(1) Where the mortgaged property sold is in Delivery of the occupancy of the mortgagor or of some person on property to his behalf or of some person claiming under a title~'"'"a&Cr' other than a lease for a period not exceeding five years \ i?aoperatl~e Land dl934:T.N. A c t X Development Banks created by the mortgagor subsequent to the mortgage in favour of the '[primary land development bank], and a certificate in respect thereof has been granted under section 17, th t Court shall, on the application of the purchaser, ordcr dtlivery to be made by puttine such purchaser or any person whom he may appzint to receive delivery on his behalf, in possession of the property.
( 2 ) Where the property sold is in the occupancy of a tcnlint or oiher person entitled to oCcupy the same and a ccrr~ficare in respect thereof has been granted under sccrlon 17, the Court shall. on the application of the purchaser, and after notice to such tenant or other p a o n , oldc; delivery to be made by affixing a copy of the certificate of salt in some conspicuou5 place 011 the property ancl proclairning to the occupant by beat of drum or othcr customarj mods at sowe con~enisnt plac;: illat the interest of thc mortgagor has been tr;inyfcrrcd to the plrclaser.
( 2 ) 111 regard to the cases dealt with in subsections ( I ) and ("). the prov~sions ot' rules 97 to 103 of Order SXI of the lir\t schedule to the Code of Civil 1 Procedurt.. 1908. cl1:111 ~nr~ftrti\ n~vtmirii~ and so far as may bc. , ~ p p l j .
E.~plrrritrrion.-111 this sectioti, " Cni~rt " shall have the \rime rneantlli: as in section 1 A.
s This axpmrioa was substituted for the expression " ~ e n l r d i Mortgage Bank" by ibid.
,193: T.N. Act XI Co-operative Land 439 Developnzent Banks i 1 .
1 20. (1) The Board may, on the application of aAwiot / '[primary land development bank] and under -t of circumstances in which the power of sale conferred rmiver and ' by section 13 may be exercised, appoint in writing a his powas. , receiver of the produce and income of the mortgaged property or any part thereof and such receiver shall I I be entitled either to take possession of the property I C l or collect its produce and income, as the case may be, to retain out of any money realized by him, his expen- I ses of management including his remuneration, if any, as fixed by tlte Board, and to apply the balance in accordance with the provisjons of sub-section (8) Central of section 69-A of the Transfer of Property Act, 1882, Act IV of 1882. ( 2 ) A receiver appointed under sub-section ( I ) may, for sufficient cause and on application made by the mortgagor, be removed by the Board. i
(3) A vacancy in the office of the receiver may be filled up by thc Board.
(4) Nothing in this section shall empower the Board to appoint a rccciver where the mortgaged propcltj is already in the possescion of a receive:
appointcct by a Civil Court.
21. \Vllell a s:i\c has bee11 made in professed exerci\t. of a power of snlc L L I \ ~ C ~ sect ion 1 3 and has Title of purchaser beell conlirmcd under sub-section (3) of section 1 5, to ba the t ~ l \ r : the purcltiirer shall not be impeachable on irnpeachd the gsoiinc\ tlmt no case had arisen to authorize the '$Edor sale 01. \hat due nc3tice was not given or that tlre power imegula~ty, Wac, ntlacr~isc improperly or irregularly exercised but etc.
ally person damni lied by an unauthorized or improper I or il-rcylar exercise of tltc power shall have his in tiamages nsaillst the! l[primary land clev:lopmm"thnnb]. I
22. The Registrar may appoint sale oficers for I the pl l r roreofarnd~ct i~~g sales under tlrischaptcr. ~ ~ ~ ~ & a j d __- . -.-- - - 1 This expression was Subqtit~tcd for tho expression "mortofflc)r 1 gagebank* by s e c t i ~ n 4 of thtr Tamil Nadu Co-operative Land ~ ~ ~ t g ~ g , , Banks (Amendment) Act, 1969 (Tamil Nadu Act 14 of 1969). I 1 . I 1 $*i eo-operative t m d [i931: T.N. Act X Development Banks purposes of such recovery the Registrar shall have the powers of a Collector under the '[Tamil NadulRevenue Recovery Act, 1864 (*[Tamil Nadu] Act I1 of 1864).
(2) Where any sun1 due to any "primary land development bank1 or the '[State Land Development Bank] is recoverable from any debtor and the immovable property of such debtor is brought to sale under the provisions of the '[Tamil Nadu] Revenue Recovery Act, 1864 ('[Tamil Nadu] Act I1 of 1864) and the '[primary land development bank] or the "State Land Development Bank] is the purchaser at such sale, the psovisiolls of section 36 of the said Act shall apply thereto as if for the third clause thereof the following clause was sub\tituted, namely :- " Tliirt1.-The sum due to the purchaser shall be set off, in whole or in part, asainst the purchase money & 'tnd the reniai~~cler. if any, of the purchase money shall!
be paid to thc Collector or other officer empowered I)y the Collectc\r in that behalf within thirty days of the date o f sale."] - - - - -- - - .- - - - 1 This section wa? inserted by ~ection 2 of the Tamil Nadu Co- - operative Land Mortgage Bank\ (Amendment) Act, 1968 (Tamil Nadu Act 17 of 1068).
2 This cxpres4on was substituted for the expression " mortgage bank " by scclion 4 of theTamil Nadu Co-operative Land Mortgage Rnnks (Amendment) Act, 1969 (T.ctnil Nadu Act 14 of 1969).
8 This axpres~ion was substituted for the expre5sion " Central Mortgage Bank " by ihid.
T h e words ware substituted for the word " Madras" by the Tan~ilNadu Adaptation of Lawc Order, 1969, as amendod by tk.
Tamil Nadu Adaptation of Laws (Second Amendment) Order, 1969, w\iichramr into force on tho 14th January 1969.
A 441 i Development Banks I /
23. The '[State Government] may make rules not Power of , lriconsistent with this Chapter- State Government to make (i) for the due proclamation and corlduct of therules.
sale ;
(ii) for the recovery of the expenses of proclamation and sale;
(iii) for the deposit of the purchase money;
(iv) for the resale of the property, if the purchase money is not deposited ; and
(v) generally for $arrying out the provision. ot' this Chapter.
CHAPTER V.
Jfiscellaneous.
¶[23-A. The mortgages executed in favour of, and Mortgages all other assets transfirred to, a ' [primary land in favour of development bank] by the members thereof shall, r[pr,,,ary with effect from the date of such execution or transfer, land devebe deemed to have been transferred by such ~apn"~~''~,,., 'iprimary land development bank] to the 'I State to stand Land Development Bank].
*[State vested in Land Development Bank].
A.
1 The words " Provincia!~ovenunent " were substituted for the words " Local Government by the Adaptation Order of 1937 and theword "State" was substituted for " Provincial " by tho Adaptation Order of 1950.
This section was inserted by section 4 of the Madras Co-operative Land Mortgage Banks (Amendment) Act, 1950 (Madras Act TX of 1950). - J m s oxpreesioa was substituted for the axpression mortgage bank" by section 4 of the Tamil Nadu Co-operative Land Mortgage Banks (Amendment) Act, 1969 Pamil Nadu Act 14 of 1969).
4 This expryion was substituted for the axpression " Central Mertp~o Bank by ibid.
Co-operatfie Land [I934 ; T.N.' Act X Developinent Banks Powers of 24. Where any property mortgaged to a '[primary '[primav ' land development bank] is wholly or- partially des- land d e v s Iopment bank] troyed or the security is rendered insufficient and in case the mortgagor, having been given a reasonable opporthe mortgaged tunity by the committee of the '[prin~ary land developproperty is ment bank], of providing further security enough to whollyor render the whole security sufficient or of repaying partially destroyed such portion of the loan as may be determined by or the ths committee, has failed to provide such security security is or to repay such portion of the loan, the whole of the rendered insufficient. loan shall be deemed to fall due at once and the cornmittee sl~all be entitled to take action against the n.~ortgagor under section 9 or section 13 for the recovery thereof.
Explanation.--A security is insufficient within the meaning of thi.; section unless the value of the mortgaged property exceeds the amount for the time being due o n the mortgage by such proportion as may be specified in the by-laws of the '[primary land development bank].