No recipient of State-aid shall pay any dividend or distribute or take any profits in excess of such percentage of the capital of the industry as the State Government may, from time to time, fix until the conditions on which State-aid has been granted are fulfilled. The balance of the profits after necessary amounts have been set aside for depreciation or obsolescence of plant, machinery and buildings and for the payment of interest on debentures or loans, shall be carried to a reserve fund to be utilised in such manner as the State Government may approve :



Provided that the State Government may relax the provisions of this section in the case of any industry aided by the grant on favourable terms, of loan or raw materials, fuel, water or any other property or right of the State Government or the grant, free of charge or on favorable terms, of services of experts or person in the service of the State Government or by the payment of a subsidy for the conduct of research.