20. Mortgage not to be questioned on insolvency of mortgagor. - Notwithstanding anything contained in any law relating to insolvency, a mortgage executed in favour of a 1[Gram Vikas Bank] shall not be called in question on the ground that it was not executed in good faith for valuable consideration or on the ground that it was executed in order to give the 1[Gram Vikas Bank] a preference over other creditors of the mortgagor.
Source footnotes
1. Subs. by U.P. Act No. 19 of 1994आगे पढ़ें / Continue reading
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Section 1 · Short title, extent and commencementSection 2 · DefinitionsSection 3 · Number of Gram Vikas BanksSection 4 · Appointment of Trustee and his powers and functionsSection 5 · Trustee to be a Corporation SoleSection 6 · Issue of debentures by the BoardSection 7 · Vesting of property in Trustee and Debenture -holders charge on the assetsSection 8 · Guarantee by State Government of Principal and interest of the money to be borrowed by means of debentures or otherwiseIndia Code, Government of India. Text fetched 16 Oct 2026. Source metadata reports last modification: 2024-03-15. Check the linked official text and subsequent notifications when applying a provision.