IDLS Scheme – Approved Cases
No.CLE / ILDP /IDLS / 2013-14
13th Dec 2013
Sub: IDLS Scheme – Approved Cases – Beneficiary Units to approach SIDBI Branch for Documentations & Lodging of claims
This is regarding the Integrated Development of Leather Sector (IDLS) Scheme being implemented by the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, Government of India to assist the manufacturing units for technology up gradation, modernization, capacity creation in all segments of the leather industry. Once the Sanction Letter is issued by the DIPP approving the investment Grant, the concerned beneficiary unit has to immediately approach the SIDBI and carryout the formalities with the Bank so that bank can start the process of disbursement of sanctioned grant.
In order to review the disbursement status of the IDLS Scheme, a meeting was held on 13.12.2013 under the chairmanship of Shri Atul Chaturvedi, IAS, Joint Secretary, DIPP in which CLE and other stakeholder agencies participated. The Government of India intends to expedite the utilization of the fund allocated for the IDLS Scheme, and has therefore directed the Council to immediately inform the beneficiary units to approach the SIDBI Branch to stake the claim for the approved grants. The following are the decisions taken in the meeting:
As per the current provisions, the approved cases involving grant of more than Rs.25 Lakhs, the disbursement for the same has to take place in 4 equal annual installments. In this regard, as a one-time special case with a view the utilize the sanctioned allocation, DIPP has decided to waive the gap of one year from the previous release of installment. For example, in case the unit has availed the installment during the financial year 2012-13 (ending 31st March 2013), they can immediately approach the SIDBI to claim the next installment without waiting for next installment due date. This is a onetime waiver of the condition, and the unit should approach SIDBI branch within 19th Dec 2013 to avail of this relaxation.
If you have received the Sanction Letter from DIPP from Sept 2012 onwards to till date, and your case is not yet lodged by the SIDBI Branch, you are requested to immediately approach SIDBI Branch, and complete the required documentations so that the SIDBI can lodge the claim within 19th Dec 2013.
The Council would therefore request the recipients of the Sanction Letters from the Government of India under IDLS Scheme, to immediately approach the SIDBI Branch as per the above details.You may intimate the Council of your claim details and the current status, as per Format enclosed. Your feedback update may be sent by Email to CLE Regional Offices concerned, and also to CLE HO firstname.lastname@example.org, on or before 19th Dec 2013.
Members are once again requested to please note the above and comply with the formalities with SIDBI, so that the claim can be lodged by the SIDBI and sanctioned funds can be disbursed to your unit.
With warm regards,
Rajendra K Jalan
Council for Leather Exports