Section 16 in The Orissa Industrial Infrastructure Development Corporation Rules, 1981
16. Temporary borrowing by the Corporation.
- The Corporation may, subject to the provisions in Section 22, for the purpose of meeting any current expenditure properly chargeable to revenue, borrow by way of temporary loan or overdraft from any Bank, State Government or otherwise, such sums as it may require, on such terms and conditions as the Corporation thinks fit. The amount so borrowed, together with the interest thereon shall be repaid from current revenues within a period of twelve months from the date of the temporary borrowing, or such extended period as the Government may allow.
