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Tamil Nadu Industrial Investment Corporation Limited

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Tamil Nadu Industrial Investment Corporation Limited
Headquarters692, Anna Salai, Nandanam, Chennai - 600035, Tamil Nadu, India[1]
Key people
Thiru Hans Raj Verma, IAS, Chairman and Managing Director of TIIC
OwnerGovernment of Tamil Nadu
Websitewww.tiic.org

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

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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

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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

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  1. ^ "Location of Company". tn.gov.in. Retrieved 30 October 2012.
  2. ^ "History of Company" (PDF). tn.gov.in. Archived from the original (PDF) on 10 October 2017. Retrieved 30 October 2012.
  3. ^ "Functions of Company" (PDF). tn.gov.in. Retrieved 30 October 2012.
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