LawgistThe New Delhi Municipal Council Act
127Time for repayment of money borrowed under section 126
The time for the repayment of any money borrowed under section 126 shall in no case exceed sixty years and the time for repayment of any money borrowed for the purpose of discharging any previous loan shall not, except with the express sanction of Central Government, extend beyond the unexpired portion of the period for which such previous loan was sanctioned.
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BORROWING
- 126 Power of Council to borrow
- 127 Time for repayment of money borrowed under section 126
- 128 Form and effect of debenture
- 129 Payment to survivors of joint payees
- 130 Receipt by joint holders for interest or dividend
- 131 Maintenance and investment of sinking funds
- 132 Application of sinking funds
- 133 Annual statement by Chairperson
- 134 Power of Council to consolidate loans
- 135 Priority of payment for interest and repayment of loans over other payments
- 136 Power to make regulations
