Section 147(1) in The Maharashtra Village Panchayats Act, 1959
(1)When a Panchayat has been dissolved and reconstituted or established under section 146 and so much of the village fund and other property vesting in the Panchayat which has dissolved shall vest in, and such portion of the debts and obligations shall be transferred to, the reconstituted or established Panchayat as the Commissioner may, by order in writing, direct.
