REGISTERED NO. D—(D)—73
The Gazette of India PUBLISHED BY AUTHORITY
No. 50] NEW DELHI, SATURDAY, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) (Separate paging to given to this Part in order that it may be filed as a separate compilation)
[PART III—SECTION 4]
[Miscellaneous Notifications including Notifications, Orders, Advertisements and Notices issued by Statutory Bodies]
(3337)
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3 3 70
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3 3 783 3 70
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3390 3391 3392 33938—369 GI/81
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3 4 10
341 1
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3418 3419 3420 3421 3422 3423 3424 342512—369 GI/81
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14—369GI/81
3442 3443 3444 3445 3446 3447 3448STATE BANK OF INDIA
DELHI REGIONAL OFFICE
3 44 9
13. Shri H. D. Kohli, Officei in Middle Management Grade (Scale II) assumed complete charge of Manager (PBD)'s duties at Delhi University Branch on 18-9-81,
REGION II
New Delhi, the 1st December 1981
No. R-Il/Staff/6107 .— 1. Shri I. J. Sehgal, Officer in Junior Management Grade nssumed complete charge of Accountant's duties on 12-6-81 at Jahangirpuri Branch.
2. Shri P. N. Go">ain, Officer in Junior Management Grade assumed complete charge of Branch Manager's duties on 3-7-81 ut Laxmi Nagar Branch.
3. Shri Santosh Kumar, Officer in Junior Management Grade assumed complete charge of Head Cashier' duties at Ffttehpuri Branch on 6th July 1981.
Ji 4. Shri K. N. Juneja, Officer in Middle Management Grade (Scale III assumed complete charge of Branch Manager's duties at Kamla Nagar Branch on 24-7-81.
5. Shri S. K. Behal, Officei in Junior Management Grade
at Wazirpur Branch.
6. Shri P. K. Goel, Officer in Junior Management Giade assumed complete charge of Accountant's duties on 9th July 1981 at Kishanganj Branch.
7. Shri V. K. Sehgal, Officer in Junior Management Grade assumed complete charge of Head Cashier's duties at Narela Branch on 29-6-81.
8. Shri B. M. Kuchhal, Officer in Junior Management Grade assumed complete charge of Branch Managers duties nt Narela on 29-6-81.
9. Shri H, L, Chawla, Officer in Junior Management Grade nssumed complete charge of Branch Manager's duties at OKI Sectt. Branch on 25-7-81.
10. Shri H. R. Ojha, Officer in Junior Management Grade assumed complete charge of Branch Manager's duties at Seemfipuri Branch on 23-7-81.
11. Shii V. N. Pushp, Officer in Middle Management Grade (Scale II) assumed complete charge of -Branch Manager's duties at Sonepat Blanch on 21-9-81.
12. Shri H. R. Aggarwal, Officer in Junior Management Grade assumed complete charge of Accountant's duties al Hou7 Qnri Branch as on 29-15.-80
15—369GI/81
14. Shri K. C. Bhatla, Officer in Junior Management Giatle assumed complete charge of Field Officer's duties at Kamla Nagar Bianch on 23rd July 1981.
15. Shri R. K. Sharma, Officer in Junior Management Grade assumed complete charge of Bhatgaon Branch as Branch Manager on 12-10-81,
16. Shri M. L. Bajaj, Officer in Junior Management Grade assumed complete charge of Accountant's duties at G.T. Karnal Road on 5th October 1981.
17. Shri D. D. Katyal, Officer in Junior Management Grade assumed complete charge of Brunch Manager's duties as on 29-9-81 at Kharkhoda Branch.
18. Shri M. R. Gupta, Officer in Junior Management Grade assumed complete charge of Head Cashier's duties at Kharkhoda Branch on 29-9-81.
19. Shri S, S. Chadha, Officer in Junior Management Grade assumed complete charge of Branch Manager's duties at Roshanara Road branch as on 14-10-81.
20. Shri J. S. Chadha, Officer in Junior Management Grade assumed complete charge of Accountant's duties on 2-6-81 at Kamla Nagar Branch
21. Shri K. M. Tomar, Officer in Junior Management Grade assumed complete charge of Branch Manager's duties at Karwal Nagar Branch on 26-10-81.
22. Shri V, K, Sharma, Officer in Junior Management Giade assumed complete charge of Head Cashier'j, duties at Karwal Nagar Branch on 26-1(1-81.
23. Shri V. K. Khanna, Officer in Tunior Management Grade assumed complete charge of Accountant's duties at Clock Tower Branch on 25-9-81,
24. Shri J. L. Khurana, Officer in Junior Management Grade assumed complete charge of Accountant's duties at Roshfinaru Road Branch on- 12-8-81.
25. Shri M. P. Sharma, Officer in lunior Management Ciadc assumed complete charRe of Managei ( P )\ duties .it Asaf Ali Road Branch on 10-8-81,
26. Shri S (C. Bhasin. Officer in Junior Management Grade assumed complete charge of Manager (P)'s duties al Pahar^a nj Brunch on 9-11-81.
fSd.) ILLEGIBLE Regional Manager
3450 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4NOTICE
New Delhi, the 1st December 1981
I Shi i II C Kumai OJIicei in Juniui M in ij.emcnt Gi.uk assumed charge ns Branch Mumgei ol Inclcr I ok Bnnili on 7-3-81
I Shi i M K Mttlhotra, Ottieci in Junior Management Grade assumed charge as Branch Manager of Seclampvn Branch on 19 2 81
3 Shn Atam Parkash Tuli, Officer in Jumoi Management Grade assumed complete chaigc of Accountant's duties at Azadpur Bianch on 20 3 81
4 Shn Sada Nand Officer in Jumoi Management Grade
assumed complete charge as Managei (V) of Model To^n Delhi Branch on 27th Febraaiy 1981
5 Shn S K Iain Officer in rumor Management Grade assumed complete charge as Branch Manager Bndh Branch as at the close ot Business on Sih March 1981
6 Shn A K Thanjce, Officer in Jumoi Management Grade assumed complete charge as Branch Managei of Vijay Nagai Bi.inch TS at (he close of business on 6th April 1981
7 Shu Rum Dutt Officer in Junioi Management Grade assumed complete as Branch Manager of Sameipui Bi inch on 26th December 1980
8 Shn D S Ahujn Offlcei in lun'or Management Grid" assumed complete charge as Branch Managei of Sfimaipui Branch on ?6th Dccembei 1980
9 Shn S S Khnnna Officei m Junior Management Grade assumed complete chaigi as Accountant of Krishna Nagm Branch as it the close of business on 23id March 1981
10 Shn S C S Rohilla, Officer in Jumoi Management Grade assumed complete charge as Branch Manngei ofl Krishna Naeai Delhi on 17 3-82
II Shri A K Agarwaia Officei in Junior Management Giadc assumed complete charge as Branch Manager of Paharganj Binnch is at the close of business on 10th Apul 1"81
17 Shri K L Taneja, Officer m Junior Management Grade assumed complete charge of Accountant's duties on Rth May 1981 at R P Bach Delhi Branch
18 Shn S K Nagr il OtWi m lunioi Management Giade assunud complete chaigc of Bianch Managei s duties tit Kishnn^anj Bianch as at the close of business on 16th \pnl 1981
Iy Shn I N Gupta, Oflicei in Junioi Management Giadc assumed complete charge of Accountant's duties at Clock Tower Bianch on HlIi Apnl 1981
20 Shn L N Gulati, Officer in Junior Management Grade assumed complete charge of Branch Manager's duties on 6th Mav 19H1 at Jahangipuri Branch
21 Shn J P Sharma, Oflicei in lumor Management Grade assumed complete chaige is Branch Manftgci of Gandhi Nagai Branch on 21-1 81
22 Shri S P Sehgal Officer m Middle Management Grade (Scale III) Assumed complete charge of Tis Hazarl Branch as Branch Managei .is nt the close of business on If- 1 1981
23 Shn B R Ch iwla, Officer in Junior Management Glade assumed complete charge as Cash Accountant at Tis Hfuari Branch on 11 3-81
24 Shn B R Sharma Officer m Timor Management Giadc assumed complete chaigc of Khcia Khind Branch on Mil Apnl 1981
2^ Shn R K Malhotn Officer in Tunioi Management Giade assumed complete chaise as Branch Mjnager ol Seelampm Bianch a<, on 10 3-H1
26 Shn R P Malhoha Offieei in lunfoi Management Giadc assumed complete ch tree of Raipur Road Branch as Branch Manager on 29-^-Sl
27 Shri S K Chopr i Officer in Tunior Management Grade assumed complete rharge of Aznd Maiket Branch as Bianch Managei on 5 f 81
28 Shri B l\f Mehdiratta Officer m Junioi Management Giade assumed complete charco of Clock. Tower Branch as it the r1or of businf oi 29 ^ 81
(CHARTERED Accotwrs)
INDUSTRIAL FINANCE CORPORATION OF INDIA
33RD ANNUAL REPORT 1980-81
NOTICE
Notice is hereby given that the THTRTY-THIRD ANNUAL GENERAL MEETING of+he shareholders of the INDUSTRIAL FINANCE CORPORATION OF INDIA will be held on Wednesday, the 30th Septem- ber, 1981, at 4 00 PM (Slavdard Time) at Hotel Imperial, Janpath, New Delhi-110 001 to transact the follow- ing business
0) To read and consider the Balance Sheet of the Corporation and the Profit and Loss Account for the year ended the tOth June 1981. together with the Report bv the Board on the working of the Corporation for the year and the Auditors' Report on the said Balance Sheet and Accounts
(2) To elect one Director each in place of-—
0) Shn P.C.D. Nambtar,
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3451(ii) Shri S. Hariharan, and
(iii) Shri J. U. Patel,
being Directors elected to represent shareholders referred to in clauses (c), (d) and (e) of sub-section (1) of Section 10 of the Industrial Finance Corporation Act, 1948, respectively, who retire, but are eligible for re-eleclion under third proviso to sub-section (2) of Section 11 of the 1FC Act.
(3) To elect under Section 34 of the Industrial Finance Corporation Act, 1948, one Auditor duly qualified to act as Auditor of Companies under sub-section (1) of 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 cooperative banks, in place of Messrs Ray & Ray, Chartered Accountants, Calcutta, who retire, but are eligible for re-election.
17th July, 1981
D. N. DAVAR General Manager
CHAIRMAN
B. B. SINGH
DIRECTORS R.K. KAUL S. L. KAPUR Nominated by the Central Government
S. A. DAVE
J. C. SANDESARA
S. K. DATTA K. P. TRIPATHI Nominated by Industrial Development Bank of India
P. C. D. NAMBIAR O. P. GUPTA Elected for represent Scheduled Banks
G. V. KAPADIA S. HARJHARAN Elected to represent Insurance concerns. Investment Trusts and like financial institutions
J. U. PATEL N. S. SAPKAL Elected to represent Co-operative Banks
GENERAL MANAGER
D. N. DAVAR
BANKERS Reserve Bank of India
AUDITORS B. L. Ajmera and Co.
Chartered Accountants
Ray and Ray
Chartered Accountants
HEAD OFFICE Bank of Baroda Building,
16-Sansad Marg,
New Belhi-110 001,
3452 THE GAZETTE OF INDIA. DECEMBER 12, 1981 (ACRAHAYANA 21, 1903) [PART III—SEC. 4ADVISORY COMMITTEES
CHEMICAL PROCESS & TEXTILES HOTELS ALLIED INDUSTRIES B. B. Singh, Chairman B. B. Singh, Chairman B. B. Singh, Chairman J. U. Patel J. U. Pate! O. P. Gupta O. P. Gupta J. C. Sandesara G. V. Kapadia G. V. Kapadm N. S. Sapkal K. P. Tripathi K. P. Tripathi M. D. Joshi K. K. Snvastava S. K. Datta M. S. Pradhan S. K. Misra S. S. Sachdeva H. Ramakrishna Rao R. N. Renjen D. G. Rao H. S. Ranka C. L. Sharma S. L. Kapur H. P. Bhattacharya S. N. Chib N. V. C. Rao A. K. Bhansali K. G. Appusamy A. K. Bose P. C. Mehta A. K. Dave D. K. Roy S. S. Chhaparia J. Krishnaswamy J. P. Kapur K. C. Sharma ENGINEERING SUGAR JUTE B. B. Singh, Chairman B. B. Singh, Chairman B. B. Singh, Chairman J. U. Patcl J. C Sandesara J. C. Sandesara J. C. Sandesara N. S. Sapkal S. K. Datta S- K. Datta K. P. Tripathi S. P. Mallick K. P. Tripathi C. N. Raghavan A. K. Mukherjee Hari Bhushan N. R. Banerji S. Krishnamoorthi K- N. Ramaswamy M. D. Joshi K. Margabanthu S. R. Tata N. A. Ramaiah C. T. Das K. V. Sardcsai K. J. S. Bhatia D. Gupta P. Sen J. P. Mukherji G. Sivaraman M, L. Jain A. L. N. Moorthy S. K. Bhattacharya B. Ramachandra D. K. Patcl S. Sarkar Chandra Mohan Kishan Singh S. M. Patil B. N. Khosla
1FCI—A PORTRAIT
•Industrial Finance Corporation of India (fFCI) is the first Development Bank established in the country soon after independence by an Act of Parliament on the 1st July, 1948, with the object of pro- viding meduim and long term credits to eligible industrial concerns in the country.
• Fifty per cent share capital of [FCJ is held by the Industrial Development Bank of India (1DBI) and the rest by nationalised and scheduled banks, co-operative banks, insurance concern!) and a investment trusts, etc. The general superintendence and direction of the affairs and business of JFCf vests in a Board of Directors consisting of a whole-time Chairman appointed by the Central Government after consultation with IDBI and 12 other directors, of whom, 6 are elected by share- holders other than IDBI, 2 are nominated by the Central Government and 4 are appointed by IDBI.
•IFCl provides direct financial assistance in the form of rupee and foreign currency loans, under- writing and/or direct subscription to shares/debentures as also guarantees for deferred payments and foreign loans to all eligible meduim and large-sized industrial projects set up or proposed to be set up in Lhe country in the corporate and/or co-operative sector.
• Financial assistance from IFCl is available for the setting-up of new industrial projects as also for the expansion, diversification, renovation or modernisation of existing ones.
•Through its Benevolent Reserve Fund (BRF*) and allocations out of Interest Differential Funds (IDFS) received by it from the Central Government and its specially devised promotional schemes, IFCl helps in the development .and growth to small scale and ancillary units. It also provides much- needed guidance to small and medium scale new entrepreneurs through the specialised agencies like Technical Consultancy Organisation (TCOs), etc., set up for the purpose.
•IFCl lias het up the Risk Capital Foundation (R.CF) at New Delhi to help now entrepreneurs in raising the promoters' equity. The Management Developmet Institute (MDIJ and the Development Banking Centre (DBC), sponsored by IFCl, provide training in modern management techniques and thereby help in the development of entrepreneurship and managerial skills in different sectors of industry.
PART HI—SEC. 4] THE GAZETTE OF INDTA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 34&Summary of Operations
(Rs Crores)
1979-80
Amount
1980-81 Sanctions
Sanctions
Amount
No Amount
No
1948-81 Amount sanc- tioned
Amount dis- bursed
Nature ol
dis- bursed
Amount dis- bursed
Assistance
Total out- (andmg as on the 30th June, 1981
Loans
Rupee 188 125 29 82 78 200 176 36 105 63 990 53 708 77 500 54 Foreign curreny@ 28 21 78 9 56 31 17 57 19 28 152 99 122 22 47 47 Total 216 147 07 92 34 231 193 93 124 91 1141 52 830 S9 J48 01
Underwriting
56
61 63
7 38 1 73
13 67 1 37
2
20 81 8 23 8 99
17 22 4 60 0 78
3 00
JO 66 15 63
Equity shares Preference shares Debentures
37 1 2
0 10 1 12
0 06 0 07
38 03 22 60
58
1 73
16 67 1 50 87 92
40
Total
8 60
Direct Subscriptions
Equity shares
11 0 58
0 43
6 13 4 88 10 85£
0 47
5
0 49
0 83£ 0 24 1 0 04 0 04
1 0 15 0 15
0 32 2 03
0 32 2 03 Preference shares Debentures
U 92
6
0 51
8 48
12
Total
0 62
0 58 0 64
7 23
Gurantees
0 34 1
1
0 14
0 70
-
-
For deferred payments hor foreign loans
28 76 23 53
29 52 23 61
1
0 'U 1
Total
0 14
0 70
53 H 52 29
—
—
Grand Total
269* 156 43 94 58 296** 211 88
928 54
127 05 1293 05
582 87*
@AI1 foreign currency figures have been converted at T T selling rates ot exchange as on the 30th June, 1981
£Lncludcs Rs 0 87 crores lepresenUng part of outstanding loans (ovtrdue interest, etc) of 5 concerns coverted into shares Rs, 0 18 croje of convertible debentures of 3 concerns converted into equity shares and also Rs 5 80 crores of out- sianding loan amount converted into equity shares m jespect of 48 concerns, where Ihc condition ol right of con- vcision. was stipulated at the time of sanction ol loan assistance
*1 hesc sanctions were made to 237 projects oi 202 uxerns
**Thesc sanctions were made to 253 piojcUs of 222 concerns
Spread and Coveraue of Assistance 1948-81
SPREAD
COVERAGE
of
Amount No of Sane- pro- lioned jects
(Rs Crores)
Amount No sane- pro- tioncd jects (Rs Crores)
1
2 3
5
6
4
State/Territory
Industry
Andhra Pradesh Assam Bihar
105 45 117 12 01 11 AH 36 50
148 89 38 69
Sugar
Co-operatives
Ollicis
144 53
Gujarat
108 05 119
187 58
197
3454 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART ltt~SEC. 4 5 1 6 3 4 2 296 61 12 Haryana Himachal Pradesh 211 -12 39 -67 7-76 Textiles 8 Jute manufactures 24 Jammu & Kashmir 4-32 16-77
Karnataka 107-18 113 Chemicals :
Kerala 46-84 41 Basic chemicals 92 '56 72
Madhya Pradesh 36 -95 38 fertilisers & pesticides 63-38 23
Maharashtra 239 -65 276 Synthetic fibres & resins 52 '44 39
Meghalaya 2-74 Other chemicals 22-96 47
231 -34 181
NagaJand 0-50 1
Orissa 28-00 28 Cement 109-57 66
Punjab 53 -89 5J Paper 104-65 86
Rajasthan 69-81 51 Rubber products 32-90 24
Tamil Nadu 128 -98 123 Iron & Steel 76-63 87
Trlpura 1 16 1 Machinery 62-08 92
Uttar Pradesh 137-36 141 Transport equipment 43-38 52
West Bengal 89-51 129 Electrical machinery & appliances 40-36 64
Andaman & Nicobai' Islands 0-49 1 Non-ferrous metals 36-63 31
Delhi 13-85 13 Metal products 28-68 54
Goa 8-70 8 Electricity & gas 27-25 11
Pondicherry 1 -80 3 Hotels 22-30 14
Others 61-81 105
TOTAL : 1293 •0? 1404 TOTAL: 1293 -05 1404
Financial Summary
1980.81
Rs. Gores US S Million
Equivalent*
Share capital (Paid-up) 17-50 21-82
Reserves 40-13 50-03
Borrowings in Rupees 493 -30 615-08
Borrowings in Foreign Currencies 42-51 53-00
Current & other liabilities 34-82 43-41
Contingent liabilities 0-50 0-52
Loans & advances 548 -01 683 -30
Investments 35-48 44-23
Cash & bank balances 21-16 26-38
Fixed & other assets 23-61 29-43
Constituents' obligations 0-50 0-62
Gross income 48-25 60-16
Profit before tax 12-94 16-13
Tax 4-56 5<68
Not Profit 8-38 10-45
Dividend 1 12 1-39
•Rupee amount converted at T.T. icl'ing rate of exchange on the 30th June 1981 @ Rs. 8 02/USf.
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AC.RAHAYANA 21, 1903) 3455The Year..
ECONOMIC SCENE
The fiscal year 1980-81 recorded a growth rate of 6 -5 "n in the GNP in contrast to a fall of 4 -5% in the pre- vious year.
The agricultural production in the year 1980-81 increased by 18°,, in contrast to a decline of 15 •5",', in 1979-80. Output of cash crops, like sugarcane, cotton, jute, oilseeds, etc., registered a significant in- crease. Foodgrains production in 1980-81 reached the figure of 133 million tonnes against 109 million tonnes in 1979-80.
The concerted efforts by Government to improve infrastructure facilities helped industrial production during the year 1980-81 steadily. The industrial growth rate registered an increase of 4 •] % in the year compared to a fall of 1 -4°/a during 1979-80.
While the exports showed an increase of nearly 11 °0 in 1980-81 over the previous year, the import bill, mainly because of substantial increase in the world price of petroleum/petroleum products, shot up by 43°/ with the result that export earnings in 1980-81 could finance only about 55 % of the total import bill of the country.
The position of exports could, of course, have been better, but for the protectionist policies adopted by the developed countries, affecting the growth rate of exports particularly of jute, engineering goods, leather, etc. On the other hand, the liberalisation of the import policy, in the context of other imperatives of the economy, added to the pressure on the balance of trade. Concerted efforts for improvement in this sector of economy continue to be made.
The wholesale price index (1970-71^100) which had risen by 19-9% during 1979-80 (July-June) rose by 17-1% only in 1980-81. The encouraging trends of economic activity during the year thus presented a pictUTO of overall confidence.
A major land mark during the year was the Industrial Policy Statement of July, 1980. The optimum uti- lisation of installed capacity and the expansion of industries, as part of a wider strategy for the revival of the industrial economy, constitute the core of this policy and the objectives include higher employment gene- ration, correction of regional imbalances, faster growth of export-oriented industries as well as self-reliance through deliberate and systematic import substitution development of agro-based industries and equitable opportunities for investment and dispersal of small and growing units in Tural as well as urban areas.
Tn budget proposals for the . year 1981-82, Government decided to give a number of incentives and reliefs. 'Investment Allowance' or 'tax holiday' was extended to another 14 industries. Interest rates on deposits with banks were raised with a view to encourage savings and invest- ment. Interest rate ceiling on debentures was also raised from the existing 12% to 13-5%, besides enhancing the debt-equity ratio norm from J:1 to 2 : 1. The requirements under Stock Exchange guidelines restricting the promoters to hold a maximum of 40 % of the equity of a new company were also relaxed.
The year under report also saw the launching of the Sixth Five Year Plan (1980—85) envisaging an outlay of k s. 1,72,210 crores at 1979-80 prices so as to achieve an annual growth rate of 5-2% p.a. in the gross domestic product.and of 3 -3°'u p,a. in per capita income.
Of the total plan outlay, Rs. 97,500 crores (including Rs. 13,500 crores on current outlay) are to be invested in the public sector and Rs. 74,710 crores in the private sector. Out of the above outlays, 'Industry & Minerals' have been allocated Rs. 15,018 crores in the public sector and Rs. 15,182 crores in the organised private corporate and co-operative sectors.
Of late, Government and the Reserve Bank of India have implemented a package of anti-inflationary measures. The Bank Rate and the Statutory Liquidity Ratio of banks have been enhanced by 1 % each from 9% to 10% and 34% to 35% respectively.
The impact of the improvement in the economic situation had also a stimulating effect on the opera- tions of IFCI. Activities of IFCI recorded an all-round progress in 1980-81.
Tlw Year..
TECI'S OPERATIONS
The net financial assistance sanctioned by IFCJ during 1980-81 amounted to Rs. 2] I-88 crores for 253 projects, which showed an increase of 35 *4% over the previous year's sanctions.
3456 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4Industries of high national priority and othei selected industries of importance claimed a major share of IpCI's assistance during the year 1980-81, which accounted for 83-4% of the total assis- tance sanctioned.
Durinei the year, 104 new projects claimed assistance of Rs. 131 '41 crores. Assistance was granted to K4 projects for modernisation and renovation amounting to Rs. 39-70 crores in addition to assis- tance of Rs. 25 -52 crores sanctioned to 50 projects, under the Soft Loans Scheme. Assistance amounting to Rs. 15-25 crores was sanctioned to 15 projects for implementing ihe schemes of expan- sion/diversification.
During the year 7 new projects promoted by new entrepreneurs claimed assistance of the order of Rs, 9-10 crores. Another 8 new projects set up by new entre preneurs, which were assisted earlier, were provided additional and/or over-run assistance amounting to Rs. 1 '44 crores for their com- pletion.
During the year, assistance to projects located in notified less developed districts/areas aggregated Rs. 103 -26 crores for 127 projects, which worked out to 48-7% of the total assistance sanctioned during the year as against 46-5°,', in the previous year.
Sugar and textile co-operatives numbering 22 claimed assistance of the order of Rs. 19 crores during the year. This was substantially higher than the assistance of Rs. 4 -34 crores sanctioned during the previous year to 9 co-operatives.
Private corporate sector claimed assistance to the extent of 60-6% joint sector 10-2%, public sector 20 -2% and co-operative sector 9%.
Disbursements amounted to Rs. 127-05 crores, which showed an increase of 34-3?,', over the preceding year's figure of Rs. 94 -58 crores.
The operations'for the year showed a gross profit of Rs. 12-94 crores as against Rs. 10-18 crores in the previous year. After providing Rs. 4 -56 crores for taxation, the net profit amounted Rs. 8 -38 crores which was the highest attained by IFCI so far in its thirty-three years of existence. For the first time, TFC1 has declared a dividend of 7°,, on its paid-up share capital.
The cumulative net financial assistance sanctioned by IFCT during thirty-three years of its ser- vice to industry aggregated, up to the 30th June, 1981, Rs. 1293-05 crores for 1404 projects of 1178 concerns involving a capital outlay of Rs. 9546-20 crores. This assistance was extended to 188 con- cerns in the co-operative sector, 109 concerns in the joint sector, 80 concerns in the public sector and 801 in the private corporate sector.
Total disbursements up to the 30th une, 1981 aggregated Rs. 928-54 crores, which constitutecd 71-8/o of the total sanctions. The total assistance outstanding up to the 30th June, 1981 amounted to Rs. 582-87 crores.
The Technical Consultancy Organisations (TCOs), sponsored by IFCI, one each for Himachal Pradesh, Rajasthan and Madhya Pradesh, improved their performance significantly. TCOs cons- titute an important institutional infrastructure for promotion of industries and for providing the much-needed guidance in project identification, formulation, implementation and operation, etc., to the new, small and meduim scale entrepreneurs.
The Risk Capital Foundation (RCF), sponsored by IFCI with a view to providing assistance towards promoters' equity, did a good business. The cumulative sanctions of RCF as on the 30th june, 1981, stood at Rs. 2-54 crores to 60 beneficiaries in respect of 35 projects. The assistance from RCF, which is interest-free and carries only a service charge, enables new entrepreneurs and technologists to contribute their share of the promoters' equity in respect of projects being pro- moted by them.
The Management Development Institute (MDI) along with its Development Banking Centre (DBC) continued to fulfil needs of industry in the field of management development nnd research in an effort to promote the application of management sciences, generally to industrial concerns. During the year, the total programmes organised by MDF, including DBC, aggregated 55 and another 30 programmes in all were conducted in the fiist half of the year 1981.
During the year, IFCI decided to institute two more Chairs for the promotion of research in the field of industrial management and develoment banking, one each at the Department of Commerce, University of Gauhati and University of Madras.
PAAT m—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3457Report of the Board of Directors for the year
Ended the 30th June, 1981, under Section 35
of the Industrial Finance Corporation Act,
1948 (15 of 1948)
1- WORKING RESULTS AND
PERFORM ANCE—1980-81
The Board of Directors of TFCI have pleasure in presenting the 33rd Annual Report with the audited Statement of Accounts for the year ended the 30th June, 1981.
259 concerns for an aggregate assistance of Rs. 1319-57 crores (including Soft Loan cases), during the year, as against applications from 237 concerns for an aggregate assistance of Rs. 865 -84 crores (including Soft Loan cases) in the previous year. On an average more than 21 applications were processed in each month of the year.
Working Results
The year's working resulted in a total income of Rs. 48 -25 crores, as against Rs. 39 -77 crores in the previous year. After deducting interest paid on bonds and other borrowings, amounting to Rs. 30 -80 crores, and, after meeting all ex- penses, including Rs. 0 -05 crore towards depre- ciation, and, Rs. 0-11 crore towards loss on account of exchange fluctuations, the profit be- fore tax for the year amounted to Rs. 12 -94 crores, as against Rs. 10-18 crores in the pre- vious year. After providing for income-tax liabi- lity to the extent of Rs. 4 -56 crores, the net profit for the year worked out to Rs. 8 -38 crores, as against Rs. 4 -79 crores in the previous year.
The net profit for the year has been appropri-
ated as under :—
Net profit for the year
Appropriations Transferred to—
(d) General Reserve Fund . . . . . . .. (b) Benevolent Reserve Fund (c) Special Reserve
(Under Section 36(l)(viii) of the Income Tax Act, 1961)
Allocation to Staff Welfare Fund . Payment of dividend
A Statement showing disposal of applica- tions (including Soft Loan cases) during the year, State-wise, is given in Appendix -A to the Report.
As on the 30th June, 1981, complete applica- tions from thirty*three concerns (including ap- plications from two concerns for Rs. 4 90 crores under the Soft Loans Scheme) for an aggregate assistance of Rs. 260 -50 crores, were under various stages of processing. In addition, applications from 70 concerns under normal schemes of financing and 6 concerns under Soft Loans Scheme for an aggregate assistance of Rs. 617-85 crores and Rs. 15-87 crores respectively, on joint financing basis, were also under exami- nation of IFCI along with other all-India financial institutions.
(Rs Crores)
Previous year 1979-80
This yew 1980-81
8 38
4-79
1.-46 0 25
0.85 0-25
5-54
2-73
7-25
3-83
0.01 1 12
0 02 0-94
4.79
8.38
Sanctions
The increase in the net profit for the year by 74 -9 % over the previous year's profit is largely due to improved working as also the higher tax relief available to the financial institutions under Section 36(1) (viii) of the Tncome Tax Act, 1961.
With the transfer of Rs. 7-25 crores to the reserves, it may be possible for IFCI to mobilise more resources for financing by way of borrow- ings.
Operations—1980-81
Due to an overall improvement in the eco- nomy, particularly in the latter half of the fiscal year 1980—81, there was a marked increase in the number of applications received for financial assistance. IFCI, jointly with other all-India finan- cial institutions, processed applications from
16—369GI/81
The gross financial assistance sanctioned by IFCI during 1980—81, aggregated Rs. 212-73 crores for 253 projects, of 222 concerns, as against Rs. 157 -24 crores sanctioned for 237 pro- jects of 202 concerns in 1979—80. The net finan- cial assistance sanctioned, after adjusting can- cellation of Rs. 0 -85 crore, amounted to Rs. 211 -88 crores for 253 projects, which showed an increase of 35*4% over trie net financial assist- ance of Rs. 156*43 crores for 237 projects in the preceding year. Full particulars of concerns sanctioned assistance during the year are given in Appendix-B to the Report.
Rupee sanctions, comprising rupee loans of Rs. 176-36 crores including underwriting and direct subscription assistance of Rs. 17 -25 crores and guarantees of Rs, 0 -70 crore, were of the
3458 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART HI—SEC. 4order of R^. 1*>4 -31 crqrcs in 1980-81, as against Rs. 134-65 crores in 1979-80—an increase uf 44-3%. Rupee loans amounting to Rs. 176-36 crores sanctioned during 1980-81 included a sum of Rs. 25 -52 crores to 50 projects under the Soft Loans Scheme.
Foreign currency loans sanctions during the year amounted to Rs. 17-57 crores as against the sanctions of Rs. J5J6 crores sanctioned in the preceding year (Rs. 21 -78 crores, if converted at the T.T. selling rate ruling as on the 30th June, 1981). It may be noted that in conformity with the procedure adopted by IFCI from the 1st July, 1980, the rupee equivalents of foreign currency loans are being reckoned at the T.T. selling rates prevailing on the last day of the accounting year, as against the erstwhile practice of converting them at the parity rates.
Disbursements
Disbursements in 1980-81 were of the order of Rs 127 -05 crores as against Rs. 94 -58 crores in 1979-80 showing an increase of tiboiit 34 -3 %. The rupee loan disbursements aggregated Rs. 105 -63 crores, including a sum of Rs. 24-59 crores disbursed under the Soft Loans Scheme. Foreign currency loan disbursements amounted to Rs. 19 -28 crores in the year as against Rs. 9 -56 crores disbursed in the preced- ing year at the T.T. selling rates as on the 30th June, 1981, (Rs. 7-91 crores at erstwhile parity rate) in 1979-80. The investments by way of underwriting/direct subscription during the year amounted to Rs. 2 -14 crores.
Assistance to Priority Sector
Industries of high national priority and other selected industries of importance continued to claim the major share of IFCI's assistance during the year, which accounted for 83-4% of the total assistance sanctioned. Cotton textiles claimed 18-6% of the total assistance sanctioned fol- lowed by sugar 11 -5%, cement 11 -5%, paper 9-2%, basic industrial chemicals 5-7% and power generation including equipments etc., 4 -8 %. Out of 253 projects assisted during the year, the number of projects in industries of high natioal priority and other selected industries of importance was 199, and, claimed assistance of Rs. 176 -J75 crores.
Types of Projects Assisted
An analysis of the assistance sanctioned dur- ing the year 1980-81 shows that Rs. 131 -41 crores were claimed by 104 new projects, while assis- tance for modernisation and renovation, etc., amounted to Rs. 39 -70 crores for 84 projects. Expansion/diversification of 15 projects claimed Rs. J 5 -25 crores, and Rs. 25 -52 crores went to 50 projects sanctioned assistance under the Soft Loans Scheme. The analysis also reveals that the industry attached considerable import- ance to the setting up of new units as also for modernisation of existing units, and, insofar as the expansion programmes were concerned, the industry was able to, in most of the cases, meet of the requirement to a consideabie extent from their own internal generations.
Another significant feature of the year's assistance was that high-cost projects involving project cost of above of Rs. 5 -00 crores claimed 88-5% of the assistance sanctioned to the new projects as against 66 -1"; in 1979-80. Appen- dix-C to the Report gives the classification of new projects assisted during the last two years, according to the size of the total capital outlay.
Assistance to Projects set up by New and Technician Entrepreneurs
During the year, 7 new projects promoted by new entrepreneurs claimed assistance of the order of Rs. 9-10 crores. Another 8 new pro- jects set up by new entrepreneurs, which were assisted earlier, were provided additional and/ or over-run assistance amounting to Rs. 1 -44 crores for their completion. The new projects set up by new entrepreneurs included 3 cement plants, 2 in Andhra Pradesh and one in Kar- nataka, a hotel in Goa, a spun silk plant in Karna- taka, a polybutenes manufacturing plant in Gujarat and a ceramic glazed tiles plant in Rajasthan.
Assistance for Projects in Less Developed Areas
During the year, assistance to projects loca- ted in the notified less developed districts/areas aggregated Rs. 103-26 crores for 127 projects, which worked out to 48 -7 % of the total assis- tance sanctioned during the year as, against 46-5% in the previous year. Of the projects assisted in the notified less developed districts/ areas, 68 were new projects, of which 19 pro- jects involved a capital outlay of Rs. 5 -00 crores and below each, and 49 projects had a capital outlay of more than Rs. 5 -00 crorcs each.
Sectoral Classification of Assistance
During the year, IFCT sanctioned assistance to 19 sugar co-operatives of the order of Rs 16 -70 crores and three textile co-operatives to the extent of Rs. 2-30 crores, totalling Rs. 19-00 crores. This was substantially higher than the assistance sanctioned during the previous year, which was Rs. 4 -34 crores only to 9 co-opera- tives. Of trie 22 co-operatives sanctioned assis- tance during the year, 7 co-operatives from Maharashtra claimed assistance of the order of Rs. 7 -51 crore followed by 5 jn Uttar Pradesh (Rs. 3 -62 crores), 4 in Andhra Pradesh (Rs. 3 -47 crores), 3 in Karnataka (Rs. 2 -25 crores) and one each in Gujarat (Rs. 0 -60 crores), Madhya Pradesh (Rs. 1 -05 crores)" andJOrissa (Rs. 0 -50 crores).
In the corporate sector, 173 projects in the private sector claimed assistance of the order. of Rs. 128 -45 crores, while 28 joint sector units and 30 public sector units claimed assistance of Rs. - 21 -52 crores and Rs. 42-91 crores respectively. In the private corporate sector, assistance to large industrial houses, i.e., mter-connected under
PART HI—Sac. 4] THE GAZETTE OF INDIA. DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3459takings registered under MRTP Act, 1969, showed a steep decline to 17-4% of the total assistance sanctioned during the year from 30-6% of the total assistance sanctioned in the previous year.
Percentage-wise, the private corporate sector ;laimed assistance to the extent of Rs. 60-6%, joint sector 10-2%, public sector 20-2%j and to- operative sector 9 %.
Appendlx-D to the Report gives the sector- wise as well as industry-wise classification of financial assistance sanctioned during the year.
Industry-wise Sanctions and Disbursements (1980- 81)
The industry-wise distribution of financial assistance sanctioned and disbursed during the year is given in Appendlx-E to the Report. Indus- try-wise statistical data in the Report has been presented according to the National Industrial Classification.
It would be observed that the textile industry claimed major share of assistance followed by chemicals and chemical products, sugar, paper, cement, engineering industries, etc.
Soft Loans Scheme
As mentioned earlier, the assistance sanc- tioned during the year 1980-81 included a sum of Rs. 25 -52 crores for 50 projects of 39 concerns under the Soft Loans Scheme.
The assistance sanctioned under the Soft Loans Scheme showed a decline in the year 1980-81 compared to the sanctions accorded in previous year. This trend could be attributed to (a) the favourable conditions that prevailed in the tex- tile industry, in particular, cotton textiles which helped most of the units to finance their moderni- sation and renovation schemes out of their own resources and (b) the units, particular- ly in the jute sector, possibly relegating their modernisation programmes to the background, more so due to non-availability of quality spare parts and machinery required for the renovation as also the unduly long delivery schedules indi- cated by the few machinery suppliers in the country.
Table 1
Out of the total assistance of Rs. 25 -52 crores sanctioned under the Soft Loans Scheme (Rs. 2 -90 crores on soft terms and Rs. 22 -62 crores on
"normal terms), 54-3% (Rs. 13-86 crores) was claimed by 28 projects in cotton textile industry followed by 9 projects in engineering industry which ^accounted for 25 -9% (Rs. 6 -60 crores). Six sugar units shared 11-1 % ot assistance (Rs. 2-84 crores), five cement units claimed 3-4% (Rs. 0-87 crore) and two jute units had a share of 5 W3 % (Rs. 1 -35 crores) in the total sanctions under the Soft Loans Scheme.
Of the 50 projects claiming assistance under the Soft Loans Scheme, 11 belonged to Maha- rashtra, 8 to Uttar Pradesh, 7 to Gujarat, 4 to Madhya Pradesh, 5 to Andhra Pradesh, 5 to Tamil Nadu, 3 to West Bengal, 2 to Karnataka and one each to Bihar, Haryana, Punjab, Orissa and Rajasthan. Assistance to projects in Maha- rashtra and Gujarat together was of the order of Rs. 11-30 crores which worked out to 44-3% of the total assistance sanctioed under the Soft Loans Scheme. This was due to the fact that a number of textile units located in Maharashtra and Gujarat availed themselves of the assist- ance under the Scheme.
State-wise Sanctions and Disbursements (1980-81)
IFCI's assistance was spread over 18 States and 3 Union Territories. Table 1 gives the State- wise sanctions and disbursements during the year.
Tt will be observed from tho Table that Maha- rashtra, Andhra Pradesh, Rajasthan and Punjab accounted for 49 -9 % of the total assistance sanc- tioned during the year under review. The cor- esponding share of these States during the pre- ceding year, i.e., 1979-80 was 34-2%. The share of these four States went up mainly on account of large assistance sanctioned to certain highly capital intensive projects in the said States, as for instance, cement, synthotic fibre, textiles, heavy industrial machinery, caustic soda, soda ash, sugar, etc.
The share in the assistance sanctioned to the States of Uttar Pradesh, Gujarat, Karnataka, Tamil Nadu and West Bengal varied between 8 -0% to 4 4%. All other States/Union Territories claimed assistance between 2-7% to 0*1%.
State-wise Sanction* and Disbursements 1980-81
State/Territory
(Rs. Crores)
SANCTIONS
Loans
DISBURSEMENTS
Total
Amount
No. of projects
Under- Guaran- writings/ teed Direct subscrip-
tions
Corpo- rate Sector
Coope- rative Sector
2
3
Percent- age of total dis- bur§ement Percent- age of total sanctions
4 5
1
3 -47
7
8
10 6
9
4-8
1-69 —
Andhra Pradesh 25 •84 6-08 Assam 0 •50 Bihar 5 •69 Gujarat 14 •80
0-05 —
2-02 —
'. ', 0-60
20-68 0-50 5-64 12 18
29 1 10 17-
3-20 "-97
2-5 5-5^.
12-2 0-2 2-7 7 0
3460 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART IlW^Stec. 4 10 8 3 4 5 6 7 1 2 9—, — 2-25
1 05 7-51 0-50 _
— — 3'62
0-59 0-80 — 0-61 0-55 0-30 2-93 0-28 3 06 2-81 0 49 — 0-49 0-25
—
.—
9 3 2 15 5 7 41 5 14 25 21 I 27 14 3 3 1
3-29 1 04 — 13-91 9-93 3-51 23'09 3-22 7-55 8'78 15-50 0-15 13-77 4 18 1 '36 1 08 0 14 H a r y a na . . . " •. — HImachal Pradesh Jammu Kashmir Kaniataka Kerala . Madhya Pradesh Maharashtra Orissa Punjab Rajasthan Tamil Nadu Tripura . Uttar Pradesh West Bengal Delhi Goa Pondlcherry
•—•
4 60 2-99 2 15 11 '07 4-50 2-58 25-99 3 10 17-97 18'95 13-22 0-36 12-94 9 07 4'14 2-14 0 16
0-33 —
— 5 19 — 3-79 — 2 13 — 13 -9.3 — 5-05 — 3-93 — 36 -43 — 3-88 — 21 -03 0 -70 22 -46 — 13 -71 — 0 36 — 17 4)5 — 9'32 — 4-14 — 2-47 — 0 16
2-4 1 -8 1-0 6 6 2-4 1 -8 17-2 1-8 9-9 10-6 5-8 0-2 8-0 4 4 2-0 1-2 0 1
2-6 1 1 — 11 0 7-8 2-8 18-2 2 5 5-9 6-9 J2-2 0-1 10-8 3-3 11 0-8 01
0-70 211-88 100-0 253
17-25
127 05
174 -93
100 0 Total : . 19 00
Processing of Sanctions
Economic Contribution of Projects Assisted during
the year.
An analysis of ihe economic contribution of
117 new, expansion and diversificatin projects assis- ted by 1FC1 during the year is given in Table 2. This does not, however, include the cases of overruns in project cost and modernisation schemes, etc.
Of the 222 concerns sanctioned assistance dur- ing the year 1980—81, as many as 174 con- cerns were sanctioned assistance within a period of 3 months, 32 within a period of 6 months and 16 within a period of more than 6 months. By and large, more than 80% of the concerns were sanctioned assistance within the time frame of 4 months which the institutions have been endea- vouring to adhere to.
Table 2 Direct Economic Contribution of New, Expansion and Diversification Projects Assisted by the Corporation dnrlny 1980-81
(Rs. Crores)
Industry
No. of projects
Value of output
Total capital cost
Gross value added
Capacity-per annum
Direct employ- ment to be cre- ated (Nos.)
(5)
(3)
(2)
(4)
(1)
(fi)
(7)
128-77 17 03
19 131 -94 11988
3,22,095 tonnes of sugar.
Sugar
162-00
18
14953
40-31
Cotton textiles .
126 -23
3,63,578 spindles* and 300 looms.
" 11
Paper & paper products
61-82 3878 62-43 19-82 66,650 tonnes of writing and pnntiug paper, 4,930 tonnes of poster paper, 5,450 tonnes of speciality paper and 10,000 tonnes of duplex boards.
9 222-57
102 -73 51-35 29 '96 lakh tonnes.
Cement .
2965
4
792
Fertilisers & pesticides
59 35
74-14 14-89 82,500 tonnes of single super phosphato, 66,000 tonnes of ammonium chloride 1,50,000 tonnes of diammonium phosphate and 1,000 tonnes of malathlon.
Chemicals &
chemical product!
14 124 19 2573 121 -98 43-69 74,119 tonnes of caustic soda, 36,900 tonnes of liquid chlorides, 46,200 tonnes of hydroch- loric acid, 10,000 tonnes stable bleaching powder 1,000 tonnes of calcium hypo- chloride, 33,000 tonnes of sulphuric acid, 800 tonnes of polypropylene film, 245 ton- nes of napthols, 200 tonnes of fast colour base, 2,700 tonnes of guargum and derivatives, 200* tonnes of fluchloralin (Basalin), 135 tonnes of carbandnzim (Bavistin,) 50 tonnes of trido- morph (Cahxin), 600 tonnes of acrylic binders 700 tonnes of fat liquors, 200 tonnes of metal ' complex dyes, 5,000 tonnes of polyoutenes, 20,000 tonnes of carbon black, 4,015 tonnes of rosin. 825 tonnes of Lturpontrne, 2,290 tonnes of deri- vatives of rosin etc., 3,539 tonnes of procured tread rubber and accessories and 1,20,000 nos. of automobile tyres.
f>A*T 111—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGKAHAYANA 21, 1903) 3461Table 2 (Contd.)
(Ks. Crores)
Mo. of projects
Value of output
Industry
Total capital coil
Gross Capacity per annum Value added
Direct employ- ment to be cre- ated (Nos)
t
(3)
(5)
(6) (7)
(4)
(2)
(1)
187 09
I 1fi7K9
19-34 1,500 tonnes of aluminium foils, 3,000 ton- 726 1(J 39 -87 1761
652 05 64 -35
B/f Metal prodi
75 jets 9
nes of aluminium allov collisions, 6 '5 milli- on nos. of rolled ring hearings, 4,500 nos. of marine containers, 12,000 tonnes of strap- pings and accessories 6 -6 lakh sq. metres of copper foils and 3 -35 lakh sq. metres of copper clad phenolic base laminates and 76 -8 million nos. of metal containers.
19-7y 1,548 looms 65-45
6 rics 27
79-45 220-00
3212 8906
40-52 223 -63
Hotel Other indust
117 1065 -42 50668
291 -67
9H0-55
•Excludes marginal expansion in capacit; involved in certain cases where assistance was sanctioned under the Soft Loans Scheme,
Total disbursements upto the 30th June, 1981, amounted to Rs. 928-54 crores which rep- resented nearly 71 -8% of the total sanctions. The total assistance outstanding as on the 30th June, 1981, amounstcd to Rs. 582-87 crores.
Appendix 'F' to the Report gives the number of sanctions, net cumulative sanctions, the amount disbursed and the assistance outstand- ing facility-wise as on the 30th June, 1981.
It will be observed from the Table that TFCl's assistance is expected to help create additional capacities in various industries including con- sumer industries like cotton textiles, sugar, ce- ment, paper, etc. The total capital cost of 117 projects studies is estimated to be Rs. 1065-42 cfores and the value of output is expected to be of the order of Rs. 980 -55 crores. The projects are also expected to create direct employment for about 50,668 persons. The gross value is likely to be Rs.' 291 -67 crores. 2, THIRTY THREE YEARS A : REVIEW
More important than the quantum of assist- ance sanctioned by IFCI, is its catalytic role, which has meant overall resource mobilisation of Rs. 9546'20 crores for 1404 assisted projects of 1178 industrial concerns.
The performance of FFCI over thiry-three years of its existence bears testimony to the fact that it has made appreciable progress not only quantitatively but also qualitatively in fulfilling the 'objectives' set under the I.F.C Act. 1948.
Plan-wise Classification of Assistance Sanctioned and disbursed
A significant feature of TFCFs operations has been the integration of its lending and invest- ment policies with the country's Five Year Plans. The way IFCI has kept pace with the tempo of industrialisation in the country during each of the plan periods can be gauged for Table 3 be- low.
With the modest business of Rs. 3 -25 crores in 1948—49, the first year of its operations, IFCI completed its thirty-three year on the 30th June, 1981 with a total sanctioned assistance of Rs. 1293 -05 crores covering 1404 industrial projects of 1178 industrial concerns spread all over the country. This assistance was extended to 188 concerns in the co-operative sector, 109 concerns in the joint sector, 80 concerns in the public sector and 801 concerns in the private corno rate sector. Table 3 Assistance Sanctioned and Disbursed during the Five Year Pl^ns
(Rs. Crores )
Net
issistance sanctioned Financial
financial t
disbursed
Year ending June 30
assistance *
Total Loans
Loans
Guaran-
Total
Under- writings tees
Under writings
Guaran- tees
2
4
7
8 1
3
5
6
__
5 79
5-79
„
— —•
PERIOD PRIOR TO THE FIRST PLAN : 1949—51 . THE FIRST PLAN : 1952—56 . THE SECOND PLAN : 1957—61
8 12 27 02 50-56
— — 3-57 16-30
8-12 27-02 70-43
10-94 40-62
— 1-31 15-11
10-94 57-04
T HE T H I RD P L AN :
0-4S
0-41 3 18 6-39
14-65 1 9 62 . . .. 1 9 b3 . . .. 1 9 64 . . .. 1 9 65 . . .. 1 9 66 Total :
0-24 3-99 1-96 3 36 4-48 14-03
1] -66 22-92 25-98 39-46 ' 34 -12 13TI?
19 -23 21-17 27-12 21 -41 26 12 115 05
0-73 4-63 4-34 3-55 3-97 17-2:
10-58 13 -23 3-89 1-30 1 29-48
11 01 15-75 17-63 21-45 27-47 93-31
2 17 26-80
20-44 36-38 44-69 28-85 31-39 —leFTT"
3462 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SBC. 4
(1) (2) (3) (4) (5) (6) (7) (8) (?)
T HE A N N U AL PLANS :
1967 12-70 1 87 4 00 18-57 32-57 2-90 5-64 41-11
1968 14 -76 1-49 0 88 17-13 25-68 1-06 2-61 29-35
1969 23 '73 2-41 0-39 26-53 15-98 1-68 0-28 17-94
Total • 51 -19 5 77 5-27 - 62 -23 74-23 5-64 8-53 88-40
THE F O U R TH PLAN :
1970 11 -87 1-24 0-04 13-15 17-52 0-85 0-34 18-71
1971 27 -50 2-15 0-42 30-07 18-36 0-87 0-20 19-43
1972 13 '53 4-57 38-10 23 -31 1 -00 0-11 24-42
1973 40 -54 2-01 0-60 43-15 32-78 2-29 0-61 35-68
1974 35 -23 2-47 0-04 37-74 30-32 1-46 0-05 31-83
Total : . . . 148 -67 12-44 1-10 162-21 122 -29 6-47 1 -31 130-07
THE FIFTH PLAN :
1975 29 -29 3-89 33-18 37-38 1 06 0-34 38-78
197& 45 -74 3-11 48-85 43-27 2-40 45-67
1977 085 -47 8-36 93-83 58 45 1-72 60-17
1978 10 40 5 49 0-28 106-17 58-88 5-10 63 -98
Total : 260 '90 20-85 0-28 282 03 197 -98 10-28 0-34 208 -60
1979 141 -01 10-08 — 151-09 68-58 3-15 0-20 71-93
1980 147 07 9-22 156-29 92-34 2-24 94-58
Total : 288 -08 19-30 307 -38 160-92 5-39 0-20
166-51
THE SIXTH PLAN :
1981
193 -93 17-25
G R A ND TOTAL ; .
. 1143 '52 96-40
The 'Spread' & 'Coverage'
The State/Territory-wise and industry-wise classification of the net finacial assistance sanc- tioned by IFCI up to the 30th June, 1981, is given in Appendices 'G' and 'H' to this Report. Appendix T shows the industry-wise distribu- tion of the net financial assistance sanctioned in each State as on the 30th June, 1981.
—
:
0 70 211 -88
2-14
124 -91
127 -05
53-13 1293 05 830 -99
52-29
45-26
928 -54
industry of importance in the country which has not been the beneficiary of some assistance from IFCI.
IFCTs contribution to the industrial develop- ment has been substantial, which can be judged by the benefits that have flown from its direct financial assistance to diversified industries. The two major recipients of IFCI's assistance, viz., sugar and textile industries, most of the indus^ trial units relating to whom have come up in the iess developed districts/areas and are largely in the co-operative sector, have helped to trans- form the rural scene. They have not only canali- sed the savings of the agricultural sector for the industrial use, but, due to their labour-intensive nature, have provided larger avenues for both direct and indirect employment. Like-wise, assistance to fertilisers, pesticides, agricultural machinery, transport equipments as given a boost to the agri- cultural production in the country.
Sectoral Classification of Assistance
(a) The-Co-operative Sector
It would be observed from the aforesaid ap- pendices that depending upon the level of eco- nomic activity and growth in a particular Re- gion/State/Territory, IFCI's assistance has prac- tically reached all places wherever a medium, medium-large or large-sized industrial unit has come up. IFCI has been able to spread its net wide enough for catching the industries in as many as 20 States out of 22 and 4 Union Territor- ies out of 19. If IFCI has not been able to reach the two States and a few Union Territories, it is due to two specific reasons; firstly, IFCI cannot set up, on its own, any industrial unit at a place where it does not exist, in other words,- it has to depend upon applications for variable industrial projects coming to it for financial assistance form a particular State or Union Territory and secondly, IFCI finances only medium, medium-large and large-sized industrial units in corporate and co-operative sectors.
With regard to coverage, a wide variety of industries are now in IFCI's portfolio; in fact, it is no exaggeration to say that there is hardly any Table 4 below gives the State and industry- wise classification of assistance to the co-opera- tive sector up to the 30th June, 1981.
The aggregate assistance of Rs. 184-94 crores, sanctioned to 189 co-operative sector projects, has claimed a share of 14 -3 % in the total sanc- tions of IFCI up to the 30th June, 1981. Further,
PAKT H V - S E C. 41 THE GAZETTE OF INDIA, PECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3463Table -I
Assistance Sanctioned to Industrial* Cooperatives 19*48 • SI
(Rs. Crores,)
Percentage
sanctioned industry-wise
Assistance
Other:,
Total
Sugar
Spinning
Cotton
State/ Territory
No.
No.
No. Amount
Amount
Amount No. Amount
„
.
19
4
1 * 0-79
15 1 1
n4
3** 5-50 __ -_ I*** 0-22
2-35 , 0-25 2-43 1 -00 2-84 0'82 0-80 10-67 1 59
. .— .— — _ .— —. _. — _— —
18 5 19 3 3 71 4 5 3 11 22
14-63 0-60 0-90 9-44 2-86 12-15 1-80 1-85 68-53 2-05 3-70 0 95 9'24 18-69
14 2 2 57 2 4 1 •9 18 —. 1
1 1
too 1-64 0-85 2-90 0-40 —
A n d h ra P r a d e sh A s s am . . .. B i h ar . .. G u j a r at H a r y a na K a r n a t a ka K e r a la . . .. Madhya Pradesh Maharashtra Orissa . . .. Punjab . .• . Rajasthan Tamil Nadu Uttar Pradesh West Bengal O oa . . ..
1-50
1 2 1 4 1 1 14 2 1 2 2 4 1 —-
_. — _ — —
16-98 1 -39 1 15 17-37 3-86 15-21 2-62 2-65 79-20 3-64 4-70 2 -59 10 09 21 -59 0-40 1-50
9-2 0-8 0 6 9-4 21 8-2 1.4 1-4 42-8 2-0 2-5 1-4 5-5 11-7 0-2 0-8
189
T o t al : .
5 6-51
184 94 144
100-0
40
148 -89
29-54
•Jute Co-operative.
••Fertiliser & synthetic fibre Co-operatives.
***Vegetable oil extraction Co-operative.
tion, jute arid synthetic fibres have accounted for assistance amounting to Rs. 6-51 crores (3-5% of the total assistance sanctioned to the co- operative sector).
au analysis of the assistance sanctioned to the co- operative sector reveals that about 810/ n of the assistance has been for new projects and nearly 43% has gone to 83 industrial co-operatives set up in notified less developed districts/areas.
(b) The Corporate Sector
Sugar co-operatives (144) with an assistance ofRs. 148-89 crores have claimed 80 -5°/f of total assitance sanctioned to the co-operative sec- tor, followed by 16-0% share of 40 co-operative cotton spinning mills. Five other co-operatives in industrial like fertilisers, vegetable oil extrac-
Table 5 below gives the classification of pro- jects and assistance sanctioned to (i) joint (ii) public and (iii) private sector, industry- wise upto the 30th June, 1981 :
Table 5
Industry-wise Distribution of Assistance to Corporate Sector up to the 30th June, 1981
(Rs. Crores)
INDUSTRY
JOINT
PUBLIC
PRIVATE
TOTAL
No. of projects
Assistance sanctioned
No. of projects
Assistance sanctioned
No. of projects
Assistance sanctioned
No. of Assistance projeeis sanctioned
(2)
(6)
(7)
(3)
(8)
(4) (5)
(9) 0)
36 190
53 256
15 56
. . ..
1. Sugar 2. Textile 3. Jute manufactures 4. Basic chemicals . . .. 5. Fertilisers & pesticides . 6. Synthetic fibres & resins 7, O t h er c h e m i c a ls 8. C e m e nt 9. P a p er
1 5 3 2 6 8 1
16-60 39 -79 1 -16 18-27 9-51 2-70 4-63 18-79 10-39
— 3 5
— 2-35 7'86 1 18 4-51
2 10 1 16 4 3 9 1 12 —. 4 10 4 5 8 4
1-44 8-92 1-65 19-62 22-33 6-38 6-90 3-53 17-13 >_ 3-93 10 '43 4-68 2-71 7-69 4-77
—.
„
10. Non-ferrous metals 11. R u b b er p r o d u c ts 12. I r on & steel 13. M a c h i n e ry . . .. 14. T r a n s p o rt e q u i p m e nt . 15. Electrical m a c h i n e ry & appliances . 16. M e t al p r o d u c ts . . .. 17. Electricity & gas 18. H o t el 19. O t h e rs
4 1 1 1 12
21 51 14 33 31 57 73 31 20 74 83 45 52 49 10 33 76
23 72 21 38 46 66 86 31 24 87 92 52 64 54 11 34 105
14-99
0-50 1 -65 6-63
20-65 132 87 13-17 54-67 28-54 40-86 11-21 87-25 77'13 36 -63 28-97 63 -85 49-54 39 -49 28-16 23-91 26-75 20-65 40-19
38-69 181-58 15-98 92-36 60-38 49 94 22-74 109-57 104-65 36-63 32-90 76-63 62 08 43-38 40-36 28-68 27-25 22 -30 61-81
110
126
979
137-10
146 -52
824 -49 1215 1108-11 Total :
3464 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 2 1, 1903) [PART III—SEC. 4guarantees for foreign currency loans raised by the assisted industrial*units abroad (Rs. 53 -13 crores).
Purposc-wi>e Classification of Assistance Sanctioned Au analysis of the aggregate assistance t.f Rv J108'II crores to the corporate sector reveals that 72-7°o of it was in the form of rupee loans (Rs. 805-74 crores), 13 -8 °o in sub-loans in foreign currencies (equivalent to Rs. 152 -84 crores), 8 -7% by way of underwriting and direct subscription (Rs. 96-40 crofes) and 4-8°/; by way of guarantees for deferred payments in respect cf machinery imported from abroad and/or
Table 6 below gives the purpose-wise classi- fication of total assistance sanctioned up io the 30th. June, 1981.
Table 6
Total assistance sanctioned classified according to Type of Project
(Rs, crores)
Net financial assistance sanctioned
Loans
Total of total Type of project
Under- writings and direct subscrip-
Total cost of the projects
Guarantees for deferred payments and foreign
tions loans
686 -23 247 09 68 45
5860-42 1905-49 977 -52
83-31 9 77 3-32
43-32 9 00 0-81
812'86 265 86 72-58
62-9 20 6 5 6 New projects Expansion/diversification^ Modernisation, renovation etc..
96-40
53-13
Sub-total -.
1001 -77 141 75
8743 -43 802 -77
1151-30 141 -75
89 1 10 9 Under Soft Loans Schemo
1143-52
96-40
9546 -20
53-13 1293 05
100-0 Total : . . . . ..
Area-wise Classification of Assistance Sanctioned
In terms of the directives issued to it, IFCI has been taking considerable interest in the indust- rial development of less developed States/Terri- tories right from its inception so as to have a balanced economic development in the country. Up to the 30th June, 1981, IFCI had sanctioned financial assistance aggregating Rs. 539 -79 crores to 552 projects located in the notified less deve- loped districts/areas. This constituted about 41 -7% of its net cumulative sanctions.
It would be observed that the assistance of the order of Rs. 812 -86 crores, being 62 -9% of the total sanctions, was claimed by new projects, whose total capital outlay amounted to Rs. 5860 -42 crores. The existing projects claimed assistance to the tune of Rs. 265 -86 crores for their expansion and diversification schemes, being 20-6% of the total assistance sanctioned. Assistance for moder- nisation and renovation of the projects accounted for Rs. 72-58 crores; this is in addition to Rs. 141 -75 crores sanctioned under the soft Loans Scheme. Total modernisation assistance, including assistance under the Soft Loans Scheme, accounted for 16-5% of the total assistance sanctioned.
Table 7 gives the industry-wise and facility- wise classification of assistance sanctioned to projects in notified less developed districts/areas during the thirty-three years ended the 30th June, 1981.
Table 7
Industry-wise Distribution of Assistance Sanctioned to Projects In Notified Less Developed Districts/Areas—1948-81,
( R s. C r o r e s)
Total I n d u s t ry
No. of projects
Project cost
Rupee loans
Foreign currency
Under- Guaran- writings/ tees
sub-loans Direct subscriptions
(4)
(2)
(5)
(3)
(6) (7)
(1)
(8)
122 88
1-69 —
440-10 371 -68
81 '51 86-56
89 73 87 -22 1. T e x t i l es . . . .. 2 S u g ar . . . . .. H c h e m i c a ls a nd chemical products
6 03 1 -39 2-34
19 59 15 76 9-92 0-75 9-22 65'12 47-75 1916
33 10 6 2 25 35 52 31 20 13
—Basic industrial chemicals . —Fertilisers • • • • —Synthetic fibres . . .. — S y n t h e t ic r e s i ns . . .. — M i s c. c h e m i c a ls . . .. 4 C e m e nt . . - • •• 5. Paper and paper products 6 Iron & steel 7' Machinery and accessories . 8 Rubber and rubber products
285 -48 516-55 111 -78 5 14 59-90 706-28 397 -24 240-56 132 03 161 -24
9-64 12-37
1 -27 4-25 4-77 1 96 6-32 1 85
6 05 0 -48 0 -6d — ' 5-47 2-63 — 2 -20 — 0 07 — 1 -32 5-62 7-80 3 11 2 18 — I '63 — 2 '03 0 -43
31 09 19 78 14-46 0-82 11-81 74-99 63 -43 23-30 17-59 16-68
PART III—Src. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3465(5)
(8)
(3)
(4)
(7) (1)
(->
9. Non-ferrous metal products .
10 16 15 13 11
1 -73 1 -44 1 -62 1-35 0-75 —
8-16 0-31 — — — -.
0 51 3-47 2-67 6 64 0-91 0-01 —.
—.
2-34 1 -86 .— —.
K 7 5 5 8 5 6 3
. — — —. •—
1
0-24 0-22 .— —
10- Metal product;. 11. Misc. non-metallic mineral producN 12. Electrical machinery and appliances 13. Transport equipment 14. Jute manufactures . . .. 1 5. H o t el 1 6. W o od p r o d u c ts . . . .. 1 7. G l a ss a nd g l a ss p r o d u c ts 1 8. M i s c, f o od p r o d u c ts . . .. 1 9. M i n i ng . . . . .. 2 0. L e a t h er p r o d u c ts . . . .. 21. Misc. manufacturing industries 22. Electricity 23. Coir products
99 30 50-54 34-13 43-19 77-70 23-71 26-05 20-18 27-11 28-76 70-78 13-29 5-52 0-66 2-43
5-95 6 06 6-29 2-17 6-40 5-53 4-88 2-23 2-31 3-97 3-26 1-94 0-83 0-43 0-27
0 16 0-22 0-55 0-32 0-45 0-41 0 03 — —•
16-35 11-28 10-58 1016 8-06 5-54 5-04 4-79 4-72 4-29 3-71 2-59 1 08 0-43 0 27
50-74
3971 -23 429 -87
552
46-69 12-49 Total :
539 -79
nomic returns from its investment. In its follow- up measures, IFCI has been able to inculcate amongst the entrepreneurs and promoters, a better awareness of financial and managerial im- peratives for success of an industrial venture. The promoters and managements are also now able to appreciate in an increasing number the bene- fits derived by them from the various exercises that IFCI requires them to carry out during im- plementation and operational stages of the project.
Of the 552 projects involving a capital outlay of Rs. 3971 -23 crores located in the notified less developed districts/areas, as many as 219 be- longed to the sugar and textile (cotton, woollen manufactures, jute and coir*) industries and a large number of these were located in rural and semi-urban areas. Most of these projects, apart from generating large scale direct and indirect employment, have been instrumental in bringing in the rural and semi-rural areas, amenities such as improved roads, better irrigation facilities, schools, hospitals, etc., which before their ad- vent were totally non-existent. The units in other sectors, which are located in less developed districts/areas, have also provided impetus to the setting up of small-scale and other ancillary units.
Size-wise Classification of Assistance Sanctioned
A development bank like IFCI requires dyna- mism and innovativeness for expanding its business and also improving the quality of its assets and liabilities. Basically, this has been IFCI's corporate objective. While IFCT has in- creased its business over the years, it has also gained strength year by year by making its op- erations consistently profitable. In thirty-threo years, IFCI has contributed to National Exche- quer by way of tax alone Rs. 43 crores, nearly two-and-half times of its existing paid-up capital. It has been able to build up its reserves, out of its taxed profits, which are more than double of its paid-up capital.
Tn Appendix'J' to this Report, the net financial assistance sanctioned by TFC1 upto the 30th June, 1981, has been classified, accoording to the size of the amounts sanctioned to industrial con- cerns, both in the co-operative and corporate sec- tors. It would be observed that with the fescla- tion in the costs of the projects over the years, the quantum of TFCTs assistance has also been going up, with the result that the percentage of concerns claiming assistance from IFCI exceed- ing Rs. 1-00 crores, which was 55-4% in the year 1970—71, had gone up to 69-2°,; in 1980-81.
Qualitative Achievements
In its promotional role also, IFCI has en- deavoured to contribute to socio-economic ob- jectives of the development strategy and has formulated such schemes and such agencies, (some for the first time in the country), as have helped to fill in some of the gaps, in the institu- tional infrastructure for promotion of industries and broadbasing of entreprencurship, with a deliberate thrust towards the development of industries in small scale and ancillaries sector.
TFCFs basic capital is its qualified and trained staff, which it has built up reasonably well. TFCI has also been able to develop the tools of its busi- ness, such as the application of the latest tech- niques of appraisi I and follow-up, Tn its early years, the assistance given by IFCI was based inte alia on consideration of margin and secur- ity. Today, the wider considerations of profita- bility and productivity of a venture, its overall viability and bankable nature, its likely contribu- tion to the economic strategies of the country, as well as, furtherance of the objectives of public policy, etc., govern its business. It is now cus- tomary with IFCI, not only to measure the fin" n~ cial returns but also to measure more basic eco-
More important to IFCI has been the job of supervision of assisted accounts and its new emerg- ing role, which is now called the 'monitor- ing role.' Tn its monitoring role, with challenges galore, IFCI feels that it has long distance to traverse. Problems of overrun finance, of mis- management, of sickness in the industry, etc., are some of the few challenges wnich the development banks in the country are now facing in an increasing number. IFCI h' pes that with the help of Governments, both at Centre and in the States, and with emeasures, both fiscal and financial, as also under the existing system of con-
17—369GI/81
3466 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4sortium or joint financing, it would be able to perform its new emerging role effectively.
3. OPERATIONAL DEVELOPMENTS
Lending Operations
IFCI's lending operations continued to be guided during the year, apart from the statutory provisions of the Industrial Finance Corporation Act, 1948 and the Rules and Regulations framed thereunder, as also, the directives issued by the Industrial Development Bunk of India (IDBI) un- der Section 6(3) of the Act, by the Policy State- ments made by Government on matters relating to industry, licensing, imports, exports, indust- rial securities including issue of debentures— convertible and non-convertible, foreign collaborations, promoters' contribution, etc., and objectives, as well as strategies enunciated in the Sixth Five Year Plan.
During the year under review, the institu- tions, on a reference being received from the Government, agreed to regard the manufacture and installation of new and renewable energy systems by the industry as a priority area. IFCI also continued to pay due attention to the need for dispersal of industry, industrial development of relatively less developed areas in the country, growth of the industries in the co-operative sector and a reasonably well diversified invest- ment portfolio for itself.
and select the rpplications from the mini paper projects.
More or less, the same approach was adopted for selecting the applications for processing from the mini cement units.
In respect of other projects, the selection of applications for processing continued to be done on the merits of each case at the inter-insti- tutional level under the prevailing mechan- ism of meetings of the Senior Executives (SEM), and, Heads of all-India financial institutions (IIM) under the aegis of IDBI.
Appraisal Criteria
IFCI continued to evaluate the viability of the projects, jointly with other institutions, from several aspects namely, technical, financial, com- mercial and economic, giving due ^importance to the managerial aspect of the projects too. Con- siderable emphasis was laid on the credibility and probity of the promoters and for this pur- pose the practice of obtaining information reat- ifig to their income tax and wealth tax assessment was introduced. As the promoters normally form core of the management, their background and traits as entrepreneurs and the quality of manage- ment of their existing business was also looked into while appraising the projects, with due flexi- bility in regard to new entrepreneurs. Apart from the above, the 'social-cost benefit analysis' of the projects, energy conservation and ecolo- gical considerations were also given due weightage, while making an evaluation of the projects for the purposes of financing.
Financing Norms
(a) Promoters Contributions
A large number of applications were received from certain priority sector industries. For instance, in the case of sugar industry the appications for financial assistance from high cost new sugar units which had been kept in abeyance since May 1978 on account of their having been rendered non-viable due to with- drawal of incentives and reliefs, were consi- dered afresh after Government had announced a revised scheme of incentives and reliefs effec- tive from the 1st October, 1980. Pursuant to the above, the institutions decided to take up eight- een applications from sugar units for processing in the first instance. The remaining applications have also been decided to be taken up for pro- cessing in a phased manner during the year 1981—82.
After the announcement of the new Textile Policy by Government in March, 1981, the in- stitutions reviewed the applications in the field of textile industry and decided to take up appro- priate number of applications. Such reviews are on an ongoing basis, through a Committee of the Officers of the institutions who screen appli- cations based on criteria approved for the pur- pose.
During the year under review, the normal requirement of promoters' contribution at the rate of 20% of the total project cost, which was relaxable to 17-5% in the case of projects pro- posed to be set up in notified less developed dis- tricts/areas, was further reduced from the level of 17 -5% to 15% of the project cost depend- ing upon the merits of each case, in respect of projects set up by non-MRTP Companies in noti- fied less developed districts/areas with effect from the 29th April, 1981. There was no change, however, in the norm of 15% promoters' con- tribution in respect of projects sponsored by tech- nician entrepreneurs, locally based new en- trepreneurs, and non-resident Indians. Likewise, promoters' contribution at the rate of 10% of the total project cost continued to operate as an accept- able rorm in respect of projects set up in the identified hill areas; also there was no change in the norm in respect of projects upto a cost limit of Rs. 25 crores set up by rOn-MRTP concerns in the industries specified in Appendix-1 to the Industrial Policy Statement of the 2nd February, 1973.
(b) Financing Patttern
In respect of mini paper projects, again, hav- ing regard to the number of applications received and the experience of the institutions with small paper units already commissioned, it was decided during the year under review to follow a selective approach and, for th-t purpose, a Committee of the Officers of the institutions was formed to screen During the year under review, the Central Government amended the guidelines issued in
PART HI—SEC. 4] THii GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3467July, 1972 with regard to the percentage of securi- ties to be offered to the public for enlistment of the securities on the Stock Exchanges. Accord- ing to the revised guidelines issued on the 2nd March, 1981, the promoters have been allowed to hold higher equity than the present 40% limit, subject to an upper ceiling of 70% during the initial stages of a project, to match the promoters' contribution required to be put in as per the directions of the financial institutions or under the MRTP Act. However, the higher equity share-holdings above 40% are required to be divested within three years from the date of commercial production by an offer of sale at the prevailing market prices to the general public and not t> the existing shareholders as rights shares. As a result, now, for raising the quota of pro- moters' contribution, the promoters will not have to provide unsecured loans for the financing of their projects.
Government guidelines have also clarified that the contribution made by the Central Govern- ment, State Governments, developmental or investment agencies of a State Government and the public financial institutions like IDBI, IFCI, ICICI, LIC, UTI, etc., individually or together, upto 11 % shall continue to be construed as a part of public subscription and, "LIT case, the above men- tioned bodies, singly or jointly, subscribe upto \l)/0, the contribution by the promoters shall be in such a manner that the minimum public offer is not reduced below 20%.
creased the quantum of Central Investment Subsidy from 15% (subject to a ceiling of Rs. 15 lakhs) to 20% (subject to a ceiling of Rs. 20 lakhs) on the fixed assets in respect of projects coming up in the north-eastern region effective from the 1st March , 1981.
IFCI also continued to act as the disbursing agency for the disbursements cf the amount of Central Investment Subsidy to those projects financed by the all-India financial institutions, where it was in the 'lead'.
Scheme of Concessional Finance for Projects set up in Notified less Developed Districts/Areas.
The scheme of concessional finance for pro- jects set up in notified less developed districts/ areas, which had been in operation since July, 1970, underwent a change with effect from the 2nd March, 1981, when the all-India financial insitututions, under the aegis of IDBI, decided that the concessional rate of interest for projects set up in notified less developed districts/areas should be confined only to new units (inclusive of new units set up by existing concerns) and not to expansion/diversification schemes of the ex- isting units. There was no change, however, in theceilirg of assistance under the scheme, which continued to be Rs. 2 crores in the case of consortium financing and Rs. 1 crore where IFCI was involved individually. The details of the scheme as now obtaining are given in Appendix 'K' to the Report.
(c) Debentures as a source of Finance fur
Industry.
In order to revive the debenture market as a source of finance for industry, Government raised the ceiling of interest rate on debentures from 11% to 12% on the 27th October, 1980 and again from 12% to 13-5% effective from the 2nd March, 1981. The incentive of 1% has also been allowed in the interest rate if the company has been declared dividend in excess of average of last three years. To enable companies to raise more funds from debentures and thereby re- duce their burden on the public financial institu- tions, Government have also relaxed the debt- equity ratio norm for the purpose by raising it from 1 : 1 to 2 ; 1. Debentures for working capital and project finance can be issued, redeemable after seven years from the date of issue.
Scheme for providing Modernisation Assistance
As reported earlier, for providing modernisa- tion assistance to five selected industries, viz., cotton textiles, cement, sugar, juto and certain engineering industries, IFCI had been operating a scheme known as the Soft Loans Scheme introduced in November, 1976, in participation with IDBI and ICICI. During the year under report, the all-India financial institutions, includ- ing IFCI, reviewed the Soft Loans Scheme and extended modernisation assistance to all indus- tries as a part of their normal lending opera- tions. However, under both the above schemes, viz., Soft Loans Scheme for five selected indus- tries, and Modernisation Assistance Scheme for all other industries, assistance is now being pro- vided without the stipulation of convertibility clause.
(d) Debt-equity Ratio
During the year under review, there was no change in the norm of debt-equity ratio followed by the public financial institutions.
Lending Terms
(a) Rate of Interest
(e) Central Investment Subsidy
As reported earier, the all-India financial institutions continued to treat the amount of Cen- tral Investment Subsidy admissible to the eligi- ble industrial concerns for setting up their pro- jects in the specified areas as 'equity'. With a view to encouraging the industrial activity in the north-eastern region, Government of India in- During the year under review, the lending rate of interest of all-India financial institutions including IFCI had to undergo revision, firstly, with effect from_the 1st July, 1980, for the pur- pose of absorbing the incidence of Interest Tax levied on the interest income of all-India finan- cial institutions under the Finance Act, 1980, and, later, with effect from the 2nd March, 1981 having regard to the increase in the cost of funds
3468 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 19Q3) LPART III—SEC- 4to be mobilised during the Sixth Plan period and the need for a better alignment in the interest rate structure.
A schedule showing the lending rates of in- terest prevailing on the ,30th June, 1980, revised rates, brought into force with effect fcrm the 1ST July 1981, and later the rates as increased from the 2nd March, 1981, are given in Appendix-L.
With the changes in the basic lending rates, the rates of interest for the bridging loans were also revised; however the difference between the ragular lending rate and the bridging loan rate of interest continued to remain at 1 % per annum.
During the year, the institutions also decided to adopt uniformly the practice of charging addi- tional 1 % per annum interest on loans extended to private limited and closely held companies effective from the date (s) of the completion of their projects for which assistance had been sanctioned. The aforesaid additional levy of in- terest, however, was not made applicable to the public sector companies, cooperative societies and wholly owned subsidiaries of widely held public limited companies as also to companies whose shares were not listed as a result of direct subscription by the institutions, or, those which gave an undertaking that they would get their shares listed by a certain agreed date.
dues or mis-management of an assisted con- cern or continuous closure for over three months of an assisted concern, the financial institution could with the concurrence of Government, exer- cise the conversion option in such a way that their shareholdings could go upto 51 % or above.
Already, the convertibility clause was not ap- plicable to (a) rupee loans sanctioned to the units in the cooperative sector, (b)rupee loans granted under the Soft Loans Scheme or for modernisa- tion assistance, (c) rupee loans sanctioned to the units which were either in the public sector or which attracted the provisions of the Section 619B of the Companies Act, 1956, (i') rupee loans where the amount in aggregate did not exceed Rs. 25 lakhs and (e) loans sanctioned in foreign currencies. During the year under re- view, pursuant to the revised guidelines issued by Government, in cases where the aggregate rupee loan and debenture loan assistance from the institutions was less than Rs. one crore, the conversion option was waived depending upon the merits of each case.
Likewise, where the existing institutional share- holdings iu the equity capital of an assisted concern were 51 % or more, the 'lead' insti- tution was authorised to take a view regarding waiver of conversion right on the merits and cir-~ cumstances of each case.
(b) Commitment Charge
Upto the 30th June 198J, (FCI had stipulated conditions relating to conversion of rupee loans into equity in respect of 529 cases, while the con- version right was actually exercised in 51 cases; in most of the other cases the lime for the exercise of the right had not yet arrived and in a few cases, it was considcrd expedient by the institutions jointly, after taking into account all relevant factors to waive the exercise of the conversion right.
(d) Repayment Schedules
During the year under review, there was no change in the rates of commitment charge ex- cept that in respect of applications considered under the Soft Loans Scheme, where the entire term loan was sanctioned at the normal rate of interest, the commitment charge was also made applicable at the normal rate as against the con- cessional rate.
(c) Convertibility Clause
During the year, it was decided that the re- payment period of loans sanctioned to indust- rial concerns should generally be in keeping with the debt ^,ervice coverage and keeping the same in view, the repayment period should be kept to the minimum, including appropriate initial mora- torium,
(e) Stipulation relating to the Declaration
of Dividend
In accordance with the Government guide- lines issued in 1971, 1FCI had been reserving the right of conversion of a part of a rupee loan extended by it into equity capital of the assisted concerns in cases where the aggregate financial assistance exceeded Rs. 25 lakhs. The stipula- tion was discretionary on the part of the institu- tions in the case of assistance from Rs. 25 lakhs to Rs. 50 lakhs but was mandatory where such assistance in aggregate exceeded Rs. 50 lakhs.
During the year under review, with Govern- ment's announcement to modify the guidelines relating to the insertion of the convertibility clause, it was decided with effect from tJie 1st August, 1980, that the mandatory insertion of convertibility clause would apply to financial assistance exceeding Rs. one crorc instead of Rs. 50 lakhs prescribed heretofore. It was also decided that the institutions would exercise the conversion option in such a way that they did not acquire more than 40%. of the share, capital of an existing concern. However, in cases of persistent defaults in the payment of institutional During the year, as a rule, the condition was relaxed so that the permission for declaration of dividend by the borrower was required only when the rate of dividend exceeded 15% per annum or the maximum paid during the period of last throe preceding years whichever was higher.
Disbnrsement Procedure
During thu year under review, the all-India financial institutions streamlined their disbursement pro- cedures so as to provide not only the relief to the borrowers but also help them in availing themselves of the assistance as expeditiously as possible. One such decision was to accept
I"ART III—SEC. 4] TJ3E GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3469Equitable Mortgage in ell cases, as a rule, as against the earlier practice of having an English Mortagage. The other important procedural change, which considerably reduced the time lag in the process of documentation was the system of Power of Attorney, under which, in all cases of consortium financing, the 'lead' institution would get a common set of documentation executed on its behalf and also as agent of the other participat- ing institutions by virtue of the Power of Attorney given by the latter.
disbursement of funds and post-sanction follow- up. With this end in view, a scheme known as Participation Certificates Scheme covering pro- jects costing not more than Rs. 10 crores was for- mulated last year.
During the year under review, the modalities of this scheme were sorted out and a beginning has since been made.
Follow-up Mechanics
Bridging Loans
During the year under review, the prccedure relating to the disbursement on bridging loans was considerably streamlined. Bridging loans (whether under normal scheme of financing or urder Soft Loans Scheme) can now be availed of against the following simplified documentation :
(a) Personal guarantees of the promoters/
directors ;
(b) Hypothecation of machinery and movable assets of the borrowers (subject to prior charge on specified movables in favour of bankers for working capital);
(c) A demand promossory note in favour of
the lending institutions.
The quantum of the bridging loans which could be availed cf by a borrower concern was increased to 90 % of the regular loan amount depending upon the circumstances of each case. To avoid repetitive documentation for successive bridg- ing loans, it wa.i decided that the brie ging loan documents could be executed straightaway for an amount cquivaleut to 90% of the loan amount and that the instalments of the bridging loan amount could be disbursed depending upon the requirements, the compliance of essential pre-re- quisitcs, e.g., matching contribution, wherever considered necessary and other relevant factors.
In the case of co-operative societies, the bridg- ing loans can be disbursed against 100% Central Government/State Governmet gur rantees and, in such cases, even the execution of Deed of Hypo- thecation can be dispensed with.
With a view to ensuring that the assisted pro- jects were implemented according to the schedule and that an eye was kept on the growth and health of fhe assisted projects to avoid sickness, and, in case sickness had set in, to cure it; considerable emphasis was put during the year on the monitoring role of the financial institutions.
As with all other institutions, follow-up mechanics
in 1FC1 comprise the following :
(i) Obtaining monthly production reports which the assisted concerns are required to sub- mit to their respective sponsoring authorities, i.e., Directorate-General of Technical De- velopment (DGTD), Textile Commis- ssioner, Jute Commissioner, Directorate pf Sugar and Vanaspati, etc.
(ii) Obtaining of quarterly progress reports on the prescribed format devised by the institutions.
(iii) Carrying out site inspections of the fac- tory and books of account of the assisted concerns.
(iv) Examining the half-yearly/yearly statements of working results and financial position of the assisted concerns.
(v) Appointing, in suitable cases, official/non- oflicial nominees on the Board of Directors/ management of assisted concerns to watch the interest of the financial institutions includ- ing IFCI and to report developments from time to time in regrard to the operations and management of the assisted concerns.
Simplification of the Legal-Documents.
With the introduction of the scheme of common documentation by the 'lead' institution on be- half of other participating institute ns, the oppor- tunity was taken during the year under review to simplify the prevailing legal documentation. Accordingly, new simplified formats of the Letter of Intent, Letter of Underwriting, Loan Agreement, Deed of Hypothecation and other related documents were evolved and put into operation.
While there was no change in the aforesaid mechanics, the intensity and periodicity of the same was in- creased during the year. Apart from the intensive follow-up, IFCT at its Head Office as also through its Regional and Branch Offices maintained close interaction and inter-face with the promoters/chief executives of the units which showed signs of incipient sickness. Wherever necessary, the moni- toring of the units was also ensured adequately through the appointment of concurrent auditors, (inance directors, constitution of management committees, strengthening of oiganisational set-ups and through the appointment of consultancy organisations in cases where the weak areas in an assisted project happened to be technical, market- ing, quality consciousness, etc.
Participation Certificates Scheme
As reported last year, the all-India financial institutions had been considering for quite soroe time the ways and means by which, as far as possible, an applicant concern had to deal only with one institution for appraisal of its project, The bankers of the assisted concerns who are generally the first to know the symptoms of incipient sickness, because of their day-to-day touch with the management of industrial units, were also consulted from time to time and wherever, the
3470 THE GAZETTE o£ ttfDIA, DECEMBER 12, 1981 (AGRAHAYANA 2l, 1903) [PART I H - S E C. 4question arose of evolving a common strategy and course of action for remedying the situation, the bankers' co-operation was inevitably solicited.
Greater emphasis was also placed on the assis- ted concerns introducing need-based systems of Management Information & Control in their orgamsations and on their placing before their Board of Directors the annual operating plans, capital and revenue budgets and data relating to production, sales, stocks, receivables, liabilities, etc. to ensure the overall effectiveness of their Board and the effectiveness of the nominee direc- tors.
The various forms and returns relating to the follow-up mechanics are currently being re-exa- mined by a Committee of the Officials of the institutions under the Chairmanship of IFCI. It is expected that further streamlining of the proce- dures and practices would be possible in the coming years.
Nominations
An important feature in bulding up a close relationship between the financial institutions including IFCI and the management of assisted concerns is the appointments of nominees on the latter's Board of Directors. IFCI, in pursuance of Section 25(2) of the IFC Act, has been reserving for itself the right to appoint generally not more than two directors on the Board of Directors of -, industrial concern assisted by it. In cases of joint financing, the practice has, however, been to have one, or, more common nominees of the partici- pating all-India financial institutions.
In terms of Government guidelines relating to the conversion of loans into equity, nomina- tion on the Boards of assisted concerns is obligatory where the stipulation for conversion of loans into equity has been incorporated in the agreement for the financial assistance. In other cases, IFCI has been using its discretion in nomi- nating directors on the Boards of assisted con- cerns, which is being exercised generally under the following circumstances :
(i) Where IFCI's commitments are relative-
ly large;
(li) Where defaults have been made in the payment of principal and/or interest on institutional loans; and
(iii) Where there arc otherwise special circum- stances calling for vigilance or a closer watch on the operations of the assisted concerns.
The nominees to be appointed on the Board of Directors of the assisted concerns may be offi- cial or non-official. While official nominees are generally the whole-time employees of any of the all-India financial institutions, non-offlcial nomi- nees are appointed, wherever considered necessary, from out of a panel of suitable persons which is re- quired to be maintained by IDBI with the approval of the Central Government for the purpose.
Of late, several steps have been taken to make .the institution of nominee directors more effective.
Ai reported last year, the financial institutions have jointly decided to provide secretarial assistance to non-official nominee directors by way of reimburse- ment of actual expenditure upto Rs. 1,000/- per annum per nominee director and have also agreed to reimburse for incidental expenses and pay even the sitting fees to them, where the assisted concerns, for reasons of financial stringency, are not in a posi- tion to do so. The objective is that the nominee directors take full interest in the affairs of the concerns and are able to provide meaningful feed- back to the institutions they represent.
Upto the 30th June, 1981, IFCI had made nominations on 527 assisted concerns. On 335 concerns, only official nominees had been appointed; on 176 concerns, the non-officials had been nomi- nated and on 16 concerns both official as well as non-official nominees had been appointed.
With a view to reviewing the role of nominee directors and making them more effective as also for examining the need and modalities of having a cadre of professional managers available with the institutions, Government appointed a Committee, comprising of the Joint Secretary in Ministry of Finance, Department of Economic Affairs (Banking Division) as the Convener and the Chairman of IDBI, IFCI, ICICI and IRCI as its members. The report of the Committee has since been submitted to Government.
Consortium Approach—
Lead Institution Concept
A special feature of considerable importance in IFCI's operations is the joint financing of pro- jects of the consortium approach in close colla- boration with other all-India financial instiu- tions.
The mechanism of consortium approach con- sists in the holding of periodical meetings of all-India financial institutions under the aegis of IDBI. Meetings which are being attended month- ly by the Heads of the all-India financial institu- tions are known as the Inter-Institutional Meet- ings (1IMS) and meetings which are being held fortnightly and attended by the Senior Eexccu- tives of the all-India financial institutions are called Senior Executives Meetings (SEMs). During the year under review, eleven meetings of IIM and fifteen of SEM were held in Bombay under the aeigs of IDBI. These meetings provided a useful forum for taking a coordinated view and evolving consensus on matters of policy, busi- ness, procedure, processing of applications, apprai- sal, and follow-up of projects, as also rehabilitation of sick units.
Related with the mechanics of consortium financ- ing is the concept of 'lead' institution, which has now been deepened in all matters relating to the appraisal of projects, disbursement of assistance, post-disbursement follow-up and nursing of sick projects. The basic approach under the 'lead' institution concept, is that an applicant/assisted con- cern has to remain in touch with only one institution —which is in the 'lead'—and the other institutions
PART III—Sue. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3471normally keep close rapport and commuunicatc with the 'lead' institution, though, direct contacts with the applicant/assisted concerns can also be made by them if the exigencies so requised. As on the 30th June, 1981, in about 516 concerns IFCI was holding the lead responsibiity.
Coordination with Commercial Backs
The inter-institutional coordination with the commercial banks continued during the year. Commercial banks participating in the term loans and the 'lead' bank, amongst the banks providing working capital facilities to the assisted units, conti- nued to be invited for the appraisals, as well as, for follow-up inspections of the concerned units taken up by IFCI in the capacity of the 'lead' institution. The practice of obtaining bankers' report on the credit- worthiness, etc., of the promoters/directors of the applicant concerns and of sharing essential oper- ational information relating to the assisted con- cerns continued to be in operation during the year on a reciprocal basis. Through the forum of the Standing Committee on Co-ordination be- ween Banks and Financial Institutions on which IDBI is represented, co-ordination with banks was also achieved in the matter of sharing of securities and sharing of cash flows in difficult or sick cases.
In the matter of rehabilitation and recon- struction of sick cases also, a close rapport was maintained and participation of the concerned commercial banks was obtained in all phases pertaining to the revival of sick units, or in taking other corrective measures in the case of other jointly financed units.
Investment Operations
In the matter of investments, IFCI continued to play the role of a catalyst. Basically, the in- vestment operations of IFCI were confined to the acquisition of shares as a result of underwriting operations, direct subscription to equity in the case of small/medium sized projects and exer- cise of convertibility stipulations. Of the invest- ments aggregating Rs. 34-52 crores held in IFCI's investment portfolio as on the 30th June, 1981 about 65-5% had been acquired as a result of underwriting operations, 16-7% by way of direct subscriptions and 17-8% through exercise of convertibility option.
As a matter of general policy, IFCI looks upon underwriting activity only as a method of project financing. The direct subscriptions to the equity are made in respect of small-medium sized pro- jects on a selective basis.
Further, from the policy angle, excepting those investments which IFCI has made by way of initial subscription to the share capital of Specialized Financial Institutions and Technical Consul- tancy Organisations, IFCI's endeavour is to dispose of the shares in small lots to the public with the twin objective of recycling its funds and activating the capital market. In deciding whether to dis- pose of the shares or not, IFCI takes into account the following features :
(a)1 its existing holding with reference to the
date of acquisition,
(b) financial results and soundness of the com-
pany,
(c) expected bonus/rights issue, (d) past dividend record and likely forthcoming
dividend,
(e) average return to IFCI with reference to price and period for which shares have been held,
(f) present market quotations and future trend, (g) effect on stock market and management of
the concern.
IFCI mainly sells its shares in the open mar- ket through recognised stock brokers in small lots or to investment institutions at agreed price. Only in special cases and circumstances, where either the arrangements of buy-back of shares have been agreed upon with the promoters, or, where it is considered necessary to strengthen the position of the existing management, or, there is no market for shares in question, the shares are sold to the original promoters by transferring them directly or through private negotiations.
The investment operations of IFCI are being reviewed by the Board of Directors from time to time, apart from the reports made to them about the acquisition of shares as a result of underwrit- ing and direct subscription operations as also sale- write-off/redemption and disposal of investments.
During the year under report, the investments of IFCI by way of underwritings/direct subscriptions amounted to Rs 2-14 crores and sale/write-off/ redemption of its investments aggregated Rs. 1 *07 crores.
4 PERFOQMANCE OF IFCI ASSISTED
CONCERNS—AN OVEQVIEW
With the improvements in the infrastructure and as a resuit of the deliberate thrust given by Government to see that the industrial capacity built up was utilised to the utmost extent, the indus- trial growth rate registered an increase of 4 -1 % in the year 1980-81, a significant improvement com- pared to 1979-80, when it had declined by about 1 -4%.
The effect of overall improvement in the indus- trial production was visible in equal measure amongst the industrial concerns assisted by IFCI. Appendlx-M gives the capacity utilisa- tion for certain selected industries in the country and also of the reporting assisted concerns of IFCI during the years 1979-80 and 1980-81. As would be observed from the said Appendix, the capacity utilisation percentage in the year 1980-81 in respect of most of the industrial units assisted by IFCI was higher than in the previous year.
The performance of some of the important indus- tries whom IFCI rendered assistance has been broadly indicated in the following paragraphs.
3472 THE GAZETTE OF INDTA, DECEMBER 12, 1981 fAGRAHAYANA 21, 1903) [PART III—SEC. 4The performance during the year 1980-81 (April- March) of some of the oncerns assisted by IFCI in these industries has been reviewed based on a survey of about 325 industrial concerns in various industrial sectors.
However, a few mills replaced old looms with auto- matic ones and this helped them to raise their out- put.
Sugar
The production of sugar in 1980-81 is expected to be around 51 -40 lakh tonnes, which is about 12-81 lakh tonnes more than the previous year. The installed capacity of sugar industry with 323 sugar factories as on the 31st March, 1981, was 62 '03 lakh tonnes per annum.
During the year under report, the sugar policy followed by Government was that of partial control with dual pricing mechanism. From the 1st October, 1980, Government revived the scheme of incentives, concessions and reliefs applicable to new/expansion sugar projects, based on rovised parameters which resulted in improving the eco- nomic viability of the sugar units to a considerable extent.
There are at present 693 cotton textile mills in the country, comprising 415 spinning mills and 278 composite mills. Of these, IFCI had assisted upto the 30th June, 1981, 296 projects. Most of the IFCI assisted textile units were able to maintain satisfactory progress in the calendar year 1980. However, from the beginning rf the year 1981, due to increase in the prices of the medium and coarse varieties of cotton, fluctuations in the yarn prices and power-cuts imposed in certain States, the mills, started showing a declining trend in their working results. As per the survey recently carried out by IFCI, out of 88 reporting units, 72 units have reported under-utilisation of capacity due to power shortage in varying degrees and a few have also reported strained labour relations. On the whole, the industry, which enjoyed a fairly long spell of favourable conditions during the past two years, is now finding it relatively difficult to cope with the increased prices for raw materials and other inputs, with a subdued market.
With the announcement of the new Textile Policy by Government on the 9th March, 1981, which envisages a multi-fibre policy and assures the industry the ready availability of synthetic fibre and yarn from domestic sources, augmented, as may be necessary, by imports, is likely to improve the position of the industry.
Jnte Industry
IFCI had assisted upto the 30th June, 1981, 197 sugar units of which 144weie in the co-opera- tive sector and the rest in the corporate sector. It was observed that 68 co-operatives, which had responded to the survey carried out by IFCI, were able to have a capacity utilisation of 77% in the year 1980-81 as against 61-7% achieved by 62 reporting cooperatives in the previous year. The average capacity utilisation percentage of 18 units in the corporate sector was 67 -8 % as against 51 -4% of 19 units in the previous year. Nevertheless, in certain pockets of the country, mills could not have crushing to the expected level, either due to the non-availability of the cane or diversion of cane from sugar factories to jaggery and khand- sari. The recovery percetage, though better than the pervious year, could also not make any signifi- cant improvement. In Andhra Pradesh, eastern region of Uttar Pradesh, Kerala, eastern and north- eastern region of the country, the sugar units could not improve their working results to any appreciable extent due to paucity of cane- In Western Maha- rashtra region, some of the factories could m t start crushing in time. A definite improvement was, how- ever, visible in the units located in other parts of the country.
Though, the total production of jute goods in terms of tonnage during the year 1980-81 (April- March) at 13-91 lakh tonnes showed a close parity with the production of the corresponding period of the previous year at 13-37 lakh tonnes, the overall performance, during the year 1980-81, of the jute units was subdued from the product- mix angle, inasmuch as it comprised more sacking and hessian fabrics and a corresponding reduction in the carpet backing cloth. The profitability] of the industry during the year 1980-81 was also adversely affected, mainly because of the decline in the selling price of the finished goods.
Cotton Textiles
The cotton textile industry fared well in 1980-81 (April-March), with an all-round increase in production and sales. The total production of all types of yarn including that of synthetic blend variety was 1330 million kgs. against 1217 million kgs. in the previous year.
The production of all types of cloth, including blended varieties was 4164 million metres, as against 4085 million metres in the previous yeaT. The relatively low increase in the cloth output shows that a substantially large portion of yarn was utilised by the decentralised sector for raising its output.
There was no increase in the number of looms because of the freeze on the capacity for expansion, Export of jute goods was also lower by about 11% during the year 1980-81 (April-March) as compared to the corresponding figure of the pre- vious year, mainly due to the low off-take of carpet backing by overseas buyers.
There are at present 71 jute mills in the coun- try. Five jute mills, the management of which was taken over by Government earlier, were nation- Used on the 21st December, 1980. To manage the affairs of the nationalised mills, a statutory or- ganisation, namely. National Jute Manufacturers Corporation was set up by the Government.
F i d 's assistance upto the 30th June, 1981 was
of the order of Rs. 16 -77 crorcs to 24 jute mills. Of these, the performance of most of the existing units during the year 1980-81, was in line with the industry's trend but the operational results of three jute mills, one in Assam, one in Bihar and the third one in West Bengal, were far from satisfactory
PART IH—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3473because of some additional factors like low pro- ductivity, strained labour relations, etc. As regards the new jute units being setup with lFCI's assistance, while the Orissa project was implemented and started commercial production in January 1981, the one in Tripura was yet to complete implementation of its scheme.
Some of the jute mills, which had been sanc- tioned assistance under the Soft Loans Scheme, could not avail themselves of the same, because of the protracted delivery of the processing machinery by the machinery manufacturer and rho scarcity of the quality spare parts in the market.
Man-made Fibre Industry
Upto, the 30th June, 1981, IFCT had assisted 39 projects in the category of synthetic fibres and resins claiming an assistance of Rs 52 -44 crores. The financial performance of most of these concerns was satisfactory during the year under review. The average utilisation of cjpa- citiy was also reasonably satisfactory if compared with the all-Tndu figure, otherwise it was better than last year's performance.
showed a decline of about 33% in its profit due to the impact of the retention price for full year as compared to its 25 0/ 0 impact in the previous year. The other two feitiliser plants in Gujarat, one in the cooperative sector and another in the corporate sector, were in the implementation stages during the year. The performance of the fertiliser unit in Uttar Pradesh continued to be satisfactory, except- ing that for about 3 months the plant remained closed on account of disruption in the supply of naptha from Baraum Refinery, the production of which was suspended on account of stoppage of sup- ply of crude oil from Assam. During this period, the capacity utilisation of the unit went down to 44 "0 but picked up to almost 99 °o after the supply was restored. Tn Maharashtra, one of the assisted units improved considerably its performance with the change effected by the institutions m its management. One unit m Tamil Nadu registered a significant increase, despite constraints of power-cuts, etc., in the pioduction of ammonia, urea and c'la-ammonia phosphate, which was the hiuhest achieved since the commissioning of the plant The other major unit in the State manufacturing ammonium chloride (to be used as fertiliser) was still in the implemen- tation stage In respect of a fertiliser unit in Kar- nalaka, the capacity utilisation was poor due to non-availability of power, resulting in complete shut down of the unit.
Inorganic Chemicals
In order to augment the availability of man- made fibres and to exercise a sobering influence on the prices, Government followed a somc-what liberal import policy during the year under which import of viscose/polynosic fibre, viscose/nylon filament yarn was permitted on OGL and was exempted from basic customs duty to actual f"users.
Fertilisers
The major inorganic chemicals, viz., soda ash, caustic soda, calcium carbide, carbon black, red phosphorous, ptassium chloride and liquid chlorine showed a declining trend in the produc- tion excepting m the case of liquid chlorine and '"potassium chloride compared to the previous year. The average utilisation of capacity of the report- ing concerns manufacturing caustic soda was 74 -9 % as against the industry's performance of 73-5"^ during the year The units manufacturing liquid chlorine had a 59-2% capacity utilisation against the all-India figure of 50'8%. The carbon black units had capacity utilisation of 65 -1% in the year 1980-81 as against 91 -6"/0 in the previous year.
Cement
There are 32 large fertiliser units producing a wide range of straight nitrogenous, complex and phosphatic fertilisers Besides, there are 35 small units producing single super phosphate and 6 units producing ammonium sulphate as a by-product from steel plants. The production of nitrogenous fertiliser during 1980-81 is expected to be 22 lakh tonnes as against the target of 27 -5 lakh tonnes, the shortfall being mainly due to extensive power-cuts imposed on the fertiliser plants and the shortage of feed-stock inputs naptha, fuel oil, etc, as also delay in commissioning of new projects. Capacity uti- lisation during 1980-81 is expected to be 56-2%, for nitrogen and 68 1 % for sirfile supei phosphate (P2O5) as against 66-2% for nitrogen and 67-3% for P2OS in 1979-80.
There was no change in the prices of major ferti- lisers and the Retention Price Scheme for mitro- genous fertilisers introduced with effect from the Jst November, 1977 and for phosphatic ferti- lisers from the 1st February, 1979, continued to be in operation. Government, however, modified the computation of net-worth for the purposes of return from one based on capital employed method to the concept of equity plus free reserves. The scheme of Fertiliser Freight Subsidy introduced with effect from the 1st November, 1977, also conti- nued to be in force.
Upto the 30th June, 1981, IFCI had assisted seventeen fertiliser units with an assistance of 59 -57 crores The performance of the fertiliser unit in the cooperative sector in the State of Gujarat 18—369GI/81
As on the 1st November, 1980, the installed capacity of cement was 25 -75 million tonnes. By the end of the sixth plan period, ie., 1984-85, the installed capacity of cement was expected to bo raised to 43 million tonnes, of which around 3 -83 million tonnes was expected to be material- ised by the end of 1980-81.
The production of cement in 1980-81 amounted to 18-6 million tonnes as against 17 -6 million tonnes in 1979-80 showing a marginal improvement but was still lower than the figure of 19-4 million tonnes achieved in the year 1978-79. The capacity utilisation was around 72% which was accounted for by shortages in power, coal and rail transport, parti- cularly, upto the middle of 1980-81.
The performance of IFCI assisted concerns, following the*general trend in the country, was also not upto the "mark. The capacity utilisation of one of the units ^located in eastern part of Uttar
3474 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4cable on such paper. The total amount of concessio ^ to a paper unit under this scheme would, however, be limited to 30% of the initial investment made on plant and machinery installed therein.
Rubber Goods Industry Including Tyres and Tubes
Pradesh came down to 53 % in the year under report, as against 66% in the previous year. In the Eastern Region, the units located in Bihar and Meghalaya continued to be in the red. However, the working of cement units of ACC and those located in the southern part of the country, was, by and large, satisfactory. During the year, one unit with a capacity of 1100 tonnes of cement per day went on stream in Andhra Pradesh and was reported to be working satisfactorily. Insofar as the various mini cement plants are concerned to whom the assistance was provided by TFCI during the yenr under report, the projects were reported to be under implementation.
During the year under report, Government reviewed the retention prices of cement to com- pensate the industry for escalation in costs of in- puts. Following the review, an increase in the retention prices of cement of Rs. 13 -65 per tonne was allowed with effect from the 3rd May, 1980. Government further decided to raise the reten- tion price of cement by Rs. 34 -74 per tonne in July, 1981. Government have also decided to extend the subsidy scheme for power generation from captive power plants to generating sets in- stalled by cement plants after October 1978 also.
Government have also drawn up guidelines for establishment of mini cement plants with a view to ensuring that these are set up primarily to exploit limestone reserves in scattered pockets and also at places where it is difficult for large cement plants to be set up on a viable basis.
The industry has been able to achieve self- sufficiency in practically all important items made out of rubber and covers a wide range of products Mich as automobile tyres and tuhes, foot- wear, V-belts, hoses of various types, railway fittings, automobile rubber components, synthetic rubber coats and aprons, surgical and industrial rubber gloves, rubber and PVC conveyor beltings, etc. There are, at present, 106 units engaged in the production of rubber goods in the country.
IFCT's assistance aggregating Rs. 32 -90 crores to the rubber industry, including tyres and tubes, upto tho 30th Ju'e, 1981, had gone to 24 units whose performance, by and large, had, been satisfactory 'luring the year. The main constraints for the industry remained, however, coal and power shortage, and, labour problems during the year under report.
Paper
Duing the year, Government announced excise duty concessions for rubber goods manufacturing industry in terms of which, units which have com* menced or would commence the manufacture of tyres on or after the 1st April, 1976, but, before the 1st April, 1984, would be eligible for the benefits of the new excise relief scheme for a period of 5 years from the date of first excise clearance of tyres from the respective units. The excise unit relief would be at the rate of 25% of the duty leviable and would be admissible upto a level ,of 75% of the initial licensed capacity, during each financial year subject to a ceiling of 30% of the initial investment on plant and machinery installed in the respective unit.
Electrical Machinery
As on the 1st January, 1980, there were 121 unit;; in the organised sector manufacturing paper and paper board with an installed capacity of 15 "38 lakh tonnes per annum. The installed capa- city is expected to increase to 19-12 lakh tonnes in 1984-85 from the present installed capacity of 15-38 lakh tonnes. The production during the year 1980-81 was around 11-00 lakh tonnes which gave a capacity utilisation of 71 -5%.
Upto the 30th June, 1981, IFCI had sanctioned assistance of the order of Rs. 40 -36 crores to 64 units under this industry, which included manu- facture of fans, motors, OLS lamps, fluorescent tube lamps, dry battery cells, wires and cables, filaments, welding electrodes, batteries, transformers, switch gears, etc. The capacity utilisation in the industry showed a sharp improvement over the previous year and had faouruble trends all-round. Only ui certain pockets, e.g., in Kerala and Tamil Nadu, IFCI assisted units did not fare well, otherwise the production in certain cases, by and large, exceeded even the licensed capacity.
Metallurgical Industries
Upto the 30th June, 1981, IFCI had assisted 86 paper and paper product units with an assistance aggregating Rs. 104-65 crores. In line with the general trend in tho industry, the performance of IFCI assisted units in operation, remained marginal, but with visible signs of improvement. The capacity utilisation of most of the units registered an increase over the previous year's performance, despite con- straints of power. Nevertheless, some of the units in Andhra Pradesh, Haryana and Uttar Pradesh suffered heavy losses due to uneconomic operations and posed a problem to the financial institutions.
During the year, Government announced ex- cise duty concessions for paper industry with a view to encouraging fresh investments in these indus- tries. Writing and printing paper manufactured by new large integrated pulp and paper mills, making paper out of bamboo and other wood pulp, which commence or have commenced production for the first time during the 1st April, 1979 to the 31st March, 1984, would be entitled to excise duty concessions to the extent of 50% of the rates of excise duty appli- The industries in the ferrous group under this head include iron and steel, C.I., S.G. and malleable iron castings, steel castings nd forgings, mini steel plants, rolling mills, C.I. spuh pipes, steel structurals fabrication, etc. IFCI's assistance to the industries under this group amounted to Rs, 76 -63 crores for 87 units covering units like 11SCO, TISCO and a number of mini steel plants as also forging and re- rolling units. By and large, the performance of these units was fairly better .compared to the previous
PART lit—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3475solution to their problems. The output of the textile machinery industry, however, showed an impressive rise of about 26% during the year, on an average, compared to the previous year. Likewise, machine tools industry also registered a growth of about 12% over the previous year.
Automobile Industry
year's performance, because of the measures taken by Government to give a boost to these industries. For instance, apart from the concessions given to the mini steel plants in the year 1979-80, Government gave fur- ther relief by allowing direct import various melting scrap by actual users and also sponge iron, wherever necessary. The sponge iron plant at Kothagudam in Andhra Pradesh also started production and the reports from the furnaces, which used the product were quite satisfactory. The excise duty relief on the products of electric arc furnaces through use of indigenously produced sponge iron was also given the same parity as on the products of electric arc furnaces melting scrap/imported sponge iron. Excepting the tin plate units amongst IFC1 assisted concerns, the units manufacturing steel strips, ferro alloys, steel wires and astings, etc. fared quite well and were generally able to meet their commitments during the course of the year.
Industrial Machinery
There are 43 units manufacturing various types of vehicles and 18 units manufacturing agricultural tractors and power tillers in the country. The entire industry is divided into various sectors e.g. commercial vehicles, passenger cars, jeeps, motor- cycles, scooters, three-wheelers, mopeds, etc. be- sides agricultural tractors and power tillers. Ex- cepting power tillers, the production during the year 1980 showed a marked improvement in almost all categories of vehicles; the biggest increase being in the moped and two-wheelers and the marginal ncrcase being in the passenger cars. Despite the increase in the production, because of the increased cost of various inputs, the industry did not yield satis- factory financial results. Scooter units assisted by IFC1 continued to be in the red and so also the power tiller units. The tractor units continued to face the marketing problem due to increase in their prices. It was only the mopeds, which maintained the steady trend of production, coupled' with an increase in their demand.
5. Progrerss of Repayments
The major units assisted by 1FCT under this head are textile machinery, sugar machinery, cement machinery, paper machinery and other miscella- neous items like tools, gears, rollers, bearings, etc. Upto the 30th June, 1981, 1FCT had sanctioned assistance of the order of Rs. 54 -47 crorcs to 83 units. The performance of assisted units, which were in operation, was of a mixed nature. While some of the units showed satisfactory results, in other cases, the results were disappointing, mainly due to labour unrest, power shortage, management problems, hike in raw material prices, in addition- to the lack of market lor some of the products. A few units in the eastern region as also in Maharashtra remained closed and the efforts were afoot to find a
Table 8 Recovery of Interest
Year ended June 30
Loans out standing allhe beginning of the year
Arrears of interest outstanding at the beginning' of the year
1977 1978 1979 1980 1981
244 '57 284 -70 328 -30 370 -67 441 07
10 '66 1211 15 06 15-32 18'75 Tables 8 and 9 below show the amounts which were due by way of interest on loans and instal- ments of principal and the amounts that were realised during each of the last five years. They also show the amounts in default at the end of each of those years.
(RB. Crores)
Defaults of interest
at the Total of columns 3 &4
Amount of interest duo during the year
end of the year*
Amount of interest received during the year
21-30 25-83 31 -55 36 16 47-95
3 1% 37-94 46-61 51-48 66-70
18 17 20-82 26-14 29-42 40'12
12-11 15 06 15-32 38-75 18-29
•Excluding amounts for which extension of time was granted; such cases have not been treated as defaults.
Table 9 Repayment of Principal
Arrears Year ended June 30
of principal outstanding at the beginning of the year
Loans out- standing at the beginning of the year*
1977 1978 1979 1980 1981*** -
244 -57 284 -70 328 -30 . ' . 370 -67 441 07
11 -37 14-70 21 15 25 -30 32 -79
(Rs. Crores)
Total
Amount
of columns 3 &4
of principal due during the year
Amount of principal received during the year.
Defaults of principal outstanding at the end of the year.**
24-39 25-32 29-87 36-84 45 01
35-76 40-02 51 02 62-14 77-80
18-54 18-28 21 -85 22-65 34-95
14-70 21-15 25-30 32 -79 37-37
•Excluding amounts due on account of defaulted deferred payment instalments guaranteed and met by the Corporation and
Interest due thereon which arc shown separately in Table 10.
••Excluding amounts for which extension of tune was, granted, such cases have not been treated as defaults.
•••The foreign currency loans have been converted into T.T, selling rates prevailing on the 30th June, 1981.
3476 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4Table 10 indicates the position of defaults in the payment of instalments of deferred guaranteed and met by IFCI and interest and other changes duo thereon for each of the last five years.
Table 10
Arrears Outstanding in respect of Deferred Payments Goran teed by the Corporation
Year e n d ed J u ne 30
Amount of arrears due to the beginning of the year
(1)
(2)
1 9 77 1 9 78 . . .. 1 9 79 . . .. 1 9 80 . . .. 1 9 81
1 -21 1-38 1 64 1-78 1 -68
It would be observed from abovo the that the interest in default of Rs. 18 '29 crores as on the 30th June, 1981 formed 3-4% of the outstanding loans, both rupee and foreign currency, of Rs. 548-01 crores as against 4-2% in the previous year. The above mentioned amount of Rs. IS -29 crores does not, however, include the amount of further defaults committed during the year by some of the assisted concerns whose credit record has been very unsatisfactory, as mentioned in the notes forming part of the accounts. Further, prin- cipal amount of Rs. 37 -37 crores in default was 6 '8 % of the outstanding loans viz., Rs. 548 -01 crores as againt 7 -4% in the previous year.
(Rs. Crores)
Total
Defaults during the year
Recoveries during the year
Amount of arrears outstanding at the end of the year
(3s
(4)
(6)
(5)
0 26 0'36 0-21 0 06 0'09
1-38 1-64 1-78 1 68 1-77 J 47 1-74 1-85 1-84 1-77
0 09 0 10 0 07 0'16 —
considered that the persistent follow up and closer monitoring of their accounts could be fruitful in remedying the situation.
Rehabilitation Assistance
During the year under report, TFCI continued to play an active role in the intensive monitoring of the assisted sick units and their rehabilitation.
Overall Position of Recoveries
During the year, as a result of vigorous efforts made by IFCI, there was improvement in the re- covery percentage of interest and principal by 3 % and 8 -5 % respectively. Taking both the principal and interest amounts totalling Rs. 666 -91 crores that fell due for payment/repayment during the entire thirty-three years' period, i.e., 1948-81, the cumu- lative loans recovery ratio worked out to about 88 -8 % after adjusting the effect of rescheduling of over- due payments both on account of interest and prin- cipal.
Rehabilitation schemes were drawn up for po- tentially viable units in such a way that with the grant of certain reliefs and concessions they might turn the corner within a reasonable period and be able to service debts on normal terms. In these tasks IFCI sought the help and co-operation of other participating institutions and commercial banks besides the Central and state Governments in appro- priate cases.
Pursuant to the rehabilitation plans evolved by the institutions, one scooter manufacturing unit improved its performance and the propos- als of merger of two scooter units with healthy units have been approved by the institutions and further legal steps are under way to formalise the arrange- ments. In the case of one of the largest scooter units in which Central Government, has a fairly large stake, financial restructuring is, under consideration of Government.
Industry-wise analysis of defaults
The industry-wise break-up of defaults as on the 30th June, 1981 along with the comparative fig- ures in the previous year is given in Appcndix-N.
A significant feature during the year was that the number of concerns in default as on the 30th June, 1981 came down to 258 as compared to the figures of 296 as on the 30th June, 1980. The amount in default formed 10 -2% of the total outstandings, compared to 11 •&"„ in the previous year. It may further be added that as on the 30th June, 1981, though 258 concerns were in default as against 755 total number of concersn in respect of which loans were outstanding, the difficult cases [excluding the cases of concerns nationalised or taken over under Industries (Development & Regulation) Act] in which substantial re-oganization and/or re-structuring inter alia was considered necessary, were 37. In respect of the remaining concerns in default it was In the last year's report, it was stated that a unit manufacturing electric bulbs, tube lights, etc., was successfully rehabilitated by inducting profes- sional management. During the year, the unit did exceedingly well and not only it cleared the entire overdue interest and a major portion of the over- due principal, but attained the position to repay the outstanding loans even over a shorter perid. It was also stated in the last Year's Report that to sick units in the electrical industry had been reha- bilitated by way of merger with healthy units. During the year, one of the units started meeting its commitments in respect of its overdues and the other unit also improved its performance substantially and started meeting its commitments. All the above units are now embarking upon modernisation/ex- pabion programmes.
The merger of a unit engaged in the manufacture of the radio, transistors, and electronic equipment
PART HI—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3477with a healthy unit was approved by the High Court during the year and in this case the repayment of dues is expected to commence after the amalgamated con- cern starts getting tax benefits under section 72-A of the Income Tax Act, 1961.
Of the two units engaged in mining, rehabi- litation plan was evolved during the year in the case of one engaged in copper mining. The second unit was taken over by the Government of India and merged with the Sieel Authority of India Limited (SAIL). IFCI is in touch with SAIL regarding recovery of its dues in the other unit.
Assistance has been sanctioned by the Insti- tutions jointly to rehabilitate a unit in the East- ern Region engaged in the manuacture of steel castings which had been lying closed for the last thirteen years. Another units of steel castings in the Northern Region is also being rehabilitated by change of --•-,- >• •-'', ''.lling interest. One unit engaged r- .•*' .• " . .. ,• of tin plates is on the threshold of being rehabilitated by drawing upon • the expertise of a large unit in the same area. A unit dealing in the manufacture of grinding media was rehabilitated during the year by merger with a healthy unit.
A unit in the joint sector engaged in the manu- facture'of tubular poles, whose commissioning was delayed for long is being rehabilitated by change of management. Efforts are on the way to reha- bilitate a dry cell battery maufacturing unit by change of the management.
During the year, a unit engaged in the manu- facture of power tillers showed considerable im- provement. As a result, IFCI was able to realise from it major portion of its overdue interest, apart from the current dues.
Sale of assets in three out of four units for which Receivers had been appointed earlier under Section 30 of the IFC Act, 1948 has since been completed. In the case of the fourth unit, offers received by the Court duringthe year were very much below the valuation of the assets and, therefore the Court is being requested.to order for a re-advertisement.
In the case of textiles units, a number of con- cerns were able to turn the corner due to the im- proved profitability of the industry as a whole for most part of the year. However, in respect of the textile units in the co-operative sector, where not much improvement was noticed, efforts were made to use the good offices of the concerned State Governments for clearance of defaults.
In the case of ailing units in the sugar indus- try, the units continued to be affected by the shortage of sugarcane. However, pursuant to the imple- mentation of the rehabilitation plans in the case of four sugar units, recovery of the past dues was made in two cases fully and in the remaining two cases partly. Due to improvement in the free sale sugar prices certain other units also started clearing the overdues of the institutions.
Under the chemical group of industries, a
State Government unit engaged in the manufac - ture of caustic soda, liquid chlorine, hydrochloric acid, etc., improved its performance during the year and started clearing interest amount in dsfdult to the institutions. Another unit manufacturing glass bottles showed improved performance and started paying its dues.
la the previous year's Repofi., it was stated that the nmagjmsit of a pajs- uut cigaged in the maiufdotiKe of gbr> coated paps* was traisfcvei to aiothsr well established unit, pending impb- msatation of the merger programme. During the year, the High Court approved the merger of the unit aid the defaults of the institutions are expected to be cleaned shortly. Daring the year, two other paper units Iran into difficulties leading to their closure. Endeavours are being made to rehabilitate the units.
One unit engaged in the manufacture of rubber chemicals based on foreign technology was merged with a healthy concern of the a large group with the approval of the High Court. As per the ap- proved scheme, the concessions and reliefs granted by the institutions would stand withdrawn and IFCI would be getting repayment of its dues as per the original agreement.
During the year, two units, one manufacturing pharmaceutical products and the other bicycles— both located in the Eastern Region—were nation- alized. The compensation amounts provided under the respective Acts might not be adequate to meet the dues of IFCI, IFCI has filed its claims before the Commissioners of Payments in both the cases.
Amongst the hotel units, a hotel in Himachal Pradesh which had been lying closed, resumed operations during the year with the induction of a new group of promoters. As a result, IFCI was able to recover a part of its dues. Efforts are being made to rehabilitate another hotel in Bihar by leasing out the hotel property to an establi- lished concern and utilising majaor portion of the lease rent towards repayment of the dues. A hotel project in Madras, which had been lying in- complete for the last six years was also rehabili- tated during the year by interesting a new group of promoters in it. The hotel has since been partly completed and has started operations.
In the case of units where it was considered that intensive monitoring together with certain corrective steps might be useful in having the dues of the institutions realised, the monitoring and follow-up were intensified. The intensity and periodicity of the reports from such units by way of progress reports, inspection reports, nominee direc- tors' reports, etc., were also increased.
The Board of Directors also continued to re- view periodically the recovery position, the pro- blem cases, and the measures for the rehabilita- tion and revival of individual units,. Wherever necessary, mentoring of such units was further ensured through the appointment of concurrent auditors, Finance Directors, strengthening of the organisational set-ups, constitution of Manage- ment Committee with a view to introducing the process of collective decision making as also through the appointment of consultancy organi- sations in cases where the weak areas in the assisted
3478 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PAI^T III—SEC. 4projects happened to be those of technical marketing, quality consciousness, etc. Where all other avenues had failed and legal action had been nstrtuted in terms of the provisions of IFC Act, or otherwise the legal proceedings continued to be pursued and in these cases, as adverted to earhor, sale of mortgaged assets was completed under orders of the court.
6 RESOURCES AND FINANCIAL MANAGEMENT The aforesaid reserves exceeded the paid-up
capital by Rs. 22 63 crores.
Bond Issues
With a view to augmenting its resources as also redeeming its 5-£% Bonds, 1980, for Rs. 8 -33 crores, IFCI made, during the year, two pub- lic issues of bonds, viz., 6-75% Bonds 1992 (2nd series) for Rs. 36 -00 crores made on the 10th December 1980, and 7-25°^ Bonds 1996 for Rs 21-75 crores made on the 10th June 1981. Both the issues were fully subscribed Including tho permissibe 10 per cent amount of the issue, the total amount of the bonds allotted aggregated Rs. 63 -52 crores.
As on the 30th June, 1981 tho not outstanding amount of the bond issues was Rs. 433 -47 crores.
Borrowings from IDBI
The resources of 1FCI comprise its share capital, reserves, borrowings from the market by issue of bonds, loans from the Industrial Develop- ment Bank of India (IDB1) and Central Govern- ment, foreign credits secured from foreign financial institutions, recoveries in respect of loans ad- vanced and salo redemption of investments held by it. Development in the resources position of IFCI during the year under report are given in the following paragraphs.
Share Capital
There was no change in the authorised capital of IFCI which remained at Rs. 20 crores. How- ever, with the issue of 5,000 (sixth series) shares of Rs. 5,000/- each on the 2nd February, 1981, the issued, subscribed and paid-up Capital of IFCI went up from Rs. 15 crores to Rs 17-50 crores.
The distribution of paid-up share capital as on the 30th June 1981 amongst of the four classes of shareholders of IFCI was as under
Class of shareholders
During the year, a sum of Rs. 20 -00 crores was raised from the Industrial Development Bank of India (IDBI) by tho issue of 7 -5 % Ad-hoc Bonds for the purpose of financing the cases under the Soft Loans Scheme, With tins, the total borrow- ings from IDBI upto the 30th June, 1981, aggregated Rs. 45 -00 crores. After accounting for the re- payments made to IDBI of the order of Rs. 2 00 crores upto the 30th June, 1981, tho net outstanding amount under this head stood at Rs. 43 -00 crore is as on the 30th June, 1981.
Borrowings from the Central Government
N o. Of Shares held
Paid-up value (Rs. Crores)
Percen- tage to tho total
50
17,500 7,067 7,501 2,932
20 22 8 IDBI Scheduled Banks Insurance Conterns, etc. Co-operative Banks
8-75 3 53 3 75 1 47
35,000
TOTAL
17 50
100
Reserves
With the transfer of Rs. 7 -25 crores out of the prohts tor the year ended the 30th June, 1981, and with the net increase in the Specific Grant from Government of India to the extent of Rs. 0-31 crore, the reserves of IFCI increased from Rs. 32-77 crores to Rs. 40-13 crores, after making adjustments under the Benevolent Re- serve Fund (BRF) to the extent of Rs. 0 -20 crore being utilisation of the fund during the year. The break-up of the reserves as on the 30th June, 1981, was as under :
As on the 30th June, 1980, the total loans Outstanding from the Central Government were of the order of Rs. 29 -04 crores. During the year, while no further loan was obtained from the Central Government, a sum of Rs. 15-89 crores was repaid to the Government leaving Rs. 13 -15 crores only as outstanding balance on the 30th June, 1981.
Insofar as the loan portion under the Interest Differential Funds (IDF) arising out of KWF lines of credit is concerned, during the year, a sum of Rs. 0 -71 crore was obtained form the Central Government and a sum of Rs. 0 -06 crore was repaid under this account. Thus the total loan portion of IDF payable to Central Government aggregated Rs. 3 -69 crores as on the 30th June, 1981, as against Rs, 3 *04 croros as on tho 30th June, 1980.
Borrowings in Foreign Currencies and Foreign
Exchange Resources
Reserves
Amount
(Rs> Crores)
18 19 1 00
0 66 General Reserve Fund (Under ScUion 32 of the IFC Act) Reserve Fund (Under Section 32A of the IFC Act) Benevolent Reserve Fund . (Under Section 32B ol the IFC Act) Special Reserve (Under Section 36(1)(vln) of tho Income Tax Act, 1961) Specific Grant from Government of India
19 38 0 90
Total Reserves :
40 13 IFCFs borrowings in foreign currency pre- sently are in DM against fines of Credit sanc- tioned by Kredtranstalt fur wiedcraufbau (KFW) West Germany, and in Froncfi Francs against the equipment fine of credit sanctioned by Banque Fra- ncaise du Commerce Exteneur (BFCE), France.
Under DM fine* of Credit, a further loan of DM 15 -00 million being the mueteenth line of credit was allocated to IFCI during the year under report. With this allocation, the total amount of DM credit aggregated 227 -50 million, against
PAST HI—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3 479which sub-loans totalling DM 217 million had been sanctioned by TFC1 upto the 30th June, 1981. DM lines of credit are fully convertible and can be utilised for the import of capital goods, engineering know-how, services, etc.
Government have permitted IFCI to convert tho amounts recovered from tho DM sub-borrowers into foreign currency and utilise the same pending repayment to KFW, West Gremany, for financing imports by industrial concerns. Under this scheme of DM Revolving Funds, sub-loans for DM upto 32 million had been sanctioned upto the 30th June, 1981.
further allocation was made during the year and the total amount of the allocations continued to be £ 9 -5 million as reported last year, against which sub-loans for an aggregate amount of £ 7 -00 million had been sanctioned up to the end of the year.
Since the assistance under the Swedish Kroner and £ Sterling, is in effect, a 'convertibility' facility of rupee loans (inasmuch as IFCI under the arrangements is expected to provide only rupee funds for making payments in foreign currency abroad), sub-loans against these allocation are being financed out of the rupee resources of IFCI.
Repayments of the Loans by the Borrowers and Sale/
Redemption of Securities.
As on the 30th June, 1980, the outstanding balance of the aforesaid foreign lines of credit availed of by IFCT was Rs. 21 -96 crores at erstwhile parity rate of exchange. At T.T. Selling rates ruling on the 30th June, 1981 these borrowings amounted to Rs. 39 -32 crores. During tho year under report, a sum equivalent to Rs. 5 -31 crores was availed of and an amount equivalent to Rs. 2-25 cror^s (R 2-12 crores at T.T. Selling rates ruling on the 30t'- June, 1981) was repaid, with the result that the outstanding amount against borrow- ings in foreign currency as on the 30th June, 1981, stood at Rs. 42 -51 crores on the basis of T.T. Selling rates ruling as on the 30th June, 1981.
Apart from the capital & reserves and the borrow ings, the major sources on which IFCI has to count for financing its operatins, are the repayments made by the borrowers towards loans and/or guarantee obligations, redemption of securities by them and sale of scripts held by IFCI in its invest- ment portfolio. During the year under report, tho total receipts on accont of the above aggregated Rs. 35-57 crores and constituted 19-3% of the totai resources of IFCI for 1980—81.
Resource Planning
The equipment line of BFCF credit allotted to IFCI was 15 Million French Francs. This stood fully committed.
In addition to the above, IFCI has been allo- cated by Government of India facilities under Indo- Swedish Development Co-operation Agreement and U.K./ India Capital Investments Loans/Grants.
During the year under report, two further allo-
• cations of Swedish Kroncrs 50 million each wero made available by the Government of India under the Indo-Swedish Development Co-operation Agreement, 1979. With these allocations, the total amount of Swedish Kroner facilities made avail- able to IFCI agregatod Sw. Kr. 175 million, against which sub-loans of the order of Sw. KJ". 124 /nillion had been sanctioned till the 30th June, 1981. Sw. Kr. allocations are also fully convertible and can be utilised for th i ort of capital goods and ser- vices.
Insofar as allocations under U.K./India Capit- al Investments Loans/Grants are concerned, no
Table 11 Sources and Uses of funds
A. SOURCES OF FUNDS :
Internal Sources
On the 30th June, 1981, the outstanding com- mitments against loan assistance sanctioned and to be met by IFCT, were of the order of Rs. 322 -69 crores. Financial institutions have necessarily to make a judicious application of the resources planned, within the over all constraints of domestic savings, Five Year Plan allocations to other sectors and limits for public borrowings. However, IFCI is confident of meetings its outstanding commitments and commit- ments against new proposals which would materialise during the coming year. IFCI is constantly in touch with the Planning Commission and other concerned authorities in this regard.
Sources and Uses of Funds
Table 11 gives a break-up of sources and uses of funds for the three years, viz., 1978—79, 1979— 80 & 1980—81 as also cumulative figures for the period from 1948 to 1981 (July—June) ;
(Rs. Crores) 1948—81
1979-80
1978-79
1980-81
17-50 104-38 296 02 18-36
2-50 12-94 34-95 0-62
4.99.* 2 '50* 8 07 24-82 0 45 0 07
1. Share capital 2. Profit before tax 3. Repayment of loans by borrowers 4. Sale/redemption of investment 5. Recoveries in respect of amounts met under guarantee obligations
Sub-totaJ :
2'50 10-18 25-84 0-45 0 16
51-01 (27 -7)
35-91 (32-1)
39 13 (23.6)
441-25 (36 6)
•Share application money in respect of the additional issue of share capital for Rs. 5 00 crpres,
• •Does not include Rs. 2,66 crores converted into loans and R. 1 -22 crores converted into equity shares which were disposed
of under rehabilitation schemes in respect of two concerns.
3480 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PA^T m —S I C. 4T a b le 11 ( C o n t d .)
( R s. C r o r e s)
1979-80
1948—81
1980-81
1978-79
B o w r r o w i n gs
113-50 0-74
35 02 0-62 15 00
63 52 0 71 20-00 6. F r om t he m a r k et by i s s ue of b o n ds . . . . . .. 7. F r om C e n t r al G o v e r n m e nt . . . . . . . .. 8. F r om I n d u s t r i al D e v e l o p m e nt B a nk of I n d ia 9. By w ay of t r a n s f er or r i g h ts a nd i n t e r e s ts a nd c e r t a in l o a ns
_
497 -46 116-35 45 00 9-98
JO. From foreign credit institutions
3-58
2 11
23-50 66-85
5-31 (a) Loan in US $ from 1SATD (b) Loans in DM from Krcditanstalt fur Wledcraufbftu.Wcst Germany (c) Equipment credit in FF from Banqul Francaisc Du Commerce Exterieur,
2 30 Paris
—
—
—
Sub-total
116-35 (70 1)
89-54 (48 -7)
54-22 (48 -5)
761 -44 (63 -1)
1 1, Specific G r a nt f r om G o v e r n m e nt
0-62 (0-3)
3-80 (0-3)
0-74 (0-4)
12. N et m i s c e l l a n e o us sources . . . . . . . ..
0 71 (0-4) 1-88
( -)
13. O p e n i ng c a sh a nd b a nk b a l a n c es
(-721 01
(18 -9)
9-87 (5 9)
(10) 40-84 (22-2)
( -)
S O U R C ES OF F U N DS : T O T AL
183-98 (100 0)
111 85 (100 0)
166 09 (100 0)
1206 -49 (100 0)
B. U S ES OF F U N DS :
1. D i s b u r s e m e nt of asssitance
62 '66 5-82
698-61 122-22
82-78 9-56
103 -66 19-28 (a) R u p ee l o a ns (b) F o r e i gn c u r r e n cy s u b - l o a ns (c) S u b s c r i p t i on ot shares a nd d e b e n t u r es of i n d u s t r i al concerns u n d er
u n d e r w r i t i ng obligations e t c. . .. . . . ..
( d) A m o u n ts m et u n d er g u a r a n t ee o b l i g a t i o ns
3-15 0 10
2-24 —
2 14 —
45-26 1016
S u b - t o t al :
94-58 (56-9)
71-73 (64 1)
127-05 (69 1)
876 -25 (72-6)
1 22
2. L o an a m o u n ts converted i n to e q u i ty shares of assisted c o n c e n is
1 1)
0-93 (0-6)
5-98 (0-5)
1 98 (11)
R e p a y m e nt of b o r r o w i n gs
3. R e d e m p t i on of b o n ds 4. R e p a y m e nt of loans to C e n t r al G o v e r n m e nt 5. R e p a y m e nt of l o a ns to foreign credit i n s t i t u t i o ns . . . .. 6. R e p a y m e nt of o t h er b o r r o w i n gs
( 6-13 7-55 3-54 2 12
8-25 6-58 3-72 1-56
8-33 15-95 2-31 0 92
63-99 99-31 45-17* 11-82
S u b - t o t al :
19 34 (71 -3)
20-11 (121)
27-51 (14-9)
220 -49 (18 -3)
O t h er uses
7. S u b s c r i p t i on to s h a re c a p i t a l / i n i t i al c a p i t al of financial/developmental Instl-
A ,AQ \> UJJ
t u t i os . . . . . . . . . . .. 8, A l l o c a t i o ns to M a n a g e m e nt D e v e l o p m e nt I n s t i t u te . . .. 9, A l l o c a t i o ns to R i sk C a p i t al F o u n d a t i on
®@46-61
0-38 0 13 4-56 1 12
0 03 0-78 0-93 5 39 0-94 1-56
10, P r o v i s i on f or I n c o me T ax . . . . . . . .. 11. Dividend 12, Net miscellaneous user
n 'id 0 74 0-43 3-53 0-65 3-98
10-62 18 17
Sub-total :
9-63 (5-8)
6-28 (3 4)
82-61 (6-8)
9-69 (8-7)
13. Closing cash and bank balances
40-84 (24-6)
9-87 (8-8)
21-16 (11 '5)
21 16 (1-8)
USES OF FUNDS : TOTAL
166 09 (100 0)
1206-49 (100 0)
111-85 (100 0)
183 -98 (100 0)
@Out of interest Differential Funds in terms KFW loan agreements.
Note : Figures in brackets indicate percentages to total.
•The repayment of loans to foreign credit institutions at T.T. Selling rates prevailing as on the 30th June, 1981 amounted to Rs.49 -95 crores,
@@Includes Income Tax to the extent of Rs. 42 -88 crores actually paid.
Note : 1. The disbursement of foreign currency sb-Ioans as also borrowings from foreign credit institutions are shown at T,T, Selling
rates prevailing as on the 30th June, 1981.
2, Figures in bracket indicate percentage to the total,
PART" III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3481New Accounting System
The Board of Directors in July, 1978, ' had appointed M/s. S. B. Billimoria &Co.. Chartered Accountants, to study the systems, procedures, forms and organisation of IPO's accounting functions with a view to providing better organi- sational efficiency, management information, effec- tive financial and loan accounting system, cor- porate budgetary control, etc. On the basis of the report and recommendations of M/s. S. B. Billimoria & Co,, Chartered Accountants, as also the Accounting Manual designed by them, a 'New Accounting System' was introduced in 1FCT with effect from the 1st July, 1980. The emphasis in the new system is on maintenance of the requisite statutory accounting record and internal control over assets aud liabilities, in- come and expenditure as also to provide infor- mation to the management for planning and con- trolling the operations of IFCl on a commercially viable basis. The system also provides the flexibility for a change-over to the mechanised accounting system as and when considered necessary. The new system, as introduced, is functioning very well.
Audit
Apart from the internal audit system in force, the statutory audit of accounts of IFCI is being carried out by two auditors, of whom one is nomi- nated by TDBT and the other one elected by share- holders other than IDBT at the annual general meeting of the shareholders. During the year under report, M/s. B. L. Ajmera & Co., Jaipur were appointed as auditors by the TDBT for the year ended the 30th June, 1981. The shareholders of IFCT, other than IDBT, had elected at the last Annual General Meeting held on the 30th September, 1980. M/s Ray & Ray, Calcutta, as auditors for the same period. The audit report of the auditors for the year 1980-81 is attached with the Accounts for the year in this Report.
7. PROMOTIONAL ACTIVITIES
IFCI's Development Role
Through a number of specialised agencies set up by it, either on its own, or jointly with other financial institutions, TFCT has endeavoured to fill in gaps, in the institutional infrastructure for promotion of industries and for providing the much- needed guidance in project identification, formu- lation, implementation and operation, etc., to the new, small and medium scale industrial entre- preneurs.
IFCI's promotional role gained new dimen- sions when IFC Act, 1948, was amended in 1972 providing for creation of a Benevolent Reserve Fund (BRF) for undertaking various promotional activities as a development b"nk. The promo- tional and social objectives for which the BRF could be utilised included such activities as (a) meeting the cost of feasibility studies, project reports, market and techno-economic surveys, (b) assisting projects promoted by new entrepreneurs and tech- nologists, (c) promoting research in financial and industrial management by creation of chairs in
]9—369GI/81
Universities and other academic institutions, (d) meeting the co^t of training of pcisonnei of the financial institutions etc.
Since the creation of the BRF in 1972, u sum of Rs. 2 '67 crores had been transferred to it out of the profits of IFCI, and, with a further alloca- tion of Rs. 0 -25 crore from the profits for the year 1980-81, the total amount transferred to BRF as on the 30th Juue, 1981, amounted to Rs. 2 -92 crores. As against this, a sum of Rs. 2 -26 crores had been utilised on various promotional activities of IFCI.
Another source for financing the promotion- al activities of TFCI is the Interest Differential Funds (IDFs) received from the Government of India out of the interest payable by IFCI on KFW Loans in terms of agreements entered into between IFCI, the Kreditanstalt-fur-Wiederaufbau (KFW) West Germany, and the Governments of India and Federal Republic of Germany in connection with the DM lines of credit made available to TFCI by KFW. These funds are being received from Government in the form of loans and grants on a SO : 50 basis.
Upto the 30th June, 1981, IFCI had received a sum of Rs. 3 -80 crores by way of loans and an equal amount by way of grants under the Interest Differential Funds. Against the total allocation of Rs, 7 -60 crores, a sum of Rs. 5 -25 crores had been utilised on the promotional activities upto the 30th June, 1981.
A Statement showing the utilisation of BRF and TDFs during the year i/nd cumulative upto the 30th June, 1981, is given vide Appendix-O.
Promotional (Technical Assistance) Schemes
As reporter1 last year, TFCT, on its own, has been operating the following four Schemes from the dates mentioned against each :
(A) Scheme of Assistance to New Entre- preneurs—Subsidy for meeting cost of market studies (30-11-1977);
(B) Scheme for Encouraging Adoption of In-
digenous Technology (30-11-1977);
(C) Scheme of Assistance for Small Entrep-
reneurs (1-7-1978) ; and
(D) Scheme for Promotion of Ancillary and
Small Scale Industries (1-9-1978).
Assistance under the aforesaid Schemes is in the nature of providing subsidy to entrepreneurs. The subsidy under the last two Schemes viz., (C) and (D) is being channelised through the Specified Agencies, which include Technical Consultancy Organisations (TCOs) sponsored by the all-India financial institutions.
During the year under report, while there was no utilisation of facilities available under the first two Schemes, the last two Schemes, which help entrepreneurs to utilise the services offered by Technical Consultancy Organisations (TCOs), specially in matters relating to the preparation of pre-feasibility/feasibility studies, detailed pro- ject reports market studies for their proposed
3482 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) |PART III—SEC. 4units, >r, for identification of products suitable for ancillarisation, or, preparation of reports for setting up ancillary and ^mcll scale unit*, etc., com- manded wider utilisation and popularity with the TCOs, bencfitti^g, thereby, during the short spon of their operation, a number of entrepreneurs.
Under the Scheme of Assistance to Small Entre- preneurs, the cost of each assignment taken up by TCOs is subsidised by JFCI to the extent of 80% or Rs. 5,000/- whichever is lowei; the balance is to be met by the entrepreneurs themselves. Under the Scheme of Promotiou of Ancillary and Small Scale Industrie1!, reimbursement to TCOs and other Specified Agencies is made upto 75% of the cost of assignment as soon as the snme is completed and the balance 25% is paid on the fulfilment of two conditions i.e., (i) sanction of financial assis- tance by the State-level institution, or, a commercial bank for the ancillary project, and (ii) the execution of a minimum off-take agreement with the main unit. Subsidy to the TCOs under the aforesaid two Schemes in respect of assignments undertaken is available upto a limit of Rs. 1 -00 lakh peT annum, per TCO, for each individual scheme.
along with other financial institutions up to the 30th June, 1981, mention may be made of the Industrial Potential Surveys carried out by the Institutions, preparation of 17 feasibility report i 1 candidate projects identified in some of these surveys, and, printing of a Directory of the Industrial Consul- tants by the all-India financial institutions under the aegis of IDBI, techno-economic survey of Tamil Nadu carried out by Tata Economic Consultancy Services, techno-economic surveys of Bhagalpui district in Bihar and Purulia district in West Bengal, preparation of 100 project profiles by the West Berj- gal Consultancy Organisation Limited (WEBCON) in the small md medium scale sector fc 'down stream' units connected with the proposed Haldia Petro-Chemical Complex, studies relating to elec- tronics industry and mineral resources in Himachal Pradesh carried out by the Himachal Consultancy Organisation Limited (HIMCON), and, establish- ment of two functional industrial complexes, namely, Agro-products complex and Leather Complex in districts of Chindwara aud Dewas respectively in Madhya Piadesh by the Madhya Pradesh Con- sultancy Organisation Limited (MPCON).
The amount paid up to the 30th June, 1981, by IFCI against these assignments aggregated Rs. 0 -03 crore.
Technical Consultancy Organisations
During the year under review, a concession was given to TCOs under which, after they had completely utilised the subsidy under any one of the aforesaid, two Schemes, they could further utilise for the same Scheme 50% of the funds available for the other Scheme in a year, if such funds remained unutilised thereunder i.e., under the other Scheme.
Under the Scheme of Assistance to Small entre- preneurs, 1FCT had released upto the 30th June, 1981, a subsidy aggregating Rs. 0-16 crore bene- fitting 492 projects through 13 TCOs opeiating in the country. Of these, 129 projects related to the year 1980-81. Of the balance 363 projects sub- sidised cirlier 99 projects were reported to have been implemented anH 140 projects were stated to be under implementation as on the 30th June, 1981. Likewise, undor the Pomotion of Ancillary and Small Scale Industries Schenu,-, IFC1 had reimbursed an amount of Rs 0 -03 core to 6 Speci- fied Agencies benefiting 31 anc llary units. Of these, 9 projects related to the year 1980-81. Of the balance 22 projects, 18 projects were reported to have been implemented and 3 were stated to be under im- plementation as on the 30th June, 1981.
With a view to creating and strengthening the institutional infrastructure at the State-level, the all- India financial institutions have set up thirteen Technical Consultancy Organisations (TCOs) one each for North-Eastern Region, Keiala, Bihai, Uttai Piadesh, Andhra Pradesh, Orissa, Jammu & Kashmir, West Bengal/ Gujarat, Tamil Nadu, Himachal Pradesh, Rajasthan and, Madhya Pradesh.
Special Assignments
IFCT has also been shaiing, fiotn time to time, on a case to case basis, the consultancy cost of special assignments relating to the prefeasibility stu- dies, feasibility studies, project reports, market reports, techno-economic surveys, project profiles, etc., undertaken by the Consultancy Organisations and/or other Statelevel developmental agencies connected with the promotion of industrialisation in their respective areas, in participation with other institutions, where these are not covered by the exist- ing Promotional (Technical Assistance) Schemes of IFCI.
During the year, considerable stress was laid on impioving the capability and capacity of the TCOs with a view to taking up 'turn key' assign- ments, area and market studies, detailed engineeiingk monitoring, the rehabilitation programme^ for sick units, etc. Other important areas in which TCOs have ventured are : motivating and training of entrepieneurs, preparation of district action plans, integrated area development plans and providing comprehensive services fo. functional industrial com- plexes. Thus, during the year, there was a qualita- tive shift in the functioning of all TCOs, TFCI, in collaboration with IDBI and 1CICI, participated in various steps undertaken for strengthening of TCOs and increasing their overall effectiveness. These in- cluded augmenting their capital base, introducing a system of inter-TCO exchange of information and orientation of skills particularly for the benefit of tiny and small scale units.
While IFCI has participated in the formation of all existing TCOs, the review of the operations of three TCOs which have been sponsoied by it and where it holds moie than 51 % of their share capital is discussed in the following paragraphs.
(A) Himachal Consultancy Organisation Ltd. (HIM-
CON)
Of the special assignments, consultancy costs of which had been shared by TFCI on an agreed basis During the year ended the 31st December, 1980, which was the forth year of its operations,
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3483For the year ended the 31st December, 1980, RAJCON earned an income of Rs. 4 -62 lakhs against the expenditure of Rs. 4-40 lakhs, which resulted in a gross profit of Rs. 0 -22 lakh.
(C) Madhya Pradesh Consultancy Organisation Ltd.
(MPCON)
HIMCON completed 103 assignments, of which 79 related to the preparation of the prefeasibility studies and feasibility studies, 10 related to studies in respect of ancillary industries one related to a market survey and the remaining 13 included fact finding studies, raw material surveys, etc. During the year under review, HIMCON set up a "Survey & Study Cell" foi canying out market suiveys, sectoral studies, industrial development plans and other special inter-disciplinavy studies in rcponsc to the demands of the State-level institutions and entrepreneur. Amongst the special assignments handeld by HIMCON during the year were (a) studies relating to the preparation of an inte-grated industrial development plan for Kangra District, (b) study relating to the scope and development of elcdronics industry in Himachal Pradesh, (c) study of mineral resources of Himachal Pradesh and identification of industries based on these re- sources, (d) a cost-benefit study of Parwanoo Indus- trial Area in order to assess the impact of indus- trialisation on the economy of the State at the ins- tance of the State Government. IDB1, during the year assigned to HIMCON studies relating to the peiformanco of 'Jead' banks in the districts of Patial in Punjab and Kangra in Himachal Pradesh.
Dring the year under review* HIMCON opened a Branch Office in Chandigarh which commenced functioning from the 22nd August, 1980. The Chandigarh Office is expected to render consultancy services to the prospective entrepreneurs in Chandi- gah, Punjab and Haryanu.
HIMCON also carried out, in collaboration with the Directorate of Industries, Himachal Pradesh and Developent Banking Centre of MDI, new Delhi, an Entrepreneurial Development Programme and continued to the maintain follow-up with regard to the earlier programmes conducted by it.
lor the year ended the 31st December, 1980, HIMCON earned an income or Rs. 5 -77 lakhs and incurred an expenditure of Rs. 5 '64 lakhs result- ing in a gross profit or Rs. 0 -13 lakh.
In the short span of about two years ended the 31st December, 1980, MPCON geared itself to the consultancy needs of the State. Its services were commissioned by the Directorate of Industries, Government of Madhya Pradesh to identify pro- jects and provide consultancy services for setting up two functional industrial complexes, namely Agro- products Complex in district Chindwara and a Leather Complex in the district of Dewas. During the year 1980, MPCON completed 84 assign- ments, of which, 73 were project/feasibility reports. 4 market research studies and 2 cost-benefit analysis reports . The remaining assignments related to the detailed engineering, rehabih'taion and reconstruction, rural development, company formation and a 'sell or install' study relating to a fertiliser gra- nulation unit. Out of 84 completed assignments, 68 were in the tiny and small scale sector. An Entreprenurial Development Programme was also carried out by MPCON for the entrepreneurs setting up units in the functional leather complex.
During the year ended the 31st December, 1980, MPCO1S earned and income of Rs. 7-05 lakhs and incurred an expenditure of Rs. 6 -70 lakhs, with the resultant profit of Rs. 0 '35 lakh.
Steps were also undertaken to set up a TCO in Maharashtra known as the Maharashtra In- dustrial & Technical Consultancy Organisation Limited (M1TCON) withlCICIin the lead. 1FCI has agreed to participate in the share capital of MIT- CON as also to be.ir the current deficit, if any, in pro- portion to its shareholdings, for a maximum period of its first three completed years of operations.
Risk Capital Foundation
(B) Rajasthan Consultancy Organisation Ltd.
(RAJCON)
On the 31st December, 1980, RAICON com- pleted three years of its operations. During the year 1980, RAJCON completed 79 assignments, of which, 72 were for the projects in the tiny and small scale sector, two projects pertained to the meduim scale sector and 5 were in the filed of applied neconomic research, namely, industry study on non-pressure asbestos cement pipes and fittings in Rajasthan, impact study of industry on furthering the economic development of Alwar district, and, three studies peitaining to dyeing and printing in- dustry at Sanganer, hand-tools industry at NagauT and of Kota-Doria Sarees at Kaithoon.
RAJCON has also been retained by the State Government and three State-level financial and developmental institutions to conduct Entrepreneurial Development Programmes in Rajasthan in col- lobaration with the Centre for Entrepreneurial Deve- lopment (CED) of Gujarat.
With a view to providing assistance towards pro- moters' equity, IFCI filled in an important gap in the institutional financing infrastructre, when, in 1975, it sponsored the Risk Capital Foundation (RCF) at New Delhi.
RCF provides personal loans for meeting a part of the promoters" contribution to the equity of the projects which have been sanctioned financial assistance by one of the all-India term lending insti- tutions, viz., IFCI, TDBI or 1CICI, singly or jointly. No interest is charged on the loans but a nominal service charge is levied. The existing rates of service charges are 1 % per annum during the first 5 year of the period of the loan, 2 % per annum between 6th and 10th year and 3% beyond the 10th year of the period of the loan. In addition, a contingent ser- vice charge is levied at the rate of 40 % of the gross dividend on the equity shares acquired out of the loan from RCF and pledged with it as security for the loan.
The assistance granted by the RCF is normally limited to 50% of the promoters' contribution
34&4 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4by them along with other institutions, banks and State Governments.
Management Development Institute
to the equity of the project subject to an upper Limit in respect of a single project to Rs. 10 lakhs where there is only one borrower and to Rs. 15 lakhs where there are two or more borrowers. Any new entrepreneur or group of new entrepreneurs, technically, or, professionally qualified and having reasonable industrial or business experience pro- moting a public limited company in India for under- taking a meduim sized industrial project is eligible for financial assistance from the RCF.
The loan from the RCF is secured by pledge
of shareholding of the assisted 'promoter, or, pro- moter, group, in the project promoted by him or them, acquired out of his/their own resources as well out of the loan from RCF. RCF also re- quires a Mortagage Redemption Insurance Policy being taken by the beneficiary on his life for the full amount of the loan.
The cumulative sanctions of RCF as on the 30th June, 1981, stood at Rs. 2 54 crores to sixty beneficiaries in respect of thirty-five projets. The disbursements on the same date totalled Rs. 1 -73 orores in respect of forty four promoters of twenty seven projects.
During its financial year ended the 31st Decem- ber, 1980, RCF, for the first time, had a surplus of Rs. 1 -05 lakhs as a result of its operations. This brought down its accumulated deficit to Rs. 4 -02 lakh as on the 31st December, 1980.
The funds of the RCF, for the present, consist of loans and grants made available to it by IFC1 out of its Benevolent Reserve Fund and KFW Interest Differential Funds allocated by Govern- ment to IFC1. Upto the 30th June, 1981, TFCJ had allocated a sum of Rs. 2 -50 crores by way of loans, Rs. 0 '55 croie by way of grants and Rs. 0-11 crore towards RCF's. administrative expenses, making the total allocation to Rs. 3-16 crore. Against this, funds of the order of Rs. 2-17 crores had been re- leased to RCF upto the 30th June, 1981.
For developing and improving the quality of day-to-day management, which is so crucial to the success of any industrial venture as also with a view of encouraging professionalisation in manage- ment, 1FCI sponsored in 1973 the Management Development Institute (MDI) with the following objectives :
(a) to provide training in modern manage- ment techniques to the executive personnel of assisted concerns of IFC1 and other, particularly, to new entrepreneurs and tech- nologists;
(b) to impart training in development banking to the staff of promotional/financial insti- tutions and agencies at the State and all- -lndia levels and to offer these facilities to the staff of development banks abroad; and
(c) to undertake research in all areas of manage-
ment and development banking.
During its operational year ended the 31st Decem- ber, 1980, MDI organised 36 programmes for general participation, of which 11 were specific industry programmes. In the first half of 1981, MDI orga- nised 20 training programmes, including one in-com- pany programme. During the second half of 1981 MDI has scheduled to conduct 30 programmes, including 4 in-company programmes.
Development of Entrepreneurstaip and Managerial
Skills.
1FC1, as a development bank, has been attach- ing great imporlance not only to entrepreneurship development but also to the - up-gradation of mana- gerial skills as also professionalisation of manage- ments.
Amongst the programmes of considerable im- portance organised by MDI included an 'Integral programme in the field of Personnel Management on Training the Trainers1 in collaboration with the Royal Institute of Public Institution UK; a pro- gramme on 'Communication Effectiveness and Organisation Development' assisted by the Faculty of the University of Bath, UK; a programme on 'Financial Planning & Control in Public Sector Enterprises' organised jointly with the Bureau of Public Enterprises, Government of India; a pro- gramme on 'Identification, Promotion and Manage- ment of Agro-industries in the Co-operative Sector' exclusively for the State Cooperative Apex Banks and Marketing Federations: and a prcgianne on Housing Maiiagment in association with the Housi- ng and Urban Development Corporation Limited.
Development Banking Centre
Entrepreneurship development involves identi- fication of potential entrepreneurs, developing in them the traits/abilities required for entrepreneurial success and providig support to them in subsequent stages of cntreprise building. For this purpose, IFCl has been organising from time to time pro- grammes on identification, Promotion and Imple- mentation of Industrial Projects'(TP1IP) in various States. In April, 1980, an 1PJIP programme was conducted for Orissa' at Bhubaneswar. In the com- ing year a programme is proposed to be conducted for the North-Eastern Region. Apart from the IPIIP programmes, wherever required, IFCIis helping the Technical Consultancy organisations (TCOs) in different Slates by sharing the expenses of En- ircpvenaruiial Dcvelopmnil Programmes conducted With a view to encouraging training and research in the filed of 'Principles and Practice of Develop- ment Banking' in the country and abroad, MDI, with the active support of 1FC1, set up iu November, 1977, a Developmet Banking Centre (DBC) as it is semi-autonomous wing.
During its operational year ended the 31st
December, 1980, DBC conducted 19 programmes including three in-compny programmes, in which 491 participants hud taken part including 43 from abroad.
Tn the first half of 1981, DBC organised 10 pro- {riammes foi jtzeneru, 1 paiiLipation and one in-
PART lit—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 ,(AGRAHAYANA 21, 1903) 3485company programme. For the first time, DBC organised a programme on 'Economic Analysis of Industrial Projects'. For the second half of 1981, DBC has planned to conduct 7 training pro- gramme, of which 2 would he in-company program- mes.
One of the specialised programmes of DBC which is being conducted almost every year with a focus on a particular aspect of development bank- ing its "General Course on Development Banking". Tt has also conducted two programes on develop- ment banking sponsored by UNIDO exclusively for participants from developing countries. Amongst the other international programmes, specilic mention may be made of (i) an 'Executive Development of Middle-Level professionals in Development Banks' sponsored by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) assisted by the Economic Develop- ment Institute (EDD of the World Bank, United Nations Industrial Development Organisation (UNTDO) and the United Nations Development Programme (UNDP); and (ii) 'Promotion and Financing of Small scale Enterprises" organised jointly with the German Foundation for Interna- tional Development (DSE) and EDI of the World Bank.
the filed of development banking including in- dustrial economics, financial management, in- dustrial management, and regional economics. The tenure of the Fellowship is to be three years to be extended for a further period of one year. The Fellowship amount would be Rs. 1,000/- per month with an additional contingent grant of Rs. 2,000/- per annum subject to a ceiling of Rs. 14,000/- per year per fellowship.
Orientation Programmes and Assistance for State- level Institutions.
IFCI has been rendering assistance to the Slate- level institutions by inviting their professional strff to familiarise themselves with the policies and practices followed by TFCI and seconding its own, staff, wherever it has been so required. Since the incep- tion of lilt scheme, 123 middle level officers and 62 senior executives from about 39 State-level insti- tutions have beneiitted. During the year, it was agreed to review the Scheme so that it might be possible to share the experience of IFCI with a larger group of the StaLe level institutions including pro- motional agencies and Technical Consultancy Or- ganisations and also, in turn, to benelit from their experience. The new scheme is proposed to be drawn up shortly.
8. BOARD, ADMINISTRATION & PERSONNEL
Board of Directors
MDT and DBC have so far also undertaken eleven research projects in various fields, some of which have been completed. Amongst the important research studies, mention may be made of a study on 'Industrial Sickness' spon- sored by the Planning Commission, a 'study of Incidence of Sickness in Small Industrial Pro- jects', a study in 'Hotel Management involving Current Management Practices in Indian Hotels', a 'Study of Setting Up an Off-Shore Banking Centre for Financing Economic Development' as also a 'Study on Mational Agricultural Cooperative Marketing Federation of India Limited (NAFED)'.
Promotion of Research in the Field of Management
und Development Banking, etc.
WiLh a view to promoting research in develop- ment banking and in financial and industrial management IFCI has already created Chairsin the Indian Institute of Management, Ahmedabad and the Universities of Delhi, Bombay and Calcutta. The financial support to these Chairs has been by way of endowments/annual grants.
During the year under report, it was decided to establish to more Chairs, one each at the Uni- versities of Gauhati ^nd Madras, for which the steps are under way.
An important event during the year was a lecture on the 'Design and Development of Information Systmes for Dc\elopmcnt Banks—A Systems Ap- proach'—which was delivered in February, 1981 by the 1FCI Visaing Professor at the Faculty of Management Studies, University of Delhi.
TFCI lias also decided to institute four TFCT Research Fellowships. The Fellows selected on the basis of an interview on a region-wise basis would be requited to carry out research work in In terms of Section 10(1) (b) of the ]FC Act, 1948, the Central Government nominated with effect from the 22nd April, 1981, Shri R.K. Kaul, Additional Secretary, Department of Economic Affairs, Banking Division, as a Director in place of Shri N.R. Ranganathan, Further, Shri B. Roy, who was nominated by the Central Government as a Director from the llth April, 1980, resigned from the directorship of IFCI with effect from the 3rd July, 1981, consequent upon his appoint- ment as a Director, Public Enterprises Centre for Continuing Education. In his place, Shri S-L. Kapur, Joint Secretary, Ministry of Industry, De- partment of Industrial Development, has been nominated as a Director by the Central Govern- ment with effect from the 14th. August, 1981, under Section 10(1 )(b) of the 1FC Act.
The Industrial Development Bank of India (IDBI), in terms of Section 10(1) (aa) of the IFCI Act, 1948, nominated Dr. S.A. Dave, Executive Director, IDBI with effect from the 15th Novem- ber, 1980 and Shri K.P. Tripalhi, with effect from the 17th November, 1980, is in place of Shri M.R.B, Punja and Shri Bagaram Tulpule respectively.
Shri J.R. Joshi, one of the elected directors, who represented Insurance Concerns, Investment Trusts and other like financial institutions on the Board of Directors of FFCI. resigned with effect from (he 12lh August, 1980 and in his place, Shri S. Hariharan, Fxeeuthe Dircclor, Life Insurance Corporation of India, was elected as a Director under Section 10(l)(d) of the IFC Act, 1948, at the 32nd Annual General Meeiinji of the shareholders of IFCI held on the 301 li September, 1980, to fill up
3486 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) LPART 111—SEC. 4the casual vacancy caused by the resignation of Shri J.R. Joshi.
The Board of Director^ place on record tbeir high appreciation of the very valuable services rendered by Shri N.R. Ranganathan, Shri B. Roy, Shri M.R.B. Punja, Shri Bagaram Tulpule and Shri J. R.Joshi during the period t,f their association with 1FC1.
During the year, the Board held twelve meet-
ings—eleven in Mew Dellii and one at Bangalore.
Advisory Committees
The Advisory Committees constituted by the Board of Directors of IFCI under Section 15 of IFC Act, 1948, assist the Board of Directors in taking decisions on matters related to the sanction o(" financial assistance to the applicant concerns nnd advising, otherwise, on the technical and other pro- blems faced by the assisted concerns during the course of their operation as and when brought before them.
During the year, 25 meetings of the various
Advisory Committees were held as under :
Name of the Advisory Committee
Number of meetings held
5
. ..
3 8 5 Chemicals Process & Allied Industries Engineering Sugar . Textiles Hotels Jute
These meetings considered applications for finan- cial assistance for the related projects from 52 concerns. The aforesaid committees also reviewed the working of some of the sick units.
Local Advisory Committees
With a view to promoting better understand- ing about the policies and practices followed by IFCI and, in turn, to have a first hand knowledge about the industrial development of a State/ region, the Board of Directors of IFCI have constituted Local Advisory Committees (LACs) at thirteen places, viz., Ahmedabad, Bangalore Bhopal, Bhuba- neswar, Ca cutta, Cochin, Gauhati, Hyderabad, Jaipur, Lucknow, Patna, Madras and Simla.
The in in objective in constituting LACs is to bridge Lie communication gap, from the public relations angle, between IFCI and its numerous clients spread all over the country as also to have a closer inter-action with all those connected v\itu the promotion and development of the industry in a State/region. The feed-back received from the LACs enables IFCT to review and re-orient its policjos and procedures as also to appreciate the peculiar problems :.nd prospects of each State in the mailer ol industrial developmi-nl. The composition of LACs inclu ""es, officials of the Stale Government in key mcas like, industry, finance, cooperation, etc., executives ui I ave an interface with all concerned - be it ideas, plans and programmes, problems and prospects of the State/region in the matter of indus- trial development.
During the year under report, five meetings of the Local Advisory Committees were held at Calcutta (31 si October, 1980), Jaipur (20th De- cember, 1980), Bangalore (29tli December, 1980), Hyderabad (13th April, 1981) and Gauhati (23rd April, 1981). At the Lime of these meetings, op- portunity was also taken by the Chairman and the members of the Board present, to meet the officials of the State Governments and other financial and developmental institutions as also representatives of local business and industry orga- nisations or Chambers with a view to having better appreciation of the industrial climate in the res- pective States of the region and the problems of some of the assisted concerns.
The proceedings of these meetings, were con- sidered by the Board of Directors and where- ever necessary, the follow-up action in the light of the deliberations of these committees was initi- ated and is being pursued through the regional, branch and other offices to IFCI.
Association with Development Banks in other Countries
IFCT is a founder-member of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). As such, at the 3rd General Assembly Meeting of the ADFIAP held in Aus- tralia during the period from t'ue 6th April, 1981 to 8th April, 1981, IFCI was represented by, its General Manager, Shri D.N. Davar. At this meeting, the role of Development Financing Institutions (DFIs) in the technology transfer and the direction of ADFTAPV professional and man-power develop- ment programmes were considered.
The Chairman of IFCI, Shri B.B. Singh, visited West Germany twice during the year for signing the agreements pertaining to the 18lh loan of DM 10 million and the 19th loan of DM 15 million granted to IFCT by Kreditanstalt-fur-Wicderaufbau (KJFW), West Germany. During the course of his visits, he had useful discussions not onjy with KFW au- thorities but also with the banks and financial insti- tutions in Franco, Luxembourg and London.
TFC1 continued to maintain close liaison with other development financing institutions etc., outside ihe country as also with United Nations Industrial Development Organisation (UNIDO), Economic Development Institute (EDI), Washing- ton, of World Bank and Asian productivity Asso- ciation-, Japan. Six officers of IFCI were deputed during the year to participate in the seminars and, development prt grammes organised by ADFIAP, Manpower Development Centre of Development Bank of Phillipines, EDI, Washington, and Asian Productivity Organisation, Japan.
OD its part, IK 1, extended lacilities for a six- week attachment to a senior executive of Develop-
PART I I I- S E C. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3487ment Bank of Zambia to a quaint himself with its policies and procedures relating Hi appra;sal, follow- up and monitoring actVties. A se^'or evociHive of the Nigerian Indastral Pcselopment Bank also visited IFCl to exchange v'tv, regarding vauous corporate matters in y i e r i! ai .1 manf.ov/eT plan- ning and training, in particular.
Expenditure incurred on Foreign Tours
During the year, IFCI incurred an expenditure of Rs. 1,78,603/- on the visits/participation ih courses by its officers abroad. Of'this, Rs. 94,142/- per- tained to the visits of Chairman and General Manager to West Germany and Australia respectively
Public Relations
The Public Relations Department of IFCI at Head Office and IFCI offices at other places con- tinued to provide entrepreneurial guidance to new and prospective entrepreneurs. In addition, the Chairman held two press conferences, one et New Delhi on the 29th November, 1980 and the other at Bangalore on the 29t>! December, 1980. At these press conferences, the Chairman highlighted the operations of IFCI both in the field of direct financing and promotional activities. Endeavours were also made to explain the procedural improvements effected by IFCI and the approach of financial institutions for revitalising sick units having potential for revival. In addition, from time to time pressreleases were issued in connection witii the issue of bonds and other operational matters. Recently, Chairman had the pleasure of meeting a group of journalists from the Federal Republic of Germany who had called upon him for r conversation regarding the role of IFCI in the country.
Expenditure on Advertisement and Publicity
During the year, IFCI incurred a total expendi- ture of Rs. 77,974/- on advertisement and publicity.
Progressive Use of Hindi
In pursuance of Government's policy regarding the progressive use of Hindi for official purposes, eiforts are being made consistently to promote the use of Hindi in IFCI. As reported last year, three Official Languages Implementation Committees (OLICs) were functioning at Head Office, Bombay and Delhi Regional Offices of IFCI. During the year, OLICs were also constituted at \hmedabad, Bangalore, Calcutta, Hyderabad, Kanpur and Madras to monitor the progress and to suggest ways and means for furthering the us<* of Hindi.
In consonance with the policy to bil'ngualise the forms in use in offices of IFCI, all the form;., which are used by the Accounts Department, were bilingualised during the year, and got printed in Hindi and English. Urto tae 30th June, 1981, as many as 198 forms had been bilingualised in IFCI. IFCI also had the distinction to bilingualise the ^Common Application Form for financial assi- tance, which is used by the applicants for seeking financial assistance from the all India financial instis- tutions. IFCI's 'General Regulations' and 'Staff Regulations' which were framed by the Board under Section 43 of the IFCI Act. 1948, have also been translated into Hindi and have been get vetted from the Central Translation Bureau and are proposed to begoi printed shortly. During the year, the prospec- tuses issued in connection with the raising of funds by way of issue of bonds, were released both in Hindi and English.
IFCI has also adopted the Hindi Teaching Scheme of Government and the employees are regularly being deputed for training m Hindi, Hindi type- writing and Hindi stenography. In the depart- mental training programmes also, during the year, five Hindi workshops were conducted for the benefit of the employees and in addition, in four other train- ing programmes, a session on the use of Hindi, was included. During the same period, two program- mes were conducted exclusively for the benefit of the members of the sub-ordinate staff of IFCI.
Organisational set-up
Apart from its Head office at New Delhi, IFCI had as on the 30th June, 1981, four Regional Offices, one each at Bombay, Calcutta, Madras and New Delhi, four Branch Offices, one each at Ahmedabad Bangalore, Hyderabad and Kanpur and nine offices at, Gauhati, Patna, Bhubaneswar, Bhopal, Nagpur, Pune, Cochin, Jaipur and Chandigarh. From the 1st July 1981, the Gauhati and Patna Offices have been upgraded to function as a full-fledged branch offices. The branch office at Gauhati would now deal with the existing and new projects in the North- Eastern Region and the Patna Branch Office would have jurisdiction in respect of the existing and new projects located in Bihar and Orissa. A latest organisational chart of FCI may be seen at Appendix 'P'.
Delegation of Authority
During the year under report, the Board of Direc- tors decentralised more powers to the Regional and Branch Offices and also delegated discretionary powers for sanctioning financial assistance to total ceiling of Rs. 35 lakhs to the Chairman, Rs. 25 lakhs to the General Manager and upto a total limit of Rs. 20 lakhs to the Regional Sanctioning Authorities at the Regional Offices of IFCI.
Human Resources
As on the 30th June, 1981, IFCI had a comple- ments of 941 employees and professional staff (includ- ing the staff strength at its regional, branch and other offices), which constituted a multi-disciplinary team contributing to satisfactory v/orking results. IFCT paid particular attention towards recruitment of persons belonging to the Scheduled Castes and Scheduled Tribes as also the physically handicapped. In this connection, the quotas, as laid down by Central Government, wefe generally adhered to.
Employer-Employee Relations
During the year under review, IFCI revised the payscales of its officers as well as the other staff. The benefit of the revision in pay scales was given to the
3488 THh GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PAM III—SEC. 4officers with effect fiom the 1st October, 1979, while to the cleuc'l and suh-oidin,iie st ff. the same vas given elteU finm the 1st Septemhei 1 y7S Tlu Memoranda of Settlement, executed by 1FCI with the IFC1 Employees' \ssociation representing the membeis ol siibouu ate and denial si ff on the 6th June, 1980 and 7bth Apnl, 198], aie Lo lemain in operatim for a period of four years from the 1st Septembei, 1978 In terms of the settlements arrived, apart from the levision of pay scales and allowances, other fringe benefits and facilities available to the membei •> of the st^ff have also been considerably liberalised The overall employer-employee relations continued to be extremely coidial thioughouL the year.
Human Resources Development
In pursuance of Us policy of developing human resouiccs, 1FC1 continued to dei.pei its training activities dunng vhe year Apait fiom deputing six officers to the overseas training programmes and seminars, 34 short duration in-service training programmes with an average participation of 20 per programme, were orguused during the year J 980-81. Of these 22 training programmes vveie for senior and junior officers and 12 were for other staff members In addition, two 'm-company training programmes were organised with the assistance of the Development Banking Centre (DBC) of the Management Development Institute (MDT) for the benefit of 39 officcis. The total training effort was spread over 89 working days. In addition, 81 officers were deputed to attend 59 training courses conducted by the Management Development Institute (MDI), New Delhi, the AH India Management Asso- ciation (AIMA), New Delhi, the Indian Institute of Public Administration (IIPA), New Delhi, the Bankers Training College (BTC) Bombav, etc
Staff Suggestion Scheme
During the year, the Staff Suggestion Scheme continued to receive enthusiastic support from the various members of the staff and 109 suggestions regarding various aspects of the work, were re- ceived The suggestions numbering 24, which were found useful, were accepted as also imolementcd for the purpose of increasing overall effectiveness and efficiency of the organisation. Cash awards were given to the best suggestions and commendatory letters were issued in all othei cases
Productivity Improvement
The Management & Productivity Services Depart- ment of TFCT undertook a number of indepth studies in areas like development of manpower plan fof the coming years, formulation of a revised scheme of delegation of powers, level jumping for the purpose of efficient and speedy disposal of office work, re- coids management and filling system, etc A number of the recommendations m'de by the Department hrve since been implemented leading to the overall improvement in the productivity of the organisation.
Staff Welfare
A decade back, in August, 1971, 1FCT had set up for tho welfare of its staff a Fund knows as the 'Staff Welfare Fund'. Till the 30th June, 1981, a sum of Rs. 0-12 crore had been allocated and trans- lened to this Fund foi tiranung vanous activities foi the overall welfare of the employees and then wauls During the year undei lcview, with a view to coping with the expansion in stall wclfaic acti- vities it was decided to bifurcate the fund into two components, viz, (a) Revolving Fund for the Loans, and (b) GianLs and Expert, Account. The Re- volving Fund is to have a corpus of Rs 0-10 crore to be built up during the next few years. The Grants and Expenses Account covers expenditure to be inqui- red on all other items set out in the Staff Welfare Fund Regulations.
During the year, loans aggiejrating Rs 2,53,633/- were made out of the Revolving fund to 93 employees for purchase of house-hold durables like television sets, refrigerators, air-coolers and also for marriages of self sons, daughters, sisters as also for under- taking courses of studies for sclf-dcvolopmcnt. Fur- er, merit scholarships to 14 children of the em- ployees for pursuing professional courses in Medi- cine, Engineering, Hotel Management, Architecture, etc. lumpsum awards to 27 children of the employee"? for securing 60%ormoie marks in Xth and Xllth class and tution fees for education of three deceased employees of IFCT were paid during the year under Staff Welfare Fund Regulations. Other welfare activities comprised of grants to Sports & Re- creation Clubs of IFCf employees, maintenance of five Holiday Homes at Snnagai, Simla, Bangalore, Ooty and Pun, etc.
Personnel Accident Insurance and Group Insurance Schemes for the Staff
As a measure of social security, IFC1 has provided to all its whole-time employees insurance covers under the Group Accident Insurance Policy of the Oriental fire & General Insurance Company Limited and Group Insurance Policy of the Life Insurance Corporation of India The afoiesaid measures have provided much needed relief to the families or suc- cessors of those employees, who, unfortunately, had an untimely death while in service.
Office Premises
For the Head Office premises, a sum of Rs, 0 -92 crore had been paid upto the 30th June, 1981, as advance for 4400 sq. fi of office ^ccomnuciitjon m the public sector complex proposed to be con-Uruc- tefl by the Standing Conference of Puolic Enterprises (SCOPE) a. Lodhi Road, New Delhi. A few Re- gional, Branch and other offices of IFCI have now their own premises and steps are underway for acquir- ing premises on ownership basis for the remaining offices of TFCT.
Staff Housing Complex
For the staff serving at New Delhi Offices of IFCI, a Housing Complex consisting of 195 dwelling units in area of 3 -35 acres at Paschim Vihar, New Delhi, has been constructed at an estimated total cost of Rs 2-18 crores. In addition to the above, nine flats under construction have been purchased at Hauz Khas, New Delhi, at a cost of Rs 0 '27 crore to supple-' ment the flats earmarked for the officers.
In Bombay, IFCI has 15 flats on ownership basis for providing residential accommodation to officer staff stationed there and has also entered into an
PART I I I ^ S E C: 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3489agreement for purchase of 32 flats at Shastrinagar, Ghatkopar, Bombay, at a cost of Rs. 0 -35 crore. At Calcutta also, a plot of laud admeasuring one acre has been secured at a cost of Rs. 0 13 crore in Salt Lake City, from the Government of West Bengal, for construction of staff quarters.
Acknowledgements
The Board of Directors express their gratitude for the assistance, co-operation and cordiality received from the various Ministries, Directorates, Departments of Government of India, the Industrial Development Bank of India (IDBI), the other sister all-India financial institutions, various State Governments and the State level financial and developmental insti- tutions.
The Board are also grateful to the members who have served on the various Advisory Committee for their valuable assistance and advice as also to non- officials who have served as IFCI's nominees on the Boards of various assisted concerns.
The Board of Directors further acknowledge the continued support and active co-operation received from various development financing institutions abroad, particularly, the assistance received from the managemeni of -Kreditanstalt for Wiederanfhan (KFW West) Germany, Oversea!, Development Ministry, of the U.K. Government and the Swedish national Development Authority, Sweden, and expect a more fruitful co-operation in the years to come.
The Board also wish to record their deep apprecia- tion of the loyal and devoted services put in by all the staff, at all levels, of IFCI during the year.
On behalf of the Board of Director,
(B.B. Singh)
Chaiman
The Board of Directors also place on record their appreciation of the endeavours made by the Chair- men and the Boards of Technical Consultancy Orga- nisations (TCOs), Risk Capital Founction (RCF) and Management Development Institute (MDI) in furthering the activities and the role of the res- pectivo organisations.
INDUSTRIAL FINANCE CORPORATION OF INDIA
REPORT OF THE AUDITORS
TO 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 at 30th June, 1981.
We have examined the attached Balance Sheet with the Accounts and Vouchers relating thereto and the audited returns from
the Branches, which returns are incorporated in the above 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 together with the notes thereon is a full and fair Balance Sheet containing all necessary particulars and properly drawn up in accor- dance with the Industrial Finance Corporation Act, 1948 and the Rules of the Corporation and exhibits, a true and correct viow of the "tate of the affairs of the Corporation according to the best of our information and explanations given to us and as shown by the books oflhe Corporation.
RAY & R AY
B.L. AJMERA & CO.,
Charterd Accountants
20—369GI/81
3490 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4INDUSTRIAL FINANCE
NEW
Balance Sheet as at
Schedule
This Year
Serial Liabilities No.
Rs.
Previous Year Rs.
(1) SHARE CAPITAL
A
17,50,00,000
15,00,00,000
(2) RESERVES AND RESERVE FUND . . ..
B
40,12,57,735
32,77,14,621
(3) LONG TERM BORROWINGS
-
C
5,35,81,30,565
4,55,80.86,234
(4) CURRENT LIABILITIES AND PROVISIONS .
D
32,33, 35,142
27,72,93,904
(5) OTHER LIABILITIES
E
2,48,74,121
2,38,28,095
(6) CONTINGENT LIABILITIES AS PER CONTRA
F
50,33,083
73,99,241
6,28,76,30,646
5,34,43,21,285
As per our Report attached
R.K. KAUL S.A. DAVE J.C. SANDESARA S.K. DATTA K.P. TRIPATHI
P.C.D. NAMBIAR O.P. GUPTA G.V. KAPADIA S.HARIHARAN J.U. PATEL N.S. SAPKAL RAY & RAY B.L. AJMERA & CO. Chartered Accountants
Directors
INDUSTRIAL FINANCE
NEW
Profit and Loss Account for the
Expenditure
Rs.
This Year Rs.
Previous Year Rs.
es
26,69;72,177 2,54,722 47,9d,637 3,71,595 1,81,93,447 1,12,818 34,05,637 8,25,237 9,68,980 51,240 56j000 5,76,138 24,28,596
Institute
4,38.515 5,00,000
„
30,79,89,637 2,13,788 26,18,408 47,41,335 2,56,51,669 2,12,494 35,09,099 9,72,890 10,80,741 32,672 56,000 7,52,857 31,07,801 10,70,510 5,27,344 3,00,000 82,745
4,55,79,204
Interest on Bonds, Borrowings etc Commitment Charges OD Foreign Currency Loans Brokerage on issue of Bonds . Loss on Investments . . i Establishment Expenses Directors' and Committee Members' Fees and Expens Rent, Taxes, Insurance and Lighting Postage, Telegrams, Stamps and Telephones Printing, Stationery and Advertisement Law Charges Audit Fees . . .. Travelling and Halting Expenses Other Expenses Loss on Exchange Fluctuation Depreciation Grant to Management Development Staff Welfare Fund Expenses . Provision for Taxation . Less : Income Tax refunds and adjustments in respect of
earlier year
4,55,79,204
5,38,81,635
Net Profit for the year carried down . . . ..
8,38,22,384
4,78,80,000
48,25,21,578
39,77,07,374
1,45,83,000
84,80,0000
5,54,00,000 25,00,000 1,25,000
Amounts transferred to : General Reserve Fund Special Reserve (Under Section 36(l)(viii) of the Income Tax Act, 1961) . . . ' Benevolent Reserve Fund Staff Welfare Fund Proposed Dividend
„
1,12,14,384
2,73,00,000 25,00,000 2,00,000 . 94,00,000
8,38,22,384
4,78,80,000
As per our Report attached
R.K. KAUL S.A. DAVE J.C. SANDESARA S.K. DATTA K.P. TRIPATHI
P.C.D. NAMBIAR OJP. GUPTA G.V. KAPADIA S. HARIHARAN J.U. PATEL N.S. SAPKAL
Director
RAY & RAY B.L. AJMERA & CO. Chartered Accountants
PART in—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 349CORPORATION OF INDIA
DELHI
30th June, 1981
Previous Year Serial Assets
Schedule
This Year
Rs.
Rs.
No.
40,84,20,924
21,15,67,269
G
(1) CASH A ND BANK BALANCES .
32,42,92,557
35,48,16,037
(2) INVESTMENTS
H
4,42,84,68,344 (3) LOANS A ND ADVANCES
5,48,00,71,330
I
2,10,14,381 (4) FIXED ASSETS
2,79,13,420
J
(5) OTHER ASSETS . . . . . . . ..
15,47,26,838
20,82,29,507
K
(6) CONSTITUENTS' OBLIGATIONS AS PER CONTRA .
73,99,241
50,33,083
L
6,28,76,30,646
5,34,43,21,285
D.N. DAVAR B.B.SINGH General Manager Chairman
CORPORATION OF INDIA
DELHI
year ended 30th June, 1981
I n c o me
This Y e ar Rs.
Previous Y e ar R s.
Interest (Less B ad D e b ts written off a nd provisions m a ce for B ad a nd Doubtful A d v a n c es a nd other adjustments) •
. ..
. . . ..
44,38,14,427
37,22,88,640
C o m m i s s i on .
. ..
. . ..
29,42,984
22,16,960
. .
. . ..
60,15,342
39,18,094 Profit on sale of investments Profit on sale of assets " . ..
. . ..
26,300
2,528
D i v i d e nd
. . ..
1,67,48,125
89,19,339
1,27,82,684
1,01,53,680 C o m m i t m e nt Charges . ., . . . . .. Miscellaneous lr.come
1,91,716
2,08,133
48,25,21,578
39,77,07,374
N et profit for Ilieyciii brought d o wn
8,38,22,384
4,78,80,000
8,38,22,384
4,78,80,000
D . N. D A V AR B.B. S I N GH G e n e r al M a n a g er C h a i r m an
3492 THE GAZETTE OFTNDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART HI—SEC. 4SCHEDULE A SHARE CAPITAL
Annexed to and forming part of the
Balance Sheet as at 30th June, 1981
Description
This year
Rs.
Previous year Rs.
AUTHORISED :
40,000 shares Of Rs. 5,000/* each
20,00,00,000
20,00,00,000
ISSUED, SUBSCRIBED AND PAID-UP
(Guaranteed by Government of India as to the repayment of principal and payment of minimum annual dividend under Section 5 of the IFC Act, 1948).
(i) 10,000 shares of Rs. 5,000/- each fully paid-up . . ..
5,00,00,000
5,00,00,000
(il) 4,000 (Second Scries)
shares of Rs. 5,000/- each fully paid-up
2,00,00,000
2,0000,000
(iii) 2,692 (Third Series)
shares of Rs. 5,000/- each fully paid-up
1,34,60,000
1,34,60,000
(iv) 3,308 (Fourth Series)
shares of Rs. 5000/- each fully paid-up
1,65,40,000
1,65,40,000
(v) 10,000 (Fifth Series)
shares of Rs. 5,000/- each fully paid-up . . ..
.. . . 5,00,00,000
5,00,00,000
(vi) 5,000 (Sixth Series)
shares of Rs. 5,000/- eath fully paid-up
:
—
. • . . 2,50,00,000
17,50,00,000
15,00,00,000
NOTE : Minimum annual dividend ® 2-1/4% in case of item (0 4% in case of items (ii) and (iii) 4-1/2% in case of Item (Iv) and 6%
in case of items (v) and (vi) has been guaranteed by Central Government,
SCHEDULE B RESERVES AND RESERVE FUND
Annexed to and forming part of the
-Balance Sheet as at 30th June, 1981
Description
Previous year
Rs.
This year Ra.
Rs.
(i) General Reserve Fuud
(Under Section 32 of the IFC Act, 1948) Balance as per last Balance Sheet Transferred from Profit Sc Loss Account
16,72,80,000 1,45,83,000
15,88,00,000 84,80,000
18,18,63,000
16,72,80,00
(ii) Reserve Fund
(Under Section 32A of the IFC Act, 1948)
1,00,00,000
1.00,00,000
(iii) Benevolent Reserve Fund
61,36,111 25,00,000
(Under Section 32B of the I FC Act, 1948) Balance as per last Balance Sheet Transferred from Profit & Loss Account v
65.81.656 25,00,000
Less: Amount utilised
86,36,111 20,30,169
90,81,656 29,45,545
66,05,942
61,36,111
(iv) Special Reserve
(Under Section 36(l)(viii) of the Income Tax Act, 1961)
Balance as per last Balance Sheet . . .. Transferred from Profit &, Loss Account
13,83,78 362 6,54,00,000
11 10,78,362 2,73,00,000
19,37,78,362
13,83,78,362
(v) Specific Grant from Government of India Balance as per last Balance
59,20,148
59,49,276 Sheet Grant received in terms of Agreement with Kreditanstalt fur Wiederaufbau
71,40,000
74,22,000
Less : Amounts utilised for specific purposes
1,30,60,148 40,49,717
1,33,71,276 74,51,128
90'10,431
59,20,148
40,12,57,735
32,77,14,721
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3493
Annexed to and forming part of the
Balance-Saset as at 30th June, 1081
SCHEDULE C
LONG TERM BORROWINGS
Description
This year Previous year
Rs. Rs.
1. BONDS (UNSECURED—ISSUED UNDER
SECTION 21 OF THE IFC ACT, 1948 GUARANTEED BY GVERNMENT OF INDIA)
•
•
c % Bonds 1988 .
% Bonds 1988 (Second Series)
r % Bonds 1989..
•
5f% Bonds 1980 5$% Bonds 1981 5$% Bonds 1982 5 i% Bonds 1983 5l% Bonds 1984 5 }% Bonds 1985 6% Bonds 1986 6% Bonds 1984 6% Bonds 1985 6% Bonds 1985 (Second Scries) 6% Bonds 1986 (Second Series) 6% Bonds 1986 (Third Series) 6% Bonds 1987 . 6% Bonds 1987 (Second Scries) (A & 6 & 6i T,
% Bonds 1989 (Second Series) % Bonds 1992 . % Bonds 1992 (Second Series) % Bonds 1996
— 8.33.30.800 5,50,00 000 5.50,00.00 4,95,00 000 4,95,00,000 8,80,08,800 8,80,08,800 11,00,67,300 11,00 67 300 13,16.67,800 13,16,67,800 7,99,08,000 7,99,08,000 11,0012000 11.00,12000 12 47,37,800 12 47,37,800 16,54,79,200 16,64,79 JOO 19,25,05,400 19 25,05,400 32,45,87,200 32 45,87 200 19.88,73,800 19,88,73,800 25,39,45,500 25.39,45,500 33,00,00,000 33.0000 000 35 01,54,000 35,01,54,000 34,93,75,000 34,93,75 000 40,06.25,000 40,06.52,000 38,50,00,000 38,50,00,000 39,60,00,000 _ . ' . 23,92,22,000 _
4,33,46,68,800 3,78,27,77,600
2. BORROWINGS
(i) From Industrial Development Bank of India
(Under Section 21(4) of IFC Act, 1948) in the form of 6i % Adhoc Bond of Rs 5 00 crores, 6J% and 6 }% Adhoc Bonds of Rs. 10-00 crores each and 7 5% Adhoc Bond of Rs. 20 -00 crores
• 43,00,00,000 23,50,00,000
(ii) From Government of India
. (Under Section 21(4) of the FC Act, 1948)
. . .. 13,44,80,542 29,03,74377
(iii) From Government of India in terms of Agreement
with Krcditanstalt-fur-Wieldcraufbau
3,68.96,900 3^3 50 J00
(iv) From Foreign Credit Institutions in foreign curren- cies (secured by Gurantees of Government of India except to the extent of Rs. 26,14,768)
42,50 84 323 21 95 83 757
5,35,81,30,565 4,55,80,86,234
SCHEDULE D CURRENT LIABILITIES AND PROVISIONS
Annexed to and forming part of the
Balance Sheet as at 30th Jane, 1981
Description
Previous year
Rs.
This year Rs.
Rs.
A. CURRENT LIABILITIES
(i) Short term borrowings from Reserve Bank of Indfa—Secured
by bonds issued by the Corporation of the face value of Rs. 3 -25 crores (Under Section 2J(3)(b) of the IFC Act, 1948)
• • .
(ii) Bank overdrafts outside India . . . . ..
25,61,485
(iii) Sundry Creditors
16,74,08,048
9,74,95,118 (iv) Interest accrued but not due :
(a) On borrowings from ;
22,90,779
(1) Government of India
69,
23,940
(11) Foreign credit institutions in foreign currencies
1,77,933
23,14,719
•
71,37,208
3,44.47,099
(b) On bonds
3,29,00,992
3,67,61,818 ~~~ —— ~ _. 4,00,38,200
3494 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART HI—SEC. 4SCHEDULE D (Contd.)
Description
This year Previous year
Rs.
Rs.
Rs.
Rs.
(v) Advance guarantee commission . . . ..
43,419
47,200
(vi) Advance received on account of legal'charges and expenses for
appraisal
12,58,448
7,93,400
(vii) Unclaimed dividend
—
250
(viii) Commitment charges accrued on borrowings from foreign
Credit Instituions in foreign currencies
16,327
13,629
(ix) Amount refundable to sub-borrowers/payable to Government
out of interest charged on borrowings from Foreign Credit Institutions in foreign currency
,
52,00,306
—
B. PROVISIONS
(i) Difference in Exchange Suspense Account
3,44,79,49
(ii) Amounts held in suspense :
(a) Interest
6,12,04,808
6,20,59,850
66,311
66,311 (t>) Commitment Charges (c) Incidental Charges
2,37,704
2,37,704
(d) Guarantee Commission
1,70,031
1,70,051
6,16,78,874
6,25,33,916
(iii) Provision for Taxation :
Balance as per last Balance Sheet
14,57,30,035
15,82^19,744
Add : Provision for the year
4,55,79,204
5,38,81,635
19,13,09,239
21,21,01,379
Less : Adjustments in respect of earlier years
2,20,94,476
6,63,71,344
16,92,14,763
14.57,30,033
Less : Tax deducted at source . , 1,18,80,526
72 81,920
Advance tax paid . . . 12,01,42,204
10,59,56,233
13,20 22,730
11,32,38,153
3,71,92,033
3,24,91,882
(iv) Proposed dividend
. . ..
• - •
1.12,14,384
94,00,000
H.00,84,291
13,89,05,297
32,33,35 142
27 72,93,094
SCHEDULE E OTHER LIABILITIES
Annexed to and forming part of the Balance Sheet as at 30th June, 1981
Description
Previous year
•Rs.
This year Rs.
Rs.
(i) Staff Welfare Fund :
7,49,680
Balance as per last Balance Sheet . - . , , . Less : Amount utilised
6,20,043 70,363
Add : Amount transferred from Profit Loss Account
7,49,680 1,25,000
5,49,680, 2,00,000
8,74,680
7,49,680
(ii) Industrial Finance Corporation Employees' Provident Fund
2,23,49,441
1,72,20,415
(iii) Liability in respe
transferred under Section 21B of the IFC Act, 1948 .
16,50,000
58,58,000
2,48,74,121
2,38,28.095
PART H I ^ $ E C. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1081 ( A G R A H A Y A NA 21, 1903) 349S"Annexed to and forming part of the Balance Sheet as at 30th June, 1981 SCHEDULE F CONTINGENT LIABILITIES AS PER CONTRA
Description
Previous year
This year Rs.
Rs.
Rs.
34,14,112
(i) Guarantees (Under Section 23(l)(b) of the IFC Act, 1948) .
44,96,213
(ii) Foreign Loan Guarantees (Under Section 23(lXc) of the IFC"
Act 1948)
",20,212
16,81,971
•(iii) Deferred French Credit on accont of principal amount
20,82,216
(iv) Underwriting Contracts (Under Section 23(l)(d) of the IFC
Act, 1948)
1,66,80,000
(Previous year—Rs. 66,33,000/-) . . .
(v) Uncalled amount in respect of partly paid-up shares held as investment under Section 23(l)(d) and Section 23(1)(O of the IFC Act, 1948) (Previous year—Rs. 19,67,482)
[19,34,198,3
50,33,083
73,39,241
Annexed to and forming part of the Balance Sheet as at 30tfa June, 1981 SCHEDULE G CASH AND BANK BALANCES
This year
Description
Previous year
Rs.
Rs.
Rs.
Rs,
(i) Cash and stamps ifi hand at Head Office and at Regional and
33,377
Branch Offices
49,067
3,84,78,676
AH) Cheques in hand and under collection
3,08,58,058
(iii) Balance with Banks :
(a) On current Account^-
8,18,05,216
In India Outside India . . .. —
7,65,72,726 99,002
8,18,06,216
7;66,71l728
(b) On Fixed Deposit A c c o u n t-
In India . . .. 9,12,50,000 Outside India . . .. —
25,84,50,000 4,23.92,071
9,12,50,000
30,08,42,071
17,30.55,216
37,75,13,799
21,15,67,269
40,84,20,924
SCHEDULE H INVESTMENTS (AT COST)
Annexed to and forming part of the Balance Sheet as at 30th June, 1981
This year
Previous year Description
Rs.
Rs.
Rs.
(i) Under Section 20 of the I FC Act, 1948
96,00,000
Initial Capital/Shares of certain financial institutions .
96,00,000
(ii) Under Section 23(l)(d) of the I FC Act, 1948
(a) Stocks, Shares, Bonds and Debentures of
Industrial concerns
22,59,96,372
22,04,42.257
(b) Application rtioney paid on shares, debentures etc.
22,59,96,372
22,04,42,257
(iii) Under Secion 23(1X0 of the I FC Act, 1948
5,69,15.969
5,38,80,040 (a) Shares
6,40,313
' (b) Application money paid on shares . . ..
5,75,56,282
3.38.80,04
3496 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA i l, 1^03) [PART ffl^-SEC. 4(1)
(2) (3)
(4)
(iv) Under Section 23(l)(i) of the IFC Act, 1948
23,77,875
5,59,600 Debentures Shares acquired under the proviso to Section 23(l)(i) of the IFC Act, 1948
- . 5,92,85,308
3,98,10,660
6,16,63,383 4,03,70,260
~" 35,48,16,037 32,42,92,557
(a) Quoted Investments
Book Value Market Vlue
17,24,29,811 16,94,89,793 35,78,66,219 23,41,17,977
(b) Investments, for which quotations are not available Book valuo . . . . . . ..
18,23,86,226 15,48,02,764
SCHEDULE I LOANS AND ADVANCES
Annexed to and forming part of the Balance Sheet as at 30th Jue, 1981
Description
This year
Rs.
Previous year Rs.
Loas and Advances :
4,18,12,72,668 24,71,95,676
5,00,54,08,848 47,46,62,482 In Indian Currency In Foreien Currencies
5,48,00,71,330
4,42,84,68,344
Notes:
(a) Debts due by concerns in which the Directors of the Corporation are interested as
17,56,92,325
6,25,64,463 Directors in tho capacity of Nonimee Directors . . .. . ..
(b) Total amount of loans disbursed during the year to concerns in wfilch the Directors of
1,48,50,000 the Corporation are interested as Directors in the capacity of Nominee Directors
48,00,000 (c) Total amount of instalments whether of principal or interest overdue by concerns
in which the Directors of the Corporation are interested as Directors.
89,60,924
7,59,999
Annexed to and forming part of the Balance Sheet as at 30th Jnne, 1981 SCHEDULE J FIXED ASSETS
This year Description
Rs.
Previous year Rs.
Rs.
Rs.
53,36,313 63,41,014
1,16,77,327 52,63,309
1. Leasehold Land & Buildings (including work-in-progress) Cost as per last Balance Sheet Additions during the year . . ..
1,69,40,636
1,16,77,327 2. Freehold Land Buildings
77,77,963 14,37,660
77,76,263 .1.700 Cost as per last Balance Sheet Additions during the year
92,15,623
77,77,963
Less : Depreciation Upto last year For the year
"
4,30,799 1,40,684
5,71,483 1,73,104
5,71,483
7.44,587
84,71,036
72,06,480
3. Motor Cars, Cycles, Furniture, Fixtures,
43,43,715 7,38,076
41,09,787 25,56,563 Fittings, etc. Cost as per last Balance Sheet Additions/Adjustments during the year .
43.66,350, 22,635
50,81,791 24,541
Less : Sold/discarded . • .
50,57.250
43,43,715
PART III—SEC, 41 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 34Qy(5)
(2)
(4)
(3)
•0)
22,13,141
19,33,090 Less ; Depreciation Upto last year For the year
3,54.240
2,97,831
25,67,381
22,30,921
Deduct : On assets sold/discarded .
11,879
17,780
25,55,502
32,13,141
25,01,748'
21,30,574
2,10,14,381
2,79,13,420
SCHEDULER Annexed to and forming part of the OTHER ASSETS (Also refer Note \(h) for Difference in Exchange) Balance Sheet *i at 30th June, 1901
Description
This year Previous voar
Rs.
Rs.
Rs.
fa) Interest accrued but not duo
(i) On Fixed Deposits with Banks
2,95,065
12,04,654
55,479
(ii) On Debentures
4,80,336
12,59,88,336
(iii) On Loans & Advances
9,53,78,330
19,78.891
(iv) Others
". .
16,31.349
' 12,83,17.771
9,86,94,669
(b) Commitment and other charges accured . . ..
28,44,147
45,46,171
4,32*60,548
(c) Sundry Debtors
2,88,42,315
58,88,446
(d) Advances to Staff
47,63.866
71,270
(c) Prepaid Expenses
44.937
7,49,680
(f) Net Assets of Staff Welfare Fund
5,49,680
(g) Deposit under "Companies Deposits (Surcharge on Income
Tax) Scheme 1976"
9,17,200 1,75,32,000
(h) Loans to Risk Capital Foundation (Interest free)
9,17,200 1,63,67,000
86,48,445
(1) Difference in Exchange
—
20,82,29,507
15,47,26,838
SCHEDULE L CONSTITUENTS' OBLIGATIONS AS PER CONTRA
Annexed to and forming part of the Balance Sheet as at 30th June. 1981
This year
Description
Rs.
Previous year Rs.
34,14,112
44,96,213 (a) Guarantees (Under Section 23(l)(b) of the 1FC Act, 1948)
8,20,812 (b) Foreign Loan Guarantees (Under Section 23(1 )(c) of the IFC Act, 1948)
1116,18,971
20,82,216 (c) Deferred French Credit on account of principal amount
50,33,083
73,99,241
21—369GI/81
3498 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4NOTES FORMING PART OF ACCOUNTS
1. (a) Foreign Currency loans availed of by the Corporation have been converted and expressed into rupees at the T l. Selling rates prevailing on the 30th June, 1981 instead of the past practice of converting the same at the erstwhile IMF Parity rate of $ 1-Rs. 7-50 and DMl="Rs. 2 0 5. Similarly foreign currency loans granted to sub-borrowers have been converted and expressed into rupees at TT .Selling rates of exchange as on the 30th June, 1981 instead of the rates of exchange prevailing at Ihc time of grant Ihereof pursuant to Section 27(3) of fFC Act, 1948 or the past practice of con- verting at parity rates. Due to (he above changes, the borrowings from foreign institutions have increased by Rs. 1890-23 lakhs and advances to sub-borrowers have increased by Rs. 1813-03 lakhs in terms of Indian Currency.
(b) The balance of exchange difference, to the extent not adjusted, has been carried forward in the Balance Sheet under the head "Other Assets.", As and when the profit or loss on subsisting borrowings from foreign credit institutions is finally ascertained necessary adjustments will be carried out. However, as per policy of the Corpoiatlon, loss on account of difference in exchange has been adjusted in the accounts of the Corporation in respect of such lines of borrowings which hav"e been fully repaid to the foreign credit institutions upto the 30th June, 1981.
2. Under the head "Contingent Liahilitis" the figures of contingent liabilities expressed in foreign currency have been shown atRs. 50-33 lakhs (Rs. 73-99 lakhs as on 30-6-80) at the rates of exchange prevailing on different dates. At the TT Selling rates prevailing on the date, of Balance Sheet, the figures will be Rs. 49-74 lakhs (Rs. 126 18 lakhs as on the 30th June, 1980)
3. Investments under Section 23(lXd") and 21(1X0 of the TFC Act, 19,48 include a sum of Rs. 20 -78 lakhs and Rs. 6 -75 lakhs respectively (Rs. 44 -32 lakhs as on the 30th June, 1980) in the share cnpltal of some companies which have gone into liquidation and the Corporation is not likely to realise the full amount invested. No. specific provision has been made-in respect thereof,
4. Invesdments do not include shares of the par value of Rs. 27 -79 lakhs (Rs. 3 -51 lakhs by way nf utilization of the Benevolent Reserve Fund and Rs. 24-28 lakhs out of the Specific Grant) (Rs. 18-48 lakhs as on the 30th June, 1980) in certain Technical Consultancy Organisations subscribed to by the Corporation as part of the Corporation's promotional \ activities" including assistance for projects promoted by technologists and new entreprenedrs.
5. (a) Loans and Advances include Rs, 40 -30 lakhs (Rs, 70 -19 lakhs as on the 30th June, 1980) in respect of which athc rights and
and interest of the Corporation have been transferred under Section 21B of the IFC Act, 1948.
(b) Interest Income does not include a sum of Rs. 4 11 lakhs (Rs. 12-10 lakhs for the year ended the 30th June, 1980) being the interest on the loans and advances in respect of which the rights and interest of the Corporation have been transferred under Section 2IB of the IFC Act, 1948, which amount has been set off against the interest payable to the transferee.
6. An aggregate amount of Rs. 879 08 lakhs (Rs. 406 -87 lakhs as on the 30th JuTie, J 980) was duo on the date of the Balance .Sheet from certain companies, the undertakings of which have been acquired by the Central/State Government. It has not been possible to determine as to what portion of the said amount can be recovered either out of the compen- sation or from the guarantors. Besides, a sum of Rs. 635 -57 lakhs (Rs. 796 -84 lakhs as on tire 30th June, 1980) is due on the Balance Sheet date from certain companies whose liabilities, have been frozen under the Industrial Development and Regulation Act. It is considered that the provisions made against bad and doubtful loans and advances and debtor on net of tax basis are adequate to cover any possible losses on recovery in these accounts.
7. (a) AS per past practice, the Corporation has not accounted for interest, commitment charges and commission etc, in cases where
the possibility of recovery by the Corporation is considered remote,
(b) Interest on certain accounts where Court Orders have been obtained is being accounted for as and when received.
8. In respect of Bonds matured but remaining unpaid and accordingly treated as Sundry Creditors amounting to Rs.
539 -26 lakhs , no confirmation could be obtained from Reserve Bank of India.
9. At the instance of the Income Tax Department, certain appeals/references have been made to the Tribunal/High Court in cases where the matters had been decided in favour of the Corporation. The total amount of tax involved In such cases as on the 30th June, 19811a Rs. 40 -60 lakhs (Rs. 40 60 lakhs as on the 30th June, 1980)
10. Previous year's figures, have been recast, wherever necessary, to make them comparable to those of the current year.
APPENDIX A
DISPOSAL OF APPLICATIONS FOR ASSISTANCE
(Including Sott Loans Scheme)
(Rs. Crores)
Applications processed during the year
Disposals
,
.- A
.
State/Territory
Pending at tho beginning of the year (1-7-1980)
Processed during the vear
Applications treated as withdrawn or closed during the year
Applications sanc- tioned assistance (gross) during the vear
Applications pending at the end of the year (as on 30-6-1981)
. —A^ . , -
!~ • J
(—-——. -. ——.—^ No. of Amount
*—.—.——^ Amount
. concerns
No of concerns
No. of Amount concerns
No, of Amount concerns
No. of Amount concerns
(2) (3) •
1)
(4)
(5)
(6) (7)
(10) (11)
(8) (9)
Andhra Pradesh
2 7 -31
30 162-21
27 25 -84
5 42 -34
Assam
— _ — —
4 1-50
— —
1 0-50
PART HI—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3499 APPENDIX A (Contd.) 8 1 10 2 4 7 9 3 5 6 U 7 Bihar 7 32 17 5-69 — — —16
Gujarat .
5-80
66-87
1
2
17
3 58
15-05
6-85
2t
8
9
1
2 Haryatia
17 15
5 19
1-59 5-17
—
—
Himachal PradeSh
3-79
—
—
16-39
—
—
3
—
3
—
1
1
2-15
Jammu & Kashmir .
6-59
0-50 — — 2 — —
Karnataka 1 3 02 13 61-69 — 13 14-51 1 2-8o
Kerala 2 13-05 4 7-54 — — 5 , 5 05 1 0-80
Madhya Pradesh 1 3-73 7 24-87 1 3'73 4 3.93 3 10-64
Maharashtra 1 2 50 39 296-12 1 2 50 35 36-43 4 73-36
Orissa 2 5-36 4 26 -35 — — 5 3-88 1 14-47
Punjab — • „ 14 91-46 — — 13 2103 1 3 06
Rajasthan 4 31-52 24 97-04 — 24 22-48 4 12-73
Tamil Nadu 1 3 71 19 161 -66 — — 16 13-71 4 78-83
*Tripura . — — 1 1 -87 — — 1 0-36 _ _
Uttar Pradesh . 4£ 9-89 23 43-16 1 2-30 25 17-05 1 2-52
West Bengal 3$ 5-55 10 58-14 — — 10 9-32 3tt 9-73
Goa . 1 2-20 3 10-61 — 3 2-47 1 1-83
Delhi 1 0 76 2 34 42 — — 3 4-14 — —
Pondicherry 1 0-64 — — — — 1 0 16 — —
TOTAL: 28* 107 -85 231 1211 -72 4 1211 222** 212 -73 33® 260-50
tIncludes application from one concern for an amount of Rs. 2 00 crores under the Soft Loans Scheme,
JEIncluded application from one concern for an amount of Rs. 1 -36 crores under the Soft Loans Scheme.
{Included applications from two concerns for an amount aggregating Rs. 5 10 crores under the Soft Loans Scheme.
1-(-Includes application from one concern for an amount of Rs. 2 S>0 Crores under the Soft Loans Scheme.
•Including applications from 3 concerns for Rs. 6 -46 crores under the Soft Loan's Scheme but excluding applications
from 58 concerns for an amount aggregating Rs. 416 60 crores which were not under active processing due (o certain baaio issues/important matters remaining to be sorted out.
••Inclusive of assistance to 39 concerns of the order of Rs. 25-52 crores under (he Soft Loans Scheme. @ID addition," applications from 70 concerns under normal scheme and 6 concerns under Ihe Soft Loans Schemo foraggr"grti
assistance on joint financing basis of Rs. 617'85 crores and Rs. 15-87 crores respectively were also under examination of IF•.'1 along with other all-India financial institutions. In these cases, certain important matters/basic issues were in the process of bein^ sorted out.
Note : Excepting the figures relating to sanctions (which denote IFCI's share of assistance) all the figures • denote assistance sought' by
the applicant concerns jointly with other financial institutions.
3,$0p, T,HE GAZETTE OF WDIK pECElyffiER 12, 19&t (AGftAHAYANA 21, ldO3) [PART I I I ^ S E C. 4APPENDIX B
STATEMENT OF FINANCIAL ASSISTANCE SANCTIONED BY THE INDUSTRIAL
ABBREVIATIONS USED
Col. 3
BD
Backward District
Col. 5
Col, 4
Co-operative sector Joint Sector Public sector
Coop. Jt. Pub. Pvt.
Private sector
Col. 6
CE Ch. CP Dir. GM MD Ft. V, Ch.
Chief Executive Chairman Chief Promoter Director General Manager Managing Director President Vice-Chairman
D E E &M E &R M
Diversification Expansion Expansion-cum-raodenisation Expansion-cum-rehabilitation Modernisation
District
Sector
Purpose . Line of SI. Name of the concern No.
Name of the Chief Promoter/ Chairman/Mg.
manufacture/ Industry
Director
1 (2)
(4) (5)
(3)
(7)
(6)
ANDHRA PRADESH
Pvt;
M.P. Jain
1. Andhra Cement Co. Ltd,
M ; OR
Cement
(MD)
(3 projects)
Visakha- patnam: Guntur;
Krishna Hyderabad
Pvt.
2. Andhra Citrates Ltd-
NU;OR
1. Andhra Pradesh HcHvy Machy & Engg. Krishna
NU
Pub.
Ltd.
4. Andhra Pradesh . . ..
Pvt.
NU;OR
M.K. Raju (MD) M.R. Pai, IAS (Ch.) L.M, Thapar (Ch.<)
Warrangal (BD)
Citric acid monohydrate Industrial machinery Rayon grade pulp Rayons Ltd. (Thapar Group)
5. Avanthi Leathers Lid
Pvt.
NU;OR
R.N Reddv (Ch.)
Chittoor (BD)
6. Coromandel Fertilizers Ltd. . .
Cuddapah
N U ;D
Pvt.
Processing of hides & skins Cement
7. Deccan Cement Ltd.
Pvt.
NU
Cement
8. Dolphin Hotels Ltd
Nalgonda (UDT Visakhapatnam
Pvt.
NU; OR Hotel
Dr. B h a i a l R am (Ch.) M-V. Raju (MD) Ramoji Rao Ch. (Kin)
9. Oolconda Abrasives Ltd
Pvt.
NU
Medak (BD)
T.N. Damodaran (Ch.)
Grinding wheels
Hyderabad
10. Hindustan Machine Tools Ltd.
Pub.
M
Machine Tools
Pvt,
11. Kakatiya Cements Ltd.
NU
Cement
Pvt.
12. Nagarjuna Cejrnents Ltd.
NU
Cement
13. Nagarjuna Signode (P) Ltd.
Pvt.
NU
14. Nandyal Coop. Sugars Ltd.
Coop.
NU;OR
H.T. Strappings & accessories Sugar
t5. Nizam Sugar Factory Ltd. . .
Pub.
NU
Sugar
16. Nizam Sugar.Factory Ltd. .
Pub.
NU
Sugar.
17. Palair Cooperative Sugars Ltd.
Coop.
NU
Sugar
18. Panyam Cement & Mineral
M
Pvt.
Cement
Industries Ltd. (2 projects)
19. Pennar Papers Ltd
Jt.
NU
Paper
Nftlgonda (BD) Nalgonda (BD) Medak (BD) Kurnool (BD) Anantpur (BD) Karimnagar (BD) . Khammam fBD) Kurnoo! (BD) Cuddapah (BD)
20. Raasi Cements Ltd
Jt.
NU;OR Cement
Nalgonda (BD)
B. Ramachandra (Ch. & MD) P. Venkateswarlu (MD) K.R. Raju (MD) "N. Rao (proposed MD) M.G.G. Naidu (MD) S. Anandaram (V. Ch. & MD) S. Anandaiam (V. Ch. & MD) C.V. Rao (Pr) M. Ramanna (Ch. & MD) K.H. Reddy K.R. Reddy (Dir.) S.R. Ramamurthy (Ch.)-
P A RT I I I - ^ S E C. • *} • T HE G A Z E T TE OF I N D I A, D E C E M B ER 1 2, I S f ll ( A G K A H A Y A NA 2 1, 1 9 0 3) 3 5 t ti
APPENDIX j* (CWrf.)
FINANCE CORPORATION OF INDIA F R OM 1ST JULY, 1980 TO 30TH JUNE 1981
ABBREVIATIONS USED
Col. 16
Deutsche Mark Foreign Currency Loans Pound Sterling Swedish Kroner M &B NU OR R
DM FCL £ Sw. Kr.
Modernisation-cum-balancing New Project Overrun Rehabilitation-financial
DP
Col. 17
Deferred payment
Col. 12
DPG
Deferred payment guarantee
Col. 13
Debenture Direct subscription Equity shares Rights Issue
Dob. DS Eq RI
(Rs. Crofes)
sanctioned
Means of financing
Cost
Month & year by
Financial assistance (Gross) by IFCI
iirrn/-i|-i 't'nPi
. . i*
Installed capacity proposed to be created/add6d
W I11U1 LilC
of the project/ Scheme
Total
Share • capital
Under- Total writings
Loans Others
including
DP
Rupee FCL loans* (Rupee equiva- lent)
project/ scheme is expected to be completed
(18)
(13)
(17) 00)
(12)
(15) (16)
(14)
(9)
(8)
(11)
1-05
0 60
0 15 —
1 -50
0'45
0-15 (addl.)
0-85 0-20 0-65
0-85 0 25 —
3,500 tonnes
13-60 4'85 8-75
13-60 2 00 — -
0-25 (addl.) 2 00
—
—
„
4'50
4-50
2 -65 1 -85
0-37 —
Oct. 19*1 Sept. 1982 March 1981
0'37 (addl.)
0 16 0-90
0 90
0-74
0 17 —
0 17 (addl.)
10,00,000 tonnes
20 00
54 00
74 -00
74-00 6 00 —
66,000 tonnes
5-48 1 65 3-68 0-15 5-48 0-84 —
6 -00 (addl.) 1-06 Jan. 1984 July 1982
022 (Eq.)
0-54
0-35 0 19 0-54 0 10 —
n—.
1,000 tonnes
1-90 0'50 1 -25 0 15 1-90
_
0 05
0 10 (addl.) 0 05
(OS) (Eq)
„
__
12-45
. 8 00
12-45 1 -75 —
4 45
66,000 tonnes
5-80 J 80 4 00
— 5-80 • 0-85 —
1-75 (addl.) 1-09
66,000 tonnes
5 -94 1-85 3-94 0.15 2397 0.87 —
1.12
0 15
12,000 tonnes
7'00 2-20 4-65
7-00 0-40 —
0-50
0'24 (Eq.) .25 (Eq.) 0 10 (Eq.)
—
1 -00 0-60 0-40
—. 1 '00 0 10 —
1,250 TCD
5-17 2 00 2-82 0-35 5 - J7 1 00 —
.
1,250 TCD
5-60
2-00 3-36 0-24 5-60 1 12 —
. .
0-10 (addl.) 1-00 (addl.) 1-12
7-65
2-80
. .
0 15
1,250 TCD
4-70
7-65 1 15 —
1 15
2-75
0-75 2-75
2 00
0 60 —
4,950 tonnes
1-95
0-54 1-25 0-16 1-95
0-50 (addl.) 0 06 March 1984 Jan. 1983 Jan. 1983 Sept. 1983 April 1981 Nov. 1981 March 1981 March 1982 Aug. 1981 Oct. 1981
—
3-93
0-89 3 -04
3-93 O'SO
0 06 (DS) (Eq) 0 09 April 1981
0-59 (addl.)
(DS) (Eq) (RJ)
•Deferred payment guarantee Is also shown under this col, (SI. 152).
5502 THE GAZETTE OF lttpIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART HI—SEC. 4APPENDIX B (Contd.)
(6)
(1) (2)
(3)
(4)
(5)
(7)
Krishna
N
Sugar 21. Shree Hanuman Coop. Sugars
Coop.
Ltd.
N il
Pvt.
22. Shree Manufacturing Co, Ltd.
23. Shri Ambuja Petro-Chemicals Ltd.
Pvt.
NU; OR
Spg. (Blended & ^cryllc) Phtliahc Anhjcliide
-A.R. Rao (MD) G.D. Kothaii (Ch.) R.J. Haii\allabrj
Medak (BD) Mcdak (BD)
NU
Jt.
Special tools 24. Shri Ramachandra Tools Ltd.
Medak (BD)
B.S. Raju (MD)
M &B
Adilabad
K.P. Singhi
Paper
Pvt.
25. Sirpur Paper Mills Ltd.
Pvt.
Adilabad
NU
Cement 26. Someshawara Cement & Chemicals Ltd.
Sugar
Coop.
Visakhapatnam
NU
27. Thandava Coop. Sigars Ltd.
K.C. Veerappa
(Ch & MD)
C.S. Rao, IAS
(Ch.)
ASSAM
E
Pub.
Dibrugarh
28. Assam Gas Co. Ltd.
Distribution of gas
B.K. Borgohain
(Ch.)
BIHAR
29. BASF India Ltd Dhanbad; P.K. Sanyal Pvt. NU Industrial
(2 Projects) Thane (MD) chemicals
(Maharashtra) E Pesticides
30, Bihar Air Products Ltd, Singhbhum R.K- Sinha Jt. NU;OR
CCh )
31. Bihar Caustic & Chemicals Ltd. . Palamau R.K. Sinha Jt. NU
(BD) (Ch.)
32. Bihar Finished Leathers Ltd. Pub. NU;OR
(3 projects)
A.R, Swaniinathan
(Ch. & MD)
Oxygen, & acetvlenc Caustic soda Liquid chlorine HcT. acid Amro, chloride Processings!' hides & skins
Pvt.
E &M Sugar 33. Champaran Sugar Ltd.
(Surajrnull Nagarmull Group)
D.C. Sawheny
(Ch)
Pvt.
NU
West Champatan (BD); Begusari (BD); Muzaffarpur (BD) West Champaran (BD) Ranchi
34. Shriram Needle
Bearing Industries Ltd.
K.L. Gandhi (Ch. & MD)
Pvt.
Singhbhum
E &M
Loose, needle rollers, Unit cages. Shell bearings Iron & steel 35. Tata Iron & Steel Co. Ltd.
(Tata Group)
J.R.D. Tata (Ch.)
GUJARAT
Kaira
Pvt.
b &M
36. Elecon. Engg. Co. Ltd.
Pvt.
NU; D
Material handling equipment Paper 37. Kunkariya Chemical Inds. (Pvt.) Ltd. .
M.
Pvt.
38. Mahendra Milts Ltd.
NU
Pvt.
39. MIPCO Seamless Rings (Gujarat) Ltd.
Panchmahal (BD) Mehsana (BD) Bharuch (BD)
Spg. & Wvg. (cotton) Rolled rings for bearings
B.I. Patel (Ch. & MD) P. Kankariyp (Ch.) M.A. Patel (Ch. & MD) M.I. Patel (Proposed Ch. &MD)
NU
Pvt.
Cement Choker 40. Narmada Cement Co. Ltd.
(3 projects)
D.L. Chowgule
(Ch,)
Cement Grinding Cement Oridning
F.K.F. Nariman
Pvt.
M.
Amreli (BD): Surat; Ratnagiri (BD) (Maharashtra) Bulsar
41. Navsari Cotton & Silk Mills Ltd.
(Ch.)
Spg. & Wvg. (cotton/blended)
PARI 111—SBC. 4J THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21? 1903) 3503(Rs. Crores)
(10)
(14)
(16)
Ml)-
(121
(17)
(15)
(H)
OR) (H>
7 61
1 -24 1,250 TCD
4-94
2-67
1 24
7-61
R in
0-98
8-10
_
1 -35 15.K4O "spindles
2-02
5-10
1 10
—„
2-6y
'() -22
2-69
1 -33
1 14
0-21
Dec. 1981 Jan. 1083 April 1981
0 34 (add).)
0 05 1 -44
0-97
0-15
J ,53,200 pieces
0-32
1 -44
Ocl. 1981
0 25 (Pq) 0 13 (RT) (Eq) 0 05 (DS; (Eq)
.
22 -45
. 12-00 10-45
1-50
22-45
1 50
,
5-90
3-90
0 15 5-90
1 00
66,000 tonnes
1-85
1-25
0-25 (Eq.)
3-88
6-80
0-15
6 -80 0-98
1,250 T CD
2-77
0-98 Dec. 1983 Jan. 1983 Dec. 1081
—.
July 1981
.
0-77
1 '90
2-67
2-67
0-50
Installation of two compressors and laying of 20 kms. of pipeline
0-50 (addl.)
_
14-00
1,500 tonnes
5 94 5-16
14-00 2-90
0-42
0 42 (DM)
385 tonnes
1 Jan. t 1981 f April J 1983
0'54
0 24 0-10
0-54
0-20
0 12
0 03
Oct. 1982
0.12 (addl.) 0 09 (addl.)
0 06 (Sw. Kr.)
_
_
0-30
0-94
0-94
0-64
0 17 '
Dec 1980
0-17 (addl.)
2-00
2 -75
2-75
350 TCD
0-50
0-50
ff-75
Jan. 1983
_
1 -70
1 70
0-85
0-85
200 million nos, 0-62 „
1 Dec. j- 1981
0-34 (DM)
0-39 (addl.)
0 05 (Eq)
_
_x
209 '90
0 '19 million tonnes
209-90
181 00 28 -90
4-00
4-00
(addl.)
March 1983 1982 Dec.
—
4,000 tonnes
18.50
5.79
12.71
18.50
1.25** —
1.75
(Deb.) 0.50
1982
(Deb.)
5-50
1-00
3'55
5-50
10,000 tonnes
0-95
0 90
1-00 July 1981
0-10 (Eq)
3-40
2-20
3-40
1-20
0-55
0-55 Dec, 1982
,
6 '5 millions nos.
5'85
2-50
0-31
5-85
1 00 Jan. 1982
0-95 (DM)
0 05 (Eq)
2 -92 0-12 (DP)
Aug. 1981
0-15 (Eq.)
0-15 (add).)
2-84
2-00
0-84
2-84
0-50
Dec. 1983
0-50 (addl.)
•Accounted for during the year 1979-80
••Since reduced to Rs. 1 -00 crore.
3504 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGKAHAYANA 21, 1903) [PART 111—SEC. 4APPENDIX B (Contd.)
0) (2)
(3)
(4)
(3)
(6)
(7)
GUJARAT (Contd.)
42. Nasa Watches Ltd.
. Baroda
Jt.
NU
Watches
43. Pclrosynthesc-Private Ltd.
. Buroda
Pvt.
NU
Polybutcnes
Baroda
Pvt.
E &M Ball bearings 44. Precision Bearings India Ltd. (V. Ramakrishna Group) 45. Reliance Textile Industries Ltd.
. Ahmedabad
M
Pvt.
(Reliance TeMile Group)
D.L. Varia (Ch. & MD) Smt. S.R. Thakkar (MD) Dr. R.M. Thakkar (MD) Vidya Sagar (Ch.) D.H. Ambani (Ch, & MD)
Spg. & Wvg. (blended)
46. Rohit Mills Ltd.
. Ahmedabad
Pvt,
M
47. Rustom Mills Industries Ltd.
Ahmedabad
Pvt.
M
48. Saraspur Mills-Ltd.
. Ahmedabad
Pvt.
M
(Kasturbhai Lalbhai Group)
49. Saurashtra Cement & Chemical
Porbandar
Pvt.
M
Spg. & Wvg. (cotton/blended) Spg. & Wvg. (cotton/blended) Spg. & Wvg. (blended) Cement
Industries Ltd.
50. Shriram Cement Ltd.
. Banaskanlha
Pvt.
NU
Cement
51. Shree Mahuva Pr&deih SKUM Ltd.
(BD) Surat
Coop.
NU
Sugar
R.C. Mchta (Ch. & MD) P. Anubhai (Ch. & MD) Chinubhai Chirnanbhai (Ch.) K.N. Mehta (Ch.) M.G. Parikh (Ch.) G.N. Patel (Ch.)
HARYANA
52. Elson Cotton Mills Ltd.
. Gurgaon
Pvt.
E
Spg.
53. Haryana Detergents Ltd. .
.. Mohindergarh
NU;OR
Jt.
54. Haryana Steel & Alloys Ltd.
(BD) Soncpat
Pvt.
M
55. Indo-Swiss Time Ltd.
. Gufgaon
Pvt.
NU
(blended) Synthetic detergents. Steel ingots, rolled products Watches
K.B. Hada (Ch.) V.K. Sebel, IAS (Ch.) O.P. Goyal (MD) Prem Gupta (\irr\\
\ IVIUJ
56. K.C. Textiles Ltd.
Pvt.
NU
Spg, .(blended)
57. Multitech International Ltd.
PVt.
NU
. Jind (BD) Mohindergarh (BD)
K.C. Goyal
(MD)
Sanjay Dalmia
(MD)
58. Pasupati Spg, & Wvg. Mill"; Ltd.
Pvt.
NU
Single super phosphate Sulphuric acid Spg. (blended)
Mohindergarh (BD)
59. Victor Cables Ltd. . . . Faridabad
Pvt.
NU
PVC power cables
R.K, Jain
(proposed MD)
B.K. Gupta
(MD)
HIMACHAL PRADESH
60. Gabriel India Ltd. . , Solan D.C. Anand Pvt. NXJ;OR Bi-metals strips,
(BD) (Ch.) bearings, bushings.
61. Paper Machine Wire Industries Ltd. . Solan P.V. Gandhi Pvt. NU.D Speciality tissue
(BD) (Ch.) paper
62. Siddartha Super Spg. Mills Ltd. . Solan H.C. Jain Pvt. NU Spg. (ctotton carded
(BD) (Ch. & MD) & synthetic)
JAMMU AND KASHMIR
63. Jammu & Kashmir Industries Ltd. . Jammu M.K. Tikku Pub. NU Rosin
(BD) (Ch) Turpentine
Rosin derivatives
Turpent, derivatives
64. Hold Corporation of India Ltd. . , Srinagar r Raghuraj Pub. NU 5iStar cl
(BD) (MD)
KARNATAKA
65. Cunara Steels Ltd" , . South Kanara T.R.U. Patil Pvt. E &M Alloy & st"el
(BD) (Ch.) castings
66. Farmers Coop. Spg. Mills Ltd. . Dharwar K.H. Patil Coop, NU Spg. (cotton)
(B) (Ch.)
67. Ghatprabhtt SSK Niyamit , Belgaum Coop. NU:OR Sugar
(BD)
B.C. Yelasangikar
(MD)
PART 1 I I ~ S E C. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3505(K.'. Cunt )
(10)
(12)
(14) (15) (](,) (")
(13)
(ID
(17) ( I h) (9)
5 lakh nos.
7-18
11-68 4-50
11 -68 1 -86
2 -1
5,000 tonnes
2'18 4-75
7-13 1-00
1 -A
7-n
April 1982 Jan. 1983
0-40 (Eq.) 0-40 (Eqj
2,04 million nos.
5-10
0-57 -
6 80
1-70 6 80
—
—
7 -%
31-88
23 -92®
31 -88
—
Aug. 1982 Sept. 1981
0-5 (add! 01 (addl
0-15** (DS) (Deb.)
—.
2-82
. 1 -90 0-92 2-82 0-48 —
0 4
„ ,
—
0 48 —
0-36
1-90
2-26
2-26
—
4-90
3-20 1 -70 4-90 0-80
—
16-10
. 11 -83 4-27 16-10
66,000 tonnes
0-25
2-00 4-20
6-45
1 -49' 0-67 (Sw, Kr.) 0-94 —
6-45
0 4i 1 (addl. 0-8( (addl. 2 1( (addl. 1 -2f
0-26 (Eq.)
1,250 TCD
6-50 2'52 3-75 0-23 6-50 0'60 —
0-6C June 1982 June 1982 Dee. 1983 June 1983 April 1983 Nov. 1980
._
0 -90 —
12,480 spindks
1 -35
3-75
5 10
5-10
Sept. 1983 —
0-40
0-32
0 08 . 0-40 0 10 —
_
1 02
2-52
_ . 1-50
2-52 0-30
0-9C (addl.J O'K (addl.) 0-30 Dec. 1981
***
15,748 spindles
6'05
1 -85 3-55 0-65 6-05
0-30 (DM) 0-90 —
0 03 (addl.) 1 15
0-25 (Eq) —
1 -25 2 47 0-58 4-30 0-50 —
0-50 4 -30
82,500 tonnes 3,000 tonnes
April 1982 Aug. 1981
0 20
3-80
5-95
5-95
1 -05 —
15,360 spindle?
Jan.
1 :95
1-25
2-42 0 -82
2,000 Kms
2-42 0-85 1 -57
0-96 Oct. 1981
0-20 (Eq.) 0-14 (Eq.)
0-54
1 00
1-54 0-20 —
1-54
5,450 tonnes
4-60 10-80 0-35 15-75 1 -64 —
0.20 (addl.) 2-04 15-,75
—
16,184 spindles
6-70 2-55 4-15
6-70 1 15 —
1 '55 Dec, 1981. Oct. 1982 Aril 1983
0 40 (Eq) 0-40 (Eq.)
0-50 —
2-44
0 46
0 50
1 15
2-44 0-83
Dec. 1981
4,015 tonnes 825 „ ") 1,500 „ V 790 „ J
.
1 -65 —
14 49
0-22
1-65 275 rooms
5-50
14 49
Oct. 1982
8-50 0-27
(DP)
if .
0'39 —
0-99
0-20
0 79
•"600 tonfles
0-99
Nov.
1981
—
1 05 —
0-39 (addl.) J 05
7-20
0-25
3-60
7-20 3-35
24,960 spindles
July 1984
—
.
1 -50 0-57 0-40 0-53 1 -50 0-20
0-20 (addl.)
©Includes Rs.10 80 crores on account of the issue of Rights debentures, ••Subscription to Rights Debentures, Accounted for in the year 1977-78.
22-369GI/81
3506 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART I U - S E C. 4APPENDIX B {Contd.)
(1) (2) (3) (4) (5) (6) (7)
68. Gogte Textiles Ltd Belgaum B.M. Gogte Pvt. NU Spg. (blended)
(BD) (Ch.)
69. Jindal Aluminium Ltd. Bangalore S. Jindal Pvt. E Aluminium extru-
(Ch. & MD) sions
70. Karnataka Aluminium Ltd. Mysore S.N. Agarwal Pvt. NU Aluminium alloy
(BD) (Ch.) extrusions
71. Karnataka Cements Ltd, Gulbarga R.T. Doshi Pvt. NU Cement
(BD) (Ch.)
72. Karnataka SSK Ltd. Dharwar I.S. Taware Coop. NU Sugar
(BD) (Ch.)
73 Karnataka Silk Industries Corpn. Bangalore; V. Devasher Pub. E &M Spg. & Wvg.
Ltd. (3 projects). Mysore (MD) (silk)
(BD)
74. Mysore Paper Mills Ltd. Shimoga V. Krishnan, IAS, Pub. E; OR Paper & news
(Ch & MD1 print •
75. Shri Krishnarajendra Mills Ltd. Mysore S.M.R. Rao Pvt. M Spg. & Wvg.
(BD) (Ch.) (cotton/blended)
76. Spun Silk (India) Ltd. Kolar M. Syed Abbas Pvt. NU Spg, (silk)
(Ch.)
77. Vishvarama Hotels Ltd. Bangalore R.S. Agarwal Pvt. NU 5-Star Hotel
(Ch. & MD)
KEBALA
Ernakulam
Carbon black 78. Carbon and Chemicals India Ltd
NU
Jt.
79. Kerala Adds & Chemicals Ltd .
Pvt.
NU; OR
Ernakulam
Pvt.
Ernakulam
Formio add & sodium sulphate XLPE Cables
E &D
80. Premier Cable Co Ltd.
C.N. George (MD1 P.S.V. PiUai (MD) H.M. Periwal (Ch.& MD)
Pub.
M
81. Travancore Titanium Products Ltd,
Sulphuric add
V. Ramachandran,
George Thomas
Jt.
E &D
Trivandrum fBDI Ernakulam
82 Transformers & Elecrricais Kerala Ltd..
Transformers
(Ctl.)
oiisnings Load Cap. changers
MADHYA PRADESH
NU
Jt.
83. Madhya Pradesh United Polypropylene
Polypropylene film
T td
B.S. Seth (Ch.)
Raisen fBD} Jabalpur
Jt.
E&RORi
84. Madhya Pradesh Vidyut Yantra Ltd.
Transformers
Indore
Coop.
Sugar
NU
85. Malwa SSK Ltd.
M
Indore
86. National Textile Corpn. (MP) Ltd.
Pub.
M.K. Chaturvedi, (Ch 1 IAS N.R. Krishna, CCh) TAS Col: J.D, Kumar (Ch. & MD)
Spg. & Wvg. (cotton)
Rajnandgaon
—Indore Malwa United Mills —Kalyanmal Mills —Bengal Nagpur Cotton Mills
(3 projects)
MAHARASHTRA
87. Ambalal Sarabhai Enterprises Ltd. Thane Gatftam Sarabhai Pvt. NU Mixed fatty acid*
(Sarabhai Grop) (Ch)
88. Aurangabad Paper Mills Ltd. Aurangabad M.G. Mittal Pvt. M & B, Wrapping/Kraft
(BD) (Ch.) paper
H.K. Firodia Pvt. E &M Commercial
89. Bajaj Tempo Ltd (Ch. & MD)
Pune vehicles
diesel engines
Coop.- NU Sugar
90. Bhogawati SSK Ltd.
91. Balkrishna Paper Mills Ltd.. SholapurThane Pvt. E Coated duplex
92, Crompton Greaves Ltd. Bombay M
T.S. Jadhav
(Ch.)
M.P.R. Poddar
(Ch.)
N.M. Wagle
Pvt.
Doaras Transformers
(Ch.)
(Thapar Group) (2 projects)
93. Exomet Plastics Ltd
K.L. Khanna
Pvt.
NU;D;OR
Colaba (BD)
(MD)
Octoic acid & aroma chemicals
[PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1902) 3507(Rs. Crores
(10)
(13)
(8)
(14)
(12)
(15)
(16)
(9)
(17) (18)
17,600 spindles
7.00 2-00 3-90
1.13
7.00 J.00
1-10
0.13 (Eq)
3,000 tonnes
1 -30
0-97 0-33 1 -30
.
0-33
3,000 tonnes
2'87 1-00
1-72 0-15 2-87 0-17
0-51
0-33 (DM) 0-25 (DM)
66,000 tonnes
6 00 2 05 3-75 0-20 6-00 0-95
1-20
0 08 (Eq) 0-25 (Eq)
1,250 TCD
7-50 3 00 4-10 0-40
,
1-00
7-50
1 00
. .
24.00
8-00 16-00
24-00 2-00
2-00 Jan. 1982 Jan 1983 Dec 1981 Jan 1983 Feb 1982 April 1984
1,200 spindles 70 looms 127 tonnes of silk filatures
,
0 93 44-39
45-32
45-32 3'69
(RX)
_
2'09
1-50 0-S9
3-66 (addl) 0-38
2 09 0-38
. .
0-90
3,200 spindles
1-83
2'73
1-93
2-73 1-68*
\ July 1981 March 1983 June 1982
0-25** (DS) (Eq)
158 rooms
6-15 2-25 3-90
—. 6-15 0-70
0-70 Dec. 1981
8-33
12-50 1 38
Sept
4-17
—
—
1-93 12-50
20,000 tonnes
0-55 (Bq)
_
0-24
0-28
0-28
0-04
0-07
0-57
4-80 1-98
7-50
7-50
1,200 kmi
Nov 1981 Sept 1382
1-37 (DM)
0 07 (addl. 1-37 (addl.)
2 11
^
0-15 (DP) 1-40 0-71 2-11 0-42 0-26 (Sw. Kr.)
—.
5-00 3-56
1-00
8 56
S-56
June 1982
0-68 (addl.) 1-00 (addl.) 326 nos. 300 nos. 135 nos.
0-94
5-76
3-36
5-76
800 tonnes
2-40
July 1982
0-64 (DM)
0-30 (Eq.)
0 42 0-48 0-90 0-12
0-90 0-30
4-10
1-05
—
0 12 (addl.) 1-05 6-75
6-75
2-65
1,250 TCD
5-47
6.08
0.61
1.82
6.08
Nov. 1980 March 1982
1.82
(addl.)
0-75
0-75
2-80
1-75
2-80
10,000 tonnes
105
.
0-71
0-50 0-21
0-25
0 71
1-40 9-42
—.
—
10-82
10-82
12,000 nos. \ 3,000 nos. /
Tuly "10811701 Dec. 1981 Sept. 1982
0-38 (Sw. Kr.)
0-25 (addl.) 0-38 (addL)
—
1-33
1-33
7-93
2-78 5 15
7-93
1,250 TCD
10,000 tonnes
2-90
2-30
2-90 0-70
—
— 0-70 Nov. 1980 Oct. 1981
0-60 (RI)
—.
—
10.55 0.75
0.75
4.10 6.45
10.55
_
0-50
0 25
0-76
0-26
0-76
June i m *y Sept. 1980
loUUI. 1
0-25
(addl.)
•Since reduced to Rs. 1 -20 crores.
••Since reduced to Rs. 0.15 crore.
3508 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX B (Conid.)
(1) (2)
(3)
(4)
(5)
(6)
(7)
94. Finolex Cables Ltd
Punc
P.P. Chhabria
Pvt.
D
XLPE Cables
95. Gadhinglaj Taluka SSK Ltd.
Kolhapur
Coop.
NU
Sugar
A. Nalwade (rh }
96. Ghatgc Patil Industries Lid.
Kolhapur
N.W. Gurjar
Pvt.
M
(Ch.)
Iron castings Marine gear boxes
97. Godavari Dudhna SSK Lid.
Coop.
NU
Sugar
98. Godavari Manar SSK Ltd.
Coop.
NU
Sugar
Parbhani (BD) Nanded (BD) Kolhapur
99. Ichalkaranii Coop. Spg. Mills Ltd.
D.A. Parjane
(MD)
S. Venkataswamy
(MD)
A.K. Baburao
Coop. E Spg. (cotton)
fCh)
100. Jain Spinners Ltd Aurangabad Pvt. NV Spg. (blended)
(BD)
101- Kalarneshver Textile Mills Ltd. Nagpur Pub. NU
S.C. Jain
(MD)
S. Pupsani, IAS
(Ch.)
Spg. & Wvg.
(cotton)
102. Larsen & Toubro Ltd. Chandrapur N.M. Desai Pvt. NU Cement
(Larsen & Toubro Group) (BD) (Ch. & Pr.)
103, Mafatlal Engg. Industries Ltd. Thane A.N. Mafatlal Pvt. M
Textile machinery
(Ch)
104. Morarjee Goculdas Spg. & Wvg. . Bombay A.G-Pirmai Pvt. M
Spg. & Wvg.
Co. Ltd. (Unit No. -2) (Piramal Group) (Ch. & MD) (cotton /blended)
105. MulaSSKLtd, . Ahmednagar V.V Arobrc Coop, NU Sugar
(MD)
106. Needle Roller Bearing Co. Ltd. Aurangabad T,S. Sahney P vf D
Roller bearings
(BD) (Ch. & MD)
107. Panch SheelPaper Mills Ltd. Jalgaon S,R. Kadia Pvt. NU Tissue paper
(BD) (CP)
108. Porwal Pulp & Paper MilJs Ltd. Chandrapur S-H. Porwal Pvt. NU Poster Paper
(BD) (MD)
109. Rajprakash Chemicals Ltd. Thane R.V. Fatel Pvt. NU;OR Methyl acrylate
(MD)
•Ciinyi acrylate
110. Ravindra Steel Ltd. , Chandrapur M.L. Agarwala Butyl acrylate
Pvt. NU
(BD) (Ch.) Paper
111. Reliance Textile Industries Ltd. Raigad D.H. Aiobani Pvt. NU Polyester
(Reliance Textile Group) (Ch.) Filament Yarn.
112. Sea Lord Containers Ltd. Bombay Pahlaj Bajai Pvt. NU Marine
(Ch. & MD) containers
113. Shree Siddeshwari Sulphur Products Raigad S.B. Shah Pvt. NU Sulphuric
(P) Ltd. (Dir) acid
114. ShrecVindhya Paper Mills Ltd. Jalgaon K.K. Soniajii Pvt. NU Paper
(Bangur Group) (BD) (Ch.)
115. Shree Vithal SSK Ltd. Sholapur S.B.Pawar Coop. NU
Sugar
(MD)
116, Siemens India Ltd. (Khatau Group) Thane CM. Khatau Pvt. M
(Ch.)
117. Spundish Engineers Ltd. Thane J.S. Chawla Pvt. R
(Ch.)
118. Standard Mills Co. Ltd. Pvt. M
P.N. Mafatlal
(Ch. & MD)
Switchgcars Swith boards Electric motors Pressure vessels Spg. & Wvg. (cotton/blended) (Mafatlal Group) (3 projects)
Bombay; Dewas (BD) (Madhya Pra- desh) Bombay
J.P. Goenka,
Pvt.
M
(Ch.)
119. Swan Mills Ltd (2 projects)
Spg.& Wvg. (cotton/blended)
120. Tata Engg. & Locomotive Co. Ltd.,
S. Moo'gao^ar
Pvt.
M
(Tata Group) (2 projects)
. (Ch. & MD)
Installation of com- puters & genera- tor
Pune; Singhbhum (Bihar) Homhuy
121 Transport Corporation of India Ltd.
Pvt.
M
PD. Auarwul (Ch.)
(Unit : Mukesh Textile Mills)
Spg. & Wvg. (cotlon)
ORISSA
122. Konarak Jute Ltd
Cuttuck
Jt.
NU; OR Jute goods
S.K.Lai, IAS
(Ch.)
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3509• (16) (17)
(18)
(13)
(12)
(14)
(10)
05)
(8)
(9)
0-7
1 -82 2-18
1,200 Kms.
4 45
Nov.
4 45 0-45
1982
0-78 (DM)
1 12
1,250 TCD
6-50 2-27 4-23
6-50 1 12
_
1-85
. .
_
0-51 2-47
0 11
2-47
June 1979 June 1982
0-38 (DM)
—
0-38 (addl.)'
1 -24
2-68 4-97
1-24
7-65
1,250 TCD
7-65
7-60
4-88
1-22
1 -22
7-60
1,250 TCD
2-72
1 10
0-75
1 00
5-66
5 66
3 -56 '
20,976 spindles
0-75 (addl.)
5-40 1-50 3'50 0 40 5-40 0-88
1 06 14,280 spindles
0-18 (Eq)
14.00 6-85 7 00 0-15 14 00 3 00
3 00.
77-00 6-34 60-13 • 10-53 77-00 6 00
6 00 42,732 spindles 300 looms 3,200 tonnes per day
9'54 1 -33 6 00 2-21 9-54 1-50
, 3 60 2 70 6-30 0-90
6-30
6'65 2 -45
0-60 6-65 0-90
1-50 (addl.) 0-90 (addl.) 0-90 1,250 TCD
3-60
5 10
2-50 2-60 5 10
4 -2 lakh nos
Jan. 1981 Jan. 1981 Jan. 1982 Oct. 10KI April 1993 Jan. 1983 March 1983 Dec. 1982 Jan. 1979 Sept. 1982
0-65 (DM)
0-65 (addl-)
1 00
0-40
1 -55 0-20"
0 03
0 15
2,000 tonnes
1-55
0-23
—
April 1981
0-1 3-65 0-95 2-30 0-40 3-65 0-55
4,950 tonnes
July
(DS)- (Eq) 0 06" (Eq.)
17OJ
_
—
0 10
0-33
0 10
0-43
0-43
Sept. 1981
0 0 (addl.)
1 10 4-40 0'75
4-40 0-20 3-10
7,250 tonnes
0-75
10'OOO tonnes
79'50
62 -00*
79-50
,
2-50+*
11-50
6 00
4.500 nos
3 05 1 -25 1-80
. . 3 05 0-45
,
2-50 (addl.) 0-61
0 82
1 72
0-46
33,000 tonnes
0 18
2'72
2 72
0-46
(Deb.) 0 16 (Eq.) —
_
m
6-40
4-95 0-85 6-40 1 00
0-60
& 10,000 tonnes
1 00
7 00
3 -75 0-80 7 00 0-95
2-45
1,250 TCD
(addl,) 0-95
.
5 00
3 00 2 00
0-75
„
0-75
5 00
,
Oct. 1983 Jan. 1983 June 1981 Jan. 1982 Jan. 1983 Nov. 1980 Sept. 1982
1-52 0 05 0'75 0-72 1-52 0 05
%
10 '60
5-25 5-35 10-60 2 00
March 1983
0 05 (add].) 2-00 (addl.)
7 10
4 00
7,10 1-00
3-10.
1 00 (addl.)
2-65 5'80 8-45
8-45
1 06
Dec. 1982 March 1982
(Kw. Kr.)
1 -06 (addl.)
_
.
l'-80 0-45
0-45
2-25
2-25
June 1983
0.45 (addl.)
0-34
1-42 0 20
1-42
0-69 0-39
Jan. 1981
0-20 (addl.) •
•Includes convertible debentures of Rs. 24 00 crores, • •Convertible debentures.
3510 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX B (Contd.)
(7)
(3)
(5)
(6)
(1) (2)
(4)
NU
Pvt.
Paper 123. Konarak Paper & Industries Ltd.
M y u r b h a nj (BD)
Mayurbhanj
V.S- Kothari
(Proposed MD)
S.K. Lai, IAS
124. Nicco OrissaLtd
NU
Jt.
(BD) Sambalpur
Coop.
E&M
XLPE cables Spg. (Cotton) 125. Orjssa Weavers Coop. Spg. Mills Ltd. .
NU
Bolangir
Spg. (cotton) 126. Sonepur'Spg. Mills Ltd.
Pub.
(BD)
(Ch.) A.K. Samaniaray IAS (MD) R.N. Pujan (GM)
PUNJAB
Pvt.
127. Hero Fibres Ltd-
Spg. (cotton/blended)
Jt.
128. Malwa Cottop Spg. Mills Ltd.
NU - • NU
Jt.
129. Mukerian Papers Ltd.
Spg. (cotton/blended) Paper
NU;OR
Sangrur (BD) Sangrur (BD) Hoshiarpur (BD) Amritsar
Pvt.
M
130. Oriental Carpet Mfrs. (India) Ltd.
NU
Pvt.
131. Partap Paper Mills Ltd.
Spg. & Wvg. (woolen) Paper
NU
Gurdaspur (BD) Roper
Pub.
132. Punjab AlkaJjes Ltd.
B.M.L. Munjal (Proposed MD) G. Patnaik (Ch.) T.K.A. Nair, IAS (Ch 1\KsLL-J S.K. Birla (Ch 1 G.S. Kairon (Proposed MD) T.K.A. Nair, IAS (Ch.)
NU
Pub.
133. Punjab Khand Udyog Ltd.
Caustic soda Liquid chlorrlne Hydrochloric acid Sugar
(2 projects)
T.K.A. Nair, IAS
(Ch.)
*
NU
134. Punjab National Fertilizers & Chemicals
Gurdaspujr (BD) Ferozxspur (BD) Roper
Pub.
Ltd. •
T.K.A. Nair, IAS
(Ch.)
Soda ash Ammonium chloride
Ashok Oswal
Pvt.
135. Shroyahs Paper Mills Ltd. . _ .
NU
Paper
Jt.
Sangrur (BD) Patiala
(Proposed MD)
T.K.A. Naif, IAS
136. Stopan Chemicals Ltd.
NU;0R
(Ch.)
Ludhiana
Pvt.
137. Vardhman Spinning & General Mills Ltd.
M
Ltd.
Pvt.
138. Vinod Paper Mills Ltd.
NU;OR
Synthetic deter- gents, Toilet soap, Glycerine Spg. (cotton & synthetic) Paper
S.P. Oswal (Ch. * Jt. MD) P.D. Rajgarhia (MD)
Sangrur (BD)
Pvt.
NU
139. Zenith Steel Pipes & Inds. Ltd.
Paper
Hoshiarpur (BD)
A.V. Birla (Ch.)
RAJASTHAN
Pvt.
140. Ajay Paper Mills Ltd.
NU;D Spg. (blended)
Alwar (BD)
R.L. Rajgarhia
(Ch.)
Pvt.
NU
141. Ceramic India Ltd. . . .
T.R. Swaminathan
(Proposed MD)
Cereamlc glazed tiles
Pvt.
NU
142. Derby Textile Ltd
Spg. (cotton/ blended)
143. Jaipur Polyspin Ltd.
N.K. Daga
(Proposed Ch.)
S.L. Dhanuka
Pvt.
NU
Spg. (blended)
Snc fhlpnticril
Pvt.
144 Jaipur Svntex Ltd
NU; OR
(Proposed Ch. & MD)
M.D, At?arwal
(MD)
Alwar (BD) Jodhpur (BD) Sikar (BD) Alwar (BD)
NU
145. Indag Rubber Ltd.
Pvt.
Rubber processing
Nand Khemka
(Proposed MD)
R. Singhania
Alwar
(BD)
146, J.K. Industries Ltd. Udaipur Pvl. E Tyres
(J.K. Singhania Group) (BD) (MD)
147. Mahavir Aluminium Ltd. . Alwar Pradeep Jain Pvt. NU Aluminium alloy
(BD) (Proposed MD) extrusions
148. Mewar Sugar Mills Ltd. Chittorgarh M.P. Dhandhama Pvt. E&M Sugar
(Proposed Jt. MD) OR
1 4 9. M o d e rn S y n t ex L t d .. . . .. Alwar H.S. Ranka Pvt. E;OR Spg. (staple/poly-
(BD) (MD) ester yarn)
1 5 0. M o d e rn T h r e a ds ( I n d i a) L t d. Bhilwara N.K. Barwa Jt. N U. Sewing threads
(BD) (Ch.)
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21. 1903) 3511
(Rs. Crores)
(14)
(16)
(15)
(17) (18) (9)
(10)
(13)
(12)
(8)
0-15 1-97
4,800 tonnes
1-97
0 03
0-46 1 -36
10-60
6-85
10'60
1 -75
700 Kms,
0-15
2 00
3 GO
Sept. 1981 Dec. 1982
(DM) —
0 03 (Eq) 0-25 (Eq) —
0-50
30,280 spindles
2 00
3-75
3-75
1 -75
3-84
1 -15
6-40
0-50 (addl.) 1 -15 25,080 spindle?
015
6-40
- *
2-41
Jan. 1982
17,136 spindles
1 -25
7-15 2-70
1-52
4-45
7-15
—
5-25
8-40 1-35
8-40 3 00
1 -60 24,000 spindles
0-15
0-27 (Eq) 0-25 (Ea i Jan. 1982 Jan. 1981
0-40
0-25
0-56
—
0 16 0-56
—
—
.
0 50
2-48 1 -10 3-58
3 -58
April 1983
0-27 (DM)
0-25 ("ddl.) 0-77 (addl.)
0-81
5-10 1-70 3-25 0-15 5-10
-
10,000 tonnes
1 -04 April 1983
_
3-30
16-65
25-00
25-00 8-20
4-11
0-15
Jan. 1984
0-23 (Eq.) 0-81 (Eq.)
. .
14-20
0-75 14-20
37,059 tonnes "1 16,500 tonnes }• 26,400 tonnes) J 1,250 TCD
5-00 8-45
3 '00
3 00
1,250 TCD
Nov. "1 1980 Jan. f 1981 J
11 -30
3'9 -55
0-15
5-00
66,000 tonnes each
28-10
39 -55
6.25 Dec. 1983
1-25 (Eq)
_
6-00
0-40 6 00 0-75
10,000 tonnes
2-05 3-55
1 00
0-25 (Eq,) June ,1982 —
.
.
2-60
0 16
1 09 2-60
0-75 0-76
0.16 (addl.)
(DP)
0-36
2-70
1-45 1 -25 2-70
0-36
(addl.)
—
—.
0-17
101
0-65 D-36
1 01
0-17 (addl.)
—.
1-85
0-80
6-65 •
4-80
10r000 tonnes
6'65
0-08 June 1982 Nov. J98O Oct. 1982
0 13
0 13
0-16
2-94 1-00 1-78
5,500 tonnes
2-94 0 45
0-12
0-57
(Eq)
.
6-90 2-60 4-15
16,128 spindles
0-15 6-90 1 15
0-25
1 -40
(Eq)
—
6 00 '2-15
13,440 spindles
6 00
3-85
0-90
1 15
0-25 (Eq.) May 1982 Jan. 1982 Oct. 1982 April 1982. —
0-64 0-05 0-47
0 12
0-12
0 64
0 12 (addl.)
„
7-70 2-75 4-95
7-70
3,539 tonnes
0-90
1 -62
0-39 (DM)
0-33 (Eq)
.
9-88
0-07
1 -93 7-88
9-88
] .20 lakh nos
1 '89**
1 -89
(addl.)
4-14
2-49
1 -50
0 15
3,000 tonnes
0-45
4 14
0 09
0-54
_^
0-56
(Eq) ,
0 10 0-40 O'Ofi
0 10
0-56
0 10 (addl.) Nov. 1982 Oct. 1982 April 1982 Dec. 1982 —
—
0-22
0-20 0-02
—
.
0'22_ 0-20
0-2Q (addl.)
0 15
12,376 spindles
6-73 2.31] 4-27
6-73
—
0-92
1-14 Jan. 1984
0'22 (Eq)
•Accounted for during the year 1979-80. ^•Subsequently reduced to Rs-1 -88 crores.
3512 THE GAZETTE OF INDIA. DECEMBER 12. 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX B (Cotpd.)
(1) (2)
(3)
(4)
(5)
(7)
(6)
151. Modi Alkalici & Chemicals Lid. .
Pvt.
NU
Alwar (BO)
K.K. Modi (Ch.)
152. Partap Rajaslhan Copper Foils & Lami- Jaipitr
Jt.
NU
nates Ltd.
P.C. Maheshwari
(Proposed MD)
Caustic soda Liquid chlorine Hydrochloric acid Stable bleaching powder Copper foil Laminates
Pali
153. P.G. Foils Ltd
Pvt.
Aluminium foils
NU
154. Rajasthan Glycnal Ltd.
Jt.
NU;OR
Udaipur (BD)
P.G. Shah
(Proposed MD)
N.K. Jhunjhunwala
(MD)
Glyoxa], Sodium acetate
155. Rajasthan Spg, & Wvg. Mills
Bhilwara
Pvt.
M
L.N. Jhunjhunwala
(Ch. & MD)
E
Ltd, (2 projects) (Bhilwara Group)
156. RamPurBngg. Co. Ltd.
Pvt,
NU
157. Rathi Alloys & Steel Ltd.
Pvt.
E
(2 projects)
H R. Gupta (Ch.) H.K. Rathi (Ch.)
M
Spg. (cotton/ blended) Spg. & Wvg. (blended) Material handling equipment. Installation of ore furnace Rolled products
'158. Saraf Paper Mills Ltd.
Pvt.
N U ; OR Paper
159. Saraf Synthetics (Rajasthan) Ltd,
Pvt.
NU
160, Spinning Accessories (P) Ltd.
Alwar (BD) Alwar (BD): Ghaziabad (Uttar Pradesh) Alwar (BD) Alwar (BD) Jaipur
Pvt.
D
Spg. (synthetic/ blended) Synthetic wire
G.L. Saraf (Ch. & MD) N.D. Saraf (Proposed MD) B.K. Khaitan fniiO \±JU.. f
161. Straw Products Ltd
Pvt.
NU
cioin Cement
(J.K. Singhania Group)
162. Tirupati Fibres & Industries Ltd
H.S, Singhania
(Ch, & MD)
P.D. Dalmla
Jt,
NU
Spg. (cotton)
(Proposed MD)
163. Vishal Chemicals (India) Ltd,
P. Burman
Pvt.
NU
Sirohi (BD) Sirohi (BD) Alwar (BD)
(Proposed MD)
Guargum & derivatives
TAMIL NADU
164. Adyar Gate Hotels Ltd. Madras Hariram Pvt. NU Hotel
(MD)
165. Ashok Leyland Ltd Chingleput R J. Sahney Pvt. M Com, vehicles
(Ashok Lcyland Group) (Ch & MD) Engines
166. Asian Bearings Ltd Dharamapuri S.M.P, ChettlBr, Jt. NU Antifriction
(BD) (MD) bearings
167. Budge Budge Jute & Inds. Ltd. Tiruchirapalli B J. Poddar Pvt. M Spg, (cotton)
Unit : Sree Sabari Mills (BD) (Ob.)
168. Chettinad Cement Corpn. Ltd. . Tiruchirapalli Dr. M.A.M. Chittiar Pvt. M Cement
(BD) VJ-*.tj'/ (Ch )
169. EID Parry Ltd. Madras Dr. Easo John Pvt. M Methanol
(Parry Group) (Ch. & MD)
170-Enfield India Ltd- Madras S. Viswanathan Pvt. • M M o t or rVriTj*fi
(MD)
171. Ennore Foundries Ltd. Chingleput N.N. Wanchoo Pvt. M Castings
(Ashok Leyland Group) (Ch.)
172. Madras Cements Ltd. Pvt. M Cement
(Madras Cement Group)
R. Raja
(MD)
M.A.M. Chettiar
Pvt.
173. Madrua Coats Ltd.
M
(Madura Coat Group)
(Ch.)
Spg. & Wvg. (cotton)
(3 projects)
Pvt.
174. Poysha Industrial Co. Ltd. .
Metal container?
(3 projects)
M.R. Ruia (Ch.)
NU NU
E
Ramanatha- Puram (BD) Madurai (BD); Tirunelveli Madras; Calcutta (West Bengal); Cochin (Kerala)
•"
Pvt.
NU
175. Siltronics (India) Ltd-
Silicon wafers.
Z.F. Musa (Dlr.)
Dhannapuri (BD)
Tirunelveli
Jt.
176. Southern Petrochemical Inds, Corpn,
E
Ltd.
M.A. Chidambaram
(Ch.)
Diammoniuni phosphate
PART n i —S I C. 41 THE GAZETTE OF INDIA. DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3513(Rs. Crores)
(8)
(10)
(9)
(17)
(18)
(12)
(16)
(13)
(15)
(14)
(11)
1 -39
26 70
17-95
3.28
26-70
8-75
1-44
July
1982
(Sw. Kr.)
0-45 (Eq.) 37,060 tonnes ~] 20,460 tonnes 1 19,800 tonnes f 10,000 tonnes, j
1-95
10 25 3-40
6 -6 lakh sq. mtrs. Sept. 10-25 0-90 0-35
3-35 lakhsq mtrs. 1982 0-70 (Eq.)
(DPG)
1,500 tonnes
3-25
1-25
4-63 2-22 (DP) 2 00
, .
0-47
3'25
0 47 (£)
0-63 0 09
_ _
0-20
0-63
June 1981 Nov. 1980
0-20 (addl.)
0-40 0 14 (DP)
— "1
3-30
1-75
1-55
3'30 0-55
,
0-55 (addl.)
7,680 spindles 150 looms 3,000 tonnes
1 00
3 03 0-60
0-75 3 03
0 24
1 -79
0 15 (Eq)
9-18
9 18 0-34 6-84 2 00
1-50
25 tonnes per day
1-50 (add!.)
1-35
1-35 0-25
,
0 52
0-83
1 10
15,360 spindles
0-25 (addl.) 1-30
4-40
0-15 6-95
6-95 2-40
0-20 (Eq.)
12,600 sq. metres
0 05 0-67
0 90
,
0-42
0 18
0-90
0-42 (DM)
1 00
—.
1 00
36 00
5 lakh tonnes
36 00
10 00
26 00
„—
15,400 spindles
2 60
0-15
7 05
4-30
1.19
7 05 0.90
0-29 (Eq)
2-41
0 35
0-76
1 07
2,700 tonnes
0-02
3-50
3-50
Oct. y 1982 J April 1982 Dec.T 1981 Juno y 1982J Dec. 1980 Jan. 1983 March 1982 Dec. 1982 Jan. 1983 Sept. 1982
0-30
(DM)
O il (Eq)
5 '88 0 41
0-41 16f room"!
3-15 0-47
5-88
2-26
.
2 95
5-17
5 17
2 -22
H1 vi
l'-20 (addl.) Jan. 1981 Dec. 1981
1-08 (DM) 0 12 (£)
*
_
0 07 (Eq)
1
•
2-24 0-35
0-58
2'24
1-66
1-37
4-37 0-60
3-00
4-37
4-00 7-47 0-22
3-47
7-47
0 47 (Sw. KrO
,
„
0-50
0-87
2-00
2-87
2-87
_
^^_
5-75
3-80 1-95 5'75
0 46
Sept. 1981 Sept 1962 Marh 1983 Jun" 1982 Doc. 1982 Dec. 1982
(DM)
0-07 (addl.) 0-35 (addl.) 0-60 (addl.) 0-69 (addl.) 0-50 (addl.) 1 06 (addl.)
_
_
0-75
2 20 0-36
0-60 (£) _
1-45
2-20
pec mi
_
__
1-37
11-57
5-50 6 07
11 -57
0-36 (addl.) 1-37 (addl.) June 1983
1 -36
0 50
7-60
1 -58
7-60
5-42;
0-60
March ' 1982
0-86 (DM)
30 million not. ") 30 million nos. y 16'8 million nos, )
0 41
0 15
3-04
3 04 1 -20
7 '50 lakh nos.
1-69
—
0-41 (DM) —
13-60
2 -28
10-88
2-72
13-60
500 tonnes per dav
2-28 (addl.) June 1982 May 19^2
23—369GJ/81
3514 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 19Q3) [PA*T III—SEC. 4APPENDIX B (Contd.)
(1) (2)
(6)
(7)
(3)
(4) (5)
177. Tube Investment of India Ltd. Madras
M
A.M.M. Arunachaiam Pvt. (Ch. & MD)
(MurugaPpa Chettiar Group) (2 projects)
178. Tuticorin Alkali Chemicals & Fertilizers Tirunelveli A.C. Muthia Pub.
NU;OR
Ltd.
Cycles Cold rolled products Soda ash & Chloride
179. Vanavil Dyes & Chemicals Ltd. South Arcot
Naphthc-ls
NTJ
(BD)
Fast colour base
(Ch.) T.S- Subrarnariiam Jt. (Ch.)
TWPLRA
180. Trlpura Jute Mills Ltd.
S.K. Ghosal
. West Tripura
Jute goods
Pub.
NU;OR
(MD)
(BD)
UTTAR PRADESH
181. Ansal Properties & Industries (p) Ltd.
Pvt.
C..L. Ansal
Paper
E
Bulandshahr (BD)
182. Ajanta Textiles Ltd.
. Ghaziabad
(Ch.) S.N. Hada
Spg (blended)
M
Pvt.
183. Ajanta Tubes Ltd.
. Ghaziabad
ERW steel tubes
Pvt.
E;OR
184. Auto Tractors Ltd.
. Pratapgarh
Pub.
NU
185. Bagpat Coop. Sugar Mills Ltd.
(BD) . Meerut
Agr. tractors Diesel engines Sugar
E &M
Coop.
(Ch.) J.R. Jain (MD) S.S Biscn (Ch. & MD) O.K. Kumar (GM)
186. Benares Hotels Ltd. .
. Varanasi
Pvt.
NU; OR Hotel
187. Cawnpore Sugar Works Ltd.
Deoria
E &M
Sugar
Pvt.
(Soorajmull NagarmulJ Group)
V.R Singh
(Ch.)
D.C Sawhney
(Ch.)
188. Cawnpore Textiles Ltd. Kanpur V.N. Tandon Pvt. M Spg. & Wvg.
(Soorajmull Nagarmull Group) (GM) (cotton)
189. India E"gg. & Construction Co, Ltd. . Unnao Y.P. Mlshra Jt. NU;OR Steel pipes etc.
rBT" (CE)
yaks)
190. Kisan Coop. Sugar Factory Ltd. V.P. Sharma Coop. E &M Sugar
. Pillbhit
(GM)
CBD) M.G. Pacdc
191. Kisan Sahakari Chini Mills.Ltd. . Coop. NU Sugar
. Saharanpur (GM)
192. Kisan Sahakari Chin! Mills Ltd. Staihjahanpur B. Kumar Coop. NU Sugar
("n\ (GM)
193. Mayur Syntex Ltd. . . .. Buhndshehr P.K. J"to Pvt. NU Spg. (cotton)
(BD) (Proposed MD)
194. Moradabad Spg. & Wvg. Mills Co. Ltd . Moradabad H.R. Swamp Pvt. M Spg. (cotton/
(BD) (Ch.) blended)
195. National Textile Corpn. (U.P.) Ltd.— Kanpur D.N. Dixit Pub. M Spg. & Wvg.
Muir Mills (Ch. A MD) (cotton)
196, Orient Ceramics & Inds. Ltd. Pvt. N U ; 0R Ceramic tiles
C.K. Kejnwal
(MD)
Bulandshahr (BD)
NU
Paper
Jt. •
197. P.V.K. Papers Ltd
P. Kumar, IAS
(Ch.)
Basti (BD)
Coop.
Sugar
NU
198. Sarjoo Sahakari Chini Mills Ltd.
Lakhimpur Kheri
R.N. Trivedi,JAS
(Ch.)
199. Sarvodaya Paper Mills Ltd. Bulandshahr J.R. Sh&rma Pvt. NU;OR Paper
(BD) (MD)
200. Shivalik Rasayan Ltd. Dehradun Pvt. NU" Malathion
K.C. Sharma
(Ch.)
OR Sugar 201 Triycni Engg. Works Ltd.
Muzaffar Nagar
E &M A ;
Pvt.
K.L. Sawhnry
(Ch.)
(Sawhney Group)
Glass
R
202. U.P. Twiga Fibreglass Ltd.
Jt.
Bulandshahr (BD)
Ashok Chandra,
(Ch.) IAS
203. Universal Glass Ltd. Chaziabad 3, Jaiswal Pvt. E&M Glass bottles
(MD)
204. Uttar Pradesh Slate Mineral Dev. D"hpadun Pub NU Marble/lime stone
Ashok Chandra,
(Ch.) TAS
Corpn. Ltd.
Moradabad S.S. Bhaxta
Pvt.
NU
205. Vam Organic Chemicals Ltd.
Vinyl acetate monomer
(MD)
(BD)
PAKT HI—Sfic. 4] THE OAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3515(RB. Croros)
(16)
(17)
(15)
(18) (10)
(12)
(13)
(14)
(9)
(8)
(11)
5-00
8-46 0-75
0-57
3-46
—
8-46
—
—
Doc.
1982
1-50
13-45
13 -45
8 -64
1-50
3-31
4 06 0.38
1-76 (addl) 0 54
2-46
4'06 1 -60
245 tonnes 200 tonnes
Jen. 1982 Oct. 1981
0-26 (Eq.) 0 16 (Eq.)
1-87
3-55
I 45
0 23
0-36
3 -55
—
—
—
0-36 (addl.) Oct. 1981
—
2 10
2-92
—
0-64
1 05
2-92 0 18
1 05
5,000 tonnos
0-40
1-20 0 43 1-63
1 63
0-35
1 05
I -00
2-05
2'05
7'50
2-50
11-36
18-86
18-86
0-40 (addl.) 0.35 (addl.) 2-50
0-35
1 41
1-42
2-83
2-83
7,500 nos. T 2,500 nos. 550 TCD
0 10
0-15
0 60
0-98
0-98 0-28
—
1-80
5-20
7-38
7-38
2 18
0-35 (addl.) 0 15 (addl.) 1 80
900 TCD
Dec. 1981 April 1983 Dec. mi Sept. 1981 Jan- 1983 Jan. 1981 Oct. 1982
0-52
0-50
2-52
2-52
0-50
2 00
0-21
0-71 0-23
0-18
0-27
0-71
—
3 '00 1-50 1 -50
3-00 0-37
—
750 TCD
4.07
7 16
2-94
0 15
0-18 (addl.) 0-37 (addl.) 1 00
7 16
1-00
1,250 TCD
March 1982 Feb. 1981 Oct. 1982 June 10R?
2-60 4 10 0-02 6-72 1 02
6-72
•—•
1-02
1,250 TCD
6-23
2-27
0-92
6-23
3-96
0-33 1.25 15,840 spindles
March 1981 June 1982
(Eq)
1-22
1 '22
0-92 0-30
0-33
0-33
—
—
—
Dec. 1983
2-70 0 30 3 00
3 00
0-90
—
—
—
—
0-90 (addl.) Sept- 1W2
0-17 0-57
0-57
0-15
0 40
—
—
—
0-15 (addl.)
SB1
1-70 0 15
2-53 0-55
2-55 0-70
4,400 tonnes
—
0-64 Jan. 1982
0 09 (Eq)
6-95 2-60 3-51 0-84 6-95 0-88
0-8 8
—
1,250 TCD
Jan. 1981
0 36 0-88 0-16
0-88
—
—
—
—
0-16 (addl.)
0-46 0-06 (DP)
1 90 0-71 119
— 1-90 0-49
0 07 0-56 1,000 tonnes
July 1981
(Eq.)
—
1-20
1-76
1-76
—
0-56
_
0-24
Oct. 1981
0-24 (addl.)
0-78 1-20
1-20
0-42
0-12
0-12
1-00 0 55 1-53 0-30
1 -53
—
— 0-30
4,500 tons
June
1981
4-10 4 10
— 8-20 1-50
8-20
—
— 1-50 4.5 lakh tonn")
Junt 1982
0-35
—
0-35
—
April 1982
•Accounted for during the year 1978-79.
3516 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—Sue. 4APPENDIX B (Contd.)
(1) (2)
(3)
(4)
(5)
(6)
(7)
WEST BENGAL
206. Calcutta Electric Supply Corpn. (India) 24-parganas
Pvt.
E ; OR
Power generation
Ltd-
B. Mitter (Ch.)
207. Concast Products Ltd.
Pvt.
N U ; OR
Nadia (BD)
208. Ganges Mfg. Co. Ltd-
Hooghly
Pvt.
Non-ferrous metallic strips Wvg. flute)
M
(J.K. Singhania Group)
(BD) 24-Parganas
Pvt-
M
Spg. (cotton/
209. Hada Textiles Inds. Ltd.
blended)
Pvt.
NU;OR Automobile fan/
210. Himalaya Rubber Products Ltd.
B.K. Burman (Ch.) B.H. Singhania (MD) S-N. Hada (Ch.) O.P. Mundhrfl fMT\\\IVIJJJ
211. Megna Mills Co. Ltd.
Nadia (ED) 24-Parganas
Pvt.
M
v-Deits Spg. & wvg. (jute)
212. Metal Box India Ltd.
Pvt.
M
B.P. Bajoria (Chi P.K. Nanda (Ch. & MD)
(Metal Box Group) (6 Projects)
Metal containers Closures paper/plastic packages
NU ;OR Ball bearings etc.
213. Supremo Paper Mills Ltd. .
Pvt.
NUjOR Paper
Calcutta; Midnapore fflD); Bombay (Maharashtra); Madras (Tamil Nadu); Gurgaon (Haryana) Nadia (BD) 24-Parganas
214. Titaghur Paper Mills Ltd. .
Pvt.
E&M
Paper
S.K. Kedia (Ch. & MD) S.P. Puri (Ch.)
(BirdHeilgers Group) (2 projects)
213. West Dlnajpur Spg. Mills Ltd. .
West
V. Bhattacharya
Pub.
NU
Spg. (cotton)
(Chi
Dinalour (BD)
DELHI
New Delhi
J.P. Gaur
Pvt.
216. Jal Prakash Enterprises Ltd.
Hotel
NU;OR
(A/ID)
L.K. Mftlhotra
217 Cosmopolitan Builders & Hoteliers (P) New Delhi
Pvt.
NU
5-Star Hotel
T td
fDirl
218. Asian Hotels Ltd. New Delhi R.S. Saraf Pvt. NU 5-Star Hotel
(Ch.)
GOA
219, Automobilo Corpn. of Goa Ltd. . Goa V.M. Salgaonkar Jt. NU Auto pressed parts
fBD) (Ch.)
220. Gomantak Land Development Ltd. Goa A Tlmblo Pvt. NU Hotel
(BD) (Proposed MD)
221. Mandovl Pellets Ltd. Goa V.D. Chowgule Jt. NU;OR Iron ore
(Chowgule Group) (BD) (Ch.) pellets
POND1CHERRY
Pvt.
Paper
NU;OR
222 Pondicherry Papers Ltd.
S.K. Sundram
(Ch.)
Pondicherry (BD)
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3517(18) (10)
(12)
(15)
(16) (17)
(14)
(9)
(13)
(8)
(11)
54-30
26-05 54-30 2-60
23 '25
March 1984
2-60 (addl.)
0-80 0-17
0-80
0-12
0-68
0-70
"
0 1 (add!.) 0-70
1-22
3 82
3-82
2-bO
0-45 1 45 0-25
I-00
0-25 1 '45
—
—
. .
0-20
_^ 0-95
0-19 0 95
0-76
3 74
2-50
0-65
1-24
3'74
0-20 (addl.) 0-65
.
15-70
15-70 0-90
11 -67
4'03
June 1984 July 1982 Dec. 1981 June 1984 Sent. " 1982
1 15 (addl.)
0-25 (Eq.)
\
- .
.. „
0-50
2-30
3-05
0-75 3 05
_
37,300 tonnes
8-70
— 6-90 1 -80 8-70 1-60
April 1981 Sept. 1982
0-50 (addl.) 1-60 (addl.)
—. —
8-09
25,088 spindles
3-94
0-15
1 05
8 09
4-00
1-50 Apiil 1983
1 09
1 09
0-19
0-33 0-76
__
258 rooms
15 '50 4-50 9-50 1 50 15-50 1 -20
0-19 (addl.) 1-20
33-68
33-68 2-75
588 rooms
22-00 0-68
11 -00
2-75 March 1981 Nov. 1982 Nov. 1982
7 00
7 00 0-80
5,310 tonnes
2 '35 4-50 0 15
105
3'75 1 35 2-12 0-28 3-75 0-65
0-73
— 0-25 (Eq) — 0.08 (Eq)
. „ 104 rooms & 4 sules _
7-48
__
0-92 7-48 0-69
Dec. 1982 Set. 1981 _
0-69 (addl.)
6 10 0-47 (DP)
1-16
1-16 0 16
0-64 0 52
0 16 (addl.)
1816 -71
1228 -46
1816-71 177-81
TOTAL:
282-87
305 -83
17 -57 17 -35 212 -7.1
Amount sanctioned by way of conversion from one facility to another in respect of assistance sanctioned to 5 concerns in earlier years—Rs, 0 -62 crores(Rupee Loans) and Rs. 0 -02 crore (DM). NOTES : (i) The name of 'Industrial Group1 mentioned against certain concerns, relates to the group of interconnected undertakings registered under Section 26 of the Monopolies and Restrictive Trado Practices Act, 1959, according to the latest information available with IFCI.
(ii) The names of Chairmen/Managing Directors, etc., mentioned against individual concerns relate to the position
as at the time of sanction of financial assistance.
(Ui) Figures relating to 'Cost of the project/scheme" as 'Meana-of financing' are those envisaged at the time of sanction
of financial assistance.
(iv) The facility of deferred payment guarantee sanctioned to o"e concern at SI. No. 152 is also shown under col.
351*. THE GAZETTE OF iNfcIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX C
CLASSIFICATION OF NEW PROJECTS ASSISTED DURING 1979-80 AND 198041 ACCORDING TO THE SIZE
OF TOTAL CAPITAL OUTLAY
(Rs. Crores)
No. of new
projects
Percentage share
in project cost
Assistance
sanctioned
Percentage share
in assistance
Sice of
Capital
1980-81
1979-80
1980-81
1979-80
1979-80
1980-81
1980-81
1979-80
7-12
5-71
2-32
63-84
52-42
3 1 3'1 1-7 39'0 53 1
6'6 4 0 11-3 18'8 59 3
Upto 3 00
3 o j _4 00
4-01—5 00
5-01—10-00
Above 10 00
15 9 4 58 18
17 6 11 14 13
7 09
4-10.
9-29
14-26
25-69
5-4 4 3 18 48-6 39-9
11-7
6-8
15-4
23-"
42-3
104
Total :
61
100 0
100 0 131 -41
60-43
100-0
100-0
APPENDIX D
SECTORAL CLASSIFICATION OF A#SKTANCE—INDUSTRY-WISE—iwo-ai
( R s. C r o w s)
Corporate -Sector
I n d u s t ry
Sector
Private
Public
Joist
Total
No. of
No. of
projects
No. of
projects
projets
Assis-
tance
sanc-
tioned
N p of Aaaii-
projects tance
sanc-
tioned
Assis-
tance
sanc-
tioned
No. of Assis-
projects tance
sanc-
rioned
A M U-
tanoe
sanc-
tioned
(10)
(2) (3)
(5)
(4)
(8)
(6)
(9)
01)
0)
0)
.
19 16 -70
3 2 -30
—
2 —
2-80 —
S u g ar C o t t on t e x t i l es . . .. S i lk t e x t i l es J u te m a n u f a c t u r es . . ..
4 7 3 I
5 12
8-36
2-00
0-36
— —
2-64
25-89
1-35
1-35
5 39 1 2
1 1
28 51 4 4 1
0-20 1 15
_
0-77
1
1
24-46
39-35
3-35
1-91
1 -15
0-77
, —.
0-41
3 —
5-87
0-30
6-25
2 1 1 —
— — — — — —. — —
1 — 4
2-28 — 2-71 T e x t i le n r o d u c ts . . .. W o o l l en m a n u f a c t u r es C h e m i c a ls & c h e m i c al p r o d u c ts ' B a s ic i n d l. c h e m i c a ls — S y n t h e t ic fibres . .. — F e r t i l i s e rs . . . .. — P e s t i c i d es — O t h er c h e m i c a ls . . ..
9 3 2 1 4
5 19
4-22
0-50
0-56
3-34
1 0-69
14 4 4 1 9
12-07
4-72
9-Q3,
0-Jff
6-74
_ „
5
19 14.41
8 5-40
13-31
32 33-12
— „
1 3 —
— —-
— —
20 25 3 1 4
— —
C e m e nt P a fW & p a p er p r o d u c ts R u t y j tr p r o d u c ts . . .. P l a s t ic p r o d u c ts . . .. L e a t h er p r o d u c ts . . .. G l a ss p r o d u c ts . . ..
— —
1 — — 3 — — 2
3-69 — — 0-17 — — 3-75
— — —
—.
19 21 3 — 1 1 9 9 6 __
1
1 — 1 — 1 3 —
2-JO
— —
0-59 0-95 — 0-94 — 0 12 — 0 07 3-12 — 1-05
1
— —
2 9 12 9 1 7 2
—
— 1 —
„
—-
3 — —
— 0-50 — 1-50 —
— —
— —
—
6 1 13 3 4 2 —
—
16 4 4 3 1 9
1 1 —•
1-65
Iron & Steel
Machinery & accessories .
Electrical machinery
Agriovltural maoMowy
T r a n s p o rt e q u i p m e nt . . ..
Electricity & gas
M e t al p r o d u c ts . . ..
Mfcc. non-metaJJIc, mineral products .
Non-ferrous metals . . ..
Mfoo. manufacturing industries .
M i n i ng
H o t el
8
23-84
14-84
3-70
-~
0 17
0-30
8-73
6 01
4-61
—
3 14
2fiO
5-20
0-77
1-45
0-45
—
6-23
— 1
2-18 — — 2-26 0 69 —
24-43
19-48
3-70
0-94
0-34
0-42
8-73
9-83
7-73
2-50
4-19
3 10
7-38
2-27
1-45
2-71
0-69
7-88
253 211 -88
30 42-91
21-52
22 19-00 173
128 -45
28
Total r
PART III—SEC. 41 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3519APPENDIX E
INDUSTRY-WISE SANCTIONS AND DISBURSEMENTS—1960-81
(Rs. Crorcs)
Sanctions
Disbursement
Industry
Loans
Amount
Total
Percen-
No of projects
Percen- tage of total
sanctions
Under- Guaran- writings/ tees Direct sub- scriptions
tage of total disburse- ments
(7)
(4) (5)
(8) (1)
(9)
(2)
(3)
(6)
Cotton textiles
—.
2-30 33-90 3-15 —
2-30 37 05
11 17-5
1-7 18 0 —Cooperative sector . —Corporate sector .
3 48
2-17 22-88
36-20 3 15 — 39-35 18-6
19 7
31
25-05
Chemieali and
chemkal products
—Basic industrial chemicals
14 4 4
1-65 — 2-75 — 1-25 — 0-07 — 1-22 -
5-7 2-2 4-2 0-3 3-2
16-07 5-68 2-57 0-28 2 15
10-42 1-97 7-78 0-49 5-52
12 07 4-72 9-03 0 56 6-74
12 " 4-5 2 0 0-2 17 —Synthetic fibres ^Fertilisers . . .. —Pesticides . . .. —Other chemicals
1 9
. 26-18 6-94 ~ 33-12
32
15-6 2"-75
21-a
Sugar
—Cooperative sector . 19 16-70 — — 16 70 7'8 1-64 1-3
—Corporate sector . 9 7-76 — — 7-76 3 7 1-22 1-0
28 24-46 _ _ 24-46 11 -5 2-86 2-3
Cement 20 22-72 1-71 — 24-43 11-5 16 90 13 -3
Paper & paper products 25 18-23 1-23 — 19-48 9-2 9-31 7-3
Machinery and accessories 12 9 06 0-77 — 9-83 4'6 2-67 2 1
Iron & steel . . .. 9 8 -73 — — 8-73 4 1 11-64 9-2
Hotel 9 7-80 0-08 — 7-88 3 7 1-67 1-3
PJjMjlficfli machinery . 9 7-33 0-40 — 7-73 3-7 3-78 3-0
d V v V t v l ll U Iflvl UX1VP Jf t • •
Metal prodcts . . . , 16 5-64 1 -04 0 -70 7-38 3-5 2-92 2-3
teviWh*r nrodtKttR * 3 3-37 0-33 — 3-70 17 0-95 0 7
Transport equipment. 7 3-94 0-25 — 4 19 2-0 3-71 2-9
Silk textiles 4 3-20 0 15 — 3-35 1-6
2 3 10 _ _ 3 10 1-5 10-25
3 0-40 —
0-33
— 8 1 0-3
2-71 2-50
1.3 1-2
2-31 2-50
Miac. non-metallic
mineral products 4 j2 10 0-17 — 2'27 1 -1 1 -80 1-4
Jute manufacturers . 4 1-91 — — 191 0-9 0 71 0 6
xj/m fprrnu^ metals - • 4 1-37 0 08 — 1-45 0 7 1-26 10
0-92 0-23 — 1-15 0-5 0 40
Textile, products
0-64 0-30 — 0-94
0-4
—
1
Plastic products Woollen manufacturers 1 0 77 — — 0-77 0-4 0-45 0-69 _ _ a-69 0-3 0-83
0-77
Mining . Glass products 2 0-42 — — 0-42 0-2 0-95 0 7 Leather products 4 0'34 — — 0-34 0-2 0-67 0 5
—•
—• —
—•
— 0-89
Misc. food products .
Wood products — — —. — — 0-14
— — — — — 0 16 0-1
goir products
211-88 100-0
17-25 0 70
127 05
253 193 -93
100-0
Total .
3520 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX F
FACILITY WISE CLASSIFICATION OF TOTAL SANCTIONS,
DISBURSEMENTS AND OUTSTANDINGS—1948-1981
(Rs. CroreV)
Sanctions (net)
Amount
Number of sanctions
Assistance disbursed
Amount outstanding
3
4
5
6 1 2
1. L o a ns :
R u p ee L o a ns :
— S o ft L o a ns S c h e me
218
58-08
141 75
58-26
.
1625
848-78
442-28
650-69 — N o r m al l o a ns . . ..
1843
990-53
708-77
500-54
Sub-total :
363
152-99
47-47
" • •
122 -22 F o r e i gn C u r r e n cy
Total :
2206
1143-52.
830 -99
548 01
2. U n d e r w r i t i n gs :
E q u i ty s h a r es . . ..
468
61-63
17-22
20-81
157
10-66
4-60 P r e f e r e n ce s h a r e* . . ..
8-23
32
0 78
15-63
8-99
D e b e n t u r es
• * • •
2-60
657
87-92
38 03
T o t al : •
3, D i r e ct S u b s c r i p t i o ns :
99
4-88 E q u i ty s h a r es . . ..
10-85
6-13
8
0-32
0-83
0-32
P r e f e r e n ce s h a r ei ~\ .
" • • *
4
0-24
2-03
2 03
* • • *
D e b e n t u r es . . . ..
8-48
7-23
111
11-92
T o t al :
* • • •
2974
1239-92
876 -25
582 -53
• • * •
T o t al (1 to 3)
4. G u a r a n t e es :
29-52
45
28-76
0-34 for d e f e r r ed p a y m e n ts
6
23-61
23-53
f or f o r e i gn l o a n* . . ..
Si
53-13
52-29
0-34
• * * •
Total : . . i
3025
1293-05
928 -54
582 -87
Grand Total :
PART m—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3521APPENDIX G
STATE/TERRITORY-WISE DISTRIBUTION OF NET FINANCIAL ASSISTANCE
SANCTIONED AS ON THE 30TH JUNE, 1981
(After adjustment of cancellations/withdrawPls)
(Rs. Crores)
Assistance sanctioned
No. % of
of Rupee Foreign Undcr- Guarantees Total Total
JState/Territory projects loans currency • writings/ for deferred
sub-loans Direct payments on
subscrip- machinery and
tions for foreign
loans
0) (2) (3) (4) (5) (6) (7) (8)
Andhra Pradesh . * . 117 79-29 6-79 1011 9-26 105 -45 8-2
Assam • i • 11 6'88 1 -37 3-78 — 12-03 0-9
Bihar 50 35 -51 5 01 A -54 3-30 48-36 3-7
Gujarat. . 119 86-06 ' 10-97 9-43 1 -59 108 05 8-4
Haryana' . 61 31'23 4-57 3-68 0 19 39-67 3-1
Himachal Pradesh " 12 5-04 1 -57 1 15 — 7-76 0-6
Jammu & Kashmir * 8 4-25 — 0-07 — 4-32 0-3
Karnataka 113 88-41 10-02 6-54 2-21 107 18 8-3
Kerala 41 36-29 6-98 1 -85 1 -72 46-84 3-6
Madhya Pradesh. 38 24-51 7 46 4-58 0-40 36 -95 2-9
Maharashtra . - • 276 191 -78 29-91 14-20 3 -76 239 -65 18'-5
Meghalaya • 2 2-70 — 0 04 — 2-74 0-2
Nagaland 1 0.50 — — — 0-50 —
Orissa 28 20-16 5-46 2-38 —, 28-00 2-2
Punjab 51 43-08 5-38 5-33 0-10 53-89 4-2
Rajasthan . 57 47-75 7-84 5 66 8-56 69-81 5-4
Tamil Nadu 123 91 -97 15-71 9 03 12'27 128 -98 10 0
Trlpura 1 1 16 — — — 1 -16 0 1
Uttar Pradesh 141 105-69 21 04 7-09 3-54 137-36 Ifl-6
West Bengal 129 68-19 11 -22 4-78 5 32 89-51 6-9
Andaman & Nlcobar . 1 0-27 0-22 — — 0 49 —
Delhi F * 13 11 01 1-47 0-54 0'83 13-85 1 1
• • 8 7-17 — 1-53 — 8-70 0-7
Goa .
3 1-63 — 0 09 0 08 1 -80 0-1
Pondicherry • • •
TOTAL: 1404 990 -53 152-99 96-40 53 13 1293.05 100 0
24—369GI/81
3522 THE GAZETTE OF TNDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX H
INDUSTY-WISE DISTRIBUTION OF NET AS PER THE NATIONAL INDUSTRIAL
{After Adjustment of
(Rs. Crores)
Industry Group
Assistance sanctioned
N.I.C. Code Number
Total
No. of projects
% of Total
Rupee loans
Foreign currency Sub- loans
Under- writings/ Direct subscrip- tions
Gurantees for defe- rred pay- ments on machinery and for foreign loans
Minig and quarrying :
„
100
1 20
—Coal mining
3
—
—
1-20
0 1
—Crude petroleum
110
—
—
1
—
0-3
3-50
3 50
4-49
5
Metal ore mining
120,125,127
4-04
0-45
0-4
—
—
Food Products :
—
— Sugar
206
0 15
186'58
-197
0-85
14-5
187 -58
_
- -Other food products
4-42
0-4
15
0-48
200, 201,202,204 210 211212,217,
0-55
5-45
219,222
296
Textile
231,232,241,244, 245,247,248,24,9
193 -75 5.42 8-88
16-3
3 07 211 12
—
Jute manufactures
16'56
24
0 01
251
3 3
16-77
„
0-20 —
—
.—
I
Coir products
0-27
268
0-27
—
Wood products
9
.270, 278
2 '68
0-4
2-74
0 43
5 85
8G
Paper and paper products :
77-96 11 -52 9-66
280,281
8 1
104-65
2-79
5-51 —
9
Leather products
0-25
0-3
0-53
290,291
3-57
24
Rubber products
22-27 5-09
2-88
300 to 303
2-66 32 -90
2-5
Chemicals and chemical products :
310
—Basic industrial organic and inorganic chemicals and gases
72
63-29 4 45 10-50
4-32 92-56
7,-2
23
—Fertilisers and pesticides
35-74
6-80
311
8-05
12-79 63-38
4-9
316
--Synthetic and other man-made fibres
21>O9
25
12-69 6-25
40-77
3-2
0-74
316
—Synthetic resins and plastic materials
4'75
14
5-84
1-08
11-67
0-9
16 78
47
—Other chemicals and chemical products
305,312, to 315, 318,319
2-80 3-38
22-96
1-8
Non-metallic mineral products ;
_
—Glass and glass products
6-29
17
3'86 0 87
321
0<9
11-02
66
—Cement
93'03 9-42
324,328
6-94 0 18 109 57
8-5
320,323,329
.
13-83
—-Other non-metallic
mineral products 30 3-44 2-20 19-47 1-5
Basic metal and alloy
industries :
330 to 332 —Iron & steel and ferro-alloys 87 56-60 11 39 7 -61 1 -03 76-63 5-9
333 to 336, 339 —Non-ferrous metal industry 31 12-49 1 .11 3-58 19-45 36-63 2-8
340, 341, 343,
344, 349 Metal produ cts except
machinery and transport
equipment 54 13-86 9-67 3-87 1 -28 28 68 2-2
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3523
APPENDIX H (Contd.)
FINANCIAL ASSISTANCE SANCTIONED CLASSIFICATION : 1948-1981 cancellations/ withdrawals)
(Rs. Crores)
Assistance sanctioned
N.I.C. Code
Industry Group
Total
% of Total
No. of projects
Rupee loans
Foreign currency sub- loans
Under- writings/ Direct subscrip- tions
Guarantees for defe- rred pay- ments on machinery and for foreign loans
Machinery except electrical machinery :
350
1.04 0-56
7.61
0-6 —Agricultural equipment and parts
6 01
1 04 351 to 359
—-Machinery and accessories
83 31 -77 17 13 4-53
54-47
4-2
Electrical machinery,
360 to 364 367, 369
apparatus, appliances and parts
64
3'1
23 -37 13 -35 3-64
40 -36
Transport equipments and parts :
—Locomotives, railway wagons
371,272
—-
—.
0 1
1-23
0 10
1-33 and coaches
4
374
2.3 —Motor vehicles and parts
17-73 9 65 2-64
30-02
27
—
—Motor cycles, auto cycles,
375
7-33 1 -66 0-63 0-27
17
scooters and parts
0-8
9 89
376
1 -98 0 16
4
—
—
0-2 —Other transport equipment
2'14
4 41
247,261,380, 382, 385,824
Miscellaneous manufacturing industries
J -61 0 83
6-85
14
0.5
25-58
1 -67
11
40,41
Electricity and gas
27-25
—
—
2'1
691
0-72
34
Hotel industry
20-79
0 79
—
22 -30
1-7
710
0 14
—
1
Shipping industry
0 14
—
—
—
990 -53
96-40
1404
152 -99
53-13 1293 05 TOTAL :
100 0
3524 THE GAZETTE OF IRDJA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX I
INDUSTRY-WISE DISTRIBUTION Ow SANCTIONED IN
(After ddfusttnents if
Industry Group
Jammu
Andhra Assam Bihar
N.I.C Code Gujarat Haryana Hima- Karna- Kerala
Number Pradesh chal & taka
Pradesh Kashmir
Mining and quarrying : ,
100 —Coal minlDg 0-50 -~- . ....
110 —Crude petroleum 3-50 __ . _
120,125,127 Metal ore mining — — — — — 1 13 —
Food products :
206 —Sugar 19 20 I -85 2 17 9-43 2 -8" 15-53 1 80
200,201,202^04
210,211,212,217, —Other food products 0-88 — 0-33 — 0-27 — — 0-92 —
219,222
231,232,241,244, Textiles 4-70 0-26 1-63 29 65 9-51 2 31 0-84 13-22 2-93
245,247,248,249
251- Jute manufacture 0-98 0 79 0-34 _ __
268 Coir products . —~ 2-27
270,278 Wood products 1 41 1-14 —, 0-07 — — — 1-68
280,281 Paper and paper products 16-34 2-32 8 10 4 01 7 08 2-04 — 18-03 1-79
290,291 Leather products 1 11 — 0-92 — 0-92
300 to 303 Rubber products — 0-31 — — — — 1-65 3-29
Chemicals and chemical products
310 —Basic industrial organic and 6-27 2-79 10 06 , 3-50 11-60
inorganic Chemicals and gases
311 —Fertilisers and pesticides 11 16 0-44 — 16-20 0-50 0-20 — 2-36 3 06
316 —Svnthctic and other man- 5-24 10 72 0-23 4'85 1 11
made fibres
316 —Synthetic resins and plastic
materials 1-73 0-90 0 91 — 0-83 0 15
305,312, to 315, —Other chemicals and 1-96 0 45 2-33 0-82 0 03 0-96 S-44
318, 319 chemjeal products
Non-metallic mineral products :
321 —Glass and glass products 1-65 — 116 0-34 — —. 0 02 0-40
324, 328 —Cement 18-22 — 5-18 10 89 — — 100 17-73 3 00
320,323, —Other non-metallic 0-79 3 18 0-79 104 0-03 . ,
329 mineral products
Basic metal and alloy Industries :
330 to 332 —Iron & steel and ferro-alloys 3 17 0 03 17-49 . 5-35 4-64 0-48
333 to 336, 339 - N on ferrous metal industry —, 0 90 _ — _ 2-48 3-09
340,341.343, Metal products except machinery
344. 349 and transport equipment : 0 55 — — 1-47 2-47 — 4-26 0-86
Machinery except electrical
machinery i
350 —Agricultural equipment
aud parts — — — — 111 — — 0-33 0-33
351 to 359 —Machinery and accessories 5 11 — 1-39 6 53 0 93 1-40 — 4-77
360 to 364, Electrical machinery, apparatus,
367, 369 appliances and parts 2'06 — 0-31 0-93 3-01 0-95 — 5-40 5 16
Transport equipment and parts :
371, 372 —locomotives, railway wagons
and coaches 0 15 —. — — — 0 88
374 —Motor vehicles and parts — — 0-25 0-90 0-30 — — 2-73 _
375 —Motor cycles, aUto cycles,
scooters and parts 0-54 — — 1 86 — — 0 50 —-
376 —Other transport equipment — — — 0 75 — — —
247, 261,380, Miscellaneous manufacturing
382, 385, 824 industries 0 59 — 2-26 1 24 0-63 — — 0-26
40.41 Electricity and gas _ 0-80 — 0-90 — — — -*—
691 Hotel industry 1-79 — 0-81 — — 0-20 1-65 1 11
710 Shipping industry — —. — — — — — — —
TOTAL : 105 -45 12 03 48-36 108 -05 39 67 7-76 4'32 107 18 46-84
No. of projects State-wise : (117) (ID (50) 019) (61) (12) (8) (113) (41)
PART III^-SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3525
APPENDIX I (Contd.)
NET FINANCIAL ASSISTANCE EACtil STATE : 1948-1981
(R.3. Crorcs)
cancellations/withdrawals)
Total Orissa Punjab
No. of Projects
West Bengal
Union Territories
Madhya Pradesh
Tamil Tripura
Nadu
Uttar Pradesh
Maha- Megha- Naga- rashtra laya land
Rajas- than
—
0-70
_- _ _
—
—
1-20 3-50 4.49
1-76
3 1 5
0 75
0-85 —
—
1-50
197
187 -58 2-50 69 -58 — 0 -50 2 05 7-27
16 -72 —
32-17
2-45
— _
0 07
5-45 ' 1 -47
0-41
0-42
15 — 0-68 —
—
—
45.45 — „
3-92 211 -12
8-78
7-88
5 17
15-92 —
24-45
296
21-44
13 06
— 116
11-85
1-65
jO-48
11-03
0-87 0-65
8-42 -
0-76
3-75 7 16 0-73
0-20 10-71 0 16 7-91
16-77 0-27 5-85 104-65 3-57 32.90
1-38
24- 1 9 86 9 24
2-46 —
0-36 —
3-85 —
4-85
2-36 — —
6-36
0-94
—
—
3-71
92-56 16 73 — — 167 4 11
21 -57 —
6-60
3-95
72
0-75
—
—
11 -90 4-70
0 32 — — 5-32 — —
2-58 2-35
63-38 40-77 0-84 1-96
6-25 2 69
6 -82 1 -60
23 25
0-30 1-78
1-96
2-20 0-76
0-45
11-67 22-96 3-60 — — 2-43 0 04 — 0-27 0 74
105 — 2-54 -
14 47
1 -31
—
1 36 3-88
3-79 4-91 2-09
2-35 — — 6-00 2 70 — 1-15 — —
8 89 0-57
3-09
11-02 109-57 19-47 14-21 1-74
1 08
15-48 —
0 04 —
17 66 3D
3 07
5-43
—
19 -07 _ „ 3:30 — —
4-97 —
12 -80 —
3-41 6-13
5-70 0-71
2-51 7-22
76-63 36-63
87 31
—
6-59
1-95 — -
0-66
1-82 — 4-49
—
3-56
28-68
54
110
—
1 19 — — 15 14 — —
0-88
0-75
8-80
0 15 —
7-74 —
3-40 0-40
0-63
9 83
7-61 54-47
8-67 — —
1-51 —
1-34
2 00 1-35
1-95
1-46
2-22
2 04
40-36
64
—
—
1064 — —
0-93
2'29.
6-61 — 1-62
0-30 2-70
1 -33 30-02
1-05
4 27
2-49 — —
0-43
2-56 —
0-75
—
0-33
_
0-43 1-39
9-89 2-14
17 4
0-42
0-43
0-37
—
0-40 8-38
0-49 1-56 —
0 01 7-50 1 85
10-08
0-24 — — 9-67 - - 2-76 — - 0-14 — —
6-85 27-25 22-30 0 14
14 11 34 1
239 65 2 -74 0 -50
36 -95
28 00 53-89 69-81 128 -98 1 -16 137-36 89-51
1293 05
24-84
1404
t
(38) (276) (2) (I) (28)
(57) (123) (1) (141)
(25)
(129)
(1404)
(51)
3526 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX J
SIZE-WISE DISTRIBUTION OF NET FINANCIAL ASSISTANCE
SANCTIONED : .1948-1981.
(According to amounts sanctioned for each industrial concern)
(Rs. Crores)
Cooperatives
Limited companies
Total
Loans
Loans
Loans
No. of con- cerns
No. of con- cerns
No. of con- cerns
Under- writ- ings/ Direct sub- scrip- tions
Under- writ- ings' Direct sub- scrip- tions
Guarantees for defer- redpay- Total ments on machinery and for foreign loans
Guarantees for defer- red pay- Total ments on machinery and for foreign loans
_
—
—
—.
1. Amounts not exceed- ing Rs. 10 lakhs
93 2-65 2-69
93 2-65 2-69
5-34
5-34
0
2. Amounts esceeding Rs. tO lakhs but not exceeding Rs. 20 lakhs
1 •20 •47
48
5-76 1-55
5-96
7-31
1-55
7-51
3. Amounts exceeding Rs. 20 lakhs but not exceeding Rs. 30 lakhs
61
3
14 16 1-74
0 •75
0 04 15-94 64 14-91 1 74 0-04 16 69
4. Amounts exceeding
Rs. 30 lakhs but not exceeding Rs. 40 lakhs
9 3
96
•30
0-20 34-55
30-82 3 -53
|34 20 3-53 0-20 37-93
105
5. Amounts exceeding
9
3 11
Rs. 40 lakhs but not exceeding Rs. 50 lakhs
4 •24 100
0-39
109
42-75
46-99 3 11
46-25
0 39 50-49
6. Amounts exceeding
60
Rs. 50 lakhs but not exceeding Rs. 60 lakhs
15
29-82
8 •52
3 59
75 38-34 3-59
33-41
41-93
7. Amounts exceeding
13-
72
42 95 3-35
8 •55
0-5$ 46-88
Rs. 60 lakhs but not exceeding Rs. 70 lakhs
85 51-50 3-35 0-58 55-43
8. Amounts exceeding
16
3-31
Rs. 70 lakhs but not exceeding Rs. 80 lakhs
12 •43 52
51-87
35-88
0-25 39-44
0-25
68 48-31 3-31
31
9. Amounts exceeding Rs. 80 lakhs " but not exceeding Rs. 90 lakhs
33
28-32
36
25-14 3 18
3-18
•74
60 06
69 56-88
10. Amounts exceeding
50
23
Rs. 90 lakhs but not exceeding Rs, 1 crore
43-10 4-35
22 •61
0-58 48-03
0-5S 70-64
73 67-71 4-35
11. Amounts exceeding
326
63
66-00
92 •52
685 -55
802-64
Rs 1 crore
389- 778-07 66 00
895 16
51-09
51-09
96-40
94 990 958 -58
53-13 1108 11
188
1178 1143 -52 96-40 184
53-13 1293-05 TOTAL:
PAR? Ill—SEC. 43 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3527APPENDIX K
Scheme of Concessional Finance for the Development
of Notified Backward Districts/Areas
With a view to providing greater Inducement to entrepreneurs to spread, out in relatively under-developed areas in the country, the Industrial Finance Corporation of India (IFCI) is operating the scheme of providing financial assistance on concessional rates to industrial projects in sucb areas since the 23rd July, 1970. The salient features of this scheme of concessional finance for units in notified less developed districts/areas in the light of reviews and modifications made from time to time are ps under '
1. Location :
Effective from the 2nd March, 1981, only new eligible industrial units setup cither as new undertakings or as new units of existing industrial concerns to be located in backward districts/areas in the various States or Union Territories selected for such assistance* by the Central Government from time to time are eligible for assistance on concessional rate.
2. Scope of the Scheme :
Concessional finance is now confined to only new eligible industrial units (including hotels) both in the corporate as well as co-operative sectors, and, is not available with effect from the 2nd March, 198i, to existing units located in notified less developed districts/areas in connection with their scheme s of expansion, diversification, modernisation or lehabilitation.
3. Celling of Aisfetance :
The overall ceiling in respect of loans including deferred payment guarantees extended "on concessional rate from the Corporation individually continues to be Rs. 1 00 ciore. However, under the consortium financing where other institutions are also participating, the ceiling for the assistance on concessional rate in aggregate continues to be Rs. 2 00 ciores. Additional loans provided to new units in specified backward areas for financing over-runs in original cost estimates are eligible for concessional rate provided the assistance in aggregate under consortium financing does not exceed Rs. 2 00 crores. If the additional loans for meeting the overrun is not covered within the consortium financing celing of Rs. 2 00 crores for a new unit -In a specified backward area, it would attract the normal lending rate of interest. Within the ceiling, new units of an exist- ing concern would be eligible for assistance on concessional rate if they envisage a different line of end-product. In other words, con- cessional finance within the specified cciliigs would be available to new projects dn unit-wise basis applying the same parametric values as are applicable for the grant of Central Investment Subsidy by the Central Government.
4. Terms : (In respect of new units only—Effective from the 2nd March, 1981)
(/) Rate of interest
As against the normal lending rate of interest on rupee and foreign currency loans at 14% p.a., lower rate of interest, viz., 12 5% p.a. on rupee and foreign currency loans is chargeable under the Scheme. Ifanewunt in a specified backward area is availing itself of both the rupee and foreign currency loans under consortium financing and the aggregate of both the rupee and foreign currency loans is more than Rs. 2 00 crores, then for the purpose of applying the concessional rate of interest, first, the entire rupee loan would be taken up and if there is any balance left out, then, tho remaining portion of the foreign currency loan will attract the concessional rato of interest.
(it) Period of repayment of loans
IFCI's normal practice is to allow initial moratorium upto three years before the first repayment of the principal amount of the loan commences. * In the case of new undertakings in less developed districts'areas, this period can be extended upto five years from the date of first disbursement of the loan, on a case to case basis, having regard to the projections of profitability and ways and means position of the concern. Likewise, against the normal period allowed for repayment of loans, the period in the case of projects coming up in less developed districts/areas may be extended on the merits ot each case having regard to tjto con- cern's profitability potential and cash flow position.
(Hi) Promoters' contributionjmd debt equity ratio
As against the normal requirement of 20% promoters' contribution to the capital cost of the project, in tho case of projects set up in notified backward districts/a.reas, a contribution of about 17 -5 % to the total project cost (reduced to 10"/ in respect of projects set up in identified hill area-.) might be accepted depending upon the merits of each case. Eifective from" the 29th April,' 1981, it has, however, been decided to reduce the aforesaid norm from 17 5% to 15% of tho project cost depending upon the merits of each case, in those cases where the project are set up by non-MRTP concerns in notified back- ward districts/areas. Following the level of the promoter's contribution in each case somewhat liberal debt equity ratio might also be accepted under the scheme haying regard, inter-alla, to the financial status, the standing of the promoters, the gesta- tion period ofparticular project, its profit potential and other relevant factors.
(tv) Participation in equity and preference capital
Depeding on the merits of each case, IFCI might consider participation by way of underwriting or otherwise in the share capital of an industrial concern located in less developed districts/areas to a greater extent as compared to projects located elsewhere.
(v) Reduction in other charges
In the case of Rupee Loans, 50% reduction can be made in IFCI's normal charges in respect of commitment charge and legal charges, • while 25% reduction can be given in the net effective rate of commission on deferred payment guarantees 50 V reduction can also be made in respect of underwriting commission for share/debentures underwritten.
**Llst attached.
3528 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX K(ConW.)
Consolidated List of Districts Areas Notified by the Central Government as quallfylnfl for Concessional Finance from Public Financial
Institutions
Netes t (1) Districts/areas which are also eligible for the Central Scheme of 'Central Investment Subsidy have been marked asterisk (•).
(2) The sign '£' against a district/area denotes the district/area as it existed prior to its rc-organisation. t he districts • which may be deemed to havo been added to the list as a result of re-orgamsation of the districts are given In the end.
(3) The sign '$' denotes the district as reorganised. (4) The figures in brackets below each State denote the total number of districts as re-organised in each State and the figures in brackets after notified backward districts in each State denote the total number of notified backward districts on reorganised basis in each State.
States/Union Territories
Selected Districts
1.
2
States i
1, Andhra Pradesh
Anantpur, Chittoor, Cuddapah, Karimnagar, Khammarn, Kurnool, Mehbubnagar, Medak, Nalgonda, Ncllore, Nizamabad, Prakasam, Srikakulam* and AVarangaJ.
(23)
(14) Cachar*, Goalpara*, Kamrup*, Mikir Hills*. North Cachar Hills, New Lakhimpur* 2, Assam
and Nowgong*.
(10)
(fr 3. Bihar
(31)
Aurangabad, Begusarai, Bhagalpur, Bhojpur*, Champaran*£, Darbhanga*£, Gaya, Monghyr, Muzaffarpurf, Nalanda, Nawad&h, Palamau*. Purnea*£, Saharsa*, Santhal Parganas*, and Saran£.
(24) Amreli, Banaakantha, Bhavnagar*. Broach, Junagadh, Kutch, Mehsana, Panch- mahals*, Sabarkantha and Surendranagar*.
4. Gujarat (19)
Bhiwani, HlssarJ, Jind and MohindergarhS.
(10) (4) t. Haryanu (12)
6. Hlmacbal Praesh
(12)
7.- jammu & Kashmir
Chamba*, Kangra*£, Kinnaur, Kulu*, Lahaul and Spiti, Sirmur* and Solan*. (9) Anantnag*, Baramulla*. Doda*, Jammu*, Kathua, Ladakh, Poonch*, Rajouri, Srinagar* and Udhampur.
(10)
(10)
8. Karnataka
(19)
Belgaum, Bidar, Bijapur, Dharwar*, Gulbarga, Hassan, Mysore*, North Kanara, Raichur*, South Kanara and Tumkur.
(11) Allcppey* Cannanore*, Malapuram*, Trichur and Trivandnjm. (5) 9. Kerala f in
10. Madbya Pradesh
(45)
11. Maharashtra
Balaghat, Bastar, Betul, Bilaspur, Bhmd, Chhatarpur, Chindwara, Damoh, Daiiaf Dhar, Dewas, Guna, Hoshangabad, Jhabua, Khargone, Mandla, Mandsaur, Morena, Narsimhapur, Panna, Raigarh, Raipur, Raisen, Rajgarh, Rajnandgaon, Ratlam, Rewa, Sagar, Sconi, Shajapur, Shivpuri, Sidhi, Suiguja, Tikarnga'rh, Vidisha and new Sehore District. (36) Aurangabad*, Bhandara, Bhir, Buldhana, Chandrapur*, Colaba (Rpigarh), Dhulia, Jalgaon, Nanded, Osmanabad, Parbhanl, Ratnagiri* and Yeotmal.
(26)
12. Manlpur
All tho six districts*
(13) (6) (6)
13, Meghalaya
Garo Hills*, £, Khasi Hills* £ and Jalntia Hills*.
(5)
•0)
14. Nagaland
Kohima*£, Mokokchung*£ and Tucnsang*£.
(j) (7)
15. Ortssa
Balasore, Bolangir,*, Dhenkanal,*, Kalahandi*, Keonjhar*, Koraput*, Mayurbhanj* and Phulbanl. .
(7) _
Bhatinda*£, FerozepurJ, Gurdaspur, Hoshiarpur* and Sangrur.* (6) (13) 16. Punjab (12)
17. Rajastfaan
Alwar*, Banswara, Barmer, Bhilwara*, Churu*, Dungarpur, Jaisalmor, Jalore, Jhunjhunu, Jhalawar, Jodhpur,* Nagaur*, Sikar, Sirohi, Tonk and Udaipur*.
(26)
(16)
All the four districts of Gangtok*, Gylashmg*, Mangan* and Namchi*.
18. Slkkim (4)
(4)
19. Tamil Nadu
(16)
20. Tripura
Dharamapuri, Kanyakumari, Madurai, North Arcot, PudukkottaJ, Ramanathay1- puram. South Arcot, Thaniavur and Tiruchirapalli, AU the 3 districts*.
fm (3)
PART HI—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3529APPENDIX KiContd)
(J6)
21. Uttar Pradesh Almora*, Azamgarh, Badaun, Bahraich, Ballia*, Banda, Barabanki, Basti*, Buland- ihahr£, Chamoli, Deona, Etah, Etawah, Taizabad*, Farrukhabad, Fatehpur, Garhwal, Ghazapur, Gonda, Hamirpur, Hardoi, Jalaun, Jaunpur, Jhai)si*£, Main- pun, Mathura, Moradabad, Pihbhit, Pithoragarh, Pratapgarh, Rae Bareli*. Rampur, Shahjahanpur, Sitapur, Sultanpur, Tchn Garhwal, Unnao* and Uttar Kashi. (39) 22. West Bengal Bankura, Blrbhum, Burdwan, Cooch-Bchar, Darjccling, Hooghly, Jalpaigun, Malda, (16) Malda, Midnapur*, Murshidabad, Nadia*, Purulia* and West Dmajpur
(13)
Union Territories'
1. Andaman and Nicobar
Islands* Entire Territory.
2. Aronachal Pradesh Entire Territory.
3. Dodra and Nagar Hatell Entire Territory.
4. Goa, Daman and Dlu Entire Territory (excluding the area within the Municipal limits of the Territory's capital).
5. Lakshadweep Entire Territory.
6. Mlzoram Entire Territory.
7. Pondlcberry Entire Territory (excluding the area within the Municipal limits of the Territory's capital).
Districts as they existed before their reorganisation and after their reorganisation
District as it existed before its reorgani- Districts on the reorgniscd basis State
sation
Champaran
1. Bihar
Dharbhanga
Muzaffarpur
1 West Champaran 2 East Champaran 1. Madhubani 2. Darbhanga 3 Samastipur 1, Sitamarhl 2. Muzaffarpur 3. Valshah
Purnca
Saran
Kangra
2. Hlmachal Pradesh
1. Katihar 2 Purnea 1 Gopalganj 2 Siwan 3. Saran 1. Kangra 2 Hamirpur 3. Una
aro Hills
3, Meghalaya
Khasi Hillsi
1 East Garo Hills 2 West Garo Hills 1 East Khasi Hills 2 West Khasi Hills
4. Nagaland
Kohima Mokokchung Tuensang
1 Kohima 2 Mokokchung 3 Tuensang 4. Phek 5 Zunheboto 6 Wokha 7. Mon
Bhatinda
5. Punjab
1 Farldkot 2 Bhatinda
Jhansi
6. Uttar Pradesh
1 Lalitpur 2 Jhansi
Notes (In relation to Scheme of Central Investment Subsidy only).
23—3bytil/Bl
3530 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4APPENDIX K (Concld.)
(I) Andhra Pradesh
Srikakulam district and Five areas:
Two 'Areas' from Rayalascoma region comprising 22 blocks, Area 1 comprising 13 blocks viz., Chittoor®, Bangaru- palem®, Puhcherla®, Pattur®, Chandragiri and Kulahasihi (from Chiltoor district) and Kodur, Rajampct, Sidhout, Cuddapah, Kamalapuram, Proddatur and Pulivendla (from Cuddapah district) ; and Area II comprising 9 blocks viz,, Tadpatn, Singanamula, Gooty, Kudair® (from Anantapur district); and Dhone, Kurnool, Banganapali®, Nandyal® and Giddalur® (from Kurnool district); thcrcc 'Areas' from Telangana region comprising 43 blocks, Aiea I compris- ing 14 blocki, viz., Mahabubnagar®, Jadcherla® ShadnagarjJ, Kalwakinihy and Amangal (from Muhbubnagar district); and Nalgonda, Mungadi, Nakrakal, Suryapct, Kodad®, Kuzurnagar® Miryalaguda®, Peddavora® and Dcvarakonda® (from Nalgonda district); Area JI comprising 14 blocks viz., Khamma, Thirumalaipalem, Kallur®, YellanduiJB Kothagudam®, Aswaraopeta®, Burgampad® and Bhadrachalam^l, (from Khammam district); and Mahbubabad, Narsampct, Hanamkonda, Ghanapur®, Jangaon® and Mulug® (from Warangal district); Area III comprising 15 blocks viz., Zahccrabad®, Patancheruvu®, Narsapur®, Medak®, and Siddlpet (from Medak district); Yedapalli®, Nizamabad®, Kamareddy® and Domakonda® (from Nizamabad district); and Sircilla®, Karimnagar, Sultanabad, Peddapanli, Matithani® and Huzurabad (from Karimnagar district) are eligible for the Central scheme of Investment sub- sidy.
(H) Haryana
Reorganised Mohindergarh district (composing Mohindergarh and Rewari Sub-Divisions), Bhiwani district (compris- ing Bhiwani and Dadri*® Sub-Divisions) and one 'Area comprising 8 Blocks viz., Hissar Block No. 1 and Barwala'r Block (of Hissar Tehsil), Hansi Block No. 1 (from Hansi Tehsil), Bahuna Block (from Fatchabad Tehsil), Tohana Block/Tchsil (from Tohana Tehsil)—from the district of Hisiar, Jind Block and Julana Block (from Jind Tehsil), Uchana Block (Narwana Tehsil)—from the district of Jind—are eligible for the Central scheme of investment subsidy.
(Ill) Madhya Pradeih
Six Areas :
The 'Area' from Eastern Region comprising 12 blocks viz., Korba, Baloda, Champa, Kota Masturi and Bilha (Bilas- pur blocks (from Bilaspur district); Bhatapara, Simga, Tilda, Dharsiwa (Raipur), Abhanpur and Rajim blocks (from Raipur district); 'Area'® from Northern Region comprising 9 blocks viz., Shivpuri and Karera (from Shivpuri dis- trict); Datia and Seondha (from Datla district); Bhind, Mehgaon and Gohad (from Bhind district) and Morena and Jaura (from Morena district); the 'Area' from Western Region comprising 10 blocks viz., Dewas and Tonk Khurad blocks (from Dewa district); Guiana, Shujalpur and Shahjapur blocks (from Shajapur district); Panchor (Sarangpur) and Biaora blocks (from Rajgarh district) and Chachaura, Raghogarh and Guna blocks (from Guna district); the 'Area'® from Western Region II comprising 12 blocks viz., Potlawad and Meghnagar (from Jliabua district), Badna- war, Dhar and Nalcha (from Dhar district), Maheshwar and Barwaha (from Khargone district), Ratlam and Jaura (from Ratlam district), Mandsaur, Mahargarh and Nccmuch (from Mandsaur district); the 'Area'® from Central Region comprising 11 blocks viz., Bina, Itawa, Khuri, Banda (Binaika), Rahatgarh, Sagar, Shahgarh (Amarmau) (froir Sigar district), Tikamgarh and Baldeogarh (from Tikamgarh district), Vidisha and Oyaraspur from Vidisha district) ana* Chhatarpur (from Chhatarpur district), the 'Area®' from North Eastern Region comprising 11 blocks viz., Rewa and Raipur (Garh) (from Rcwa district), Majhauli Sidhi, Deosar, and Waidhan (from Sidhi district), Sonhat, Baikunthpur Mahsadragarh, Surajpur and Ambikapur (from Surguja district) are eligible for the Central scheme of investment subsidy'.
(IT) Tam'l Nadu
Three Areas/Tracts comprising 33 Taluks :
One 'Area comprising 12 Taluks (Including Sub-taluks) viz. Ramanathapuram Mudukulathur Sivaganga Parmakudi Thiruvadanl, Karaikudi and Thirupathur Taluks (from Ramanathapuram district) Mclur Taluk (from Madurai dis- trict) Pudukottai Thirumayam, Alangudi and Kuiathur Taluks (from Pudukkottai district); two 'Areas® one comp- rising 11 Taluks of Dharmapuri Palacode, Hobur Dcnkanikottah Krishnagiri, Uthangarai, Harur (from Dharmanuri district), Tirupattur, Vaniyambadi Vollore Walajapet (from North Arcot district) and the other area comprising 10 Taluks of Aruppukotti, Virudhunagar, Sattur, Srivillirmttur, Rajapayalam (from West Ramanathapuram of Ramanathapuram district), Tirumangalam, Usilampatti, Nilakottai, Djndigul and Vedasandur (from Madurai dislnct) are eligible for the Central scheme of investment subsidy.
©Represents Dislricts/Sub-Divisions/Taluks/BJocks/Tchsils selected after 10-7-1972.
•Represents districts as they existed prior to their recent reorganisation.
PART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3531APPENDIX L
INTEREST RATE STRUCTURE OF IFCI
R a te of interest % (p.a.)
p r e v a i l i ng u p to 3 0 - 6 - 1 9 80
Effective from 1-7-1980
Effective from 2-3-1981
1 2
3
5
4
11-85
14-00 Basic lending rate . . . . . . ..
1.
n-oo
2. Concessional rates
(a) Units in specified backward areas upto Rs. 2 crores to a u n it in t he a g g r e g a te . . . . . ..
10-25 8-10
12 -50® 12'50 (b) On Soft component under the Soft Loans Scheme .
9-50 7 -50
Bridging/Interim loans
3.
12-85
12 '00
15 00 (a) Normal loans . . . . . . .. (b) Units in specified backward areas upto Rs. 2 crores to a
u n it in t he a g g r e g a te . . . . . ..
13 -50(8
13 'SOO* (c) On soft component under the Soft Loans Sclem*
10-50 8 50*
11-25 9-10*
F o r e i gn c u r r e n cy l o a ns
4.
11-00
11 -85
14 00 ( a) N o r m al l o a ns . . . . . . .. (b) Units in specified backward areas upto Rs. 2 crores to a
10 00
10-75
12 -50® u n it in t he a g g r e g a te . . . . . ..
(9 Applicable to new Units only and not to expansion/diversification projects of existing units.
The rate of interest on the bridging loans against loans sanctioned under Soft Loans Scheme, is higher by 1 % p.a. over the applicable rate under Soft Loans Scheme. This higher rate by 1 % p.a. would be leviable after 365 days from the date of first disbursement.
N.B. Rupee Loans from IFCI upto Ra. 75 lakhs only per project for Hotel Industry carry the applicable rate of interest reduced by 1 % p.a., provided, and so long as the interest differential of 1 % p.a. is subsidised by the Government and there is no default on the part of the beneficiary.
' APPENDIX M
CAPACITY UTILISATION OF SELECTED INDUSTRIES IN THE COUNTRY AND OF i hE K E F C R mc ASSISTED CONCERNS OF THE INDUSTRIAL FINANCE
CORPORATION OF INDIA DURING
1979-80 AND 1980-81
Reporting assisted concerns
For the country
of IFCI Industry
1980-81
1979-80
1979-80
1980-81
No. of units
No. of units
No. of units
No. of units
Utilisa- tion of capacity
Utilisa- tion of capacity
Utilisa- tion of capacity (%)
Utilisa- tions of capacity (%)
(/o)
(6)
(5)
(6)
(8)
(9)
(4)
(2)
(3)
(1)
1. Sugar
. 142"!
133
62
61-7
68 77-01 —Operatives
fti .1*31
04 4
51-4
18
19
170
67 -8 J . 165J
—Others . . ..
62$
881$ . 686£
693££
2, Cotton textiles
p m
22-0
211-3
36 18
207-4
. .
1209
1694
2 .1
t ,
4054
5665
8
71
—
71
3532 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 2l, 1903) [PART III—Sic. 4APPENDIX M
(2)
(3)
(4)
(5) (6)
(7)
(8)
(9)
(1)
4. S y n t h e t ic fibres
— N y l on filament y a rn .
— P o l y s t er filament y a rn
8 8 5
98-5 131-8 67-2
— P o l y s t er staple y a rn .
8 8 5
83 -7 111 -9 83'9
3 5 1
89-7 88-9 82-9
2 4 1
96-9 109-7 88-8
5, Fertilisers
— N i t r o g e n o us . . ..
3 2
— P h o s p h a t ic . . ..
66 -2 67-3
36* 48**
56-2 68 1
71-4 92-9
33 44
6 3
79-3 123-1
6. Chemicals & chemical products
6 5
74-0 59-8
33 27 4 12 5
73-5 50-8 79 0 70-2 64-2
33 27 4 12 5
74'5 49-9 87-5 74-8 67 0
— C a u s t ic s o da . . .. — L i q u id c h l o r i ne . . .. — S o da a sh . . . .. — A c e t ic a dd . . .. • — C a r b on b l a ck
8 6 2 3 2
74-9 59-2 92'1 56-8 65-1
78-4 75-9
60 121
72'3 71 -5
6 17
75-8 69 1
57 106
15 27
75-1 71-9 7. Cement 8. Paper and Paper board 9. Rubber products
83-5 66 1
17 17
94'8 75'0
3 3
63 1 56-4
17 17
7 7
70 7 59 0 —Automobile tyres —Automobile tubes
10. Iron & steel
61 15
39-3 76-6
2 3
58 14
42-9 69-9
61-9 39 0 —Steel castings . . .. —Malleable iron
3 3
63-4 47-2
castings
NA
NA
9
NA
NA
70-5
14 —Steel ingots & billets
68-8
11. A g r i c u l t u r al m a c h i n e ry
13 5
84-2 12-5
3 2
13 5
97-9 15 -6
96 0 18 0 — T r a c t o rs . . .. — P o w er tillers . . ..
2 2
81-7 14-4
12. E l e c t r i c al m a c h i n e ry &
a p p a r a t us
58-6
37 33 71-5
37 33
65 -2 70-9
107 4 72-0 21-3
118 8 89 9 20-4 75-7
12 53-4
14 617
1 2 2 3
— E l e c t r i c al m o t o rs — T r a n s f o r m e rs . . .. — P I LC p o w er c a b l es — P VC p o w er c a b l es
2 2 2 3
108-6y
13. A u t o m o b i le i n d u s t ry
7
45-3
8 44-9
4 13 3 10
96-7 55 -2 59 0 74 n
4 13 3 10 348
111-1 74 1 82-8 105-1 72-0
14. H o t el
— M o t or c y c l es . . .. — S c o o t e rs — T h r e e - w h e e l e rs • — M o p e ds . . . .. . . ..
11 50-7
©Based on the production for the season 198O-81(estimated)
£ Includes 291 composite mills.
££ Includes 278 composite mills. JIncludes 20 composite mills. JJIncludcs 37 composite mills.
•Includes 6 by-product units,
• •'Includes 11 complex fertiliser units included in Nitrogen.
Notes : 1. Figures in columns 2, 3, 4 and 5 are based on the Annual Reports of the Ministries of Industries; Petroleum, Chemical
and Fertilisers (Department of Chemicals and Fertilizers); Agriculture and Irrigation (Department of Food); and statis- tics collected from Directorate of Sugar, National Cooperative Development Corporation; Office of the Textile Com- missioner; Office of the Jute Commissioner; Deptt. of Tourism and Office of the Director General of Technical Develop- ment.
2. Figures in respect of cotton textiles pertain to actuals. 3. Figures in respect of 1979-80 in columns 2 and 3 have been revised in some cases (with reference to the last Report) on the
basis of latest data available.
4. Figures iD columns 5, 7, 8 and 9 are based on replies to IFCI's questionnaire received from its assisted concerns.
]?ART III—SEC. 4] THE GAZETTE OF INDIA, DECEMBER l i, 19&1 (AGRAHAYANA 21, 1903) 3533APPENDIX N
INDUSTRY-WISE ANALYSIS OF DEFAULTS FOR THE YEARS 1979-80 AND 1980-81
_ _ _ __ (Ra- Croros)
^ Defaults
Defaults as on the 30the Junc.1981
as on the 30th June, 1980
Industry
Total No. of
i concerns
Prin- cipal
No. of concerns
Prin- cipal
Inte- rest
Inte- Total
rest
Defaults as percen- tage of loans
outstanding
{{^{{FOOTNOTE (1)}}}} (2) (3) (4) (J) (6) (7) (8) (9) (10)
Mining . . .. 4 0-64 0 53 1 14 2 0-67 0-38 1 05 29-7
Sugar 70 8-96 5 04 14 00 59 12-94 5-39 18-33 . 20-8
Misc. food products 4 0 04 0 05 0 09 1 _ Negl. Negl. Negl.
Textiles 35 3-89 1-88 5-77 34 4 03 2 05 6-08 7-2
Jute manufactures . 8 1 15 0-41 1 56 5 1 07 0-33 1-40 18 -3
Wood products 4 0 07 0 18 0 24 4 0 13 0-26 0-39 9 0
Paper and paper products 21 1 17 1 36 2-50 21 1-61 1 -69 3-30 61
Leather products 3 0 11 0 07 0 18 4 0-26 0 15 0-41 15-8
Rubber products 7 2 16 0 87 3 03 4 2-42 0-80 3-22 18-2
Basic industrial chemicals 11 0-85 0-69 I -54 10 0-66 0-26 0-92 3 0
. Fertilisers . . .. 2 0-41 0-59 1 00 1 0-35 0 58 0 94 4 0
Synthetic fibre & resins . 4 0-56 0-22 0-78 6 0-61 0-29 0-90 4-5
Misc. chemicals 8 0-54 0-13 0-67 9 0-56 0-12 0 68 8-3
Glass and glass products . 6 0 36 0-22 0-58 4 0-56 0'42 0-88 14 6
Cement . . .. 3 0-82 0-62 1-44 5 1 16 0-84 2-00 3-7
Misc. non-metallic mineral pro-
ducts 6 0-29 0 17 0 46 4 0-34 0 20 0-54 7'9
Iron & steel 17 2-17 1-18 3'35 14 2-64 1 03 3-67 10-7
Non-ferrous metals . 3 1 11 0-20 1 -31 4 0-74 0-24 0-98 30-9
Metal products 16 1 08 0-87 1-95 16 1-69 0-72 2-41 16-5
Machinery and accessories 24 1-59 0-98 2-57 19 2-20 0-70 2-90 15-0
Electrical machinery,
apparatus, appliances & parts . 18 2-28 1 10 3-38 14 1 34 0 71 2 05 11 -2
Transport equipment & parts 9 1-91 0-67 2-58 6 0-77 0 35 1 12 7^2
Miso. manufacturingindustries . 3 0 02 0 04 0 06 2 0 03 0 0g 0 09 3 -2
H o t el . . .. 10 0-61 0-71 1-32 9 0-68 0-72 1-40 11 -8
TOTAL: 296 32-79 18-75 51-54 258 37-37 18'29 55-56 10-2
APPENDIX O
UTILISATION OF THE BENEVOLENT RESERVE FUND (BRF)
AND THE INTEREST DIFFERENTIAL FUNDS (IDFs)
FOR THE PROMOTIONAL ACTIVITIES OF tFCI
(Rs. Crores)
Benevolent Reserve Fund Interest Differential Funds
CBRF) ( I D F S)
Total
SI. No. Purpose Amount utilised Amount utilised
During Cumulative During Cumulative1
1980-81 as on the 1980-81 as on the
(July-June) 30th June.1981 (July-June) 30 thJ7ne, 1981
8 2 3 4 5 $ " 7
1.
— — 0.107 0-259 0-259
potential surveys
2.
0-016 0 033 — —
0-033 Promotional (Technical Assistance) Schemes Special as assignments including industrial and feasibility reports, etc Technical Consultancy Organisations
3.
— 0 035 0 093 0-243
0 004 0-045 _ —
0 -278 0 045 —Share capital —Deficits —Non-recurring and
0 001 0 042 — __ preliminary expenses .
0-042
Total (3)
0 005 0-122 0 093 0-243
0-364
5534 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART H I ~ S E C. 4 2 1 4 3 7 5 6Risk Capital Foundation
4.
0-117
_
—Loans —Grants —Administrative expenses
0113
1-753 0-300 0 1 13
0-009
—
1-753 0-300 —
Total (4) . .
0 1 13
0117
2-053
2-166-
0-009 •
_
Entreperneurial Development and 'IPIP' Programmes .
0 034
0-034 5.
Management Development Institute . . ..
(5.
,
0-300 1-293
_
0 170 _
A 000 1-805 0-440
0 108
0-700 0-512 0-440 —Corpus —Campus —Deficits —Research Study & programmo
0-015
0 021 0 '0705
subsidies, etc —Miscellaneous
0-102 0 075
—
—
0 081 —
Total (6)
0-170 1.689
0 123
1-733
3-422
Development Banking Centre
7.
0 082
0-368 —Annual grants
0-368
Research study & programme subsidies,
0 011
0 002
0 011
—
etc. .
Total (7) .
0 002
0-0011
0-082
0-368 0-379
0 001
.
0-167 0 049
0-167 0 049 IFCI Chairs . .. - . .. Special studies (Oil-seeds processing industry study) Orientation Programmes and assistance to State level
8. 9. 10.
_ institutions
0-593
0-041 0-593
—
0 041 —
_ —
Others*
11.
T o t a l ( l t o i l)
0 203
2-259
0-522
7-508
5-249
BRF
IDFs TOTAL
2-920
Total allocation up to the 30th June, 1981
10 -526
7-606 5-249
7-508 Utilisation upto the 30th June, 198l . . ..
2-259
3-018
2-357
0-661
Balance . •
•Represents IDFs (loans portion) utilised for direct financing of eligible projects.
OFFICERS OF IFCI
Principal Officers at Head Office
(As on the 3\st August, 1981) B. B. Singh Chairman
D. N. Davar
General Manager
Jt. General Manager
P.9. Gopaikrishnan* A. K. Ghose R. N. Sahoo / /, General Manager Legal Adviser M.N. Khushu P. S. Gurung V. S. R.CK. Sastry //. General Manager Dy. Technical Adviser Asstt. General Manager (Stat.) S.K. Rishi K. C. Hukmanl F.M. Patnaik Asstt, General Manager (Tech.) Asstt. General Manager (Tech.) Asstt. General Manager (Tech.)
*On deputation with the Unit Trust of India as Executive Trustee.
PART III—SEC. 4] THE GAZETTE OF TNDTA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) 3513OFFICERS {Contd.)
Other Officers at Head Office
Project Department Problem Cases Department
CHEMICALS SUGAR
Sr. Managers Sr. Manager Managers
V. P. Kamath Dr. N. Mahopatra (T) S. C. Banerjce
A. S. Khurana (T) Manager K. K. Garg(T)
Manager R. K. Arora K. K. Kathuria (T)
R. Subramaniam Asstt, Manager K. K. Varshney (T)
Asstt. Managers Din Dayal Asstt. Managers
S. C. Kumar P. Gupta (T)
K. P. Mukherjce TEXTILES N. K. Jain (T)
C. B. M. Rao Managers M. V. Muthu (T)
B. K. Malhotra (T)
G. Naryanamurtby
Asstt. Manager
A. K. B. Nair L"eal Department
Asstt. Legal Adviser
ENGINEERING S. S. L. Gupta
Managers MODERNISATION CASES CELL Managers
V. K, Aggarwal Sr. Manager P, S. Balasubrainanyain (L)
C. D. Reddy (T) S. K. Jain** B. N. Banerjec (L)
H. V. Subba Rao Manager V. P. Grover (L)
Asstt. Managers V. S. Gupta (T) K. R. Kalra (L)
V. K, Dhawan Asstt. Manager Asstt. Manager
M. G. Josbi T. Ganguli (T) K. Sankaran (L)
H. R. Verma
Accounts Department Internal Audit / Inspection Management / Productivity
Department Services Department
Manager Manager Adviser {Productivity Services and
A. N. Gupta P. N. Agrawal Training)
Brij Mohan
Asstt. Managers Asstt. Managers Asstt. Managers (Training)
H. C. Atiand B. K. Gupta Smt. S. P. Lavakare
V. K. Maheshwari S. S. Jain
Statistics Deptt. Administration Department
Departments of Policy, Economic
Planning and Public Relations
Manager Manager Manager
Dr. K- S. V. Menon G. S. Saxena M. L. Kapoor
Asstt. Managers Asstt. Managers Asstt. Managers
R. C. Garg B. K. Das P. G. Ghosh
K. V. R. S. S. Raju J. L. Mehla Mohan Singh
P. Ramakrishnan Personnel Department
K. P. Sridharan (T) Manager
K, Ramanujam
Foreign Currency Board and Coordination Chairman's Secretariat
Loans Department Department
Asstt. Manager Loans Officer Secretary to Chairman
C. P. Gupta P. N. Arora S. Venkatasubramanyan
Officers at Regional Offices
Bombay Calcutta Delhi
Dy. General Manager Asstt. General Manager Asstt. General Manager
D- G. Ramaiah S. P. Banerjee (T) L. N. Jadhvani
Managers
Asstt. General Manager S. C. Bhansali Managers
P. Brahamachari CT) C. D. Ghosh (T)" B. M. Agarwal (T)
Sr. Manager P. K. Ghosh (L) K.G. Jindal ,
S. R. Guruswamy V. Ramachandran H. K. Ramaiah (L)
Asstt. Legal Adviser S. Sundarajau (T) Sunand Mitra (T)
C. P. Bhan
•Also in-charge of Foreign Currency Loans Department. "*On deputation with the West Bengal Industrial Develoment Corpn. Ltd.
3536 THE GAZETTE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903) [PART III—SEC. 4OFFICERS (Contd.)
Asst. Manager Asst. Managers
Managers G.B.K. Pillai G. L. Gupta
S. P. Gupta (T) Madras S. C. Jain
P. N. Mchrotra (T) Asstt. General Manager L. N. Kansra
R. K. Sharma (T) H.C. Shanna J. C. Maihotra
Asstt. Managers Sr, Manager H. C. Sbarma (T)
Birbal Arora (T) L. C. Arora (T)
R. S. Rajput Managers
S. M. Tulsiani K. Radhakrishna
H. R. Yadkikar (L) M. Ramakrishna Rao (L)
R. L. Srivastava (T)
Asstt. Managers
A. C. Ahuja m
N. K. Baksi (t)
K. P.O. Nair
V. Shankaran (T)
Officers at Branch Offices
Gauhatl
Ahnwdabad
Kanpur
Asstt. Managers
Sr. Manager
Managers
G. Viswanathan B. B. Huria (T)* M. M. Menon
Narinder Kumar (T) B. P. Mishra (T)
Asstt. Managers Asstt, Managers
N. S. Joshi (L) M. S. Kang (L)
H. L. Khar (T) B. B. Lai
A. K. Vadhera (T) S. R. Patel (L)
M. M. Sikka (T)
R, S. Srivastava
*To take over charge in October, 1981.
N.B. 1. The names of the Officers other than Principal Officers are in the alphabetical order.
2. The letters 'T and 'L' in brackets denote technical and legal disciplines of the Officers concerned.
OFFICES OF IFCI
HEAD OFFICE
Bank of Baroda Building, 16 Sansad Marg, P.B. No. 363, New Delhi-110001 Telephones : 3120J2 (14 lines), Telex : ND 2623, Gram : FINCO
Indian Red Cross Society Building, 1, Red Cross Road, New Dclhi-110001
Telephones : 389588 388820, 388609
-—• '—' —>—•—*—*—•————>— —'—•——' r—^—*—'—' •—*— —
Jeevan Tara Bulding (Gate No. 3), 5, Sansad Marg, New Delhi-110001
Telephone : 322985
REGIONAL OFFICES
Telephone
Telex
Gram
: Regent Chambers, Backbay Recla-
BY 2773
FINCORPIN BOMB A Y
mation, Nariman Point, Pin 400 021
235047, 235087
235224, 235357
235373, 240839
: Chatterjee International Centre,
CA7463
CALCUTTA
FINCODIA 33-A, Chowringhee Road, Pin 700071
245455, 244123/26
PART 111—SEC. 4] THE, GAZETTE OF 1NEWA, DECEMBER 12, 1981 (AGRAHAVANA 21, 1903) 3537
REGIONAL OFFICES—Contd.
GiTl Nil
Telephone
Ttilvx
DEL1M
rNDFUMCQRP
38ly94, 3-S9667
389715
: Indian Red Cross Souety, Buildmg, 1, Red Cross Road, PB. No. 1SJ, Pin L1000I
MADRAS:
54, Sterling Road, Nuiitfambakkam,
MS 445
HNC'ORPJN
85087, 85197
83625, 86595/6
P,B. No. 3318, Pin 600 034
URANCH OFFICES
AHMEDABAD
: 1FC Bhawan, Chimanlal Girdharilal 445913, 4459K4 AM 4J6
F1NCOUIA
Road, P.B. No* 4049, Pm 380000- '
: IFC Bhawan, 2 Cubbonpet, Najra*im-
BANGALORE
BG464
Fl-NCO
Mh745
71062, 74011
74012, 74013
27245
GAVMATI
haraja Square, Pin J(5OOO2 : B.N. Bordoloi Road, Panbazar,
FINtORP
"HYEDERABAD
P.B. No. 30, Pin 781 001 IFC Bhawan, 3-6-15, Hitnavatnagar,
HD 429
IN UNCO
P.B. No. 1037, Pim 500 02y
38053, 38019 34824 48040, AHllit,
: Upper India Chamber of Commerce
KANPVR
KP260
UN COR!'
Building, 14'fo9, Civil Lines, P.B. No. 319, Pin 208 001
PATNA
Shahi Bhawan, Exhibition Road, 25715
I INCO
Pin 800 001
OTHER OFFICES
"BMQPAL
62433
: R"d Cross Plot, Link Road, No. 2,
F1NCO
51279
BFWBANkSWAR
Shivaji Nngiw, Pin 462 006 IPICOL House, RupaJi Chowk,
FINCQQIA
Janpath, Sahidnagar, Pin 751 007
26347
CHANDWARH
: Oriental Bank of Commerce Building,
IKJICHA
Bank Square, Ssctor 17-B, P.B. No. 97, Pin 160 017
34570
COCHIN
FIN CO : 'Karuna', XXXI11/1311-D, Mahatma Gandhi Road, P,B. No. 1137, Eunakulam, Pki 682 OH
JAIPUR
,63448
: Jamnalal Bajnj Marg, Near Ci il Lines
IFJAI
NAGPUR
PUNE
33416 52666
Railway Crossing, Pin 30200] : 266, Bajaj Na#arv Pin 440 010 : 'Stirashre&% 1146/B^Cr LaJcaki Roady
FIN CO FTNCODIA
Pin 411 Olfe
EMPLOYEES' STATE INSURANCE CORPORATION
New Delhi, the 16lh Novemtcr 1981
New Delhi, the 20tfe Novernber 1981
No. U-16/53/80-Med. U (W.B.) Col. II—In continuation
No. 11(1)-11,72.P&D (I)—In exercise cf Hie rtwers con- ferted by snib^egulation (1> of RcuJaftem 5 cf the Frrptojccs' Slat* Insurance "j BcguJaioris, l'5-*0i ifrc EPiittlor General has dcteimined that in itc areat. rrctifiad in (he Sche- dule given below the first cenUiluiiun ard fitsi bentlit periods for sets 'A", \B\ ajjd. 'C shall ttgin sudi end in respect of persons in insuraBle employment on the appointed du> of midnight of 7-11-1981 as indicated in (he table gjvtn below :—
First contribution period First btneflt period
Set
Begins. Q>JIL midnight
Ends on, rnidnighl
Begins ami midnight
Ends on midnight of this office Notification of even number dated 28-10-1980 and in pursuance of the resolution passed at its meeting, hold on. (f25th April, 1951 conferring upon me the powers of the Corporation under Regulation-105 of the E.S.I. (General) Regulations, 1950, I hereby authorise the following Medical Officers to function as Medical Authorities w.e.f. 1-11-1981 (FN) within their respective jurisdiction as shown below against them for the purpose of medical examination of the insured persona and grant ol further certificate to them when the correct- ness of original certificate is in doubt. The appointment is untill 31-10-82 or till a regular Medical Referee is appointed whichever is earlier.
of
of
of
of
Name
Area
Renumeration
A B . C
7J-1'1-"I 7-Il"-"l 7-11-8-1
1. Dr. T. R. Saha
301-1-82 27-3-82 28-11-81
Rs. 700/- p,m.
7-8-82 7-8-82 7-8-82
30-10-82 25-12-82 28-8-82
SCHEDULE
Lane,
The following areas in the state of Himachl Pradesh • . How, Maidair MR's Office Shibpur L.O. 5/2, L.N. Chatterjee Howrah.
SI. No. Area/Had Bast Na.
District Dr. N. C. Das . Taratalla MR's office, Rs. 700/- p.m
1. Revenue village Mchatpur, Had Bast
No. 230-
Una.
Road,
2. Revenue village Jakhera, Had Bast No.
C/o Behala L.O. 6l3-B, Diamond Harbour : P.O. Behala, Calcutta-34.
229
Una. Solan.
3. Revenue village Parwanoo- 4. Revenue, village Gumau, Had Bast
CORRIGENDUM '
No. 949
Soton
5. Revenue viilaae Arabota, Had Bast
No. 952
Solan
6. Revenue village Kamli, Had Bast No.
No. U-16(53)/80-Med.II(W.B.)-Col.lL—In continuation of this office Notification No. 11-16(53)/80-Med-lI(W.B.) dated 28-10-1980 the date appearing in the Notification "3-11-80 (FN)" may be read as "1-11-1980 (FNj".
948
Solan.
7. Revenue village Taksal, Had Bait No.
HAJt MANDER SKNGH Director General
951
Solan,
3538 THE G A Z b l lE OF INDIA, DECEMBER 12, 1981 (AGRAHAYANA 21, 1903; [PART III—SEC. 4]
No. ll(l)-ll/72-P&D (2)—In pursuance of powers con- feired b} Section 46(2) of the Employees' State Insurance Act, 1948 (34 of 1948), read with Regulation 95-A of the Employees State Insurance (Gen-ial) Regulations, 1950, the Director General has fixed the Stli November, J981 as the date from wnich the medical benefits as laid down in the said Regulation 95-A and the Hunachal Pradesh Em- ployees' State Insurance (Medical Benefit) Rules, 1976, shall be extended to the families of insured persons in the follow- ing area in the State of Htmachul Piudesh namely —
goods, vehicles and animals entering the Cantonment of Rani- khet was published on the lbth November, 1980 by affixing the same in a conspicuous part of the office of the Canton- ment Board, Ramkhet, as lequned bj section 61, read with section 255, of the Cantonments Act, 1924 (2 of 1924) in- viting Objection and suggestions from all persons likely to be affected thereby till the expiry of a period of 30 days from the date of publication of the ^aid notice,
And whereas no objections or suggestions were received from the public by the Cantonment Board before the expiry of the said period of 30 days,
5/ No Area/Had Bast No and Distnu
1. Revenue -village Mehatpur, Had Bast No 230—Una 2. Revenue village Jakhera, Had Bast No 229—Una 3 Revenue village Parwanoo —Solan 4. Revenue village Gumma, Had Bast No 949—Solan 5 Revenue village Ambota, Had Bast No 852—Solan 6 Revenue village Kamli, Had Bast No 948—Solan 7. Revenue village Taksal, Had Bast No 951—Solan
D P M \LHOTRA Director (P&D,
THE FOOD CORPORATION OF INDIA
New Delhi, the 26tti Noveiiinei J 981
No 10/FNo 36-4/bl-tP—in exeicise of the powers conferred by Section 43 of tuc Food CorpoiatiOiis Act, 1964 (37 of 1964) and wi h the p cv.ous sanction of the Cential Government, the Food Corporation or India hereov makes the following regulations funnei to amend the Food Corpo- ration of India (Staff) Regulations 1971, namely —
1. (l) These regulations snail be cal ta the iood Coipoid-
tion of India (Staft) (79ih Amendment) Regula- tions, 1981.
(u) They shall come into iorce at once
2. The existing piovisions undei Regulation 75 of the Food Corporation of India (Stall) Regulations, 1971, shall be i n s- tituted by the following —
"75 Miscellaneous :
Now, therefore, in exercise of the powers confened by Section 60 of the said Act, the Cantonment Board, Ramkhet, wuh the previous sanction of ihe Central Government, here- by makes the following further amendments in the notification of the Government of India, m the Ministry of Defence, No S R O, dated the 21st Novembei, 1968, namely —
In the said notmction, in the fiist pioviso, m sub-para- graph (b) of paragraph (4), after item ( \ ), the following
item shall be inserted, namely —
"(vi) Stall deployed on duty, on behalf of the Election Commission, in connection with the conduct of elec- tion to the Lok Sabha or the Legislative Assembly (Vidhan Sabha) of the State of Uttar Pradesh, with- in the local limits, on pi eduction of a certificate issued by the Returning Officer or such other officer authorised in this behalf "
(Fi!e No 53/7/C/I&C/80)
R D CHATURVEDI Cantonment Executive Officer, Ramkhet
UNIT TRUST OF INDIA
Bombay te 26th November 1981
CORRIGENDA
No UT'DPD/(P&R)/81-82—The following corrections in our notification No UTy2729/DPD(P & R) 84/81-82 dated 7th September, 1981 published on pages 2638/2642 of Gazette of India (Part III Section IV) dated 10th October, 1981 are published for General information.
Correction Column No
Service of Orders, Notices etc .
The following ptocedure snail be followed by the Coi- poration while serving oideis, notices, etc on Corpora- tion's employees —
(l) Every order, notice and o her piocess made or issued under these Regulations shall, as far as possi- ble, be dehveiea or tendered to the employee con- cerned m person,
(u) Where such ordet, notice or other process cannot be served personally as at ( I) above, the notice etc shall be served on such employee by Registered post acknowledgement due at the address of the employee available with the Corporation at the office where the employee was last working or, it he is on leave, as per his leave application particulars, if any, and
(in) If the notice sent by the Registered post is returned unserved, it should be published in the Loval/ Regional Language Newspapers and All India News papers, as appiopnate and upon such publication, it shall be deemed to have oeen personally seived on such employee "
R. NARAYANASWAMY, Secy.
CANTONMENT BOARD, RAMKHfT CANTONMENT
Ramkhet Cantonment, the 27th November 1981
No. S RO 243/)9/ATN—Whereas a public notice of cer- tain draft amendments pioposed to be made in the notification "f the Government of India in the Ministry of Defence No. S R C. 378, dated the 21st November, 1968, imposmg toll on
Clause/ Sub-Clause
Page No
2
3
4
1
VI (2)
2639
1
Read 5th & 6th years repurchases limits as follows . 5th year 60 (inclusive of previous years 40%)
6th year and 100 thereafter
1
XII
2640
Add the word 'Certificate' after the word 'unit' in the title.
1
XVI
2641
In the second line the word 'certified' should be read as 'certificate'.
1
2641
xvm Sub-clause (l) should be read as (1)
2641
1
XVTil(l) In the last line the wore and figures "exceed 50%" should be read as 'ex- ceed 5 %".
2641
1
XXI
In eighth line the word (after any) 'he' should be read as 'be'.
MOHAMMAD TAHIR Manager (P & D)
PRINTED B\ r±-
- ness on 18th April 1981 (Sd) JLTFGTBLE Rcg'onal Manager THE INSTTTUTF OF CHARTERED -VCCOUNTANTS OF INDIA 13 Shri R P Dua Officer in Junior Management Giadc assumed complete charge of Accountant'^ duties -it G T Road Shihdara Bianch as on 20th April 1981 New Delhi, the 27th November 1981 No 1-CA(127)/81—-In exercise of the powers conferred^ 14 Shn P C Garg Officer in Middle Management Grade (Scale JT1) assumed complete charge of Branch M>nn<**i's duties as from n th April 1981 nt G T Road Shnhdara Branch 15 Shri S N Budhwar Officer m Junior Management Grade assumed complete charge of Field Officer's duties ns on 25th April 1981 at Birtan Market Branch 16 Shn N K Sharma Offic«i in Tunioi Managemcr^ bv clause 01) of Part Tl of the Second Schedule to the Chaiteied Accountants Act, 1949 the Council of the Institute of Chartcied Accountants of Tndin hereby withdiaws Notifica- tion No 1 CA(18)/67 dated 27th Maich 1967 published in Pnrt III Section 4 of tht Guz-tt" of Tmli i dated 29th April ' <•*! 1967 Grad- assumed co-nplete chaise of Manager CPVs dutips at Tfs Ha/in Branch as at the close of M.isme>s on 31st March P S GOPALAKRISHNAN, Secretary ↩
- - / 1 ^4 3-£0 2-17 ↩
- TYifa industries . JVJlIl^i I 111 I)- 111UUDU1VJ • • Agricultural machinery 0-3 — 0-4 0-7 — — 0.1 — ↩
- 0alh nos.) 13004 12174 Oi) Yam (lakh kgs.) 0-18 2-1 0-34 B. (i) looms 0akh nos.) 41642 40850 (ii) Cloth (lakh metres) 107'0 — 80-6 102'8 3. Jute ↩