State Act
Section 106. Power to borrow from Central or State Government or other persons.
The Mumbai Municipal Corporation Act.
2[106. Power to borrow from Central or 3[State] Government or other persons.— The corporation may from time to time borrow or re-borrow and take up at interest from 4[the Central or the 5[State] Government] or with the sanction of the 6[7[State] Government], from any other person, any sum necessary for the purpose of— (a) defraying any costs, charges or expenses incurred or to be incurred by them in the execution of this Act, (b) discharging any loan contracted under this Act or any other loan or debt for the repayment of which they are liable, (c) making good any deficit in budget estimate “B” framed under section 126, (d) generally, carrying out the purposes of this Act including the advance of loans under section 354W. 8[* * * * *]