Section 162(1) in Karnataka Municipal Corporations Act, 1976
(1)The aforesaid trustees shall, at the end of every year submit to the corporation a statement showing,-(a)the amount which has been invested during the year under section 160;(b)the date of the last investment made previous to the submission of the statement;(c)the aggregate amount of the securities then in their hands; and(d)the aggregate amount which has, up to the date of the statement, been applied under section 161 in or towards discharging loans.
