Section 33(6) in THE MAJOR PORT AUTHORITIES ACT, 2021
(6)Notwithstanding anything contained in this Act, the Board may borrow monies by means of temporary overdraft or otherwise by pledging the securities held by the Board in its reserve funds or on the security of the fixed deposits of the Board in its banks:Provided that such temporary overdrafts or other loans shall not be taken, without previous sanction of the Central Government, if at any time in any year the amount of such overdrafts or other loans exceeds a sum equivalent to fifty per cent. of the capital reserves of the Board:Provided further that all monies so borrowed by temporary overdrafts or otherwise shall be expended for the purposes of this Act.
