LawgistThe New Delhi Municipal Council Act
128Form and effect of debenture
All debentures issued under this Chapter shall be in such form as the Council may, with the previous sanction of the Central Government, determine and shall be transferable in such manner as shall be therein expressed; and the right to sue in respect of the moneys secured by any of such debentures shall vest in the holders thereof for the time being without any preference by reason of some such debentures being prior in date to others.
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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
