Question : LOAN TO COMPANIES BY CSIR

(a) whether the Council of Scientific and Industrial Research (CSIR) provides soft loan to various companies for development and research;

(b) if so, the details thereof, inter-alia, indicating the names of such companies during each of the last three years and the current year;

(c) the criteria for sanctioning the loan;

(d) the names of such companies who have defaulted to repay the loan and the total outstanding dues from them;

(e) whether some companies have declared themselves sick after obtaining loan;and

(f) if so, the details thereof and the action taken by the Government to recover the outstanding dues and also the corrective measures initiated in this regard? ANSWER MINISTER OF STATE IN THE MINISTRY OF PLANNING;

MINISTER OF STATE IN THE MINISTRY OF SCIENCE AND TECHNOLOGY AND MINISTER OF STATE IN THE MINISTRY OF EARTH SCIENCES(ASHWANI KUMAR)

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

(b) The names of the companies along with amount of loans given by CSIR during last three years and the current year is given at Annexure-I.

(c) It is based on selection of project through CCEA approved procedure involving rigorous screening and project review.The criteria for selection of the project are based on novelty of the proposal, potential technological benefits and the ability of industry to capture those benefits. The financial support to industry is in the form of soft loan with 3% interest.

(d) The names of such companies who have defaulted to repay the loan and the total outstanding dues from them are given at Annexure-II.

(e) No companies have declared themselves sick after obtaining loan from CSIR.

(f) A systematic process is in place to deal with loan defaulters. The 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.Thereafter, legal actions are initiated to recover the loan.