Section 81(4) in The Orissa Co-operative Societies Act, 1962
(4)Notwithstanding anything contained in this Chapter -(a)the Board may, with the previous sanction of the Trustee, issue debentures on the security of mortgages executed in favour of the [State Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act No. 23 of 1994 Section 5.]; and(b)all mortgages executed in favour of the said Bank prior to the coming into force of this Act, shall be deemed to be mortgages executed under Clause (a).
