Property management, contracts, and borrowing powers are regulated through sanction thresholds and approval safeguards. Power is conferred on the Director General, subject to Corporation-prescribed conditions and specified safeguards, to acquire movable or immovable property, dispose of property within prescribed limits, and make or authorise contracts for carrying out the Code. Standing Committee sanction is required for significant property transactions and higher-value contracts. The Corporation may also raise loans only with Standing Committee resolution and prior Central Government approval, subject to rules on borrowing sources, mortgages, repayment, accounting treatment, and annual reporting.
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Provisions expressly mentioned in the judgment/order text.
Property management, contracts, and borrowing powers are regulated through sanction thresholds and approval safeguards.
Power is conferred on the Director General, subject to Corporation-prescribed conditions and specified safeguards, to acquire movable or immovable property, dispose of property within prescribed limits, and make or authorise contracts for carrying out the Code. Standing Committee sanction is required for significant property transactions and higher-value contracts. The Corporation may also raise loans only with Standing Committee resolution and prior Central Government approval, subject to rules on borrowing sources, mortgages, repayment, accounting treatment, and annual reporting.
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