Section 18 in The Chota Nagpur Encumbered Estates Act, 1876
18. [ Power of Manager to raise money by mortgage, sale, or loan. - After a scheme has been approved by the Commissioner under Section [11A] [Substituted by Act 3 of 1909.], the Manager shall, subject to the sanction of Commissioner, have power,-
(a)to demise by way of mortgage the whole or any part of such property for a term not exceeding twenty years from the date of publication of the order under Section 2, or(b)to sell by public auction or by private contract, and upon such terms as the Manager thinks fit, such portion of such property as may appear expedient;for the purpose of raising any money which may be required for the settlement of the debts and liabilities to which the holder of the property is subject, or with which such property or any part thereof is charged, or(c)borrow money, at such rate of interest as appears reasonable to the Board of Revenue, for the aforesaid purpose or for the purpose of meeting the costs of such repairs and improvements of the property as appear necessary to the Manager and are approved by the Commissioner.]
