Capital Contribution Scheme (Goa)

Description
Launched in 2008, the scheme "Capital Contribution Scheme" by the Department of Industries, Government of Goa aims to support local entrepreneurs, promote industrial units that venture out and develop special products based on locally developed technology. Through this scheme, financial support is provided to local entrepreneurs, existing functional units, and units that utilize locally developed technology. The scheme is implemented by the Directorate of Industries, Trade and Commerce. The objectives of the scheme are as follows: 1. To give financial support to local entrepreneurs. 1. To support existing functional units to venture out and expand. 1. To support locally developed technology.

Benefits
• Maximum capital contribution up to ₹1,00,00,000/- per unit will be available, subject to the condition that contributions of promoters should be equal to or more than the capital contribution by the Government. However, this restriction/condition shall not be applicable to sick units.
• The capital contribution will be for 5 years as may be indicated in the sanctioned order with a guaranteed return of 6% or actual profit.
• Disbursement of Funds
• In case of approval, the capital contribution shall be released within a period of 60 days from the date of approval. The beneficiary must submit post-dated cheques for repayment and collateral security as per the scheme guidelines.

Eligibility Criteria
1. - Clusters/Units which are in operation for a period of at least 3 years shall be eligible except those covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008 or any such Scheme in force during the tenure of this Scheme.
2. - Partnership firms and private limited concerns shall be eligible under this Scheme except those covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008 or any Scheme in force during the tenure of this Scheme.
3. - Only those Units which are permanently registered with the Directorate of Industries, Trade and Commerce will be eligible.
4. _*Preference will be given to units in the small-scale sector, units involved in research and development, technically oriented units, and units run by women entrepreneurs/clusters._

Application Process
Step 1: The application should be submitted by the eligible units to the Directorate of Industries, Trade and Commerce in the specified format along with the required documents.
The Directorate of Industries, Trade and Commerce will scrutinize and conside…
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The application should be submitted by the eligible units to the Directorate of Industries, Trade and Commerce in the specified format along with the required documents.
The Directorate of Industries, Trade and Commerce will scrutinize and consider the application within 3 months from the date of receiving it. The decision will be conveyed within 4 months from the date of receipt of the application.

Required Documents
• Copy of Permanent Registration Certificate or necessary proof of registration with the Directorate of Industries, Trade and Commerce.
• Audited Statement of Accounts of the preceding 3 years.
• Project Report.
• Post-dated cheques for repayment as security towards the amount sanctioned (in case of approval).
• Collateral security equal to the quantum of contribution sought or equal to the amount the unit is eligible for (in case of approval).

Frequently Asked Questions
Q: What is the minimum operational period required for clusters/units to be eligible for financial support?
A: Clusters or units must have been in operation for at least 3 years to be eligible, except those covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008.

Q: Are partnership firms eligible to apply for financial assistance under this scheme?
A: Yes, partnership firms are eligible to apply, provided they are not covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008.

Q: Can private limited concerns apply for financial support under this scheme?
A: Private limited concerns are eligible to apply, except those covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008.

Q: What is the requirement for units regarding registration with the Directorate of Industries?
A: Only units that are permanently registered with the Directorate of Industries, Trade, and Commerce are eligible to apply for financial support.

Q: Is there any financial restriction for promoters contributing to the capital under this scheme?
A: Promoters must contribute an amount equal to or more than the capital contribution by the Government, except in the case of sick units.

Q: What is the maximum capital contribution available per unit under this scheme?
A: The maximum capital contribution available per unit is [?]1,00,00,000, subject to budgetary provisions and promoter contributions.

Q: How long is the capital contribution provided under this scheme?
A: The capital contribution is provided for a period of 5 years, with a guaranteed return of 6% or actual profit.

Q: What happens if a beneficiary fails to repay the capital contribution?
A: If a beneficiary fails to repay, the collateral security provided will be forfeited, and legal action may be taken as per relevant provisions.

Q: What type of security is required for the capital contribution under this scheme?
A: Beneficiaries must provide collateral security equal to the quantum of contribution sought or the amount the unit is eligible for.

Q: Are post-dated cheques required as part of the application process?
A: Yes, post-dated cheques for repayment must be submitted as security towards the amount sanctioned.

Q: What is the procedure for disbursement of funds under this scheme?
A: Funds are disbursed within 60 days of approval, after the submission of post-dated cheques and collateral security.

Q: How are applications scrutinized and approved under this scheme?
A: Applications are scrutinized within 3 months of receipt, and a decision is conveyed within 4 months of application submission.

Q: What documents are required to apply for financial support under this scheme?
A: Required documents include a Permanent Registration Certificate, Audited Statement of Accounts for 3 years, and a Project Report.

Q: Are units involved in research and development given preference under this scheme?
A: Yes, preference is given to units involved in research and development, small-scale sectors, and those run by women entrepreneurs.

Q: What is the guaranteed return on the capital contribution provided under this scheme?
A: The guaranteed return on the capital contribution is 6% or the actual profit generated by the unit.

Q: Can sick units apply for financial support under this scheme?
A: Sick units are eligible for financial support, but they must be covered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008.

Q: How are applications for sick units treated under this scheme?
A: Applications for sick units are considered under the Goa Sick Industrial Unit Revival and Rehabilitation Scheme, 2008, and not under this scheme.

Q: What is the process for units to receive payment at places other than where securities are enforced?
A: Units must send duly discharged securities to the Public Debt Office by Registered and Insured Post for payment at other locations.

Q: What is the requirement for submitting securities for repayment under this scheme?
A: Securities must be tendered 20 days in advance at the Public Debt Office or the relevant bank branch, duly discharged.