Section 16(1) in Himachal Pradesh Ex-servicemen Corporation Act, 1979
(1)For the purpose of carrying out its functions under this Act, the Corporation may -(a)be provided with capital by the Government on such terms and conditions as the Government may specify, or by any person of association of persons interested in or dealing with the welfare of ^servicemen on such terms and conditions as may be mutually agreed upon between the Corporation and such person or association of persons;(b)with the previous approval of, and subject to the directions of the Government, borrow money from any bank or other financial institution or any other authority or organisation;(c)issue bonds and debentures or draw, make, accept, endorse, dis" count, execute and issue promissory notes, bills of exchange, hundies, bills, warrants, debentures and other negotiable instrument.
