Modifications in the revised guidelines of ATUFS

Para

Existing Provision 

To be read as 

10.2.5

Installation and commissioning of the machinery covered under UID shall be done within one year from  the date of sanction of term loan. Extension upto one year beyond the initial prescribed period of one year may be permitted only on production of documentary proof that the order for machinery was placed within the prescribed timeline i,e., one year from the date of sanction of term loan.

Installation and commissioning of the machinery covered under UID shall be done within two years from the date of sanction of term loan subject to production of documentary proof that the order for machinery was placed within one year from the date of sanction of term loan for verification by JIT during inspection of machinery.

12.1

UID issued under the scheme shall be cancelled in cases where the applicant fails to submit intimation of installation of the machinery within one year from the date of sanction of term loan for undertaking physical verification by a Joint Inspection Team (JIT) unless he is permitted for extension beyond one year by Textile Commissioner on the basis of sufficient documentary proof that the order for machinery was placed within time however installation and commission could not be completed due to circumstances beyond the control of the entrepreneur.

UID issued under the scheme shall be cancelled in cases where the applicant fails to submit intimation of installation of machinery within two years from the date of sanction of term loan for undertaking physical verification by a Joint Inspection Team (JIT) provided the order for machinery was placed within one year from the date of sanction of term loan however the installation could not be completed due to circumstances beyond the control of the entrepreneur.

5.4

The minimum repayment period of the term loan sanctioned for availing the benefit of the scheme shall not be for less than three years including moratorium period for MSME units and not less than 5 years for other categories.

The minimum repayment period of the term loan sanctioned for availing the benefit of the scheme shall not be for less than three years including moratorium period.