(a) where any party to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such debenture, issue a renewed debenture in favour of such party,
(b) refuse to renew the debenture until such decision has been obtained, or
(c) after such inquiry as is hereinafter provided and on consideration of the result thereof, declare by order in writing which of the parties is in his opinion entitled to such debenture and may, after the expiration of three months from the date of such declaration issue a renewed debenture in favour of such party in accordance with the provisions of sub-section (1), unless within that period he has received notice that proceedings have been instituted by any person in a Court of competent jurisdiction for the purpose of establishing a title to such debenture.
Section 122 • The Bombay Provincial Municipal Corporations Act, 1949
122. Renewal of debentures.
the-bombay-provincial-municipal-corporations-act-1949-sec-122.json
•
Section 122
{
"act_title": "The Bombay Provincial Municipal Corporations Act, 1949",
"act_slug": "the-bombay-provincial-municipal-corporations-act-1949",
"section_label": "Section",
"section": {
"number": "122",
"title": "122. Renewal of debentures.",
"chapter": null,
"content": "(a) where any party to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such debenture, issue a renewed debenture in favour of such party,\n(b) refuse to renew the debenture until such decision has been obtained, or\n(c) after such inquiry as is hereinafter provided and on consideration of the result thereof, declare by order in writing which of the parties is in his opinion entitled to such debenture and may, after the expiration of three months from the date of such declaration issue a renewed debenture in favour of such party in accordance with the provisions of sub-section (1), unless within that period he has received notice that proceedings have been instituted by any person in a Court of competent jurisdiction for the purpose of establishing a title to such debenture.",
"footnote": "",
"is_definition": false,
"sort_order": 120
},
"prev_section": "121",
"next_section": "123"
}