The Tamil Nadu Industrial Investment Corporation Limited (TIIC) (Tamil: தமிழ்நாடு தொழில் முதலீட்டுக் கழகம்), Limited is an institution owned by the government of Tamil Nadu and is intended as a catalyst for the development of small, medium and large scale industries in Tamil Nadu. It was established in 1949.
History
The Tamil Nadu Industrial Investment Corporation Limited (TIIC), a government company incorporated under the Indian Companies Act 1913 and continues to be a government company under the Companies Act, 1956. The authorised share capital of the company is ₹300 crores and the paid up capital of the company is ₹283.4956 crores [2]
Functions
TIIC as a State Level Financial Institution, offers long and medium term financial assistance to various industries including service sector in the following forms:
- Term Loans
- Term Loan and Working Capital Term Loans under the Single Window Scheme.
- Special types of assistance like Bill Financing Scheme, etc.[3]
References
- ^ "Location of Company". tn.gov.in. Retrieved 30 October 2012.
- ^ "History of Company" (PDF). tn.gov.in. Retrieved 30 October 2012.
- ^ "Functions of Company" (PDF). tn.gov.in. Retrieved 30 October 2012.
External links
