Section 11A in Delegation of Financial Powers Rules, 1978
11A. [ Investment of share capital. [Inserted by F.D. No. 35869 dated 28.7.1979.]
- Subject to specific budget provision with the concurrence of Finance Department and observance of procedural formalities, Administrative Departments shall have powers to release funds not exceeding Rupees ten lakhs per annum for investment as equity capital in any Statutory Corporation or Company wholly owned by the State Government and Rupees one lakh per annum in the case of other corporate bodies.]
