(1) Where any amount of financial assistance is granted by a bank to an agriculturist and the agriculturist fails to pay the amount together with interest on the due date them without prejudice to the provisions of sections 10-B and 11, the local principal officer of the bank by whatever name called may forward to the Collector a certificate in the manner prescribed, specifying the amount due from the agriculturist.
(2) The certificate referred to in sub-section (1) may be forwarded to the Collector within three years from the date when the amount specified in the Certificate fell due.
(3) On receipt of the certificate, the Collector shall proceed to recover from the agriculturist, the amount specified therein together with expenses of recovery, as arrears of land revenue, and the amount due to the bank shall be paid after deducting the expenses of recovery and satisfying any Government dues or other prior charges if any.
Explanation—For the purposes of this section, the expression ‘Collector’ means the Collector of the district in which the agriculturist ordinarily resides or carries on the activities referred to in clause (a) of section 2 or where any movable or immovable property of the agriculturist is situate, and includes any officer, authorized by him in that behalf3