Section 149 in Punjab Regional and Town Planning and Development Act, 1995
149. Effect of vesting assets and liabilities of the Punjab Housing Development Board.
(1)Unless otherwise expressly provided under this Act, all contracts, agreements and other instruments of whatever nature subsisting or having effect immediately before the date of abolition of the Punjab Housing Development Board and to which that Board is a party or which are in favour of the said Board shall be of as full force and effect against the Authority and may be enforced and acted upon as well as fully and effectually as if instead of the Punjab Housing Development Board the Authority had been a party thereto or as if they had been entered into or issued in favour of the Authority.(2)If on the date of abolition of the Punjab Housing Development Board under this Act, any suit, appeal or other legal proceedings of whatever nature by or against the Punjab Housing Development Board are pending, then it shall not abate or be discontinued or be in any way prejudicially affected by reason of the transfer to the Authority all the assets and liabilities of the Punjab Housing Development Board or of anything done under this Act, but the suit, appeal or other legal proceedings, may be continued, presented and enforced by or against the Authority.Explanation. - For the purpose of this sub-section, legal proceedings include any proceedings under the Land Acquisition Act, 1984 (Central Act 1 of 1894).
