Grant hundred percent (100%) exemption to M/s Bansal Alloys and Metals Pvt. Ltd. having its expansio

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PART I] PUNJAB GOVT. GAZ., AUGUST 6, 2021 (SRVN 15, 1943 SAKA) 1381

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No. 32] CHANDIGARH, FRIDAY, AUGUST 6, 2021 (SRAVANA 15, 1943 SAKA)

PART I

Punjab Government Notifications and Orders

GOVERNMENT OF PUNJAB

DEPARTMENT OF POWER

(ENERGY BRANCH)

NOTIFICATION

The 31st May, 2021

No. 10/36/2021-EV4/1738.-in exercise of the powers conferred by section 12 of the Punjab Electricity (Duty) Act, 2005 (Punjab Act No. 9 of 2005), and all other powers enabling him in this behalf, the Governor of Punjab is pleased to grant hundred percent (100%) exemption to M/s Bansal Alloys and Metals Pvt. Ltd. having its expansion unit (Project Name: Rolling Mill, PIN 18082437) located at G.T. Road, Sirhind Side, Mandi Gobindgarh from the payment of electricity duty (except Social Security Fund) for a period of ten years, in terms of the Detailed Scheme and Operational Guidelines, 2018 (Industrial and Business Development Policy, 2017) in public interest, subject to the following conditions, namely:-

CONDITIONS

(i) the exemption, shall be granted to the said Firm for manufacturing of Hot-Rolled and Cold Rolled products of steel, steel in Ingots or other primary forms and other semi-finished products of steel as per the conditions contained in the Eligibility Certificate issued by the Convener-cum-Additional Director(Incentive),State Level Committee vide Endorsement No. Inc/FI/IBDP/170/Bansal Alloys/ M.G/1678-B dated the 22nd March, 2021;

(ii) the exemption, shall be granted for the period from the 11th June, 2019 to 10th June, 2029 or the date of exhaustion or utilization of quantum of eligible incentive i.e. Rs.12,13,74,000/-(rupees twelve crore thirteen lakh seventy-four thousand only) whichever is earlier, as per the Eligibility Certificate dated 22nd March, 2021, i.e., the status of the unit will be reviewed before completion of 7 years of Electricity exemption period i.e. 10.06.2026, so as to then decide if this exemption is to be extended beyond 7 years, as categorization of the unit as Large Unit is dependent on the turnover of the unit for each of the years preceding. However, the date of commercial production of the unit after expansion is also certified as 11th June 2019;

( 1381 ) 1382 PUNJAB GOVT. GAZ., AUGUST 6, 2021 (SRVN 15, 1943 SAKA) PART I] (iii) in the event of any revision of rate of electricity duty at any subsequent point of time, the exemption to the extent of revised levied rate of electricity duty (except contributions out of electricity

duty e. g. Social Security Fund etc.) shall be applicable to the Unit;

(iv) the usage of the power by the Firm during the aforesaid period shall be regulated through a transparent metering arrangement installed or approved by the Punjab State Power Corporation Limited and the Chief Electrical Inspector to record the consumption of the Unit under exemption;

(v) the exemption shall not be applicable for the residential area of the said premises and to that effect, an undertaking shall be submitted by the Unit that no residential area exists in the premises. If there is a residential area in the premises, in that event, a separate meter has to be installed or a separate electricity connection shall be obtained in order to record the electricity consumption of that residential area, which shall be excluded from the total electricity consumption of the unit;

(vi) it shall be ensured that the Firm does not connect the load of any other Unit with this Unit for the purpose of availing exemption from electricity duty;

(vii) the exemption shall be strictly in accordance with the Eligibility Certificate issued by the Convener- cum-Additional Director (Incentive), State Level Committee vide Endorsement No. Inc/FI/IBDP/ 170/Bansal Alloys/M.G/1678-B dated the 22nd March, 2021; and

(viii) in case any excess claimed exemption is detected at any point of time, it shall be liable for recovery and penal action.

To ensure the compliance of the above conditions and proper utilization of incentive, the Auditors of the Office of the Chief Electrical Inspector may inspect the Unit at any time. In case, any violation of any of the provisions of the Punjab Electricity (Duty) Act, 2005 or the rules made thereunder and the above conditions, is detected, the owner of the Unit shall be liable for action under section 8 of the said Act and exemption shall automatically cease for which the supplier and owner of the Unit shall be responsible.

Sd/-

R.K. KAUSHIK IAS,

Chandigarh

Secretary to Government of Punjab, The 27th May, 2021

Department of Power.