Section 130(2) in West Bengal Co-operative Societies Act, 2006
(2)Notwithstanding the transfer and assignment of mortgage, hypothecation, Gehan or any other charge as aforesaid,-(a)all money due under the mortgage shall, in the absence of any specific direction to the contrary issued by the Registrar or a trustee in accordance with the provisions of this Act and communicated to the mortgagor or any person liable under a hypothecation, or a Gehan or any other charge, be payable to the Co-operative agriculture and rural development bank, the primary housing co-operative society or the primary credit Co-operative society including primary agricultural credit co-operative society, as the case may be, and such payment shall be valid as if the mortgage, hypothecation, Gehan or any other charge had not been so transferred or assigned; and(b)the Co-operative agriculture and rural development bank, the primary housing Co-operative society or the primary credit Co-operative society including primary agricultural credit co-operative society, as the case may be, shall, in the absence of any such direction communicated to it, be entitled to sue on the mortgage, hypothecation, Gehan or any other charge.
