State Act
33
Section 33. Power of Corporation to borrow.
The Vidarbha Irrigation Development Corporation Act, 1997
Act no. XXVI of 19971997In forceMaharashtra (State Act)
33. Power of Corporation to borrow.— (1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money from the financial institutions or non-resident Indians or from the open market by issue of guaranteed or un-guaranteed bonds, debentures, stocks, cash certificates, fixed deposit receipts and 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 exceed rupees one thousand crores, unless the State Government fixes a higher maximum limit for this purpose.