Section 122 in The Maharashtra Co-Operative Societies Act, 1960
122. [ Registration of mortgage lease etc. executed in favour of [Co-operative Agriculture and Rural Multi-purpose Development Bank] [Section 122 was substituted for the original by Maharashtra 5 1990, Section 9.].
- Notwithstanding anything contained in the Indian Registration Act, 1908 it shall not be necessary to register mortgage, lease, hypothecation deed, loan, bond surety bond, guarantee deed, promissory note or loan agreement executed in favour of the [Co-operative Agriculture and Rural Multi-purpose Development Bank] [These words were substituted for the words 'Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], provided the Bank sends within such time and in such manner as may be prescribed a copy of such instrument to the concerned registering authority; and on receipt of the copy the registering authority shall file the same in the relevant books prescribed under the Registration Act, 1908:Provided that, any such instrument executed in favour of the bank before the date of publication of the Maharashtra Co-operative Societies (Amendment) Act, 1989 in the Official Gazette may be sent to the concerned registering authority within the period of three months from such date.]
