Section 128 in The Manipur Co-operative Societies Act, 1976
128. Land Development Bank to receive money and give discharge.
- Notwithstanding anything contained in Section 121 all moneys due under the mortgage shall, unless otherwise directed by the State Land Development Bank or the trustee, and communicated to the mortgagor, be payable by the mortgagor to the land development bank, and such payments shall be valid as if the mortgage had not been so transferred and the land development bank shall in the absence of specific direction to the contrary issued by the Slate Land Development Bank or trustee and commencement to the Bank, be entitled to sue on the mortgage or take any other proceeding for the recovery of moneys due under the mortgage.
