General powers of the Board.

The Board shall, for the purpose of carrying out its functions under this act, have the following powers, namely-

1. (i) to acquire and hold such movable and immovable property as it deems necessary and to lease, sell or otherwise transfer any such property; Provided that any lease, sale/mortgage, hypothetication or other transfer to any persons or authority other than the Khadi and Village Industries Commission of any immovable property belonging to the Board shall be null and void unless it is sanctioned by the Government.
2. (ii) to incur expenditure and undertake any work in any area in the State for the framing and execution of such schemes as it may consider necessary for the purpose of carrying out the provisions of this Act, or as may be entrusted to it by the Government; (iii)to borrow money from the Khadi and Village Industries Commission and also to hypothecate or mortgage properties as securities against the loans;
3. (iv) to write off minor irrecoverable losses as provided for under Section 35 of this Act.