Marriage Loan Rs.75000/-

GOVERNMENT OF ANDHRA PRADESH

ABSTRACT

ADVANCES – Sanction of advance of Rs. 75,000/-to Smt K.Leelavathi, Record
Assistant, Industries and Commerce Department to celebrate her daughter’s Marriage - Orders - Issued.
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INDUSTRIES AND COMMERCE (OP.I) DEPARTMENT

G.O.Ms.No. 98 Dated:19/05/2012.

Read the following:-
1. From Smt K.Leelavathi, Record Assistant, Ind & Com Dept., application Dt.
11/04/2012.
2. G.O.Rt.No. 1815, Fin (A&L) Dept., Dt. 20/04/2012

3. Government Memo No.6673/OP.I/A2/2012-1 dt: 11.05.2012.

* * *
ORDER:
Sanction is accorded for an advance of Rs. 75,000/- (Rupees Seventy five
thousand only) to Smt.K.Leelavathi, Record Assistant, Industries and Commerce Department towards Marriage Advance to celebrate the marriage of her daughter.

2. The amount sanctioned in para - 1 above shall be drawn and disbursed in one lumpsum from the provision allot1ted by the Finance (A&L) Department in the reference 2nd read above.

3. The amount sanctioned in para -1 above is subject to the following conditions:-

(a) The advance shall be drawn and disbursed not earlier than two months of the anticipated date of celebration of the marriage for which it is sanctioned.

(b) The advance shall be disbursed by the disbursing officer after obtaining a
personal security bond in Form - III appended to G.O.Ms.No.90, Finance and
Planning (PPR&L) Department, Dated: 26-3-1970 duly executed by the
borrower and another permanent Government servant as surety drawing a pay
not less than that of the borrower and not retiring before completing
repayment of the advance which interest guaranteeing the repayment of the
advance.

(c) The advance shall bear simple interest as indicated in the annexure to this
order, which is provisionally fixed and subject to revision from time to time.

(d) The principal of the loan shall be recoverable in the number of installments and at the rate as indicated in the annexure to this order and commence from the pay bill of the calendar month subsequent to the month in which the marriage has been celebrated or from the pay of the third calendar month subsequent to the drawal of the advance whichever is earlier. The amount to be recovered monthly being fixed in the whole rupee except in the case of first installment the remaining balance including the fraction of a rupee will be recovered.

(e) The recovery of interest shall commence immediately on completion of the
recovery of principal. The amount of interest shall be recovered in ten monthly
installments.

(f) If the loanee fail to utilise the amount for this purpose for which it is sanctioned within three months from the date of drawal it shall be refunded to Government in lumpsum together with penal interest at 1 1/2%, time to time.

(g) In case where the loanee dies before the repayment is completed, the
outstanding balance and interest shall be recovered from the Death-Cum-
Retirement-Gratuity payable to the legal heir or heirs as stipulated in the
agreement.

(h) The loanee shall submit to the government a certificate of utilisation of
Form -IV appended to G.O.Ms.No. 90, Finance and Planning (PPR&L)
Department, Dated: 26-3-1970 within one month from the date of celebration
of Marriage or within three months from the date of the advance whichever is
earlier. If the actual expenditure incurred on account of the marriage is less
than the advance drawn, the advance should be refunded to Government
forthwith.

4. The expenditure shall be debited to the Head of Account “7610-Loans to
Government Servants etc. M.H. - 800 - Other Advances - S.H(05) - Marriage advance- 001 Marriage Advances”.

5. This order does not require the concurrence of Finance Department under rules or orders on the subject in force.

C.R. BISWAL

PRINCIPAL SECRETARY TO GOVERNMENT (FP) (FAC)

ANNEXURE

ANNEXURE TO G.O.MS.NO. , IND & COM DEPT., DATED:19.05.2012.

Sl. No.	Name and Designation	Date of Marriage	Amount Sanctioned	Rate of interest	Mode of recovery of
1.	K.Leelavathi Record Asst.	July, 2012	Rs.75,000/-	5½ %	Principal	Interest
					40 monthly installments	in 10 monthly installments @Rs.1875/- per month.