If the Director, after any inspection provided for in section 26, is not satisfied that the money lent is being applied to the purpose or purposes for which the loan was granted or that the conditions on which the loan was granted are being duly fulfilled, he may declare, notwithstanding anything contained in the deed executed under section 21, that the loan is immediately repayable and shall give notice of suchdeclaration to the borrower.
Section 27: Penalty for default in applying the loan
The Himachal Pradesh State Aid to Industries Act, 1968State Act of Himachal Pradesh · Act 2 of 1971
Where this provision sits
| Act | The Himachal Pradesh State Aid to Industries Act, 1968 |
|---|---|
| Section | 27 |
| Marginal note | Penalty for default in applying the loan |
| Jurisdiction | State of Himachal Pradesh |
| Status | In force as published by the source |
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