State Act
22
Section 22. Power of Corporation to borrow.
The Maharashtra Horticulture Development Corporation Act 1984
Act no. 25 of 19881988In forceMaharashtra (State Act)
22. (1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money from the financial institutions or in the open market by issue of guaranteed or unguaranteed bonds, debentures, stocks or otherwise, for the purpose of providing itself with adequate resources. (2) The maximum amount which the Corporation may at any time have on loan under sub-section (1) shall not be exceeding rupees ten crores, unless the State Government fixes a higher maximum amount for this purpose.