Vidhi Codex

Bare Act

The "The Madhya Pradesh state Aid to Industries Act, 1958

General195833 sections

The Madhya Pradesh State Aid to Industries Act, 1958, provides a legal framework for the State Government to support industrial development through financial and technical assistance. It classifies industries into large, medium, and small-scale categories to determine eligibility for various forms of aid, including loans, subsidies, guarantees, and the provision of land or expert services. The Act establishes a State Aid to Industries Committee to advise the government on these grants. It mandates strict accountability, requiring aided industries to maintain transparent accounts and submit to government inspections, while empowering the state to recover funds as land revenue if conditions are violated.

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  1. 1. Short title, extent and commencement
  2. 2. Definitions
  3. 3. Classification of industries
  4. 4. Constitution 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 for State aid
  15. 15. Provisions regulating the giving of State aid
  16. 16. Loan how secured
  17. 17. Inspection and return
  18. 18. Power of State Government to so adjust security during currency of loans
  19. 19. Power of State Government to withdraw State aid
  20. 20. Repayment of loans
  21. 21. Guaranteeing of cash credits etc., with banks
  22. 22. Guarantee of a minimum return on capital
  23. 23. Subsidies
  24. 24. Disposal of profits of when conditions of State aid not fulfilled
  25. 25. Government control of industry aided
  26. 26. Penalty for breach
  27. 27. Recovery of moneys 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 Sate aid to be given save in accordance with the provisions of Act
  32. 32. Repeal and Savings
  33. 31.A. Grant of State Aid in order cases

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