law: National Bank for Agriculture and Rural Development Act, 1981 
  29. Amounts and
  
  securities to be held in trust.
  1.     
  
    Any
  
  sums received by a borrowing institution in repayment or realisation of loans
  
  and advances refinanced either wholly or partly by the National Bank shall, to
  
  the extent of the accommodation granted by the National Bank and remaining
  
  outstanding, be deemed to have been received by the borrowing institution in
  
  trust for the National Bank, and shall accordingly be paid by such institution
  
  to the National Bank, as per the repayment schedule fixed by the National Bank.
  2.     
  
    Where
  
  an accommodation has been granted to a borrowing institution, all securities
  
  held, or which may be held, by such borrowing institution, on account of any
  
  transaction in respect of which such accommodation has been granted by the
  
  National Bank, shall be held by such institution in trust for the National
  
  Bank.
  1.      Subs. by Act No.55 of
  
  2000, S.13
  2.      Ins. by S.14 ibid
  3.      Subs. by S.15 ibid
  1.     
  
  
  2.     
  
  
  3.     
  
    Notwithstanding
  
  anything to the contrary contained in any law for the time being in force,
  
  where a liquidator is appointed for winding up a borrowing institution, it
  
  shall be the duty of the liquidator to forthwith pass on to the National Bank
  
  the sums recovered by the borrowing institution or the liquidator, as the case
  
  may be, in repayment or realisation of the loans and advances refinanced either
  
  wholly or partly by the National Bank to the extent the refinance is
  
  outstanding and the National Bank shall be entitled to enforce the securities
  
  held by the borrowing institution in trust for the National Bank as if every
  
  reference to the borrowing institution in any contract, security or other
  
  document obtained by borrowing institution is a reference to the National Bank
  
  and accordingly, the National Bank shall be entitled to recover the balance
  
  sums due under such loans and advances from the constituents of borrowing
  
  institution and any discharge given by the National Bank to such constituent
  
  shall be a valid discharge and the liquidator shall, on demand made by the
  
  National Bank, deliver to it all such contracts, securities and other
  
  documents, for due enforcement thereof by the National Bank.
  Explanation- For the
  
  purpose of this sub-section, the word “liquidator” shall include liquidator or
  
  a provisional liquidator or any person or authority entrusted with the duty of liquidating
  
  the borrowing institution.