Amendment status not verified — confirm the current text below against the official source.
(1) The authorised capital of the corporation shall be ten crores of rupees divided into 10,000 shares of rupees ten thousand each, of which two thousand fully paid-up share of ten thousand rupees each, shall be issued in the first instance, and the remaining shares may, with the prior sanction of the State Government, be issued from time to time by the corporation as and when the corporation, may deem fit. (2) The State Government and the Central Government shall subscribe, in such proportion as may be mutually determined by them, to the share capital to be issued in the first instance. (3) Subsequent issues of share capital may be subscribed to by the State Government and the Central Government in such proportion as may be mutually determined. (4) The State Government may from time to time increase the authorised capital of the corporation to such extent as the State Government may deem necessary.