Section 88(3) in Andhra Pradesh Co-Operative Societies Act, 1964
(3)The total amount due on the debentures already issued and outstanding together with that proposed to be issued shall not exceed the aggregate of-(a)the amounts due on the mortgages and the value of the other assets transferred or deemed to have been transferred under the provisions of Section 94 to the [Andhra Pradesh State Co-operative Bank Limited] [Substituted by Andhra Pradesh Act No. 14 of 1994, w.e.f. 30-4-1994.] and subsisting at such time ;(b)the accumulations in the sinking funds ;(c)the cash on hand and balances with banks and the body value or market value of securities under general funds, whichever is less.
