Amendment status not verified — confirm the current text below against the official source.
No loan shall be granted of an amount exceeding 75 per cent of the net value of the assets of the industrial business or enterprise and of any other property offered as collateral security for the loan after deducting in both cases existing encumbrances, such value to be ascertained by such person as may be appointed by the Government and in accordance with rules as may be prescribed: Provided that for the purpose of this valuation, the additional assets which may be created by the expenditure of the sums granted as loan may be taken into account to such extent as may be prescribed. Loans how secured