Section 20. Power to borrow

(1) A market committee may with the previous sanction of the State Government, raise money required for carrying out the purposes for which it is established on the security of any property vested in it and of any 2(xxx) fees Leviable by it under this Act. (2) The market committee may, for the purpose of meeting the expenditure on lands, buildings and equipments required for establishing the market or for carrying out the purposes and provisions of the Act and Rules or bye-laws made thereunder, obtain a loan from the State Government. (3) The conditions subject to which such money or loan shall be raised or obtained and the time within which the same shall be repayable, shall be subject to the previous sanction of the State Government.