Bare ActsThe MADHYA PRADESH MUNICIPAL CORPORATION ACT, 1956

Section 113

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

Repayment of loans -- Every loan raised by the Corporation under section 102, shall be repaid within the time approved under provision (iii) to sub-section (1) of the said section and by such of the following methods as may be approved namely ----- (a) by payment from a sinking fund established under section 114 in repect of the loan, or (b) by equal payments of principle and interest, of (c) by equal payments of principle, or (d) in the case of a loan, borrowed before this Act comes into force by the method which was in operation for the repayment of such loan; or (e) from any sum borrowed under section 102 (1), (iii), or (f) partly from the sinking fund established under section 114 in respect of the loan and partly from money borrowed for the purpose under provision (iii) to sub-section (1) of section 102.

Section 113 – The MADHYA PRADESH MUNICIPAL CORPORATION ACT, 1956 | DailyLaw.ai