Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979 37अध्याय VII · Sale of Mortgaged Property

धारा 37 · Collector to make recoveries during a certain period

(1)

During such period as the State Government may by general or special order notify in the Official Gazette, it shall be competent For the Collector, on application being made to him in that behalf by an [Agriculture and Rural Development Bank] [Substituted for 'Land Development' vide H.P. Act No. 16 of 1987.], to recover all sums due to the [Agriculture and Rural Development Bank] [Substituted for the words 'mortgages executed' vide H.P. Act No. 16 of 1987.] (including tho cost of such recovery).

(2)

Any amount due to a [Agriculture and Rural Development Bank] [Substituted for 'Land Development' vide H.P. Act No. 16 of 1987.] shall he recoverable by the Collector or any officer specially authorised by the Collector in this behalf, in all or any of the following modes, namely:-

(a)

from the borrower-as if they were arrears of land revenue due by him;

(b)

out of the land for the benefit of which the loan has been granted- as if they were arrears of land revenue due in respect of that land;

(c)

from a surety (if any) as if they were arrears of land revenue due by him;

(d)

out of the property comprised in the collateral security (if any) according to the procedure for the realisation of land revenue by the sale of immovable property other than the land on which the revenue is due.

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