(\1!) ~'!if f'rjlr ('!) <fl<l'hlf<H"ff"f ('I) 3lTffinfi '!if ~ lil '!if m
(ii)~: '""'' qf{q',~.,, i\ f'lf.lm (<;() 't'ft '!if *"' ('!)~'!if~ ('1) <fl ""''1'6"'"""' '!if :!'f:<r«r
(ii) ""*" '!': 12 '!if >iPl: [(i)-(ii)] ( 13) ¥1 '(f.G """' """' ( 11 + 12)
(14) """00 ~ [( 11)/(2\1!+12'1)/(1-"' «:)) ( 15) i't ~ <lit 3!<lfu ('!'t) ( 1 6) !l'li ~ '.(<"! (:o;-q,: 1 ( 16) 'IT 'F «:)
(17) Wll'l'f<lil 31inftil;"' _,. (q;[, 'fi. 11-18/2015-~) >r<ri<r f'\il<ft, ~llR<f. 1~"~'·~!1~) -nz: 1J.'I F.nm 'lm ~ ~ if m.'!if.f.\. *"'rr ?s'"' mmr 21 ~. 1983 = ICli1fmr f.lrr( ~ ;r 3ln: .mm 'fi~i\!R BT.'liT.f.\. *"'rf 21 0(3f) mfhs 8 ~. 2013 ;;m fil;">rr '!'IT '!TI MlNISTRY OF CONSUMER AFFAIRS, FOOD AND PlJllLIC DISTRlllUT!ON (Department of Focd and Public Distribution) NOTIFICATION New Delhi. the 9th November, 20'15 G.S.R..847(E).-In exerciSe of the powers conferred by sub-section (2) of section 4 read with sub-section (2) of section 9 of the Sugar Development Fund Acr, 19M2 (4 of 1982), the Central Gavernmenl hereby makes the following rules further to amend the Sugar Development Fund Rules, 1983, namely :-
1. Short title and commencement.- (l) These rules may be called the Stlgar Development Fund (Amendment) Rules, 2015.
(2) They shall com~ into force on the date of their publication in Official Gazette.
2. In the Sugar Development Fund Rules. 1983. (hereinafter referred to as the principal rules), in rule 7, in sub rule (I). after the fi.~ur~ "22", the figures and letter "22A" shall be 1nserted. ), In the principal rules, in rule 22, in sub-rule (4), in clause (b), for the Explanation, The foltowing Explanation shall be substi[l.lted, namely:- " Explanation.- For the purposes ofthl~ clause and clause (b) of sub-rule (3) of rule 22A,- {A) "refinancing" includes a~·ailing of loan for repayment of Jaon taken from any financial institution or scheduled b'ank before. applying to a Financial Institution or bank for appraisal in which Fund component is proposed, but shall not include a 'bridge loan· taken in lil'u of Fund component after ~ubmining an application to the Standing Committee on Fund; {B) "bridge loan" means a short loan from 11ny Financial Instrtution in lieu for Fund loan and the same shall be repaid on disbursement of the same.''.
4. In the principal rules, after rule 22. the following n1le shall be inserted, namely:- 10 THE GAZETTE OF Tl"DIA EXTRP.ORDlNARY "22A. Loan for conversion of existing ethanol plant in\o zero liquid d1~c~arge plant.-( I) Any sugar iGcto~y of an1.mdert2king, havmg ~n il1Stalled capacity of two thousand five h~mdrcd Tonnes cr\\Shed per d~y or higher to which financial assistance has been approved by a Financial [nstitutton or a schcdtL!ed bank for it to Implement a project for con-.•ersioo of existing ethanol plant mlo .z.ero liquid discharge plant by 'installmg the required plant and machinery shall be eligible to apply for loan under this rule: Pruvitlt:d tl1at tett JJCl cwt of rl1e plOJCCt cost shall be met by the sugai factory of an unde1taking f1<:>1o its own internal generation of fund as pari of the promoters contributiOn required by the Financi~l Institution or the scheduled bank.
(2) A sugar under1.aki.ng which is tr\ default of payrnen.t that has becQme due in. respect of the Fund and the Le:vy Sug<Jr Price Equalisation Fund relating to any of the sugar facrories or units under it shall not be eligiblt to apply for a loan tmd.er th(s ntle. (3} A sugar undertaking sba!l nOt be eligib!e to apply for fl loan under this rule·ror any of the following reasons or purposes. namely: -
(a) 1f loan is with respeci 1o a second hand projec~. equipment or machinery:
Provided that a sugar undertaking shall be eligible to apply for a loan for a proJccr where second hand eqmpment or machinery has been used or is proposed to be used, subject to the following condttlons, namely-
(t) <1se of such second hand machint.r)' or eqmpmenl str.:ll 1101 chl'.nge the O\lerall charac\er of the. projt.ct, ., .. hich shall essentially consist of new plant, machinery ~nd equipment; (i1) it shall technically be certified char the use of the second hand machinery or equipment shall not affect the Overall efficiency and hfe of the project:
(iii) rhe useful life of the second hand machinery or equipment so used shall not be less than the term of repayment of sugar development f\md }oan;
(iv) subject co fulfilment of condirions specified in sutNlauses (i) to (iti), the estimnLed or actual cost oi machinery or equ1pment which are n'ot new shall be deducted from the estimated or actt1al cost of the project before amving at the eligJble project cost for the purpose ot Fund loan;
(b) refinancing;
(c) financing of cost Over run;
(d) project commissioned prior to the date of application under these rules;
(e) if such sugar undertaking is a defaulter in respect of repaymenc of loan availed under Fund or in payment of any dues under the Levy Sugar Price Eqtlalisation Fund in respect of any of its sugar factones.
(4) (1) The Commiuee may, with the previous approva) of the Central Govemmem make any class or classes of sugar undertaking ineligible for loan under this rule:
(ii) The sub-cormnittee or Committee shall record the reasons in writing if it decides that an applicant is not eligible for loan.
(5) Aa eligible sugar undertaking under this rule, shall make an application lo the Committee in Form VII-A in duplicate along with a copy each of its balance sheet and prof11 and loss account for the last three consecutive years preced~ng the year in wh.ich the application is made.
(6) (i) All applications made under sub-rule (5) shall first be placed before the sub-committee; (i1) The Member- Secretary of tbe Committee, who shall be the Convener of the Committee, shall call a meeting of the sub-commitLee once in a monch where there fs application for Joan.
(iii) The sub-comminee shall consider the application and all other relevant factors and give its recommendation for the consideration of the Committee ln tts ne~t meetlng,
(7) Jt shall be open to the Committee and the sub-comrTiirtee to call for any further informalion from the appJicant or refer the matter to an expert or group of experts or expert organisations to make an investigation and report on any aspect relaring to the application before mal<.ing their recommendati.ons.
(8) (i) The Committee shall after taking into account rhe recommendations of the sub-committee, and after considering the information or report obtamed by the Cornminee unde! S\lb-rule'(7), if any, and all relevant aspet.ts. make its recommendations as to the amount of Joan that may be made to the sugar undertaking. r""' n-= 3 !•ll ]]
(ii) The Commitlee. may also, with the previous o.pprova\ o{ the Ce.11tn•.l Go\·~mment', issue dLrecuons to the sub committee to make a recommendation directly 10 rhe Cenrra! Government on rhe amount uf luan that may be made to the s11gar undertaking.
(9) In respect of a sugar undertaking that has applied for a loan, falling under this· rule, the Central Governmenl m~y after consideration of the recommendation of the Committee and any other relevant factor wiLI-J \'tew to llTiproving irs' viability, authorise paymeflt of such amount of loan not exceeding the amount :-equired by the Financial Institution or the scheduled bank. as the case may be, to be contributed by such sugar umlertalC!ng as promoters' contribution as may be detennined by the Central Governmenl (101 The amount of loan aulborised under sub-mle (9) shall be disbm.~ed hy the Centr<ll Government to the sugar undertaking or paid by it to the Financial Institution or the scheduled bank. as the case may be, for disbursement to the sugar undertaking either in Jump snm or in instalments a$ may be considered necessary by the Central Government. (i 1) The Financin1 Instil\ltion or the scheduled bank, as the case may be, shaU treat the amount authorised as a pai1 of the promoters' corurib11tion.
( 12) (i) The loan from the Fund along with the interest due thereon shall be recovered in half-yearly Instalments not \~. exceeding eight in m1mber. ~·
6.1
(ii) The repayment of the loan with interest thereon shall commence after the expiry of one yl':.ar (eckoned from the date of each d1sbmsement of the !o>l.n from the F\\nd. ( J 3) {i) The disbursement of the loan amhorised by the. Central Government under sub-rule (9) shall be preceded by a tripartite agreement between the Central Government, the sugar· undertakmg and the Financial Institution or the scheduled bank, or a bilateral agreement between the Central Government anU the sugar undertaking, as the case may be.
(ii) The agreement refecrect <o in cl'llse (a), shall contain <he terms and condihons w•<h regard <o <he utilisation of the loan including moniloring of the irnplememarion of the,project by an agency designated by the Central Government in this.beha!f, the period of repayment including the number and <Jmount of instalment, paymt:nt of interest, the manner of such iepayment or payment. security to be provided for the.1oan and any other matter incidenla] to the loan. Expianotion.- For the purpose of this rule, the expression "sugar factory" includes any unH thereof {wbich may or may not be within the premises of the sugar factory) used for production of anhydrous alcohol or ethanol from alcohol or from molassl':.s for which raw material is supplied by such sugar factory in accordance with the norms specified by the Committee in this behalf.''
5. In the princ1ple. rules, in rule 24, in sub nile (l), afler the figures "22", the figures and letter "22A" shall be inserted.
6. In the principle rules. in rule 25, in sub rule (I), after the figures "22", the figures and letter "22A" shall be inserted.
7. In the principle rules, in nt!e 26, in sub n1le (1). after the figures "22", the figures and letter "22A" shall be inserted. · Form VII A (see sub-rule.(S) of rule 22A) Application for Financial Assistance from tin: Fm1d for implementmg projects for Zero Liquid Discharge (ZLD) I. Name of applicant:
2. Address:
3. 4, 5,
(i) Registered Office
(ii) Location of the factory Constitution (Whether Co~operative Society Private/Public Limited Company/Joint Sector/ Public Sector Company): Date of Incorporation/Registration: Existing Activity/Past perfonnance:
(i) Briefly state the present activities;
(ii) Performance during the last 3 years !2 THE G'AZETTE OF INDIA· EXTRAORDINARY A Salient production and operanng results Year ended (tor thrr;e consecwive yea1s preceding Che year in which the application is made) 200 200 200
(1) Ltcensed crushing capacity (tonJ!eS crushed ;Jer day)
(2) Installed crushing capactty (tonnes crushed per day) (3} Licensed capacity of the alcohol manufacturing plant (~000 litres)
(4) Installed capacity of the alcohol manufacturing plant ~COO litres)
(5) Installed capacity of ethanol manufacturing plant (\000 lirres)
(6) Capacity utilisation(% of installed capacity)
(a) Sugar
(b) Alcohol
(c) Ethanol
(7) Prodnction
(a) Sugar (fOOD tonnes)
(b) Alcohol (~000 litres)
(c) Ethanol ~000 litres) 1[(d) Molasses] B. Working results: (for three comec\ltive years preceding the year in which the applicalion is made) I. (!)
(2)
(3)
(4) Sales net of E1;cise Duty
(i) SLtgar
(ii) Alcohol
(iii) , Any olher produc£ Toto! of (I) Less: Direct Productioil E.x:penses Gross Profit(l·2) Less:
(a) Manufacturing Expenses
(b) Administrative Expenses Year ended - 200 200 200
(c) Selling and Distribution Expenses Tot>l of (1)
(5) Operating Prof1t before depreciation and interest {3-4)
(6) Add: Other income
(7) Net profit before depreciation and interest (5+6) l "-1ll rr ~ 3 (iL
11.
(3) Less: (:1) Depreciation
(b) Interes~ Total of (8) {9) Net profit before taxallon (7-8) (I 0) Less; Provtsion for taxatton (II) Net proft t after tax (9- I 0)
(12) Equity as at the end of
(13) Retmn on equity [(ll!( 12)""100]
(14) Debt as at the end of
(15) Average mlerest rate on debll(Bb)/{l4Yl00]
(16) Wetghted average cost of capital 11 (12)'( 13)+( I<)'( 15) Iii C 12)+0 'l 11 (I') Cane price payable (Rs.lakhs)
(2) Cane price paid (Rs.lakhs)
(3) Cane price ;mearS (Rs. lakhs) C. Financial position (for three consecntrve years precedmg tbe year 10 which dle application is made) rr Sources of Funds Shareholders'/owners' funds
(a) Capital
(b) Reserve and ~urplus Total
2. Loan Funds
(a) Secured Loans
1. Term loar.s
2. Sugar Development Fund Loans
3. Working Capital Loans Total
(b) Unsecured Loans L From Banks/Fls. 2 Others Application or'Funds Ftxed Assets
(a) Gross Block Total Total (a+b) Total of(!) Less: Depreciation ; 3 Year endect 200 200 200 I~J ]4 THE GAZETTE OF JNDJA. EXTRAORDINARY
(b) Net Block Add Capital work :n Drogress Total 2 Investments 3 Working capital
3.1 C1.1rrent Assets Loans and Advances:
(a) Inventories
(b) Snndry Debtors
(c) Cash and Bank balances
(d) Other c\1n~.~t i\ssets
(e) Loan and advances ~ Total (a roe)
3.2 Cn:rcm \labilioes and p~ovis1on
(a) Current liabJl!ties
(b) PrO'IISIOfiS Total (a+b) Worf'Jng Capital (3. 1 minus 3.2) Total of (II)
6. Manag:;ment
7. ·'·
(a) Bo;ud of Directors
(b) ExecutiVe set-llp
(l) Brief description of the proposed project and how the project is expected to improve the operations/viability of the .•mg11r factory (e.ndose a copy of the pro}ect repon)
(2) Proposed ethanol manufacruring capacrry ((000 litres)
(3) ProJeCt impl~mentation period (nlont!J:s) B. Financial Details as appraised (Rs. lakhs) (I) Capital cost of project
(2) So\wces of financing Equity.-
(a) Promoters' conlriblltion Debt:
(a) Sugar Developme:nr Fund Loan
(b) Tenn loan Total investment C. Project viability details:
(1) Average return on Equity(%)
(2) Average interest raft> on debt(%)
(3) Weighted average cost of capital(%)
(4) Aver-age Debt Service'Co\lerage Ratio
(5) Pny back period (years) [P_~RT IT-SEC. 3(il] [ '<l'i Il-1¥5) (ij]
(6) Net Present Yal~1e (Rs. 'WOO)
(7) Lnternal Rate of Retmn (IRR) (%)
8. \\'hether the project has been approved by an All India Financial InsrirutionJSchcdulcd Bank for assistance under its relevant scheme (name of the sche:ne and pattern of fund1ng of the scheme):
(71) lf so enclose a certified irue copy of the "Leuer of Intent" iss ned by the Lead Institution
(b) List out any condition(s) of material narure .. stipulated by ihe Lead Institutmn includine rate of interest repayment penod and secunty -
9. Please fmnish the project profitability and cash now statement m the proforma at AnneAl\! e. Place: Signature . Date: Name ..... . Designation .. Name and Address of the Sugar Factory (Occupier) ANNEXURE Project profitability and cash flow statement (for the year or investment and subseqnenf 10 years) Capaciry Utilisation(%) I. Profitability
(1) Sales net of Excise Duty
(2) Less: Direct Pmduction Expenses
(3) Gross Profit (1·2)
(4) Less:
(a) Manufacruring Expenses
(b) Administrative Expenses
(c) Selling and Dislribution Expenses Total of (4)
(5) Operating profit before depreciation :md interest (3-4)
(6) Add: otlH:r income
(7) Net profit before ctepreci<:~tion and interest (5+6) 15 Year ended 200 200 200 (Rs. in lakhs) ,,, ., 16 THE GAZETTE OF TN IlL~. EXTRAORDiNARY (PARTll-SEC ](•)]
(8) Less
(a) Depreciation ' '
(b) Interest Total of (8)
(9) Net profit before taxatJon (7-8) ( 10) Less • Provismn for ta:r;atwn (II) Net profit after tttx (9-1 0) • (12) Eqnity as at the end of
(13) Return on eqlllty [(I : )/( 12)" J 00]
(14) Debt as at c~.e end of (IS) Average interest rate on c1ebt !(8b)/(14)"'J00J
(16) Weighted average cost of ~apical I I C m•c; 3)+(14)'( 151 Jil (12)•( 1411 J
2. Cash flows
(1) Net profit after tax (see item I( J l))
(2) Add· hems debited to prof1t and loss account
(a) Depreciation
(b) Interest expenses
(c) Incomc:-tax provisions
(d) Other non-cash debits Toial of (2)
(3) Total 0+2)
(4) Less: Items credited to profit and loss accounl
(a) Inte:·est income
(b) Dividend income
(c) Other credits (to specify) To\a\ of (4}
(5) Total (3-4)
(6) Less:
(a) Interest paid
(b) Income-tax paid
(c) Divi.dends paicl Total cf (6)
(7) Total (5-6)
(8) Add: revenue receipts and actually received
(a) Interest
(b) Divide.od
(c) Other receipts (to specify) Total of (8)
(9) Toea! (7+8)
(10) Workmg Capital Changes
(i) Add'
(a) Decrease in sunrlry debtors/recet\'ab\es
(b) -Decrease in inventories
(c) Increase in sundry creditors/payables Total of {i)
(ii) Less.
(a) Increase in sundry debrorslrecetv~:~bles
(b) Increase in inventories
(c) Decrease in sundry creditors/payables Total of (ii) l!.__ Total of ttem lO((l)-(ii)]
(11) Cash flow from operations (9+10) (l2) Capital Items·
(i) Add·
(a) Issue of share Capital
(b) Issue of Debentures
(c) Long term loans
(d) Sale of Assets Total of (i)
(ii) Less:
(a) Jnvestment in Project
(b) Redemption of Capital
(c) Redemption of Debentures
(d) Repayment of long·term loans Total of (ii) Total of Item 12[(i)-(ii)]
(13) Totalcasbflow(ll+l2)
(14) Debt Service Coverage ((ll)/{2b+l2hl(i-Tax rate)]}
(15) Payback. period (years)
(16) Net Present Valtle (discount rate at !(16) above) (17} Internal Rate of Ret1.1rn 17 [F No.ll-18/2015-SDF] PRASHANT TRIVEDI, It Secy. (S&SA) Note:· The principal notifLcation was published in the Gazette of India vide notification number G.S.R. 752(E) dated 27th September, 1983 and was last amended vide notification number G.S.R. 210{E) dated 8th April, 2013. Primed by the Manager. Government of India Press, Ring Road, Mayapwi, New Dclhi·ll0064 and Pubhshed by the.Control!er of PublicJti011s. Delhi-110054. ,,~