Excelsior Correspondent
JAMMU, Aug 14: Director Industries and Commerce, Jammu, has invited the entrepreneurs to avail soft loans for revival of their sick units, which are lying closed in Industrial Estates across Jammu division.
According to a circular in this regard, such units have been advised to pursue their rehabilitation programme with the concerned banks under provision of MSME notification number S.O. 1432(E), dated 29/5/2015, read with framework for revival and rehabilitation of MSMEs, issued by the Reserve Bank of India vide number RBI/2015-16/338. Dated March 17, 2016.
In case of the unit being considered for revival, the entrepreneur may approach the General Manager of concerned DIC for availing soft loan under the provisions of Government order number 47-IND of 1999, dated 10-02-1999.
The Industrial Policy 2016 reiterates that Government shall endeavor to take all possible steps for revival of sick industrial units. In case all the steps for revival and rehabilitation have been exhausted, the sick unit shall be provided an exit route by way of allowing transfer of its ownership/leasehold rights to another entrepreneur provided all liabilities are cleared.
Land from such sick units shall be retrieved only in case where all measures for revival are exhausted, says the circular.
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