Section 103 in The Mumbai Municipal Corporation Act, 1888
103. Method of appropriating payments on account of the consolidated loan.
- Every payment made by the Commissioner under section 95 and all recoveries made under any of the foregoing sections on account of the consolidated loan shall be appropriated first to the payment of the interest due at the time of such payment or recovery and secondly to the reduction of the principal.Repayment of House Rate and Market Loans of 1867-68
