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Section Section 17

or a loan or advance granted under clause (3) of section 18 by the Bank to any p

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section 17 or a loan or advance granted under clause (3) of section 18 by the Bank to any person has been applied by such person, wholly or in part, in making loan or advance to any borrower, any sum received by the borrowing bank o account of bills of exchange in respect of which the declaration under clause (i) of the proviso to clause 3A) of