Section 143(1) in The Calcutta Municipal Corporation Act, 1980
(1)Notwithstanding anything contained in this Act, the Corporation may consolidate all or any of its loans or part thereof and for that purpose may invite tenders for a new loan (to be called "the Calcutta Municipal Consolidated Loan, 19/20.......") and may invite holders of municipal debentures to exchange their debentures for scrip of such loan.
