Section 20 in The U.P. Sahkari Gram Vikas Banks Act, 1964
20. Mortgage not to be questioned on insolvency of mortgagor.
- Notwithstanding anything contained in any law relating to insolvency, a mortgage executed in favour of a [Gram Vikas Bank] [Substituted by U.P. Act No. 19 of 1994, for the words 'Land Development Bank'.] shall not be called in question 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 [Gram Vikas Bank] [Substituted by U.P. Act No. 19 of 1994, for the words 'Land Development Bank'.] a preference over other creditors of the mortgagor.
