Section 60(2) in The Electricity (Supply) Act, 1948
(2)All expenditure which the State Government may, not later than [one year] [ Substituted by Act 23 of 1978, Section 9, for " two months" (w.e.f. 3.6.1978).] after the first constitution of the Board, declare to have been incurred [* * *] [ The words " before the issue of the notification under sub-Section (4) of Section 1" omitted by Act 23 of 1978, Section 9.] on capital account in connection with the purposes of this Act shall be deemed to be a loan advanced to the Board under section 64 on the date of the said declaration, and all the assets acquired by such expenditure shall thereupon vest in the Board.[60-A. Period of limitation extended in certain cases.-Where the right to recover any amount due to the State Government for or in connection with the consumption of electricity is vested in the Board and the period of limitation to enforce such right has expired before the constitution of the Board, or within three years of its constitution, then, notwithstanding anything contained in the Indian Limitation Act, 1908 (9 of 1908), or any other law for the time being in force relating to limitation of action, the Board may institute a suit for the recovery of such amount,-(i)where it has been constituted before the commencement of the Electricity (Supply) Amendment Act, 1966 (30 of 1966) within three years of such commencement; and(ii)where it has been constituted after such commencement, within three years of its constitution.]
