Madhya Pradesh Co-operative Agriculture and Rural Development Bank Act 1999

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(i) oH MADHYA PRADESH ACT No. 20 oF 2000.

MADHYA PRADESH SAHAKARI KRISHI AUR GRAMIN VIKAS BANK ADHINIYAM,

1999.

TABLE OF CONTENTS Sections :

CHAPTER-I—PRELIMINARY

1. >" Short tine, eaten and commence, _ .

2. _ Definitions. a. 3

3. Conferrai of Registrar's Power.

CHAPTER FUNDS AND RESOURCES. pe dome: . Power to-raise funds. . pwnd of: —_

5. Issue of debentures... ..° > .;

6. ise of Bands ad ising Goes and Reps. me 7 ingment and powers ¢ of Arusiee. P ae a Government Guarantee for Bonds, 5, sitoth, .

9. _ Guarantee Fund. oe a FR* Sera SEbbifEB In Band: |B Re ee Te nes HW. Power of Siate Development Bank to make Regulations for the purpose of this Chapter. wads " CHAPTER-I--LOANS .

PME cnt pe oe a Tat 0s ATs Av saribue ster fhe oo 12, Power to Advances Loans. | tet

13. Who can be Granted Loans and Advances. +

14. ‘Rugulation of Certain Categories of Member.

15. Security for Loans.

16. * Disposal of Application for Loan: o

17. Order Granting Loan conclusive of Cenain Matters.

18. Application for loan from a District Development Bank-to. be te supponed by Affidavit.

19... Priority of claims over securities. = om

20. Transfer and vesting of Security with State Development Bank, al. Moncy Borrowed for Development of land.

22, Omitted.

' CHAPTER-IV—DISTRAINT AND SALE OF PRODUCE

23. Distraint when to make.

24, - Distraint how to make.

25. Sale of property distrained.

CHAPTER-V—-SALE OF PROPERTY WITHOUT INTERVENTION OF COURT

26. Power to sell properly charged without intervention of Court.

27. Application for sale and manner of sale.

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4h, ug, Kis, WW, fasna ait Yfe.

faq aray a faa.

fra war-va a fear ATA.

wala a Few, fede at fafa sik sat vies.

eo a Be afedos ae sh.

fiewa aifteent at Fah ‘fama 4 sofa ea at a ws fara He ut fren fine ae a afin.

Rar e—rert a ate, wings 8 fing me que w fe ar sifemt eaferra wire Hf apfe aea ar fawre anes octet.

wee feanen serene A wera wet et ae.

wings ee Hf reniea woe & facies a see ae et ae We Freer.

aire SY wrt art oft cemeat at sexta Fe st Te.

Tq forever em ay five fiver Sex gre Cemetta a regener, 7 wre we atte fafeara Tater eet a, fine fee de at fs, Sees wi a aor Pro Se 8 ae afl eh Fal a Pre Fra ed ga ed na tw : "at Safest on aa.

aaa a, x At 4 OM] ETT.

Garrat St Wie, wate sam stata, wt Sat & aftent ah fara afteent feowa A ateit set ere.

Sire nd ed US Ree OT otc aE Fae aH Ry ss ee en Prat es gre ere eT era wert wwe wT.” I id dh & tei tv oe 846 & afahrm a. Ba Ge © fiten ferere Set wee sere sean Wea FE ary Wh, arareal a1 ar.

fen war at ute.

rafter ect ak fae ar cr fee A Fran aft orga.

ere ding rac qrvbreaag yeh ds fer esr teeta oa} eM a ea i ea he for oe se = di) _ i a e

38.

29.

i).

31.

Bh a

33.

3d.

a3.

Confirmation of Sale.

Distribution of sale proceeds Grant of sale cerlificate.

Possession of property.

Right of State Development Bank or District Development Bank to Purchase property at sate.

Appointment and power of receiver.

Title of purchaser not lo be impeachable.

Appointment of Sale Officer.

eeecrre:

: - CHAPTER-VI-MISCELLAN {ISCELLANEOUS Powersof Site Developmen BaorDiatDsekpmenBanin aso insufficient .

security or misutilisation of logn.

Powers of State Development Bank and Trusee to Direct dissin and sale of produce, -: aiid-nale of property: °° Le Banks' right to improvements effected to tke securhy, Deduction from sale proceeds of agricutural produce in cortain cates.

Security not {0 be quéstioned in Insolvency proceedings. - Restriction on power to encumber or transfer the property offered as s security.

Power to susftinon -winiesses and requisition dociment.

Registration of document by Sue Development Bank or: District Development Bank, "Power of Distriét Development Bank to receive-money-and grant-valid discharges.

Proof of documents or entries in documents.’ - Application of Chapters IIT, IV and V to loans advanced by by District Development Banks from fund not borrowed from State Development Bank.

Services of notices. - - Applications of provisions of transfer of Property Act, 1882 to notices.

Officers of Banks snd sale officers not to Bid at sales.

Officers, employees or persons tobe public's servant, and their indemnity for Acts done in Good faith: » Delegation of powers by the Sine Development Bank.

Openiag of Branches.

Special provisions for security furnished by Karta of a Hindu Undivided Famity.

Section 8 of Act 32 of 1956.10 apply to District Desslopment Baiik subject to Certain modifications.

Congnizance of offences.

Power to make rutes. ;

State Development Bank's power of supervision and of making regulations.

Repeal and savings.

* {ii} Teae sitar aie yo Wy Wooo, meamder weeartt aie atte uniter Perera te afer, 2998.

[fae 5 sere, 2000 Tent Bt aA we ee: appa “meqee cata (sree) A feria 13 Jere, 2000 Fl warare yanferr = 7g.)

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am - (9) Foe fea sept ote ae Rh me aE HO TF ern COT then AOE AEA eS

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e MADHYA PRADESH ACT No. 20 oF 2000.

THE MADHYA PRADESH SAHAKARI KRISHI AUR GRAMIN VIKAS BANK ADHINIY AM, 1999.

[Received the assent of the President on the 5th July, 2000; assent first published in the "Madhya Pradesh Gazette (Extra-ordinary)" dated the [3th July, 2000.]

. An Acttofacilitate amore efficient working of the Co-operative Agricaltureand Rural Development Cele ease, a them fa Play a greater devélopmental role both in "farming and non-farming sectors. ~ ‘Be il enacted by the ‘Madhya: Pradesh Legislature in 1 the Fiftieth Year of the, Republic of India aig” Follows: —""" "CHAPTER I—PRELIMINARY id This Act may be called the Madhya F Pradesh Sahakari Krishi Aur Gramin Vikas Bank Adhinivam. 1999. ;

12) extends tothe whole of the State of Madhya Pradesh, owe _43y It shall come into force on such date as the State Government may, by hotification; appoint.

2. (I) In this Act, unless the context otherwise requites,— Sheet title, Extent : {a} "Board" means the Board of Directors of the Madhya Pradesh State Co-opeive Agriculture and Rural Development I Bank. Limited;

tb) * “State Development Bank" means, . the Madhya. Pradesh State Co- “operative Agriculture and Rural Development Bank Limited, registered or deemed to-be registered under the Madhya Pradesh Co-operative Societies Act, 1960 (No 1? of 1961);

(c) "District Development Bank" means a district Co-operative Agriculture and Rural - Development Bank registered or deemted to be registered under the Madhya Pradesh Co-operative Societies Act. 1960: (No 1? of 1961);

td} “Loanee". means the person to whom loan is advanced by the State Development Bank or a District Development Bank on security as provided i in sub-section (1} of section 1 . {c} “National Bank" means National Bank for Agriculture and Rural | Development established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (No. Gof 1981), «. corn i the repayment of joan:

(2) “Sinking Fund” means a fund established and maintained by the State Development Bunk for redemption of ordinary debentures;

(h} “Trustee” means the Trustee referred to in section 7.

l if } “Security” means the security as refered to in t sub-section (laf section 15:10 secure , tian at Vitara ar Weer far Sr.

Pet rh a frien wr elf Pasar

(2) Fwel ath afteahertl &, st 3a afefrm a wae € atk vad ofonfire ae € faegq sen Beard dara aftr, ceo (MA we Bet) ht Tab aes wary ay Frat F ofa F, aa ad ein at se afafren Fo ash fer feu me F.

2. Ts TER, SETA om, AEN & aire feat afrant a sept ws & fey a sa fret fatiide um 3 fo carer tet afl a aa @ feet afte ar athe aac te eed a a a fret atten a Fe afatrem grr wm see aetT then Rt yew St we Foo za oifrdiaa fey ma € wa aI TER, Ba fee ends TY St oe ae Pf wed & fee Fg me ah sere fii ake darn x, meen wear sae afte, wrGo (aso Te tNet) ara Fd a HA Re tf, am Pre es cr ee se ari & ate ee ara Bares wary ae Pre & avers wa FI 4 | (fear, Ca) wan,

(5) 3aT;

(a) fds;

(% Far; ak aR;

* mem © fafai. yer wT.

&. (2) m8 farare He, rere att gee fs fi fet we fir —

(i). det sree sh era oh ct we we wh aed, sab BO afte:

Re a Pre: aA Sa aR wer a afte sfeyfeat a sae ero ct ae aa anal a ee go & awa & ae gush ante ot akan ema feet rr firera fe ei arm sufteat att vfryfrat wat eT;

CQ) weer age five fate & ands, genfeefs, wenfea, eet ar afor atte THT TAT BRI Fe Wats & fer sapien feet sett a1 ar Prats Pera ven 8 & yates & fee teh coer venga & wa Ke a0 as att a anferit afin ar arte far el srenatval & fore, wt ae eet aAy, a TAT.

(a). Freres at ae ance Ps my Rea ee aA Ret at a as a fara .

we, Ea sed ee ea fear eck fesse at ates & fore Fee endef . WH ATE BG, oo (9) cpm fers ra Pie Fett eaten en Peat eb aare wata e wintry Te Se arena aR TTT (4) a BE (a) F Falke weed weg ves Males Fe VA ath See an EE RE RH TR Ree A i aah Wo a ete coe a 8 as amet Bhi: i "at ity Cx) el fet it es Aue 0 Fre ro fr ae ee fre BRT STURT (t) A fates wets & for Srifha fetal ox ge vier afk feet ot aoe cada can, sre (3) H He ae ah He VHA, fey fees ve wa cen a ter am wh dust % sila 78 t, sa ahr ae, St wes GET BO TTI (2) & ah -anphiin BY ary, aafien eT Ort.

i t e (21 Words and expressions used in this Act and not defined herein but defined in the Madhya Pradesh Co-operative Societies Act, 1960 (No 17 of 1961), and the Rules made thereunder, shall have the meaning assigned to them in that Act.

3. The State Government may, by notification, for the whole or for any specified part of the Suite, appoint any officer sub-ordinate to the Registrar to exercise afl or any of the powers and to periorm all of any of che duties, conferred and imposed on the Registrar by or under this Act subject to such controt as the State Government may direct.

CHAPTER-I—FUNDS AND RESOURCES 4, Notwithstanding anything contained in the Madhya Pradesh Co-operative Societies An, 1960 ‘No. 17 af 1961), the State Development Bank may, with the prio approval of the State Government and subject 10 the Rules made under this Act, raise funds i through ’ fa) Debentures:

th) . Bonds;

“fc Loans;

(d) Deposits;

(e) Donations: and:

in Grants.

5.1) With the previous sanction of the State Government and the trustee, the State Development Bank may issue debentures of one or more denominations § for—

(i) such periods and at such rates of interest a it muy deem expedient against one oF "more securities held or partly held-o¥ partly be acquired or ottier assets aken'by it and other assets and securities of District Devélopent Bank transferréd or deemed 1c have been transferred to it under the provisions of section 20;

tii} lhe purpose of providing loans to ‘a company or any other body corporate established, registered or constituted, as the case may be; under any law for the time being in force and approved for that purpose by the State Government, on the strength of such Goverament Guarantee and. with or without other securities and other assets, for such periods as it may deem expedient.

(2) The State Development Bank shall have the right to call ia, ‘at any time, any of the :- debentures in advance of the date fixed for redemption after issuing a notice itr such manner as it may prescribe to the debenture holders.

2)The: siusbamount due.on the debentures issued by the State Development ‘Bank, and outstanding at any time, shall not exceed the aggregate of the amount duc on the securities and other assets and Government Guarantee referred to in clause (it) of sub-section (1) and the amounts paid thereunder and remaining with | the State Development Bank or the Trustee at such time.

-44)-Whete debentures are issued otherwise than against Torpages held, the total amount due on debeatures issued by the State Development Bank for the purpose specified in sub-section (1) and outstanding at any lime shall not exceed the tolal amount as calculated under sub-section (3) increased by such portion of the amount obtained an the debentures as is not covered by mortgages to such exlenl as may be approved by the State Government under sub-section (1).

2 Couferral of Regstrar's Power to raise Fends.

issue of meat or Prvittre Fever Sr AS aay Gr TRA Oe UT fy ATG, eT TT aR St yh S eee ay Fea ae TTT ot ee fr gaa val & Ea a FA sae Pritts fer aA at ate 2 tel serafe ot senate =, oI canto Pre atte yifarat, Pedtrartt, aber _afre auntt & fare RT Bl.

(2) WI GEM, «a feera fe att art 8 nee wet & war Tang Ff safer gre wen .

&. (2) 7 free aa ta Pedi a seal & sea wea ge, Sh aie fad dae a TE oncta food dam usta dH gre aphfea Bt aT, aaa et aA oH afrdea A:

Wey Wee ferare He tees eal Bi Oe Bia 4, atl ae fates we, Gear St & TaN, Ses ig adie shor van ar ofaders, ca wert Fran arerafla a aerated & oe fart at ara ee wer.

(2) Tom fare ace gat ar fel are RR, wha, virda Rad Ss a bad va Pa eral . A stead om agit ot and curd a & ae (@) am @ Prd & ake Fa ew o. (4) nage fedeat erat & aft wer fare not arama at ofl ger we ok MT. € & a ek fel at sea tS gest sets fr ae ea & seo fee of sed a | (2) ant peat & wared ah & am 8 ww wea Frm en ate va ee aoe ed . ae ew ace i me es ree ok fr . (9-08 8 ai pe a Bae Fer | 6-6 mets Oe TT ee Ee A Ce) fee er a 003 fe er ae er ar 2 a aa sees hotel nf fe ae ae fee a aot @ ware A fates et arbi , (4) fete ret a Bad re fy aerate ve tel siya anda den ah 73 Pare es ot rareh ope ah eae Tw we arf es sa ae er Een are), BM, é. (x) su ats Fin Font era ant Fim ae a flee ae Tene a ea oH sare & tty Bsa afer cee oe, BT] AER ER Baa-aT HR fra a Scena aon TR Rt, FoR: ewe ow we We wet FH Toe A ethe 9a. 8 ane Be A. ger HUTA il, farRRT AR aR wR, aD we Whee fer eH WTA WT SR, TTT (2) a aes SE Teas at teh afkepen a qa FW fale aha a, wt ras 4 afer & yen were at othe 8 oe weet are 8 oe at vet ert, wena aT GAH, wT TUat Say Cae fae ae ae at Ta wa a en ae eA aH ON wea EE ae a my &.

4 f. 11) The State Development Bank may, subject to such directions or instructions as may be issued hy the Reserve Bank of India or the National Bank from time io time, and with the previous sanction of the State Government issue bonds. which shall be in the form of promissory notes repayable on the expiry of such period or periods from the date of issue thereof as may be approved by the Reserve Bank of India or the National Bank:

Provided that the State Development Bank may repay the amount due under the bonds at any time befnre the period or periods so fixed, after issuing a notice in such manner as it may prescribe us the hand holders, ia (21 The State Development Bank may raise funds— ry) . hy way of loans or deposits from’ the Centrat Government ¢ ora State ‘Government the National Bank. the Reserve Bank of India or such after fi financial mstitutions _ag maybe approved by the Trustee; . oo.

(h) by way of deposits from the public 7 )The Registra shal be the Trustee for the purpose of securing 2 fulGlment of the > obligations of the State Development Bank to its debenture-holders and for, fulfilment. of the obligations relating ta the fuss raised under section 6 as also for the purpase 0 of sectida 20° np Y a ay So is 4 “t oer a u 2} The Trustee shatl be a Corporation sole ‘by th the name of the Trustee for the purpose of debentures and as-such shall have perpetual succession and a common seal and in his corporate name shall sue and be syed.

mote . on we . a8 : wey ore - (3) The powers and functions of the Trustee shall be governed by the: instrument of trust executed between the State Development Bank and | the Trustee, as N modified from time to time by natal agreement oR Tet REPEPNVE OTR OBE PTET URES.

(4) The securities furnished in favour of the District Development: Bik and other securities and assets transferred or deemed to have been transferred under the provisions of section 20 to the State - Development Bank shall vest in the Trustee from the date of such furnishing or transfer.

( 5} The debenture holders shail have a floating charge ‘on. ali such secutities and assets, on the ainounts paid uader such securities and remaining with'the State Development Bank or with the Trustee and on the other properties of the State Development Bank. .

%. “) ‘The principal of, and the interest on, debentures issued under section 5.or bonds issued ur toans raised under section 6, to such maxtmum amount as may be fixed by the State Government from time-4o-time-and-subjéet-to such-conditions- as it may deem fit to impose, shall carry the guarantee of the State Government ;

“Q rid a chiverinend riiay. after cotiéulting the State Development Bank and the Trustee.

by notification, in the Offigie?. Gazette and by notice ceblished for not less than fourteen days in such of the principal newspapers, in and outside the State as it may select, discontinue the guarantee given under sub-section (1). of restrict the maximum amount thereof, or modify the conditions subject to which it is given with effect from a date specified in such notification or notice not being earlier than six calendar months from the date of the first publication of the notification in the Gazette.

3 Issue of Bonds and Raising of Loans and Deposits.

Appointment and Powers of Trusice.

o T N a r o S

(3) TO aime 9, sei Tema St ofrecer Pelee at art ta wel 9 a, fies senha a ET ae a eS, Poet at wt surafee fire arnt, yer a, aenferfa, Prey a goraem an fae Ter Deer Wale Tage ay soeleia fen WET, (¥) STURT (2) & ae sfirgfae ate went, fakery on scien, sa ate fre ae al Vat ans, fre a TTT wera eter & Pritts fare feeder gra aa St ag sraegda we fed ot year 3 yore Tet sre, sraryia Pitts 8. (8) Ta BER, Ty fares Sa va A al ng a ary yo H seal Hh eis stata wt TE wferaferst oe weg farara Ser oth fare ferare Sat gra fee ne Sunt Gt GO wEeH, or Vite F at raat & farrige at on 3 OH arr TET A HT are!) Brat a Ot we} ward we . eae Fae ere Ba Frame tit al we ae BH SH ae es eR, wt a, ee (9) A ea re ae ean et Wie Lee aT teed sey ts art fhettiercer ee, (a) fee Fete ah fig Be fee Ae ear si o fae wh vero.

; (ee) se ae vet 6 tiers yeaa wr fee ant at ar at me we aa Ci ey el a wel wa & fore, ‘eo Fre fa (Ron ee) ee eh spor at ark & fre wt Na fl ce : | a wrpfire faroha a apr wait & yeh: a sie: Tee Cat STE Ce AE aT _ (aia) agit fe gu cues de we ok ah A ad eft apf Ae rate Be ree Fe wee rr een Fare a wt eT arr arerenal i Satter % fore eed BY ame sat H fery; .

‘ Can) ater arn armen tt ora wr % foe,

(2) 3a fern fe sth fren frera Sem at fats F det ei Bo afery wt oth Pf Oat Afar FR at et a arty ent are wt ere Bra seein at

(9) a fr Fe A wer ae Faq ay saftey aa Bt TAT. .

ra neva&® et wea fewra fe, ar pt oy, en fe ee een vera a fety ye are ie sewed 8 ete a flatware wok: at wa feere fe (8), FeReat aera a est ot arora at oa peta wa Mt Fre wet fry aA nite, - (B) Fe eS ae 8 8 eee fete a oe al ae COON as Rage

(1) frre on fore fee or aac & cape ar FR fda or aay Fifer ard ate 28 files & firq ste faa wet & fee, a!

C2) me ere Re fe FE ray Re 8 ae A (31 In case where the maximum amount af the guarantee is to be restricted or any of the conditions subject to which it is given. is to bé modified, the notice shall set forth with sufficient clarity. the scape and effect of the restriction or modification, as the case may be.

(4) Any discontinuance, restriction of modification notified under sub-section (2) shalt not effect in any way the guarantee carried by any debentures issued prior to the date on which such Wisconlinutnee restriction or modification takes effect.

9. (1 The State Government may constitute a Guarantee Fund on such terms and conditions . as it may deem fit for the purpose of meeting. lasses that tay arise.on account of loans advanced by the State Development Bank and District Banks on the securities furnished in favour of the state Development Bank or transfered under the provisions of section 20° wot being fully recovered due io suche ircumstances as may be specified in the Rules.

+

(2) The State Development Bank ‘and District Banks shall contribute to ‘Guarantee Fund at such rates as may be prescribed.

“+ GR) The Fund shalt be mainiained and wliliged in:such maiiner a may be presi

10. (1) The-State Development B Bank shall constitute a. Credit Stabilization Fund for the paarpene! a 4 . esabling il to.discharge its obligations in the event. of postponement of repayment of loans or of instalments of loans: or tii) meeting the obligations of Sinking Fund arising as a consequence of total or partial "* failure of crops on account of dréight or any other natural calaznity: or . tH) enabling it to discharge its obligations j in the event of default by. a member due to loss caused by a natural calamity in products of Rural and Cottage Industries as described by the National Bank.

éivii any other purpose as determined by the Registrar.

(2) The State Development Bank and the District Development Banks shall contribute to the - Fund at such rates and maintain and utilise it in such manner as may. be determined by the Registrar.

(31 The State Development Bank may receive contributions io the Fund made from time to time from any person or the Central Government and the State Government. .

It. The State Development Bank shali, subject to the approval of the Trustee, make regulations _ mit inconsistent with the provisiens of this Chapter— - 4a). for fixing the period of debentures. or bonds or déposits and the rate of interest payable therean: . es {by for calling in debentures or bonds after giving notice to debenture or bond hokder, as the case may he:

(c} for the issue of new debenture or bonds in place of debentures or bonds damaged or destroyed and fixing the fee for such issue;

Guarantee Fund.

Power of State Develepmeat ‘Bank to make Veguiations for the purpese of this.

Chapter.

(a)

(2) fear oy deed & we at a fies one al ee el fede ot sweat & sat ara wt Hf dohafia wet & fog, ah AMT: Fa steer & sade a aralfan ae a few, Fae 3—TM aad aie, 22. Fa afore ania wary aq frertt & arenes Tea EY, eer Frere Fe sh fren Frere _ ti Preteen seat & fore ser A fie wT &

(ees) pth afte omer fra, aa are wats, Bro fe The es @ yar re soca eater: ora & vate fire phe ate utr fre weer” @ afte & ate er ani, afarain a fivoreary fare sh athe amof Ferara 8 ere frend € afk 7 feet Prafefiqn ee

(a) “@ .

(4) (S

(3) AB) -@

(a)

(3)

(2)

(3) apc watt fre a ge Pate wget ate ay see fre ae serene, ert ar fae 3 fara ail fares starts ergy, faxes Canam) Ten en afta fox i (ET an Stee) Ht trent atte sea dertt o afrater aire Fail Fo, ; a cats tam 4 8 fred eee ar en at pater ae ade fist, feed 95 Fe fare are free ras Pe Pres (oe te dee*rz) ft; a aft veto fz avin end a arch fe ae af 8, Tg hat oer rare, sat a ara seme & saan TER (Fee) Mt ae! A ae GAC BzTA OB Va FT HT THA SF SAH HAT;

atu atear oth 32 et que: | gfe Be tet fee wt aa He, aM Ee at See ATE ETT SaR CH FIR BCT; 3 am af FAP TEM, WY We wT ye Te;

ye ott aatedl ar er-de, Gar Te;

we Fai HI HT;

a wr Fale meta A fred of setts & fore Ber So, fin Bet sth fae et a ea oth Tret WH;

5 al) far converting one class of debentures or bonds into another class of debentures or bonds hearing a dilferent rate of interest; and

(c) gencrally for carrying out the provisions of this Chapter.

CHAPTER-ITI~—LOANS

12. Subject to Rules made under this Act, it shall be competent for the State Development Bank nd District Development Banks to Advance loans for the following purposes;

ti} agricultural and rural development; and og, ti} such other purposes, for which refinanée facilities are available from the National Bank.

Explanation :=-For the purpose of this section “Agricultural and Rural Development ® . purposes" means any work, construction or activity which aids. agricultural and tural development and in particular includes the following --—-

(a) construction and repair of wells including tubewells, borewells and dug -cum- —_ borewells, tanks and other works for storage, supply or distribution of water for the Puttposes of agriculture’ or for se eof met and cattle etiplayed is in agricuiuire;

‘ : th) - © renewal or reconstruction of any y of the foregoing work or "eration therein of addition thereto:

a {c) preparation of land for irrigation including Command Area Development;

id) Deainage, reclamation. from tiver or other -waters, or protection from floods or from erosion or other damage by water, of land used for agricultural Purposes or waste land which is culturable;

(c} bunding and similar improvements;

it} reclamation, clearance and enclosure or permanent improvement of land for agricultural purposes;

(th horticulture:

th) pisciculture:

ti) pouttry. animal hushandry or dairy farming;

(ii. . sheep and goat rearing. piggery;

(k) purchase of plough-bultocks:

(lh purchase and repair of oil engines, pumping sets, and electrical motors for any of the purposes mentioned in this section;

5 Power to Advance Laans.

{%)

(3) (™)

(4) () (&)

(4) mi)

(3) CF)

(a) (4%)

(a)

(a) atari, soatuit sik neta = m7;

deed, a oer feer a fret ea fe ceed a ee at TAH AEM;

“ apfia BY ferdty went at Yer feeret Tat sea am A gig;

Para waa COM Wawa), Ty Wel sh fect st wan oe Ble sree wieHTA a fore Het an -aesmte, eee she Ptah;

TH 4A, Fe WAR SH fy AAT FI ;

gfe et oh wa et er foe a para Te, aa % whe gern free sina te wr eT Ht agent, Fats sarin gal wer gH (BH) a af wind, ah ot ting ae tT WERE, frat siela wetter ierm, Thery abt vam of tae Fra ath ta fixareendt 8 dafed seeif ath aviat faa seria wepafes afsai si $a sa;

pie ara & fae tel gia, aah fea ae at eT, Patras (ee kz) ee ae SA ee tse ty se: < FEN ate meet St eT:

(m2) Bear St STE, a fn eg ers bn Ae

(at) farga at gee ened a free wen stk oie ferepetenes;

Gry) ai & i wer Biel ar free aft seh, (3-2) 3 vin oe a eT, (Bt) re oS rm a, Tl RGA;

(m2) a a sfrrot & caret a wer Yih frre Ae & ate ger settee fara am, arreafa at en A ars om fatera sf erm.

ie d a l {m) (ni

(i) iy 4q) itt (s} Ww yu) “ave.

- tw) {x} - (4) (ei (h-1) {u-1) {d-1) fe-1 uh Plantation including tree crops;

| Weainsportation, satage: if¢ludingf Faral warétiotises, podowhig; and culd-storage, “and marketing of agricultural, cottage and industrial products, and. acquisition of purchase of tools, implements. machinery:

Purchase and repair of tractors or powertillers or any other agricultural machinery;

increase of the productive capacity of land by addition to it of special variety of sail;

constuction, repair and reconstrucuion of permanent farm-houses, cattle-sheds and sheds for processing.of agricultural produce at any stage: , . purchase of machinery for crushing sugarcane. manufacturing Gur;

purchase of machinery for harvesting and processing of agricultural produce;

, apiculture. sericullure including production of silk, toa agro-forestry;

implements and machineries including animal-driven carts in connection with . such activities:

inarket yards for agricultural produce;

establishment of -bio-gas plant:

working capital or production credit to borrowers of investment credit: .

setling up of cotlage arid village industries;

purchase of shares in Conoperatiwe sugar factory, spinning mill 0 or any agroprocessing industry:

faying of transmission lines of electricity, and rural electrification;

development and use of non-traditional sources of energy;

establishment of milk-chilling plant.

acquisition including acquisition of plot. construction, reconstruction or repair of rural dwelling houses; :

all such other activitics as are incidental or ancillary to the above mentioned purposes or as may be approved by the Board of the State Land Development Bank in consultation with the Refinancing Agencies. in case of any disagreement the Board's decision shall be final.".

6 tart ie afr 23. (2) werent amend Sranet afufian, go (HAI yo TT R8eR) A atahte feet ate Fk or PT sp re ey a, ear a A aot etre ere Tey ferare ee a fren fire ee or Freiferae 71 TN.

(#) (@)

(71) - ~ RH, (yon Wiel. a bh sere tag fen on BT meqyen Beet Braga afubrem, ego (saw vo TT wen) BW mehr agiga ay wears Braga; 1 apart afaa afufrra, coe (¢c08 HT a, 0) tae tg at ie ferg, Bam sie wate Maye TS FRE UR, RAUL cris (ut) & anh erie a =a; a> q sere i afi in we wort a ay 7 fanfia Frat;

sore ena ara ARR, 09 (RHF we HH gen) or PET are Bengal, Fah eae Ara mn Ft TAN GT ge Ff een #7 sid sa CRT), ste Figs Hew. Nd ces 8 fon arene re 9 fe fe wee Ff sofahrd F sosifien &.

(2) arena ge fered fae a arate fart arn AF WA Te oF, ren are a, fH ge ofa & fre weer wi oe sa sin A or ow seme sig wT HA, meen wie yy, sg Paar dae on aid fren faare at, afore od apts & sets we EE, fo Wer ani far. sed or Fare en foal Frere hace & ws 9 afnfea St aunt & fee tu, (0) Reman Aer aa aafufrom, ceo (ORM Yo TH (eet) A alae. fred ote way GA We oF, Teg fara Se aa fen ferare ee ou Hoy aaa fea forge BTU ape AAA feared a ane ot freafeter wingital Fe frat ot vig et eten at ee (WH),

(a)

(ita) RD (aay (BE).

" (afa)

(3118)

(a) aur, Prat:

STEAA (OERATT):;

arent seam:

wfay;

veayia, aint a A.

13.14) Notwihstanding anything contained in the Madhya Pradesh Co-operative Societies Act.

1960 (No. 17 of 1961) loans for the purposes mentioned in section [2 may be granted by the State Develupinent Bank or a District Development Bank to the following :— {ah iby icy eh uh, .« dy" “a Sodiety registered under the Madhya Pradesh Society ‘ a Co-operative Society registered under the Madhya Pradesh Co-operative Soci¢lics Act. 1960 (No. 17 of 1961): or ain individual competent to contract under section TI of the Indian Contract Act, 1872 (No. 11 of 1872): or a public trust registered under the Madhya Pradesh Public Trusts Act, 1951 (No 30 of 1951 i or utogat pboowd : a vase may be, under any law for the lime being i in force; ts Sy 1973 (Nw: 44 of 1973) as may be approved by the Stale’ Gove men in hs be behalf , by generat of special urdercor =” a a minor acting through a puardian appointed by the Caurt « ie

Provided that the loan shall he grafted to thase who are members of the State + 2: Development Bapk.or Ristrict Development Bank:as:proyidediin the byeslaws.

on Notwithstanding anything contained in any law for the time being in force, District Development Banks may-grant loans i .any member of a joint holding. in| fang, only to the. extent of his share therein. - - Ub 1 The Stale Developmei Bank ora District Development Bank shall admit. -any company or corporalionor hady of persons as member subject to the-priar approval of the Registrar.

15. €F) Now ithstanding anything contained in the Madhya Pradesh Co-operative Societies Act, 1960-(Ne. 17 of 1961} the State Development-Bank or District Development ‘Banks may accept any _ of the following securities (or grant of Joans on the basis of principles of valuation approved by the Registrar —

(i) ii

(ii) tiv) {v)} ivt) _(xti} titi) (ix?

Mortgage:

Pledge, Hypothecation: .

— Lien, Government ‘Guarantee;

Surety Bond:

Guarantee: and.

Promissory Note.

karan ‘Adkiniyam, .

Who can he Granted loansand advances.

i . Firm, a 5 Company or any ather body corporate established or constituted as the Regulation‘ of - certain categories ~ of membership.

Security for loans.

tum & faq aaey maT Se a ET ary. wfrae Tet H wets A “Pryereay ¥n.

(2) 74 fara Se a fen feng Se gro fey 1 wT SU ae TS HRA TAS BMI AH ara wae wd, das A safes feo a at om a ae tel at soerey ay soaRy & afatte, yt Bt eer F aR we Aye ary ehh.

(3) sare 8A are 8 ser ah saw eet age 7 EF at cen A oe yy or Wey 2B, tat aff 8 Set fe fags at ary saet ara eT.

26. Wa UR) tz H fafafde waht FS finch wate th fe sere bq SE rae fore wee fF, a seer Froere. wet tht a, BS wafer Bre ot see Frat ret few Feat | wy, are rer er Fe Frees re 43 3 Re tet A RT fact wets & fy sere 3A feng Saat satehiedl SF andte wage cafe a ated er fee ven aig fetsa sree, fare gra ye atfefie & wris 8 od or wae ware, fart afew) ar ved shooter wafes wt AEA 8, aft & frsra & ford seed faite erat at rain eet & ward or see fare ef ay ere mtr ee Fr ae rie, Fan aH Ferme a Part fren farsa See tut & aa grr satin wn.

(®) ae fe afin. art ar ae vite fares fete ean fem 7H €, wre 62 a alia .

a8 atc an fer rt, “com ag Fis Fe aa Bi ante ad he wh, wate, tea ge ft at a Fee erat % fee Sra amet a a aT mT ah (@ we ore fe af afk

(3) =m Fe pA te fee aig ye ob wi a, at Wim a, Hairy &.

te (x) vet er mas, hen Pre aw & freee fg ander sr, Ter rar Se orn Fu Pies fafafte anfrand & ae ta wes 9, a fafa Gear ay woe-wa He tien SUT fe san. fee wing & ey Fa ng sine a ener wea faeciey Age & she ae fie ae see arefare wek Ft att ae fis ae fren fer das oe F del afi 22 at aftea &.

(2) wear wemn fenett fates siafe fine ara & via gu wh, oat feet sia 4 eI wafs % Mae A ToT (0) & aia ag wage fen ar glee &, aei ara zo % sade ores TEA BY ae wt wees ary are aii cere aafira Fare ferns as ar we a a fee Tet as Seat ee a eta fer fe eee Ps se Fre aK Fe arr wa S ae viayfa 3 altate @.

(3) ae st mais, st seen (2) & ae fron qoe-wy oor tom Pest ta wees SE te ae ee %, Tt fhe F, Be eae (2) & eg aw aE Be Teche eve Her, tke (Reko OF A wy) & ant ot erate ee.

(%) Tare SH ae TH, St soe (2) H ats fea my Wawa H MT AL ST Tae, tat din & anaes eth ot faiea si aa, 8 i et el o a h = i ‘ i i } 4 (21 All uans advanced by and alt amounts payable 10 of recoverable by the State Developoment Rank or District Development Banks shall. in case of default of payment, b¢ recoverable as arrears af Land revenue in addition to other remedies available to them.

(34 Tn case a loan and interest thereon is not recovered from the borruwer, it shall be recoverable fromthe surely or guarantor in such mannner as may be prescribed.

fo. When an application for a loan is made for any of the purposes specified in section 12. +t shall be ispused af in such manner, by such authority and withia such time, as may be © prescribed "17. A written order bi the "bee Development Bank ar a Disirict Development Bank or r by the pertais ‘or Cominittces authorised linder’ its bye-laws to make loars for all be: any of the purposes specified in section 12, advancing cither. before or after the commencement. of this Act, a loan to or with the consent of a person wentioned therein, for the purpose of carrying gut the work specified - hein forthe development: of the land or for the ageieultural and rural. development -parposes. specified therein, shall fae Abe purposes. of this Act, be: contlusive of the following matlersi<— pot eed ~. that the work described or the purpose: for: which the-loan: is granted: js an.

:. Agricultural and Rurat Development purpose withia the meaning of section 12;--.

Le ee (hy that the p person had on the date of. the order a rig to 0 make such an improvement ~ or incur expenditure for Aerie and Rural Developmen purposes. as the case amity be;

re) that the: improvement is one benefiting the land i ied; arid, (dis that the Agricultura and Rural Developmen purpose. concerns ¢ the land offered | in “security, or any part thereat as may he relevant.

IR, ( 1) Every person who applies for a loan from a District Development Bank shall give declaration on an affidavit in such form as may bé prescribed before an officer specified by the State Development Baak in this behalf that the movable or immovable property’ fuimished as security for the loan is free from encumbrances and that he is in actual possession thereof. and. that he has the right {o Furnish such security in favour of the District Development Bank, . ne mM Notwithstanding anything contained in any law for the time being i in force, where an affidavit under sub-section (1) in respect, of any movable or immovable properly i is false. or ‘defective. the Disteict Development Bank shall, subject to the provisions of section 20, have a first’ charge on all other movable and immovable properties of the applicant, and all such properties shall be deemed to have een included in the security furnished by the applicant for the loan ‘granted to him by the District Developinent Bank.

(3) Any person. who makes a false affidavit under sub-section 2 (1) or makes any statement which Disposal al application far foan.

Order granting lean conchusire of Application for ‘join ‘feom a District Development Bank to he supported by affidavit, | js false in any such affidavit shall, in addition to action under sub-section @), be punishable also under , she Indian Penal Code, 1860 (45 of 1860) .

(4) The amount of loan that may be sanctioned on the basis of an affidavit ‘made under subsection (1) shall be subject to such fimit as may be prescribed.

8 ver ez _ atten a. (x) 1 free Sar a ise Fen Frm as 3 aH <h ag rele 3 aes oa fave ta ay, aff fara sur afutr, 663 (2603 TI A. 08) TH FAH BUR haa, Ree (1CC¥ HI A.

g2) Ti wea wan feat ora fafa & ais feat Ba ger G, st aenfeafa, Tey free Fa at fa fara tar & ye F vials ea ora Horan ay fear 7a f, IP HA aa aH & frst vt wea R yfaeear ora eV.

Ca) mere vege faveh Pathe statehe ered ara Be wae a, Ha rere Ser aT vet fren FeraTa da & ve FS od vig a, aa Bafa at feet gat a there or a Ta Ten A sor Te ET Wa PSA wee A, att Bet TH 4, cat fafien Pera sy, apr 3 wane # Ween, tet geet ay ee ney we 3a oye fe, HUT aE re she wee at Pre oer rs fe a otecfe a fours Ce vio St wa frara €5 aT warn ath ai wernt Pita a.

fi ts fara ‘ferq sure fore (y seate ete dim: L848 Crt 20 Wh ttt) La RE ed a fate # sl oh as 08 et ees Be 96 1 HE ‘ad uftrafa frst tet fh “aan F-€, Porat feet thet ree ar ae fee &, ael seen on areari Ua fet a aif OB aa, athe sth ren ere ser tigen at sates ert 7 flee aA A ee frre Mis ar Foren Frere ae & after wales sel WA ate ae itor oh ae fs wr atk sad Hee fg aT FT a a fe re & se sts en.

zo, Wate sire aftr, 3222 (2602 HS. 1) 3 ae fre ae a eT Ft Fen frame fe & wa 33 oa 8.78 eet aE afi ah wa ached a siafta aaah Eda a auficat car wart Ra Te a aiaftel fire aa at aha BBA Frones a sive at atte a, Fat ot Reece a Qe are at rae Fs wh si of oe

8. sui fh fre eee 9 yf ee fd AP a aa 8 Pe a a frat Gal A fears Pret ft ge feng Pet BB sais a, fare day 4 fren faare fa ‘wh ag vette Bran ¢ fis ae ape yf a ea TT tam ae Ee ae afin waa FG, TER Hy fo 4, dae aa apa: a eM: Bo GS fem oe A re TH, a fe yi ve afia. ae wen SE eof fae Rene de et cen] ae ser wy, frwar sei A Yun & fry fan az, aa TH eT Bike, wer He BT eH eT.

“aa, fasta:

na d a w ih it il di ee ee n a c e en the -Districl* Development Bank: oe weg : .

1¥. 41) Any amount payable under a security furnished in favour of the Statc Development Bank ovat Diswict Development Bank shall have priority aver any claim of the Government arising from it loan, under the Land Improvement Loans Act. 1883 (XIX of 1883) or the Agriculturisis Loans Act, I8R4 (X11 ol 1884) or under any other law for the time being in force, granted after the securily is furnishyd in favour of the State Development Bank or a District Development Bank, as the case anay be.

i2) Nolwithstnading anything contained in any law for the time being in force, a security furnished in davour of the State Development Bank or a District Development Bank shall take Juecedence over any utiachment or morgage or charge aver the propertics, where, after publication afanotice in such form and manner as may be prescribed, the claim or inierest under such attachment “at morigage or charge has not been notified to thé State. Development: Bank or. the District Development Bank as the case may, be within the. tirne specified i in the said notice.

3} Newithtaniding anything contained in the “Madhya Pradesh Land’ ‘Revenue Code. 1959 Ne 20 al 19899 i br iiny other law for ‘the time being i in force, ‘whiere security furnished in favour of i District Development’ Bank i is in respect of land in which an occupa ¥ tenant. has ‘aii interest ‘the murlgagesor hypothecation may hé agains the security af sich iditerest; and the rights of the State Dev ‘clapmient Bank or Disjrict Development f Bank shall not be affected by the failure.of the. occupancy “tetiant fh cemph with thie requirements of the said Code, and the sale ar the laid and his interest there under the said Code shall be subject to the prior charge of the Staié Developmen Bank or ; 0 Notwithstanding anything contained i in the » Transfer of Property Act, 1882 (IV of 1882), a sevirity furnished or déeméd td have heen furnished in favour‘of: andl att dther' asseis ttansterred or deemed tu have been transferred to a District Development Bank shail) with effect-from the date of stich (urnishing or transfer or with effect from the date of.such execution or transfer, as the case may bende luken io have been ttaasterred-by such-District: ‘Development: ‘Banks tothe State Development — Bank, i ee Hits va nee a bee ste eh 4 wee ewer alte?

“TE Where at District Development Bank has granted 4 foan for i improventient ‘of any ‘land silualed an qiy aed or ayeas covered by any specific programme. of Agricultural Development to a person appearing to the District Development Bank tu have title 10 the said land or to be in Jawful possession theree!. and the money has been either in whole or in part utilised for such improvement, any person acquiring ule to such lard an any ground whatsoever, shail’ be liable to repay to the District Development Bank so much of the loan as has been utilised for the i improvement of the land together Wilh imerest Lherean. x

22. Omitted.

Petority of claims aver securities.

Transfer and Vesting efsecurily with State Developmicnt Bank.

Money horrewed for Development” of Land.

S e b e r aa aaa ae fever stay x—saa wr Hey sik faa a3. (2) af wea fara Se or fel fre fare Sa & vg 9 a oe fat vfryfa Baum aa @ie fea wy ed faves oT ANE TT Te aTdte B, farerant ag vires eT rare, UH ATE Saale qa fora aren teen &, 9 fare Sar fren fears Sx, saM TIT feel aI TET & alates, Thren wt catia at ofr wt soa an arn &, fart whiff €, fier oni ga we wet waa ait at sim cate Ht é, Ber ah Fee or Ret eee a a AT NS fey FARA Fl THT.

(2) ten area tre BF oy, TER, He few afte, ¢ez0 (Rk3o FG. 2) A MTA WAR firth fafa 8. stale foot are H ert Ee +, Re arte ato Beh Ses oT SR! oT mr aren aft fered eet th fer Sars &

(3) TART, ‘atta 2 vaitna surer a ds ste gra, we ten oh 6 TOETA (2) 4 fade soa a ara SIA HE wre aiahtite finareMa eM H fre avsfise welt eH a ser am St Tes BER A A waa BS we yf weaR Gel wel & fey senet a aL HF Tl TOS Pee ee ee ep Rie ba Oe . neal ar fare aT rn aren, es fas & at eee Ik fama % afta 8 Gye ey » ey acd a dst fel ang at m widtese 8 afree 3 var at wT.

(a) 2a era a oy safer afer, test (Root aa 2) a ale feet an Bit FT oF, BA oy a Sere Atel BH anee Fe stexta Td EU wishesa GB Bz amen ain wy afren afer & sae. agar ta. ag a stars fen ar Fi * em a fesra ser ai, SMteTSS GT sea Sm wt eh Fe ey STE Fm Feewre: Sa HY SRT aX RM TET, © (a) we we a a ome fin ce ae fra ae eB aa (TH) safe atte seat vet cer well & fire areas wETl ary, aT A Sa, eda fc ote 28 Ft mg rk veh et rt are ef er eye a a Sam Tet feral an wea;

(a) arr athe, aifreraife ge aftea five seme at ctget act & sere, att:

Ray wr tae cree A gee cama a ae fea 8 are aire sata aa a acd war a fae ares ti; -

(a) fh is ars & wi fe srr ee, caf wT (&) aren arcafire set eh, a ref a1 a er Freee area cadi ain fama & ad & ae eT:

Wey Fa an A a aH TG, arti vr Fc eer aera el each | . | eva (4) ane 9 nh eer fra eta Te rt fs ant aie on aren fare ae: con faPiee at wet Freee fore ace favor Ta F.

(a) air h eT STEER ter afon se ae FENN Fre aE ah TH Toa ater, Taal UH ofa Fa aT Va Fees S feet aaeH yee Vers a ae Mire Pere ea TO Tee erates wn afaehpa arate Hay zak wise afer a after eee Bt ane, a ae anita ga van tei a} on Beet Eat Bin wh een wl UH wis see Frare wIr w Beaters aH ei praia 3 a se yf a forma why dain ¢, favs cetera MT CTT BT TTT.

lo b u i be

CHAPTER—IV DISTRAINT AND SALE OF PRODUCE 73h Ef any instalment or any part thereof! payable under a security furnished in favour of the Suite Develapinent Bank or a District Development Bank has remained unpaid for morc than one month fra the date on whieh i fell due. the State Development Bank or the District Development Hank ai in adgition to any other remedy available tw it, apply to the Registrar for recovery of such mnstaknent or part thereat hy disiraim and sale of the produce of the land or products to which the scctirily relates. including standing crops thereon and other movable property of the defaulter.

12) On receipt of such application, the Registrar may. notwithstanding anything contained in the sale ol Goods Act 1930 (3 of 1930) or any other Law for the time being inforce lake such action as” Is meveSSary 10 distrain and ll such prexluce or Products or movable property.

< 3) The State Government may, by general or special order published i in the Gazette, “declare that stich portion of the produce referrey to in sub-section (1), or raw material required to maintain Ihe ancame generating acliviy involyed as may appear tg the, State Government to be. necessary for the purpose al providing unlid.the next harvest for the due cultivation of the land or tilf completion uf current eyele of production. for ‘the support of the loanee and this family, shall be exempted from “lability to distraint anal sale under this Act.

ica Cattle distrained as ; movable property ala loanee may be kept i in custody in a cattle Pound fy Use distraimer at his cast, sh tn Sue aL TR7T4, Caale SAN BE ecledged From Me Pound only ‘od the ordéf‘of Gistrainerand: in the évent ‘of nuctrcontheherng-dactiomed according (othe pravisions of Cattle Tresspass Act; the-sale proceeds, after deduction of expenditure incurred hy pound, shall be deposited with the District Development Bank.

. AS) Nothing in this section shail permit the distraint and sale of the following, namely:—

(i) the necessary Wearing apparel, codking vessels, beds, and bedding of the defaulter and his wife and children. and such personal ornaments as cannat,be parted with by any woman in accoordance with her religious usage;

(iy tools of artisans, implements: of husbandry except an implement driven by mechanical power and such vattle and seed-grain as may, in the. opinion of the.

Registrar be necessary to enable the defaulter to earn his livelihood as stich: ”

(iii) ‘aitticles set aside exichisively for thie use af a religious endowment.

6) Fhe clistramt shail not be excessive and ihe value of the property distrained shall be as nearly a> possible equal to the amount dug and the expenses of the distraint and the cost of the sale:

Provided-ihat any mistake, delect or-irfegularity in this respect shall not invalidate a distraint / ur sale u under this Act.

, M. 41} When a distriat i is made under s section 23. the distrainer s shall SOLVE OF Cause 10 o be served upon the defaulier a written demand specifying the amount for which the distraint-is made.

(2) The native af demand shali he dated and signed by the distraiier arid ‘shall be sérved upon the delaulter by delivering a copy thereof to him-or ta some adult male member of his family at his usual-place of residence or office or Registered Office or to his authorised agent, or if such service, cannot be effected. by affixing a copy of the notice af demand on some conspicuous part of his residence or office ar registered office or af the land to which the security relates.

10 isés, datwithsianiding anything cditahied in the Cattle Tresspass Act, 1871:(No. 1 Distraint when to make.

Distraint when io make. , are wt ay 2. (2) fe, URI x F flee ain Ft gam ast anit st ada a wae fer & vie, caw nents wr ES. sy tenn a, fre fem weer fan ra on, Gera wet ae & at aera. aceon wt ne Toh aT 7 See Ta MM wl, BT saat Ta A ace & ory am fase we aes, wen at aid BTA fore sree ti, ate Er fawa at aa.

(3) 28 foe srt Aa fea ot Oat a wl at eH Fre TO wra-aae wt Fran Bl ATT.

(3) eRTTRH GAT TEN Ace fay ME Sear at eet res AA TTT

(6) te THR, afe HE Fi, 3 wee ae A fie aera ae Fo fe ee fer raat.

(4) afte fe BE a se tae et Sf Fe fr oe ak ae cor ee 8 fo same smo Re a wim wen wy UE. (namin weet sad air, tteo (arte to wy tet) ae we ahs rary & WH THE N68 (ROG TA RC) WH AeA Wee fees, aro fae AY arate Peat ae & wt ET of, paar Saei ae raf siren. zene eof ake rem fren: as oy fet fret freee aie ve See Se bere dea se rte dee wage feed oats a, cele a wali der at hea Te . ® Uae A oafaan fen wen ¢, sa Tore fat ara seen H afafte, ae ule ert fin ae fat Tes & Aas fan sa dole a fra wfryfa caf & fama zy.

(2) tat feet ate a wim fred fren fara a6 gr at we ART Fen OTE Te 71 frag ata 3 ta fara a, ea (0) BA He hn eye HW ep “ame Rem ‘mea fre an array re sett fe ahr ar gr fre eas ra Pée re oe ee fon she rea fee 2 AE oe we wh & oT eT fe wat wie & sein ait onfrpea ane fear & ;

ep ae fe fen Fee at a fea © sei pes araers set AT.

(3) tal feat afte ar wet a9 fare fen ot frat Foren fore 5 gr oe fo sme wa ae fe (Ce) faen fran de @ wher ofa a see Pat oer} ders wh an we at ETT Peefeien % are 7 a ae a a GFL, , SURE TG wo “hase (@) fact fa os 1 fra se Taft 7, oh vine 8 sent me fea a YR ta fad see ah wl He ar after 2:

1 t l h i

25. ¢1) IW. within fifteen days from the date of secvice of ihe notice of demand referred to in Sate ef property section 24, the defaulter does not pay the amount for which the distraift was effected, the distrainer may sell by auction the distrained property or such part thereof as may, in his cpinion, be necessary iu satisfy the demand together with the expenses of the distraint and the cost of the sale.

\ .

(2) A deduction of account of the costs of the sale shall be made from the proceeds af such sale a stich rate as may be fixed by the Registrar from time to time. vo

(2) The expenses incurred on account of the disteaint by the disstrainer shall be deducted from the balance. - os as ah ‘The remainder, if any, shall be applied to the discharge of the- amaunt for wie the. sisoin ~ ava mitde, . J is Surplus. if any. shal: be delivered lo the person whose property as tr asta also be yiven.a receipt for the. amount discharged fram the proceeds of he sale vit oe - CHARTER—V SALE OF PROPERTY WITHOUT INTERVENTION oF cova,

26.01) ) Nonwithstanding ‘anything contained i in the Madhya Pradesh Co-operative Societies Act MestNe: EPO SELF be dhe Thuste Rnd Mar gaees Ptiwer Act. [886 TNR WHHGBRF OE ally other .

lay (ego the care being tn: force: where" stourity has been Tumishet revels atsitoeabté or inmnes able property in favour of the State Development Bank or a District Development Bank. the Bank at any person authorised | for the ‘Purpose shall, is case of default i in the payment of sums due Wa the Bank. ‘have power, in addition to any other remedy available to it to. bring i lo sale, the property " which the security relates without intervention of any court of Taw, "oF No such p fower shall’ be exenised by. a ‘District Divelopei Bank “wiih and ‘until the State Development Bank has previously authorised such sale in exercise of ihe power conferred on it under sub-section (1:

pyres!

Provided that the State Development Bank shalt be deemed to have authorised the exercise of ~ stich pinwer if no reply is received frony it within thirty days of making a reference by tl the District Developmrent Bank or "arly person authorised by it for (he purpase:

Provided further that approval shall not he necessary in case where the loan is advanced by the District Development Bank out of their own und.

_. QLNoguch power shall, be peemcled. by the Sia. Developmen Bask ong, District Developmen Bank unless ‘and rt a rote etgy) © native requiring paymenttof sams due toritle Distriet Development Bintcot any par __ dhereof-Aas been. served upon— ~ the Joance:

iti} any person who has any interest or charge upon the property to which the securily relates or any other right to redeem the same;

a distrained, Power to seli:

property charged.

wtihout Interventian of « Court.

faa fet writers afte feraret at fa, (viet) fen Fawr ar a ster ufinad & iera ae fare feet vf Te ;

Cun) -suremmta & fereh Gren we fired are aoe & wae & fire are Swe ef , fara ufayfa defies ¢, fara & fou fest afi a oft #; ath

(a) fren forme ar at ater tel Ufa wr dae sea A, aes (az) A ee Gen a ater 4 Wea, <i ae et areTae aH & fire oafemn aRt gene :

WY Bs (w) & ayWve (a) ath Can) F atthe cafe st det Gan 2 at wer zz Set Pet Get eh es Fame or fen Rae Sy oH Ae oe gan t.

(9) fa ef ate Hs ese fi .

“ate ane tt des frat st aa - (8) era 36 sre (4) vce at ee hh he re, ee a fret a Pen fara 7H Perera dtr ot Parent Brave Fe err cert sofinge FE sate za tote wr, free vfirafy cafes t Wr Sa fare wey a Fae SA | fore oT ay & ai oa fifa Frege faive afer oA ander at wm, aft ten safeatd, ore ze wt oaeTT (3) MT se Ae ge et en 1 a A Fe et a Ho, ub og trerinah cree eeit et Yes derbi greta “fame 28 fo FRR Cet ada: car fee. ene ae fee afresh doe a Od | We fees reas ene fra era Gs &.

(a) fama atfersrt, faa & art = vente go fe fren fs ffi Son re. Chtchukiediadaatiek Lhe biaehke wren aE ma, SFR fares ora wafer Gar ¢— Cm) zafeats, Wea fear fe a fen faa Ge st dea stan & fa, faa rear Fae con oe ere ea eae ste ie a Fer ct fer - He go sem oe ok om, ae ae a, afk

(a). fea ot er fe a fry a Wa hee OC of, aft sae fra Wee Gel FST] TF HI, farna afipend & ore flee ach, an fama a) soma aaa % fam fare A ade a ae . fa & sim, Welfare fara ara ot Fat SA weer satteg er Fem ~ (yatta fe et & Par oe se wh a wa kN oN, Ny ART TE Fat at 4 state: fave arm ett qe sf, wei ToeTT (4) & ath fr - % We By sacs Tel fen we ET ae te aes fam wae ae 3a Heated a fon aor Ef, ae fies afiral ween At a sae gro ya fifa gee fel aq afrert a al = .

St WG sot a fart oe aot aw fas woofs acd ain, ate eC 4H few ater at aM Si Ua Te afer gro fea at of aR fee aA Tae atrdita et orem ath ay arate fas Pra SR wg Fo et er F fafa wt ae eae ATT.

12 A (3). Rare shes ate gra Bra at aa We, ati ae aa fama afi sti t fem & _ “aH any surely for the payment of the sums due to the District Development Bank:

(iv) any creditor of the loanee who has, in a suit for the administration of his estate, obtaining a decree for sale of the praperty to which the security relates: and thy there has been default in payment of such sums due to the District Development Bank for a period of two months after service of the notice referred to in clause (a):

Provided that the obligation to give such notice to the persons mentioned in sub-clauses (ii) and {iv) of clause (a) shall be confined to cases where the State Development Bank ae eR ai the Districi "Dételopmicht Baik has ilotice of such clainty, Hoe hi Any bafance remaining due after the sale of the properly may also he recovered i in the manner provided under this Act from any other assets of tlie’ Todnee ae A (1) For exercising: the power lo sdll conferred ia*sub-scetion <1) of section 26.'the State Developmenr-Bank or’ a District Development Bank-or. any person duly-authorised by the State Development Bank or a District Develdpment Bank as the case may be, may apply to the sale officer appointed in that behaif under section 35 to sell the properly to which the security relates or any part theteul, ands such officer shall, after giving.notice in writing as required by fabvapation Giof. seution : eal such. property: ie such, manner as aye prescribed, “ a6 a ey ‘the sale shall, be, by publica auction, and. shalt be. hed iM, nthe. lags ge ope to which the sccurily relates is situaled or at the nearest public place if the sale officer is of the opinion that the property ts fikely to be sold to better advantage at such place.

; (H The Sale Officer shall forthwith deposit the proceeds of sale with :

. Bank ur We District. \ Developmen Bank. as the casé tay be.

er ade A at . a ee he State Development

78. U1} When a property has been sold under this Chapter. any person having: aright: or interest - therein affected by the sale may. at any time within thirty days from the date’ of the sale, apply io the Sate Officer concerned. to have the sale set aside on depositing with the Sale Officer {a} for payment to the Slate Development B Bank of the District Development Bank. as the ease may be, the amount specified in the proclamation of sale together with “subsequent interest and the costs and expenses. if any incurred hy the Bank in bringing the property to sale. and “tbr ar w payment to > the purchaser a : a sum n equal lo five percent of the ‘purchase money and . interest an his deposit ati the rate applicable to savings accounts.

5 I'sueli dep ig ‘made. the dale officer shalt mate an order seiting ide the sale,” Gai | Novwithstanding anything contained in any law for the time being in force, where no ipplickition Wilt: ‘deposit 1ériaiie- under salt: section” CE) or-where Siti applicatiotis is: made and - disaHowed. the sate afficer may apply to the Registrar or any other officer empowered by him in this behalf (not below the rank of Assistant Registrar to make an order confirming the sale and on the Registrar ur such officer confirming the sate, it shail become absotuté and the property shall be deemed (o have vested in the purchaser from the time the property is sold.

12 Application for * gale aad manner ofsak. .

Confirmation it sale, e c S M e r a l (¥) sae (3) & aria ofa aifam sree, weee arent crane afubem, ego (EUTE vo Gee) BE TT ae of mT co Tea | TA arse at Prt H owes eT er iam uri et BF ora ania ats fea Sars foes ae oro erga sean Fe fern, aA: .

pene: 3a Baer we, we ath Seal a cera wea A ah fms ar feet waft fears a orgs By F yak go wapaa GT A sos feu aE, fete: a Be HS eg Fe ee Se Hs Fem a or;

aire: don ah ap ver & He a aged, serdar hee fae ke ee : ~ a A ae tah, red fe ee, Fae fee Pent Bra ew atte " seems re ae GH de Pore ee ed fe eh aafs St or, afe 38 wa 8 ofine- sats Ht sat sae and-antt feat ayer Ta satel at a stat aye Tae wR farm are:

4 gly Fae hearth Oa sete a fra, a tes Ph eae tafe wafer a sae fafreTs aA agen doa a ade 8 ate fer onda 3 wh me a, al OT feea carne 0, (4) ae ge fe se ott ae re at a et TH et fe wea ai fag 1. wei Bg en TS OI A, BP fee. fe TG, UR WAM-va Se, Fore feria ah, fara wine, fara anita, 3a wale A, fara fa && aera dem site fear rH &, afk ar mits ferent fara arrafarn tt ma &, fatatte: fare ard.

(2) Ramet dafe & dae Fae wae ceed cua eeegeen ete a ww a araeg int af see eT

(3) span aide ty der sav ty fing art K, se eat afi vA sfefienl ware, ere TATA Ht STE ‘seem “ate xin ofa oe ee a Ad ss aint aren Fr wats & afin 3 at serene Tes ferara fe a fen fara Fe oe A whys 2 % qatvedt ofa we ats orem een & aft ae Say A aa go & aie awe fen “opr ta seer, fer ake oC suet ire mig a oe Fete AAS - area] 27.

fred aie veces Fee, fe fe ye sore a Pe ah ol oa wa Hr HT wa tt & fru Baa AT :

fan i 7 fren fara TF Al 3ifereanTT. ar Te Ware a nd fh BO AR Be Heh wee oe, aT Fe 13

(4) the fmal order passed under sub-section (3) shall not be subject to appeal or revision in accordance with the provisions af section 77 and section 80 of the Madhya Pradesh Co-operative Sovtties Act. 1960 (No. 17 al 19617.

29. The proceeds of every sale under this Chapter shall be applied by the Sale Officer— == apisteihution of Sale proceeds, Firstly, in payment of all costs, charges and expenses properly incurred ed by him as incidental to the sale or any atienipicd sale;

Seconds. in payment of all ingesst.duc.on account of the Igan-i iniconsequence whetrof’ the property was sald: Co .

Thirdly, in payment of the principal amount of the Joan; ; n 4 «Fourthly. in payment to any creditor of the Ioanee who has. in a suit for ‘the sinisration "al his estate, obtained a decree for Sale of the property te which the Security relates: - and 4 aay Se property: wid er, if: thore’ are rtore.such- persons. haaitone, then to: suet persons, “according to their respective interest therein-or upon: theis-jodt. teceipli-

Provided that the sale officer-shall not distribute such residue until thitty days have etapsed fram the date of communication of his decision, to-all the persons concerned...

fm 3 . 20, Wy Whens a ‘sale of property fas hecowme absolute and: the sale proceeds have teen received Grant of Sule il full by the sale olficer, he shall Scan a certificate: lo the purchaser i in, such for ag May be. Certificate, - prescribed specifying the property sald, the salle price, ihe date of the sale, ihe. name. of the person whe af Lhe time of the sale is declared ta be the purchaser, and the date on which the sale became.

absolute. :

(21 Upon production of such @ certificate in respect of immovable property the Sub-Regisirar coaverned shall eater the contents of such certificate i in his register relating 10 immovable property, “y Upon production of such a cenificate in respect of landed property, he land record entries shatl be duty mutated by the revenue outhorily concemed.

AL. A the property sold is in decupation of the loanee or af some person on his behalf or of Possession’ of SEINE PERSOI clauning under @ title creaied by the loanee subsequent to the offering security in favour Property.

ub the State Development Bank an a- District Development Bank and the certificate in respect thereaif has heen gfanied ndét section 30° the Colfectot shall: Gi thé: application of the burch prt ‘ith ecany Person authorised i in this behall. in possession of the Property.

no:

32. It shall be competent for the State Dévelopniget Bank or a District Development Bank 10 Bight of Stale’. ;

purchase any property sold under this Chapter : Development ‘ Bank or District Development Provided that the property so purchased shall be disposed of by such bank by sale within such Bank te purchase | period as my be fixed by the Trustee. property at sale. / friar at Frafes arr aera vite, Tat i FH ATa- ‘ferry arferert at Profs, areer wheregit a aun & Tew wn dT fears Ha a fen firara #5 a3. (&) HT 6 BT TIME (x) ) afafity fart aa & 8a get ea free de ee ao ari fat wer sae wi, a at fren fara’ der offs wr A A we date a sem faa WM &l Jaa sk Sa arr} fee wm feat et fergie fetes 3 ae geen ae ten fictar, aenieerfa, Tw Bohs a wom cr Teh) SIH A aT eI Ae aA, ai TH ge age feu ae fa 7S yee cee a oy, fare sta Fee cnfeation, af ate By, at me fara fe om fan fermra aa gre rae fern ore, sit & viene wei sire orfertes wt wate ste afm, 2ec3 (4222 al Gx) St ay aoe Bt TMT (4) B sea age saafer Sa a oR SMT

(3) tu Frere Fe Fre AR ea ot sere ge fare me ras wt wa wre SH SHIT (2) aes Foye feet eda wy ee wT oo

(3) fier 9 4 gf fife st Toe PamTa qa Feat fren fsa Sa gr aT oT aa

(3) Fe om 3 at ad of ora a4 fens da feet fen free Se a fee fege e 3 erg se ean ere wt ea ete at Soar et Fe feet arena or Fg fa fedden a €:

a0 fe fis ar bu Pte ha an fara fon i ah sur wee i oie fafre =arrera a) ae ara 2 cam fe aR se Aare gro Prope feet wt aE Fea = fe. ae TR BT AAT SLE TER ae ate a see feral am et, cenfeafa, w84 fare fen fae ferwre der at titer ta ST eT -orcifns wt.

ae. wa ie fare Fa area & anes fer wen shh setat of at or yet fae en I ee FH ren we aaaerrars Tet ere Pe fers at woe eT aT HIE TCT SQA Tel ESM Ta ae fe Fer BTA Tel a TE et a ae fie af ay eae arafer a arate wa A vam fren eT M1; fay fed Ta satis ah, AD el fis & Seaftngs o seafe a sifeettn we ere es ae, 58, wenfey, | Wo fare des fen fre See & Fee Fear AGH eh eee wT Hy. afaer, eater an et er a & fo Fe fet Ff 7 WaT, aera a—watt ae (R) mei Ste ita date, oi are ferret on Fret ren Pra Aer ae ore afirgfh BH 4 venta at me &, ovate Bi oret &, set ae eT arom fee ayot Tae Tee Bie Tt TT E ain arenfeefr, awe Perse Ba on fore fer ay cera age & Ferg ere Va aT Be ye a TET err fere FaK BeT “ea Ty FEF ead at a ed se fe eet ha a Wy a & fry vale & a gen ea wr ae a wea ferme Sem en fren Para Se IH seen fen ary ae 8 SIRE fem rae ani 3 RP FR GM, FEL TOT E A .

| PBR: — FG A atc aon Od step m avijt inet avniage, wane dam ay fret fra dq a) cera shea tam 8 ta argo A ee 1 ae t TH, were, we fae de % fafroat 7 fen fare ae a aafafeal 4 fafrféy fear mH z.

14

33. (1) Notwithstanding anything contained in sub-section (4) of section 7, the State Development Bank on its own motion or on the application of any of its branches, or a District Development Bank may appoint in writing # feceiver of the produce and:income from the property alfered ax security or any part there-of and such receiver shall be eatitied either to take possession of this property or collect its produce and income, as the case may be, and to retain out of any money - realised by him. his expenses of management including his remuneration, if any as may be fixed by ihe State Development Bank or a District Development Bank and to apply the balance in accordance with the provisions of sub section (8) of section 69-A of the Transfer of property Act, 1882 IV of 1882}.

(2) the State Development Bank or a District Development Bank may, on its own motion oF en an application made by the loatiée ‘und on sufficient cause-remnove a revetver appointed: under sulsection, (1).

Appointment and power of receiver.

(2) A vacancy in the office of the receiver may be filled up by the St Developrment Bank 0 ora & District Development Bank. - 44) Nothing i in this section shall ¢ empower the State Development Bank or. a . District .

. Development Bank to appoint a receiver, where the property : is alerady in the Possession, of a receiver ‘appoined by a Civil Court: ;

Pravided. that-the State Development Bank throogh. its Managing, Disco Ob f istic .

wane - Development:Bank shrough jis, {General Manager may- Elen petit to direct the receiver appointed by il,to apply any part * e of the e balance of the amount realised by him to the dischaige of the’ migutit’ due: (o" the’ State Development Bank ora District Development Bank, as § the case may be.

“AM, When.a sale has, been made and confirined under this Chapter, the tile of the purchaser shall not be impeachable 6n'thé groiiiid that no causé had arisén to authorise the ‘side or iat due ‘notice ws sot-given sot (ial the power -wvas siher-wise innpeopesty of: -drregularly- excised, ut any petbon damuified by sn unauthorised or improper or-ircegular exencise of the power-shall iheve-his-rentedy in. damages agains: the State Development Bank or the District Development, Bank, as the case amaty be, 35, The Registrar may appoint Sale Officer for the purpose af conducting sales under this Aci.

- CHAPTER-VI' MISCELLANEOUS...

36. (1) Where any property offered as security to the State Development Bank ot a District ‘Development Bank is rendered insufficient the whole’of the loan shall be deemed to have fallen due atonce und the State Development Bank of-the District Development Bank, as the case may be, shall he entitled to take action under section n 23 or section 26 for its recovery :

. Provided that ‘AO-a6tion: shall bo.taken uniless.the loanee:has been given reasonable opportunity "ul ducaishing. faithér aeducity-eulficient to-cover ¢hesgap. orzof repaying-such postion of the loan as nity be determined by the State Developmeni, Bank.o¢.a District Development Bank and the loanee has failed to avail of such opportunity.

Explanation : A sequrity:shall become. insulfifient, withia the mesning.of this 2 section if the value of the property falls below the amount for the time being due to the State Development Bank of the Distcict Development Bank by such proportion as my be specified in the regulations of the State Development Bank or the bye-taws of the District! Development Bank, as the case may by.

14 Tide . ot purchaser not to be lexpeachable.

Appeiniment of - sale Officer Powers of State Development Bank or District Development Bank in case of insufficient accurity or.

miputitication of lean, feng 71s % area

(2) san an genet fag A st ea A ae ae wre fer see wt BET eave eT Te 7 & ath, genfeata, ws feesra Sep on fren faare Ses seat sae & fee wT we a UTI te anita arta wet & fet wer FT.

39, (2) sare, 90 ferenres Seg wy wafawedl 3H Pees eT 2a AT TT 2G a aT ae Hare ITE ate fama sit ae wm fee 2 warm aft oft wes fare Sa ten a A ahem wen too de ee ee eT ‘Tpater a ferewe ey fragt 24 at wa frm &% sft whet Pare 1g Runt ur ae a altar.

€ tt caret tet eas TT.

(2) Wa fara Se a =aet, fren fewra Se wt oafereelt H free err 3 A TT Ae A UT 26 ah see 1 Ge en oto Fe Prog Ret Set she oem Fe ahs A saratoeem s, Pre A ae Reheat ae:

(3) wee Tea frre Ser Ero THT (2) aretha ators St at &, ae ya afafran ott ga sia we 1g fare Prot faba aie set pele A pa ve OT eH APT we Teel A | fren fame Her a yA Fare a ater Fre ee fawra te & ofa fren &

(8) rel are are ge (4) 7 (2) & atin ated at anit €, aei afetion sik sam anit arin ; re a Rape seme ae ede A ee ey HY aeat aes eee Scale, “an Tore ‘parte he fal fra ny enka fain sare wf Pee a ¥. crear an Feet fate arate fired arr & wt TE of, wea ferere das a fren free de ge et ey a eh ai eR, wer eh rat Aight Og ake eh ER.

Bit fee fie Qa ae SER, =a ae ates Ske at age te ae aH UR CR et sy ainda ammet 3 fa 0a es Fas AE LY xt. ca) eee vgn fr Fa a arate fd an & ATLA fe fen ra Sey ss re es 5 ve ag Ted eA eT eT Pate ae Gee fis UTE ewe Tree am fate Be ahs ofan feet ac dered } form, Fam aren @ sre al ple aoa aT fort fee "an, sm Pages A eh aT eae ar eenall Be are | freer wt WBA BE IT & fora sere Ase wey St, at eee faPhe t, aah a a at ra wen Sr ay tee ee 8 fre ee th abe 8 en Hed en ea fe fe me

(2) xy swint (4) Ha sates & frat Fe A Me ae eT A Ate fe | eed Grane a Bie ara weed, fren ferora Sa gre fern sot fie a afr wa mes Den Hy Bt eT Se BE a ade cee t, Ae wt Be sea &, forcran firgor 3am BET F feet a &, Paws es 8 a eel neater & aqER Shh . ae re af eH wee we eh ter & Eat ee war |. fe fafen fara ary, faen-faere fe stat.

Ca) te ee (1) A eet et el 9 Se eed - ce oso MRE Hep 8 ree Ted fat eT (4):7 Pee foo aaNet dremel 8 ge ae ste seared a ete eA ST ME Car ee ET HT Te LCT He I TH pa ee aaa SY cen A sere 4 a | eqer ay tht _ (1) ae fers 9 fe foe A wei we fF i Ae Haare ene Se et Mees aA AY a

(3) facet Proera apend stemed a farat ara deensit ger seem (2) & area fran aren ae Bera, Ted arena on den we fave air Be dats F ferfiesy ste weit ere.

15 W i m i w e

(2) In case of misutilisation of Joan, the whole of the loan amount shal] be deemed to have fallen due atonce and the State Development Bank éi'a District Development: Bawk, as the case may be.

shall be entitled to take action under section 23 or section 26 for its recovery.

37. (1) The Trustee may direct the Statc Development Bank to take action against a defaulter under section 23 ar section 26 or section 36 and if the State Development Bank neglects or fails to do so ihe trustee may take such action.

(2) The State Development Bank or the trustee may direct the District Development Bank to iake aclion agains! a defaulter under section 23 or section 26 or section 36 and if the District . Development Bank neglects or fails:40-d6 so-the: State. Developmen Bank or the trustee ma take auch action. . : Roe , mone

(3) Where action is taken by the State Development Bank under sub-section On then the provisions of this Act and of any_rules or regulations made thereunder shal] apply in respect thereto as if ull references tothe District Development Bank: fee Sc: pmv eons were references to the, State Development § Bark. -_ af te

(4) Where action is taken by the trustee under sub-section (1) or. @ then the p provisions of this .

Actoad.af any: rules. or regulations made thereunder shall.apply.i in-teggnct thereto as.if all. references 10 the State Development Bank or the District Developm Bank as the. case may be, in n the said provisions were references to the trustee, ® Notwithstanding anything contained in any law For ie tre Bein Foe, the improvement, if anyo tnade by-the- owner or lessee.as the! case may be of the property fubnished as security subsequent to the date of the advancement of loan by the State Development Bank or a. District Development Bank, shall be treated as accession to the property and shall be available to such Bank for realisation, of the loan advanced.

_39.(1Y Notwithstanding anything contained: ini aity | law for the dime sing ia force an a applica for a loan from a’ Distriet Development Bank. may execute: an agreemeat-in:favour-of that Bank providing that it shall be tawful for the marketing co-operative societies-or- any other institutions constituied under faw through which the agricultural produce belonging to the applicant i is ; marketed, io deduct such amontas may be specified in the agreement fram the sale proceeds of sich agricultural produce markeled. through such co-operative societies or institutions and to pay the amount so deducted 10 such District Development Bank i in satisfaction of asiy dein oO other demand due from the re applicant io that Bank. .

(ri) On execution of an agreement as provided in sub-section (1), the marketing co-operalive - aaciely ar any other institutions referred to in that sub-section shall.-on a requisition, in writing by | the District Development Bank and so long as such debt or demand or any part of it remains unpaid, "make :t deduction, in accordance with the requisition, from the sale proceeds of the agricultural produce belonging to the applicant and marketed through them and pay the amount so deducied to the District Development Bank within such period as may be prescribed from the date of deduction.

"> bb if the market ‘Co-operative Society or-any other institutions ceferted fa.in:sab-tection (I) fails ts make te payment:to the Bank within aforesaid time, the marketing co-operative societies of any olher institutions referred i in: sub-section (1) shall be liable to. ,Pay interest on the. amount 80 recovered at the § sainé raié which is recoverable from the borrower, in case’ of défault:

(cl Alter recdipt of the aforementioned deducted ‘sipoune by the Stme Development. Bank ‘or District Development Bank, . as the case may be. the obligation of the borrower shall be discharged upto such extent,

(3) Any payment made. by a marketing co-operative society or any ather institutions under subseclion (2) shall be valid and effective against any demand upon such society or institution.

15 Powers of State Development Bask and trusice te direct disiraial and osake oof produce and sale of property.

Bank's right tu | im prevements effected te the gee wl sted trem sale preceeds af agricuttes at preduce in certola cases.

ofayfa fearen ardaifeay of aed aah weryfa & wa rears watt fees =O wan wet wt wifes or Prdart, aA waferdy at Tet 8 an Se ei wae - PR eeferat eh falter fear fen, e500 (e80¢ I. 4) Cx) SOUT (2) alah fave wea Ae Aa ge oH fae ae we wt ag che at a PZT ere, rere ay feta ane are, ee Patina wife weer aftr aed eh.

(4) wet san BA we GT Ue a atfien Seat a sor Ferg my E, sel Beet at THA wT fae afore gro, aHa-aHa He, Fre eS fetes fet & ste wafer fen ares.

so, Wit Fearon afuPran, 2820 (2Qzo BIG. 4) F aefihe fave ara we Ee of, TH fers Sa a fret fren faana da & va 8 yfse a ve ving St ea are T fe oe YEA Bre afore were: pls el at ng a Te IIT fs ae TORT &, a, erred & yaa A RS faq afeera 23 a fer a ad tt, wevne WAT fer aT.

ve, (a) aah akrtin afasPram, cet (need WH WL) ar ereTS fst sara tera 3a Fah arn HN Lo, aN Rah ag BT ee at 6, eT eT fire art & weeny ara facetnfia a atafer eT a aT. pe °°) aromrta re a, Leek (HAE Zo hg) ae aU teat) ae ye afte ie ade ah iy A peas deft For ae self a aera wee fead fete a arate fardt wea BHR ge +f, es fer Se a fae ferere fe os A serge 6s A vege at oe eh eet saree wt feat & Fromes HGH I rx a Eos eer ce : . gob es an

(2) 88 Badan, viedo aft ect & sents age anttren aifraatcad Bi cer we Rew Sa; att fren See gre fafa gone a fade. are ore, eH Fafa fngT TEA EU Wi fe Fates wt ay, Chee OH fsa fae & 28 oe africa, a fang 1¢ €, Freafeafeoe wat & eas & adhe ag firemen at BT "fara fafre ara a fates eet €, set, — .

(%) fsah ie fe wrt ae eT HIT TT HT ST;

zeaeal St te wel & fee er Bea, AR wate wi atten & fore Stes ARE ECT.

(a)

(m)

(2) Pent (2) Bea a Tae ah stan BU wan fin we TH TG Tae Het ae ay 8 a cab eed 9 ot re £ saga fiesta A 2 tt oh afte rh mae & ag Se tet arent 2 a te By aa

(9) ret oar ey, Paes toe oar ( 4) TUT (2) ares a fg a Feet SEA ag ogee eh ced hr tt 6, 37 cette a vat aed ot a ate, fod dar fear sreere GAA, BA at ew seen frat eT saflepe ET wee eit AR Fa ER set mg yiafenral, seas @ tet fa A, fete Vt se wees ex St ug , fis veto & fore sat “he A ate sal hen we wed Fo wer Wt Sa eae, as cea aT aah F- wffeat re7 ere €. :

x) BRE fe, SI goer () A STURT (2) Bs sree aE fay ag fied we, srETTAH aT STE harp a erg wit tq & fen raat che, we THE afar OT RA TA @, oh ws TER A fer as eh ev aie er AY ai, eeETS EMT:

6

(4) Notwithstanding anything contained in-sub-section (1) the amount of deduction from: the sale procecd shall aot be more than the Percentage declared by the Regisirar by General or special order 18 this behalf, (31 Where loans have been taken by the borrower from more than one Bank the distribution if the deducted amaunt shail be apportioned amongst different Banks al such rate as may be fixed hy the Registrar From time to time.

40. Notwithstanding anything contained in the provincial Insolvency Act, 1920 (5 of 1920), any security furnished to the State Development Bank or a District Development Bank shail noi be called in question on the ground that it was not furmish&din 6d MIT ToF valGablé Consideration ‘or’ ov the ground thit it was furnished i ‘in order lo give s auch Bank a reference over the other creditors of.

the. hinec. . . Le oT! eae Wat ee Ct at ( tH) Notwithstanding 2 anything contained 4 in the: Tans 0 of vas Act, 1882 av df 1882) or any ether enactment for the-lime being i in force no prover 9 ‘offered as Security shall ‘be encumbered otherwise or transferred thereafter.

12) Provisions of Miainya Pradesh Land Revenue’ Code, 1999 a0 of 1959) sal eoly ve a pinperty offered as security upiler this Act.

eo oe erst aw Névwithinsnding anythiog contained :in.aiy law for: rthetine beingtn Fetes sactwity subniitted as guaramee in favour of State Development Bank or Distt Development Bank shal “ni be anached | in execution-of decree of any court.

42.(1) Subject to such restrictions, limitations and Conditions a3 may be prescribed, the - Registrar and such uf his subordinate officers and other afficers of ths State Development Bank and Disitect Development Banks as are authorised by him in.this behalf by a general or special. order in weiting.-shalt-have the same powers as are vested in a civil court under the Code of Civil Procedure, ~ 1908 14 of 1908). when arying ai suit, and exercise them in respect of the flowing matters; namely— {a} enforcing altendance of any person and examining bi on oath ¢ or r affirmation;

“1b) compelling production of documents; and {¢) issuing commission for examination of witnesses. , 2) Any of the officers authorised by of under sub-section (1) may require any person lo be present ‘before him to furnish any information or to produce any « document then and there j in his pessession or “power,

(3) Any officer before whom any document is produced in compliance of an onder issued under vo stib-anttien th) sub-section (2) shelf have the power-te tke or i aathorige theltiiéinig oF, sach’ - copies of the documents or of any entries therein as such officer may consider ‘Wecessary and the "copies so taken shall, when certified in such manner as may be prescribed, be admissible in evidence Jor any purpose i the tame masner and to He same exica ss the criginel document or the ence 7 iherein, as the case may be, is admitted, (41 Any person who wilfully or without reasonable excuse disobeys any summons, requisition or urder issued under sub-section (f} or sub-section (2) shall be punishable by the officer concerned with fine which may extend to five hundred rupees for each such. default:

16 Security not te he questioned «in laselrency proceedings.

‘Restriction 0 power te . Encumiber (or > trensfer the Property effered as svcurity.

nm of vitbeatls and requisition.

ethene ye RB gat Fics ap ae RA wa fears fs an fixer free Se art ene ann fPareghRTTL g e e t pS cay ie ware BY en a Fee rar aL ag ren AF Poet aT a, (2) eaehere afi, R806 (C806 HT. 28) a eee age ret ora fafa A arate fecch wpe Be A eA, TH Perr ea re ie fee es eH Ssh wT COTE seren arwyr Ue, HE we SAP THT TL er i fren rae Aes RR Ta Sher ate deh te 3, fea at ae, Ae, Pre etn fini wy arse se years fee erent afr Wena at #, aw it ge afore! anfiremrét et fra Ser & forerat snfersften at atta soratt & vtec wipe afloat sae BE vam fern &, atte ten hares itt PARSER, AREA, G00 (Ree ATA AR) TAT at ie apes matali are Farr arate 2.3 elie ho ee sen fone es He re wh ea He es, et ae fremrer dies = fren fers BA 5a AEAARTERE THT ATA ENT FH Fafa fare Poet ar tad: fle atten see se oP afefe fina &, BY soar (3) & at yan 4 Bo, DT STH GHA, AAS CHAK Ro FL WS) 3a arate fire am & BR ER . sa Se, see ce en le eff Hi ee Tae? ofa se daw we om wt we Hoe Pro er an ae seb en A AAS ait aaiferr wh afte er wee et Te aR ee ah Ie ft se writ mde 2.4 fe7 * se rey wT Be era wt fae Teraay AT AT zarawt | wT pfeafecett a TR.

qu feera & sanwtitn Paftedé 2% Parew fuera fel ott fRrame gromm 3, ¥ aftr ta HT APY EO.

ger = wt ihe ater tery at ote se, Fe Pr des ew GE agg ws Pravs seafes oe Ge Fo 2 a att seats te were TF oe ° :

cee Rays aban Re etl aes WHEE aq Feesre den ae mare era whe weeny, faFeiee oe ep a a ae sor en fre ot eer er BR ses atten gh ate en eT we aon Rh oT yh TT se co Fes es oy aah Gr ay eng Paes Far ant 9 fe wee Fen feces Toe G4 MRT BU wT et we eRe Hw RAH & fre we BENET ANE Sra wee seer oh te Free, AT a HATO ok fe centr eh eh real hf ed se ver wwe, oe Ee ah ene thts, wae eRe A, ffs wt sir wc of, fod Sc

(a) Se aah te ae hon ae oes Re, a, I Tene ee Sa mes ert €.

Ty Ae aage Baglin Lig ad awh TR og Hah sie rade fren fee eg 71 Pet AR, aaa pave eR ie arse Wt Mead te hegre Sort Sey TTA ca vo, wu anh ya afvan aedel & ares Peet safer at hf feo eS aT ae £, wa tet gern tte Tre Bre Hae wafer Ae .

, 17

Provided that no such fine shall be imposed without giving the party concerned an opportunity of being heard. . es

43. (1) Notwithstanding anvthing contained in the Indian Registration Act, £908 (XVI of 1908) ar any other Law for the time being in force, it shall not be necessary to register the security furnished in favour of the Siate Development Bank cr a District Development Bank, provided that the State Development Bank or a District Developoement Bank, concerned sends. within such time and in such manner as may de prescribed. a cony of the insteument whereby immovable property is mortgaged for the purpose of securing repayment of the loan to the Registering Officer within the local limits af whose jurisdiction the whole or any part of the property mortgaged is situated and such Registering _ Ollicer shall file the -eepy in-his:-Book No. | as prescribed under section 5) of the Tadian Registration Acl. 1908 (XVI of 1908).

“(One any ‘of évery ‘mortgage decd exécured shall also within thirty days of its receipt be forwarded hy thé’ Stafe Devélopmetit Bank of a‘ District Develupnient Bahk, as the tase may be, to jhe. Tehsildar-on any: offier' officer aa may be specified by the State Guteremieit in this behalf within ~welinse jurisdigtion, the land:@r-peoperty is situated for the purpese of making ncoessury entries in the land records under sub-section (3).

(3) Notwithstanding anything ¢ contained in the Madhya Pradesh Land Revenue Code, 1959 (No, 20 of 19591, the Land record maintained under the said Code or tecord 7 ‘maintained under any "._ othée-law, shall also-includé’ the particulars of every charge on the land'or propétty or intéfest created . under the mortgage deed or document executed and a copy of each entry so made shall, within: thirty _ days af the date on which it is made be seat to the Bank concerned. .

~*"44"° Notiithilanding that a security furnished in favour of a'District Development Bank has been: transferred. or ts. deemed to have been transferred under section 20 to the State _ ?

on ~~. ty Bask to retetre Development Banke 70. > - fa) all moneys due onder the security shall, in the absence of any’ y specifi c direction to" “the Contrary issued by the State Development Bank or the Trustee'and communicated * ~ tg'the loafiee shall be payable 16 the District Developaiett Bahk’and ‘sich payiient io shall be valid as if the security furnished had not been so transferred; and tb) the District Development Bank shall. in the absence of any specific direction to the contrary issued by the State Devélopment Bank of the Trustee, be entitiled to sue or take any other proceedings for the recoveries-of moneys due -on the “security furnished.

45, The State Development Bank or any District Development Bank: may grant copies of a any.

document oblained and kept by it in the course of its business of any entriés in such documents and any copy so granted shall, when certified in such manner as may be prescribed, be admissible in evidence for any purpose in the same manner and to the same extent as the original document or the ‘entries (herein as the case ‘may be, is admitted.

46, The provisions of Chapters Ui], 1V and V shall apply also t0 loans advanced by a District Development Bank from funds which have not been botrowed by it from the State Development Bank.

"47. Wherever under the provisions of this Act, a notice is required to be given to any person in Writing. it shail be sufficient to send such notice by registered post.

i7 Registration of document = hy S-t ate Development Bank or District Development Bank.

pe Bay Development meney sed grant valid discharges.

Proof of documenis or entries in Application of Cyapters If,: iv aka V te foons advanced by Btitrkesr - “Development frim 7" State Derelopment Services af motices.

Tr free fe ant where aay at were aint, BDU aeder Bte vars erst we ve. Atfa aera afufrag, eceze (nce? Bt x) WT UAT toe ST 03 HB ae gar etait % Wate ot aretha eet & fer seat ae cow & aly wag ae fel fret & ave, wei we A we, ya sfefar & ais ania at ar eet wera geal & cay A ary aa.

68, tre farara Sa an feet faren fara Bes at vitor wy wr ae ao & fly ea afehiem 7 ads fing 1g feet arr ay eee Saft & Peet Pens A tS Sere Ste afieerd a antare (fae 3a fe at ak 8, free fe oe afin a ahd t) dh att dt fers afer a ay aie, "fd ta firma 3 cde a Peet ster ar aera eer fF. et sofa & ferg wear: ar otter: 1d af Corre re eee fe aa See a 9 fa ihe AT APY UT .

ke, (4) ee frre Ai or feel Frer frare ts wa oe afer, apie a ee re afefran ay dats ands ware 7 frail a wean Geant shed afte, ho (WH. We TUREL) wae saad weary, 0g Presta soda By, anita ell sexs wed aren rae ar eT. fee meeps nee need weds oe, Leko (rege mE we) hr ae and era hs oe eae

(9) fu afer ard Meera WA ne eeu Wt we. dae Seen Peat ty eee mira er ea ee ate ara eta ae eh i a: “ste Toe ree, aie ae wnt, ‘an 3, a 99 & ants ot et eo ate a Fai a BH whe, am 2 srafien Geet 9 fsa oe ef det alte et wera et BT, fri 4 wm cient 7 sem Tete een at ase een at weded & ar ceed an ART em "(gee Pre as iy fen flew is, Treo TAR RE hear ah sig “Sefer srrerecrs: wh, tet fe 3 Stet far fafa wt ore, oe fennta dr ar fren fren tar st wren Sn ewer ne RE ar cis om a wii ate Ta eM a Aree UTE - weet & weal pre at me offs a fore fires aentu.

sfuPrad F932 aunt ¢ fine:

fora We wr bib A & nendy we Te ay He, 4a, Teme Tee fine fate Y srafthe ft am & 8 ee .

(@R) Ter Pear er a fiveh Foren fear fm aro fe yf que a Fe afer a Wenn sia weitere Pere fee ne wend a dy sherpa fq gee & wat TH, - Te fh te © yw we ig anf fg aagea Ae yet FRI A PRE BR;

@ ae if < gehius 8 vain d wore tae ieee hee ee 1g Freer ar aed Se Wer PPIT BTN APT fe ae fren Heat a saa TEAR a wih fey t an WRN tr see AMPA & sneer & fees are dunia are st eri,

(2) 1 mre A, aed awe fry gga St ofa A fect rae a ah algae fiw ati edt meat at ght ve gure BH a fire TAs flaw) fre sre is a oe Hats Ta? fire 18 wes (2) fey starerenen atte deena afehrry, cee Cegug Te. 22) Bt ere c fae fmt

48. The provisions of Sections 102 and 103 of the Transfer of Property Act, 1882 (No. IV of 1882), and of any rules made under Section 104 thereof for carrying out the purposes of the said sections shall apply, so far as may be, in respect of all notices to be served under this Act.

49. At any sale of movable or immovable property made under this Act in order to recover any money due to the State Development Bank or a District Development Bank no officer or employee + of such Bank {except on behalf of the Bank of-which he is an officer or employee) and ino sale officer or other person having any duty to perform in connection with such sale, shall either directly of indirectly bid for or acquire or attempt to acquire any interest in such property.

50: (1) Every Officer, employee or person of the State Development Bank or a District Development Bank or an authority exercising or authorised to exercise the powers under this Act or the Rules made thereunder or under the Co-operative Societies Act, 1960 (No. 17 of 1961) or the Rules or Bye-laws made thereunder shall be deemed to be-a public servant within the meaning of Sectiun 21 of the Indian Penal Code, 1860 (45 of 1860).

Application of provisiens of Transfer of Property Act, 1882 to notices.

‘Officers of Banks and sale Officers not te bid at sales, Officers, emplevees or persons te be public

(2) No suit, prosecution or other legal proceedings shall lie against any-such officer, employee, Person or authority for anything which is in good faith done Ot intended to be done undér this Act, "51. The State Development Bank may, if it thinks fit, delegate all or any of its powers under Sectiog 26. 27, of 33 to a Commitice consisting of not more than three meiribers, one of whom shall be the Registrar or his nominee, not below the’ rank of Joint Registrar. ow

52. The State Development. Bank or a District Development Bank may, from time to time, _ with the previous sanction of the Registrar or any such authority as-is necessary, in. such manner as “may he preseribed. open branches or Regional Offices of the State Development Bank or a District Development Bank at such Convenient places as it thinks fit.and carry on operations through them.

53. Notwithstanding anything contaived in iany law for the.time being in force—

(i) the Security furnished in respect of loans by the State Development Bank or a District Development Bank either before or after commencement of this Act by the Karta of a Hindu Undivided Family for improvement of agricultural land or for other .

purposes enurnerated in this Act, shall be binding on every member of such Hindu Undivided Family:

(ii} Where a security furnished is called in question the burden of proof shall be-on the objector. - - ,

34. (1) Section 8 of the Hindu Mizority and Guardianship Act, 1956 (XXXII of 1956), shall apply le security furnished in favour of a District Development Bank, subject to the modification that reference to the Court therein shall be construed as reference to the District Collector or his nominee, and the appeal against the order of the Collector or his nominee shall lie to the Divisional Commissioner.

- (2) Where a minor has a joint interest in the property of a Hindu Undivided Family, it shall Hol be necessary to seek permission to mortgage his interest in favour of the District Development Bank for advancing loan against the security of such property.

18 Delegation of Powers by: ‘the State. Develep- - tient Bank Opening of Special provisions for — security’ furnished =oby — Karta of a Hindu Uadivided Family.

Section Sof Act32 of 1956 to apply.

District Development ‘Bank subject. to certain ond aT Br, et, wen anf afer afnge & =aarera @ stat ate oh rae va safe & aha certs frat Wt arrae a freer 7et ee.

fran war Bt we. (2) Fea AOA a afaPream TRS ahd a Tae | fine wate et eral we miter. fay fram I BT.

(2) Pafirecmen ate gebrct safe ai carmen re forge sure ere Fara, Ra Fret Fert aes Pawel ar Taw faved fra & feng TE Bt BSH, re: — (#) “(m) | LA.

wal vlLar ©.

@ Cay “ (a)

(2)

(8) (B) 2 Wye on ).

(a)

(2) Ca 6) 8h gk et .

aM We;

ru) a ae ea i fo OT emt 2 2) a ae asm ed Sse 14 (2) te ae fe a A Te .

“cagra 96 ay and ae Pe, ct fd on i a Favera fara aren; ; .

wa ee (8) wo af we a 6004 ae, fare. 1 Tan, HA FT ET Sane) ay eT Te Te Ri FT wo a (2) an A Fe a Re URT 30 Ci) ae eda perms wr ver St ag Pra TET, ern a (2) 3 a ae tera Fi si es TR lr ET;

‘art ¥3 (2) & wet @ Free, chat at ie eae eee :

afarai. gin;

Ut ¥2 Cy 8 fr ra Pe eT uid ¥3 (2) & aus ae Baa, fe fe et St art .

“a oh th ok ed a ua og & ata ae ih rad GA igh ofiora ware, arg ar) irae, farran fariea fiver en Fa aafisttre 3 aves avafins & a SH fate faq a a 1 firme tte 4 fram ay oH BS.

19.

ea Pa -

33. No cour! inferior to that of a Judicial Magistrate of the First Class shall try any offence punishable under this Act.

36. (1) The State Government may. make rules to carry oul all or any of the purposes of this Act. :

(2 In particular and without prejudice to the generality of the foregoing power, such rules may provide ler all or any of the following matters. namely:— tn” the terms’ and conditions for constitution “and F Section 9 (1): mFS

(b) “the rale’ai which ihe contribution shall’ be made ‘under Section 912); - dep ve lie manner in which. the fund shalt be maintained arid- atilised under Section 9 (3);

dd er mit in which covey sal be ininde un seca FR, Fre fe} the manner in which, the authority by which arid the time within which the application , stall b be disposed of under s section 16: . - : Bu me Ey . LO Ge Seat me : (al, oof | it) | . the: form of declaration i in, which aflidavi shall-be ‘given under: Section i8 wo ‘ ‘es othe Vrms uplo. which, the loan shall be ssn. under Section: 18.(4% “ (iy the form of notice which shall be publi vundet Seclion. 19: (2), ti } the manneée in which ihe property s shail be sold under Section 27 ( I.

im the form of certificate which shall be gamed under Section 0 { Us;

ky the period within which the amount sh shall be aid under Section 39 Ok (hh the restrictions, limitations and conditions subject to which the Registrar shafl have powers under Section 42 (I);

im} the manner in which Ihe copies shall be certified under Section 42-(3);

ES TE ‘ «be sei under Seton 4 aye a _ tn) the time within which and, the manner in which the copies of the. | ppramerh shall

(0) the manner in which the copies shall be certified under Section 45:

seine deat ge Feat ve dt Sy ot hoe ie lh pe ta ae (py the manner in which previous sanction ‘hail tq) any other matter which is required to be or may be prescribed or in respect of which rules may be made under this Act. .

19 ion of guarantee fund undet - Lip crore PR ao obtained under Section $2:

Cognizance. af offences, Power to make rules,

(3) Fa aferrag & ait are a aes Fee Terra F panier fre amet otk faearrean ye 1 ai, rarer act te ue. (2) 1 faare tar at fren fare Say an geiden ae st era aferal oF wet she Pefron wnt ae Tey ate & qd anphes & seas wd eu ee dey F fafa wa aden Wh re afehen & wea Pree Sot aad anes wae AU Prat & angen ey ath at mene aeart deed afefam, eego (IRIE wt vier, to ECE) A THR a aE me Feat ee a area eT aE

(9) fees ae ed ff erve g fe Fe # fe fawal % faq aie eh ear, ce ()

(a) > (a) _&)

(a) — (®B)

(4) (3m)

(a).

Fe frre att er get oe rete te fazer Renee ar tek immer a Praca we Foe wee a Fe;

fare fever Hest en a0 Para Hes ata Gent & frowenfiew ifr fire ott aes fore sh seat tee ct fit Fen Fee BRT aE aH ne a rT fe;

we we fret ae & fre fer fer eh ah ater frm wren ate ba wet & fore shiny & ea A wenita st wy aiohrat yaa & fry, won at gd By amber 8 a iran er eh ae Fe, see wait @ ao ng wr Fara Fy UR 2&4, ai ri tz ct oh eth fe re Pere ef a sgaf flrg wh ak te Aes ze fe fe a 8 i ae wir & fera; atte ‘ AIT: es sf fe whet we we fe feet ate Ke. (1) mere Reet a Fre ati, LREE (HAN 2 FL UR) VaeETT Prefiza aaratera. fren arm t.

a) RR Bn, ge a i ae a Te Py, fe 7 ate ott sfingermg ya afafrm & ais wre: Tay Ty a Ot wt TE wat aT,

(3) areny ays five fate 3, or feret afer Y sinftte feel we & ed Ee, Ta afefan 5 ote BA afte 8 pene Ts Ue fh Pre de ath snaftes yf ara Sei at dgot safer ae afea, after, te, fer att arerad, wenftaft, a9 free da atk fren fama Sat ay state @ set atk a5 fafa et ands, she agett Tor firma dhe sie fare feeva da arat A fife sterat el Sat wart vate ao wast AP AEM TI aeaTt yfk Pena da ae se wefteR fh fers Set et auf wofrat we faava Sa sh Tee fixer feewra der ae} auf at ae a.

20

(3) All rules made under this Act shall be published in official Gazelle and laid on the table af the Legislaive Assembly.

37,01} The State Development Bank may have general powers of supervision over the District Development Banks and may subject to the prior approval of the State Government make regulations. in this behalf in conformity with this Act and Rules made thereunder and not inconsisient with the provisions of the Madhya Pradesh Co-operative Societies Act, 1960 (No. 17 of 1961} or the rules made thereunder.

(2) In particular and without prejudice to the gener of the foregoing power, such egulations may: provide for the fotlowi#ig ‘matters, namely:—"

(a) for inspection of the account books and proceedings of District Development Banks;

{b) for’submission of returns and Feports ns by Dist Devs Baitks in p reépect of ibeir transactions:

‘(e) for periodic setflement of accéunts between District’ Devélopmemt Banks and the Stale Development Bank and for payment of the amounts recovered: by District Development Banks on securilies transferred or deemed to have been. transferred 10 the State Development Bank, td) Cor the form in which application to District Development Banks for loans should be made and for the valuation of the properties offered as security. for such loans;

{ch for prescribing pracedure for application for grant of certified copies:

(F) for investment of moneys realised from loanees; - igi for the programme and policy to be followed by District Development Banks for advancing loans, the duration of foans and the rates of interest to be charged thereon;

ih for the types and extent of security to be obtained by the District Development Banks for advancing loans; and .

vi) generally. for carrying out the purposes of this Act.

38 ¢1+ The Madhya Pradesh Sahakari Bhoomi Vikas Bank Adhiniyam, 1966 (No, 28 of 1966) gs fiers repeated.

_ a2: Notwithstanding such repeal. all rules made, orders and notifications issued under the Act bereiy repealed shall be deemed to have heen respectively made. or issued under this Act.

_ (3; Notwithstanding anything contained in any law for the time being in force, or in any costrach am and from the commencement of this Act, th entire assets and Habilittes, rights. title.

imerest and obligations of the Madhya Pradesh State Co-operative Land Development Bank and Primary Lain] Development Banks shall stand transferred to and vested in the State Development Bank and District Development Banks, as the case may be, and thereupon the State Development Bank and Disirict Development Banks may enforce the mortgages vested in them as if the properties mortgaged lo the Maudhya Pradesh State Co-operative Land Development Bank and its Primary Land Development Banks were morigaged to the State Development Bank and its District Development Banks.

20 State Development Bank's Power of supervislon and af regulations.

Repeal Savings.

and

(x) merge er aeent fe feparea aes afte mrefines yf fasorea ateeE a We eH, feat wee ait duet ya afubrm & ony at ode G, aenferta, 8a frre da sie fen fare Fe orn ure, feder une aon fadtenal oor amet sik a tea fare Sen sik gees faen fase ai en aes, fede oel ven eavaaistt & wee afer oth fewenfinant a soe ath,

(4) faret st wer at aren dirend, dea, facts, aut sth ar fered, st Fe afePran & oH ?A arta wt faa a woenta F atk fae nee weg ceer-ufa faare ae a RE Mui YP faara Sa Ta TER 3, tet arta 3, wenfeeta, wo farere Sa a aeert fen feewre Se face W 3am va 7 Dia: ya atte wraeier tit athe om rere dae. wen fret farrel ar gra OR:

an qurrant afa @ sata +) wn wert.

(4) Wey Beant uit feraira aie, wrallfes Pee ats gra orera (2) To Free aera % ais are my fafa, wet ae 8 ge afer ate rae any eat oy fro oh serie Garena mal &, 5 G8 AFA ow fk ee ern Bars fe Ff we we Fee et “A © ay wee oe teh Pete en ee fag ah Ne afte fern at of were feline arterial, oat 3a anfiahram & arto oe wif &, tat atte & os fara fe a a se fag, So 21 ids The Share-holders, debenture holders and depositors of the Madhya Pradesh State Cooperative Land Development Bank and the Primary Land Development Barks shall be decmed to be Hie share-holdces. debenture holders and depositors respectively of the State Development Bank and District Development Banks. as the case may be, from the date of commencement of this Act and they shill enjoy ali the tights and privileges of the share-holders, debenture holders and depositors of thy Sie Development Banks and its District Development Banks.

tS) All contracts. bonds, deeds agreements and other instruments of whatever nature subsisting wc havia effect an the date of commencement of this Act and to which the Madhya Pradesh Siate Coeopcraave Land Development Bank or any Primary Land Development Bank is a pany shall from such che be of full force and effect against or in favour of the State Development Bank or the srespanding District Development Bank. as the case may be, and may be enforced ag fully and eflevtually by the State Development Bank and the District Development dank.

{61 Thy regulations made by ihe Board of Directors of the Madhya Pradesh State Co-operative Lant Development Bank Limited under the Act repealed by sub-section (1) shall in so far as they arc nal inconsistent with the provisions of this Act and the Rules made hereunder, continue in force until altgred or rescinded under this Act.

(7) All notices issued and legal procedings instituted by or against the Madhya P Pradesh State Cooupenitive Land Development Bank Limited, pending on the commencement of this Act shall, from such late he deemed to have been issued or instituted by or against the State Development Bank.

FRE — 1034— TTP Aa et — 4-8- 2000-— 1,000.

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