Section 15 in The Goa Information Technology Development Rules, 2011
15. Limit on borrowing without previous consent of the Government.
- The Corporation may borrow money and mortgage or charge its undertaking and property (including its revenues) or any part thereof and issue debentures, debenture stock, notes and other securities whether outright or as security for any debt, liability or obligation of the Corporation or of any third party provided that the aggregate amount for the time being remaining undischarged of money borrowed or secured as aforesaid by the Corporation exclusive of the temporary loans as aforesaid, shall not at any time without the previous consent of the Government exceed the sum of Rs. 1.00 crore. Corporation will have to follow instructions issued by the Finance Department from time to time.
