Default of Mumbai Corporation in collecting or paying cess

(1) If the Mumbai Corporation makes default in the collection or payment to the State Government of any sums due in respect of the cess, the State Government may, after holding such inquiry as it thinks fit, fix a period of the collection or payment of such sum. (2) If the collection or payment of the sum is not made within the period so fixed, the State Government may, notwithstanding anything contained in any law relating to the funds vesting in the Mumbai Corporation or any other law for the time being in force, direct any bank in which any moneys of the Mumbai Corporation are deposited or the person in charge of the Government Treasury or of any other place of security in which the moneys of the Mumbai Corporation are deposited to pay such sum from such moneys as may be standing to the credit of the Mumbai Corporation in such bank or, as the case may be, in the hands of such person or as may from time to time be received from or on behalf of the Mumbai Corporation by way of deposit by such bank or person; and such bank or person shall be bound to obey such order. (3) Every payment made pursuant to an order under sub-section (2) shall be sufficient discharge to such bank or person from all liability to the Mumbai Corporation in respect of any sums so paid by it of him out of the moneys of the Mumbai Corporation so deposited with such bank or person.