Section 71(2) in The Maharashtra Maritime Board Act, 1996
(2)obtain advances from such banks on pledge or by hypothecation of its current assets without the previous sanction of the Government:Provided that, such temporary overdrafts or other loans,-(a)shall not at any time have a longer currency than six months;(b)shall not be taken, without the previous sanction of the Government, if, at any time in any year the amount of such overdrafts, or other loans exceeds such amount not exceeding ten lakhs of rupees, as the Government may fix in this behalf:Provided further that, all moneys so borrowed by overdrafts or otherwise shall be expended for the purposes of this Act.
