(1) When an application for a loan is made for any of the purposes mentioned in section 111, the public notice shall be given of the application in such manner as may be prescribed calling upon all persons interested to present their objections to the loan, if any, in person, at a, time and place fixed therein. The State Government may: from time to time prescribe the persons by whom such public notice shall be given and the manner in Which the objections shall be heard and disposed of.
(2) The prescribed officer shall consider every objection submitted under sub-section (1) and make an order in writing either upholding 01‘ overruling it :
Provided that, When the question raieed by an objection is in the opinion of the officer, one of such a nature that it cannot be satisfactorily decided except by a, Civil Court, he shall peS’tpone the proceedings 0n the application until the questionrhas been SO decided.
(8) A notice under sub-section (1), published in the manner prescribed shell, for the purpose of this Act, be deemed to be proper notice to all persons having or claiming interest in the land to be improved, or offered as security for the loan.
(4) Subject to such rules as may be pregeribed, the Land Development Banks shall consider such applications after due enquiry for the purpose of making leans under this chapter.
119. A written order by the Land Development Bank or persons or Board authorised under the bye-iaws of the Bank to make loans for all or any of the purposes specified in section 111, granting a loan to or with the consent of a. person mentioned therein, for the purpose of carrying out the work Specified therein, for the benefit of the land or for the productive purpose specified therein, shall for the purPOSe of this Act, be conclusive of the following matters, that is to Say :——
(a) that the work described or the purpose for which the loan is granted, is an improvement or productive purpose, as the case may be, within the meaning of section 111.
(b) that the person had at the date of the order a right to make such an improvement, or incur expenditure for productive purpose, as the case may be ; and
(c) that the improvement is one benefiting the land specified and productive purpose concerns the land offered in security, or any part thereof as may be relevant.