Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in this Chapter, lhe Corporalion may, wiih the previous sancLion or the Slate Government, from time to lime, take a short-term loan repayable wiihin any period not exceeding twelve months, Trnni the State Bank of India or any other scheduled hank Tor such purpose, not being a purpose, referred to in subsection 11 > of section 134, on such terms, and on furnishing such security lor Lhe repayment of such loan, as may be approved by Lhc Stale Government: 'Set- fiwl-nolc 2 on page 573, ante. Power or lhc Corporation io raiSL* slum- term limns. The Kolkaia Municipal Corporation Act, 1980. 64 \ LIX of 1980.] Time lor repayme nt of loan. Manner of repayme nt of loans. Form and effect of JebeTilures. fay mem to survivors of joint payees. Hcccipl by joiui holder for imcivst oriJivii^nd- Powor of ihir Corporaiion lo consolidate lonns f Pan III.—Finance.—Chapter X.—Loans.— Seclion a 138-143.) Provided that where (he Corporation has taken any loan under lhis seclion. no further loan under ihis section shall be sanctioned by lhe Stnte Government until lhe repayment of the previous loan.