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Members at SIMA
Eligibility
Companies, Partnership firms, Co-operative Societies, Corporations, Public Sector Undertakings, Sole Proprietorships, Textile parks/SPVs etc., connected to Textile business in any form having an installed capacity of not less than 6000 spindles or having an annual turnover of Rs.10 crore or more during the immediately preceding financial year are eligible to become member of the Association.
Admission Fee & Annual Subscription
| Rule 48 | (a) | The admission fee shall be one year annual subscription of the member to be admitted. |
| (b) | Every member shall be liable to pay an annual subscription to the association equivalent to 0.01% of the turnover (excluding taxes and levies) as per the latest annual accounts of the previous accounting year of the member subject to a minimum of Rs. 15,000 and a maximum of Rs. 1,50,000 | |
| (c) | In the case of a new establishment becoming member, the annual subscription shall be the minimum for the first year and thereafter as per the annual turnover. In addition to the above, a new membershall be liable to pay an admission fee at the time of admission as a member, a sum equivalent to the annual subscription as stipulated above. | |
| (d) | In the case of a group as defined in Rule 47(b), the subscription payable shall be 0.01 % of the aggregate turnover of all the legal entities forming the group, subject to a minimum of Rs. 15,000 and a maximum of Rs. 1,50,000. | |
| Rule 47 | (b) | One or more legal entities will be considered as a single group, if any one of the following conditions are satisfied:- |
| (1) | If at least one third of the Directors of one or more bodies corporate or one third of the partners of one or more partnership firms are common. If the one third figure is a fraction, this will be rounded off to the nearest integer. | |
| (2) | If the Managing Director or Managing Partner is common. | |
| (3) | If one body corporate is a subsidiary of another body corporate. | |
| (4) | In the case of one or more proprietary firms, if the proprietor is common. |
