Section 66(3) in The Electricity (Supply) Act, 1948
(3)Notwithstanding anything contained in this Act, where the State Government has, by an order made under sub-section (1), directed that any loan or any part thereof shall be converted into capital, and such order has the effect of increasing the capital of the Board, the capital of the Board shall stand increased by the amount by which the conversion increases the capital of the Board in excess of the capital specified under sub-section (1) of section 12-A:Provided that the amount of the loan so converted together with the capital provided under sub-section (3) of section 12-A shall not exceed the amount representing the aggregate of the outstanding loans of the Board after such conversion.]
