Section 128 in The Maharashtra Co-Operative Societies Act, 1960
128. [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] to receive money and give discharge.
- Notwithstanding anything contained in section 121, all moneys due under the mortgage shall unless otherwise directed by the [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] or the Trustee and communicated to the mortgagor, be payable by the mortgagor to the [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], and such payment shall be as valid as if the mortgage had not been so transferred and the [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] shall in the absence of specific direction to the contrary, issued by the [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] or Trustee and communicated to the bank, be entitled to sue on the mortgage or take any other proceeding for the recovery of the moneys due under mortgage.
