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Section 31: Power of Corporation to borrow

The Goa Tillari Irrigation Development Corporation Act, 1999State Act of Goa · Act 6 of 1999

(1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money from the financial institutions or nonresident 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.

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(2) The maximum amount which the Corporation may at any time have on loan under sub-section (1) shall not exceed Rupees 90 crores, unless the State Government fixes a higher maximum limit for this purpose.

Where this provision sits

ActThe Goa Tillari Irrigation Development Corporation Act, 1999
Section31
Marginal notePower of Corporation to borrow
JurisdictionState of Goa
StatusIn force as published by the source

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