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Section 13: Andunl lo be kepl ii Government Tleai;uries erc

The Kerala Industrial Infrastructure Development Rules,2008State Rules of Kerala · 1993

Thc Corporation shalt,kecp an amounr of not lcss than Rs. l0 lakhs, out of its funds i'n rhe Govcrnmcnt Treasury or Statc Bdnk of India or any othcr Bank dult' approvcd by thc Govcmmcnl as rcserve frrnd,

14. Temporary b6rrowiag by^the. Clrporatiop._T7tc Corporatio4 may, for the purpose of meeting ary currcnt expcnditure propcrly chargcdblc to rcvcnue, borrow by wry .of tcmpdrary.loan or ovcrdraft from any B4nk or financial instiMon such sums. as it may rcquirc. Thc amount so borrowcd, togethcr with Intcrest thercoD, shall bc icpaid from current rcveouei within such pcriod as may ' be decidcd by the Corporatioh

15. Limit on borrowing. without preyiout consenl of Government--<ha Corporatiori rItay borrow money od thc sccurity of its rssets (including its rcvenues), or any fart thrrcof by way of mortgagc or othcrwise and may issuc Debcntures, Debenturc stocks, Nolcs and other sccuritics, as sccurity for any debt liability or obligation of lhc Corporation or othcrwisc:

Providcd'that thc aggregstc of the moncy borrowed or spcurcd as aforesaid by. the Corporation aird rcmain'ing undischargcd crclu{ing lcmporary loans shall rol, at any tim.c, v/ithout thc prcvious wiittcn.tons-cnt of the Govcmrncnt, crcccd thc suni pf Rs. I 0 crorcs.

Explanation.-Thc limit prcscribcd undcr thcsc Rulcs sball not appty ro deposits acccpted in tcrms of lcction 16 of the Act.

Where this provision sits

ActThe Kerala Industrial Infrastructure Development Rules,2008
Section13
Marginal noteAndunl lo be kepl ii Government Tleai;uries erc
JurisdictionState of Kerala
StatusIn force as published by the source

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