Section 341E(2) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(2)When a part of a transitional area is constituted to be or is included in any smaller urban area such part shall be deemed to have been excluded from the transitional area specified under section 341A and so much of the properties, fund and other assets vested in the Nagar Panchayat of that transitional area and such of the rights and liabilities of such Nagar Panchayat as may be allocated by the State Government by an order in this behalf, shall vest in and devolve on the Council for such smaller urban area.
