Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979 36Chapter VII · Sale of Mortgaged Property

Section 36 · Recovery of loans on certificate by Registrar

(1)

Without prejudice to any other remedy available to an [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide H.P. Act No 16 of 1987 w.e.f. 16-11-1987.] for recoveries of arrears of any sum advanced by it to any of its members and on its furnishing a statement of accounts in respect of the arrears, the Registrar may, after making such enquiries as he deems fit, grant a certificate for the recovery of the amount stated therein to be due as arrears.

(2)

A certificate by the Registrar under sub-section (1) shall be final and conclusive as to the arrear due. The arrears stated to be due therein shall be recoverable according to the law for the time being in force for the recovery of arrears of land revenue.

(3)

It shall be lawful for the Collector to take any precautionary measures provided in the law for the time being in force, for the recovery of arrears to land revenue until the arrears due to the [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide H.P. Act No 16 of 1987 w.e.f. 16-11-1987.] together with interest and any incidental charges incurred in the recovery of such arrears are paid or security of such arrears is furnished to the satisfaction of the Registrar.

(4)

It shall be competent for the Registrar or a person authorised by him in this behalf to direct conditional attachment of the property of the [person who has created gehan or executed the mortgage or hypothecation] [Substituted for 'mortgagor' vide H.P. Act No 16 of 1987 w.e.f. 16-11-1987.] until the arrears due to the [Agriculture and Rural Development Bank] [Substituted for 'Land Development Bank' vide H.P. Act No 16 of 1987 w.e.f. 16-11-1987.] together with interest and any incidental charges incurred in recovery of such arrears, are paid or security for payment of such arrears, is furnished to the satisfaction of the Registrar and the provisions of section 74 of the Himachal Pradesh Co-operative Societies Act, 1968 (3 of 1969), shall apply mutatis mutandis to conditional attachment of any property made or to be made under this section.

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