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Section 4: Application by the bank for distraint

The Meghalaya Credit Operation and Miscellaneous Provisions Rules, 1979.State Rules of Meghalaya · 1976

(1) On the agriculturist failing to make the due payment to the bank within the period specified in the notice under Rule 3, the bank may apply to the specified officer within whose jurisdiction the agriculturist resides or holds such property for distraint and sale of the said property.

(2) Every application under sub-rule (1) shall be in Form “A”.

(3) A copy of the document creating the charge duly certified by an officer of the bank authorised by it in this behalf shall be filed along with the application referred to in sub-rule (1).

1. Published in the Meghalaya Gazette, Part V-A, dated 10-5-1979, page 121 2 | T H E M E G H A L A Y A C R E D I T O P E R A T I O N A N D M I S C E L L A N E O U S P R O V I S I O N S R U L E S , 1 9 7 9 .

Where this provision sits

ActThe Meghalaya Credit Operation and Miscellaneous Provisions Rules, 1979.
Section4
Marginal noteApplication by the bank for distraint
JurisdictionState of Meghalaya
StatusIn force as published by the source

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