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Home Bare Acts Phrase: borrowing powersState Financial Corporations Act, 1951 Section 7
Title: Additional Capital of Financial Corporation and Its Borrowing Powers
State: Central
Year: 1951
.....Financial Corporation under Clause (b) of Sub-section (4) and Sub-section (5) and of the contingent liabilities of the Financial Corporation in the form of guarantees given by it or underwriting agreements entered into by it, shall not exceed ten times the amount of the paid-up share capital and reserve fund of the Financial Corporation: Provided that the Financial Corporation may, with the prior approval of the Small Industries Bank, exceed the aforesaid limit up to thirty time the amount of the paid-up share capital and reserve fund of the Financial Corporation.] ______________________ 1. Section 7 Substituted by Act 6 of 1962, section 5 (w.e.f. 16-4-1962) and again Substituted by Act. 39
View Complete Act List Judgments citing this sectionInland Water Ways Authority of India Act, 1985 Section 18A
Title: Borrowing Powers of the Authority
State: Central
Year: 1985
Section 18A - Borrowing powers of the Authority 1["SECTION 18A - Borrowing powers of the Authority The Authority may, in such manner and subject to such terms and conditions as may be determined by regulations, borrow money from any source by the issue of bonds, debentures or other instruments as it may think fit for discharge of all or any of its functions under the Act".] ___________________________ 1. Inserted by The Inland Waterways Authority Of India (Amendment) Act, 2001 w.e.f 11.09.2001.
View Complete Act List Judgments citing this sectionRoad Transport Corporations Act, 1950 Section 26
Title: Borrowing Powers
State: Central
Year: 1950
1["26. Borrowing powers A Corporation may, with the previous approval of the State Government, borrow money for the purpose of raising its working capital or meeting any expenditure of a capital nature in the open market or from a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, a State Finance Corporation established under section 3 of the State Financial Corporations Act, 1951, the Industrial, Finance Corporation of India, established under section 3 of the Industrial Finance Corporation Act, 1948 the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964, the Life Insurance Corporation of India, established under section 3 of the Life Insurance Corporation Act, 1956, or any other financial institution providing credit which is subject to the control of the Reserve Bank of India." _____________________ 1. Substituted by the Road Transport Corporations (Amdt.) Act, 1982 (63 of 1982), section 13 (15-11-1982).
View Complete Act List Judgments citing this sectionAir (Prevention and Control of Pollution) Act, 1981 Section 33A
Title: Borrowing Powers of Board
State: Central
Year: 1981
1[33A. Borrowing powers of Board A Board may, with the consent of, or in accordance with the terms of any general or special authority given to it by, the Central Government or, as the case may be, the State Government, borrow money from any source by way of loans or issue of bonds, debentures or such other instruments, as it may deem fit, for discharging all or any of its functions under this Act.] ________________________ 1. Inserted by Act 47 of 1987, section 16 (w.e.f. 1-4-1988).
View Complete Act List Judgments citing this sectionWater (Prevention and Control of Pollution) Act, 1974 Section 37A
Title: Borrowing Powers of Board
State: Central
Year: 1974
1 [37A. Borrowing powers of Board A Board may, with the consent of, or in accordance with, the terms of any general or special authority given to it by the Central Government or, as the case may be, the State Government, borrow money from any source by way of loans or issue of bonds, debentures or such other instruments, as it may deem fit, for the performance of all or any of its functions under this Act]. _____________________ 1. Inserted by Act 53 of 1988, section 19 (w.e.f. 29-9-1998)
View Complete Act List Judgments citing this sectionKarnataka Municipal Corporations Act, 1976 Section 156
Title: Limit of Borrowing Powers
State: Karnataka
Year: 1976
Notwithstanding anything hereinafter contained, the borrowing powers of the corporation shall be limited so that the sum payable annually for interest and for the maintenance of the sinking funds as hereinafter provided, and for interest and repayment of any sums borrowed otherwise shall not, except with the express sanction of the Government, exceed ten percent of the rateable value of buildings and lands as determined under Chapter X.
View Complete Act List Judgments citing this sectionUnit Trust of India Act, 1963 (52 of 1963) Chapter IV
Title: Powers and Functions of the Trust
State: Central
Year: 1963
.....of 1975, Section 54 (w.e.f. 16th February, 1976). Section 20B - Grants, donations, etc. to Trust The Trust may receive gifts, donations or benefactions from Government or any other source and such gifts, grants, donations or benefaction shall be treated by the Board as capital or income of the first unit scheme or, as the case may be, of any subsequent unit scheme according to the purposes for which they are made and in the absence of any indication of such purposes, they shall be treated as capital or income of such units scheme or schemes and to such extent as the Board thinks fit. Section 20C - Power to transfer rights 1[20C. Power to transfer rights The rights and interests of the Trust (including any other rights incidental thereto) in relation to any loan or advance granted, or any amount recoverable, by it may be transferred by the Trust, either in whole or in part, by the execution or issue of any instrument, or by the transfer of any instrument by endorsement or in any other manner in which the rights and interests in relation to such loan or advance may be lawfully transferred, and the Trust may notwithstanding such transfer, act as the trustee within the.....
View Complete Act List Judgments citing this sectionMajor Port Trusts Act, 1963 Chapter VII
Title: Borrowing Powers of Board
State: Central
Year: 1963
.....person to whom, but for the loss, theft or destruction, it would be payable, he may, on application to the Board and on producing proof to its satisfaction of the loss, theft or destruction and of the justice of the claim and on payment of such fee, if any, as may be prescribed by regulations, obtain from the Board' an order for-- (a) the payment of interest in respect of the security said to be lost, stolen or destroyed, pending the issue of a duplicate security; and (b) the issue of a duplicate security payable to the applicant. (2) An order shall not be passed under sub-section (1) until after the issue by the Board of the prescribed notification of the loss, theft or destruction. (3) A list of the securities in respect of which an order is passed under sub-section (1) shall be published in such manner as the Board may prescribe. (4) If at any time before the Board becomes discharged under the provisions of this Act from liability in respect of any security, the whole of which is alleged to have been lost, stolen or destroyed, such security is found, any order passed in respect there'of under this section shall be cancelled. Section 74 - Issue of converted, etc.,.....
View Complete Act List Judgments citing this sectionLocal Authorities Loans Act, 1914 Section 3
Title: Borrowing Powers of Local Authorities
State: Central
Year: 1914
.....to fix a period for the repayment of any money borrowed thereunder which, when the period fixed for the repayment of the money previously borrowed is taken into account, will exceed the maximum period fixed for the repayment of a loan by or under any enactment for the time being in force: {Ins. by Act 38 of 1920, s.2 and Sch.I.} [Provided further that, in the case of loans other than loans made by the {Subs.by the A.O.1937, for "L.G.".} [appropriate Government], no amount exceeding twenty-five lakhs of rupees shall be borrowed unless the terms, including the date of flotation, of such loan have been approved by the {Subs., ibid., for "G.G.in C.".} [appropriate Government].] (2) Nothing in this section shall be deemed to authorize any local authority-- (a) to borrow or spend money for any purpose for which, under the law for the time being in force, it is not authorized to apply its funds, or (b) to borrow money by means of the issue of bills or promissory notes payable within any period not exceeding twelve months.
View Complete Act List Judgments citing this sectionUnit Trust of India Act, 1963 (52 of 1963) Section 20
Title: Borrowing Powers
State: Central
Year: 1963
.....Reserve Bank for the purposes of any scheme other than the first unit scheme: Provided that any amount borrowed under this clause and outstanding at any one time shall not exceed-- (a) five crores of rupees in respect of each such scheme; (b) ten crores of rupees in respect of all such schemes in the aggregate. (3) The bonds issued by the Trust under sub-section (2) shall be guaranteed by the Central Government as to the re-payment of principal and the payment of interest at such rate as may be fixed by the Central Government at the time the bonds are issued.] ______________________ 1. Substituted by Act 63 of 1985, Section 7. 2. Substituted by Act 17 of 1966, Section 5 (w.e.f. 10th June, 1966).
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