Section 193:
Power of Corporation to consolidate loans.
(1) Notwithstanding anything to the contrary
contained in this Chapter, 1[2[the Corporation]] may consolidate all or any of its loans and for that purpose may
invite tenders for a new loan (to be called the Delhi Municipal consolidated loan, 19----------) and invite
holders of the municipal debentures to exchange their debentures for scrips of such loan.
(2) The terms of any such consolidated loan and the form of its scrip and the rates at which exchange
into such consolidated loan shall be permitted shall be subject to the prior approval of the 3[4[Central
Government]].
(3) The period for the exchanging of any such consolidated loan shall not, without the sanction of the
Central Government, extend beyond the farthest date within which any of the loans to be consolidated
would otherwise be repayable.
(4) 5[6[The Corporation]] shall provide for the repayment of any such consolidated loan by a sinking fund
in the manner laid down in section 190, having regard to the amount transferred to such sinking fund
under section 191.
Notes:
1. Subs. by Delhi Act 12 of 2011, s. 2 "the Corporation" (w.e.f. 13-1-2012).
2. Subs. by Act 10 of 2022, s. 2, for "a Corporation" (w.e.f. 22-5-2022).
3.Subs. by Delhi Act 12 of 2011, s. 2, for “Central Government” (w.e.f. 13-1-2012).
4. Subs. by Act 10 of 2022, s. 2, for “Government” (w.e.f. 22-5-2022).
5. Subs. by Delhi Act 12 of 2011, s. 2 "the Corporation" (w.e.f. 13-1-2012).
6. Subs. by Act 10 of 2022, s. 2, for "A Corporation" (w.e.f. 22-5-2022).