Section 25
Borrowing powers of the Governing Board.
The Auroville Foundation Act, 1988
About this Act
An Act to provide for the acquisition and transfer of the undertakings of Auroville and to vest such undertakings in a foundation established for the purpose with a view to making long-term arrangements for the better management and further development of Auroville in accordance with its original charter and for matters connected therewith or incidental thereto.
Subject to such rules as may be made in this
behalf, the Governing Board shall have the power to borrow on the security of the properties of Auroville
or any other asset for carrying out the purposes of this Act.