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[Cites 0, Cited by 0] [Section 23(16)] [Section 23] [Entire Act]

Union of India - Subsection

Section 23(16)(b) in The Sugar Development Fund Rules, 1983

(b)The security shall cover the amount of loan and interest thereon for the full period of repayment as provided in sub-rule (14) above, and shall be furnished in any of the following manners, namely:-
(i)Bank Guarantee from a Scheduled Bank, or
(ii)A mortgage on all immovable and movable properties of the sugar factory on pari passu first charge basis failing which on the basis of an exclusive second charge.]']]