Bombay Reorganisation Act, 1960 · Chapter VI: Apportionment of Assets and Liabilities
Section 50: Right to recover loans and advances
(1) The right of the State of Bombay to recover any loans or advances made before the appointed day to any local body, society, agriculturist or other person in an area within that State shall belong to the State in which that area is included on that day.
(2) The right of the State of Bombay to recover any loans or advances made before the appointed day to any person or institution outside that State shall belong to the State of Maharashtra:
Provided that any sum recovered in respect of any such loan or advance shall be divided between the States of Maharashtra and Gujarat according to the population ratio.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 50
No Supreme Court judgment in our database cites this section yet.