1) The applicant can avail benefit of this scheme if he/she is owner/partner/family run business owner of a company/Cooperative Society society, 2) The applicant will have to enter in to agreement with the fishery department for 10 yea duration, 3) The company/Cooperative Society should follow the rules and regulations as per government norms (such as Company Act/Charitable trust act etc), 4) This scheme is only for purchase of new equipment (not for second hand or re-used equipment), 5) The procurement and commissioning of the equipment should be completed within 2 financial years