ELIGIBILITY CRITERIA

  • The projects being set up in manufacturing and services sector ensuring asset creation out of the funds including start ups.
  • 30% of the beneficiaries assisted under the fund should preferably be women* and/or Disabled** SC entrepreneurs, holding atleast 51% of the shareholding in the company.
  • For Companies applying for assistance above Rs.50 lakh: Companies having atleast 51% shareholding by Scheduled Castes entrepreneurs for the past 12 months with management control OR a new Company provided that the new Company is a successor entity of a Proprietary Firm or Partnership Firm or One Person Company (OPC) or Limited Liability Partnership (LLP) of any other establishment incorporated under any law in force, with sound business model which has been in operation for over 12 months, and the predecessor entity had atleast 51% shareholding of the Scheduled Castes entrepreneurs with management control.
  • For Companies applying for assistance below Rs.50 lakh: Companies having atleast 51% shareholding by Scheduled Castes entrepreneurs for the past 6 months with management control OR a new Company provided that the new Company is a successor entity of a Proprietary Firm or Partnership Firm or One Person Company (OPC) or Limited Liability Partnership (LLP) of any other establishment incorporated under any law in force, with sound business model which has been in operation for over 6 months, and the predecessor entity had atleast 51% shareholding of the Scheduled Castes entrepreneurs with management control.
  • Documentary proofs of being SC will have to be submitted by the Entrepreneur at the time of submitting the proposal.
  • The SC promoters of Investee Company will not dilute their stake below 51% in the company till the exit under the scheme. However, in the event of any conversion of quasi-equity instrument under the scheme, strategic investments, buyouts etc, which result into dilution of stake of SC Entrepreneur, a prior written approval from Asset Management Company (AMC) would be required.
*For considering a company owned by a SC women entrepreneur, the SC women entrepreneur should hold atleast 51% of the shareholding in the company and should be the Managing Director of the Company;
** In the case of disabled entrepreneurs, guidelines issued by the Department of Empowerment of persons with Disabilities for qualifying as disabled would be followed.