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SFAC VCA Guideline PDF
SFAC VCA Guideline PDF
Operational Guidelines
Venture Capital
Assistance Scheme
for
Agribusiness Development
XIIth Plan (20122017)
AGRIBUSINESS DEVELOPMENT THROUGH
VENTURE CAPITAL ASSISTANCE AND
PROJECT DEVELOPMENT FACILITY
1. Introduction
1.1 Farming is the single largest private sector economic activity in the country. The growth
potential in this key sector is immense in view of the changes taking place in food
consumption and there is growing demand for high value processed products. Successes
in such endeavors will require innovations and partnerships. Private agribusiness provide
first point market for the farm sector and growth depends principally on private initiatives.
A significant portion of agribusiness activity is the result of small and medium enterprises.
Such enterprises are necessarily widespread in location to capture opportunities that
arise all along the farm to table supply chain. Key constraints that impede development
of new agribusiness projects are access to information and access to credit. Agribusiness
entrepreneurs are generally first generation who have business skills but their financial
resources are limited for setting up units at the farm gate with backward linkages.
In order to facilitate agribusiness development in the country SFAC venture capital
scheme will:
(a) Assist agripreneurs to make investments in setting up agribusiness projects through
financial participation, and
(b) Provide financial support for preparation of bankable Detailed Project Reports (DPRs)
through Project Development Facility (PDF).
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1. SFACs focus is to attract private investment for setting up of projects that will link farmers
& producer groups to markets, thereby substantially enhancing the opportunities for growth
through commercial business activity.
2. The objective sought to be achieved by SFAC in discharging its duties are _______________
Venture Capital Assistance and Project Development Assistance to qualifying projects through
participating Notified Financial Institution.
3. This agreement for SFAC Venture Capital Assistance operations with participating lending
Notified Financial Institution will synergize their functions, competencies and projected sector
development.
4. Whereas the Notified Financial Institution, in furtherance of its desire to play an active role in
participation and promotion of investments in qualifying agribusiness projects and to coordinate
the related activities with SFAC, is prepared to make available term loans/ working capital
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VsyhQksu%------------------------------ QSDl%-------------------------------bZ&esy%-----------------------------------------------
VsyhQksu%---------------------------------QSDl%------------------------------bZ&esy%-----------------------------------------------
Witness:
(Name & Address)
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vfklwfpr fokh; laLFkk ds eq[; dk;Zdkjh vf/kdkjh izca/k funs'kd
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M/s. ., a Company incorporated under the Indian Companies Act 1956, having its place
of business/Registered Office at, and factory/processing unit at,
hereinafter called the BORROWER (which included his/her/its heirs, executors, administrations,
successors and assignees) as first party & Small Farmers Agribusiness Consortium (SFAC), a
Society registered under Societies Registration Act 1860, having its Registered Officer at NCUI
Auditorium Building, 5th Floor, 3, Siri Institutional Area, August Kranti Marg, Hauz Khas, New
Delhi-110016 hereinafter called SFAC (which includes their assignees, attorneys and successors
in title) as Second Party.
Whereas the first party is setting up.... and is in need of Venture Capital amount
which will be deemed to be a loan after recovery of term loan of Leading Bank..,
hereinafter called the Bank (which includes its successor banks). The Venture Capital Assistance
amount will be refundable prior to due date or on the scheduled end date of their term loan
whichever is earlier. At the request of first party vide their application dated.. received
directly or through SFAC has considered and sanctioned Venture Capital amount of
` lakh (Rupees only) to the First party. The first party will refund the amount of Venture
Capital granted by SFAC in lump sum on liquidation of Notified Financial Institution term loan as
per original schedule of repayment, which is . as advised by Notified Financial Institution.
The borrower will tender a post dated cheque dated . for the amount of Venture Capital
Assistance amount for this purpose.
AND
Whereas in consideration of the above promises The First Party, . offered as security
by way of equitable/registered mortgage on agricultural land and appurtenants/building thereto as
required by SFAC as per details given in Annexure A and will also hypothecate movable assets like
plant & machinery/vehicles/equipment/raw materials. etc., as per details given in Annexure B,
tcfd izFke ikVhZ -----------------------------------dh LFkkiuk dj jgh gS vkSj mls blds fy, m|e iwath jkf'k
dh t:jr gS ftls _.knkrk cSad ds lkof/k _.k dh olwyh ds Ik'pkr _.k ds rkSj ij ekuk tk,xk ftls
blds ckn ls cSad dgk tk,xk ftlesa blds mkjkf/kdkjh cSad Hkh 'kkfey gSaA m|e iwath lgk;rk jkf'k
dks ns; frfFk ;k muds lkof/k _.k dh fu;r vafre rkjh[k ds igys okil djuk gksxkA izFke ikVhZ ds
vkosnu fnukad---------------------------tks fd lh/ks ;k -------------------------ds ekQZr izkIr gqvk gS ds vuqjks/k
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laLFkk ds lkof/k _.k dks iquHkqZxrku ds ewy le;&lkfj.kh vuqlkj ,d eq'r :Ik esa okil djsxkA _.kh
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djsxkA
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ds :i esa nsxk rFkk pylEifk tSls dkj[kkuk@e'khusa@okgu@;a=@dPpk eky vkfn Hkh tSlk fd layXud&II esa
(i) To pay all taxes, rents etc. regularly and in the time in order to keep the hypothecated
and mortgaged assets free from distress, attachment, sale, etc.
(ii) Not to create any charge by way of mortgage, pledge, hypothecation, sell or dispose off
in any manner the movable/immovable properties referred to in the Annexures.
(iii) To keep SFAC indemnified at all times for the losses caused to it on account of negligence
of Borrower.
(iv) To execute any other document or furnish information as and when required
by SFAC.
(v) To ensure that after the repayment of the term loan, the beneficiary will continue to
comprehensively ensure the movable and immovable assets being charged to SFAC
with SFAC Clause and hand over the same to SFAC till refund of the amount of Venture
Capital amount.
(vi) In the event of any incident, the Borrower shall file the claim with the respective insurance
company and keep SFAC posted about the receipt of claim amount and damages etc.
(vii) The Borrower undertake to ensure that the permits, licenses are renewed timely and kept
intact.
15. That in the event of the Borrower failing to pay the balance or any other money due to the
SFAC by virtue of this agreement or if for any reason the SFAC thinks that its interest is in
jeopardy, the SFAC reserves the right to dispose of all the securities either hypothecated or
mortgaged in order to recover its dues without intervention of Court.
16. That the Officers or nominees of the SFAC, shall have free access to business premises in
order to ascertain the actual status of the securities hypothecated/mortgaged assets to the
lending Notified Financial Institution/SFAC and to take possession if warranted for the purpose
of acquiring/selling of any of the hypothecated/mortgaged assets by public auction without
17. The borrower also understands and agrees not to neglect or refuse any of the obligation
towards furnishing documents required for monitoring the progress of the project, change of
Notified Financial Institution or otherwise shifting the location and the assets acquired for the
projects and more particularly towards repayment of the amount of Venture Capital, SFAC
will proceed to recover the amount due as if it were an arrears of land revenue.
18. That the Borrower hereby declares that the contents of this agreement have been read and
understood by him and he will abide by the terms and conditions of this agreement.
19. That the Borrower shall not remove or dismantle any of the goods/assets as mentioned in
Annexures without the written consent of the SFAC.
That in the event of any dispute arising between the parties only Delhi Courts have jurisdiction
to try, entertain and decide the said matter.
In Witness of above both parties have executed this agreement on this.. day of .. Two
Thousand ..................... (.201..).
(..) (.)
(..) (..)
---------------------- -------------------------
uke ,oa in uke ,oa in
--------------------- ---------------------
lk{kh ds gLrk{kj lk{kh ds gLrk{kj
Sl. Letter No. Amount Certified that out of the sum of ` of Venture Capital
No. and date assistance sanctioned during the year in favour of ..
1. under this Ministry/ Department letter Nogiven in the
margin and ` on account of unspent balance of the previous
year, a sum of ` has been utilized for the prupose of.. for
2. which it was sanctioned and that the balance of ` remaining
unutilized at the end of the year has been surrendered to the
Government (Vide No dated.)/will be adjusted towards
Total the Venture Capital assistance payable during the next year or
utilized in the next financial year.
Certified that I have satisfied myself that the conditions on which the Venture Capital assistance
was sanctioned have been duly fulfilled/are being fulfilled and, that I have exercised the following
checks to see that the money was actually utilized for the purpose for which it was sanctioned.
1.
2.
3.
Signature.....
(Name).....
Designation............
(Office seal).....
Chartered Accountant
(with address and seal)
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2-
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inuke----------------------------------------------------
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f"k ea=ky; Operational Guidelines Venture Capital Assistance
52 Scheme for
nwjHkkk% 011&26862365] bZiAgribusiness Development
hch,Dl% 011&26966017] 26966037
f"k ,oa lgdkfjrk foHkkx bZesy: sfac@nic.in | osclkbV: www.sfacindia.com