Section 132: Powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient

Q: What does Section 132 of The Multi-State Co-operative Housing Societies Act (TMSCHSA) deal with?

Section 132 TMSCHSA pertains to "Powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient". It is part of the The Multi-State Co-operative Housing Societies Act, a legislation enacted by the Parliament of India. Section 132 of The Multi-State Co-operative Housing Societies Act (TMSCHSA) governs powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient. As verified on 19 May 2026.

Q: Is Section 132 TMSCHSA still in force?

Yes, Section 132 of the The Multi-State Co-operative Housing Societies Act is currently in force across the Republic of India.

Q: What is धारा 132 TMSCHSA?

धारा 132 TMSCHSA is the Devanagari Hindi reference for Section 132 of the The Multi-State Co-operative Housing Societies Act. Section 132 of The Multi-State Co-operative Housing Societies Act (TMSCHSA) governs powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient. As verified on 19 May 2026.

Q: What is Dhara 132 TMSCHSA?

Dhara 132 TMSCHSA is the Roman Hindi reference for Section 132 of the The Multi-State Co-operative Housing Societies Act. "Dhara" means "Section" in Hindi. Section 132 of The Multi-State Co-operative Housing Societies Act (TMSCHSA) governs powers of [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] where mortgage property is destroyed or security becomes insufficient. As verified on 19 May 2026.

Q: How to cite Section 132 of The Multi-State Co-operative Housing Societies Act?

Cite as: "Section 132, The Multi-State Co-operative Housing Societies Act (TMSCHSA)" in legal briefs. For academic writing, use the BlueBook format: The Multi-State Co-operative Housing Societies Act, § 132 (India).

Law on Tips Editorial Board

(1)

Where any property mortgaged to a [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964] is wholly or partially destroyed, or the security is rendered insufficient for any other reason, and the mortgagor, having been given a reasonable opportunity by the bank of providing further security enough to render the whole security sufficient, or of repaying such portion of the loan as may be determined by the bank, has failed to provide such security or to repay such portion of the loan, the whole of the loan shall be deemed to fall due at once, and the bank shall be entitled to take action against the mortgagor under Section 133 or Section 134 for the recovery thereof.

(2)

A security shall be deemed insufficient within the meaning of this section, unless the value of the mortgaged property exceeds the amount for the time being due on the mortgage by such proportion as may be specified in the rules or the bye-laws of the [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964].