(1) If any person is aggrieved by any of the provisions of this Act as extinguishing or modifying any of his rights in land and if such person proves that such extinguishment or modification amounts to the transference to public ownership of land or any right in or over such land, such person may apply to the Collector for compensation.
(2) Such application shall be made in a prescribed form and shall be made within six months from the date on which this Act comes into force.
(3) The Collector shall, after holding a formal inquiry in the manner provided by the Bombay Land Revenue Code, 1879 (Bom. V of 1879), award such compensation as he deems reasonable, and adequate. In deciding the amount of the compensation the Collector shall be guided by the provisions of sub-section (1) of sections 23 and 24 of the Land Acquisition Act, 1894 (I of 1894). Subject to the provisions of sub-section (4), the award of the Collector shall be final.
(4) Any person aggrieved by the award of the Collector may appeal [to the Maharashtra Revenue Tribunal constituted under the Bombay Revenue Tribunal Act, 1957 (Bom. XXXI of 1958)].
(5) In deciding appeals under sub-section (4) the [Maharashtra Revenue Tribunal] shall exercise all the powers which a Court has and follow the same procedure which a Court follows in deciding appeals from the decree or order of an original Court under the Code of Civil Procedure, 1908 (V of 1908).