The Maharashtra Maritime Board Act, 1996.State Act of Maharashtra · Act 15 of 1997
(1) The Board may raise loans, with the previous sanction of the Government on such terms and conditions as may be prescribed by rules by Government for the purposes of this Act.
(2) Loans may be raised by the Board in the open market on the Board Securities issued by it or may be obtained from the Government or a Bank approved by the Government.