Section 21(2) in Gujarat Industrial Development Act, 1962
(2)All moneys borrowed under sub-section (1) may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rates and such conditions as the State Government may determine at the time the moneys are borrowed.[Explanation. - The expression "to borrow money" with all its grammatical variations and cognate expressions includes, acceptance of deposits (not being deposits accepted under Section 22) from the public for a specified period and on payment of interest thereon to the depositors at specified rates] [This Explanation was inserted by Gujarat 11 of 1986, Section 17 (w.e.f. 01-07-1986).].
