Section 126(2) in West Bengal Co-operative Societies Act, 2006
(2)If the mortgagor fails to furnish such further security within specified period, the entire amount of the loan together with the interest accrued thereon shall fall due at once and the Co-operative agriculture and rural development bank or the State Co-operative and rural development bank or the Central Co-operative bank or the apex housing society or the housing co-operative society or the financing bank or the primary agricultural credit co-operative society shall, subject to the rules, be entitled to take action for recovery thereof under this Chapter.Explanation-For the purpose of this section a security shall be deemed to be insufficient if the value of the mortgaged property does not exceed the amount for the time being due on the mortgage by such proportion as may be specified in the rules or the by-laws.
