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THDC

THE  TAMILNADU HANDLOOM DEVELOPMENT CORPORATION  LTD.

The Tamilnadu Handloom Development Corporation Limited was a public sector undertaking started in the year1964 with a view to provide financial Assistance to the weavers outside the cooperative fold. Members of the corporation will be eligible to obtain loan for working capital purposes.

1) Eligibility  :  Members of the corporation  alone are eligible to obtain loan from the Corporation. A member can obtain loan to the extent  of ten times the amount of share capital invested by him. A member can also avail  loan if he has ten shares and also deposits a margin money equivalent to  ten times the amount of loan. 

2) Purpose      :   Loan will be sanctioned for production , marketing and processing of Handloom,  Powerloom  and Hosiery  cloth. 

3)  Amount of  Loan : A member can avail financial assistance upto a limit of  Rs.1,00,000/-. A member who is already a borrower and is prompt in repayment  will be eligible for a maximum loan of Rs.2,00,000/-.  

4) Security  :   Members desirous of availing financial assistance must offer security in the form of immovable property. The amount of loan will be  50% of the value of security if the same is situated in mofussil areas and 60% if the same is situated in municipal areas. The members should deposit  the original title deeds relating to the security property with the corporation. 

5) Repayment :   The entire amount of loan will have to be repaid  within a period of 18 months in two equal installments . Interest should be paid in every quarter. 

6) Interest   :   The member will have to remit interest at the rates prescribed by the corporation from time to time. At present the rate of interest is 18.5%.If a  member remits the installments of principal and  interest promptly, he will be eligible for a rebate of 1%. For delayed remittance of Principal, penal interest  will be levied. 

7) Procedure   :  Members desirous of availing financial assistance may approach the Branches of the Corporation situated at Salem, Madurai, Coimbatore, Kancheepuram, Cuddalore , Kumbakonam and Tirunelveli . 

BOARD OF DIRECTORS:

The Management of the Corporation is vested with Board of Directors.  The Board consist of 4 Ex-Official Directors and 8 non official Directors. The Director of Handlooms and Textiles is the  Chairman of the Corporation.

PERFORMANCE:

The Corporation was in accumulated loss till the  year 96-97 and its started earning profit since 97-98 and was continuously earning profit up to the current year.  The entire loss was wiped out in the year 2000-2001 leaving a net profit of Rs.1.12 lakhs.  The performance of the Corporation for the past 10 years are given below

                                                                                                                                        (Rs. in lakhs)

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