Section 109AA(3) in The Mumbai Municipal Corporation Act, 1888
(3)The securities belonging to a sinking fund shall be valued for the purposes of this section at their current market value, except in the case of debentures issued under this Act or under any previous Act relating to the municipal government of the city or under the City of Bombay Improvement Act,- 1898, or under the City of Bombay Improvement Trust Transfer Act, 1925, which shall always be valued at par, provided that the corporation shall make good immediately any loss which may accrue on the actual sale of such debentures at the time of the repayment of the loan.
