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 ..... duration of the scheme to such industrial units which have pre-registered and commenced 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 ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Subsidence and Landslide (including Rockslide) resulting in collapse of the entire building or part of, ix. Earthquake Fire and Shock During the period of insurance named in the said schedule or of any subsequent period in respect of which the insured shall have paid and the Company shall have accepted the premium required for the renewal of the policy, 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Loss of damage directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material. 5. Loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionising radiations or contaminations by radio-activity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this Exclusion only, combustion shall include any self-sustaining process of nuclear fission. 6. Loss or damage to any electrical machine, apparatus, fixture or fitting (including electric fans, electric household or domestic appliances, wireless sets, television sets and radios) or to any portion 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revention of access to the same. PROVIDED nevertheless that the Company is not relieved under (c) or (d) above of any liability to the Insured in respect of physical damage to the property insured occurring before dispossession or during temporary dispossession. CONDITIONS 1. THIS POLICY shall be voidable in the event of mis-representation, mis-description or non-disclosure of any material particular. 2. All insurance under this policy shall cease on expiry of seven days from the date of displacement of any building or part hereof or of the whole or any part of any range of building or of any structure of which such building forms part. PROVIDED such a fall or displacement is not caused by insured perils loss or damage by which is covered this policy or would be covered if such building, range of buildings or structure were insured under this policy. Notwithstanding the above, the company, subject to an express notice being given as soon as possible but not later than 7 days of any such fall or displacement, may agree to continue the insurance subject to revised rates, terms and conditions as may be d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be liable for any loss or damage after the expiration of 12 months from the happening of the loss or damage unless the claim is the subject of pending action or arbitration; it being expressly agreed and declared that if the Company shall disclaim liability for any claim hereunder and such claim shall not within 12 calendar months from the date of the disclaimer have been made the subject matter of a suit in a court of law then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable hereunder. 5. On the happening of loss or damage to any of the property insured by this policy, the Company may:- (a) enter and take and keep possession of the building or premises where the loss or damage has happened. (b) take possession of or require to be delivered to it any property of the insured in the building or on the premises at the time of the loss or damage. (c) keep possession of any such property and examine, sort, arrange, remove or otherwise deal with the same. (d) sell any such property or dispose of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny to reinstate or replace. If in any case the Company shall be unable to reinstate or repair the property hereby insured, because of any municipal or other regularizations in force affecting the alignment of streets or the construction of buildings or otherwise, the Company shall in every such case, only be liable to pay such sum as would be requisite to reinstate to its former condition. (8) The insured shall at the expense of the Company do and concur in doing, and permit to be done, all such acts and things as may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies or of obtaining relief or indemnity from other parties to which the Company shall be or would become entitled or subrogated, upon its paying for or making good any loss or damage under this policy, whether such acts and things shall be or become necessary or required before or after his indemnification by the Company. (9) If at the time of any loss or damage happening to any property hereby insured there be any other subsisting insurance or insurances, whether effected by the insured or by any oth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e full extent of the respective sum insured in consideration of which, upon the settlement of any loss under this policy, pro rata premium for the unexpired period from the date of such loss to the expiry period of insurance for the amount of such loss shall be payable by the Insured to the Company. ANNEXURE-I List of Existing Industrial Estates. Kashmir Division Sl. No. Name of District Name of Industrial Estate 01. Srinagar BAMK (Bagi Ali Mardan Khan Zakura Zainkote Khonmoh Shaltaing 02. Ganderbal Duderhama Ganderbal 03. Budgam Barzulla Rangreth 04. Anantnag Anantnag Anchidora Bijbehara 05. Kulgam Kulgam 06. Pulwama Pulwama Chatpora IDC Lassipora 07. Shopian Gagran 08. Baramulla Baramulla Sopore Food Park Doabgah 09. Bandipora Sumbal 10. Kupwara Branwara Chotipora 11. Leh Leh Phyang Khaltsi 12. Kargil Chanchik Khurbathang New Industrial Es ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulture 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. Floriculture , Processing of Aromatic and medicinal plant, Green house. 8. Computer hardware /Electronics (integrated circuit and micro assemblies). 9. Sports goods and articles and equipment for general physical exercise. 10. Auto ancillaries . 11. Exploration of minerals and minerals based industry. Gypsum, Plaster of Paris with chip boards, Granite and Marble cutting and finishing, cutting and polishing of gems and making of jewellary. 12. Eco tourism :- Hotels, Houseboats, Resorts, Adventure and leisure sports, Amusement parks, Cable car, Guest houses. 13. Handicrafts and Handlooms. 14. Precision engineering. 15. Packing industry :-items like adhesive tapes, strapping rolls, pet bottles, Card board corrugated boxes, pl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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