(1) Where before the appointed date an inamdar has created any right in any land which vests in the State Government, other than land registered under section 8 or section 9 (whether by way of lease or otherwise) 11 including rights in any mines or minerals qurries, fisheries, forests or ferries, the transaction shall be deemed to be valid and all rights and obligations arising thereunder on or after the appointed date shall be enforceable by or against the State Government:
Provided that the transaction was not void or illegal under any law in force at the time:
Provided further that where such right was created in any land, unless it relates to land registered under section 8 or section 9, the State Government may if in its opinion it is in the public interest so to do. by giving notice to the person concerned, terminate the right with effect from such date as may be specified in the notice, not being earlier than three months from the date of the notice.
(2) The person whose right has been terminated by the State Government under the second proviso to sub-section (1) shall be entitled to an amount from the State Government equal to the estimated net income of such person from the land for the unexpired portion of the period for which the right was created having regard to all the circumstances of the case.
CHAPTER III AMOUNT PAYABLE