Section 263(1)(f) in The Gujarat Panchayats Act, 1993
(f)all debts and obligations incurred and all contracts made by or on behalf of the dissolved panchayat immediately before the said date and subsisting on the said date shall in, so far as they relate to the village formed in the area within the jurisdicition of the dissolved panchayat be the debts and obligations incurred by and the contracts made by the panchayat of the new village: