In this Act, unless the context otherwise requires,-
(a) "appointed day" means the 1st day of January, 1971;
(b) "Code" means the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959);
(c) "holder of agricultural land" in the weaker sections of the people means a holder of land used for purposes of Agriculture not exceeding eight hectares of unirrigated land or four hectares of irrigated land within the State whether as a Bhumiswami or an occupancy tenant or a Government lessee either in any one or all of the capacities together within the meaning of the Code.
Explanation :- One hectare of irrigated land shall be equal to two hectares of unirrigated land and vice versa.
(d) "lender of money" means a person advancing loan to a holder of agricultural land, whether registered under the Madhya Pradesh Money Lenders Act, 1934 (No.
13 of 1934) or not;
(e) "principal money" in relation to a transaction of loan to which a holder of agricultural land is a party means actual sum advanced by way of loan in any of the modes specified in clause (1);
(f) "prohibited transaction of loan" means a transaction in which a lender of money advances loan to a holder of agricultural land against security of his interest in land, whether at the time of advancing the loan or at any time thereafter during the currency of the loan in any of the following modes, namely ;-
(i) agreement to sell land with or without delivery of possession;
(ii) outright sale of land with or without delivery of possession accompanied by separate agreement to re-sell it;
(iii) outright sale of land with or without delivery of possession with a distinct oral understanding that the sale shall not be acted upon if the loan is re-paid;
(iv) outright sale of land with or without delivery of possession with a condition incorporated in the sale deed to re-sell it on re-payment of the loan;
(v) transaction in any modes other than those specified in clauses (i) to (iv) affecting interest in land including a fraudulent transaction or a transaction designed to defeat the provisions of any law regulating money lending or interest, for the time being in force, and includes all those transactions in which a lender of money has after the appointed day but on or before the date of publication of this Act in the Gazette, obtained possession of land of the holder of agricultural land through Court or by force or otherwise or obtained a decree for such possession to wards satisfaction of loan;
(g) words and expressions used but not defined in this Act and defined in the Code or the Transfer of Property Act, 1882 (No. IV of 1882) shall have the meaning respectively assigned to them in the Code or that Act, as the case may be.