Section 4(2)(vii) in Gujarat Panchayats (Suspension of Provisions and Reconversion of Certain Local Areas into Municipal Districts) Act, 1962
(vii)all debts and obligations, incurred or deemed to have been incurred and nil contracts made or deemed to have been made by or on behalf of the ??? panchayat in respect of the municipal area and subsisting on the said date shall be deemed to have been incurred and made by or on behalf of the municipality so revived in exercise of the powers conferred on it by or under the Municipal Act;