Section 13(4) in Maharashtra Industrial Development Act, 1961
(4)All expenditure which the Board of Industrial Development may have incurred before the date of the coming into force of this Act in connection with any of the purposes of this Act shall be deemed to be a loan advanced to the Corporation under section 21 on that date, and all assets acquired by such expenditure shall vest in the Corporation:[Provided that, where any capital receipts have been recovered by the Board in the course of its dealings with such assets, the amount of such receipts shall be excluded from the amount to be treated as a loan to the Board under this sub-section.] [This proviso was added by Maharashtra 18 of 1975, Section 6.]
