(a) notice in writing requiring payment of such mortgage money or part thereof has been served upon-
(i) the mortgagor or each of the mortgagors,
(ii) any person who has any interest in or charge upon the property mortgaged, or in or upon the right to redeem the same so far as is known to the bank, (iii) any surety for the payment of the mortgaged debt or any part thereof, and (iv) any creditor of the mortgage who has in a suit for administration of his estate obtained a decree or sale of the mortgaged property, and (b) no payment of such mortgaged money or part thereof, has been made till the expiry of three months after service of the notice. (3) If the [Primary Land Development Bank] fails to take action against the mortgagor under Section 132, Section 133 or under this section, the [State Land Development Bank] may direct it to take appropriate action and where no action is taken by the [Primary Land Development Bank] , the [State Land Development Bank] , may take such action and where the [State Land Development Bank] fails to take action, the 'trustee may direct it to take such action and where no action is taken thereupon by the [State Land Development Bank] , the Trustee may take such action.
(iii) any surety for the payment of the mortgaged debt or any part thereof, and
(iv) any creditor of the mortgage who has in a suit for administration of his estate obtained a decree or sale of the mortgaged property, and
(b) no payment of such mortgaged money or part thereof, has been made till the expiry of three months after service of the notice.
Section 134 • The Gujarat Co-Operative Societies Act, 1961
134. Sale of mortgaged property.
the-gujarat-co-operative-societies-act-1961-sec-134.json
•
Section 134
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"act_title": "The Gujarat Co-Operative Societies Act, 1961",
"act_slug": "the-gujarat-co-operative-societies-act-1961",
"section_label": "Section",
"section": {
"number": "134",
"title": "134. Sale of mortgaged property.",
"chapter": null,
"content": "(a) notice in writing requiring payment of such mortgage money or part thereof has been served upon-\n(i) the mortgagor or each of the mortgagors,\n(ii) any person who has any interest in or charge upon the property mortgaged, or in or upon the right to redeem the same so far as is known to the bank, (iii) any surety for the payment of the mortgaged debt or any part thereof, and (iv) any creditor of the mortgage who has in a suit for administration of his estate obtained a decree or sale of the mortgaged property, and (b) no payment of such mortgaged money or part thereof, has been made till the expiry of three months after service of the notice. (3) If the [Primary Land Development Bank] fails to take action against the mortgagor under Section 132, Section 133 or under this section, the [State Land Development Bank] may direct it to take appropriate action and where no action is taken by the [Primary Land Development Bank] , the [State Land Development Bank] , may take such action and where the [State Land Development Bank] fails to take action, the 'trustee may direct it to take such action and where no action is taken thereupon by the [State Land Development Bank] , the Trustee may take such action.\n(iii) any surety for the payment of the mortgaged debt or any part thereof, and\n(iv) any creditor of the mortgage who has in a suit for administration of his estate obtained a decree or sale of the mortgaged property, and\n(b) no payment of such mortgaged money or part thereof, has been made till the expiry of three months after service of the notice.",
"footnote": "",
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