How to Apply for Chhattisgarh Payment Facility for Sick Enterprises — 36 EMIs

Approval follows from verification of status, not from a competitive round.

1. Sick status is established. A financial institution or a designated government body determines whether the enterprise qualifies as sick, applying criteria such as its financial performance, erosion of net worth and its inability to meet debt obligations.

2. The application is filed under the policy. Once the declaration is in place, the enterprise applies for the payment facility under the Chhattisgarh Industrial Development Policy 2024-30, setting out the dues it wants restructured and the instalment pattern it prefers.

3. Review against policy terms. Authorities examine the request to confirm it complies with the conditions of the policy.

4. Verification of dues and eligibility. The outstanding amounts and the enterprise's eligibility status are checked.

5. Approval of the payment plan. The structured repayment schedule is sanctioned, after which the enterprise pays according to the monthly or quarterly instalments it has opted for.