(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 unguaranteed bonds, debentures, stocks 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 Government fixes a higher maximum limit for this purpose.
28. The Corporation may accept deposits on such conditions as it deems fit from persons, authorities or institutions, to whom allotment or lease or sale of land or buildings or other properties or rights is made or is likely to be made in furtherance of the objects of this Act.
29. The Corporation shall have the authority to spend such sums as it thinks fit for the purposes authorised under this Act from and out of the fund of Corporation referred to in section 24 or from the reserve and other funds referred to in section 31, as the case may be.
30. It shall be competent for the Corporation to spend such sums, as it thinks fit also on objects authorized under this Act other than roads and such sums shall be treated as common expenditure payable out of the fund of the Corporation.
Grants, subventions, loans and advances to Corporation.
Power of Corporation to borrow.
Acceptance of deposits by Corporation.
Power to spend.
Expenditure on objects other than roads.
20 [Act No.1 of 1998]