section 21
Power of Corporation to borrow
The Gujarat Industrial Development Act, 1962Corporate196217 sections3 chapters
Chapter III FUNCTIONS AND POWERS OF THE CORPORATION
Statutory text
- (1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money in the open market or otherwise with a view to providing itself with adequate resources.
- (2) All moneys borrowed under sub-section
- (1) may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rates and such conditions as the State Government may determine at the time the moneys are borrowed.
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