Chapter V MISCELLANEOUS

1. (1) The State Government may from time to time constitute an Advisory Committee consisting of such number of persons as it may think fit and on such terms and conditions as may be prescribed.
2. (2) The Corporation may, if it think fit, consult the Advisory Committee on any business coming before it and shall do so in respect of such business as the State Government may, by general or special order in this behalf specify or when required by the regulations so to do.
3. (3) The Advisory Committee shall meet at such intervals as may be prescribed, and for the transactions of urgent business on such other occasions as the Chairman of the Corporation may require.
4. (4) The number of members necessary to constitute a quorum at the meeting of Advisory Committee shall be such as the State Government when constituting the Committee may specify.

1. (1) Where any amount is due to the Corporation from any person in respect of advances or other financial accommodation granted by it, such amount shall, on a certificate being granted by the managing director in the prescribed form, be recoverable as arrears of land revenue by the Collector of the district in which the person from whom the amount is due resides or carried on business towns any property.
2. (2) Before issuing the certificate referred to in sub-section (1), the managing director shall make an application to such officer, as may be empowered by the State Government in this behalf and that officer shall, after giving an opportunity of being heard to the person concerned and after such further enquiry as he may consider necessary, by an order determine the amount due to the Corporation and communicate the same to the managing director.
3. (3) An appeal against an order passed by the officer empowered under sub-section
4. (2) shall lie within such period and to such authority as may be prescribed.
5. (4) The officer empowered under sub-section
6. (2) and if the appellate authority shall follow such procedure as may be prescribed.
7. (5) The certificate issued by the managing director under sub-section
8. (1) shall be final and conclusive and shall not be called in question before any authority or court.
9. (6) For the purpose of receiving any amount due to the Corporation in respect of a loan it shall not be necessary to proceed against the principal before proceeding against his surety.

1. (1) No provision of law, other than this Act relating to the winding up, dissolution or liquidation of the companies or corporation shall apply to the Corporation.
2. (2) The State Government may, if the Corporation fails to carry out its functions or exceeds its powers, or upon receipt of a report under section-21, call upon the Corporation to show cause why it should not be dissolved and if no explanation is offered within the specified period or if the State Government is not satisfied with the explanation, the State Government may, dissolve the Corporation from such date as may be specified.

1. (1) When the Corporation is dissolved under section 24,-
   • (i) all directors shall, from the date of dissolution, vacate their offices;
   • (ii) all powers and duties of the Corporation shall, during the period of dissolution, be exercise and performed by such person as the State Government may appoint in this behalf;
   • (iii) all funds and other property vested in the Corporation shall, during the period of dissolution, vest in the State Government.
2. (2) The State Government may reconstitute the Corporation after such period as it may think fit.

No suit or other legal proceeding shall lie against the Corporation or any director including the managing director, or any officer or other employee or any other person authorized by the Corporation to discharges any functions under this Act for any loss or damage caused or likely to be caused by anything which is in good faith done or intended to be done by him in pursuance of this Act.

1. (1) Every director shall be indemnified against all losses and expense incurred by him in the discharging of his duties except such as are caused by his own willful act or default.
2. (2) A director shall not be responsible for the acts any other director or for the acts of any officer or other employee of the Corporation or for any loss or expenses resulting to the Corporation by the insufficiency or deficiency of value of, or tie, to, any property or security acquired or taken on behalf of the Corporation in good faith, or by the insolvency or wrongful act of any debtor or any person under obligation to the Corporation, or anything done in good faith, in the execution of the duties of his office or in relation thereto.

1. (1) The Corporation may make regulations not inconsistent with the provisions of this Act and rules made thereunder, to provide for all matters for which provision is necessary or expedient for the purpose of giving effect to the provisions of this Act.
2. (2) In particulars and without prejudice to the generality of the foregoing power, such regulations, may provide for all or any of the following matters, namely:-
   • (a) the time and ace of meeting of the Corporation and the procedure to be followed in relation to such meeting including the quorum necessary fit the transaction of business;
   • (b) the duties which the managing director shall perform;
   • (c) the duties conduct, salary, allowance and conditions of service of officers and other employees of the Corporation;
   • (d) the delegation of powers and functions to the officers and other employees of the Corporation;
   • (e) the establishment and maintenance or provident and other benefit funds for the officers and employees of the Corporation;
   • (f) any other matter which is, or may be, necessary for the efficient conduct of the affairs of the Corporation.

1. (1) The State Government may, by notification published in the Official Gazette, make rules to carry out all or any of the purposes of this Act.
2. (2) In particular and without prejudice to generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-
   • (a) the terms and conditions of services of the directors and the fees and allowances payable to them;
   • (b) functions, in addition to those specified in sub-section
3. (2) of section 17, to be discharged by the Corporation and the conditions and restrictions subject to which those functions shall be discharged;
   • (c) the form and manner in which accounts shall be maintained and the balance-sheet and income and expenditure account shall be prepared;
   • (d) the form in which certificate shall be issued by the managing director, the period within which and the authority before whom an appeal shall be filed, and procedure to be followed by the appellate authority under section 23;
   • (e) any other matter which is required to be or may be prescribed.
4. (3) All rules made under this section shall be laid for not less than thirty day before the State Legislature as soon as may be after they are made and shall be subject to rescission by the State Legislature or to such modifications as the State Legislature may make during the session in which they are so laid or the session immediately following.
5. (4) Any rescission or modification so made by the State Legislature shall be published in the Official Gazette and shall thereupon take effect.