Power of Board to borrow from State Government

Notwithstanding anything contained in any other law for the time being in force, the Board may borrow from the financial institutions of the State Government for the purpose of carrying out the purposes of this Act. In case of unsecured or secured loans incurred by the Board, they shall share equally proportionate to such assets and debts. The Board shall at the end of every year have a valuation of its assets and liabilities made by an appointee approved by the State Government: Provided that it shall be open to the State Government to order a valuation to be made at any time it may consider necessary.