(1) Where any land is acquired by the Government under the Land Acquisition Act, 1894 (Act 1 of 1894), the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (Central Act 30 of 2013) or any other law, dealing with acquisition of land, for the time being in force and the acquired land has been already marked out and measured and a plan has been made of the same, such land as marked in such plan shall be deemed to have been validly acquired and vested in the Government free from all encumbrances, and the -3- Government shall pay compensation thereof to the interested person, notwithstanding the fact that the details of such land such as area, survey number or the details of the interested person such as name, address, etc., is, not specified or erroneously specified in the notification, declaration, award, notice or order issued under the said Acts.
(2) Any dispute arising out of the provisions contained in sub-section (1) shall be referred to the Authority constituted under section 5. The decision of the Authority shall be final and binding.
(3) In the event any interested person fails to claim compensation, the Collector shall cause compensation payable under sub-section (1) to be deposited in the Court in a separate account.