Section 27(4) in The Industrial Finance Corporation Act, 1948
(4)Any loss or profit in connection with any borrowing of foreign currency under sub-section (1) for the purpose of granting loans and advances under this Act or with its repayment to the concerned foreign lending agency, on account of any fluctuations in the rate of exchange accruing-(a)during the period within which the loan or advance is repayable by the industrial concern or the period of actual repayment thereof by the concern, whichever is longer, shall be reimbursed by, or paid to, as the case may be, the recipients of such loans and advances;(b)after the expiry of the period specified in clause (a),-(i)shall be borne by the Corporation in respect of normal market fluctuations in foreign exchange;(ii)shall be reimbursed by, or paid to, as the case may be, the Central Government in respect of fluctuations other than the normal market fluctuations in foreign exchange.Explanation .-If any question arises as to whether any fluctuation as aforesaid is a normal market fluctuation or not, the same shall be decided by the Central Government whose decision thereon shall be final.] [ Substituted by Act 74 of 1972, Section 15, for sub-Ss. (3) and (4).]
