State Act
123
Section 123. Liability in respect of debenture renewed.
The Maharashtra Municipal Corporations Act
Act no. LIX of 19491949In forceMaharashtra (State Act)
123. Liability in respect of debenture renewed.— (1) When a renewed debenture has been issued under section 122 in favour of any person, the debenture so issued shall be deemed to constitute a new contract between the Corporation and such person and all persons deriving the title thereafter through him. (2) No such renewal shall affect the rights as against the Corporation of any other person to the debenture so renewed.