Amendment status not verified — confirm the current text below against the official source.
12. Mortgages executed in favour of 1 [Gram Vikas Bank] to stand vested in 1 [UttarPradesh Gram Vikas Bank]. - The mortgages executed in favour of, and all other assets transferred to a 1 [Gram Vikas Bank] by the members thereof, before or after the commencement of this Act, shall, with effect from the date of such execution or transfer, be deemed to have been transferred by such 1 [Gram Vikas Bank] to the 1 [Uttar Pradesh Gram Vikas Bank] and shall vest in 1 [Uttar Pradesh Gram Vikas Bank].