Section 132(2) in The Gujarat Co-Operative Societies Act, 1961
(2)A security shall be deemed insufficient within the meaning of this section, unless the value of the mortgaged property exceeds the amount for the time being due on the mortgage by such proportion as may be specified in the rules or the bye-laws of the [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964].
