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Section 66: Power of Board to repay loans before due date.

The Maharashtra Maritime Board Act, 1996.State Act of Maharashtra · Act 15 of 1997

The Board may, with the previous sanction of Government, apply any sums out of moneys which may come into its hands under the provisions of this Act and which can be so applied without prejudicing the security of the other holders of the Board Securities in repaying to Government any sum which may remain due to it in respect of the principal of any loan although the time fixed for the repayment of the same may not have arrived:

Provided that, no such repayment shall be made of any sum less than ten thousand rupees; and that if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due or the outstanding principal.

Where this provision sits

ActThe Maharashtra Maritime Board Act, 1996.
Section66
Marginal notePower of Board to repay loans before due date.
JurisdictionState of Maharashtra
StatusIn force as published by the source

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