Section 111 in The Maharashtra Municipal Corporations Act, 1949
111. When and how loan shall be repaid. - Every loan raised by the Corporation under section 109 shall be repaid within the time approved under proviso (ii) to sub-section (1) of the said section and by such of the following methods as may be approved under the said proviso, namely :-
(a)by payment from a sinking fund established under section 112 in respect of the loan;(b)by equal payments of principal and interest;(c)by equal payments of principal;(d)in the case of a loan borrowed before the appointed day by annual drawings if such method was in operation for the repayment of such loan immediately before such day;(e)from any sum borrowed for the purpose under section 109(1)(b); or(f)partly from a sinking fund established under section 112 in respect of the loan and partly from money borrowed for the purpose under section 109(1)(b).
