Section 118(2) in Punjab Panchayat Samitis and Zila Parishads Act, 1961
(2)On the abolition of a district board under sub-section (1), all assets vesting in it and all liabilities subsisting against it on the date of abolition, under the aforesaid Act or any other law for the time being in force, shall devolve on the Panchayat Samitis functioning in the district or on the Zila Parishads thereof or on both to such extent and in such manner as the Government may by order, direct.
