1.0 Short Title:
These rules may be called "SJVN Conveyance Advance Rules".

2.0 Applicability:
These rules shall be applicable to all full time employees of the Company except:

1. Lien holders;
2. Deputationists;
3. Apprentices/trainees, whether engaged under Company's own training scheme or under the Apprentices Act, 1961; and
4. Muster roll, daily rated, casual, badli, workcharged or substitute employees.

3.0 Scope:
3.1 The provisions of this chapter shall regulate the cases relating to the grant of conveyance advance for purchase of motor cars (including jeeps), scooters/motorcycles and mopeds by the eligible employees of the Company.

3.1.1 The provisions of this chapter shall also regulate mutatis mutandis the cases relating to the grant of conveyance advance for repayment of the balance amount of conveyance advance together with accrued interest thereon, directly by the Company to the parent organization of such employees as join/get absorbed in the Company from other Government Departments/Public Sector Undertakings/Statutory Corporations/Quasi- Government Bodies.

3.1.2 No advance shall be granted in case the total deduction (statutory/otherwise) exceeds 75% of gross salary. Gross Salary means Basic + DA + other local allowances excluding HRA/Lease.

4.0 Eligibility:
4.1 The advance will be granted only to such employees as have completed atleast one year's service in the regular establishment of the Company or who have been subscribing for atleast one year either to the SJVN Provident Fund Account or any other recognized Provident Fund Account.

Provided that the above stipulation regarding minimum one year's service shall not be applicable in respect of such employees of Government Departments/Public Sector Undertakings/Statutory Corporations/Quasi- Government Bodies as join the services of the Company and apply for an advance for the purpose of repayment of the balance amount of conveyance advance earlier taken from their parent organizations/departments and interest accrued thereon in whose cases the principal and interest will be taken as it is.

Further provided that HPSEB employees after absorption in SJVN shall be eligible for grant of advances during probation period subject to having served atleast one year prior to absorption in SJVN.

4.2 An advance towards the purchase of a car (including repayment of an advance taken from an earlier organization from which an employee has joined the Company) shall be granted only to such employees as are in the rank of Officer/ Engineer (E2) or equivalent and above.

4.2.1 In case employee is eligible under Clause 4.2 above but before become eligible in SJVN he had already taken loan from Nationalized Banks/Govt./Financial Institutions for purchase of new Car, conveyance advance towards outstanding loan including interest thereon be paid to bank/financial institutions directly not exceeding amount admissible under these rules subject to employee furnishes the following:

1. Proof in support of availment of loan.
2. Proof of outstanding loan.
3. Registration Certificate & Insurance..
4. Proforma Invoice for Maruti Std. (Euro II).
5. Undertaking for repayment of additional amount of outstanding loan, if any.
6. Undertaking for submitting certificate in respect of vehicle stand free from hypothecation and encumbrance of respective Bank/Institution.

4.2.2 Employee shall complete all formalities required under these rules for conveyance advance under above Sub Rule.

4.3 An advance towards purchase of a scooter/motor cycle & Moped (including repayment of an advance taken from an earlier organization from which an employee has joined the company) shall be granted to all the employees in the grade of W1 and above.

4.4 An employee who is otherwise eligible for grant of advance for the purchase of a scooter/motorcycle and moped shall not be eligible for the advance if a vehicle of the same/higher type is already owned and registered in his name, unless he desires to sell of the same and utilize the sale proceeds for the purchase of another similar/higher type of vehicle.

4.5 An employee who is otherwise eligible for grant of advance for the purchase of a car shall not be eligible for the advance if a vehicle of the same type is already owned and registered in his name, unless he desires to sell off the same and utilize the sale proceeds for the purchase of another similar vehicle.

4.5.1 For the purpose of rules 4.4 and 4.5, a motorcycle/scooter/moped of any make/brand will be deemed to belong to the same type; similarly, a car (including jeep) of any make/brand will be deemed to belong to the same type.

4.6 An employee will be eligible for the advance only if an earlier conveyance advance (other than an advance for bicycle) sanctioned to him, if any, has been recovered in full and a minimum period of 4 years reckoned from the date of drawl of the last advance has elapsed. Provided that the above restriction of 4 years shall not apply, in case of purchase of a motor-car where the earlier advance was drawn for the purchase of a scooter/motorcycle/moped.

4.7 An employee who has transferred the ownership (other than by way of sale) of his vehicle, owned and registered in his name within the last one year of the date of making an application shall not be eligible for grant of the advance.

4.8 The advance will not be sanctioned to an employee who is to leave the services of the Company within 36 months of the grant of advance either on superannuation or otherwise.

4.9 An employee during his suspension period shall not be eligible for the advance.

4.10 Employees upto E1 level who are otherwise eligible for grant of advance for purchase of scooter/motorcycle shall be also permitted to purchase a vehicle of higher type i.e. car subject to following:

1. The advance sanctioned shall be restricted to entitled mode of conveyance.
2. The anticipated cost of vehicle (higher type) shall be more than 90% of the cost of entitled mode of conveyance.
3. The vehicle of higher mode purchased shall be hypothecated to the company and shall be comprehensively insured.

5.0 Amount:
5.1 The maximum amount of advance for the purchase of a motor car to an employee shall be limited to the least of the following:

5.1.1 For advance granted for the first time:

1. the anticipated cost of the motor car or
2. 90% of the price of Maruti ordinary/standard 800 CC model-Euro II. However in case of DGM and above 90% of new Maruti Zen (LX) Euro II.

5.1.2 For advance granted for the subsequent occasions Amount of advance as admissible in para 5 .1.1 reduced by the sale proceeds of the previous vehicle, after repayment of previous advance.

5.2 The maximum amount of advance for the purchase of a scooter/motor cycle for the first time to an employee shall be limited to the least of the following:

1. the anticipated cost of the Scooter/Motor cycle or
2. 90% of the cost of Bajaj (Chetek) 150 CC Scooter/ 100 CC Bajaj Kawasaki Motorcycle.

5.2.1 For advance granted for the subsequent occasions Amount of advance as admissible in Para 5.2 reduced by the sale proceeds of the previous vehicle, after repayment of previous advance.

5.3 The maximum amount of advance for the purchase of a moped for the first time to an employee shall be limited to the least of following:

1. the anticipated cost of moped or
2. 90% of the cost of Bajaj 50 CC moped.

5.3.1 For advance granted for the subsequent occasions Amount of advance as admissible in Para 5.3 reduced by the sale proceeds of the previous vehicle after repayment of previous advance.

NOTE: Registration money, however, wherever applicable will be paid by the employee in full.

5.4 If a vehicle owned and registered in the name of an employee has been sold of by him within the last one year of the date of making an application, the amount of advance will be restricted to the difference between the cost of the vehicle to be purchased and the sale proceeds of the vehicle (provided the sale proceeds are lesser than the cost of the vehicle to be purchased) subject to the ceiling of the maximum permissible amount of advance. If the sale proceeds have been utilized for payment of an earlier conveyance advance, only such portion of the sale proceeds as is left over with the employee will be taken into account for calculating the aforesaid difference.

5.5 The number of occasions on which advance can be granted to an employee shall not exceed three each for scooter/motorcycle/moped and car during his entire service, subject to fulfillment of other conditions of these rules.

5.6 The anticipated price of the vehicle will include expenditure on items like spare wheel together with a tyre and tube or pillion seat of a scooter, which have to be necessarily purchased alongwith the scooter/ motor-cycle and motor car. It shall not, however, include the cost of accessories like radio in a car, plastic cover etc. which are not essential items and are purchased by the customer of his own volition and the insurance charges, road tax etc. payable for the vehicle purchased.

6.0 Procedure:
6.1 An employee, who satisfies the conditions of eligibility laid down herein, may apply in the prescribed proforma through proper channel to his head of department. If the head of department is prima facie satisfied that it is necessary for the applicant to maintain and use his own conveyance in the interest of Company's work, he will recommend for the grant of the advance and refer the application to the concerned Personnel Department.

6.2 On receipt of the application in the Personnel Department, the concerned dealing officer will scrutinize the application with reference to the eligibility conditions as provided herein and budget availability as well as the repaying capacity of the concerned individual; and will thereafter put up the case alongwith his observations for the consideration of the Sanctioning Authority as per delegation of powers. If he is satisfied, he will accord his approval to the grant of conveyance advance. Thereupon the sanction order will be issued by the concerned dealing officer of the Personnel Department.

7.0 Disbursement:
7.1 On receipt of the sanction order by the employee concerned, he will be required to execute an Agreement in the prescribed proforma, to hypothecate the vehicle in favour of the Company on a non-judicial stamp paper of the requisite value as also a Surety Bond, in the prescribed proforma, from a confirmed employee of the Company, who fulfils the following requirements:

7.1.1 His salary/wages is not less than two-third of that of the applicant.

7.1.2 He is not likely to superannuate within 12 months of the date of executing the Surety Bond.

7.1.3 He has not stood surety in more than two cases of conveyance advance.

7.1.4 The employee applying for conveyance advance has not already stood as a surety for him when he applied for conveyance advance.

7.1.5 He is working, to the extent possible, in the same division/office where the applicant is working for the time being.

7.2 The applicant shall be required to get executed a Surety Bond from another substitute surety in the event of the surety employee's leaving the services of the Company before the applicant has hypothecated the vehicle in favour of the Company.

7.3 The liability of the surety will continue so long as the vehicle is not hypothecated to the Company or till the advance, in full (including interest thereon), is repaid to the Company, whichever event happens earlier.

7.4 On receipt of the Agreement and Surety Bond in the concerned Personnel Department, the dealing officer will get it vetted by the Legal Department. After the documents are found to be in order, the same will be returned to the concerned Personnel Department and a communication advising the concerned Accounts Department to release the amount to the concerned individual will be issued whereupon the amount will be released by the Accounts Department.

8.0 Terms & Conditions:
8.1 The sanction order for the advance shall remain valid for a period of four months from the date of issue of the sanction order or the close of financial year whichever is earlier.

8.2 The employee should purchase the vehicle within a period not exceeding 30 days from the date of drawl of the advance, failing which the entire amount of advance alongwith the accrued interest thereon shall be refunded forthwith by him to the Company.

Provided, however, he may apply to the sanctioning authority for extension of the aforesaid time limit by a period not exceeding 30 days and the authority in deserving cases may grant such extension of time. The employee must complete the purchase of the vehicle within the extended period so allowed to him.

8.3 If the price paid for the vehicle is less than the amount of advance drawn, the excess amount shall be refunded to the Company within seven days of the purchase.

8.4 Immediately on the purchase of the vehicle and in no case later than 30 days from the date of purchase of the vehicle, the employee shall submit the Deed to the concerned Personnel Department, in the prescribed proforma on a non-judicial stamp paper of the requisite value hypothecating the vehicle in favor of the Company. In addition, he shall be required to submit to the concerned Personnel Department a stamped receipt from the vendor/seller for the amount paid for the vehicle, registration book as a token of evidence of the actual transfer of the ownership of the vehicle to the employee and a comprehensive insurance policy insuring the vehicle for an amount not less than the amount due to the Company, for verification and acceptance by the concerned Personnel Department.

8.5 The employees should keep the vehicle comprehensively insured and renew it from time to time for an amount not less than the amount due to the Company and till such time the advance with interest is repaid; and he should produce the receipts thereof annually or whenever called for to the concerned Personnel Department for verification. If at any time, the amount insured is less than the amount of outstanding advance plus interest, the employee shall be liable to refund the difference to the Company in not more than 3 monthly installments.

8.5.1 At the time of taking the above policy, the employee shall write a letter, in the prescribed proforma, to the Insurance Company notifying that the vehicle is hypothecated to the Company.

8.6 An employee desiring to sell or transfer ownership of the vehicle to another person during the period the vehicle is hypothecated to the Company, shall be required to obtain prior permission of the sanctioning authority.

8.6.1 If the employee does not wish to purchase another vehicle after sale of the existing one with prior permission, the balance amount due to the Company shall be refunded within seven days of the sale/ transfer.

8.6.2 If the employee wishes to purchase another vehicle with the sale proceeds of the previous vehicle, subject to the approval of the sanctioning authority, he may do so provided that the purchase is effected within 30 days of sale/transfer of the previous vehicle subject to the following conditions:

1. the price of the vehicle is not less than the amount outstanding and in the event of the price of the newly purchased vehicle being less than the sale proceeds of the previous vehicle, the balance amount shall be refunded to the Company within seven days.

2. the second vehicle is comprehensively insured and hypothecated in favour of the Company; and

3. the employee continues to repay the advance at the same rate as was being done earlier by him.

8.7 Notwithstanding anything contained hereinbefore, the employee shall be bound to comply with any supplementary rules/orders which may be made subsequently in this regard from time to time with a view to safeguarding the Company's interest as well as proper and faithful observance of the provisions of these rules.

8.8 Furnishing of false documents or breach of any of the terms and conditions stipulated in these rules and/or any other supplementary rules/orders will render the employee concerned liable to appropriate disciplinary action apart from his being called upon to refund to the Company forthwith the entire advance drawn by him together with accrued interest.

9.0 Interest:
9.1 An advance granted under these rules shall carry simple interest from the date of payment of the advance, the amount of interest being calculated on the balance outstanding on the last date of each month.

9.2 The rate of interest will be the rate, as in force on the date of sanction of advance, as per the notification issued from time to time. (Current rate of interest for car is 8.5% p.a. and for others 7.5% p.a.).

9.3 Notwithstanding anything contained above, failure of an employee to faithful observance of any of the terms and conditions attached to the advance sanctioned will make him liable to pay the interest at the bank lending interest rate.

10.0 Repayment:
10.1 The advance granted to an employee under these rules shall be repaid in full before superannuation/separation from service of the employee, by equal monthly installments, as indicated below.

10.1.1 In case of first advance granted for the purchase of a motor car, within a period not exceeding 12 years.

10.1.2 In case of subsequent advance granted for the purchase of a motor car, within a period not exceeding 9 years.

10.1.3 In case of advance granted for the purchase of a scooter/motorcycle, within a period not exceeding 6 years.

10.1.4 In case of advance granted for the purchase of a moped, within a period not exceeding 4 years.

10.2 The amount of advance to be recovered from the employee shall be fixed in whole rupees, except in the case of last installment when the remaining balance, including any fraction of a rupee shall be recovered.

10.3 Recoveries on account of interest will be effected only after the recovery of the principal amount.

10.4 The total amount of interest due shall be recovered in minimum number of monthly installments, the amounts of each such installment being not more than the amount of installment by which the principal amount was repaid. In case of loan granted for repayment of Principal plus interest to previous employer, the installment will not be less than what the employee has been paying to his parent organization.

10.5 Recovery of the advance granted under these rules shall commence from the salary/wages of the month following that in which the advance is drawn.

10.6 The deed of Hypothecation shall stand cancelled after the advance with interest is fully repaid to the Company and the same shall be returned to the employee duly endorsed to this effect on the Deed within a period not exceeding 30 days thereof.

11.0 Scope:
11.1 The provisions of this chapter shall regulate the cases relating to the grant of conveyance advance for purchase of bicycles by the eligible employees of the Company.

12.0 Eligibility:
12.1 The advance will be granted only to such employees as have completed at least one year's service in the regular establishment of the Company.

12.2 The advance will also be admissible to such employees borne on the regular establishment, as might not have completed one year's service in the regular establishment of the Company, subject to their furnishing a surety bond from one of the confirmed employees of the Company.

12.3 An employee will be eligible for the advance only if he has not drawn any advance from the Company for the purchase of a bicycle in the preceding 5 years from the date of making application for the advance.

12.4 The advance will not be sanctioned to an employee who is to leave the services of the Company within 24 months of the grant of advance either on superannuation or otherwise.

12.5 An employee during his suspension period shall not be eligible for the advance.

13.0 Amount:
13.1 The maximum amount of advance for the purchase of a bicycle to an employee shall be limited to the least of the following:

1. The anticipated price of the bicycle; or
2. Rs.l 000/-.

14.0 Procedure:
14.1 An employee, who satisfies the conditions of eligibility laid down herein, may apply, in the prescribed proforma, through proper channel, to the sanctioning authority. If the sanctioning authority is prima facie satisfied, he will accord his approval to the grant of conveyance advance, subject to verification and entitlement being certified by the Personnel Department; and thereafter he will send the application to the concerned Personnel Department.

14.2 On receipt of the application in the Personnel Department, the concerned dealing officer will scrutinize the application with reference to the eligibility conditions as provided herein and budget availability and will issue the sanction order in respect of such application as is found to be in order in all respect otherwise he will return the application to the concerned sanctioning authority, with his observations thereon.

15.0 Disbursement:
15.1 On receipt of the sanction order by the employee concerned, he will be required to execute an Agreement, in the prescribed proforma, on a non-judicial stamp paper of the requisite value. An employee, to whom the advance is granted by virtue of the provision of rule 12.2, shall also be required to submit a Surety Bond, in the prescribed proforma from a confirmed employee of the Company.

15.2 The liability of the surety will continue so long as the advance along with accrued interest thereon is not fully repaid to the Company.

15.3 The applicant shall also be required to get executed a Surety Bond from any substitute surety, wherever applicable, in the event of the surety employee's 1eaving the services of the Company before the full and final recovery of the advance granted (including interest).

15.4 On receipt of the Agreement and Surety Bond (wherever applicable) in the concerned Personnel Department, the dealing officer will scrutinize the documents. If the documents are found to be in order, a communication advising the concerned Accounts Department to release the amount to the concerned individual, will be issued whereupon the amount will be released by the Accounts Department. The documents so executed shall be retained in Personnel Department.

16.0 Terms & Conditions:
16.1 The sanction order for the advance shall remain valid for a period of 30 days from the date of issue of the sanction order or the close of financial year, whichever is earlier.

16.2 The employee should purchase the bicycle within a period not exceeding 30 days from the date of the drawl of the advance, failing which the entire amount of advance alongwith accrued interest thereon shall be refunded forthwith by him to the Company.

16.3 If the price paid for the vehicle is less than the amount of advance drawn, the excess amount shall be refunded to the Company within 7 days of the purchase.

16.4 Immediately on the purchase of the vehicle, the employee should submit to the Personnel Department the cash receipt in proof of having purchased the bicycle and any other evidence that may be called for by the dealing officer for his satisfaction.

16.5 The employee must retain the bicycle in his personal custody and shall not dispose of the same without prior permission, in writing, of the sanctioning authority. When the bicycle is so sold, the entire amount due to the Company shall be refunded within 7 days of the sale.

16.6 In addition to above, the provisions of rules 8.7 and 8.8 will also apply mutatis-mutandis to the advance so sanctioned.

17.0 Interest:
17.1 The provisions as contained in rule 9.0 will be applicable mutatis-mutandis.

18.0 Repayment:
18.1 The advance granted to an employee under these rules shall be repaid in full before superannuation/ separation from service of the employee in not more than 24 equal monthly installments.

18.2 The amount of advance to be recovered from the employee shall be fixed in whole rupees, except in the case of last installment when the remaining balance, including any fraction of a rupee shall be recovered.

18.3 Recovery on account of interest will be effected in one single installment after the recovery of the principal amount.

18.4 Recovery of the advance granted under these rules shall commence from the salary/wages of the month following that in which the advance is drawn.

18.5 On the recovery of the advance and the interest accrued thereon, in full, the Agreement and Surety Bond (wherever applicable) shall be returned to the employee duly endorsed to this effect within a period not exceeding 30 days thereof.

19.0 General:
19.1 These rules are framed entirely as a welfare measure and do not confer any right or benefit on the employees nor impose any obligation or liability, whatsoever, on the Company and shall not be deemed to be any contract or condition of service between the Company and any such employee.

19.2 The grant of advance under these rules shall always be subject to availability of funds and at the sole discretion of the Management.

19.3 The power to interpret and administer the rules shall rest with the Director (personnel)/Chairman of the Company whose decision shall be final and binding. The Director (personnel)/Chairman are also empowered to make any supplementary rules/orders to regulate the frequency/periodicity of the grant of advance to an individual employee, in case so necessitated due to receipt of a comparatively larger number of applications.

19.4 The Company reserves the right to modify, cancel, add or amend any of these rules.

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