law: Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970  
  21.Repeal and savings.-  
  (1) The Banking Companies (Acquisition and Transfer of
  
  Undertakings) Ordinance, 1970 (3 of 1970), is hereby repealed.
  (2) Notwithstanding such repeal and notwithstanding any judgment,
  
  decree or order of any court or tribunal,-----
  (a) any action taken, or purported to have
  
  been taken, or anything done, or purported to have been done, between the 19th
  
  day of July, 1969, and the 10th day of February, 1970, by any corresponding new
  
  bank purported to have been constituted under the Banking Companies
  
  (Acquisition and Transfer of Undertakings) Ordinance, 1969 (8 of 1969), or the
  
  Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969 (22 of
  
  1969), or by any person purporting to act on behalf of such bank and any right,
  
  obligation or liability acquired or incurred, between the said dates, by or on
  
  behalf of such corresponding new bank shall be deemed to have been taken, done,
  
  acquired or incurred under the provisions of this Act by or on behalf of the
  
  corresponding new bank constituted thereunder.
  (b) Any action taken, or purported to have
  
  been taken, or anything done, or purported to have been done, between the 10the
  
  day of February, 1970, and the appointed day, by an existing bank or by any
  
  person acting on behalf of such bank, and any right, obligation or liability
  
  acquired or incurred, between the said dates, by or on behalf of such existing
  
  bank shall be deemed to have been taken, done, acquired or incurred under the
  
  provisions of this Act by or on behalf of the corresponding new bank
  
  constituted thereunder :
  (c) Anything done or any action taken,
  
  including any order made, notification issued or directions given under the
  
  Banking Companies (Acquisition and Transfer and Undertakings) Ordinance, 1970,
  
  shall be deemed to have been done, taken, made, issued or given, as the case
  
  may be, under the corresponding provisions of this Act.
  (3) Any suit, appeal or other proceedings of
  
  whatever nature instituted on or after the 19th day of July, 1969, by or
  
  against a corresponding new bank purported to have been constituted by the
  
  Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 (8
  
  of 1969), or the Banking Companies (Acquisition and Transfer of Undertakings)
  
  Act, 1969 (22 of 1969), shall not abate, be discontinued, or be, in any way,
  
  prejudicially affected by reason of the expiry of the said Ordinance or the
  
  invalidation of the said Act, as the case may be, but such suit, appeal or
  
  other proceedings may be continued, prosecuted and enforced by or against the
  
  corresponding new bank as if such suit, appeal or other proceeding had been
  
  instituted by or against the corresponding new bank constituted under this Act.