RT-612: LOANS AND ADVANCES - Motor Car Advance to Sri L. Lakshmi Narayana, Deputy Draftsman to Government (Telugu), Law Department - Sanctioned - Orders - Issued.

GOVERNMENT OF ANDHRA PRADESH ABSTRACT LOANS AND ADVANCES - Motor Car Advance to Sri L. Lakshmi Narayana, Deputy Draftsman to Government (Telugu), Law Department - Sanctioned - Orders - Issued. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LAW (M.II) DEPARTMENT G.O.Rt.No. 612 . Dated:31.03.2012. Read the following: 1. G.O.Ms.No.175, Finance (A&L) Dept., dated:15.05.2010. 2. From Sri L. Lakshmi Narayana, Deputy Draftsman to Government (Telugu), Law Department Application, dated:14.03.2012. 3) G.O.Rt.No.1254, Finance (A&L) Dept., dated:29.03.2012. -o0o- O R D E R: Under article 230 of Andhra Pradesh Financial Code, Volume-I, government hereby sanctions an advance of Rs.4,50,000/- (Rupees Four lakhs and fifty thousand only) for first time for purchase of a Motor car to Sri L. Lakshmi Narayana, Deputy Draftsman to Government (Telugu), Law Department, subject to the following conditions:- (i) that he shall draw the advance before 31st March, 2012. (ii) that he should pay finally for and take delivery of the Car within one month from the date of drawing the advance. Otherwise he should repay to the Government at once the full amount of the advance drawn with interest on it for one month. (iii) that he should execute a bond in Form 14 of the Andhra Pradesh Financial Code, Volume-I, hypothecating the Car to the Government as the security for the advance and submit documents within fortnight from the date of purchase of the vehicle. (iv) that he shall keep the Car insured against loss or damage by fire, theft or accident. He should effect the necessary insurance from the date of purchase of the car, failing which he should refund the whole of the advance with the interest that has accrued on it. (v) that the amount for which the car is insured during any period, should not be less than the outstanding balance of the advance with the interest that has accrued at the beginning of that period, and due is completely repaid. 2. If the actual price for the Motor Car is less than the advance taken the balance should be refunded to the Government immediately. 3. The insurance policy should be forwarded to the Pay and Accounts Officer for perusal together with a letter in Form 15 of the Andhra Pradesh Financial Code, Volume-I, addressed to the Insurance Company with which the Motor Car is insured informing them that the Government are interested in the policy secured. 4. The advance will be recovered in 40 (Forty) installments @ Rs.11,250/- per month commencing from the month following the month in which the advance is drawn. Interest at the rate of 5 ½ per cent per annum will be charged on the advance taken and will be recovered in 20 installments. Contd..:: 2 :: 5. The advance sanctioned in para (1) above will be drawn from the Budget provision allotted to the Law Department vide G.O. 3rd read above and debited to the head "7610 - Loans to Government Servants - M.H.202 - S.H (O4) - Loans for purchase of Motor Cars". 6. The Law (Claims) Department are requested to draw and credit the amount to the Bank Account number of the officer. (BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH) R. DAMODAR, Secretary to Government, Legal Affairs To Sri L. Lakshmi Narayana, Deputy Draftsman to Government (Telugu), Law Department. Copy to: The Dy. P.A.O., Secretariat Branch, Hyderabad. ,, : The Accountant General, Andhra Pradesh, Hyderabad. ,, : Law (Claims) Department (2 Copies). ,, : The P.S. to Secretary, Legal Affairs. ,, : S/f and S/c. //Forwarded:: By Order// SECTION OFFICER