Section 12 in The M.P. Electricity (Supply) Finance Rules, 1967
12. Power to grant mortgages.
(1)The Board may, subject to the provisions of the Act and these rules mortgage or charge the works and all the revenue of the Board or any specific property forming part of these works :Provided that such mortgage shall be granted only with the previous permission of the Government.(2)No mortgage shall be granted by the Board for a period of less than ten years and no extension of the terms of any mortgage shall be for a period of less than ten years :Provided that the provisions of this sub-rule shall not apply to or in respect of any mortgage charged upon any specific property forming part of the Works of the Board.(3)Subject to the provisions of these rules, every mortgage other than a mortgage of any specific property granted by the Board shall be by deed made in the form specified, or similar to that specified in the Appendix to these rules.
