Vesting of property in trustee and debenture holder’s charge on assets.

Vesting of property in trustee and debenture holder’s charge on assets. Upon the issue of debentures under the provisions of section 119, the mortgaged properties and other assets referred to in sub-section (30 of section 119 held by the State Land Development Bank shall vest in the Trustee; and the holders of debentures shall have a floating charge on all such mortgages and assets, and on the amount, paid under such mortgages and remaining in the hands of the State Land Development Bank or of the Trustee.