Notwithstanding anything contained in the Presidency-towns Insolvency Act, 1909 (III of 1909), or the Provincial Insolvency Act, 1920 (V of 1920), or any corresponding law for the time being in force, a mortgage executed in favour of a bank shall not be called in question in any insolvency proceedings on the ground that it was not executed in good faith for valuable consideration or on the ground that it was executed in order to give the bank a preference over other creditors of the mortgagor.
Section 24: Mortgages not to be questioned on insolvency of mortgagors.
The Maharashtra Provision of Facilities for Agricultural Credit by Banks Act, 1974.State Act of Maharashtra · Act 5 of 1975
Where this provision sits
| Act | The Maharashtra Provision of Facilities for Agricultural Credit by Banks Act, 1974. |
|---|---|
| Section | 24 |
| Marginal note | Mortgages not to be questioned on insolvency of mortgagors. |
| Jurisdiction | State of Maharashtra |
| Status | In force as published by the source |
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