(c)all properties vested in the Gram Sabha and any balance of the Gram Nidhi, shall be vested in and such of its liabilities as may have been incurred in the discharge of its legitimate functions or which have been incurred in the course of duties performed in the genuine interest of the Gram Sabha concerned, shall be transferred to the Deputy Commissioner of the district or to the Sub-divisional Officer of the sub-division, as the case may be, who shall make such arrangements, as may be deemed necessary until the expiration of the period of supersession ; and