Section 39(b) in The Orissa Co-operative Societies Act, 1962
(b)any debentures issued by any such Society and not creating, declaring, assigning, limiting of extinguishing, any right, title or interest to or in immovable property, except in so far as it entitles the holder to the security afforded by a registered instrument whereby the Society has mortgaged, conveyed or otherwise transferred the whole or a part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures; or
