(1) Save as otherwise provided in this Act no person who is a party to any proceedings or award under this Act and who is indebted to any person authorized to advance loans under section 59 shall mortgage, hypothecate or sell his property without the previous sanction of such person until such loan has been repaid in full.
(2) Any person who mortgages, hypothecates or sells any property in contravention of sub-section (1) shall, on conviction, be punishable with imprisonment for a term which may extend to six months or with fine which may extend to Rs. 500 or with both.
(3) No Criminal Court shall take cognizance of any offence under this section except on the complaint in writing of the Board or Court before which the proceedings were held or which made the award.
Bar to application in insolvency in other Courts.
Appeals barred.
Period of proceedings before Board under this Act to be excluded.
Alienation of property before repayment of loan prohibited.
[Act No. XII of 1952] 33