Sarkari Yojana
Financial Assistance for Purchase of Existing Assets
About Financial Assistance for Purchase of Existing Assets
Introduced by the Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC) under the Department of Industries & Commerce, Puducherry, the “Financial Assistance for Purchase of Existing Assets” scheme backs units that have operated for at least 2 years with a sound track record. Funding helps them acquire existing land, building and machinery that still has the prescribed residual life. Only online applications are accepted.
Scheme Overview
State Government
Business Entity
Scheme Details
Eligibility Requirements
To qualify for Financial Assistance for Purchase of Existing Assets, applicants must satisfy the following conditions:
Units qualify only if they have been functioning…
Units qualify only if they have been functioning for no less than 2 years and have a good track record.
Benefits Provided
Financial Assistance for Purchase of Existing Assets provides the following benefits to eligible applicants:
Loan Limit:
At least ₹5,00,000/-, going up to the ceiling that applies to term loans. Interest Rate: Charged at 1% above the prevailing rate. Repayment: Spread over 5 years, which includes a 1-year moratorium.
Documents Required
Applicants should keep the following documents ready before starting the application:
At the Time of Filing Loan Application
At the Time of Filing Loan Application
Identity and Address Proofs
Identity and Address Proofs
◦ Photocopies of the Permanent Account Number (PAN)…
◦ Photocopies of the Permanent Account Number (PAN) Card, Voter Identity Card, Ration Card and Aadhaar Card.
◦ Bio-data for every promoter, completed in full…
◦ Bio-data for every promoter, completed in full in the prescribed format.
◦ A document proving residence
◦ A document proving residence.
◦ Community Certificate (required from Scheduled Caste /…
◦ Community Certificate (required from Scheduled Caste / Scheduled Tribe applicants).
◦ Nativity / Residence Certificate
◦ Nativity / Residence Certificate.
Entity Registration and Constitution Documents
Entity Registration and Constitution Documents
◦ Copy of the acknowledgement of the Micro,…
◦ Copy of the acknowledgement of the Micro, Small and Medium Enterprises (MSME) Registration Certificate issued by the Industries Department.
◦ For a partnership concern, the Partnership Deed…
◦ For a partnership concern, the Partnership Deed and the Registrar of Firms acknowledgement (copies).
◦ For a Private Limited Company, its Memorandum…
◦ For a Private Limited Company, its Memorandum and Articles of Association.
Property and Technical Documents
Property and Technical Documents
◦ Sale Deed copy for the work premises,…
◦ Sale Deed copy for the work premises, where the applicant owns them.
◦ Lease Deed copy for the work premises…
◦ Lease Deed copy for the work premises executed on ₹10.00 stamp paper (loans up to ₹25,00,000/-).
◦ Registered Lease Deed copy for the work…
◦ Registered Lease Deed copy for the work premises for no less than 8 years, or a consent letter undertaking to produce one (loans above ₹25,00,000/-).
◦ Two copies of the site and factory…
◦ Two copies of the site and factory building plan showing machinery layout, with the civil estimate.
◦ A Detailed Project Report on the project…
◦ A Detailed Project Report on the project (loans above ₹25,00,000/-).
◦ A description of the manufacturing process with…
◦ A description of the manufacturing process with a flow chart.
◦ Information on any effluent generated and the…
◦ Information on any effluent generated and the proposed arrangements for treating and disposing of it.
Financial Documents
Financial Documents
◦ Bank Passbook copy
◦ Bank Passbook copy.
◦ A profitability statement showing monthly sales, income…
◦ A profitability statement showing monthly sales, income and expenditure (loans up to ₹10,00,000/-).
◦ Balance Sheet and Profit & Loss Account…
◦ Balance Sheet and Profit & Loss Account for the previous 3 years along with banker details for interested concerns/existing units (loans above ₹10,00,000/-).
Valuation and Quotation Documents
Valuation and Quotation Documents
◦ The chosen supplier's quotation for all proposed…
◦ The chosen supplier's quotation for all proposed machinery and equipment, with detailed specifications and catalogue (original to be shown).
◦ Two competing quotations from standard suppliers for…
◦ Two competing quotations from standard suppliers for all proposed machinery and equipment (originals to be shown).
◦ A comparative statement of machinery explaining why…
◦ A comparative statement of machinery explaining why the supplier was chosen (loans above ₹10,00,000/-).
◦ The selected machinery supplier's client list with…
◦ The selected machinery supplier's client list with full postal addresses, plus proof that the supplier is approved by other financial institutions/banks.
Marketing and Sales Documents
Marketing and Sales Documents
◦ Evidence of the end product's sale price…
◦ Evidence of the end product's sale price and quotations for the principal raw materials.
◦ Tie-up letters for marketing the product
◦ Tie-up letters for marketing the product.
◦ Demand-supply statistics for the product backed by…
◦ Demand-supply statistics for the product backed by proof, along with details of existing competition and major consumers.
Other Application Documents
Other Application Documents
◦ A consent letter to provide collateral security…
◦ A consent letter to provide collateral security to the extent required by the Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC).
◦ A consent letter from the bank for…
◦ A consent letter from the bank for sanctioning a working capital loan (loans above ₹10,00,000/-).
◦ Where a consultant is engaged, their track…
◦ Where a consultant is engaged, their track record, name, address of concerns served and type of consultancy provided.
During Processing Time or After Sanction of Loan
During Processing Time or After Sanction of Loan
Legal and Property Titles
Legal and Property Titles
◦ The Original Title Deed and Antecedent Title…
◦ The Original Title Deed and Antecedent Title Deeds.
◦ An Encumbrance Certificate covering 30 years
◦ An Encumbrance Certificate covering 30 years.
◦ A Valuation Certificate
◦ A Valuation Certificate.
◦ A copy of the Field Measurement Book…
◦ A copy of the Field Measurement Book (FMB).
◦ A copy of the Patta
◦ A copy of the Patta.
◦ A legal opinion report on the factory…
◦ A legal opinion report on the factory site and the collateral security property.
◦ The Chitta Nagal for the property
◦ The Chitta Nagal for the property.
◦ A copy of the settlement register for…
◦ A copy of the settlement register for the property.
◦ An Adangal certificate, where the properties are…
◦ An Adangal certificate, where the properties are agricultural lands.
Statutory Clearances and Licenses
Statutory Clearances and Licenses
◦ Approval of the Inspector of Factories for…
◦ Approval of the Inspector of Factories for the factory building and machinery layout.
◦ Permission from the Municipality / Panchayat
◦ Permission from the Municipality / Panchayat.
◦ Permission from the Puducherry Planning Authority (PPA)
◦ Permission from the Puducherry Planning Authority (PPA).
◦ A Power feasibility Certificate issued by the…
◦ A Power feasibility Certificate issued by the Electricity Department, Puducherry.
◦ Copy of the No Objection Certificate (NOC)…
◦ Copy of the No Objection Certificate (NOC) / Clearance, from the pollution standpoint, issued by the District Industries Centre (DIC) / Department of Science, Technology & Environment.
How to Apply
Online Application
Applicants can apply for Financial Assistance for Purchase of Existing Assets through the online application process outlined below.
User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf How to Apply: https://pipdic.in/how_to_apply Applicant Login: https://pipdic.in/customer_login Application Link: https://pipdic.in/forms Grievance Form: https://pipdic.in/grievance_form Registration Process
Registration and Profile Creation Open the PIPDIC website
Registration and Profile Creation Open the PIPDIC website. and select "Login". From the "Login" menu pick "New customer", fill in a username, email-id, password and captcha, and select "Register".
Email Verification and Login - Log in using…
Email Verification and Login
Log in using your registered email-id, to which an OTP is dispatched.
Type that OTP and select "Login" to get into the customer dashboard.
Profile Update - After logging in, complete your…
Profile Update
After logging in, complete your profile through the "Edit Profile" option found at the dashboard's top right corner.
Fill in all the required information and select "Submit".
Application Process (Loan Application)
Accessing the Loan Application Form - On the…
Accessing the Loan Application Form
On the customer dashboard, choose the "Applications" tab to start the loan application.
Reviewing Checklist and Accepting Terms - A pop-up…
Reviewing Checklist and Accepting Terms
A pop-up appears listing the General Terms and Conditions, interest rate structure, investigation fees and collateral security norms.
Study this list, check that you have assembled all the documents it asks for, and choose "I Agree" to move on to the form.
Filling the Loan Application Form Complete the form,…
Filling the Loan Application Form Complete the form, which runs over several steps, filling every mandatory field accurately.
Declaration and Submission Go through the detailed declaration…
Declaration and Submission Go through the detailed declaration in the form, covering the truthfulness of the information, the absence of unauthorized borrowing arrangements and consent to verification, then tick "I agree to terms" and choose the final "Submit" button of the main form.
Promoter Bio-Data and Document Upload Next, the portal…
Promoter Bio-Data and Document Upload Next, the portal asks for the Biodata of the Promoter, Partner, or Director, generally across several screens. Attach the KYC and supporting documents through the "Choose File" button provided against each field.
Application Fees Payment - With the application and…
Application Fees Payment
With the application and bio-data fully filed, settle the applicable application fee.
If online payment is chosen, the portal opens a payment summary page on its own, where you confirm your details and pay.
Receiving and Saving Payment Receipt - On successful…
Receiving and Saving Payment Receipt
On successful payment you land back on the PIPDIC website, which issues a receipt for the application fee.
Keep this receipt by printing it or saving it as a PDF on your computer.
Application Status Tracking and Support
Application progress (initially marked something like 'UNDER REVIEW') can be checked via the "View My application" link on the dashboard by picking the relevant loan application from the drop-down menu.
Application Fees
The application fee is ₹100/- for loans up to ₹25,00,000/-.
The application fee is ₹200/- for loans above ₹25,00,000/-.
Grievance Redressal / Help & Support
Postal contact: the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited, No.60, Romain Rolland Street, Puducherry 605001.
Office telephone: 0413-2334361.
Email: info@pipdic.com.
Mobile of the General Manager (Administration): 9894653835.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.