Notwithstanding anything to the contrary contained in any agreement, the Corporation may, by notice in writing, require any beneficiary, including a guarantor and a debtor, to discharge forthwith, in full or any part of the amount advanced to him as subsidy, grant, loan or in any other fund, to the Corporation-
(a) if it appears to the Board that any false or misleading information or particular was given by the beneficiary before or at the time of receiving the benefit;
(b) if the recipient has failed to comply with any of the terms of such grants, subsidy or loan imposed by the Corporation at the time of payment;
(c) if he contravenes any of the provisions of the agreement or conditions imposed by the Corporation at the time of advancing such loan or making such grant, as the case may be;
(d) if there is reasonable apprehension that the beneficiary is unable to utilise the money for the purpose for which it has been given;
or
(e) if for any other reason it is necessary to do so to protect the interest of the Corporation.