(1) If after the enquiry, the Sub-Divisional Officer is satisfied that-
(i) the transaction of loan is not a prohibited transaction of loan he shall dismiss the application or close the proceedings;
(ii) the transaction of loan in substance is a prohibited transaction of loan he shall declare such transaction to be void and shall-
(a) pass an order setting aside the transfer of land to the lender of money and consequently restoring the possession of land to the holder of agricultural land, or
(b) where in his opinion it is not feasible to restore the possession of land, pass order directing the lender of money to pay the difference of price under sub-section
(2), and
(c) pass such other consequential orders as may be necessary :
Provided that nothing in this clause shall prejudice the right of the lender of money to enforce his right to recover the loan advanced by him to the holder of agricultural land under such transaction by due process of law within a period of three months from the date of final declaration of prohibited transaction of loan void notwithstanding anything contained in the Limitation Act, 1963 (No. 36 of 1963).
(2) Where for any reason whatsoever to be recorded in writing it is not possible to restore such land to the holder of agricultural land, he shall fix the price of such land, in such manner as may be prescribed, which it would have fetched at the time of transfer and order the lender of money to pay the difference, if any, between the price so fixed and the amount actually advanced to the holder of agricultural land together with interest at the current bank rate for the period upto the date of payment, within a period of six months.
(3) If any order is passed under sub-section (2), the Sub-Divisional Officer may also determine in such manner as may be prescribed, the net income which has accrued to the lender of money during the period land remained with him and order the lender of money to pay the same to the holder of agricultural land within a period of 30 days.
(4) If the lender of money fails to deliver the possession of the land to the holder of agricultural land consequent on the setting aside the transfer under clause (ii) of sub-section (1), he shall be deemed to be in unauthorised possession of such land from the date of setting aside of the transfer and the provisions of Section 248 of the Code shall mutatis mutandis apply thereto as they apply to the unauthorised possession of Government land.
(5) If the lender of money fails to pay-
(i) the difference of price ordered to be paid under sub-section (2); or
(ii) the net income determined under sub-section (3), within the time specified in sub-section (2) or sub-section (3), as the case may be, the same shall be recoverable as an arrear of land revenue and the amount so recovered shall be paid to the holder of agricultural land.