Section 96(1) in The Maharashtra Cooperative Societies Rules, 1961
(1)The [State Co-operative Agriculture and Rural Multipurpose Development Bank] [Substituted 'State Land Development Bank' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] may, on the application of a [Co-operative Agriculture and Rural Multipurpose Development Bank] [Substituted 'Land Development Bank' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] and under circumstances in which the power of sale conferred by Section 133 can be exercised, appoint any person in writing to be a Receiver of the produce and income of the mortgaged property or any part thereof and such Receiver shall be entitled either to take possession of the property or collect its produce and income, as the case may be, to retain out of any money realised by him, his expenses of management including his remuneration, if any, as fixed by the [State Co-operative Agriculture and Rural Multipurpose Development Bank] [Substituted 'State Land Development Bank' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] and to apply the balance in accordance with the provisions of sub-section (8) of Section 69-A of the Transfer of Property Act, 1882.
