Section 23 in The Orissa Industrial Infrastructure Development Corporation Rules, 1981
23. Prior approval of Government in case of issue or grant of securities guaranteed.
- No security shall be issued or granted as such in respect of which the payment of the principal as well as the interest is guaranteed by the Government until the amount, price, rate of interest, date and method of issue of such security, the arrangement for the application of the proceeds of the issue and for the payment of such proceeds have been previously approved by the Government and no variation of any such arrangement shall be made without the like approval of the Government.Chapter-V Annual financial statement and programme of work to be furnished by the Corporation
