Section 76(2) in The Chhattisgarh Nagar Tatha Gram Nivesh Adhiniyam, 1973
(2)As from the said date,-(a)all assests and liabilities of the authority shall stand vested in the Municipality in that area and such Municipality shall have all powers necessary to take possession of, recover and deal with such assets and discharge such liabilities;Provided that in cases where the area of such authority falls in different Municipalities the assets and liabilities of the authority shall be distributed among the Municipalities in such manner as the State Government may, by order, determine.(b)any proceeding pending to which the authority was a party shall be continued as if the Municipality was a party thereof in lieu of the authority.Explanation. - For the purposes of this sub-section "Municipality" means a Municipal Corporation constituted under Section 7 of the Chhattisgarh Municipal Corporation Act, 1956 (No. 23 of 1956) or a Municipal Council or Nagar Panchayat constituted under Section 5 of the Chhattisgarh Municipalities Act, 1961 (No. 37 of 1961) as the case may be.
