State Act
16
Section 16. Disposal of profits when condition of aid is not fulfilled.
The Telangana State Aid to Industries Act, 1976.
Act no. 53 of 19761976In forceTelangana (State Act)
16. No recipient of aid to any industry, other than a cottage industry, shall pay any dividend or distribute or take any profits in excess of such rate of percentage upon the amount of the capital of the industry as the Government may, from time to time, fix until the conditions on which the aid has been granted are fulfilled. The balance of the profits, after proper amounts have been set aside for depreciation or obsolescence of plant, machinery or buildings and for payment of interest on debentures or loans, shall be carried to a reserve fund to be utilised in such manner as the Government may approve.