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Credit Rating Scheme

HARYANA GOVERNMENT

INDUSTRIES AND COMMERCE DEPARTMENT

NOTIFICATION

 

The  18th April, 2016

No. 49/43/2015-4IB1 In pursuance to the under Chapter 12 of Enterprises Promotion Policy-2015 notified vide No. 49/43/2015-4IB1 dated 14th August, 2015, the Governor of Haryana is pleased to notify the “Credit Rating Scheme” for Micro and Small enterprises with the provisions given hereunder:

 

1.   Objective:-

The Micro and Small Enterprises occupies an important position in any developing economy. Fast changing global economic scenario has thrown up many opportunities and challenges to the Micro and Small sector in India. While, on the one hand, many opportunities have opened up for the Micro and Small sector to enhance productivity and look for new markets in other countries, it has also put an obligation on them to upgrade their competence in terms of technology, management & financial strength to successfully meet the global competition. As a step in this direction, a need was felt for introducing a Rating Scheme for the Micro and Small sector. It is expected that the Rating Scheme would encourage Micro and Small sector in improving its contribution to the economy by way of increasing their productivity, since a good rating would enhance their acceptability in the market and also make access to credit quicker and cheaper and thus help in economizing the cost of credit. A provision of Credit Rating Scheme for Micro and Small enterprises has been made in the Haryana Enterprises Policy 2015.

 

2.   Quantum of Assistance

Reimbursement of 75% of the expenses incurred subject to a maximum of Rs. 2 lakh for Credit Rating by Micro and Small Enterprises carried out by the Government agency/ SIDBI and NSIC/ Govt. accredited credit rating agencies. This would be in addition to the support being provided by Government of India.

 

3.    Commencement and Applicability

The Scheme shall commence with effect from 15.8.2015 for providing assistance for credit rating and shall remain in operation for a period of 5 years. The units which have obtained credit rating certification after 14/08/2015 and before 14/08/2020 shall be eligible under the scheme.

 

4.    Eligibility Criteria

All Micro and Small Units existing anywhere in the state, which have filed EM Part-II/ Udyog Aadhar Memorandum with respective District Industries Centre, shall be eligible under the scheme. The industrial units must also comply with the following conditions: 

i)        The item of manufacture of the unit should not fall in the restrictive list as notified by the State Government from time to time.

ii)        The unit should have obtained NOC/CLU from competent authority, if applicable.

iii)       The unit should be in commercial production.

iv)      The unit should be in regular production at the time of disbursement and the assistance shall not be released to the closed unit.

 

5.   Procedure

  1. Application on prescribed Form (Annexure-I) for the grant of Credit Rating Assistance along with listed documents would be submitted to the Director of Industries & Commerce, on the web portal of the department.
  2. The application would be processed and examined. The deficiencies, if any, would be communicated to the applicant on-line within a period of 10 working days and the applicant would be given a time period of eight weeks to rectify the deficiencies so pointed out.
  3. In case the deficiencies are not removed within prescribed period, the claim may be filed by the Competent Authority, under intimation to the party through e-mail. The enterprise shall not be required to submit any additional document other than specified under Annexure-I without approval of competent authority.
  4. The claim application so filed may be reopened with the orders of Principal Secretary Industries & Commerce provided request for the same is received within a period of 30 days from the date of rejection of the claim by the designated Competent Authority.

 

6.   Competent Authority for Sanction:

Director, Industries & Commerce shall be competent authority for sanction of Credit Rating Assistance within 30 days from the date of completion of the claim.

 

7.   Time Limit

An enterprise shall forfeit its entitlement for the reimbursement of the expenses incurred towards the credit rating, if it does not submit its claim, complete in all respects within three months from the date of the certification of Credit rating.

 

8.   Interpretation/ Relaxation

Principal Secretary Industries & Commerce, Haryana shall be competent to make interpretation/relaxation of provisions of this scheme.

 

9.   Appeal

Appeal against orders passed by the Competent Authority shall lie with the Principal Secretary, Industries & Commerce, Haryana within a period of 30 days from the date of communication of orders appealed against and orders passed by the Principal Secretary shall be final.

 

10.Penal Action

In case, it is found at any stage that the applicant has claimed the assistance on the basis of wrong facts, the applicant shall besides refunding assistance with compound rate of interest @ 12% per annum and facing legal action, will be debarred from grant of any incentives/assistance from the State Government.

 

 

DEVENDER SINGH

Principal Secretary to Government, Haryana

Industries & Commerce Department.

 

 

 

Annexure - I

 

Application format for claiming Reimbursement of the expenses incurred towards the credit rating.

 

Sr. No.

Particulars

Details

1

Name   of applicant (Authorized person of the unit)

 

2

Name  &  Address  of  the  unit  with telephone no. and e-mail

 

3

EM Part-II/UAM no. and date

 

4

Constitution of The Unit [Proprietary, Partnership, Pvt. Ltd., Public  Ltd.,  LLP  (Limited  Liability Partnership)]

 

5

Item of manufacture

 

6

Category of unit (Micro/Small)

 

7

Name  and  address  of  certification agency

 

8

Details  of  expenditure  incurred  in acquiring credit rating  certificate (excluding hotel & travel expenses & surveillance charges) Furnish a CA certificate of expenditure (in original) giving  the  details  (as  per the prescribed format)

 

9

Details and amount of reimbursement/grant/subsidy/ already   received,   if   any,   from Government of India

 

10

Amount  of  credit  rating  assistance claimed (in Rs.)

 

 

11.      Self attested copies of documents to be attached with the application:

  1. Acknowledgement of Entrepreneur Memorandum (EM) part-II.
  2. Certificate of Incorporation/ Partnership deed.
  3. Board resolution/ Power of attorney
  4. Change of Land Use (CLU)/ NOC from competent authority, if applicable.
  5. Undertaking/Declaration on non-judicial stamp paper(Annexure-II)
  6. CA Certificate (Annexure-III).
  7. Audited balance sheet of the unit of last year (if Applicable).
  8. Copy of first sale bill.
  9. Copy of bills raised by certifying agency & proof of payment thereof.

 

 

Signature of the applicant

(with seal)

 

 

 

Annexure-II

Undertaking/Declaration (to be submitted on non-judicial stamp paper of Rs. 50/- (Min) duly sworn before a Notary Public (duly affixed with Notarial Stamp; and with Notary Seal & Notary Registration Number) or First Class Magistrate):

 

I,______________________ do hereby solemnly state that I am proprietor/ partner/ director/______________of M/s_________________________________ located____________which is engaged in the manufacture of________________ and I have been authorized to file the credit rating claim with the Department of Industries and Commerce, Haryana.

 

2. I do hereby affirm that the particulars given in the application are correct. In case any of the statement/ information furnished in the application/ documents are later found to be wrong or incorrect or misleading, I do hereby undertake to refund the entire amount of assistance of Rs._______________ (Rupee_______________________________________) granted to me alongwith compound rate of interest @12% per annum, besides facing legal action in case facts contained in this application are proved to be wrong at the time of verification/ checking or otherwise at any stage.

 

 

 Dated:                                                                       

Signature of the applicant

(with seal)

 

Annexure-III

 

Certificate from Chartered Accountant in respect of Proof of Expenditure incurred for acquiring Credit Rating Certificate and about investment in plant & machinery (on a CA letter head)

 

To whom it may concern

The document & records of M/s ....................................     with their regd. Office at ...............................and factory located at ………………………………… and EM no. …………………………… dated..............................)  in respect  of the expenditure incurred by acquiring Credit Rating certificate (or its equivalent) have been verified, and it is certified that the said industrial unit have incurred a total expenditure of Rs. ................... (Rupees .............................) towards Application fee, assessment/ audit fee, annual fee/ licence fee, training, calibration and technical consultancy etc. (excluding hotel & travel expenses & surveillance charges) in obtaining Credit Rating Certificate from the certification   agency  namely..........................................  as  per  the following details of payments.

Details of payments (Name of certification agency/ orgn.) amount paid (in rupees)

a)

b)

c)

 

AND

Verified from the books of accounts of above firm the total investment in plant and machinery (original purchase value) of the industrial unit as on date  .............................................  stands  as  Rs.  ............................................. (Rupees ............................................................................................)

 

 

Name & signature of the Chartered Accountant

with stamps & CA membership number

Dated ......................

 

Payment at (a), (b) & (c) above should be supported by copies of receipts of payments made to the certification agency duly attested. The payment receipts must indicate the purpose for which the payments have been made to the certification agency.