Section 143A(2) in The Maharashtra Co-Operative Societies Act, 1960
(2)On such transfer of rights and liabilities of the State Government, the [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] shall pay to the State Government an amount equal to the extent of the liability accepted by it under such agreement, and the State Government shall inform the owners of lands concerned of such transfer; and thereupon, the provisions of this Act and rules thereunder in so far as they provide for advancing of loans (including provision for mortgaging of property,) and recovery thereof shall apply in relation to the amount of cost to be recovered from each owner of land as they apply in relation to advancing of loans and recovery thereof (including interest) as if such owner was a member of the [a Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.]. The transfer of the and liabilities and payment made in accordance therewith; shall discharge the owners of lands of their liability to make payment to the State Government under the Bombay Land Improvement Schemes Act, 1942, but to the extent only of their respective liability accepted by the Bank].
