely to achieve 90 per cent indigenous content during 1964 in almost all types of automobiles manufactured in the country.
206 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
Hotel Industry

80. Higher trends of production were achieved in res- pect of a large number of items of automobile ancillary industry as several new units went into production. Pro- duction achieved in 1962 is estimated at Rs. 18 crores against the total output of Rs. 12.5 crores in 1961.

81. Production of road rollers reached 589 numbers

in 1962 compared to 515 in 1961.

/. F. C. Assistance.

82. Net financial assistance to the extent of Rs. 372.88 lacs has been approved by the Corporation for eight units in this industry up to the 30th June, 1963 as under :

(Rs. in lacs)

Rupee loans

214 '80

Foreign currency loam

51-13

Underwriting?

80 00

Deferred payment guarantees . .. 26 • 95 87. At present there are about 11,500 hotel beds avail- able in the country. The SFC Act and the IFC Act have been amended so as to enable them to finance the hotel industry. The Department of Tourism of the Govern' ment of India is rendering all possible help to the hotel industry by arranging for import licenses, procurement of building materials etc. Foreign exchange is being released to hoteliers for publicity in foreign countries. As a result of the various incentives offered by the Dept. of Tourism, a small increase of 348 rooms in the hotel accommoda- tion was registered at Bombay, Agra, Delhi and Udaipur. The applicability of the provisions regarding the income tax holiday to the hotel industry has served as an incen- tive for prospective hoteliers but their Projects to Cons- truct new hotel are to a great extent hampered due to the non-availability of suitable sites at reasonable rates.

I.F.C. Assistance

372-88

83. The principal products manufactured by the two concerns in this group and the production recorded by them were as follows :

Production in 1962-63 Products

Scooters . . ..

9,796 Nos.

Brake lining . . ..

136-85 M.T.

1,29,205 Litres Hydraulic brake fluid

6,479 Nos.

Motor cycles and 3 wheelers

88. The Corporation has so far sanctioned four loans aggregating Rs. 204.7 lacs to the hotel industry. Two of them have availed themselves of loans aggregating Rs. 39.00 lacs for setting up modern hotels at Bombay and Agra. The hotel at Bombay has a capacity of 100 beds and the one at Agra a capacity of 170 beds. The third loan of Rs. 150 lacs has been sanctioned for financing the construction of three hotels at New Delhi, Agra and Bombay with 350. 125 and 350 rooms respec- tively. In this case, the Corporation has also agreed to guarantee a dollar loan equivalent to Rs. 147.00 lacs from the Exim Bank of the U.S.A.

89. The Corporation has also underwritten shares to the extent of Rs. 10 lacs of a company which proposes to establish a Western style hotel at Calcutta with a capa- city of 144 rooms.

Manufacture of Bicycles

I.F.C. Assistance

Coal

84. The Corporation has approved loans aggregating Rs. 121.50 lacs for three units of this industry up to the 30th June, 1963 and two of them have availed them- selves of the loans to the extent of Rs. 110.50 lacs. During the year 1962-63, the two concerns manufactured 411,274 complete bicycles as also bicycle parts like chains, hubs, pedals, spokes,, saddles, freewheels, B. B. fittings, head-fittings etc.

90. Total coal production in the country in 1962 amounted to 61.5 million metric tons as against 56.10 million metric tons in 1961. Although this indicates a relatively higher tempo of production it is still far off from the average rate of production required to fulfil the Third Five Year Plan target of 97 million tons per annum.

Miscellaneous Manufacturing Industries

I.F.C. Assistance

I.F.C. Assistance

91. The Corporation has so far approved loans for an aggregate amount of Rs. 82.00 lacs to three concerns engaged in the coal mining industry and two of them have availed of the loans to the extent of Rs. 13 lacs.

Petroleum

85. The Corporation had approved loans aggregating Rs. 53.05 lacs to eight units in this group up to the 30th June, 1963. This includes a dollar loan equivalent to Rs. 4,75,000/- to one unit which proposes to manufacture alarm time pieces. Seven of these concerns which are engaged-in the production of zip fasteners, electro-plated goods, industrial cloth, processing and printing of motion picture film etc., availed themselves of loans to the extent of Rs. 44.00 lacs. Three of the concerns repaid the loans in full and the factories of two other concerns were sold by the Corporation in realisation of its dues.

Electric Power

92. The Corporation subscribed to debenture stock to the extent of Rs. 182 lacs and underwrote the debenture stock to the extent of Rs. 168 lacs of a company engaged in prospecting and development of oil fields in Assam.

Electricity, Gas and Steam

I.F.C. Assistance

86. The Corporation has approved loans aggregating Rs. 43 lacs for two units of this industry upto the 30th June, 1963 and both of them availed themselves of the loans fully. During the year one of them repaid the loan. The other concern, and another concern engaged in this as also in another Industry, together produced 80.013 million unks of electricity during the year.

93. The Corporation has for the first time, approved a loan of Rs. 109.28 lacs to one concern engaged in the manufacture of Oxygen gas. The loans has not yet been availed of by the concern.

94. A statement attached herein as Appendix 'G' shows the extent to which the Corporation has contribut- ed to meeting the needs for Industrial Finance during the last fifteen years.
PAKT IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 207
APPENDIX 'G'

Statement Showing

(a) Number of units in each type of industry for whom financial assistance wore approved (6) Total paid-up capital of the units in each type of industry (c) Total installed capacity each industry will have when the financial assistance is fully availed of, and (d) Total Sales in 1962-63.

(Rs. in lacs)

No. of units

Type of Industry

SI. No.

Expected total installed capacity when financial assistance approved by the Corporation is availed of

Total Net sales in 1962-63

Total pak up capi- tal of the units in each typo of indus-

try

Financia assistance (net) approved upto 30th Jun 1963

5

6

4

1

7 2

3

1946-13 4142-75 Sugar Cane Crushing Capacity 85,200 tons per 6247-43

67

1

day.

Food Manufacturing Industries except Beverago Industries.

38

2

840-44 1728-93

Spindles

12,72998 2948-61 Manufacture of Textiles-Spinning Weaving & Finishing of Textiles

Looms

13,521

Woollen Textiles Spindles

12,162 11411

Looms

84

4

3 Manufacture of Artificial Fibres

475-79 394-00 Viscose Filament Rayon .. Yarn 625 tons per day. 120 Donires Rayon Yarn .. 8-6 tons per day.

Monofilament nylon yarn .. 2 tonnes per day.

68-25

Styrene monomer .. .. 10,000 tons per annum

55-14 103-00

4

4

j-83-04 Manufacture of Wood and Cork except Manufacture of Furniture.

Plywood 31-1 million sq. ft. p.a Hardboard 19,500 tons p.a. Tea-Chest 10-2 million sq. ft. p.a

1712-54

14

1554-66

5 Manufacture of Paper and Paper Products.

3512-25

Paper and Board .. 2,81,475 tons p.a. Dry Bleached Sulphate .. .. "| Bamboo Pulp .. V 4,62,00 tons p.a. (for paper making) .. J

4

Manufacture of Rubber Products

225-33 328-62

6

533-46

Cycle Tyers 18,00 lacs p. a. Cycle Tubes 16-00 lacs p.a. Transmission and Conveyor belting 60,60,000 ft. p. a. V belts and Fan belts.. .. 9,60,000 p. a. Automobile tyres .. .. 5-40 lacs p. a. „ tubes .. .. 5,40 lacs p. a. Rubber Products .. .. Rs. 50 lacs worth of products p. a.

1002-59

12

7

1501-65

Manufacture of Basic Industrial Chemicals including Fertilisers.

1162-48

Hydrochloric Acid .. .. 19,800 tons p. a.") Sulphuric Acid .. .. 1,39,530 „ „ Caustic Soda .. .. 1,28,585 „ „ Soda Ash 75,600 „ „ Ammonia 85,000 „ „ Ammonium Sulphate 56,000 „ „ f Superphosphate .. .. 1,14,000 „ „ Ammonium chloride .. 8,230 ,, „ Carbon-di-sulphide .. 1,500 „ „ Chlorine 18,738 „ „. Sulphurdioxide .. .. 3,000 ,, „ Mixed Fertilisers .. .. 60,000 „ „ J

27-32

3

8

3800

Manufacture of Vegetable & Animal Oil and Fats.

122 10

Oil Seeds and Cakes (Crushing) .. .. 100 tons per day. CottonSeed 30tonsperday. (Processing)

90-69

10

295-08

9

Titanium Dioxide .. ,. 6,480 tons p.a. 74-53 Manufacture of Miscellaneous Chemical Products.

Ferric Alum 21,600 tons p.a. *1

Red Lead (Non-setting) .. 100 tons p.m. 1

11-59

Polystyrene .. .'. .. 28 8 million lbs.

per annum. J

Red Lead (setting) .. .. ")

> 100 tons p.m.

Ordinary YttHow .. .. J Litharge.

*Based on latest available information but do not include the figures in respect of concerns (i) which have repaid the loans in full, (ii) which have declined the assistance approved, (iii) to whom assistance has not been made available, (iv) which have not gone into production, (v) whose factories have been sold by the Corporation; and (vl) which have stopped working.
208 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [?ART IV
APPENDIX 'Q'—Contd.
7 1 4 5 3 6 2
6375-97 10086-69

14879-85

156

B/f.

Potassium Chlorate

52 tons p.m. T

Chloride (Ferric* Aluminium and Barium)

600 tons p. a.

Zinc Oxide

1,200 tons p. a.J

Carbon-di- Sulphide

5 tons per day.

Anhydrous Sodium sulphate

20 tons per day.

Miscellaneous Chemical Products Synthetic camphor

900 tons p.a.

Natrium Sulphozylate Formaldehyde

1,800 tons p.a.

6,000 tons p.a.

P. V. C. Resins

Miscellaneous Chemical products (Gelatine, Bone Fertilisers, Bono glue. Bone Flour, crushed bone, Bone grist, sinews, Bono Meal etc.)

8,925 tons p.a.

10

9 205-98 225-92

166-92

45 million sq. ft.

Manufacture of Glass and Glass Products.

Sheet Glass Other Kinds of Glass products viz., Bottles, Tumblers, etc.

45,300 tons p.a. "j

194-55

Wired and figure glass

140~lacs sq. ft. p.a. >

250 pcs. per day. J

Glass Corboys

300 pcs. per day.

Heavy pressed articles Glass pressed tumblers

180 pcs. per day.

Glass-lined equipments

Rs. 30 lacs worth

p. a.

11

192-94 307 10

209-16

9

Potteries

Manufacture of Pottery, China & Earthenware.

Rs. 1,58,32,000 worth of products

p.a.

Ceramics and Refractories

Stoneware Pipes

1,500 tons p. a A

Fireclay Refractories

1.21,660 „ .,

80 47

35,200 „ „ -

4,95,200 „ „

Silica Bricks Other Refractories

5,400 „ J

Ceramics

12 Manufacture of Cement

889-99

1010-55

11

634-89 Cements

26,51.300 tons p.a.

13

— 220'50

42,000 tons p. a.

3

Ferro-Manganese

Basic Metal Industries Iron & Steel.

231-84

Constructional Steel ..

18,000 tons p. a.

14

335 09

4

Non-ferrous Metals Industry.

Lead Concentrates

1785-04

6,000 tons p. a.

51-95

Zinc Pig Lead Silver

27.000 „ ,,-1 6,000 „ „! 3,60,00,000 troy f oz. per annum. J

Brass & Copper Sheet & Strips

6,000 tons p. a.

17,500 „ ,,-1

Ingots (Aluminium)

292•73

4,900 „ ,,J

Sheet & Circles (A|uminium)

230-08

500 „ .."I 1,000 „ ,,1 2,400 „ , ,f 15,000 „ ,,J

Aluminium Foils Extrusions A. C. S. R. Cables Alumina
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 209
APPENDIX 'G'—Contd.
7 6 5 3 4 2 1
747-33

531-65

20

15

416-33

Sewing machines .. .. 3 00 lacs p. a. Needles 3-00 lacs p. m. Manufacture of Metal Products Except Machinery & Transport equipment.

Steel Castings bars & rods .. 1,01,400 tons "

660-58

p. a. Wood Screws - .. .. 1 -2 million gross

p. a.

1,08,000 gross p. a.

60-81

Hacksafo blades

Railway point & Crossings 160 equated turn- outs (90 lbs.)

p. m.

200 equated turn- outs (50 lbs.)

p. m.

77,100 tons p. a.

2-93

Steel Structural

15,200 tons p. a.

Steel Wires

5,000 tons p. a.

Iron Pipes

12,000 tons p, a.

O. I. Pipes ( i' to 3')

Ball roller and tapered bearing

7-81

25,00,000 Nos, p. a.

High Frequency electrically welded Steel Tubes with dia-

metersi* to 6'

60,000 tons p, a. "1

568-13

High tensile li* to 6'

10,000 tons p. a. I

Wire cloth

3 96 lacs sq. ft. I

p. a.

Steel Wire ropes

3,000 tons p. a.

C. I. pipes

50,000 tons p. a.

315-39

9 386OS

Manufacture of Machinery

16

Carding Engines .. .. 900 p. a. Oil Engines .. .. 6,520 p. a. except Electrical Machinery

(ranging from 5 lo 40 H.P.) Hcalds 12,000 doz. set p. a. Reeds .. .. . .4,440 doz. pcs.p. a.

750 Nos. p. a.

36 Nos. p. a.

253 42

150 Nos.p. a. \ 120 Nos. p. a.

100 Nos. p. a.

Cone-Pulley lathes (Light and heavy duty) Light type geared head lathes High Speed Heavy duty geared head lathes Capstan and Turret lathes Steam and Diesel Road Rollers Other machines

75 Nos. p. a. J

Tea Machinery

Rs. 48 lacs worth

78-54

of products p.a.

10-90

Jute and Other Machinery Rs. 72 lacs worth of products p. a.

Milling plants

Rs. 35 lacs worth of products p. a.

Mill gear wheels

Rs. 20 lacs worth of products p. a.

Sugar Mill drives

Rs. 50 lacs worth of products p. a.

Industrial process Turbines Rs. 25 lacs worth of products p. a.

Centrifugals

Rs, 15 lacs worth of products p. a.

Air & Gas Compressors Rs. 10 lacs worth of products p. a.

Injection Moulding machinos 300 Nos. p. a.

Industrial machinery (Jaw crushers, oil expellers E.O.T. cranes sand mill slot Blast equipments. Elevators steel structures etc.)

5,000 tons p. a.

Moulds for plastic industry 1,000 moulds p. a.

Centrifuges.

Rs. 41 laci worth of

products p. a.
210 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
APPENDIX 'G'—Conid.
1 7 2 3 5 6 4
Chemical machinery

Rs. 50 lacs worth of products p.a.

Water purification plant Rs. 6 lacs worth of products p.a.

Rs> 6 lacs units

Twist Drills

p.m. 25,000 Nos. p.m. 15,000 Nos. p.m. 72.000 Nos. p.a.

Taps Carbide* tipped tools Rotor pumps Multicylinder high speed Sizing machines

40 Nos. p.a.

17

21

536-78

354-34

I 139-16

1,20,000 p.a. 12,000 p.a. 6,000 units p.a. Manufacture of Electrical Machinery Apparatus, Appliances and Supplies,

Motor Car Batteries Train Lighting Batteries Dry Charge Batteries

2,400 p.a.

Iron Clad Batteries

1

Microphorous Rubber separators .. .. Radios Transformers

'•5 million units p.a. 60,000 sets p.a. 3,88,000 K.V.A. p.a.

1,29,000 H. P. 449-00

Electrical Motors

Fractional M 3tors

1,20,000 No's'.

743•51

213-62

Fans (Carriage, ceiling and Table) 6,96,000 p.a. Aluminium Cables .. 5,000 tonei p.a. House Servico Meters .. 8,00,000 Metres

p.a.

3,080 tons p.a.12,05,606 metres

Electrolytic copper enamelled wire Paper insulated cables

p.a.

Rubber insulated cables

18 million core yards p.a.

1,500 tons p.a.

A.C.S.R. Aluminium conductors

800 miles p.a.

Power cables Light Thermoplastic insu- lated cables

18 million core yds.

2,400 tons p.a.

Wire drawing and stranding V.I.R. &P.V.C. wires and cables

30 million core yds. p.a.

600 Nos. p.a.

Flectric Hoist Blocks

Insulators

2,400 tons p.a.

Dynamos, regulators and

starter motors

25,000 Nos. each p.a.

18

70-00

Manufacture of Rail Road

3 84-83

Railway Singnalling Equip- ment

73'91 Equipment.

Rs. 60 lacs worth products p.a.

Railway goods wagons Coaching under-frames Brake Lining

2,000 p.a. 370 p.a. 3,12,000 R.H.P.M.

19 Manufacture of Motor Vehicles

372-88

8 137-75

1 288-19

Diesel Engines Villiers Engines Brog and Beck cultches

3,000 p.a. 9,600 p.a. 15,000 p.a.

I 140-50

Motor Cycles Three Wheeler Chassis Scooters

11,000 p.a. 1,800 p.a. 6,000 p.a.

1,00,000 p.a. 1.00,000 p.a. 7.500 pcs. p.a. 7,500 „ p.a. 10,000 „ p.a. 7,500 „ p.a. 10,000 „ p.a. 10,000 „ p.a. 30,000 „ p.a. 7,500 ,, p.a. 3,60,000 p.a. 2,34.000 p.a. 7,50,000 p.a. 10,000 p.a.

Magnetos Wheel Rims Wind Screen Wipers Distributors Condensors or Capacitors .. Regulators Breakers for distributors Breakers for Horns Breakers for Regulators Ignition Coils.. Tie-Rod ends King Bolts Spring Schackle & Bolts .. Mopeds (JO c.c. auto-cycles).
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11-, 1885 211
APPENDIX 'G' —Contd.
3 6 5 2 4 7 1
202-09

3

Manufacture of Cycles

20

21

8

Miscellaneous Manufacturing Industries.

49-17

2

Electric Light &. Power

22

45-00

7

Hotel Industry

23

36-68

4

Mining & Quarrying—Coal

24

6

—

Electricity Gas & Steam

25

1 7'00 Petroleum & Natural Gas

26

TOTAL

9834-54

284

APPENDIX 'H'

Bicycles

121-50

754-69

.. 3,50,000 units per annum and spare pnrts

53'05

—

43 00

—

45 510 K.W. 46'88

361-75

—

29-65

92-00

47-07 —

—

109-28

—

35000

—

46-58

—

16433-09

22380-31

Summary of the proceedings relating to some of the

proposals considered and the conclusions arrived at the

Ntnth Conference of representatives of the State Finan-

cial Corporations held at Calcutta on the ISth and \9th

February, 1963.

(i) Scheme for the guarantee of advances granted to

SFCs. The Conference endorsed the suggestion of the Development Commissioner, Small-Scale Industries that such of the State Governments which did not have ade- quate funds should arrange with their respective Corpo- rations to advance loans out of funds of the Corporations on liberalised terms of interest, margin etc. against State Government's guarantee and subsidy as in the case of Maharashtra. (v) Financing of Transport and Hotel Industries and small-scale Industries

Industrial Estates

The Government of India had decided that units en- gaged in mining, hotel industries, transport of passengers or goods by road or water and distribution of electricity or any other form of power should not be recognised as small-scale industries for the purposes of the Credit Guarantee Scheme. Regarding the recommendation of the sub-committee appointed by the Standing Committee of the Small Scale Industries Board that the definition of 'small scale industries' should be enlarged to cover units with capital assets ranging from Rs. 5 lakhs to Rs, 10 lakhs and that the facilities under the Credit Guarantee Scheme should be extended to them, the Government of India decided not to implement the recommendation in view of the National Emergency and administrative ad- justments that might be necessary to give effect to the suggestions.

(ii) Scheme of State Bank of India for the provision of

credit to small-scale industries

The Conference considered certain proposals made by the Reserve Bank and others in regard to the terms and conditions subject to which SFCs might finance the con- cerns engaged in transport and hotel industries and in- dustrial estates. The Conference felt that it was too early to lay down standardised procedures and uniform policies until some experience had been gained and practi- cal problems involved had been studied. In regard to financing transport units, it was decided that Shri B. Mukerji, Managing Director, State Bank of India, might consider the suggestions made in the Reserve Bank's note on the subject and the various other issues involved in the light of the experience gained by com- mercial banks in the field of financing of transport units specially on hire purchase basis and put forward his sug- gestions for consideration of the next Conference, if necessary after the issues had been considered by a Working Group under his leadership composed of repre- sentatives of the various types of financing institutions concerned. As regards financing of hotel industries and industrial estates, it was decided that the suggestions made in the Reserve Bank's note might be generally followed and, if necessary, the question could be considered at the next Conference in the light of the experience gained during the year.

(vi) Participation of SFCs with other financial institu-

tions

The Conference noted the review submitted by the State Bank of India regarding the progress made by the scheme for the provision of credit to smaH-scale indus- tries. As regards the difficulties faced by commercial banks in.providing the working capital requirements of industrial units arising from the practice of the State Financial Corporations of taking a floating charge on the liquid assets of the concerns also, it was explained that the Corporations did not normally take liquid assets as security and in cases where they did so, they would have no objection to release them, if the borrower so desired. The Conference also felt that there was no need to demarcate the functions of commercial banks and SFCs in the sphere of medium-term financing as in the context of increasing economic activity in the country, there was adequate scope for both the set of institutions to function.

(Hi) Extension of refinancing facilities offered by the

Refinance Corporation for Industry Ltd. to SFCs The Conference was apprised that for the present the Refinance Corporation for Industry Ltd. (RCI) had de- cided to give refinancing facilities to SFCs up to the extent of the total of their paid-up capital and reserves. The sug- gestion for relaxing the condition that loans granted to small-scale industries should be guaranteed under the Credit Guarantee scheme for being eligible for refinance facilities was not accepted.

After some discussion on the suggestions made in the Reserve Bank's note on the subject, the Conference de- cided that these suggestions made in examined by Shri K. P. Mathrani, Chairman, Industrial Finance Corpora- tion of India who might suggest ways and means of work- ing out participation arrangements between State Finan- cial Corporations on the one hand and the institutions like the I.F.C., I.C.I.C.I. and banks on the other, (vii) Advances to Tea Gardens

(iv) Utilisation of the agency of SFCs for routing

Government funds to small-scale industries

The Conference reviewed the progress made in the utilisation of the agency of the SFCs for routing Govern- ment concessional finance to small-scale industries. The Conference reiterated its earlier decision that as far as possible, duplication of functions between the State Governments and the SFCs should be avoided and that all loans within a specified range should be routed through The Conference noted that the proposal of the West Bengal Financial Corporation for granting loans to tea estates in participation with commercial banks by shar- ing the security mortgaged to it on a part passu basis had not evoked any favourable response from them. The representative of the Assam Financial Corporation stated that this Corporation had not experienced any difficulty in getting the title deeds of the loanee concerns released in its favour by commercial banks and added that the Corporation had financed some tea gardens in participa- tion with some of the commercial banks. The Con- ference expressed satisfaction at the efforts being made by the Tea Board in tackling the issues and bringing to- gether the various institutional agencies and observed that, so far as SFCs were concerned, they could guarantee loans raised by industrial concerns from Scheduled/State cS^p eAa t i vc ks u n d er t ho a m e nded provisions of the SFCs Act and retain the charge on the securities themselves.
212 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11,, 1885 [PART IV
(viii) Advances to Colliery Industries

dairy farms which were usually carried on as supple- mentary operations to agriculture. However, In cases where the loans were required for acquisition of machi- nery for processing the products of farms, there did not appear to be any objection for granting such loans.

(x) Exemption or reduction of stamp duty and registra-

tion charges payable by the loanee concerns

The Conference took note of the difficulties pointed out by the West Bengal Financial Corporation in financ- ing colliery concerns. After discussion of the various practical difficulties such as those arising out of sub-leases of mining rights, etc., the Conference decided that the issues raised could be pursued by the concerned Corpo- rations with the respective State Governments. In case they did not succeed in their efforts, a reference might be made to the Reserve Bank which would take up this question with the Ministry of Mines & Fuel, Government of India.

(ix) Financing of poultry & dairy farms^

The Conference was of the view that the SFCs were not the appropriate agency for financing poultry and The Conference noted that the Government of India had recommended to the State Government to give effect to the suggestion of the Small Scale Industries Board that the various charges like stamp duty and registration fees might be reduced by the State Governments to 50% of the normal rates in the case of mortgage deeds execut- ed by the small-scale industries in favour of SFCs.

APPENDIX 'V

Statement showing imderwrlttngs (Net) approved by the Industrial Finance Corporation cj India from the 24tli December, 1956

to the 30th June, 1963.

Location of

(Rs. in lacs)

Amou

factory

Names of the Managing Agents/ Managing Direc-

Name of the

i Company

SI. No.

Place nt of underwriting approved

Purpose for which

approved Pref. Pet?en Total shares tures

"Equity shares

State

tor/Chairman/ President of Board of Directors/Sec- retaries & Trea-

surers.

1

2

4

3

7

10 6

8

9

5

1

Rs.

Rs.

2-89

Rs. 2-89

Andhra Pradesh

M/s. Panyam Ce- ments & Mineral Industries Ltd.

M/s. Panyam In- dustrial Agencies (P) Ltd.

Cement Nagar Distt. Kurnool.

2

Ramgarh

In connection with the Company's expansion scheme envisaging an increase in the instal- led capacity of the factory for the manu- facture of Portland cement from 200 to 500 tons per day.

10 00

Bihar

M/s. Assam Silli- mariite Ltd.

The United Pro- vinces Commer- cial Corpn. Mg. Agents.

3

10-00 For putting up a re- fractory plant with a rated capacity of 29,000 tons per annum in the first stage and to add a further capa- city of 17,000 tons in the 2nd stage.

5-00

Bihar

M/s. Asian Re- fractories Ltd.

Mr. R. L. Ram- puria Chairman.

Mango, Distt: Hazaribagh

4

Ranchi

5 00 For setting up a fac- tory for the manufac- ture of high duty fire clay bricks and silica bricks with a capacity of 12,000 tons each

fper year.

5 00

BihHr

M/s. Bharat Ball Bearing Co. Ltd.

M/s. Associated Industries Corpn. Mg, Agents.

5

Naroda

5-00 For the installation of a factory near Ranchi (Bihar) for the manu- facture of Ball, Roller 'and Taper Bearings with an installed capa- city of 25,00,000 bearings per year.

7-00

Gujarat

M/s. Indequip Engg. Ltd.

Shri Jal H. Mehta Chairman.

6

7-00 To set up a factory for the manufacture of 500 humidiflcation plants per annum and continuous bleaching range solornatic type and essential spare parts of Butterworth machinery, like bush, bearing houses, frames etc.

Gujarat

M/s. Air Control Chemical Engi- neering Co, Ltd.

Devdi Distt. Ahmedabad

M/s. Hareshchan- dra Maganlal & Co. Pvt. Ltd. Mg. Agents, (Proposed

7

15-00

1500 For the setting up of a factory at Devdi near Barejadi in the Guja- rat State for the manufacture of air handling and refri- geration equipments.

10 00

Madras

M/s. Madras Ce- ments Ltd.

M/s. P.A.C. Ra- masamy Raja & Co. Mg. Agents.

Tulukkapatti Dt. Rama- nathapuram

1000 In connection with the Company's scheme envisaging increase in the installed capacity for the manufacture of cement from 200 tons per day to 550 tons per day.
PART IV] THE GAZETTE OF INDIA, NOVEMBER 1, 1963/KARTTKA 11, 1885 213
APPENDIX •!'—contd.
8 6 9 10 7 3 5 1 2 4 Rs.
Madras

8

Rs. 60 00

Rs. 60 00

Rs. 12000

M/s. Salcoe & Co. Mg. Agents.

M/s. Madras Alu- minium Co. Ltd.

Mettur Dam Distt. Salem.

In connection with the Company's scheme for setting up a plant for the manufacture of 10,000 metric tonnes of aluminium ingots per annum (7000 tonnes aluminium metal & 3000 tonnes alloys).

75-00 75-00

Bombay

9 M/s. Premier Automobiles Ltd,

Maha- i rashtra

M/s. Aero Auto Pvt. Ltd. Mana- ging Agents.

To enable the com- pany to complete its scheme of the phased manufacture of small car Fiat 1100.

37-50

37-50

10

M/s. Khandelwal Industries (P) Ltd.

Maha- rashtra

M/s. Khandelwal Ferro-alloys Ltd.

For setting up a Ferromanganese plant with a capacity of 30,00p tons p.a.

Village Sihora Distt, Nagpur

1500

1500

11 M/s. Khandelwal Udyog Ltd.

Ghotkopar Bombay-39.

Maha- rashtra

M/s. Khandelwal Industries Pvt. Ltd. (Mg. Agents)

To expand the in- stalled capacity of its plant from 3600 tons to 7200 tons of steel fabrications per annum and electric overhead travelling cranes and concrete mixers.

5 00

5 00

Mysore

12

M/s. Associated Planters Pvt, Ltd. Mg. Agents.

M/s. Chamundi Chemicals &, Fertilisers Ltd.

Munirabad Hospet Road.

In connection with the Company's scheme for establishing a super- phosphate factory with an annual capacity of 40,000 tons of super- phosphate.

50-00

30-00

Koraput

Orissa

13 M/s. Straw Pro- ducts Ltd.

M/s, J. K. Agents (Pvt.) Ltd. Bhopal Mg. Agents.

For setting up a new paper mill (including a pulp plant) with an installed capacity of 18,000 tons per annum of book paper, high prade writing & print- ing paper etc. from bamboo pulp.

10 00

1000

Bahadurgarh Punjab

14 M/s. Hindustan Twyfords Ltd.

M/s. Ram Prasad Murlidhar & Co. Secretaries & Treasurers.

For setting up a factory for the manu- facture of 5400 tons of sanitary ware and household ceramics.

3-50

3-50

15

Punjab

M/s. Usha Spin- ning & Weaving Mills Ltd.

Badarpur Village, near Faridabad.

For setting up of a cotton textile spinning mill at Badarpur with 12,000 spindles.

M/s. Ram Krishan Kulwant Raj In- dustries (Pvt.) Ltd. Secretaries & Treasurers.

3 00

5-00

Rajasthan

8 00

16

Kotah

M/s. Oriental Power Cables Ltd.

M/s. Somaiya, Bharaktya Pvt, Ltd. Managing Agents.

For setting up a factory at Kotah for the manufacture of paper insulated power cables with an installed capacity of 600 miles cables on 2 shift basis.

17

5 00

Kishangarh

5 00

M/s. AdityaMill Ltd.

Rajas- than

M/s. General Produce Co, Ltd, Mg. Agents.

For the installation of a spinning mill with an installed Capacity of 25,000 spindles.

2-50

2-50

18

U.P.

Clutterbuck- ganj.

M/s. Camphor & Allied Products Ltd.

M/s. Dalai & Jhaverl Pvt. Ltd. Mg. Agents.

To set up a plant at Cluttcrbuckganj, near Bareilly with an in- stalled capacity of 900 tons of synthetic camphor ^>er annum.

5 00

19

5 00

Saharanpur U.P.

M/s. Star Paper Mills Ltd.

M/s. Bajoria Co., Managing Agents,

For raising the pro- duction capacity for the manufacture of various types of paper from 600O/65OO tons to 21,000 tons per annum including 9000 tons of kraft paper.

20

5 00

5-00

U.P.

M/s. Kanoria Co. Ltd. Mg. Agents.

Pipri Dt. Mirzapur.

M/s. Kanoria Chemicals & In dustrics Ltd.

For setting u]J a plant at Pipn with an installed capacity for the manufacture of
2)4 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/tCARTlKA 11, 1885 [PART IV
APPENDIX 'V—contd.
7 8 9 3 4 5 6 2 1 10 Rs. Rs. Rs. RS.
21

20 00

20'00

West Bengal

M/s. General Tyres Ltd.

M/s. National Rubber Mfrs. Ltd. (Mg. ARents).

Kattadanga Road Kankinarrah Distt. 24, Parganas

22

Durgapur West Bengal

2-50

2'50

M/s. Indo-Amcri- can Electricals Ltd.

Managing Direc- tor (proposed) Shri Man Mohan Singh,

23

5 00

5-00

West Bengal

Uttarpara Calcutta

M/s. Shalimar Wire & Indus- tries Ltd.

M/s. S. N. Khai- tan J. L. Khaitan Directors fA Di- rector run con- cern)

electrolytic caustic soda to the extent of 16,500 tons p.a., chlorine gas 14,850 tons p.a. and dical- cium phosphate, fer- tiliser grade 13,200 tons p.a. For setting up a factory for the manu- facture of automobile tyres and tubes with an installed capacity of 1,80,000 tyres and 1,80,000 tubes per annum. For setting up a plant at Durgapur for the manufacture of super- enamelled copper wires with a capacity of 60 tons per month or 720 tons p.a. For setting up a factory for the manu- facture of 3,96,000 sq. ft. of four drinier wire cloth valued at about Rs. 20 lacs per annum on the basis of single shift working.

5-00

Delhi

5-00

Delhi

24

Shri B. M. Patel Shri I. Satei Mg. Directors.

M/s. Hindustan Kokoku Wire Ltd.

For putting up a plant near Delhi for the manufacture of high tensile steel wire with an installed capacity of 6000 tons per annum.

5-00

25

5 00

Goregaon Bombay

Maha- rashtra

M/s. United Mal- leable Co. Ltd.

Shri S. G. Soma- ni& Maharaj Ku- mar Prithviraj proposed whole- time Directors.

For the scheme of set- ting up a factory at Go- regaon near Bombay in the Maharashtra State for the manufac- ture of 5000 tons per annum of Malleable Iron Pipe Fittings,

5'00

5'00

26

Maha- rashtra

ShriR. O. Zatakia Mg. Director.

M/s. Globe Auto Electricals Ltd.

Mulund Greater Bombay

To set up a plant for the manufacture of dynomos, regulators and starter motors for automobiles.

10 00

27

1000

Shri K. C. Mahin- dra Chairman

Maha- rashtra

Kopali Distt: Kola- ba

M/s. Mahindra Uginc Steel Co. Ltd.

For the scheme of setting up a factory at Khopali, Maharashtra State for the manu- facture of 18,000 tons per annum of Alloy constructional steel, case hardening steel and nitridjng steel (excluding stainless steel) and 25,000 tons in terms of ingots.

Naharkatia Assam

168'00 168'00

28

Shri J. C. Finlay Mg. Director.

M/s. Oil India Ltd.

For financing a part of the Co.'s scheme of, (a) prospectiDg or oil and development of oil fields and \b) construc- tion of a pipe line over a total distance of 720 miles from the oil fields to Nunmati and on to Barauni.

1000

10-00

29

Maha- rashtra

Thana, near Bombay

M/s. Bombay Wire Ropes Ltd.

Shri Himat Lal Chhagan Lal Shah Mg. Direc- tor.

To set up a wire drawing and rope manufacturing plant of the capacity of 3000 tons per annum.

_

Goregaon Maha-

31 -00

31 00

30

rashtra

M/s. Nirlon Synthetic Fibres & Chemicals Ltd.

Shri Nanubhai Jhaveri & Shri Pramod Jhaveri, Mg. Directors.

Scheme of setting up a factory at Goregaon, Greater Bombay, Maharashtra State for the manufacture of 2 tonnes per day of monofilament and mul- tifllament 6 typo nylon yarn.
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 21$
APPENDIX 'I'—contd.
¹ 10 6 7 9 5 8 4 3 2 1
Rs.

Rs.

Rs.

Rs.

3-00

3 00

Mysore

31 vi/s. Mysore laments Ltd.

Village Ammasandra Distt. Tumkur

M/s, Sterling En- terprise Pvt. Ltd. Secretaries of Treasurers.

n connection Vith he Company's cxpan- ion scheme aimed at ncreasing its present nstallcd capacity from lac ton to 2 lac tons

32

33

34

35

36

37

38 4 00

39 40
216 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
APPENDIX 'Y—concld8 1 2 3 4 6 7 9 5 10 Rs. Rs. 41

Andhra

M/s. Hindustan

Village

Rs. 20-00

Rs. 2000

Pradesh

Polymers Ltd.

Gopalapat- nam

Shri Pratap Bhogi- Lal, Mg. Director and Shri R. K. Parikh, Jt. Mg. Director.

For the scheme of setting up a factory at Gopalapatnam Taluka, Andhra Pra- desh for undertaking the manufacture of Ethyl Alcohol 1.5 million gallons p.a. Styrene Mono- mer 10,000 tons p.a. and Polystyrene and its copolymers in- cluding high im- pact at 7,500 tons per annum.

M/s. Southwire Village

42

Madras

1000

10-00

M/s. Omega Insu- lated Cable Co. Ltd.

Agencies Private Ltd., Mg. Agents.

Thirumallai- vail, Dt. Chingleput

For the scheme of setting up a cable plant near Madras for undertaking the manufacture of VIR and PVC wires and cables with a capacity of 30 million core yards per annum in two shift working,

279 50

24300 765-89

243-39

APPENDIX "J'

Statement showing deferred payment guarantees (net) approved by the Industrial Finance Corporation

of India from the 21st December 1957 up to 30th June 1963.

( p- i, F-C",

Location of the Facto ry

Name of the Company

Purpose for which approved SL No.

Amount of deferred payment guarantee approved

Names of the Managing Agents/Managing Directors/Chairman/ President of the Board of Directors/Secretaries Place State

(net)

& Treasurers

6

7

4

2

5

3

1

Mysore

Mandya National Paper

1

Rs. 18200

Mills Ltd.

To set up a paper faftory with an installed capacity of 35 tons per day.

Belagula, Mandya Dist.

Bedl & Co. Manage- ment Ltd., Managing Agents.

26-95

Automobile Products of M/s. Technical Services

Maharashtra

2

Agra Road Bhandup.

India Ltd.

(P) Ltd.

To enable the Company to manufacture engines for Lambretta Scooters & Scootercttes.

236-00

Bihar

Darbhanga

Ashok Paper Mills Ltd.

3

Shri flanwari Lal Sharma (Managing Director).

For setting up a paper mill with an installed capacity of 15,000 tons of Paper p. a. at Darbhanga (Bihar).

215-88

Jaykay Nagar West Bengal

M/s. J. K. Industries

Aluminium Corporation

4

(Pvt.) Ltd.

of India Ltd.

To increase its capacity to manufacture the existing products-aluminium ingots from 2500 to 7500 ton p. a., alumina from 5000 tons to 15,000 tons p. a. as also for increasing the rolling capacity from 2500 tons to 4900 tons p. a.

West Bengal

32-32

Kharadah

Hindustan Heavy Chemi- M/s. Talukdar Law &

5

24, Parganas

cals Ltd.

Co., Ltd.

For increasing the capacity for the production of caustic soda from 6 tons to 12-5 tons per day and corresponding Increase in the installed capacity for chlorine from 5/5 J tons per day to 10-8/11-3 tons per day.

39-62

West Bengal

Kattadanga

M/s. National Rubber

General Tyres Ltd.

6

Mfrs. Ltd.

Road, Kanki Narrah, 24-Parganas

For the setting up of a factory for the manufacture of automobile tyros and tubes with an installed capacity of 1,80,000 tyres & 1,80,000 tubes per annum.

Rajasthan

4,5000

Sir Tndra Singh Kt.

Metal Corporation of

7

Zawar Dist. Udaipur.

India Ltd.

(Chairman) Shri A ,C. Dutta (Mg. Director)

For setting up on electro- lytic Zinc Smelter with a capacity of 18.000 tons of zinc metal at Debari (Udaipur) as also expansion of the mines and lead smelter at Tundoo.
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 217
APPENDIX 'y—contd.
7 6 5 4 3 1 2
93 00

Madras

Sahupuram

M/s. Sahu Bros (Sau-

Dharangadhra Chemical

8

rashtra) Ltd.

Works Ltd.

Arumuganeri Tinnevclly.

22-37

Gujerat

M/s, Shah Industries

9 Tensile Steel Ltd.

(P) Ltd.

Wishwamitra Rly. Station Baroda.

To enable the company to implement its scheme of expansion of the produc- tion of caustic soda from 30.000 to 50,000 tons p. a. at its Sahupuram factory. To enable the Company to set up a plant for the manu- facture of high tensile steel wires.

8-85

Punjab

Badarpur

Usha Spinning & Weav-

10

ing Mills Ltd.

village Near Fariaabad,

M/s. Ramkrishan Kulwant Rai Indus- tries (P) Ltd.

For financing the scheme of putting up at Badarpur a cotton textile spinning mil) with 12,000 spindles.

Pondicherry

5-62

Mahe

Cannanore Spinning &

11

M/s. Damodaran & Co., Managing Agents.

Weaving Mills Ltd.

To put up a new cotton textile Spinning mill at Mahe (Pondicherry State) with a complement of 20,000 spin- dles.

32-77

Madhya

A gar Road

M/s. Binod Mills Co.,

12

Pradesh

Ujjain.

Ltd.

Shri Lalchand B. Sethi & Shri B. K. Sethi Mg. Directors.

For installing a new cotton textile spinning mill with 19,360 spindles & 396 looms.

14913

Orissa

Chowdwar Dt.

Orissa Textile Mills Ltd.

13

Cuttack.

M/s. B. Patnaik & Co. (P) Ltd., Managing Agents,

For the scheme of setting up a new textile unit at Chowd- war with a complement of 21,800 spindles and 500 looms.

2-88

Delhi

Azadpur

Ajudhia Textile Mills

14

Ltd.

Shri C. K. Kejriwal, and Shri I. K. Kejri- wal, Directors.

9 17

U.P.

Etawah

Shri M. Samiuddin,

U.P. Co-operative Spg.,

15

I.A.S., President.

Mills Ltd.

For the expansion of the existing unit by the ins- tallation of 4,676 spindles raising the spindleage from 15,524 to 20,200 spindles. For the installation of a cotton textile spinning mill with a complement of 12,320 spindles.

Mysore

80-00

Dandeli

Shri Gobind Lal

West Coast Paper Mills

16

Bangur, Chairman.

Ltd.

Dt. N. Canara.

For the installation of a caustic soda and chlorine plant with an installed capa- city of 30 tons and 24 tons respectively per day in their existing paper mill.

52-96

Mysore

Davangere,

Davangerc Cotton Mills

17

Ltd.

Gadag, Distt. Dharwar.

M/s. R. Hanmnanth- appa & Son, Manag- ing Agents.

For the scheme consisting of (a) putting into working order the newly acquired old mill at Gadag with a comple- ment of 12,000 spindles, (b) transferring from Gadag and Commissioning at Davan- gerc the 218 looms that for- med part of the erstwhile mill at Gadag, (c) renovation and modernisation of certain sections of the existing mill at Davangere and (d) instal- lation of 500 automatic looms at Davangere under the export promotion scheme of the Govt. of India and to expand the bleaching and finishing sections thereat to cope with the increased pro- duction of cloth.

Maharashtra

5^27

Pulgaon

M/s. Hardayal Sons,

Pulgaon Cotton Mills

lfi

Managing Agents.

Ltd.

For the scheme of adding and replacing certain items of machinery for the pur- pose of improving the quality of yarn and cloth manufactured by the Com- pany, "

7 00

Punjab

Kharar

19 Panipat Woollen & General Mills Co. Ltd.

M/s, Indian Industries Co., Kharar, Manag- ing Agents.

For the schenie of setting up a cotton spinning mill con- sisting of 12,000 spindles at Kharar, near Chandi- garh (Punjab).

28-75

Andhra

Tanuku

M/s. Ranga Rao & Co.,

Andhra Sugars Ltd,

20

Managing Agents,

For the scheme of setting up a caustic soda/chlo- rine plant at ,Kowur with a production capacity of 30 tons of caustic soda per day.

1680-54
218 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA 11, 1885 [PART IV
INDIAN AIRLINES EMPLOYEES' PROVIDENT FUND REGULATIONS, 1955

The 9th October 1963

on the Notice Board of the Company pursuant to Section 11 of the said Act and Rule 11 of the Forward Contracts (Regulation) Rules, 1954.

Amendments

No. PFBI2/4247—In exercise of the powers con- ferred by Section 45 of the Air Corporations Act, 1953 (27 of 1953), Indian Airlines Corporation hereby makes, with the previous approval of the Central Government, the following amendments in the Indian Airlines Em- ployees' Provident Fund Regulations, 1955, namely :—

1. The following Regulation 16A shall be added after

Regulation 16 :

"16/f. Tn addition to the amount that may b" allow- ed under Regulation 16, interest shall be pay- able on such amount up to the end of the month preceding that in which payment is made, or up to the end of the sixth month after the month in which such amount became payable, whichever of these periods be less, at the rate prescribed for the preceding financial year.

Provided that no interest shall be paid in respect of any period after the date which the competent authority has intimated to that member (or his agent) as the date on which the competent authority is prepared to make payment in cash, or if he pays by cheque, after the date on which the cheque in that member's favour is put in the post."

2. In Regulation 20, Sub-Clause (iii) of Clause (1) shall be deleted and

sub-clause (iv) shall be renumbered as sub-clause (iii).

These amendments shall take effect from the date of

issue of the Notification in the Gazette of India.

D. R. KOHLI, Secretary, Indian Airlines Corporation.- I. In Bye-law 276(1) —

(a) In line 1, for the words "grades or varieties"

the word "variety" shall be substituted.

(b) Clause (b) shall be deleted.

II. In Bye-law 276(2)—In line 2, for the word

"varieties" the word "variety" shall be substituted.

III. Bye-law 276(3)—Shall be deleted.

IV. In Bye-law 278—For the outstatlon centres of "Bhuchu, Rampura Phul and Sirsa" the outstation centres "Malout, Abohar, Dhuri and Tarantaran" shall be substituted.

V. Bye-law 279(2)—Shall be deleted.

VI. In the schedule of outstation delivery centres for

Cottonseed Hedge Contract—

(a) In Group A—The word "Sirsa" shall be added

.after the word "Fazilka".

(b) Group B shall be substituted by the following:—

"Group B—-Kotkapura, Jaitu, Goniana, Bhuchu, Dabwali, Raman, Khanna, Jag- raon, Moga, Malerkptla and Ahmedgarh."

(c) Group C shall be substituted by the following:— "Group C—Rampura, Rampura Phul, Dhuri, Nabha, Patiala, Tarantaran and Amritsar."

ROSHAN LAL GUPTA, Secretary, The Punab Company Ltd., Bhatinda.

NOTIFICATION BY THE ADONI OILSEEDS AND

OIL EXCHANGE LIMITED, ADONI

CHANGE OF NAMES

The approval of the Secretary, Forward Markets Commission, under sub-section (1) of Section 11 of the Forward Contracts (Regulation) Act, 1952 (74 of 1952) read with Notification of the Government of India, Ministry of Commerce and Industry No. S.O. 1162, dated the 4th May 1960, has been obtained to the following amendment made to the Bye-laws of the Adoni Oilseeds and Oil Exchange Limited, Adoni, the same having been previously placed on the Notice Board of the Exchange pursuant to Section 11 of the said Act and Rule 11 of the Forward Contracts (Regulation) Rules, 1954."

"I, Khinu Ram s/o Shri Badri Dass, village & P.O. Gummar District Kangra have changed my name to Kama! Rakcsh."

I hereby declare for the information of General Public and the authorities concerned in particular that my true and correct surname is JARIWALA and I hereby discard the surname PATHAN by which I was hitherto known. So henceforward and for all time my correct surname shall be JARIWALA and my correct and full name will be as under.

AMENDMENT

In Bye-law 288, for the figure and words—

"(a) Months of delivery : There shall be 6 deli-

veries during the year as follows :—•

January, March, April, May, July and September."

the following figure and words shall be substituted,

namely :—

"(a) Months of delivery : There shall be 6 deli-

veries during the year as follows :—•

January, March, May, July, September' and

November."

T. RAMA MURTI, Secretary, The Adoni Oilseed* and Oil Exchange Limited.

Adoni, The 14r/i August 1963

(Old name) "MAJIDKHAN VAH1DKHAN

PATHAN."

(New name) "MAJIDKHAN VAHIDKHAN

JARIWALA."

"I, hitherto known as RAMPYARE, son of Shri DASH- RATH SAKOOL, employed as a Peon, ih Central Tele- graph Office, Bombay-1, residing at Abbas Manzil, Room No. 12, Ground Floor, Nadir Shah'Sukhia St., Bombay, have changed my name and shall hereafter be known as RAMPYARE DASHARATH SHUKLA."

"I, TATAYALU Fitter T. No. 11270, SERly. KGP (W/S) shall henceforth be known as MADUGULA VASUDEV RAO."

I hereby notify that undersigned has changed his sur- name from Waghmare Devidas Sadashiv to Kulkarni Devidas Sadashiv.

Sd/- D. S. WAGHMARE NOTIFICATION BY THE PUNJAB COMPANY LTD. MUNSH4 RAM BUILDING, KIKAR BAZAR, BHATINDA. Bhatinda, the 26th August 1963

The approval of the Secretary, Forward Markets Com- mission under sub-section (1) of Section 11 of the For- ward Contracts (Regulation) Act, 1952 (74 of 1952) read with Notification of the Government of India, Ministry of Commerce and Industry S.O. 1162 dated the 4th May 1960, has been obtained to the following amend- ments made to the Bye-laws of the Punjab Company Ltd., Bhatinda, the same having been previously placed I, Kesia, son of Shri Shankara, A.P.W.L, Gajner, have

changed my name to Keshoo Ram.

Consequent upon my marriage on 8-6-1963 my name is changed to as "Mrs. Malti Chandrakant Bhat" instead "Mibs Suman Vinayak Joshi".
PART IV] THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KARTIKA U, 1885 219
I, K. Karuppan, shall henceforth be known as

K. Mohan.

K. KARUPPAN

Coimbatorc-1, 14th May 1963.

Consequent on the marriage Kum. SUSH1LA NEWANDRAI BIJANI desires to be known and addressed as Smt. SAROJ MOHAN KESWANI.

KUM. S. N. BIJANI

I, K. C. SHANKARNARAYAN SETTY, working in Garrison Engineer's Office, JALAHALLI, BANGALORE- 14, have changed ray name to K. C. SHANKAR on my own desire.

Shri Ram Kanwar Sharma, an Assistant in the Prime Minister's Secretariat, changes his name to 'Ram Kumar Sharma'.

I, the undersigned, hereby declare that consequent on my marriage on 22-5-61 with Shri K. M. George, my name stands changed as Mrs. Aleyamma George, ray name before marriage being Miss. A, V. Aleyamma.

MISS A. V. ALEYAMMA

Shri KHALI DAM Patra Khalasi, T. No. 3669, Brass Foundry, C. Rly. Parel Workshop, Bombay-12, will in future be known by the name of Shri RAGHU- NATH LAKHAN SAHU for all purposes.

I, SWARAN LATA KUMAR alias SWARAN KANTA KUMAR, will henceafter be known and called as SWARAN KANTA KUMAR.

SWARAN KANTA KUMAR

I, Joginder Singh Kanth heretofore called and known by the name of Joginder Singh hereby give notice that by a deed poll dated 18-9-63 registered in Registry Office, Shahjahanpur on 20-9-63, I abandoned the name Joginder Singh and adopted the name of Joginder Singh Kanth.

JOGINDER SINGH KANTH

Be it known to all that John Camilo Alex. Dias son of John Xavier Dias working as Technical Supervisor in 512, Central EME Workshops, Kirkee will henceforth be known as John Carailo Alex Dias.

Shii Devadas Lazar, Basic Fitter, T. No. 109, Staff No. HML 1152, Southern Railway, Hubli, henceforth be known as "KALLU DEVADAS LAZAR".

Consequent on the marriage, Kum. REV ATI PURU- SHOTTAM GANDHI desires to be known and addressed as Smt. SUPRIYA SADANAND RODE.

I, hitherto known as HOLIYAPPA MADAR son of Shri BHARAMAPPA, employed as I.A.A.S. Probationer in I.A.A.S. Training School, Simla, residing at I.A.A.S. Training School Hostel, YARROWS, Simla-4, have changed my name and shall hereafter be known as HOLIYAPPA JALIHAL.

H. MADAR Sd. (in existing name)

I, hitherto known as B. R. BHEKARE son of Shri R. G. BHEKARE, employed as Mechanic Gr. I in India Meteorological Deptt. Workshop, Poona-5, residing at 630, Shukrewar Peth, Poona-2, have changed my name and shall hereafter be known as B. R, KADAM.

B. R. BHEKARE Sd. (in existing name) I, hitherto known as M. R. NAGARE son of Shri R. S. NAGARE, employed as Mechanic Gr. II in India Meteorological Deptt. Workshop, Poona-5, residing at F Block, R. No. 68, 3rd Floor, Police Nagar, Poona-5. have changed my name and shall hereafter be known as M. R. NAGARKAR.

M. R. NAGARE Sd, (in existing name)

I, hitherto known as MILKHI RAM son of Shri LABHU#RAM, employed as Lower Division Clerk in The Office of the Accountant General (Pb.), Simla, of Education III Section, 'A.G. (Pb.), Simla, have changed my name and shall hereafter be known as MAHESH KUMAR KOUNDAL.

MILKHI RAM Sd. (in existing name)

I, hitherto known as SAPPARAPU (SORNA) SAMUEL JOHN, son of Shri SORNA SAMUEL em- ployed as Tinsmith, T. No. 2401, in Southern Rly. Works, Hubli (Mech.), Foundry Shop, Mysore State, Dharwar Distt., have changed my name and shall here- after be known as SORNA SAMUEL JOHN.

SAPPARAPU SAMUEL Sd. (in existing name)

I, hitherto known as Uday Singh son of Shri Chiranji Lal employed as Packer T. No. 3238 in C.O.D., Agra, residing at House No. 2t15, Tiloo Maithan Rajput Gali, Agra, have changed my name and shall hereafter be known as UDAY VIR SINGH.

UDAY SINGH Dated 16-10-63 Sd. (in existing name)

My present name GOPAL ANANTRAO DOLE is to be changed as VYANKATESH ANANTRAO DOLE. Address'— C/o, A. K. DOLE Oppo. Pandurag Talkies BHUSAWAL.

Notified that I have changed my name from Jyotirmoy Halder to Jyotirmoy Mukherjee with permission of First Class Magistrate, Ranaghat.

Jyotirmoy Halder Rly. Station, Dhanbad (T. 4846-H)

The undersigned has changed her name from Miss Prabhat Bhargav Paranjpe, to Mrs. Vibhavari Vivek Deo on account of her marriage on 19-5-63.

Miss P B. PARANJPE

I, Bhagwati Singh, employee of Ordnance Factory, Katni have changed my name from RAMDEO SINGH s/o SHIVNANDAN SINGH to BHAGWATI SINGH s/o SHIVNANDAN SINGH vide a Deed Pool registered in the Office of the Sub-Registrar, Murwara.

I, Sri Ramadhar Mahata son of Sri Khedan Mahata henceforth be known, designated and addressed as Kamal Mahata of 60, Bondel Road, Calcutta as per Affidavit before Magistrate, 1st Class dated 12-2-1963.

I, Sri Dukhi Mahata, son of Sri Shyama Routh of 2, Dihi Serampore Road, Calcutta henceforth -be known, designated and addressed as Sri Chanu Routh as per Affidavit before Magistrate 1st Class, Alipore, Calcutta, dated 12th February 1963.

I, Shri Mohit Pashi, son of Late Garib Pashi, employed in the Tele : Workshops, Alipore, Calcutta, henceforth be known, designated and addressed as DHANESWAR PASHI.

I, Shri RAMBARAI MAHATO, son of Late RAM- CHANDRA MAHATO, an employee in the Telegraph Workshops, Alipore, Calcntta-27, henceforth be known, designated and addressed as "MAHESH MAHATO"
220 THE GAZETTE OF INDIA, NOVEMBER 2, 1963/KART1KA 11, 1885 [PART IV
I, hitherto known as RAJARAM Y. MANG son of Shn YESHWAN MANG, employed as Clerk, SANGLI H O, Post Office and Distt Sangh (Maharashtra), have changed my name and shall hereafter be known as RAJARAM YESHWANT "NAYAK"

RAJARAM Y MANG Sd (in existing name) this court in person or by a pleader duly instructed, and able to answer all material questions relating to the suit, or who shall be accompanied by some person able to answei all such questions on the 10th day of December, 1963 at 10 30 O'Clock m the forenoon, to answer the claim and as the day fixed for your appearance is appoint- ed for the final disposal of the suit, you must be prepared to produce on that day all the witnesses upon whose evidence and all the documents upon which you intend to rely in support of your defence.

Take, notice that, in default of your appearance on the day beforementioned, the suit will be heard and deter- mined m your absence

Given under my hand and the seal of this court, this

the 14th day of October, 1963

K.AMLA KANT CHOUDHURY Munsif, 1st Court,

NOTICE

DHANBAD

' Notice is hereby given in pursuance of Section 497 that a general meeting of the members of the above named company will be held at 35/61, Rohtak Road, Karol Bagh, New Delhi-5, on the 2nd December, 1963 at 11 O'clock in the forenoon for the purpose of havmg an account laid before them showing the manner in which the winding-up has been conducted and the property of (he company disposed of and of hearing any explanation that may be given by the liquidator and also of determin- ing by a special lesolution of the company, the manner in which the books, accounts and documents of the com- pany and of the liquidator shall be disposed of

GOBIND RAM SETHI Dated 21st October 1963 Signature of the Liquidator

FORM NO 151

{.See Rule 315) COMPANIES ACT, 1956 MEMBERS¹ VOLUNTARY WINDING UP

NOTICE OF APPOINTMENT OF LIQUIDATOR

PURSUANT TO SEC 516

Name of Company CITIES SERVICE OIL CO.

LTD (In Vol Liq )

FORM NO 151

THE COMPANIES ACT, 1956 MEMBERS' VOLUNTARY WINDING UP

NOTICE OF APPOINTMENT OF LIQUIDATOR

PURSUANT TO SECTION 516

Name of Company—Desamangalam Rubber Estates

Limited

Nature of business—Managing Rubber Estates Address of Registered Office—Anamallais House

Annexe, Tnchur-1

Name and address of Liquidator—Sri E J KuruviUa,

M BA (Columbia), Anamallais House, Tnchur-1

Date of appointment—7th October 1963

By whom appointed—By the Company in General

Meeting

Tnchur, 7th October 1961

E J KURUVILLA, M BA (Columbia) Liquidator

IN THE MATTER OF DESAMANGALAM RUBBER

ESTATES LIMITED

Nature of Business Import & Distribution of Petro-

leum Products

Address of Registered Office Baghichi Allauddin,

Pahargunj Delhi

Name & Address of Liquidator Anandi Lal Sikana,

Joint Liquidator, D/48 Bam Park, Jaipur (Rajasthan).

Date of appointment . 11th October 1963

By whom appointed Shareholders of the Company at

a General Meeting held on 11th October 1963.

Dated 16th Oct. 1963

It is hereby notified that by a Special Resolution of the Company passed on 7th October 1963, the "Desaman- galam Rubber Estates Limited", Anamallais House Annexe, Tnchur, has been resolved to the wound up voluntarily by a Members' Voluntary Winding Up

Tnchur, 7th October 1963

E J KURUVILLA, M.B A (Columbia) Managing Director Foi Desamangalam Rubber Estates Limited.

CORRIGENDUM

ANANDILAL SIKARIA Joint Voluntary Liquidator

SUMMONS FOR SETTLEMENT OF ISSUES

{Oredr V, Rules 1 and 5, Code of Civil Procedure)

District Dhanbad

In the Punjab Company Ltd., Bhatinda's Notification legarding amendments to Bye-laws published in the Gazette of India dated the 31st August, 1963 in Part IV at page 123,

IN THE COURT Ot THE MUNS1F, 1ST COURT,

I In the first column the words 'DELIVERY ORDER' be read in place of the words 'DELI- VERY ORDERS"

DHANBAD

Title Suit No 26 of 1963

Madhavji—Plaintiff

II In line 9 from bottom the word 'dated' be read

HI place of the word 'date'.

Versus

M/s R B Hanram & Sons and others—Defendants

To

1 M/s R B Hanram & Sons, a firm carrying on business ol coal and coke lesiding at 3474, Nicholson Road, Delhi-6

2 Kundanlal Vedi son of late R B Hanram residing

at 3474, Nicholson Road, Delhi-6

3 Snmati Kamla Rani wife of late R B. Ham am Til In the 2nd column, in Une 10 from the top the woids 'Signature of the seller' be read in place of the words 'Signature of the buyer'.

IV In the 2nd column the words 'DEMAND NOTICE FORM' be read in place of the words 'DEMAND NOTICE FORMS'

PRINTED IN INDIA BY TUB MANAGER, 0OVE1NMBNT OF INDU PRESS. FARIDABAD AND PUBLISHED BY THE MANAGER OF PUBLICATIONS, DELHI, 1 9 6 3.

like working 2-13 capital etc. 164-33 ! 59. The State-wise and industry-wise distribution of co-operative units financed by the Corporation is shown in the followine table : TABLE 16 (Rs. in lacs) aggregated Rs. 6,00,48,100 out of which allotment to the extent of Rs. 6,00,33,100 was made after rejecting one application for Rs. 15,000. The aggregate amount of outstanding bonds at the end of the year was Rs, 28,24,48,200. The management of the bonds which, hitherto, was entrusted to the Reserve Bank of India was taken over by the Corporation with effect from the 1st January 1963. So. of units ] sanctions Sugar Cotton Spinning 5 1 , . . 1 .— 62. Borrowings from the Reserve Bank of India— Borrowings from the Reserve Bank were, as in the past sparingly availed of during the year under review. The rate of interest charged by the Reserve Bank of India on these borrowings has been raised from 4 per cent per annum to 4i per cent per annum with effect from the 3rd January 1963. Andhra Pradesh. Assam Bihar Gujarat . Kerala . Madras Maharashtra Mysore Orissa Punjab Uttar Pradesh . 3 2 6 20 3 1 5 4 435-00 60 00 24-70 142-50 18000 453-00 1447-00 205-25 8500 331-00 322-17 3685-62 63. Borrowings from the Central Government—As on the 30th June 1962, the outstanding loans from the Cen- tral Government stood at Rs. 19.75 crores. During the year under review, a further sum of Rs. 5 crores was drawn, the balance outstanding at the end of the year being Rs. 24.75 crores. In view of the increase in the bank rate and hardening of interest rates in the money market, the Central Government have increased the rate of interest from 4} per cent per annum to 5 per cent per annum on all future borrowings from them including the amount of Rs. 5 crores borrowed during the year. 60. The net financial assistance approved by the Cor- poration up to the 30th June 1963 for industrial co- operatives represents about 22 per cent of the total net financial assistance approved by it and is indicative of the high* priority accorded by the Corporation to this sector of the country's economy. Resources 64. Borrowing in Foreign currencies—As mentioned in the last Annual Report two loans of U.S. $ 10 million and 20 million have been sanctioned to the Cor- poration by the Agency for International Development (AID) of the United States of America. Out of these AID loans the Corporation had approved up to the 30th June 1963 effective sub-loans aggregating U.S.A. $ 14.85 million. 65. The Corporation was sanctioned during the year a second line of credit to the extent of DM 25 million by Kreditanstalt Fur Wiedcraufbau (German Bank for Reconstruction), in addition to the first loan of DM 15 million mentioned in the last Annual Report. In 61. Bonds—A public issue of bonds was made in September 1962 with the concurrence of the Central Government. The issue was for Rs. 6 crores and the maturity period was 12 years. The rate of interest offered and the issue price fixed this time were 4i per cent and Rs. 99.50 per cent respectively. The issue was open for public subscription from the 28th Sep- tember 1962 to the 5th October 1962 and was closed on the 4th October 1962 when the total subscription exceeded Rs. 6 crores. The total subscription received ↩

TOTAL OF A, B, C &D ↩

!, scheme aimed at further diversifying its acti- ties with a view to increasing the pro- duction of cold rolled strips and coils, such as auto-radiator strips and other thinner gauge materials for gaskets and press buttons etc. 50-00 For implementing the scheme of develop- ment of the Company's collieries aimed at almost doubling the production capacity of the Company from 6-7 lac tons to 13-75 lac tons including sandstowing arrangement. 90 00 For financing the Society's scheme of setting up a sugar factory with a crush- ing capacity of 1,000 tons of sugarcane per day. 5 00 18-69 11-31 — — (in U.S. Dollars) For financing the scheme of setting up a factory with an installed capacity for the manufacture of 5,000 tons p.a. of malleable iron pipe fittings. 3 00 5 00 (in D.M.) For financing the Company's scheme of setting up a factory for the manufacture of glasshned equipments which is used in chemicals, pharmaceutical, petro- chemicals, and other processing indus- tries, specially where resistance to cor- rosion by strong acids and alkalies is required. 5-00 — 15'OD — —• — •—• For financing the Company's scheme for the manufacture of dynamos, regulators and starter motors for automobiles. 98 00 (Addl.) For setting up a new textile mill consisting of 25,000 spindles and 500 automatic looms under the Government of India's scheme for export promotion of cotton textiles. — — — — 1500 (Addl.) For implementing the Society's scheme for the expansion of crushing capacity from 1,000 tons to 1,250 tons of sugar- cane per day. 20-00 (Addl.) For implementing the Company's scheme of setting up a sugar factory with a crushing capacity of 2,000 ton* of sugarcane per day. 63-00 (Addl.) 20 00 (in D.M.) 5-00 (in Yen) For financing the Company's scheme aimed at (a) increasing the production capacity of steel castings from 7,200 tonnes to 12,000 tonnes per annum and (b) manufacture of industrial machinery, such as jaw crushers, oil expcllcrs, E.O.T. cranes, sand mills, shot blast equipment, elevators, steel structures, etc. with a capacity of 5,000 tons per annum at its factory at KurJa. 15000 For implementing the Company's scheme of setting up a factory for the manufac- ture of 18,000 tons per annum of alloy constructional steel and case hardening steel (excluding stainless steel). 90'00 For financing the Society's scheme of setting up a sugar tactory with a crush- ing capacity of 1,000 tons of sugarcane per day. For financing a part of the Company's scheme of (a) prospecting for oil and development of oil fields and (i>) cons- truction of a pipe line over a total dis- tance of 720 miles from the oil fields to Nunmati (Assam State) and on to Barauni (Bihar State). ↩

' ↩

— ↩

of cement per annurii. 15-00 Madras 5-00 Village Porur Distt, Chingleput M/s. W.S.Indus- tries, Managing Agents. M/s. W. S. Jnsu- ators of (India) Ltd. n connection with; the Company's scheme of- etting up a factors* for he manufacture of I.T. & L.T. Insulators ncluding manufacture of other kinds of in- sulators viz. lightning irresters transformer lushing, condenser Nishing and ceramic condensers with a capa- city of 2400 tons p.a. 4-50 0-50 5 00 Andhra Pradesh Lingampalli Hyderabad Vt/s. Hoisting Equipment Co. Ltd. Any one or both of Shri B. V. Tal- war and J. M. de Bcaucorps pro- posed Mg. Direc- tors) in connection with the Company's scheme of setting up a factory for the manufacture of 600 Nos. per annum of electric Hoist blocks of J00 to 5,000 Kgs. of lifting capacity. 5 00 Madras 10 00 15-00 Shri M.A. Chidambaram, Chairman. t tj M/s. South India Steel & Sugars Ltd. Village Mundi- yambakkam Distt. S. Arcot. In connection with the Company's scheme of setting up a sugar factory with a crush- ing capacity of 1000 tons of sugarcane per day. 5.00 5 00 Calcutta West Bengal M/s. Engcl India Machine Tools Shri Ranadeb Cliaudhuri (Chairman). For setting up a" factory for the manu- facture of injection moulding machines and moulds required by the plastic in- dustry with an initial installed capacity of 300 machines and 1000 moulds. 5 00 5 00 Jabalpur Madhya Pradesh M/s. Leiner-Knit Gelatine Co. Ltd. M/s. Sondhi Saran & Co. (Proposed Mg. Agents.) For setting up a factory at Bheraghat. near Jabalpur (M.P.), for the manufacture of gelatine and by- products, bone ferti- liser, bone glue, bone flour etc. 3 00 7 00 10 00 Calcutta West Bengal Shri R. N. Kapur Chairman. M/s. Ritz Conti- nental Hotels Ltd. Scheme of setting up a modern first class Western style hotel at 12, Chowringhee, Calcutta with 160 rooms. 5 00 Maharashtra 5-00 Bombay M/s. Shamsher Sterling Cable Corpn. Ltd. Major General Shanta Shamsher Jung Bahadur Rana Mg. Director. To expand their" plant for manufacturing 36 million yards Rubber insulated and ther- moplastic cables per annum. 6 00 10 00 Madras M/f.. Sakhti Pipes Ltd. M/s. Sakhti Enterprises, Mg. Agents. Evaloor ViUage Chingleput Distt. In connection with the Company's, scheme of setting up a factory for the manufacture of 50,000 tons of cast iron spun pipes and specials per annum on two shift basis. 5-00 Kharar 5-00 Punjab M/s. Indian Industries Co. (Mg. Agents) M/s. Panipat Woollen & Gene- ral Mills Co. Ltd. For financing the in- stallation of a. cotton textile spinning mill near Chandigarh with 12,000 spindles. ↩

m line 21, the words 'Signature of the seller' be read instead of the words 'Signature of the buyer' and in line 26, the words 'Signa- ture of seller' be read instead of the words 'Signature of the seller' residing at 3474, Nicholson Road, Delhi-6 ROSHAN LAL GUPTA Secretary The Punjab Company Ltd, 4 Sardar Gurbachan Singh, by occupation coal busi- ness, lesiding at 3474, Nicholson Road, Delhi-6 Whereas Madhavji has instituted a suit against you for restoration of possession aftei* evicting you from the suit premises You are hereby summoned to appear in BHATINDA ↩