Section 3(3)(i) in The Punjab Panchayati Raj Act, 1994
(i)where any area excluded from any Gram Sabha area under sub-section (2) is either included in any other Gram Sabha area or is constituted into a new Gram Sabha area, the assets and liabilities of the Gram Panchayat of the Gram Sabha area from which such area is so excluded (hereinafter referred to as the existing Gram Panchayat) shall be apportioned between the successor Gram Panchayats in the manner specified hereinafter.