The financial grant may be given in lump sum or instalments.
Normally grants be given in instalments except when the grant sanctioning authority consider that it will be in the interest of better utilization by granting it, in lump sum or its proper utilization will be better ensured by granting it in lump sum. The Managing Director will have the discretion to determine the number of instalments, depending upon the circumstances of each case. when the financial grant is being released in instalments, the utilization reports will be obtained from an official of the Corporation specified by Ch airm an/M anaging Director. lf it is found that the financial grant has not been utilized in accordance with in terms of the grants advanced or it has been mis-utilized, the chairman/Ma naging Director will have the power of stopping payment of further instalments of the financial grant.