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Section 33: Power of Corporation to borrow.

The Vidarbha Irrigation Development Corporation Act, 1997State Act of Maharashtra · Act 26 of 1997

(1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money from the financial institutions or non-resident Indians or from the open market by issue of guaranteed or un-guaranteed bonds, debentures, stocks, cash certificates, fixed deposit receipts and otherwise, for the purpose of providing itself with adequate resources.

(2) The maximum amount which the Corporation may at any time have on loan under sub-section (1) shall not exceed rupees one thousand crores, unless the State Government fixes a higher maximum limit for this purpose.

Where this provision sits

ActThe Vidarbha Irrigation Development Corporation Act, 1997
Section33
Marginal notePower of Corporation to borrow.
JurisdictionState of Maharashtra
StatusIn force as published by the source

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