Section 90E(1) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(1)Whenever the repayment of a loan from a sinking fund has been sanctioned under the proviso to sub-section (1) of section 90C, the Council shall establish such a fund and shall pay into it, on such dates as may have been approved under the said proviso, such sum as will, with accumulations of compound interest, be sufficient after payment of all expenses to pay off the loan within the period approved:Provided that, if at any time, the sum standing to the credit of the sinking fund established for the repayment of any loan is of such amount that if allowed to accumulate at compound interest, it will be sufficient to re-pay the loan within the period approved, then with the permission of the State Government further payments into such fund may be discontinued.
