ELIGIBILITY CRITERIA
- The projects being set up in manufacturing, services sector and allied sectors ensuring asset creation out of the funds deployed;
- Start ups would also be eligible for finance as per the scheme guidelines;
- Women and disabled Backward Classes entrepreneurs will be preferred;
- Minimum existence and shareholding criteria:
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If assistance is below Rs.50 Lakh: Companies having atleast 51% shareholding by Backward Classes entrepreneurs for the past 6 months with management control OR a new Company provided that the new Company is a successor entity of a Proprietary Firm or Partnership Firm or One Person Company (OPC) or Limited Liability Partnership (LLP) of any other establishment incorporated under any law in force, with sound business model which has been in operation for over 6 months, and the predecessor entity had atleast 51% shareholding of the Backward Classes entrepreneurs with management control.
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If assistance is above Rs.50 Lakh: Companies having at least 51% shareholding by Backward Classes entrepreneurs for the past 12 months with management control OR a new Company provided that the new Company is a successor entity of a Proprietary Firm or Partnership Firm or One Person Company (OPC) or Limited Liability Partnership (LLP) of any other establishment incorporated under any law in force, with sound business model which has been in operation for over 12 months, and the predecessor entity had atleast 51% shareholding of the Backward Classes entrepreneurs with management control.
- Documentary proofs of being Backward Classes will have to be submitted.
