Validating Company Law Board

October 1, 1966 to the phasing envisaged therein.'' As a result while the Corporation's total refinance commitments at the end of June 1966 amounted to Rs 2.160 crores, actual disbursements were less than Rs 5 crores. And from the way the Corporation shifts the responsibility for this to the State Governments or banks who financed the schemes, it would seem that its own evaluation of the projects had been cursory at best, leading to the conclusion that the Corporation is just not geared to playing a genuinely promotional role in the sense of being able to evaluate and promote projects for financing.