Where a Gehan is created or mortgage or hypothecatiOn is executed m favour of the Agricultural Development Bank or a primary bank for payment of pnor debts of the person who created the Gehan or executed the mortgage or hypothecatiOn, such bank may, notwithstandmg the provisiOns of sect1ons 83 and 84 of the Transfer of Property Act, 1882, (Central Act 4 of 1882), by not1ce 111 wnting, require any person to whom any SUCh debt IS due, tO reCCI\ e payment of such debt or part thereof from the bank at Its reg1;:;tered office within such period as may be specified m the not1ce, and If any such person fails to receive such notice or such payment, such debt or part thereof, as the case may be, shall cease to carry mterest from the expiratiC!n of the penod specified m the notice, except m cases where such person proves to the satisfaction of the Board or the committee of the pnmary bank, as the case may be, that the failure to receive notice or payment was due to causes beyond his control:
Provided that where there is-a dispute as regards the amount of any such debt, the person to whom such pebt IS due shaH be bound to receive payment, of the amount offered by the' bank towards the - -------------------------- 150 debt, but such receipt shall.not pr-eJudice the right, if any, of such person to recover the balance claimed by him.