Vidhi Codex

The Chhattisgarh State Aid to Industries Act, 1958

The Chhattisgarh State Aid to Industries Act, 1958

General195833 sections

This statute governs the provision of financial assistance and official support by the state government to industrial enterprises, including small, medium, and large-scale businesses as well as cooperative societies. It establishes a dedicated committee to evaluate applications and advise on granting state aid through loans, bank guarantees, land grants, subsidies, share underwriting, and expert assistance. The law matters because it encourages economic development, regional industrialization, and employment by making capital and resources available to new or expanding ventures. It also sets conditions, financial safeguards, inspection rights, and recovery mechanisms to ensure government funds are properly utilized.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions.
  3. 3. Classification of industries.
  4. 4. Consitution of State Aid to Industries Committee
  5. 5. Term of office
  6. 6. Cessation of membership
  7. 7. Casual vacancies
  8. 8. Members of Committee not to communicate information
  9. 9. Forms of State aid
  10. 10. Industries to which several forms of State aid may be given
  11. 11. Formation of a company
  12. 12. Form and contents of application for State aid
  13. 13. Member of the Committee not to take part in the proceeding in which he is pecuniarily interested
  14. 14. Conditions on an industry to which state aid is granted
  15. 15. Limitations of amount of loans
  16. 16. Loan how secured
  17. 17. Inspection and returns
  18. 18. Power of State Government to so adjust security during currency of loans
  19. 19. Power of State Government to stop State aid etc.
  20. 20. Repayment of loans
  21. 21. Guaranteeing of cash credits, etc., with banks
  22. 22. Guarantee of minimum return on capital
  23. 23. Subsidies
  24. 24. Disposal of profits when conditions of State aid not fulfilled
  25. 25. Government control of industry aided
  26. 26. Penalty for breach
  27. 27. Recovery of money due under this Chapter
  28. 28. Special provision for small scale industries
  29. 29. Finality of decision of State Government and bar of suits and proceedings in civil and Criminal Courts
  30. 30. Power to make rules
  31. 31. No State aid to be given save in accordance with the provisions of Act.
  32. 31-A. Grant of State Aid in other cases
  33. 32. Repeal

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