Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in section 124, all moneys due under the mortgage shall, unless otherwise directed by the 85[State Land Development Bank], or the Trustee and communicated to the mortgagor, be payable by the mortgagor to the 84[Primary Land Development Bank] and such payment shall be as valid as if the mortgage had not been so transferred under that section and the 84[Primary Land Development bank] shall in the absence if any specific direction to the contrary issued by the [State Land Development bank] or the trustee and communicated to it be entitled to sue on the mortgage or take any other proceeding for the recovery of the moneys due under the mortgage. Restrictions of lease. XXXII of 1956. Section 8 of Act XXXII of 1956 to apply to mortgages to 82[Land Development Banks], subject to certain modifications. Power of 84[Primary Land Development Bank to receive money and give discharge. 1962: Guj. X] Gujarat Co-operative Societies Act, 1961