Power of [an Agricultural Development Bank] to receive moneys and grant discharges.

Notwithstanding that [a mortgage created in favour of] [an Agricultural Development Bank] has been transferred, or is deemed under the provisions of section 94 to have been transferred, to the [Central Agricultural Development Bank]. (a) all moneys due under the mortgage shall, in the absence of any specific direction to the contrary issued by the Board or Trustee and communicated to the mortgage or be payable to the [Agricultural Development Bank] and such payment shall be as valid as if the mortgage had not been so transferred; and (b) the [Agricultural Development Bank] shall, in the absence of any specific direction to the contrary issued by the Board or Trustee and communicated to the [Agricultural Development Bank] be entitled to sue on the mortgage or take any other proceeding for the recovery of the moneys due under the mortgage.