Section 15 in The Maharashtra Industrial Development Rules, 1962
15. Temporary borrowing by the Corporation.
- The Corporation may, for the purpose of meeting any current expenditure properly chargeable to revenue, borrow by way of temporary loan or over-draft from any bank or otherwise, such sums as it may require, on such terms and conditions as the Corporation thinks fit. The amount so borrowed, together with the interest thereon, shall be repaid from current revenues within a period of twelve months from the date of the temporary borrowing [or within such extended period as the State Government may allow.] [Added by G. N. of 22.7.1966.]
