(1) 4[Where a loan has been advanced by any society in accordance with the last preceding section for the growing of any agricultural produce, or has been advanced by any other society which is 5[a Co-operative Agriculture and Rural Multipurpose Development Bank] for any of the purposes enumerated in clause (a) of section 111, and if in either case any agricultural produce is tendered by the person who has taken any such loan] for sale at a collection centre under section 30A of the Maharashtra Agricultural Produce Marketing (Regulation) Act, 1963 (Mah. XX of 1964), on any day then the price agreed to be paid therefor shall be paid by the purchaser to the tenderer after deducting the dues of 6[the societies mentioned] aforesaid 7[* * * *] and the amount so deducted shall be paid to the Market Committee constituted under that Act as provided in that section. On making payment to the tenderer and the Market Committee in the manner provided in the aforementioned section 30A the purchaser shall be discharged of his liability to pay the price to the tenderer.
8[The amount of the deduction on account of loans advanced by societies shall 9[be made at such rate as may be notified by the State Government in this behalf by general or special order, so, however, that such rate shall] not in the aggregate exceed the following percentage of the total amount to be paid by the purchaser as the price, namely :—
(i) if the produce tendered for sale is sugarcane .. 100%
(ii) if the produce tendered for sale is 10[cotton] .. 60%
(iii) in any other case .. .. .. 40%.]
(2) The Market Committee on receiving the amount from the purchaser shall arrange to pay 11[to the societies concerned] the amount of dues due from the tenderer within a reasonable time to be prescribed for the purpose. If the Market Committee does not pay such dues within 8 days after the realisation of the cheque the Market Committee shall be liable to pay interest on such dues 12[to the societies concerned] at a rate prescribed in this behalf, such rate not being in excess of the maximum rate of interest fixed for unsecured loans under the 13Bombay Money-lenders Act, 1946 (Bom. XXXI of 1947).]
14[(3) Where any such purchaser is the State Government or an agent or officer appointed by that Government, or is a processing factory notified by the State Government in this behalf by general or special order or an agent or officer appointed by such factory, the purchaser shall pay the price to the 1 These words and figures were substituted for the words, figures and letter “Chapter X-A of the Bombay Land Revenue Code, 1879 or any corresponding law for the time being in force,” by Mah. 20 of 1986, s. 20(a).
2 These words were added by Mah. 20 of 1986, s. 20(b).
3 This section was inserted by Mah. 2 of 1972, s. 12.
4 This portion was substituted by Mah. 44 of 1973, s. 2(a)(i).
5 These words were substituted for the words “an Agriculture and Rural Development Bank” by Mah. 41 of 2005, s. 5(a).
6 These words were substituted for the words “the co-operative society mentioned” by Mah. 44 of 1973, s. 2(a)(ii).
7 The words “and to the extent hereinafter stated” were deleted by Mah. 50 of 1977, s. 3(a)(i).
8 This portion was substituted by Mah. 44 of 1973, s. 2(a)(iii).
9 These words were inserted by Mah. 50 of 1977, s. 3(a)(ii).
10 This word was substituted for the word “kapas” by Mah. 50 of 1977, s. 3(a)(iii).
11 These words were substituted for the words “to the society” by Mah. 44 of 1973, s. 2(b).
12 These words were substituted for the words “to the society” by Mah. 44 of 1973, s. 2(b).
13 Now see the Maharashtra Money-Lending (Regulation) Act, 2014.
14 Sub-section (3) was added by Mah. 44 of 1973, s. 2(c).
42 The Maharashtra Co-operative Societies Act, 1960 [1961 : Mah. XXIV tenderer after deducting the dues of the societies mentioned aforesaid and pay the amount so deducted on behalf of the tenderer to the concerned societies direct :
Provided that, where loans have been taken by the tenderer from more than one society, the purchaser may, keeping in view the extent of the dues, on account of financing of crop or seasonal finance or finance for other agricultural purposes, repayable during a period of not less than eighteen months and not more than five years, and the extent of the dues of any 1[Co-operative Agriculture and Rural Multi-purpose Development Bank], and subject to such directions (if any) as may be issued by the State Government from time to time, determine the proportion in which the amount of deduction made shall be apportioned between the different lending societies.]
2[Explanation.— For the purposes of this section, “purchaser” shall include any person who pays the purchase price of any agricultural produce tendered for sale, or by whom payment of such price is made, whether on his own account or as an agent or on behalf of another person.]