Section 61 in The West Bengal Maritime Board Act, 2000
61. Power of Board to repay loans before due date.
- The Board may, with the previous sanction of the State Government, apply any sums out of moneys at its disposal under the provision of this Act and which may be so applied without prejudice to the security of the other holders of the Board securities, in repaying to the Government any sum which may remain due to it in respect of the principal of any loan, although the time fixed for the repayment of such loan may not have arrived:Provided that no such repayment shall be made of any sum less than ten thousand rupees and that if such repayment is made, the amount of interest in each succeeding instalment shall be so adjusted as to represent exactly the interest due on the outstanding principal.
