(1) An occupancy tenant shall be liable to pay in the prescribed manner and within the prescribed period the commuted value of the khot's dues which were payable by him immediately before the coming into force of this Act in respect of the land held by him. Such commuted value shall be estimated and paid in the manner specified in sub-sections (2) and (3).
(2) The Mamlatdar shall give notice in the prescribed manner to the persons referred to in sub-section (1) and the khot, and after holding a formal inquiry shall determine the amount of the commuted value of the khot's dues :
Provided that, the amount of commuted value shall not exceed five times the amount of the khot's dues, if payable in cash or five times the value of such dues, if payable in kind, subject to the maximum of a sum equal to ten times the survey assessment of the land, or if the khot's dues are payable in crop-share, five times the commuted value of such dues reckoned in the manner provided for in sub-section (3).
(3) In estimating the commuted value of the khot's dues payable in crop-share, a third crop-share shall be held as equivalent to two multiples of survey assessment fixed on the land and any other crop share as a proportional multiple of such assessment :
Provided that, the commuted value of the produce payable on any warkas land actually used for the purpose of rab manure in connection with rice cultivation shall be held as equivalent to one survey assessment of such land.
Explanation.- The commuted value shall be deemed to include compensation for the extinguishment of any rights of a khot in relation to occupancy tenants under section 9 of the Khoti Settlement Act, 1880 (Bom. I of 1880), as applied to the merged territories of Janjira and Bhor or any other provisions thereof.