How to Draft Application for Equity Grant Fund

Application for Equity Grant Fund Eligible FPCs that meet the eligibility criteria detailed in Section 5, shall apply for the Equity Grant

Other mandatory documents required to be submitted along with the Application are listed below:

  • Shareholder List and Share Capital contribution by each member verified and certified by a Chartered Accountant (CA) prior to submission.
  • Resolution of the FPC Board/Governing Council to seek Equity Grant for members.
  • Consent of shareholders, stating name of shareholder, gender, number of shares held, face value of shares, land holding, signifying consent for SFAC to directly transfer the equity Grant sanctioned to the FPC on their behalf, to FPC Bank account, against the consideration of additional shares of equivalent value to be issued to them by FPC and on exit- transfer of the shares as per rules.
  • Audited Financial Statements of FPC for a minimum 1 year /for all years of existence of the FPC if formed less than three years prior to application/ for the last 3 years for FPCs in existence for 3 years or more, verified and certified by a Chartered Accountant (CA) prior to submission.
  • Photocopy of Bank Account Statement for last six months authenticated by the Branch Manager of the “Bank”.
  • Business Plan of FPC and budget for next 18 months.
  • Names, photographs, and identity proof (any one from among ration card, Aadhaar card, election identification card, passport) of Representatives/ Directors authorised by the Board for executing and signing all documents under the Scheme.
  • Each page of the Application Form and accompanying documents shall be signed by a minimum of two Board Member /Authorised Representatives of the FPC.