GOVERNMENT OF INDIA
MINISTRY OF TEXTILES
OFFICE OF THE TEXTILE COMMISSIONER
POST BAG NO. 11500, MUMBAI - 400 020.
Fax: 022 – 200 46 93, E-mail: texcom@mah.nic.in
No. 28(19)/2001/MS/  148                                                                  Date : 14/05/2002

Circular No. 1
(2002-2003 Series)

Sub: Technology Upgradation Fund Scheme (TUFS).

1. Co-option of additional banks/financial institutions by the Nodal Agencies

Industrial Finance Corporation of India(IFCI),the nodal agency(NA) for jute industry under Technology Upgradation Fund Scheme,vide letters dated 26th March 2002 and 27th March 2002 has co-opted the following finantial institutions for jute industry under the TUF Scheme.

a) Tamilnad Merchantile Bank Ltd.
b) Haryana State Industrial Development Corporation Ltd.

2. Coverage of weak but potentially viable units under TUIFS
 
Decision taken by TAMC and approved by IMSC which was circulated vide circular no. 7(2001-2002 series) dated 20th March,2002 at  Sr. No. 3 (vii) regarding coverage of weak but potentially viable units under TUFS is applicale to jute industry also. Therefore,aforesaid para may be read as :

3 vii) Coverage of weak but potentially viable textile & jute units under TUFS.

Relaxation in norms for cash profit,promoter's margin ,debt equity ratio and revaluation of assets could be considered by finantial Institutions and Banks while preparing restructuring proposals for textile and jute units.

This may please be brought to the notice of all concerned.

(Smt Shashi Singh)
(Director)

To: -

1. Secretaries (Textiles) of all states

2. All PLIs of IDBI and SIDBI

3. To all Major Textile Industry Associations/ Trade Associations/All India Industry Associations/Chambers of Commerce & Industry.

4. Officer Incharge of all Regional office of the Textile Commissioner,

5. Secretary, Textiles Committee, Mumbai

6. Officer Incharge of all Powerloom Service Centers,

7. The Directors of all TRAs

8. Executive Directors of all EPCs

9. Development Commissioner (Handlooms)

10. Development Commissioner (Handicrafts)

11. Jute Commissioner

12. Member-Secretary, Central Silk Board

13. Director General , NIFT

14. Prominent News Agencies.

With a request to bring the above message to the notice of all concerned, by publishing / covering the above amendments/modifications in the TUFS, in the news papers/ periodicals / magazines etc.

 Copy for information to:

1. All members of IMSC & TAMC.

2. Shri Sudhir Bhargava, Joint Secretary, Ministry of Textiles, New Delhi.

3. Shri P. K. Gera, Director, Ministry of Textiles, New Delhi.

(Smt. Shashi Singh)
Director