State Act

The Maharashtra Co-operative Societies Act, 1960

10[122. Registration of Mortgage, lease, etc., executed in favour of 11[Co-operative Agriculture and Rural Multipurpose Development Bank].— Notwithstanding anything contained in the Registration Act, 1908 (XVI of 1908), it shall not be necessary to register a mortgage, lease, hypothecation deed, loan bond, surety bond, guarantee deed, promissory note or loan agreement executed in favour of the 12[Co-operative Agriculture and Rural Multipurpose Development Bank], provided the bank sends, within such time and in such manner as may be prescribed a copy of such instrument to the concerned registering authority ; and on receipt of the copy the registering authority shall file the same in the relevant books prescribed under the Registration Act, 1908 (XVI of 1908): Provided that, any such instrument executed in favour of the bank before the date of publication of the Maharashtra Co-operative Societies (Amendment) Act, 1989 (Mah. V of 1990) in the Official Gazette, may be sent to the concerned registering authority within the period of three months from such date.]