Tamil Nadu Industrial Investment Corporation Limited Explained

Tamil Nadu Industrial Investment Corporation Limited
Location:	692, Anna Salai, Nandanam, Chennai - 600035, Tamil Nadu, India^[1]
Key People:	Thiru Hans Raj Verma, IAS, Chairman and Managing Director of TIIC
Owner:	Government of Tamil Nadu
Homepage:	www.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

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]

External links

• Official Website of the Tamil Nadu Industrial Investment Corporation Limited

Notes and References

1. News: Location of Company. tn.gov.in. 2012-10-30.
2. News: History of Company . https://web.archive.org/web/20171010152853/http://www.tiic.in/RTI.pdf . 2017-10-10 . 2012-10-30 . tn.gov.in.
3. News: Functions of Company. tn.gov.in. 2012-10-30.