Section 3(ii) in The U.P. State Electricity Board (Issue of Bonds) Rules, 1964
(ii)While applying for previous sanction of the State Government for borrowing any money, the Board shall furnish particulars of the amount proposed to be borrowed, purpose of the loan, security to be offered, if any, amount already borrowed by the Board and the nature of security on which such amount has been borrowed, assets of the Board, the manner in which the proposed loan is to be repaid, and such other particulars as the State Government may require.
