Section 341E(1) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(1)When the whole of a transitional area is constituted to be a smaller urban area, to transitional area shall cease to exist and the properties, funds and other assets vested in the Nagar Panchayat of that transitional area and all rights and liabilities of such Nagar Panchayat shall vest in and devolve on the Council of that smaller urban area.
