Regarding your comment ...
However, when we can use the borrowing time technique in latches whose cycle time is 5ns. But the whole combinational logic delay must be less than or equal to 20ns(four stages).
I would not think of it exactly that way.
Instead, you need to consider each of the latch *pairs* involved in the borrowing.
One stage borrows from the next one (only if needed), and the logic delays for both latches in a given pair combine/borrow to determine the minimum cycle-time.
Thus, it is not a function of the "whole combinational logic delay" of all four stages, but instead is the *maximum* time required by the worst of any of the pair-combinations, taken one at a time.
(this is very similar in principle to what you correctly stated about the flop situation)
To work backwards to determine a minimum cycle-time (which I think is what you are really trying to do) ...
You could sum the delays for each pair-combination, and then pick the maximum sum (in this case, it is the path1/path2 combo with 8+2=10ns).
One-half of this is the minimum cycle-time of 5ns - the latches are effectively doing a kind of delay-balancing operation here.
However, note that in general, the duty-cycle of the two phased clocks do not need to be 50%/50%.
(but then things would otherwise get much more complex to explain)
Regarding the diagrams, I would prefer to not copy and post due to possible copyright issues with that site.
Instead, I can also see these diagrams if I do a Google search for "time borrowing blogspot" and then only search for images.
You can see the two diagrams at the top of the search results with the title "vlsi-expert" underneath them.