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Section 138

The Manipur Co-Operative Societies Act, 1976State Act of Manipur · Act 14 of 1976

(1) Any ameunt due to a. Land Development Bank (inclua’iEmg ease of recovery thereof) shall on an application by it in this behalf be recoverable by the Revenue Officer, or any officer Specially autherieeti by the Revenue Office: in this behalf; in all or any of the following modes namely :-~

(a) from the borrower as if they were arrears of land revenue due by him ;

(h) out of the land for the benefit of Which the loan has been granted as if they were arrears of land revenue due 1n respect of that land ;

(c) from a. surety (if any) as if they were arrears of land revenue due by him ;

((3) out of the property comprised in the collateral security (if any) according to the procedure for the realisation of land revenue by the sale of immovable property other than the land on which the revenue is due.

.139. At any sale of movable or immovable property, held under the pmviaions e‘f this ChapterS no officer or emyloyee of a, Land De= who hem Bank 01‘ the State Land Development Bank, except on behalf of the Bank of whiah he is an officer or an employee, and no pemoa haying any duty to perform in connection with such sale, shall ei‘o’aar direei‘iy or indirectly bid for or acquire or attempt to ecquire any interest in such property.

140. Nothing contained in any law for the time being in force in any pert. of the State shall apply to any alienation in favour of the Land DeVelopment Bank.

Where this provision sits

ActThe Manipur Co-Operative Societies Act, 1976
Section138
JurisdictionState of Manipur
StatusIn force as published by the source

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