Revival and Rehabilitation Scheme for Defunct MSMEs and Cashew Processing Units
At a Glance
Scheme Category
Business & Entrepreneurship,Setting up / start-up / entrepreneurship,Loan
Target Beneficiaries
Business Entity,Industries
Brief Description
The scheme "Revival and Rehabilitation Scheme for Defunct MSMEs and Cashew Processing Units" envisages supporting defunct MSMEs in the manufacturing sector including cashew processing units through assistance in the form of capital grants and working capital incentives.
Benefit Type
Cash
Eligibility Criteria
1. All MSMEs in the manufacturing sector which are defunct for at least 6 months due to genuine issues including cashew processing enterprises that have the potential to be revived and rehabilitated, are eligible for assistance under the scheme. > Obligations of the Applicant Entrepreneurs: 1. The applicant shall provide all required details and declare such information as to be true. 1. The applicant shall provide clarifications or further details sought by the recommending/ sanctioning authority. 1. The applicant shall allow inspection or verification of any details mentioned in the application including plant and machinery and all other assets if so required by recommending/ sanctioning authority. 1. The applicant shall produce originals of any important documents if so required by the recommending/ sanctioning authority for verification. 1. The applicant shall execute the requisite legal agreement on Stamp paper worth ₹200 as and when the proposal is approved for implementation and furnishes the signed hard copy to General Manager, District Industries Centre. 1. The applicant shall utilize the amount received only in the manner agreed upon as per the revival project submitted. 1. The applicant shall operate the unit as stipulated in the agreement in which the quantum of support received, failing which the assistance shall be resumed by restoring the provisions of the Kerala Revenue Recovery Act.
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 “Revival and Rehabilitation Scheme for Defunct MSMEs and Cashew Processing Units” 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 a “new user”, use 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 needs to select “New Application” and click on ‘Proceed’ Option. Step 05: Fill out the application form completely and submit it.
Required Documents
- Copy of Identity proof of applicant
- Udyog Aadhar/Udyam Registration
- Revival Project Report
- Title deed of land/land tax receipt if applicable
- Ownership Certificate of the building if applicable
- Registered Lease deed or rent deed in such cases
- Invoice/bill/Proof of payment of Plant, machinery and electrification
- Valuation of Approved Civil Engineer/ chartered Engineer for civil construction
- Sanction order of Bank for Working Capital Loan if any
- Audited Balance Sheet for the year before being defunct
- Any other document as demanded by the recommending/sanctioning authority
FAQs
What are the objectives of the scheme?
The objective of the scheme is to envisage supporting defunct MSMEs in the manufacturing sector including cashew processing units through assistance in the form of capital grants and working capital incentives.
When did this scheme launch?
The Government of Kerala launched the scheme for defunct MSMEs including cashew processing units during year 2020-21.
Which is the implementing department of this scheme?
Director of Industries & Commerce, Government of Kerala
What does “Defunct MSME” means?
MSMEs which are non-operational for 6 months or more but can be revivable. In the case of units which become defunct due to the plastic ban and those who wish for diversification, the above time limit is not applicable.
What does “Defunct Cashew Processing Units” means?
The “Cashew Processing Units” which were defunct at least for six months/no matter whether they have received any Government assistance or bank loan within six months and are in the process of revival.
Which MSME units are eligible to get the benefits of the scheme?
All MSMEs in the manufacturing sector which are defunct for at least 6 months due to genuine issues including cashew processing enterprises that have the potential to be revived and rehabilitated, are eligible for assistance under the scheme.
What is the benefit of the scheme?
Under the scheme, financial assistance of ₹15 Lakhs will be given to an applicant unit.
How many times an MSME unit can avail of the assistance under the scheme?
Only once, an MSME unit can avail of assistance under the scheme.
How shall an applicant unit receive assistance?
The assistance under the scheme shall be released to the eligible entrepreneur by the bank on a pro-rata basis.
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