Section 147 in Uttarakhand Co-Operative Societies Act, 2003
147. Mortgage not to be questioned on insolvency of mortgagor.
- Notwithstanding anything contained in any law relating to insolvency, a mortgage executed in favour of Uttarakhand State co-operative Bank shall not be called in question on the ground that it was not executed in good faith for valuable consideration or on the ground that it was executed in order to give the Uttarakhand State c-operative Bank a preference over other creditors of the mortgagor.
