ABSTRACT

Tamil Nadu Small Industries Development Corporation Limited – New Schemes for 2002-2003 announced on the Floor of Tamil Nadu Legislative Assembly on 12th April 2002  while replying to the debated on Demand No.42 relating to Small Industries – National Small Industries Corporation (NSIC) – Tamil Nadu Small Industries Development Corporation Limited tie up for composite loan for tiny sector industries – Scheme approved – Orders issued.

SMALL INDUSTRIES (SIC) DEPARTMENT

G.O.Ms.No.54
Dated : 10.12.2002 

From the Managing Director, Tamil Nadu Small Industries Development Corporation Limited D.O.letter No.5662/P1/2002 dated 4th June 2002.

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ORDER :

While replying to the debate on Demand No.4.2, relating to Small Industries Department on the floor of the Tamil Nadu Legislative Assembly on 12th April, 2002, Hon’ble Minister for Rural Industries announced the following schemes :-

“ National Small Industries Corporation – Tamil Nadu Small Industries Development Corporation Tie up for Composite Loan Scheme to tiny Sector Industries.  This is the first such tie up between the National Small Industries Corporation of Government of India and Tamil Nadu Small Industries Development Corporation Limited of Tamil Nadu Government.  Tiny Industrial entrepreneurs shall be sanctioned composite loans upto Rs.25 lakhs.”

2.  In the letter read above, the Managing Director, Tamil Nadu Small Industries Development Corporation Limited has reported that for implementation of the composite term loan of National Small Industries Corporation Limited upto a project cost of Rs.25/- lakhs a draft Memorandum of Understanding has been finalised in consultation with the National Small Industries Corporation and furnished a copy of Memorandum of Understanding for approval of Government.

3.  In the circumstances reported by the Managing Director, Tamil Nadu Small Industries Development Corporation Limited the Government approve the National Small Industries Corporation-Tamil Nadu Small Industries Development Corporation Limited Tie up for composite loan schemes to tiny sector Industries.  The Managing Director, Tamil Nadu Small Industries Development Corporation Limited is informed that the Government is not a party to the said Memorandum of Understanding.  Hence the Government considers that it is not necessary for them to approve the Memorandum of Understanding.

 (BY ORDER OF THE GOVERNOR)

D. RAJENDRAN,
SECRETARY TO GOVERNMENT.

 To

The Managing Director, Tamil Nadu Small Industries Development Corporation Limited, Chennai-16.
The Regional Manager, National Small Industries Corporation,
615, Anna Salai, Chennai-6.
The Director of Industries and Commerce, Chennai-5. 

// FORWARDED BY ORDER //

 SECTION OFFICER.