(1) As soon as may be after the date specified in sub-section (1) of section 46, the Tribunal shall publish or cause to be published a public notice in the prescribed form in each village within its jurisdiction calling upon-
(a) all tenants to whom the ownership of lands stands transferred under section 46,
(b) all landlords of such lands, and
(c) all other persons interested therein,
to appear before it on the date specified in the notice. The Tribunal shall also issue a notice individually to each such tenant, landlord and also, as far as practicable, other persons calling upon each of them to appear before it on the date specified in the public notice.
(2) The Tribunal shall thereupon hold an inquiry and determine in respect of each tenant-
(a) the land which stands transferred to and vests in him under section 46 and
(b) the purchase price thereof, in accordance with section 47:
Provided that where the purchase price in accordance with the provisions of section 47 is mutually agreed upon by the landlord and the tenant, the Tribunal after satisfying itself in such manner as may be prescribed that the tenant’s consent to the agreement is voluntary may make an order determining the purchase price and providing for its payment in accordance with such agreement.