Section 12 in Assam Khadi and Village Industries Board Act, 1955
12. General Powers of the Board.
- The Board shall for the purposes of carrying out its functions under this Act have the following powers:-(i)to acquire and hold such movable and immovable property as it deems necessary and to lease, sell or otherwise transfer any such property.(ii)to incur expenditure and undertake works in any area in the State for the framing and execution of such scheme as it may consider necessary for the purpose of carrying out the provisions of this Act or as may be entrusted to it by the State Government subject to the provisions of this Act and the rules made thereunder.(iii)[ to borrow money from the Khadi and Village Industries Commission and also to hypothecate or mortgage properties as securities against the loans; [Inserted by Assam Act No. 31 of 1960, dated 17.12.1960.](iv)to write off minor irrecoverable losses such as those caused by theft, fraud, etc.]
