Section 134(1) in The New Delhi Municipal Council Act, 1994
(1)Notwithstanding anything to the contrary contained in this Chapter, the Council may consolidate all or any of its loans and for that purpose may invite tenders for a new loan (to be called" the New Delhi Municipal Council Consolidated Loan, 19-") and invite holders of the municipal debentures to exchange their debentures for scrips of such loan.
