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Departmental
Circular No.11
MAHARASHTRA
STATE ELECTRICITY BOARD.
Rules
for supply on hire-purchase system of electrically
operated appliances and tools for agriculture
and industry. In order to encourage agriculturists
and those engaged in industry on cottage and small
scale industry basis to use electricity for such
purposes as pumping of water, weaving of cloth,
making of wood and metal articles and other similar
purposes, Chief Engineer, Maharashtra State Electricity
Board may give on hire-purchase system such appliances
as electric motors and switchgear, electrical
motor pump sets, transformer etc. and the like
and arrange for wiring up of the premises of agriculturists
and industrial workers and other prospective users
of electric energy from Grid Lines, on the following
terms:-
| (1) |
The
Chief Engineer shall let on hire, and, if
requested, erect and hand over in running
order the tools and appliances and equipment
to the hirer. |
| (2) |
The
Chief Engineer shall if requested by the hirer
carry out the electrical wiring of the hirer's
premises both for the purpose of lighting
as well as for operating the electrical appliances
mentioned in rule 1. |
| (3) |
The
entire cost of appliances and work carried
out under rules 1 and 2 less the amount prescribed
hereunder to be paid in advance as an initial
payment shall be recovered in equal quarterly
instalments in advance spread over a period
not exceeding five years commencing from the
date of handing over the equipment in running
order. The amount of initial payment to be
determined by the Chief Engineer shall not
be less than |
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a)20
per cent of the cost of wiring and installation,
and
b)10 per cent of the cost of equipment delivered
at site. |
| 3
(A) |
The
hirer, shall, forthwith on execution of
the agreement , pay to the Chief Engineer
at his office or as may be otherwise directed
by him the agreed amount of security deposit
which shall be liable to be forfeited in
case of any damage to the equipment or any
default whatsoever by the hirer.
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| (4) |
The
hirer shall pay in advance in quarterly
equated instalments in addition to the cost
of appliances and work done under rules
1 and 2, simple interest at 1 percent plus
the Bank rate in the year when the equipment
was supplied and/ or the work executed for
the full period on the balance amount of
cost remaining after the initial payment
as above, upto the time it is fully paid
in equated instalments. It is intended to
calculate the interest and the instalment
as follows:-
| Suppose
Balance amount |
........ |
Rs.1,000.
|
| Period
of payment |
........ |
5
years |
| Per
cent. plus Bank rate |
........ |
Rs.
6 per cent. |
|
Interest |
........ |
Rs.300. |
| Total
amount due |
........ |
Rs.
1,300. |
| Quarterly
equated instalments. |
........ |
Rs.
65. |
The
first quarterly payment is to be made before
receipt of equipment by the hirer and subsequent
advance payments to be made on (i) 1 st
April, (2) 1 st July, (3) 1 st October and
(4) 1 st January, commencing from the date
whichever is applicable after the first
payment.
The hirer shall have the option, to pay,
at any time, all the unpaid amounts due
in one instalment, in which case he shall
be entitled to proportionate rebate on the
interest charges covered by rule 4 for the
unexpired period.
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