Capital of the Corporation

(1) The capital of the Corporation shall be such sum, not exceeding Rs. 5 Crores of rupees, as the State Government may fix: Provided that where the capital initially fixed is less than Rs. 5 Crores of rupees, the State Government may, from time to time, increase the capital to such sum not exceeding Rs. 5 Crores of rupees, as it may think fit. (2) Such capital may be provided, subject to such terms and conditions, as may be determined, by the State Government from time to time. Explanation.-For the purpose of this section the expression "capital" shall not include grants-in-aid, subsidies or gifts received by the Corporation for the specified purpose(s).