sugar factory or sugar un
7. In the said rules, in rule 25, after sub-rule (6), the following sub-rule shall be inserted, namely:
"(7) In case of two consecutive defaults in repayment of the Sugar Development Fund loan or installment thereof, the Central Government may initiate proceedings under the provisions of the Insolvency and Bankruptcy Code,
8. In the said rules, in rule 26-
(i) for sub rule (1), the following sub-rule shall be substituted, namely:- after taking into consideration the scheme of rehabilitation recommended by the Committee for rehabilitation and any other relevant factor, restructure the loan, interest or additional interest on account of default thereof of a potentially viable sick sugar undertaking-:
Provided that while so restructuring, no portion of the outstanding principal or simple interest at applicable rates at the relevant time shall be waived off:
Provided further that the Central Government may, at its discretion, waive additional interest in full or in
(ii) in sub-rule (2), for first and second provisos, the following provisos shall be substituted, namely:-
Provided that the restructuring has been recommended by the Committee for rehabilitation in the scheme for rehabilitation for sugar undertakings in accordance with the guidelines as may be decided by the Government:
[ II 3(i)] 9
Provided further that the sugar undertaking shall, during such period till such restructured loans are fully repaid, be eligible for loans only if it is a part of the rehabilitation scheme under rule 21;
(iii) in sub-rule (3), for Form No.XI, the following Form shall be substituted, namely:- Form No. XI (See rule 26) Application for restructuring of loan taken from the Sugar Development Fund Sl. No. Particulars Information
1. Name and Address of the Sugar Factory
2. Plant Code
3. Name of the Sugar Undertaking
4. Registered Office
5. Constitution of the Sugar Undertaking a. Co-operative Society b. Private Limited Company c. Public Limited Company d. Public Sector Company
6. Date of incorporation
7. Chairperson and Board of Directors
8. SDF Loans availed Sl. No.
Plant Code Scheme Year Total Loan Balance
9. Duration of Moratorium applied for (not more than 24 months)
10. Particulars of the Sugar Factory:
Item Data for previous three years Projection for next three years Justification for the Projection 20__ 20__ 20__ 20__ 20__ 20__ Licensed Crushing Capacity Installed crushing capacity (TCD) Area under sugarcane (acres) Average yield (tonnes/acre) Total production of sugarcane Gross duration of the season (days) Net duration of the season (days) Total cane crushed (lakh tones) Average sugar recovery % Total sugar produced (quintals)
11. Financial Results of the Sugar Factory Item Data for previous three years Projection for next three years Justification for the Projection 20__ 20__ 20__ 20__ 20__ 20__ Net sales Gross Profit/loss Interest on:
(a) Term loan 10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART IISEC. 3(i)]
(b) Working Capital
(c) Total Depreciation Operation Profit/loss Tax Net Profit/loss Cash accruals FRP fixed by the Govt. of India (per quintal) Actual cane price paid (per quintal) Cane Price Arrears
12. Financial Position of the Sugar Factory (for last three years as per Audited Financial Statements enclosed) 20__ 20__ 20__ Remarks Gross fixed assets including work-in-progress Less Depreciation Net fixed assets Investments Current Assets Current Liabilities Net Working Capital Net tangible assets Long-term liabilities Share capital including share suspense and nonrefundable deposits Reserves and surplus Deficit in profit and loss account and Intangible assets Net worth
13. CA certified FACR calculation sheet for Sugar Factory a. At the time of applying for restructuring loan b. At the time of applying for initial loan
14. CA certified FACR calculation sheet for Sugar Undertaking:
a. At the time of applying for restructuring loan b. At the time of applying for initial loan
15. Debt Service Coverage Ratio (DSCR) of Sugar Factory a. At the time of applying for restructuring loan b. At the time of applying for initial loan
16. Debt Service Coverage Ratio (DSCR) of Sugar Undertaking a. At the time of applying for restructuring loan b. At the time of applying for initial loan
17. Details of the reliefs or concessions from the Central Government or State Government or Financial Institutions or Scheduled Bank and other Banks or donations from the employees of the sugar undertaking and other agencies, if any [ II 3(i)] 11
18. Whether the concerned agencies have agreed to provide these reliefs/concessions to the sugar undertakings? If so copies of the consent letters from the concered agencies are to be provided alongwith this application form.
19. Schedule of Implementation of the scheme:
20. Summary of the projected profitability/cash flow statements for 10 years on implementation of the scheme along with critical assumptions.
* all amounts are in lakh of Rupees.
Signed by:
Name:
Designation:
Name and address of the sugar unit or factory Place:
Date:
(iv) in sub-rule (4), the following sub-rule shall be substituted, namely:- -Secretary of the Committee shall soon after receipt of the recommendations of Committee for rehabilitation, place the same before the said Committee along with his comments if any, for the Committee's
(v) in sub-rule (6),for clause (b), the following clause shall be substituted, namely:- -committee or expert to make an investigation and report on any aspect relating to the recommendations of the Comm [F. No. 1-4/2020-SDF] SUBODH KUMAR SINGH, Jt. Secy. (Sugar and Admn.)
Note: The principal rules were published in the Gazette of India vide notification number G.S.R. 752(E) dated the 27th September, 1983 and subsequently amended vide-
(i) G.S.R.817(E), dated the 20th December, 1984;
(ii) G.S.R.838(E), dated the 14th November, 1985;
(iii) G.S.R.551(E), dated the 6th May, 1988;
(iv) G.S.R.235(E), dated the 24th April, 1991;
(v) G.S.R.441(E), dated the 28th April, 1992;
(vi) G.S.R.435(E), dated the 6th May, 1994;
(vii) G.S.R.27(E) dated the 12th January, 1996;
(viii) G.S.R.656(E), dated the 21st November, 1997;
(ix) G.S.R.91(E), dated the 12th February, 2001;
(x) G.S.R.886(E), dated the 6th December, 2001;
(xi) G.S.R.442(E), dated the 21st June, 2002;
(xii) G.S.R.443(E), dated the 21st June, 2002
(xiii) G.S.R.584(E), dated the 19th August, 2002;
(xiv) G.S.R.67(E), dated the 29th January, 2003;
(xv) G.S.R.241(E), dated the 25th March, 2003;
(xvi) G.S.R.787(E), dated the 6th October, 2003;
12 THE GAZETTE OF INDIA : EXTRAORDINARY [PART IISEC. 3(i)]
(xvii) G.S.R.895(E), dated the 19th November, 2003;
(xviii) G.S.R.953(E), dated the 17th December, 2003;
(xix) G.S.R.72(E), dated the 23rd January, 2004;
(xx) G.S.R.687(E), dated the 21st October, 2004;
(xxi) G.S.R.739(E), dated the 9th November, 2004;
(xxii) G.S.R.149(E), dated the 2nd March, 2005;
(xxiii) G.S.R.451(E), dated the 4th July, 2005;
(xxiv) G.S.R.558(E), dated the 15th September, 2006;
(xxv) G.S.R.188(E), dated the 9th March, 2007;
(xxvi) G.S.R. 697(E), dated the 7th November, 2007;
(xxvii) G.S.R.699(E), dated the 8th November, 2007;
(xxviii) G.S.R.738(E), dated the 29th November, 2007;
(xxix) G.S.R.749(E), dated the 5th December, 2007;
(xxx) G.S.R. 115(E), dated the 28th February, 2008;
(xxxi) G.S.R. 279(E), dated the 10th April, 2008;
(xxxii) G.S.R. 388(E); dated the 19th May, 2008;
(xxxiii) G.S.R. 508(E), dated the 7th July, 2009;
(xxxiv) G.S.R.599(E) dated the 30th July, 2012;
(xxxv) G.S.R.210(E) dated the 8th April, 2013;
(xxxvi) G.S.R.847(E) dated 9th November 2015;
(xxxvii) G.S.R.23(E) dated 13th January, 2016;
(xxxviii) G.S.R.885(E) dated 17th September, 2018;
(xxxix) G.S.R. 496 (E), dated the 07th August, 2020.
(xxxx) G.S.R. 564 (E), dated the 16th September, 2020.
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