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TypeBare Act JurisdictionKarnataka Government

Banglore Development Authority Act, 1976 Section 39

Power of Authority Toborrow

~1 min read
https://sooperkanoon.com/act/59302

Bare act section · Research

About this section

Banglore Development Authority Act, 1976 Section 39 is part of Banglore Development Authority Act, 1976 - Power of Authority Toborrow. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

(1) The Authority may, from time to time, with the previous sanction of the Government and subject to such conditions as may be prescribed in this behalf, borrow any sum required for the purpose of this Act.

(2) The rules made by the Government for the purpose of this section may empower the Authority to borrow by the issue of debentures and to make arrangement with the bankers.

(3) Debentures issued by the Authority shall be in such form as the Authority, with the sanction of the Government, may, from time to time, determine.

(4) Every debenture shall be signed by the1[Commissioner] and one other member of the Authority.

(5) Loans borrowed and debentures issued under this section may be guaranteed by the Government as to the repayment of principal and payment of interest at such rate as may be fixed by the Government.

______________________

1. Substituted by Act 18 of 1981 w.e.f. 30.12.1980.

Frequently asked questions

What does Banglore Development Authority Act, 1976 Section 39 provide?

Section Section 39 of the Banglore Development Authority Act, 1976 (Power of Authority Toborrow) is reproduced on this page as part of the Banglore Development Authority Act, 1976. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Banglore Development Authority Act, 1976 Section 39?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Banglore Development Authority Act, 1976 Section 39. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Karnataka, confirm the wording against the official state gazette or authorized publication.

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