Section 90D in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
90D. When and how loan shall be repaid.
- Every loan raised by the Council under section 90C shall be repaid within the time approved under proviso to sub-section (1) of the said section and by such of the following methods as may be approved under the said proviso, namely :-(a)by payment from a sinking fund established under section 90E in respect of the loan;(b)by equal payments of principal and interest;(c)by equal payments of principal;(d)in the case of a loan borrowed before the appointed day by annual drawings if such method was in operation for the repayment of such loan immediately before such day;(e)from any sum borrowed for the purpose under clause (b) of subsection (1) of section 90C; or(f)partly from a sinking fund established under section 90E in respect of the loan and partly from money borrowed for the purpose under clause (b) of subsection (1) of section 90C.
