section 123
Liability in respect of debentures renewed.
The Gujarat Provincial Municipal Corporations Act, 1949Infrastructure1949526 of 558 sections available
Statutory text
(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 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.
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