CGEWHO Rules

CGEWHO Rules

CENTRAL GOVERNMENT EMPLOYEES WELFARE HOUSING ORGANISATION Rules

PREAMBLE

1. The Central Government Employees Welfare Housing Organisation is a 'Society' established to promote, control and coordinate the development of housing schemes at selected places, all over India, on no profit-no loss basis as a welfare measure. The Society is a registered body under the Societies Registration Act of 1860.
2. Its aim is to provide welfare housing service of quality to the Central Government employees.
3. The rules have been drawn up to give the Central Government employees, serving and retired, a perception of the task and an understanding of the Organisation's commitment to them and their own obligations in this matter. Such a brochure cannot be all comprehensive. Applicants may, therefore, contact the organisation's Head Office in New Delhi for clarifications.

DEFINITIONS

1. General Body' means the list of Members given under Para 6 of the Memorandum of Association.
2. 'Governing Council' means the list of members given under Para 5 of the Memorandum of Association.
3. 'CGEWHO' means the Central Government Employees Welfare Housing Organisation.
4. 'Scheme' means the self-financed housing project announced by the CGEWHO.
5. 'Dwelling Unit' means a single storey/ duplex type/ flat type of housing unit constructed in independent group housing or multistoreyed construction or marked plots.
6. 'Beneficiary' means an eligible applicant whose booking for a dwelling unit has been confirmed by the CGEWHO.
7. For the purpose of CGEWHO, a Central Government employee is an inpidual who is appointed by or on behalf of the President of India and whose pension both charged and voted, is debitable to the Consolidated Funds of India, including the All India Services officials. However, employees of "States" and "Union Territory Administrations" are not included. Further, such Central Govt. employees as are eligible under similar organisations like AWHO, AFNHB, IRWO are also not included,

ELIGIBILITY:

PRIORITY - I

1. Central Government Employees: Serving or retired Central Govt employees who are covered by the above definition will be eligible.
2. Spouses of the deceased employees: Spouses of the deceased Central Government employees or deceased retired employees would be eligible, if the deceased employees would have qualified by criteria 3 (i) above.
3. Employees of the CGEWHO, with a minimum of one year of service, will be eligible.

PRIORITY - II
Serving Employees of Central PSUs, State Govts., Union Territory Administration, Autonomous Bodies, Corporation, Nationalised Banks etc. Serving Uniformed employees of the Ministry of Defence and serving employees of Ministry of Railways.

PRIORITY - III
General Public, including retired/ spouses of deceased employees of Priority-II.

SPECIAL ELIGIBILITY CRITERIA

1. Where both husband and wife are eligible, only one of them can apply.
2. Employees, serving or retired, owning residential property, in his/her, or in the name of his/her spouse in the city/town, where the CGEWHO is planning a Scheme, will not be eligible for that Scheme. For this purpose, urban agglomerates contiguous to the city of the scheme (e.g. Delhi, NOIDA, Greater NOIDA, Gurgaon, Faridabad) will be considered as one city / town / location
3. Employees will be entitled to only one dwelling unit under CGEWHO Schemes anywhere in the country.
4. An employee who has been dismissed from the service, would cease to be a beneficiary of the Scheme and will not be eligible to apply.
5. Eligibility and other conditions attached to the allotment of land by the Municipal and Local Development Authorities, as applicable to such Scheme, would prevail.
6. The terms and conditions, as imposed by the Land Alloting Agency/Plans Approving Authority, in respect of cost, FAR, Bye-laws, eligibility etc, shall prevail and be binding on the beneficiary of the CGEWHO.

HOUSING CONCEPT

Subject to availability of land, dwelling units and garages in single units, multiple units, row housing, multi-storeyed building, group-housing or marked plots may be planned, subject to the approval of the local civic authorities. These plans will be announced as Scheme, as applicable.

TYPE OF HOUSES

The CGEWHO may build houses or flats of the following types: One bed-room units - Type A/L Two bed-rooms units - Type B/M Three bed-rooms units - Type C/N and Four bedroom units in Type D. These may be built with or without scooter/car garages/stilts. The design, the layout and the built-up area in each type may vary from place to place. More types may be added with consequent change in Rule 7.

OPTION TO APPLY FOR TYPE OF UNIT

The applicant may apply for any one of the above types of units linked with the Group to which he/she belongs, as under:

Type of dwelling unit / flat	Group of Service	Grade Pay	Pay Band
A or L (A type in highrise)	D, C, B & A	Rs. 1300 and above	1S onwards
B or M (B type in highrise)	C, B & A	Rs. 1800 and above	PB-1 onwards
C or N (C type in highrise)	B & A	Rs. 4200 and above	PB-2 onwards
D	A	Rs. 5400 and above	PB-3 onwards

Notes:

1. Change of dwelling unit from one type to another type, provided otherwise eligible as per this para, can be entertained subject to payment of additional Application Fee and Earnest Money, as applicable, and availability of vacancies in that particular type of dwelling unit. However, change to a lower type of category will not entitle the applicant for refund of differential Application Fee but will entitle him for refund/appropriate adjustment of the differential Earnest Money paid.
2. Change from one scheme to another scheme is not permitted. For doing so, an applicant should first withdraw /undertake to withdraw his allotment from the existing scheme and apply afresh in the new scheme, if he so desires (subject to payment of cancellation charges, as per rules).
3. Request for change of DU from one type to another, within the same scheme, or change from one scheme to another, after physical possession of the originally allotted DU has been taken, are liable to be rejected. Further, in case the change as mentioned at subparas (i) & (ii) above have been agreed to and implemented, it will be construed that the applicant had joined the revised type of DU/ scheme from the very inception and all the payments received/ yet to be received will be treated, accordingly. CGEWHO's decision in this regard shall be final and the beneficiary will not have any claim whatsoever.
4. In case an existing beneficiary of the CGEWHO under any other scheme, wishes to apply for the present Meerut (Phase I) Housing Scheme, he may do so by paying the Application Fee only and clearly stating in the 'Affidavit' the facts regarding his earlier registeration with the CGEWHO. In the event of confirmed allotment under Meerut (Phase I) Housing Scheme, the concerned beneficiary will have to surrender either of the two registerations. In case of surrender of original allotment, withdrawal charges shall be deducted, if applicable, as per the rules and remaining amounts transferred under the Meerut (Phase I) Housing Scheme. Failure to state the facts in the application may invite cancellation of both the applications/ allotments.

PLANS AND SPECIFICATIONS

Plans and specifications will be drawn up for each type of dwelling unit to meet the basic needs of the group and conforming to the bye-laws of the civic authorities. Different specifications may be considered for each type of dwelling unit.

TECHNICAL BROCHURE

After approval of the plans by the local statutory authorities, the plans of dwelling units and layout and the major specifications will be published in a Technical Brochure and circulated to all the beneficiaries. These, however, are subject to change prior to or during execution, at the discretion of the CGEWHO. CGEWHO undertakes construction of the housing projects as per approved plans and beneficiaries shall have no right to claim any changes or challenge the methods or procedures adopted during the construction.

STATIONS

Major building efforts of the CGEWHO will be concentrated in areas where there is concentration of Central Government employees. Other places may be added depending on availability of land and the likely demand.

MASTER PLAN

A Master Plan of projects drawn up for a period of 5 years at a time will be promulgated for the benefit of all Central Government employees. Revised Schedule will be announced as and when the Master Plan is rolled through CGEWHO's newsletter.

HOW TO APPLY

1. The CGEWHO will announce the Scheme, giving location, station, types, covered areas and approximate cost of each unit for inviting applications.
2. An employee who is eligible to become a beneficiary, may purchase the CGEWHO Rules/ Scheme Brochure along with Application Form from the nominated office/Head Office, on payment of Rs. 100/- in cash or through a bank draft drawn in favour of 'CEO, CGEWHO' payable at New Delhi.
3. On receipt of the Application Form and the 'CGEWHO Rules', the applicant should fill the Form and return the same to the CGEWHO by the specified time, alongwith :
   1. Bank draft for refundable Earnest Money, as under :
      

      Type of DU / Flat	Non-Refundable Application fees	Refundable Earnest Money Deposit (EMD)	Total Amt. ( in Rs.)
      A	500	50,000	50,500
      B	500	50,000	50,500
      C	1,000	1,00,000	1,01,000
      D	1,000	1,00,000	1,01,000

      Note: Rs. 100/- to be added towards cost of 'CGEWHO Rules Brochure' with above amount, in case, applicant is using downloaded application form.
   2. Affidavit as per the format prescribed in the CGEWHO Rules Book.
   3. Pay slip or copy of PPO duly attested. No interest will be payable on Earnest Money deposited alongwith the application for the first three months calculated from the day following the closing date of scheme, including extension, if any. Thereafter, beyond three months a simple interest @ 5% per annum will be payable to unsuccessful allottess till the date of refund. On allotment, the Earnest Money paid (alongwith the application) shall be deemed to be a part of the instalment(s) and the beneficiary will be treated as if he had made part payment of the first instalment.

REGISTRATION OF APPLICATIONS

On scrutiny of the Application Form, the applicants will be registered for a dwelling unit in the Scheme.

RESERVATION FOR SC/ST APPLICANTS

15% & 7.5% of the DUs of all the types in all the housing schemes of CGEWHO will be reserved for SC & ST applicants respectively, with a stipulation that there will be a minimum of one DU of each type in the reserved category and fractions, if any, will be rounded off to the nearest full number. The procedure adopted in such allotments shall be as under;

1. In case of more number of applicants belonging to SC/ST categories, after first conducting the draw for the reserved categories alone, unsuccessful applicants shall be considered in the draw for general category of applicants. Those who will succeed in the general draw will get a confirmed allotment, and the remaining applicants, if any, shall be placed on the general waiting list as well as the one created especially for the reserved category of applicants. However, in case of less number of applications than the number of DUs reserved, the balance DUs (after giving confirmed allotment to the applicants belonging to the reserved category) shall automatically stand de- reserved, and will be considered in the general draw.
2. The applicants desirous of being considered in the 'Reserved' category, will be required to submit an attested photocopy of the 'Caste' Certificate from the appropriate authority.
3. These 'Reservations' will be applicable to 'Priority I' applicants only.

CONFIRMATION OF BOOKING

If the registered applicants for a given project exceed the number of dwelling units, computerised draw will be held at the Head Office separately for each type. Successful applicants will be given 'confirmation of booking' by an Allotment letter.

COST OF DWELLING UNITS

The cost of dwelling units, with or without garages, for each Scheme will be worked out by the CGEWHO and intimated at the time of announcing the Scheme. The cost will, interalia, include interest on investment in land purchased for a scheme, common amenities, cost of reserve funds, charges towards registration of land etc. The costs will be reviewed at different stages of construction and will be subject to escalation, on account of market prices, labour wages, Cooperative Society/Apartments Owners' Association's charges,essential alterations, additions etc. All revisions of cost will be charged to the beneficiaries and they will be liable to pay the same.

PAYMENT SCHEDULES

Beneficiaries will be required to pay instalments on the self- financing basis. The payments will be on call. Please also see para 7 of Part 'A' of this Brochure.

LATE PAYMENTS

Beneficiaries who join a Scheme, or are promoted from the waiting list, after the initial enrollment or are late in paying their instalments, will be charged interest from the respective dates of instalments towards equalisation charges. The rate of interest on these payments will be 15% per annum. This rate of interest is subject to change. The CGEWHO reserves its right to terminate the registration and cancel the allotment without giving any further notice, in case of default in making the scheduled payment beyond 120 days from the last date of payment.
NOTE: Once an allotment has been cancelled, for any reason whatsoever, it can not be revived under any circumstances. However, in extreme cases, the Competent Authority may agree to re-activate the allotment provided the request is accompanied by requisite outstanding payments.

CHANGES IN PAYMENT SCHEDULES

The CGEWHO will make every effort to indicate the prices of the dwelling units as accurately as possible but the costs may vary. Adjustments in payments and schedules may become necessary, commensurate with the progress of construction. Beneficiaries will be intimated of the changes as they occur.

MODE OF PAYMENT

All payments will be made by Demand Draft / Pay Order only on any Scheduled Bank payable at New Delhi, drawn in favour of the CGEWHO A/c 0267101018816 Canara Bank duly endorsed 'payee A/c only'. Payments in cash or cheque will not be accepted.

PAYMENT OF INTEREST

1. No interest will be payable by the CGEWHO to the beneficiaries on any instalment paid after the confirmation of booking. Beneficiaries, to whom confirmed allotment has been made, shall also not be entitled to any interest on installments paid, in the event of cancellation/ withdrawal.
2. No interest will be payable by the CGEWHO on the Application Fee, which is non-refundable.

REBATE

If a beneficiary pays the total cost of dwelling unit within 45 days of the confirmation of booking, a rebate of 2.5% will be given. However, this or any other rebate is not applicable for making any advance payment of the tentative cost of the dwelling unit. Further, this rebate is available to the applicants receiving allotment, on announcement of the scheme. Applicants joining the scheme, during its operation, subject to availability and offering to make early payments will not be entitled to this rebate.
LOAN ARRANGEMENTS

1. Beneficiaries who are still in Central Government employment may be entitled to House Building Advance as admissible to Central Government employees in accordance with the rules of the Government of India.
2. The CGEWHO will liaise with Nationalised Banks, Housing Development Financial Corporation and other financial institutions and endeavour to secure financial assistance by way of loans. Subject to agreement of the institutions, loans on second mortgage may be possible. However, the receipt of loan cannot be guaranteed. The quantum of these loans will, interalia, depend on the repaying capacity of the beneficiary.

ALLOTMENT OF SPECIFIC UNIT

The allotment of block, floor, specific dwelling unit will be made by a computerised draw of lots at the Head Office towards the end of the project and the results be intimated to each beneficiary. Allotments of a specific flat/ floor, as a result of the draw, shall be final and no requests for change shall be entertained.

RESERVATIONS

1. Reservation will be made upto 3% of ground/lowest floor flats in each scheme for handicapped personnel in the CGEWHO's Housing Schemes.
2. Personnel with the following disabilities will be eligible for such reservations:
   1. Orthopaedically handicapped - severe (75% and above)
   2. Visually handicapped - severe (75% and above)
   3. Mental illness - severe (75% and above)
3. Availability of the above facility is restricted only to the allottee, his/her spouse and children only.
4. Percentage of disability would be certified by the Head of Deptt. of a Government Hospital.

WITHDRAWAL FROM A SCHEME:

If a beneficiary wishes to withdraw from a scheme, he should submit a written request to the CGEWHO, alongwith the following documents.

1. 1. Letter of allotment in original (if issued)
   2. Original receipt(s) issued by this office against the payment(s) made by the beneficiary
   3. Pre-receipt as per proforma placed at Annexure II.

Allottees withdrawing from a Scheme will not be refunded their application fee, nor will they be entitled to any interest payment, No interest is paid to confirmed allottees. Allottees withdrawing after the date of commencement of construction, will be required to pay withdrawal charges @ 15% of the first instalment. Allottees withdrawing after allotment of specific floor/flats will be required to pay withdrawal charges @ 20% of the first instalment. Such refund will be made within 45 days of the receipt of the request for withdrawal alongwith all required documents.

CANCELLATION CHARGES

In addition to the Application Fee, 15% /20% of the first instalment will be levied as cancellation charges in case cancellation or withdrawal is sought after the commencement of construction/allotment of specific unit. These charges will also be levied on beneficiaries whose booking has been cancelled by the CGEWHO for want of timely payment or any other reason whatsoever.

POSSESSION

The beneficiary will be given a notice of two months to take the allotted unit, provided he/she has completed all formalities, paid all the dues, executed all the Deeds and obtained a Clearance Certificate from the CGEWHO.

DELAY IN TAKING OVER

The allotment of an inpidual who fails to take possession of the dwelling unit for three months after expiry of the notice period (inspite of making payment of following overhead charges per month or part thereof), shall be liable to be cancelled by the CEO, CGEWHO. Under special circumstances, such an allottee may approach the Chief Executive Officer, CGEWHO for an extension of this period which may be granted by the CEO as a special case for another maximum period of three months only.
Rs. 500 p.m. for Type A/L
Rs. 1500 p.m. for Type B/M
Rs. 2000 p.m. for Type C/N
Rs. 3000 p.m. for Type D
In the event of a beneficiary failing to take physical possession of the flat within 12 months of issue of the final call up letter, inspite of having paid the maintenance charges as above, the possession shall be given from the CGEWHO's Head Office only, and not from the site office, on 'as is-where is' basis. Further, in such a case any request for repairs, defect rectification etc will not be entertained. The beneficiary, who takes possession late will, however, be obliged to pay to the concerned Apartment Owners Association/ Society, the monthly up-keep & maintenance charges, as levied by it w.e.f. the date made applicable by the AOA or the date of allotment, whichever is earlier.

HANDING OVER

The dwelling units will be offered on 'as-is-where-is' basis after the Contractor and Architect have certified their completion. However, defects and deficiencies observed by the beneficiaries at the time of handing over/taking over, may be recorded in the documents. These will be examined and rectified, wherever applicable, in the defect liability period.

MUTUAL EXCHANGE OF DWELLING UNITS

Mutual exchange of type of DUs, during the currency of the scheme, or specific floor/ flat, after the draw has been conducted, may be permitted within the same scheme, or schemes managed by the same AOA/ Society subject to the two beneficiaries giving an undertaking to effect all the future payments, as called, and not to seek withdrawal from the scheme. However, in extreme situations, the Chief Executive Officer, may agree to accept withdrawal from the scheme, subject to payment of double the normal 'withdrawal charges' i.e. 30% / 40% of the 1st instalment (para 25 of the CGEWHO Rule refers).

COOPERATIVE SOCIETY/APARTMENT OWNERSHIP ASSOCIATION

Beneficiaries of each Scheme would form a Cooperative Society/Apartment Ownership Association under local laws governing such bodies. Every beneficiary will pay the Membership Fee for the Society/Association. In addition, a sum equal to 1.5% of the final cost of the dwelling unit will be charged from each beneficiary and credited to the account of his Society/Association, for its running expenses. The Society/Association, will administer the colony, look after its maintenance, attend to common property and provide guidelines for civic standards. The Society/Association will be governed by its byelaws.

PROCEDURE & OBLIGATIONS

1. Coinciding with or after issue of the final call up notice, the CGEWHO will hold a General Body meeting of all the beneficiaries to elect the office-bearers of the proposed Apartment Owners' Association.
2. Such elected adhoc Committee, of the proposed Apartment Owners Association, will aim at formally constituting the Association, including framing of its by-laws under the local laws governing such bodies, and register the same with the appropriate competent authorities.
3. On completing the formalities regarding registration of the Association, the ad-hoc Committee would be required to convene a General Body meeting of all the beneficiaries to elect and constitute a regular Executive Committee.
4. The duly elected adhoc Committee will take over all the common areas/services/facilities of the project within 6 months of its constitution - a period during which CGEWHO will maintain the residential complex and debit the actual maintenance expenses so incurred to the Apartment Owners' Association account.
5. In case the adhoc/regular Committee fails to take over the common services/facilities/areas within a further period of 4 months, the CGEWHO shall be at liberty to wind up its operations at site, including demobilising its man power, leaving the complex in 'as is-where is' condition, at the discretion of the Chief Executive Officer, CGEWHO. However, during these 4 months period, though the CGEWHO shall maintain the complex at the cost of Apartment Owners' Association, it will charge an additional amount of Rs. 150/- per beneficiary per month for the services so provided which will be over and above the actual cost of maintenance and debit the same to the Apartment Owners' Association account, before handing over the balance of amount to it. (f) While some amounts will be transferred to the ad-hoc Committee by the CGEWHO, for meeting day to day expenses, bulk of the AOA charges collected will be transferred to the regular Executive Committee only, on a formal request by the President/Secretary, but after taking over all the common areas/services/facilities of the project. However, no interest would be paid by the CGEWHO to the AOA, on the amounts collected from the beneficiaries towards AOA charges.

ADDITIONS & ALTERATIONS

An undertaking covering the following aspects will be given by all the beneficiaries:

1. Abide by the laws, bye-laws, rules and regulations of the Central or State Governments, the Civic bodies, the CGEWHO and the Cooperative Society/Apartment Ownership Association.
2. Shall not sub-pide, extend, amalgamate, or carry out structural design or layout changes to the dwelling unit and garages without the prior permission in writing of the Civic Authority.
3. The dwelling units and garages/stilts would be used for the sole purpose of living and car/scooter parking. Any commercial exploitation of these would be deemed to be a violation of terms and conditions.
4. Facilities like stair-cases, passages, terraces, parks, lifts etc and common spaces and services, will be utilised by the beneficiary, alongwith other beneficiaries of the Scheme and no one will have exclusive right to their usage, nor make any alterations thereto.

OWNERSHIP

At the time of execution of Transfer Deed in favour of a beneficiary, he/she will have the option to register the dwelling unit in his/her own name, or jointly register it with one or two relations out of the undermentioned:

1. Wife/Husband
2. Son/sons, daughter/ daughters, including legally adopted children
3. Parents (in case of unmarried @ widows without children)
4. Brother/Sister (in case of unmarried @ widows without children)

SUCCESSION

In the event of the death of the beneficiary before the dwelling unit is taken over, his/her spouse or dependent children, whoever has been shown as the nominee in the Application, will be eligible to continue in the Scheme and to avail of the benefits under the Scheme. In case of unmarried members, these privileges will be extended to the dependent parents only. However, such changes in CGEWHO's records shall be made subject to the nominee fullfilling certain criteria and submitting requisite set of documents.

TRANSFER

The beneficiaries will not be permitted to dispose off the dwelling unit by way of Sale/Transfer/Assignment/ Long Lease/ by execution of Power of Attorney, under any circumstances, before transfer of the legal title of the dwelling unit by the CGEWHO in favour of the beneficiary. Any such transfer shall result in cancellation of allotment of the dwelling unit, in which case the allottee will pay penalty, as prescribed under the heading 'Cancellation Charges.' After transfer of the legal title of the dwellng unit in favour of the beneficiary, he/she may dispose off his/her dwelling unit, with prior permission of the concerned 'Kendriya Vihar Apartment Owners Association/ Society'. as per its byelaws.

LIABILITY OF THE CGEWHO

1. In extreme situations beyond the control of CGEWHO, CGEWHO may be obliged to abandon a Scheme. In such a case, its liability would be to refund the deposits in full, with interest, in accordance with the Rules, less handling charges of 1% and Application Fee.
2. The CGEWHO is only providing a service. It can in no way be held responsible for any claims of damages which may arise due to any reason whatsoever, including any commission or ommission, by the CGEWHO or its employees.

AMENDMENTS TO THE RULES OF THE ORGANISATION

The General Body is empowered to amend, alter or delete any of the Rules, as well as the Memorandum of Association.

ACCEPTANCE OF APPLICATION

The Chief Executive Officer, CGEWHO has the right of final acceptance of an application, its registration, booking and allotment of the dwelling unit and garages/stilts.

ARBITRATION

1. All matters of disputes relating to CGEWHO Rules, which are likely to affect the rights of the beneficiaries, vis-a-vis, the CGEWHO, may be referred to the President of the Governing Council. The President shall appoint Arbitrator to adjudicate in the matter, whose decision shall be final and binding on the beneficiary and the CGEWHO. Request for arbitration of a dispute will be entertained only if it is made within two months of the cause of the action and prior to taking possession of the house. Possession will not be given till the arbitration proceedings are complete.
2. Appointment of an Arbitrator will not be objected to on the ground that he/she is a person subordinate to the President, is a member of the Governing Council or the Executive Committee, is associated with the functioning of the CGEWHO, or is a beneficiary of a Scheme.
3. President of the Governing Council shall have the privilege and authority to appoint a new successor to the Arbitrator after his demitting the office of Arbitrator on account of the transfer, resignation, retirement, death or any such eventuality, whereby the adjudicating Arbitrator is incapacitated to adjudicate the dispute between the parties.
4. All suits and legal proceedings of any kind against CGEWHO shall be instituted only in the appropriate courts in Delhi, notwithstanding the location of the property, which may be subject matter of the dispute. All the arbitration proceedings/hearings shall be held in Delhi only.

MISREPRESENTATION OR SUPPRESSION OF FACTS

If it is found, at any time that an applicant has given false information or suppressed certain material facts, or has transferred the rights of the dwelling unit in any manner whatsoever, his/ her application will be rejected, and the registration/booking of dwelling unit will be cancelled without making any reference to the applicant. He/ she will also be debarred from participating in future schemes. In such cases, allottees will pay penalty as prescribed under the heading "Cancellation Charges".

OTHER SALIENT FEATURES REGARDING LOANS FROM FINANCIAL INSTITUTIONS

1. The period of loan varies from 5 to 20 years. Repayment will, generally not extend beyond retirement.
2. Co-borrowers: Earning members of a family like wife, son, daughter, father and mother can join as co- borrowers for increasing the amount of loan.
3. The admissibility of loan is dependent on the repaying capacity of the borrowers and the co-borrowers opted by the beneficiary.
4. Loan is generally disbursed only after applicant has invested his own share in full.