9911796707
TMI BlogCENTRAL COMPREHENSIVE INSURANCE SUBSIDY SCHEME, 2012.X X X X Extracts X X X X X X X X Extracts X X X X ..... ed commercial production/operation before 14-06-2017, for a period of five years from date of commencement of commercial production/operation. The unit should file its claim as per prescribed procedure at District Industry Centre concerned within one year from the date of commencement of commercial production/operation. The industrial units registered before 15-06-2012 under the erstwhile scheme of subsidies and have filed the claims within one year of the date of commencement of commercial production/operation would be eligible for subsidies under the erstwhile scheme. Units which were registered after 15-06-2012 would be covered under the present scheme. However, if such a unit has not registered with DIC (District Industry Centre) due to non-existence of the Package during the intervening period or not submitted claims within one year of the date of commencement of commercial production/operation, the unit can do so no later than 31st December, 2013. (iii) Extent of admissible subsidy:- An Insurance subsidy to the extent of 100% would be admissible during the extended package to all new industrial units and to the existing units on substantial expansion in notified areas as per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olicy, the Company will pay to the Insured the value of the Property at the time of the happening of its destruction or the amount of such damage or at its option reinstate or replace such Property or any part thereof. PROVIDED that the liability of the Company shall in no case exceed in respect of each item the sums expressed in the said Schedule to be insured thereon or in the whole the total sum insured thereby or such other sum or sums as may be substituted thereof by memorandum thereon or attached hereto signed by or on behalf of the company." RIOT, STRIKE, MALICIOUS AND TERRORIST DAMAGE CLAUSE This Policy covers Riot, Strike, Malicious and Terrorist Damage as under:- I. Loss of or visible physical damage by external violent means to the property insured directly caused by: (1) The act of any person taking part together with others in any disturbance of the public peace (whether in connection with a strike or lock-out or not) not being an occurrence mentioned in exclusion 7(a),(b). (2) The action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimising the consequence of any such disturbance. (3) The willful ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion or the electrical installation, arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self-heating or leakage or electricity, from whatever cause(lightning included) provided that this exemption shall apply only to the particular electrical machine, apparatus, fixture, fitting or portions of the electrical installation so affected and not to other machines, apparatus, fixtures, fittings, or portions of the electrical installation which may be destroyed or damaged by fire so set up. 7. Loss or damage occasioned by or through or in consequence directly or indirectly, of any of the following occurrences, namely, (a) War, invasion, act of foreign enemy hostilities or warlike operations (whether war be declared or not), civil war, (b) Mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, military or usurped power. In any action, suit or other proceeding where the company alleges that by reason of the provisions of the above exclusions any loss or damage is not covered by this insurance, the burden of proving that such loss or damage is covered shall be upo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f any such fall or displacement, may agree to continue the insurance subject to revised rates, terms and conditions as may be decided by it and confirmed in writing to this effect. 3. The insurance may be terminated at any time at the request of the insured, in which case the company will retain the premium at customary short period rate for the time the policy has been in force. The insurance may also at any time be terminated at the option of the Company on 15 days notice to that effect being given to the Insured, in which case the company shall be liable to reply on demand a ratable proportion of the premium for the un-expired term from the date of the cancellation. 4. (1) On the happening of any loss or damage the insured shall forthwith give notice thereof to the company and shall within 15 days after the loss or damage or such further time as the company may in writing allow in that behalf, deliver to the company. (a) claim in writing for the loss or damage containing as particular an account as may be reasonably practicable of all the several articles or items or property damage or destroyed, and of the amount of the loss or damage thereto respectively, having regard t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m under the policy, or if any claim is made, until such claim is finally determined or withdrawn, and the company shall not by any act done in the exercise or purported exercise of its powers hereunder, incur any liability to the insured or diminish its rights to rely upon any of the conditions of this policy in answer to any claim etc. If the insured or any person on his behalf shall not comply with the requirements of the Company or shall hinder or obstruct the Company, in the exercise of its powers hereunder, all benefits under this policy shall be forfeited. The Insured shall not in any case be entitled to abandon any property to the Company whether taken possession of by the Company or not. (6) If the claim be in any respect fraudulent, or if any false declaration be made or used in support thereof or if any fraudulent means or devices are used by the insured or any on acting on his behalf to obtain any benefit under the policy or if the loss or damage be occasioned by the willful act, or with them connivance of the insured, all benefits under this policy be forfeited. (7) If the company at its option, reinstate or replace the property damaged or destroyed or any part th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll bear a ratable proportion of the loss accordingly. Every item, if more than one of the policy shall be separately subject to this condition. Provided, however that if the sum insured hereby on the property insured shall at the operation of any of the perils insured under this Policy or at the commencement of such destruction or damage be not less than 85% (eighty-five percent) of the collective value of the property insured, this condition shall be of no purpose and effect. (11) If any dispute or difference shall arise as to the quantum to be paid under this Policy (liability being otherwise admitted) such difference shall independently of all other questions be referred to the decision of a sole arbitrator to be appointed in writing by the parties to or they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration the same shall be referred to a panel of three arbitrators, comprising of two arbitrators, one to be appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitrator shall b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Poonch Poonch 08. Kishtwar Sangrambata 09. Doda Dandi (Bhaderwah) New Industrial Estates (Under Development) in Jammu Division Sl.No. Name of District Name of Industrial Estate 01. Kathua Ghatti Govindsar Phase I-II DambraBillawar Hiranagar (ChakBulananda) 02. Rajouri ThandiPani ( Silk Cluster) Lamberi 03. Udhampur Majalta 04. Doda Beoli 05 Reasi Nimba 06. Poonch Surankote 07. Samba IGC Samba Phase-III. ANNEXURE - II Thrust Industries included under J&K Industrial Policy Sl. No. Activity/Industry 1. Food processing /Agro based Industries :- a. Sauces, Ketchup etc. b. Fruit juices and Fruit pulp c. Jams, Jellies, Vegetable Juices, Puree, pickles etc. d. Processing of fresh fruits, Fruit waxing, packing, grading e. Flour mills and Rice Mills. f. Spice grinding. g. Pasteurization/Processing of milk and other dairy products. 2. Leather processing and Leather goods. 3. Tissue culture and Mushroom culture, Compost making , Dairy farming. 4. Silk reeling, yarn and yarn spun from silk waste, Woven fabrics of silk or silk waste. 5. Wool and woven fabrics of wool, Manufacturing of woolen blanket. 6. Woven fabrics of cotton. 7. F ..... 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