Section 130(1) in West Bengal Co-operative Societies Act, 2006
(1)Where a Co-operative agriculture and rural development bank or a housing Co-operative society or a primary Co-operative credit society including primary agricultural credit Co-operative society advances money on a mortgage, hypothecation, Gehan or any other charge out of the funds borrowed wholly or in part from the West Bengal State Co-operative agriculture and rural development bank or the apex housing Co-operative society or a financing bank, as the case may be, such mortgage, hypothecation, Gehan or any other charge shall be deemed with effect from the date of execution thereof to have been transferred by the Co-operative society or the primary co-operative credit society including primary agricultural credit co-operative society to the West Bengal State Co-operative Agriculture and Rural Development Bank or Apex Housing society or the financing bank, as the case may be, and such mortgage, hypothecation, Gehan or any other charge which shall be deemed to have been transferred to the West Bengal State Co-operative agriculture and rural development bank or apex housing society or the financing bank, as the case may be, or shall be deemed to have been assigned to the trustee.
