The Corporation may, for the purpose of meeting any current expenditure properly chargeable to revenue, borrow by way of temporary loan or overdraft from any bank or otherwise such sums as it may require, on such terms and conditions as the Corporation thinks fit. The amount so borrowed, together with the interest thereon, shall be repaid from current revenues within a period of twelve months from the day of the temporary borrowing, or such extended period as the Government may allow.
Section 15: Temporary borrowing by the Corporation
Gujarat Industrial Development Rules 1963State Rules of Gujarat · 1962
Where this provision sits
| Act | Gujarat Industrial Development Rules 1963 |
|---|---|
| Section | 15 |
| Marginal note | Temporary borrowing by the Corporation |
| Jurisdiction | State of Gujarat |
| Status | In force as published by the source |
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