Section 114(1) in The Maharashtra Co-Operative Societies Act, 1960
(1)With the previous sanction of the State Government and the Trustee, and subject to such terms and conditions as the State Government may impose, the [state Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] in the discharge of its function as [a Co-operative Agriculture and Multi-purpose Rural Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] may issue debentures of such denominations, for such period, and at such rates of interest, as it may deem expedient on the security of mortgages [instruments of hypothecation, guarantee, pledge or charge created in favour of the Bank, or mortgages, instruments of hypothecation, guarantee, pledge or charge to be acquired or partly on mortgages or on any of the aforesaid instruments] [These words were substituted for the words 'or mortgages to be acquired or partly on mortgages' by Maharashtra 5 of 1990, Section 4(a).] held and partly to be acquired, and properties and other assets of the [state Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.].
