section 14
Repayment of loans
The Odisha State-Aid to Industries Act, 1978General197839 sections5 chapters
Chapter III Chapter III
Statutory text
- (1) Every loan granted under this Chapter shall be made repayable by instalments within such period from the date of actual advance of the loan or, when the loan is advanced in instalments, from the date of payment of the last instalment, and shall bear interest at such rate and payable in such manner as may be fixed by the order granting the loan.
- (2) The period fixed as aforesaid shall not exceed twenty years unless the State Government, by general or special order, otherwise directs.
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