Amendment status not verified — confirm the current text below against the official source.
Upon the issue of debentures under the provisions of section 119, the mortgaged properties and other assets referred to in sub-section (30 of section 119 held by the 71[State Land Development Bank] shall vest in the Trustee; and the holders of debentures shall have a floating charge on all such mortgages and assets, and on the amount, paid under such mortgages and remaining in the hands of the 71[State Land Development Bank] or of the Trustee.