Section 52 in Orissa State Financial Corporation General Regulations, 1957
52. Manner and form in which contracts binding on the Corporation may be executed.
- Contracts on behalf of the corporation may be made as follows:(a)Any contract which is by law required to be in writing, may be made on behalf of the corporation in writing signed by the Managing Director or Secretary, where so authorised by the Managing Director in writing, and may in the same manner be varied or discharged.(b)Any contract which would be valid if made by parol only, may be made by parol on behalf of the corporation by the Managing Director or Secretary, where so authorised by the Managing Director in writing, and may in the same manner be varied or discharged.
