Kerala Stressed MSMEs Revival & Rehabilitation Scheme
At a Glance
Scheme Category
Business & Entrepreneurship,Setting up / start-up / entrepreneurship,Loan
Target Beneficiaries
Business Entity,Industries
Brief Description
The “Kerala Stressed MSMEs Revival & Rehabilitation Scheme” intends to provide financial and other handholding support to the MSMEs which show signs of stress and to convert their non-productive assets into productive assets.
Benefit Type
Cash
Eligibility Criteria
1. A MSME unit/enterprise which satisfies the following conditions is eligible for the scheme: - MSME in the manufacturing category and set up in Kerala state. - Does not come under the Negative List. - Must have filed EM Part-II/UAM. - Must come under the definition of Sick Unit and - Must be Potentially Viable to be revived or restructured based on a definite Revival Project Report. 2. For the purpose of this scheme, an industrial unit eligible for the assistance shall be an independent legal entity. > Obligation of the applicant unit: 1. The applicant unit shall provide all required details in time and declare such information as to be true. 2. The applicant unit shall provide clarification if any sought by vyavasaya mithra. 3. The applicant unit shall utilize the amount received as assistance only in the manner agreed upon. 4. The applicant units thus revived shall restart within one month of the date of receipt of financial assistance and shall be under obligation to function continuously for a further period of 5 years. Otherwise, the assistance given shall be recovered under the Kerala Revenue Recovery Act. 5. Units becoming sick on account of willful mismanagement, willful default, unauthorized diversion of funds, dispute among Partners/Promoters, etc. should not be considered for rehabilitation.
Application Mode
Online
Application Process
Step 01: Application can be submitted online through the Official website of the Directorate of Industries & Commerce, Government of Kerala. The applicant needs to visit the <nis:link nis:type=webUrl nis:id=slugId nis:text="official website" nis:value=https://schemes.industry.kerala.gov.in/public/index.php/schemes nis:enabled=true/>. Step 02: The applicant may select the scheme “Kerala Stressed MSMEs Revival & Rehabilitation Scheme” from the available Online Services listed on the home page and click on the “Apply Now” option. Clicking “Apply Now” redirects to the Login Page, if the user is “new user”, uses the “Registration” option and if already registered use the ‘Login’ option. Step 03: A new user can register by filling in his/her details and after successful registration, the user can login. Step 04: After successful login, the applicant need to select “New Application” and click on ‘Proceed’ Option. Step 05: Fill out the application form completely and submit.
Required Documents
- Copy of EM Part-II/UAM Copy of Revival Project Report A copy of the sanction letter for Additional Loan, if any Proof of new investment, if any Copy of Photo Identity Proof of the Promoter/Promoters Self-attested copy of, partnership deed/Memorandum and Articles of Association/Bylaws in case of units other than proprietary. Self-attested copy of registration certificate from Registrar of Company/Firm/Society of units other than proprietary. Self-attested copy of resolution towards applying for this assistance in case of units other than proprietary. Copy of balance sheet of last 2 years. Details in support of benefits applied for. Any other document as demanded by the recommending/sanctioning authority.
FAQs
What is the aim of the scheme?
The aim of the scheme is to revive micro, small and medium manufacturing enterprises in Kerala that suffer due to stressed assets.
What are the objectives of the scheme?
The objective of the scheme is to provide financial and other handholding support to the MSMEs which show signs of stress and to convert their non-productive assets into productive assets.
Which is the implementing department of this scheme?
Director of Industries & Commerce, Government of Kerala
Which types of MSME Units are eligible to get the benefits of the scheme?
An MSME unit/enterprise which satisfies the following conditions is eligible for the scheme: (a) MSME in the manufacturing category and set up in Kerala state. (b) Does not come under the Negative List. (c) Must have filed EM Part-II/UAM. (d) Must come under the definition of Sick Unit and (e) Must be Potentially Viable to be revived or restructured based on a definite Revival Project Report.
Is it necessary to be an independent legal entity for an MSME unit?
Yes, for the purpose of this scheme, an industrial unit eligible for the assistance shall be an independent legal entity
What is the benefit of the scheme?
Under the scheme, the financial assistance of ₹5 lakhs will be given to an applicant unit.
How many times can an applicant unit avail the financial assistance under the scheme?
The applicant unit can availed of one-time assistance only.
What are activities & services included in the Negative List?
Photo Studios and Colour Processing Centres, Breweries and Distilleries of all types, Sawmills, Soap Grade Sodium Silicate, Asbestos processing except for units in respect of which the quantum of asbestos used in the production process is less than 25% and environmental and occupational health hazards have been taken care of to the satisfaction of authorities concerned, Metal Crushers including Granite Manufacturing units, All types of Steel Re-rolling mills and units manufacturing iron ingots, Calcium Carbide, Cement manufacturing except units manufacturing cement from fly ash, Potassium Chlorate, Cashew industrial units, Power-intensive units based on electro thermal/electrochemical Processor units where total power requirement exceeds 5000 KVA of contract load or where the cost of power is more than 33% of the cost of production of the items manufactured except where the units generate their power requirement in excess of 5000 KVA of contract load by own captive power.
Which type of manufacturing units cannot apply under the scheme?
The industries included in Negative list and notified as such from time to time, Government controlled industries, public sector undertakings, units started by Government controlled agencies, units financed by KVIC/KVIB etc. shall not eligible for any assistance under the scheme.
How can an applicant unit apply under the scheme?
Application can be submitted online through the Official website of the Directorate of Industries & Commerce, Government of Kerala. https://schemes.industry.kerala.gov.in/public/index.php/schemes