Property, contracts and borrowing powers of the Corporation are regulated through approval thresholds and loan security conditions. Power is conferred on the Director General, subject to conditions and Standing Committee sanction where required, to acquire, dispose of, lease, and otherwise deal with Corporation property. The Corporation may also enter into contracts necessary for the Code, with specified authority, expenditure thresholds, and seal requirements, and may raise loans only with Standing Committee resolution and prior Central Government approval, including authority to mortgage vested property for repayment security.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Property, contracts and borrowing powers of the Corporation are regulated through approval thresholds and loan security conditions.
Power is conferred on the Director General, subject to conditions and Standing Committee sanction where required, to acquire, dispose of, lease, and otherwise deal with Corporation property. The Corporation may also enter into contracts necessary for the Code, with specified authority, expenditure thresholds, and seal requirements, and may raise loans only with Standing Committee resolution and prior Central Government approval, including authority to mortgage vested property for repayment security.
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