Bombay Reorganisation Act, 1960 · Chapter VI: Apportionment of Assets and Liabilities
Section 62: Liability as guarantor
Where, immediately before the appointed day, the State of Bombay is liable as guarantor in respect of any liability of a registered cooperative society or other person, that liability shall,—
(a) if the area of operations of such society or person is limited to the territories which, as from that day, are the territories of the State of Maharashtra or of the State of Gujarat, be a liability of that State; and
(b) in any other case, be initially a liability of the State of Maharashtra, subject to such financial adjustment as may be agreed upon between the States of Maharashtra and Gujarat or, in default of such agreement, as the Central Government may by order direct.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 62
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