Every loan granted to an industry shall be secured by a mortgage or floating charge upon the whole of the assets of such industry subject to any encumbrances existing at the time when the loan is granted, any by such collateral security, if any, as the State Government may prescribe.
Section 16: Loan how secured
The Madhya Pradesh State Aid to Industries Act, 1958State Act of Madhya Pradesh · Act 20 of 1958
Where this provision sits
| Act | The Madhya Pradesh State Aid to Industries Act, 1958 |
|---|---|
| Section | 16 |
| Marginal note | Loan how secured |
| Jurisdiction | State of Madhya Pradesh |
| Status | In force as published by the source |
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