Bare ActsMadras Hindu Religious and Charitable Endowments Act, 1951

Section 75A

[Power of Board to borrow

Amendment status not verified — confirm the current text below against the official source.

(1) The Board may, from time to time, with the previous sanction of the Government and subject to such conditions and limitations as the Government may determine, borrow any sum for investment by the Board in any remunerative scheme undertaken or to be undertaken by it. (2) The income derived from any remunerative scheme implemented wholly or partly with any sum borrowed under sub-section (1) shall be utilized only for the repayment of the loan and payment of interest thereon and for the purpose of performing the functions which the Board is required by this Act to perform.] Inserted by Act 21 of 1976.

Section 75A – Madras Hindu Religious and Charitable Endowments Act, 1951 | DailyLaw.ai