Section 37 in The Orissa State Financial Corporation General Regulations, 2003
37. Application of proceeds of sale of share.
- The net proceeds of any sale of shares under regulation 36 after deduction of cost of such sell shall be applied in or towards the satisfaction of debt or liability in respect whereof the lien exists so far as the same is presently payable and the residue if any paid to the shareholder or the person if any entitled by transmissions to the shares so sold.
