Upon the issue of debentures under the provisions of section 114, the mortgage properties and other assets 14[including the properties covered by the instruments,] referred to in sub-section (3) of that section held by the 15[State Co-operative Agriculture and Rural Multipurpose Development Bank], shall vest in the 1 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
2 These words were substituted for the words “an Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
3 These words were substituted for the words “or mortgages to be acquired or partly on mortgages” by Mah. 5 of 1990, s. 4(a).
4 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
5 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
6 These words were inserted by Mah. 5 of 1990, s. 4 (b)(i)(A).
7 These words were inserted by Mah. 5 of 1990, s. 4 (b)(i)(B).
8 These words were substituted for the words “Primary Agriculture and Rural Development Banks” by Mah. 41 of 2005, s. 8.
9 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
10 These words were inserted by Mah. 5 of 1990, s. 4(b)(i)(C).
11 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
12 These words were inserted by Mah. 5 of 1990, s. 4(b)(ii)(A).
13 These words were inserted by Mah. 5 of 1990, s. 4(b)(ii)(B).
14 These words were inserted by Mah. 5 of 1990, s. 5(a).
15 These words were substituted for the words “State Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 8.
98 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV Trustee, and the holder of debentures shall have a floating charge on all such 1[mortgages, instruments and assets], and on the amount paid under such mortgages, 2[and such instruments] and remaining in the hands of the 3[State Co-operative Agriculture and Rural Multipurpose Development Bank] or of the Trustee.