Question : LOAN TO PHARMA COMPANIES UNDER CSIR SCHEME

(a) whether Council of Scientific & Industrial Research grants loan for Research and Development to Public and Private Sector Companies under New Millennium Indian Technology Leadership Initiative (NMITLI) Scheme;

(b) if so, the details thereof;

(c) the names of the companies which have been granted loan during the last three years and the current-year;

(d) the progress made by these companies as a result of financial support;

(e) whether the loans granted to the companies have been recovered;

(f) if so, the details thereof; and

(g) if not, the steps taken by the Government in this regard?

MINISTER OF THE STATE (INDEPENDENT CHARGE) IN THE MINISTRY OF SCIENCE AND TECHNOLOGY AND EARTH SCIENCES (PRITHVIRAJ CHAVAN)

(a) Yes Sir. Council of Scientific & Industrial Research grants loan for Research and Development to companies under the New Millennium Indian Technology Leadership Initiative (NMITLI) Scheme.

(b) Loans are granted to companies to carry out well focused R&D projects in Public-Private- Partnership (PPP) mode. The loan carries a simple interest of 3% per annum on the outstanding amount of the loan and is repayable in 10 yearly installments. The project implementation period is considered as the moratorium period. The interest accrued during the implementation period is amortized and is payable in a maximum of 3 to 5 installments.

(c) The names of the companies which have been granted loan during the last three years is given in Annexure-1. There is no loan given in the current year.

(d) The progress made by these companies in projects is given in Annexure-2.

(e) Some companies are repaying the loan while there are some defaulters as well. In other cases, loan repayment will start after 6 months of project completion.

(f) The status of loan repayment from the companies is given in Annexure-3.

(g) A systematic process is in place to deal with loan defaulters. The companies are pursued to repay the loan. Monitoring Committee of the project acts as arbitrator. Notice for recalling of entire due amount with penal interest @12% compounded monthly is served, if default continues.