Government Order · Finance
NCDC financial assistance for expansion of Malabar Cooperative Textile Mills Ltd (MALCOTEX) - Release of Fund - Sanction accorded - Orders issued. ...
2026-09-30 · G.O. (RT)1169/2026/Industries · Industries Department
Summary
The Government of Kerala has sanctioned a subsidy of Rs. 18.02 Lakh to Malabar Cooperative Textile Mills Ltd (MALCOTEX) for its expansion project, supported by the National Cooperative Development Corporation (NCDC). The order specifies strict conditions for fund utilization, including a 5-year loan period, a 9.5% annual interest rate, and mandatory adherence to financial procedures and monitoring guidelines.
Key points
- Sanction of Rs. 18.02 Lakh subsidy for MALCOTEX expansion.
- Loan period set for 5 years with 9.5% annual interest.
- Repayment to commence on the first anniversary of the loan drawal.
- Funds must be utilized strictly for the specified expansion project.
- Director of Handloom and Textiles to monitor fund disbursement and utilization.
Full English text
Government of Kerala. Industries Department. Order. Financial assistance from the National Cooperative Development Corporation (NCDC) is sanctioned for the expansion of Malabar Cooperative Textile Mills Ltd (MALCOTEX). The Government has decided to sanction a subsidy amount of Rs. 18.02 Lakh. This amount should be utilized for the expansion project of Malabar Cooperative Spinning Mills. The order includes strict instructions regarding fund transfer, interest rate (9.5%), and repayment terms.