Amendment status not verified — confirm the current text below against the official source.
Mortgages and other instruments not to be questioned on insolvency of mortgagors 3or executants.— Notwithstanding anything contained in the Presidency-Towns Insolvency Act, 1909, or the provincial Insolvency Act, 1920 or any corresponding law for the time being in force, a mortgage or any other instrument supporting the loan executed in favour of an Agriculture, and Rural Development Bank, shall not be called in question in any insolvency proceedings on the ground that it was not executed in good faith or valuable consideration, or on the ground that it was executed in order to give the Bank a preference over other creditors of the mortgagor or of the executants of the instrument.