Bare ActsThe Mumbai Municipal Corporation Act.

Section 103

Method of appropriating payments on account of the consolidated loan

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

Method of appropriating payments on account of the consolidated loan.— Every payment made by the Commissioner under section 95 and all recoveries made under any of the foregoing sections on account of the consolidated loan shall be appropriated first to the payment of the interest due at the time of such payment or recovery and secondly to the reduction of the principal. Repayment of House-rate and Market Loans of 1867-68

Section 103 – The Mumbai Municipal Corporation Act. | DailyLaw.ai