The object of the Sugar Development Fund, 1982 (briefly the SDF Act) in the formation of the Sugar Development Fund to be applied for the purpose of rendering financial assistance through loans at concessional rates for rehabilitation and modernisation of sugar factories as well as for sugarcane development and for encouraging research aimed at development of sugar industry by making grant. The Fund shall also be applied for defraying expenditure for the purpose of building up and maintenance of buffer stock of sugar with a view to stabilising prices of sugar.