(1) On the declaration of a village to be Gramdan village under section 4 all persons whose names are included in the register referred to in section 10 shall be deemed to constitute a Gram Mandal for the Gramdan village from the date specified in the declaration aforesaid; and the Gram Mandal shall have all such powers and discharge all such functions as are vested in, or conferred on, it by or under this Act, or otherwise.
(2) Every Gram Mandal so established shall be a body corporate by the name of "Gram Mandal of . . . . . . . . " having perpetual succession and a common seal, with power to enter into contracts; and subject to the provisions of this Act, to acquire, hold, administer or dispose of property, both movable and immovable, whether within or without the limits of the Gramdan village over which it has authority, and may in its corporate name sue and be sued.