(1) Notwithstanding anything contained in this Act or in any other law for the time being in force, if any member owing any land or other immovable property or having interest in any land or otherwise being in lawful occupation of any land (including a share cropper), who has not borrowed money under section 52, makes an application to a co-operative credit society for loan, he shall by a declaration in the prescribed form create a special charge to be called Gehan in favour of the co-operative credit society on such land or other immovable property or his interest Loan by Gehan.
345 The West Bengal Co-operative Societies Act, 1983.
[West Ben. Act (Chapter VI.—Duties and obligations of co-operative societies.—Sections 54, 55.)
therein to secure payment with interest of the loan to be granted to him for the present and in future by the said co-operative credit society on such application and any other loan that may be granted to him by it from time to time so, however, that the total amount of all loans taken together does not exceed the maximum limit fixed by it and for payment of Merest due on all such loans and expressly reserving in favour of the co-operative credit society a right of sale without intervention of court in case of default. The Gehan shall take effect from the date of its execution.
(2) Notwithstanding anything contained in the Registration Act, t6 of 1908.
1908, it shall be necessary to register a Gehan:
Provided that when a Gehan has been executed in favour of a primary co-operative credit society for repayment of any loan, the manager of the primary co-operative credit society or any officer deputed by the State Government or the Registrar under section 28 or the financing bank which advances the loan to the primary co-operative credit society shall send a copy of the Gehan to the registering officer having jurisdiction over the loan or part thereof or other property and the registering officer shall file such copy in his book No. 1 prescribed under section 51 of the Registration Act, 1908.
(3) An officer deputed by the State Government or the Registrar under section 28 shall administer the oath, where necessary, for affirming or swearing the declaration under sub-section (1).
(4) A Gehan shall be deemed to have created an interest in the property to which the declaration relates and shall constitute notice to any one dealing with such property.
(5) The provisions of clauses (b), (c) and (d) of section 52 shall apply to a Gehan and the provisions of sections 110, 113 and 114 shall apply mutatis mutandis to a Gehan.
Appointment of sale officer, Utilisation of the sale proceed.
54. The Registrar shall appoint a sale officer for conducting the sale under section 53. The sale officer shall conduct the sale in the prescribed manner.
55. Out of the sale proceeds of a sale under section 54, the land revenue or any sum recoverable as a public demand shall be paid first and then any amount due to the land development bank on account of any outstanding loan from that bank and the amount payable to the cooperative society together with the cost incurred for effecting the sale shall be paid. Thereafter the dues to the creditor shall be paid and the residue, if any, shall be paid to the debtor.
346 The West Bengal Co-operative Societies Act, 1983.
XLV of 1983.]
(Chapter VI.—Duties and obligations of co-operative societies.—Sections 56-58.)