The Corporation may borrow money and mortgage or charge its undertaking and property (including its revenues) or any part therof and issue debentures, debenture stock, notes and other securities whether outright or as security for any debt, liability or obligation of the Corporation or of any third party provided that the aggregate amount for the time being remaining undischarged of money borrowed or secured as aforesaid by the Corporation exclusive of the temporary loans as aforesaid, shall not at any time without the previous consent of the Central Government exceed the sum of Rs. 5,00,000/-.
Section 16: Limit on borrowing without previous consent of Government
In exercise of the powers conferred by clauses (a), (b),(c),(d),(e),(f),(g), (h) and (i) of sub-section (2), of section 50 of the Goa, Dama…State Rules of Goa · 1965
Where this provision sits
| Act | In exercise of the powers conferred by clauses (a), (b),(c),(d),(e),(f),(g), (h) and (i) of sub-section (2), of section 50 of the Goa, Daman and Diu Industrial Development Act, 1965, (Act No.22 of 19… |
|---|---|
| Section | 16 |
| Marginal note | Limit on borrowing without previous consent of Government |
| Jurisdiction | State of Goa |
| Status | In force as published by the source |
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