Power to borrow

1. (1) The Market Committee may, with the previous sanction of the Director/

Managing Director, raise money from banks , financial institutions or issue

debentures required for carrying out the purpose for which it is established on the security of any property vested in it and of any fees/user charge leviable by it under this Act.

1. (2) The Market Committee may, for the purpose of meeting the initial expenditure on lands, building, staff and equipments required for establishing the market,

obtain a loan from the Government or State Agricultural Marketing Board or

other financial institution.

1. (3) The conditions subject to which money or loan under sub-section
2. (2) shall be raised or obtained and the time within which the same shall be repayable shall be subject to the previous sanction of the State Government, or the Director or the Managing Director.