How much time is normally taken to release the payment once the bill with all documents in order, is received in TMC section?
Normally about one month, provided all items of the approved project are executed as per TMC norms and is certified by Technical Appraisal Team (TAT) in its final inspection report. The machinery items must have been purchased from approved suppliers of TMC and the same must have been purchased after the date of receipt of application in TMC Section for approval of project and before its completion. Further it is subject to submission of all the required documents, along with their claim file such as Insurance Policy, Test Report, Receipt of training fees paid, MOU & Acceptance letter, Chartered Accountant and Engineer’s certificate, Layout plan, photographs etc. Further, the payment is released subject to availability of funds with TMC.
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