-· r · ~ltl-T-"""" 1(!) J
7. X110Cfi!Of.IO m::cm 27 (01) <'IT%<:9 ~2.0'\ .·1996
8. X110CfiTORO ~r 656 (01) ?:'Rt01 21.1 U 997
9. X110CfiTOf.iO ~ 91 (01) ~<S 12.Q2.2001
10. X110Cfi!Of.IO ~ 886(01) "di%0 06.12.200·i
11. mo<mof.io fi"--«n 443(01) <IT-I'Rs 21 .06.2002; 311-x
12. mo<mof.io ~ 584(01) cmrur 19.08.20021 ~!1'./!STRY OF CO:><Sl!MER AFFAIR~. FOOD ,\i'/D r!JBU{ DlSTflHHiTION (0l.'pa;1rncnt {If Food and Publir iJi:.tribt!ii:m) NOT!F!C\TIOS Nc;\ DeihL the 2l)!h J;mua~-. ~uo~ G.S.R.67(E).- In exercise of the powers confcrrcu by section q c>l the Sugar Development Fund ),ct. 1982 (..J of 19g2l. th~ CcntrJl f;oncrnmcnt he,·cby makes the. follo\\ing rules further to om end the Sugar Dcwloprncnt Fund Rules, t9il;l. namely:-
1. (1) These mlcs may be c"llcd the Sugar De,·elopmcnt Fund (Amendment) Rules, 2003.
(2) They shall come into i(lrcc 1)11 the Lbte or their publicatitlll in th,· Official Gazette.
2. In the Sugar Dc,·elopmcnt Fund Rules, 1<11'!3, (hercin~lt'll'r rcfl'ITcti In as the said rules), in rule 2, after cl~wse (k), the Cull<n,ing ciausc (kk) sh;ril he inserted. namely: - '(kk) "scheduled bank" means a hank fo;· the time-being included in the Second Schedule to the Rcscn·c flank nr lndi;1 Act. 19:<--1 (:! d !93-tl;· ) I THE GAZETTE OF INDIA EATRAORDINARY 3· In the said rules, in rule 7, in sub-rule (1), for the brackets, \vords, figures and letter "(rules 16, 17, and 18 and 18A)", the brackets, words, figures and letter "(rules 16, 17, 17A, 18, 18A, 20, 21, 22 and 23)" shall be substituted. 4· In the said rules, in rule 21, in sub-rules (4) to (10) (both inclusive) and sub-rule (12) for the words ··committee for rehabilitation" the words "Committee" shall respectively be substituted. 5· In the said rules, after Chapter X, the follmving Chapters XI and XII shall be inserted, namely: - "CHAPTER - XI lLmnn for production of Anhydrous Alcohol or lEtlh:mol from Alcohol
22. (1) A sugar factory shall be eligible to apply for a loan from the Fund under this rule if-
(a) the sugar factory has been approved for financial assistance by a Financial Institution or a Scheduled Bank for implementing a project for production of anhydrous alcohol or ethanol from alcohol by installing the required plant and machinery prmided thJt at least twelve and a half percent of the cost of the project is being met by the sugar factory from its 01'11 resources as part of the promoters· contribution required by the Financial Institution or the Scheduled Bank, or
(b) the sugar factory is implementing a project appraised by a Financial Institution or a Scheduled Bank or an agency approved by the Central Go,-ernment for this purpose, for the production of anhydrous alcohol ur ethanol from alcohol by installing the required piant and machinery and subject to the said appraisal, • ' . • .. ·~o 11-U'% 11i)] undertakes to meet at least twenty-five per cent of the cost of th!O project from its own resources.
(2) A sugar factory that has a~ailed of a loan under this rule shall not be eligible for another loan during the period in which the previous loan under this rule along with interest thereon has not been fully repaid.
(3) A sugar factory, which is in default of payment that has become due in respect of the Fund and the Levy Sugar Price Equalization Fund, shall not be eligible to apply for a loan under this rule.
(4) A sugar factory shall not be eligible to apply for a loan under this rule for one or more of the follov.1ng, namely: -
(i) second hand project, equipment and machinery;
(ii) refinancing;
(iii) financing of cost over run;
(iv) project commissioned prior to the date of application to the Fii1ancial Institution or the Scheduled Bank for financial assistance under their relevant scheme or projects commissioned before making an application to the Committee in cases where the sugar factory is implementing the project on its ovm;
(v) a project below the minimum economic size, which the Central Government may determine from time to time.
(5) The Committee may, v.1th the previous approval of the Central Government make any class or 'classes of sugar factory ineligible for loan. under this rule .
Provided that where the Committee decides that an applicant is not eligible, reasons therefor shall be recorded in wri ling. ,< ... ·
(6) An eligible sugar factory under this rule, shall make an application to the Committee in Form \'11 in duplicate along v.1th a copy each of its balance 13 l-1 =========T='f=IE=C':='·=\Z=--E=·l=T~E=OF JND!A: ~:>;])~·~2~_B_H~~~~- -_IP_·-J< 1 !l-·--Su- 3(i\' sheet and profit and loss account for lhe last three consecuti\·e years preceding the year in which the application is made.
(i) All applications made under suh-rule (6) shali first be placed before the sub-committee constituted by the Committee for this purpose.
(ii) The Member Secretary of the Committee, who shall be the convener of the sub-committee, shall call a meeting of the sub-committee at least once in every month, provided that in a month in which the Committee has received no application, it shall not be necessary to hold the meeting.
(iii) The snb-commi ttec shall consider the application and all other relevant factors and give its recommendation for the consideration of the Committee in its next meeting.
(8) It shall be open to the Committee and the sub-committee to call for ·any further information from the applicant or refer the matter to an expert or group of experts to make an investigation and report on any aspect relating to the application before making their recommendations.
(9) (a) The Committee shall. after taking into account the recommendations of the sub-committee, and after considering the information or report obtained by the Committee under sub-rule (8), if any, and all relevant aspects, make its recommendations as to the amount of loan that may be made to the sugar factory. (b} The Committee rnay also, with the previous approval of the Central Government, issu~ directions to the sub-committee to make a recommendation directly to the Central Government on the amount of loan that may be inade to the sugar factory.
(10) (a) In respect of a S<.Jgar factory that has applied for a loan, falling under clause (a) of sub-mle (1) of this mle, the Central Government may after consideration of the recommendation of the Committee and any other .. I relevant factor with a view to improving its '~ability, authorize payment of such amount of loan not exceeding the amount required by the Financial lnsti tution or the Scheduled Bank, as the case may be, to be contributed by such sugar factor/ as promoters' contribution as may be determined by tl1e Central Government.
(b) In respect of a sugar factory that has applied for a loan, falling under clause (b) of sub-rule (!) of this mle, the Central Government may after consideration of the recommendation of the Committee and any other relevant factor vdth a view to imprm'ing its \~ability, autJwrize payment of an amount of loan not exceeding seventy five per cent of the eligible project cost, from the Fund. \
(n) The amount of Joan authorised under sub-rule (10) shall be disbursed by the Central Government to the sugar factory or paid by it to the -Financial Institution or the Scheduled Bank, as the case may be, for disbursement to the sugar factory, either in lump sum or in instalments as may be considered necessary by the Central Government, pro,ided that where the loan has been authorised under clause (b) of sub-rule (10), the loan shall be disbursed only after the Central Government is satisfied that at least twenty ftve per cent of the cost of the project has been deployed by the sugar factory.
(12) The Financial Institution or the Scheduled Bank, as the case may be, shall treat the amount authorised under cbuse (a) of sub-rule ( 10) as a part of the promoters' contribution.
(13) . The loan from the Fund under this rule shall carry a rate of simple interest of six per cent per annum, which may be re\'ised by the Central Government from time to time.
(14) (a) . The loan from the Fund along v.ith the interest due thereon shall be recovered in half-yearly instalments not exceeding eight in number. y, THE GAZEITE OF rNDJA ·EXTRAORDINARY I PART II-· Sc::. J(ilJ
(b) The repayment of the loan with interest thereon shall commence after the expiry of one year reckoned from the date of each disbursement of the loan from the Fund.
(15) (a) The disbursement of the loan authorised by the Central Government tmder sub-rule (10) shall be preceded by a tripartite agreement between the Central Government, the sugar factory and the Financial Institution or the Scheduled Bank, or a bilateral agreement between the Central Government and the sugar factory, as the case may be.
(b) The agreement referred to in clause (a) above, shall contain the terms and conditions "~lh regard to the utilization of the loan including monitoring of the implementation of the project by an agency designated by the Central Government in this behalf, the period of repayment including the number and amount of installment, payment of interest, the manner of such repayment or payment, security to be pro,~ded for the loan and any other matter incidental to the loan.
(16) (a) The sugar factory shall, after the execution of the agreement referred to in sub-rule (15) above, furnish a B:mk Gtwrantee from a Scheduled Bank as security for the loan to the satisfaction of the Central Government.
(b) The Bank Guarantee shall cover the amount of loan and the interest thereon for the full period ofrepayn1ent aspro,·ideu in sub-mle (1.~).
(17) (i) In respect of loans authorised under clause (a) of sub-rule
(10) of this rule to a sugar factory, the designated financial institution shall, within thirty days of receipt of any amount from the loance sugar factory by way of repayment of loan from the Fund or payment of interest thereon or any other receipts in accordance with the provisions of subcmle (14) and the agreement referred to in suborule (15), credit the said amount to the Fund. -.
(ii) In respect of loans authorised under clause (b) of sub-rule
(10) of this rule to a sugar factory, the sugar factO!)' shall make repayments of the loan and payment of intere.st thereon and credit the said amounts to the Fund in terms of sub-rule (14).
(18) In case of any default in repayment of the amount of loan, or payment of any instalment thereof, or payment of interest thereon, an addi tiona! interest at the rate of two and a half per cent per annum on the amount and the period of default shall be payable by the sugar facto!}':
Provided that in case of two consecutive defaults in repayment of the loan or instalment thereof, the Central Government shall realize the entire · amount of loan along with the interest thereon from the Bank Guarantee furnished under sub-rule (16) or any claim of the sugar factory against the Central Government or any other security provided for the loan.
Explanation: - For the purpose of this rule, the expression sugar factory includes any unit thereof. 23 (1) Any sugar factory having an installed capacity of 2500 Tonnes Crushed Per Day or higher to which financial assistance has been approved by a Financial Institution or a Scheduled Bank for it to implement a project of bagasse-based cogeneration of power by installing the required plant and machinery shall be eligible to apply for a loan from the Fund under this rule for implementing the project provided that the project envisages marketable surplus of cogenerated power and provided further that at least ten per cent of the cost of the project is being met by the sugar factory from its O'<'<TI internal generation of funds as part of the promoters' contribution required by the Financial Institution or the Scheduled Bank. 37 \ T;-l[ G -\.~i.:TTE Of·7 tNDl.fl. f.XTRA0RDINARY - ·----------------·-··--
(2) .-.\ SU8ar f3ctory tbat lias availed of a lo~n under this rule shall not be eligible to apply for a Joan durlng the period in v.,·hk.h that Joan alOng \\~th {3) A. ~ugar fa('tOl'}", \vhic'h is in default of payment that _has become due in respect of the Fund and the Levy Sugar Price Equalization Fund, shall not be eligible to apply for a loan under thi.~ mle. (4} A. sugar factory shall nc.t be eligibJc to .apply for a loan under this ru'~ 'o"' ..... :1e <)" n'0~0 ,-.f t'l,p +"ollo,,.~:'""'j:r na~el\·· >-- ~ ..... 1 .!. vJ. ~ ~ 1. . '~ '-' ••• ~ --'·~'-~c., -~1· ~-. ·• ( ' 1 I,
(ii)
(iii)
(iv) second hand project, equipment and machinery·; refinancin~; financing of cost. over run; ·project comn1issioi1ed prior to date of application to the Financial Institution or the Scheduled Bank.
(5) The Co,mmittee n1::1y, .,1-\'i\h the prcnous approval of the Central Government: make any .::bss or dJ.sses of sugar factor_:~,· ine.ligible to apply for loan under this rule:
Provided that where the Committee decides that ~n applicant is not eligible, the reasons therefor sha\1 be recorded in '.Witing.
(6) .·',n eligible sugar factory under this rule, shall make an application to the Comr:-,ittee in Form \"III in duplicate along with a copy each of its balance sheet and profit Jnd loss account for the last three consc:cuti1·e ~·ears preceding the year in which the applic<Jlion is mode. . . •
(7) (i) PJl apphcaiior,s !i'l:Jde vnder sub---rule (6) .shall first be placed ~efore the sub-cornL1ittee t:on.st1tt~ted l;_y· t.he Con;rninee for this purpose.
(ii) The ~.1err1ber Secretary of the Co;rm1ittee) v:ho shall be t~e convener of the sub-corrH1).ittee, shaH c~\11 a n1~eting of the sub-committee at least once in every month, prO\idcd that in a month in which the Committee has received no application, it shall not be necessai)' to hold the rneeting .
(iii) The sub-committer. shall consider the 2pplicaiion and all other relev3nt factors and give its recommendation for the consideration of the Committee in its next rneeting.
(8) H sh:_1H be oven to th·2 Cotnmittee and the sub-committee to call for . . any further infq.nnation from the applicant or ::·efcr the rr1atter to an expert or group of experts to make an investigation and report on any aspect relating to the application before making their recommendations. {9) The Committee .shall) after taking into <Jcccn.:nt the recommendations of the sub-committee, and after considering the information o~ report obtained by the Committee U:.1der sub-rule (8), if any. and all rclcYant aspects, ma..k:e its recoinmendations to the Central Go\·ernment as to the <J.mount of loan that may be made to the sugar factory. (1o) 11.e ({;ntra1 Govern1nent may, after considerat1on of the recommendations of the Committee and any otber relevant factor with a view to improving the viability of the sugar factcr_y, authmize pay1nent to a sugar factory, of such amDunt of loan r..ot exceedi:ng the arnount required by the Finc.1nd8.i Instituti.on or the Scheduled Bank, as the case may be, to be contributed by such sugar factory as promoters' contribution, as may be determined by the Central Government.
(u) The amount of loan authori2ed under sub-rule (10) shall be disbursed by the Central Government to th~ sugar factory or paid by it to the Financial Institution or the Scheduled Bank as the case may be, for disbursement ' . -10 THE GAZETTE OF INDIA EXT~-\ORDINARY to the sugar factory, either in lump sum or in two or more instalments, as may be considered necessary by the Central Government.
(12) The Financial Institution or the Scheduled Bank, as the case may be, shall treat the amount paid to it under sub-rule (11) as the promoters' contribution or as part thereof required to be raised by the sugar factory for availing of the loan under the relevant scheme of the Financial Institution or the Scheduled Bank for bagasse-based cogeneration power projects.
(13) The loan from the Fund under this rule shall carry a rate of simple interest of six per cent per annum, which may be revised by the Central Government from time to time.
(14) (a) The repayment of the loan shall commence after the expiry of three years reckoned from the date of each disbursement of the loan and shall· be repaid in half yearly instalments not exceeding ten in number.
(b) The interest on the said loan shall be paid annually for the first three years from the date of each disbursement of the loan after which it shall be paid half yearly along with the instalment of the repayment of .the principaL
(15) (a) The disbursement of the loan authorised by the Central Government under sub-rule (11) shall be preceded by a tripartite agreement between the Central Government, the sugar factory and the Financial Institution or the Scheduled Bank, as the case may be.
(b) The agreement referred to in clause (a) above, shall contain the terms and conditions with regard to the utilization of the loan including monitoring of the implementation of the project by an agency designated by the Central Government in this behalf, the period of repayment including the number and amount of instalment, payment of interest, the manner of such repayment or payment, security to be provided for the loan and any other matter incidental to the loan. • ••
0.,1'1ll-=3(i)]
(16) (a) The sugar factory shall, after the execution of the agreement referred to in sub-rule (15) above, and before the disbursement of the loan under sub-rule (11), furnish security for the loan to the satisfaction of the Central Government.
(b) The security shall cover the amount of loan and interest thereon for the full period of repayment as prm~ded in sub-rule (14) above, and shall be furnished iri any of the following manners, namely: -
(i) Bank Guarantee from a Scheduled Bank, or
(ii) A mortgage on all immovable and movable properties of the sugar factory on pari passu first charge basis failing which on the basis of an exclusive second charge.
(17) The designated Financial Institution shall, "~thin thirty days of receipt of any amount from the loa nee sugar factory, by way of repa'111ent ofloan under this rule or payment of interest thereon or any other receipt, credit the said amount to the Fund.
(18) In case of any default in repayment of the amotUlt of loan, or payment of any instalment thereof, or pa}1nent of interest thereon, an adc.lition~d interest at the rate of two and a half per cent per annum on the amount fm the period of default shall be payable by the sugar factory:
Provided that in case of two consecutive defaults in repa_\mcnt of the lr>,lll or instalment thereof, the Central Government shall realize the entire ~mwunt "r loan along with the interest and additional interest thereon from the scc•.Jrit,· fumished under sub-rule (16) or any claim of lhe sugJr liKtor:-· against the Central Government. 4! ~2 THE GAZEHE OF INDIA • EXTRAORDINARY ---- ---·------- £."\planation: - For the purpose of this rule, the expression sugar factory includes any unit L~ereof. ,~
6. In the said rules, after Form \'I, the foilowing Forms VII and V!ll and the annexur2s relating thereto shali be inserted, namely: - llJP'll'UCATlON !FOR FiNP.I:-.JCiPJ. ASS!S'ffo.NCE FROM T!Hl!E §UGAR DEVELOPMENT iFiln'-"D FOR IlVIll'LEM'&ITIITIJG. l'R0~!SC1fS FOR PRODUCTION OF ANHYDROUS .tlll..:f:OH(!i~ .. GR ETJH .. ANOL FROM ALCOHOL ; r·-- I J';aJ:~e-o:i'appllca-nt:' ... - - - - ..... -· . --- --·-·- I 1---------------------------+-------------- \ II. \ Addres&: \ ' 1 1 ((i!l_.,'J Registered Oftice 1 1 Location of the factory I I !m.-. 1 : Constitution (Wbether Cooperatfve Societ~·, Private/ --~ · , Public Ltd. Company, .Joint Sector/ Public Sector I , I Company): I ~-- I --------~ ---o-,.----:-o--- -------+---------------i ~ IV-:--fDate oflncorporation/ Registration: . ' ' \' :-··--t Exi;; t!ng_A_c-ti ,1 ty jp2.st performance: I II fi 1 l3riet1y state the present activities: · CII) Performance during the last 3 years: I I ; !\. Salient production and Operating Results: Year ended i (for three comeculiYe years preceding the year in 200 200 200 ! which ihe applicJtion is made) i , 1 - (!) Li-censed cmshing capacity (Tonnes Crushed per Day) I (2) Inst~:lled crushing capacity (Tonnes Crushed per 1 Day) I (3) Licensed capacity of the alcohol manufacturing I I plar:t ("ooo litres) . , ., ___ l_~J~l~~~~}~l-~j; L~~faCl ty--~-- ~~~--:l~o_h_o __ l_m ___ a_n_u_f_a_ct_u_n_· n_g _ _j__ _______ .:__ ____ _jj • • I: !-~l<•ll
(5) Installed capacity -oTethan"ol manufacturir..g plant j. ('ooo litres) 1
(6) Capacity utilization{% of installed capacity) I w ~~ i
(b) Alcohol
(c) Ethanol
(7) Production ----~-~-·--~-----~ ·'-=B-. ~W.~o-r~ki~.n-g-r~es-u~lt-s:--------~ I Year e::.:n::.:d::.:e:.:d:__ __
(a) Sugar ('ooo tonnes)
(b) Alcohol ('ooo litres)
(c) Ethanol ('ooo litres) (for three consecutive years preceding the year in l2oo 200 · 200 · which the application is made) I ~~) Sales net of Excise Duty I
(i) Sugar
(ii) Alcohol
(iii) 1\ny other product T'ltal of (l)
(2) Less: Direct Production Expenses
(3) Gross Profit (1-2)
(4) Less:
(a) Manufacturing Expemes
(b) Administrative Expenses
(c) Selling & Distribution Expenses Total of (4)
(5) Operating Profit before depreciation interest(3-4)
(6) Add: Other Income I I I . I and J I
(7) Net Profit before depreciation and interest (5+6)
(8) Less:
(a) Depreciation
(b) Interest Total of(8) L--··- . .1 ________ __.:___.:___:__:__._ .. _._ .. _ ···----~--···-···'-········-···- -•--··--• ·•··--•· •••• •• \ +! I l THE GAZETTEOFfNDIA Eli.'TR.A.ORD!NARY J (9) Net Profit before taxation {7-8)
(10) Less: I Provision for taxation
(11) Net Profit after tax (9-10)
(12) Equity as at the end of
(13) Return on equity [(11)/(12)*100)
(14) Debt as at the end of
(15) Average interest rate on debt [(8b)/(14)'10o)
(16) Weighted average cost of capital [ {(12)*(13) + (14)*(15)}/{(12)+(14)} l II.
(1) Cane price payable (Rs. Lakhs)
(2) Cane price paid (Rs. Lakhs)
(3) Cane price arrears (RS. Lakhs) C. Financial position I (for three consecutive years preceding the year m 1 which the application is made) I I. Sources of Funds
1. Shareholders"/ owners' funds
(a) Capital
(b) Reserves & Surplus Total
2. Loan Funds
(a) Secured Loans
1. Term loans
2. Sugar Development Fund Loans 3· Working Capital loans Total 200 Year ended· 200 200 . --- ·----------- ---- __ J _________________ __ [ 'AP1 ·- • • 'Vl. I L ·"lff!TS](i)] 'll«! "" ~ : '>Rl!~'T{UJ
(b) U nsecui·ed Loans
1. From Banks/ Fis
2. Others Total Total (a+b) Total of(I) II. Application of Funds
1. Fixed Assets
(a) Gross Block Less: Depreciation
(b) Net Block Add: Capital Work in Progress Total
2. Investments 3- Working Capital
3.1 Current Assets, Loans & Advances
(a) Inventories
(b) Sundry Debtors
(c) Cash & Bank balances
(d) Other current assets
(e) Loan & advances Total (a to e)
3.2 Current Liabilities & Pro\~sion
(a) Current Liabilities
(b) Pro~sions Total (a+b) Working Capital (3.1 minus 3.2) Total of (II) Management:
(a) Board of Directors
(b) Executive set-up ! i l I ! : j __________________ : \lll I I I I_ - THE GAZETTE OF INDIA. EXTRAORDINARY I ~~ (!) Brief description of the proposed pro)ecCand I how the project is expected to improve the operations/ viability of the sugar factory (enclose a copy of the project report). ! I I I
(2) Proposed ethanol manufacturing.capacity ('ooo litres)
(3) Project implementation period (months)
(1) Capital cost of project
(2) Sources of financing Equity:-
(a) Promoters' contribution Debt:-
(a) Sugar Development Fund Loan
(b)· Term loan Total In\'estment I C Project viability details 'I I . (1) Average return on Equit~· (%1
(2) Average interest rate on deht (%)
(3) Weighted average cost of capital(%) 1 (.:t) Average Debt Sef\~ce Coverage Ratio ' (5) Pay back period (years)
(6) Net Present Yalue (Rs. ·ooo)
(7) Internal Rate of Return (!RR) (9o) I - I . . I Whether the project has heen approved by an all-India i , Financial Institution/ Scheduled Bunk for ~1~sist~mce : [ under its relevant scheme (n;1me of the scheme and 1 ! pattern of funding of the scheme): I. I i (a) H so, enclose a ccrtiliecl true copy of the "Letter of ' ! Intent" issued by tile LeJd Institution I ' I (b) ' List out am· condition(~) of materiJI milure stipulated hY.thc·l.c~td Institution including rJlc uf! • • H-~3(i)] . L l interest,-repayment ~eriod-and security. -~~- -~_j IX Please furnish the project profitability and cash flow J statement in the proforma at Annexure to Form VII. ---'--~~---~-- -·----- ---~-~~-~'-----~---~~ Place: Date: Signature: _______ _ Name: Designation: -:-:-----,-- Name & Address of the sugar factory (Occupier) AJITNUXURJE TO FOJRM-VH J!>lll.O.ffiC'f Jl>ROFITAI!IUTY AND CASH FWW STATEMENT (for the year of investment and subsequent 10 years) Year ended 200 200 200 ..... (Rs. in lakhs) Capacity Utilization (%) !. lP'ROFITABiiLITY
(1) Sales net of Excise Duty
(2) Less: Direct Production Expenses
(3) Gross Profit (1-2)
(4) Less:
(a) Manufacturing Expenses
(b) Administrative Expenses
(c) Selling & Distribution Expenses Total of (4)
(5) Operating Profit before depreciation and interest (3-4)
(6) Add: Other Income
(7) Net Profit before depreciation and interest (s+6)
(8) Less: TP.E GAZEITEOF INDIA: EXTRAORDINARY
(a) Depreciation
(b) Interest Total of (8)
(9) Net Profit before taxation (7-8)
(10) Less: Provision for taxation (u} Net Profit after tax (9-10)
(12) Equity as at the end of
(13) Return on equity [(n)/(12}'*100]
(14) Debt as at the end of
(15) Average interest rate on debt [(8b)/(14)*wo]
(16) Weighted average cost of capital [{(12)*(13) + (14)*(15)}/{(12)+(14)}] II. CASH JFJWWS
1. . Net Profit after tax (see item I (n))
2. Add: Items debited to profit & loss account
(a) Depreciation
(b) Interest expenses
(c) Income tax provisions
(d) Other non-cash debits Total of(2) 3· Total (1+2) 4· Less: Items credited to profit & loss account
(a) Interest income
(b) Dividend income
(c) Other credits (to specify) Total of (4} · 5· Total (3-4) (PART II ' ::ill] •
6. Less:
(a) Interest paid
(b) Income tax paid
(c) Dividends paid Total of (6)
7. Total Cs-6)
8. Add: Revenue Receipts actually received
(a) Interest
(b) Dividend
(c) Other receipts (to specify) Total of (8). 9· Total (7+8)
10. Working Capital Changes
(i) Add:
(a) Decrease in sundry debtors/ receivables
(b) Decrease in inventories
(c) Increase in sundry creditors/ payables Total of (i)
(ii) Less:
(a) Increase in sundry debtors/ receivables .
(b) Increase in inventories
(c) Decrease in sundry creditors/ payables Total of (ii) Total of item 10 [(i)- (ii))
11. Cash flow from operations (9+10)
12. Capital Items ~(·5 (il/.?0\l>- -7
(i) Add:
(a) Issue of share Capital
(b) Issue of Debentures
(c) Long term loans
(d) Sale of Assets Total of (i) 49 ="=' ===========T~H=EG~A~L-c:::,c.TI~c OF INDIA E\TRAORDI~ARY [PART li-SE<' 3(1)[
(ii) Less:
(e) Investment in Project CO Redemption of Capital
(g) Redemption of Debentures
(h) Repayment of long-term loans Total of (ii) Total of item 12 [(i)- (ii)]
13. Total net cash flow{ll+l2) 14· Debt Service Coverage [(u)/{2b+l2h/(J-Tax rate}]
15. Payback period (years)
16. Net Present Value (discount rate at U16) above)
17. Internal Rate of Return FORlVil-VHI Al!>JI>U<CATION IFOJR. IFINANCllAL fo-SS!STANCE FROM §UGAR DEVELOPMENT fUND TOW AROO . JI>IR.OMOTERS' CONTRII!BlUTION IFOR l'INANCJING BAGASSE BASED COGENEIR.ATION I'OWEIR JPll.OJEcrSj SQl.EME. o,;-·- I. -Name Ciia!JJ)llcarit:.,., . .. -- --- -------0--------·-----~-, ' II. Address:
(i) Registered Offi ce
(ii) Location of th e factory Ill. Constitution ·(Whetrie r-Cooperati\;e SoCiety, Private/ . Public Ltd . Com pan. Company): IV. Date of Incorp-oration/ v, Joint Sector/ Public ,~e~tor_l_' -· -------- -----··---------~ Registration: l 1 I v. Existing Activity/past I l
(i) Briefly state the present aetivities:
(ii) Performanc e during the last 3 ::,iears: ~--- -------- ---- ---. A. Salient production and Operating Results: (for three consecutive years preceding the year in zoo which the application is made)
(1) Licensed crushing capacity (Tonnes Crushed per Day)
(2) installed crusllli<g capacity (Tonnes Crushed per Day)
(3) Area under sugarcane (acres)
(4) Average Yield (tonnes/ acres)
(5) Total production of sugarcane in the area (\akh tonnes)
(6) Duration of the season net of stoppage (days)
(iii) Total cane crushed (lakh. Dones) NOTE: (i) In case the performance has not been upto the accepted norms and if there has been wide fluctuation in the performance, please state the reasons, in brief.
(ii) Please furnish installed capacity, production and efficiency figures in respect of other activities, if any, such as distillery, paper unit, etc.
(iii) Installed capacity, production and efficiency details for existing power cogeneration plant, if any.
(iv) Details of Sugar Development Fund and Levy Sugar Price Equalization Fund dues outstanding on the date of application. 51 Year ended 200 .I B. Working results: ____ Y::...e=.:a:.:r...:e::..n:.::d:.::e.:.d __ 1 (for three consecutive years preceding the year in 2 oo 200 200 which the application is made) I.
(1) Sales net of Excise Duty
(i) . Sugar
(ii) Alcohol
(iii) Any other product 1 Total of (1) ·1
(2) Less: I Direct Production Expenses , '--- ---·-·--·------·--·-~----·-----------·-·---j __________ --·-·--·----~~ ~--· 52 THE GAZETTE OF !ND!A: E.XTRI,ORDINARY c-~~-~~~~~c-o-~c---~----------·
(3) Gross Profit (x-2) l_
(4) Less: · (a) Manufacturing Expenses
(b) Administ.ra tive Expenses
(c) Selling & Distribution Expenses Total of(4)
(5) Operating Profit before depreciation and interest (3-4)
(6) Add: Other Income
(7) Net Profit before depreciation and interest(5+6) (8} Less:
(a) Depreciation
(b) Interest Total of(8)
(9) Net Profit before taxation (7-8)
(10) Less: Provision for taxation
(u) Net Profit after tax (9-10)
(12) Equity as at the end of
(13) Return on equity [(n)/(12)*wo]
(14) Debt as at the end of
(15) Average interest rate on debt [(8b)/(14}*wo]
(16) Weighted average cost of capital [{(12)*(13) + (14)*(15)}/{(12)+(14)}] ll.
(1) Cane price payable (Rs. Lakhs)
(2) Cane price paid (Rs. Lakhs)
(3) Cane price arrears (Rs. Lakhs} ---------·--·---·-- _____ _L [PART ll-SEc. 3(i)j f 'Wlll-=3(i)] ---rc-:- Finandafposition- ---- 1 (for three consecutive years preceding the year m which the application is made) I. Sources of Funds
1. Shareholders/ owners funds
(c) Capital
(d) Reserves & Surplus Total
2. Loan Funds
(a) Secured Loans
1. Term loans
2. Sugar Development Fund loans 3· Working Capital loans Total
(b) Unsecured Loans
1. From Scheduled Bank(s)/ Financial Institutions
2. Others Total Total (a+b) Total of (l) Ii. Application of Funds
1. Fixed Assets
(b) Gross Block Less: Depreciation
(b) Net Block · Add: Capital Work in Progress Total
2. Investments 53 200 200 '200 ------·--- . I I I I I I i I ~:;.;~=========· ·=rH~EG~A~Z='oEC:,TIE~OF li'_D_IA_EXTR.t\ORDINARY Vl. vu
3.1 Current Assets, Loans & Advances
(a) Inventories
(b) Sundry Debtors
(c) Cash & !lank balances
(d) Other current assets
(e) Loan & advances Total (a to e)
3.2 Current Liabilities & Provision
(a) Current liabilities
(b) Provisions Total (a+b) Working Capital (3.1 minus 3.2) Total of(IJ) Management:
(a) Board of Directors
(b) Executive set-up A. (1) Brief description of the -proposed project and how the project is expected to improve the operatio~s/ I viability of the concern (enclose a copy of the pro_wct report).
(2) Proposed power plant capacity (Megawatts)
(3) Project implementation period (months}
(4) Project features (proposed) (a} No. of days of plant operation:
(b) No. of boilers to be installed:
(c) Capacity of the Boiler:
(d) Boiler Outlet Steam Parameters:
(e) Fuels used for the boiler:
(f) No. of turbogenerators to be installed:
(g) Turbogenerator type and capacity:
(h) Gross Power Generation (Megawatts): J
(i) Power Plant in-house power consumption · (Megawatts): J
(j) Power supr.lied to ~~gilEJlla!ll_~1.e_gaw~!tsJ _ _ ______ _ --l-(duling off seaSOi1-and-sea.Son)
(k) l\tarketable power surplus (Megawatts):
(1) Transmission losses (%): {m) Annual energy sales (Kilowatt hour) :
(n) Cost ofbagaose al site: (P..s.j Metric tonne)
(o) Cost of power (Rs.jMegawatts) (D) Plant load factor (c!) Bagasse requirement for the boiler (Metric Tonnes):
(r) k'lnual requirement of bagasse (Metric Tonnes):
(s) Quantity of bagasse generated by sugar factory (Metric tormes/ year) B. Financial Details as appraised (Rs. lakh)
(1) Capital cost of project
(2) Sources of financing Equity:-
(b) Promoters' contribution Debt:-
(c) Sugar Development Fund loan
(d) Term Joan , Total Investment C. Project viability details
(8) Average return on Equity-'(%)
(9) Average interest rate on debt''(%)
(10) Weighted average cost of capital*(%)
(ll) Average Debt Service Coverage Ratio
(12) Pay back period (years)
(13) Net Present Value '(Rs. 'ooo)
(14) Internal Rate of Return (lRR) (%) 1 · 1 1· h d. · I *S1mp e ten year average o t e correspon mg entry m \ 55 Annexure to Fonn VIII. · VIII Whether the project has been approved by_an .. alf-India -1-----·-----·---- __ L ~n~~c;~~ ~~t~~~~o;:~~~~~1~~J~~_e-~C2af~:!~::~!~s~~~1--------~·· ,..,----- --- ------------ --- --J 1 ' paltern of funding of the scheme): ' I (c) If so, enclose a certified true copy of the "Letter of . I 1 Intent" issued by the Lead Institution . I (d) List out any condition(s) of material nature stipulated by the Lead Institution including rate of' , 1 interest, repayment period and security. j ~-~j_:;;~~~:~~~~;h~~J~~~~JAg~~~~~~ ~~-~~~;g~:- ---=~-=-==~=-.-- --~ Place: Date: Signature:----~-- Name: Designation: ______ _ Name & Address of the sugar undertaking (Occupier) ANNUX1URE 1!'0 FOll:UVi!-VUI lPROJlECT lP'ROJFl!TARllUTI! AND CASH !<-LOW STATEMENT (for the year of investment and subsequent 10 years of operation) Year ended 200 200 200 (Rs. in lakhs) Capacity Utilization (%) !. lP'ROFITABILITY OF 1HIE JP'ROJIECT
(1) Sales net of duties/ taxes
(2) Less: Direct Production Expenses
(3) Gross Profit (1-2) •
(4) Less:
(a) Manufacturing Expenses
(b) Administrative Expenses
(c) Selling & Distribution Expenses Total of (4) (S} Operating Profit before depreciation and interest (3-4)
(6) Add: Otherincome
(7) Net Profit before depreciation and interest (5+6)
(8) Less:
(a) Depreciation
(b) Interest Total of (8)
(9) Net Profit before taxation (7-8)
(10) Less: Provision for taxation
(11) Net Profit after tax ( 9-10)
(12) Equity as at the end of
(13) Return on equity [(n)/(12}"'100]
(14) Debt as at the end of
(15) Average interest rate on debt [(8b)/(14)*wo]
(16) Weighted average cost of capital [{(12}'(13) + (14)*(15)}/{(12)+(14}}] II. CASH: FLOWS
1. Net Profit after tax (see item I (n))
2. Add: Items debited to profit & loss account
(e) Depreciation
(f) Interest expenses
(g) Income tax provisions
(h) Other non-cash debits Total of (2) 57 ::58'============:·=.=rn:=!.E'OG='A='Z ·=E=:Tc'TE:=c=O:=:f' 11'\DIA · E) .. l"P-.P.ORDINARY 3· Totai (1+2) 4· Less: Items credited to profit & loss account
(a) Interest income
(b) Dividend income
(c) Other credits (to specify) Total of (4) 5· Total (3-4)
6. Less:
(a) Interest paid
(b) Income ta:< paid
(c) Dividends paid Total of (6) 7· Total (5-6)
8. Add: Revenue Receipts actually received
(a) Interest
(b) Dividend
(c) Other receipts (to specify) Total of (8) 9· Total (7+8)
10. Working Capital Changes
(i) Add:
(a) Decrease in sundry debtors/ receivables
(b) Decrease in inventories {c) Increase in sundry creditors/ payables Total of (i) ·
(ii) Less:
(a) Increase in sundrv debtors/ receivables
(b) Increase in inventories
(c) Decrease in sunchycreditors/ payables Total of (ii) Total ofi.tem 10 [(i)- (ii)J u. Cash flow from operations (9+10)
12.. Capital Items
(i) Add:
(a) Issue of share Capital
(b) Issue of Debentures
(c) Long tenn loans
(d) Sale of Assets Total of (i)
(ii) Less:
(a) Investment in Projeci
(b) Redemption of Capital
(c) Redemption of Debentures
(d) Repayment ofiong-term loans Total of (ii) Total of item 12 [(i) - (ii)]
13. Total net cash flow (11~12)". IF: No. 1-14/2002-SDFJ S. B. B!SWAS, Director 59 Note:-The principa1 rules were published in the GazCttc or India 1.·ir.:: number G.S.R. 752(E) dmcd 28-09-1983 and subsequently amended vide :-
(i) GSR 817 (E) dated 20.12.1984;
(ii) GSR 838 (E) dated 14.11-1985;
(iii) GSR 551 (E) dated o6.05.1988;
(iv). GSR 235 (E) dated 24.04.1991;
(v) GSR 441 (E) dated 28.04.1992;
(vi) GSR 435 (E) dated o6.o5.1994;
(vii) GSR 27 (E) dated 12.01.1996;
(viii) GSR 656 (E) dated 21.H.1997;
(ix) GSR 91 {E) dated 12.02.2001;
(x) GSR 886 (E) dated o6.12.2001;
(xi) GSR 443 (E) dated 21.06.2002; and
(xii) GSR 584 (E) dated 1g.o8.2002. -----------~---------------·- --- l'nmcd by !h~ i'o.!anag.;r, (jvn. uf fndiil !'r..:s~. i~ing U.o.1J .. \lay.rpun. Xl·11· Ddh1-! !0064 ;111d Publil'h..:d by lh~ Cuntro~kr of Puhli..:<lti•.'n~. D.:l!u-1!005-l