Section 98(1) in The City of Nagpur Corporation Act, 1948
(1)Notwithstanding anything contained in this Act, the Corporation may consolidate all or any of its loans, or any part of a loan and for that purpose may invite tenders for a new loan to be called "the Nagpur Corporation Consolidated Loan" and invite holders of municipal debentures to exchange their debentures for scrip of such loan.
