Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 1] [Entire Act]

State of Gujarat - Section

Section 128 in The Gujarat Co-Operative Societies Act, 1961

128. Mortgages executed by manager's of joint Hindu Families.

(1)Where mortgage (other than a mortgage to which sub-section (2) applies) executed in favour of a [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] either before or after the commencement of this Act, is called in question on the ground that it was executed by the manager of a joint Hindu family for a purpose not binding on the members thereof whether such members have attained majority or not the burden of proving the same shall, notwithstanding any law to the contrary, lie on the party raising it.
(2)A mortgage executed in favour of a [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] or the [State Land Development Bank] [Substituted for the words 'State Land Mortgage Bank' by Gujarat 24 of 1964] by the manager of a joint Hindu family in respect of a loan advanced by such bank for the improvement of agricultural land or of the methods of cultivation, or for financing any other means to raise the productivity of the land, or for the purchase of land, shall be binding on every member of such joint Hindu family, notwithstanding any law to the contrary.