LAND DEVELOPMENT BANKS
93.
|
Procedure for Submission and
consideration of applications for loans from Land Development Banks:-
|
||
(1)
|
All applications for loans from a
Land Development Bank shall be
made in the form specified by the State Land Development Bank with the
approval of the Registrar. The form shall among other things contain a list
of documents which are required to be submitted for purposes of dealing with
the application.
|
||
(2)
|
Every Land
Development Bank shall keep sufficient stock of printed copies of the forms
of loan applications and shall supply them to the intending borrower on
payment of a fee of one rupee per form.
|
||
(3)
|
Every Land
Development Bank shall specify, from time to time, the name, designation and
address of the officer (hereinafter in this chapter referred to as "the
Receiving Officer"), who shall receive all loan applications from the
intending borrowers.
|
||
(4)
|
The
application together with copies of necessary documents, deposit equivalent to value of one share of the Bank and fees specified below,
shall be submitted by the applicant to the Receiving Officer :—
|
||
Loan amount
|
Fees to be paid Rs.
|
||
Up to Rs.
5,000
|
5
|
||
Rs. 5,001 to
Rs. 15,000
|
20
|
||
Rs. 15, 001
to Rs. 30,000
|
30
|
||
Rs. 30,001
to Rs. 50,000
|
50
|
||
Rs. 50,001
and above
|
100
|
||
(5)
|
On receipt of an application for loan, the Receiving Officer shall put
his initials on the application and mention his designation and the date of
receipt of the application.
|
||
(6)
|
After an application for loan has been received, the Receiving Officer
shall verify whether it contains all the necessary particulars and is
accompanied by the necessary documents. If any details are lacking, he shall
get the application completed by the applicant.
|
||
(7)
|
Each application shall be entered in the chronological order in the
register of application for loans from the Land Development Bank to be
maintained by the Receiving Officer and shall be dealt with in the same
order.
|
||
(8)
|
Immediately
after the application is entered in the register of applications for loans
from the Land Development Bank, the Receiving Officer shall forward it to the District Deputy Registrar of Co-operative Societies or the
Assistant Registrar of Co-operative
Societies or Co-operation and Industries Officer or the Block Development
Officer or the Assistant Block Development Officer within whose jurisdiction
the land in respect of which the application is made is situate (being the
person prescribed for the purposes of sub section (1) of Section 118 of the
Act, hereinafter in this chapter referred to as "the Public Enquiry
Officer"). The Public Enquiry Officer shall give at least eight clear
days public notice in Form “S” calling upon all persons
interested to present their objections to the loan, if any. The notice shall
also be given by beat of drum and shall be affixed at the chavdi of the
village or villages where the applicant resides and in the limits of which
the land or lands proposed to be improved or offered as security for the loan
is or are situated. A copy of the notice shall be exhibited in the head
office and relevant branch office, if any, of the Land Development Bank
concerned and in the office, if any, of the person giving the notice.
|
||
If any
persons interested fail to appear as stated as required by the aforesaid
notice, the questions at issue will be decided in their absence and such
persons will have no claim whatsoever against the property for which the loan
applied for will be sanctioned till such time as the loan together with
interest thereon or any other dues arising out of the loan are paid in full
by the loanee.
|
|||
(9)
|
The Public Enquiry Officer shall consider every objection submitted
under sub- section (1) of Section 118 in the manner laid down in that
section.
|
||
(10)
|
The Public Enquiry Officer shall then forward the application within
two days of their disposal to the Land Development Bank concerned. The Land
Development Bank may appoint an enquiry officer (hereinafter in this chapter
referred to as "the Enquiry Officer") to enquire into the applications.
The Enquiry Officer shall make inquiry by actually visiting the land in which
the improvement is proposed to be effected and the lands and other property
offered as security. He shall conduct his enquiry in accordance with the form
to be '[specified] by the State Land Development Bank, with the approval of
the Registrar.
|
||
In case the
Public Enquiry Officer is unable to forward the application within two days,
he shall make a report to the Registrar, stating there under the reasons
there for and he shall, thereafter act in accordance with such directions as
may be issued to him by the Registrar.
|
|||
(11)
|
The Enquiry
Officer may make such other enquiries as may be necessary and shall value the
lands according to such formulae as may be laid down by the State Land
Development Bank, with the approval of the Registrar from time to time,
estimate the repaying capacity of the applicant and examine the feasibility
and the utility of the proposed improvement. He shall then submit his report
stating what amount of loan may be granted to the applicant against what
security and for what purpose and the period within which it may be recovered
from him. The Enquiry Officer shall complete his inquiry within fifteen days
of the date of the receipt of the application by him.
|
||
If the
Enquiry Officer is unable to complete his enquiry within fifteen days, he
shall' make a report to the Registrar stating therein the reasons there for
and he shall thereafter act in accordance with such directions as may be
issued to him by the Registrar.
|
|||
(12)
|
After completion of the enquiry,
the application together with his report shall be submitted by the Enquiry
Officer to the Land Development Bank together with the following certificates
:—
|
||
(a)
|
Certificate regarding outstanding Government dues;
|
||
(b)
|
Any other relevant certificate.
|
||
(13)
|
On receipt of the report of the Enquiry Officer under sub-rule (12),
the Land Development Bank shall satisfy itself that the inquiry has been
properly conducted. If there are any deficiencies, the Bank shall get them
completed immediately.
|
||
(14)
|
The Land Development Bank may then undertake such further scrutiny as
may be necessary and pass final orders within 30 days. Decision shall be
communicated to the applicant within 7 days thereafter. In case the final
orders are not passed within 30 days, the Bank shall make a report to the
Registrar stating therein the reasons there for and shall thereafter act in
accordance with such directions as may be issued to it by the Registrar.
|
||
(15)
|
All the applications received by the Land Development Bank shall be
disposed of by the Bank within a maximum period of four months. If the Bank
is unable to dispose of an application for loan within the period of four
months, it shall make a report to the Registrar stating therein the reasons
there for and the Bank shall thereafter act in accordance with such directions
as may be issued to it by the Registrar.
|
||
(16)
|
In the case of rejection of applications for loans, the reasons there
for shall be communicated by the Bank to the applicant. When the loan has
been sanctioned, the Bank shall lay down the terms and conditions regarding
grant of the loan, regarding payment of installments, submission of report on
the progress of improvement of land and release of subsequent installments.
The applicant shall be asked by the Land Development Bank to remain present
at the head office or branch office of the Bank on a date to be fixed for
execution of the mortgage deed and for receiving loan or the first
installment thereof. Such date shall not ordinarily be later than 15 days
from the date of communication of sanction of loan to the applicant.
|
||
(17)
|
The applicant, while receiving the amount of the loan or the first
installment of the loan, shall purchase shares of the Bank to such extent as
may be required under the by-laws of the Bank, The Land Development Bank
shall issue a receipt to the applicant giving full particulars of the amounts
paid by him from time to time.
|
||
(18)
|
Failure to comply .with any time-limits specified in this rule shall
not in any manner affect the validity of the sanction of the loans by a Land
Development Bank or by the State Land Development Bank.
|
||
94.
|
Registration
of copies of instruments under Section 122:-
|
||
Copies of instruments referred to in Section 122, duly certified by
the Manager of the Land Development Bank, shall be sent by the Land
Development Bank to the Registering Officer concerned within a period of
three months from the date of execution of the instruments, by registered
post or by hand delivery.
|
|||
95.
|
Authority
to Land Development Bank to exercise power under Section 133(1):-
|
||
The authorisation for the purposes of clause (a) of the proviso to subsection
(1) of Section 133 shall be granted to the Land Development Bank by the
Registrar after hearing the objections, if any, of the mortgagor or
mortgagors concerned.
|
|||
96.
|
Appointment
of Receiver and his powers under Section 133:-
|
||
(1)
|
The State Land Development Bank may, on the application of a Land
Development Bank and under circumstances in which the power of sale conferred
by Section 133 can be exercised, appoint any person in writing to be a
Receiver of the produce and income of the mortgaged property or any part
thereof and such Receiver shall be entitled either to take possession of the
property or collect its produce and income, as the case may be, to retain out
of any money realised by him, his expenses of management including his
remuneration, if any, as fixed by the State Land Development Bank and to
apply the balance in accordance with the provisions of sub-section (8) of
Section 69-A of the Transfer of Property Act, 1882.
|
||
(2)
|
A Receiver appointed under sub-rule (1) may, for sufficient cause and
on application made by the mortgagor, be removed by the State Land
Development Bank.
|
||
(3)
|
A vacancy in the office of the Receiver may be filled up by the State
Land Development Bank.
|
||
(4)
|
Nothing in this rule shall empower the State Land Development Bank to
appoint a Receiver where the mortgaged property is already in the possession
of a
Receiver appointed by a civil court.
|
||
97.
|
Appointment, qualifications and powers and functions of
a Sale Officer under Section 133:-
|
||
A Land Development Bank may, from time to time, by a resolution of its
committee, appoint any of its officers or any other person as a Sale Officer,
with the approval of the Registrar, for the purpose of effecting sale of
mortgaged property under Section 133. Such Sale Officer shall exercise the
same powers and functions as are conferred upon a Recovery Officer and a Sale
Officer under these rules.
|
|||
98.
|
Procedure for distraint and sale of the produce of the
mortgaged land and sale of mortgaged property:-
|
||
The procedure laid down in Rule 107 shall mutatis mutandis apply for
the distraint and sale of the produce of the mortgaged land and the sale of
mortgaged property under Sections 132 and 133:
Provided that, in the case of sale of mortgaged property, the notice
of demand for the payment of the mortgage money or part thereof, as the case
may be, as also the notice for the sale of the mortgaged property in the
event of the payment not being made within the time allowed, shall be served
upon the mortgagor or each of the mortgagors and also upon the following
persons, namely :—
|
|||
(i)
|
any person who has any interest in, or charge upon, the property mortgaged,
or in or upon the right to redeem the same, so far as is known to the Bank;
|
||
(ii)
|
any surety for the payment of the mortgaged debt or any part thereof; and
|
||
(iii)
|
any creditor of the mortgagor who has in a suit for administration of
his estate obtained decree for sale of mortgaged property.
|
||
The time allowed for payment of the mortgage money or part thereof in
the demand notice referred to above, shall be not less than three months
after the service of the notice.
|
|||
99.
|
Circumstances under which the State Land Development
Bank or the Trustee may take action under Section 133(2):-
|
||
(1)
|
If a Land Development Bank fails to take action against a defaulter
under Sections 129 or 132 or sub-section (1) of Section 133, the State Land
Development Bank may call upon the former to take necessary action within a
period of seven days and report compliance. If no report of compliance is
received, the State Land Development Bank may itself take necessary action as
indicated in the aforesaid section and sub-section.
|
||
(2)
|
Where necessary action is not taken against the defaulter by the Land Development
Bank or by the State Land Development Bank, the Trustee may call upon them to
take necessary action within seven days and report compliance. If no such
report of compliance is received, the Trustee may himself take the necessary action.
|
||
100.
|
Submission of report for confirmation of sale under
Section 134:-
|
||
(1)
|
When the sale of the mortgaged property has been affected by a Land Development
Bank under Section 133 and the purchase amount has been received from the
purchaser, the Bank shall submit a report of the sale immediately to the State
Land Development Bank and the Registrar as required by sub-section (1) of Section
134.
|
||
(2)
|
When the sale of the mortgaged property has been effected by the State
Land Development Bank or the Trustee under Section 133 and the purchase
amount has been received from the purchaser, the State Land Development Bank
or the Trustee, as the case may be, shall submit a report of sale immediately
to the Registrar as required under subsection (2) of Section 134.
|
||
(3)
|
The report referred to in sub-rules (1) and (2) shall contain, amongst
other details, the following specific particulars :-
|
||
(a)
|
brief account of the circumstances which rendered the sale necessary;
|
||
(b)
|
full details showing how the provisions of clauses (a), (b), (i) to
(iv) and (c) of the proviso to sub-section (1) of Section 133 have been
complied with;
|
||
(c)
|
full details showing how the procedure laid down in Rule 107 for
holding the sale of immovable property has been followed;
|
||
(d)
|
name of the Sale Officer;
|
||
(e)
|
place of sale;
|
||
(f)
|
date of sale;
|
||
(g)
|
description of property sold;
|
||
(h)
|
name of purchaser and his address;
|
||
(i)
|
value realised;
|
||
(j)
|
cost of sale; and
|
||
(k)
|
date of receipt of purchase money from the purchaser.
|
||
(4)
|
The State Land Development Bank or the Registrar may call for any clarification
deemed necessary from the Land Development Bank and satisfy it self or him self
that the sale has properly been conducted and the Land Development Bank shall
furnish the same forthwith. Similarly, the Registrar may call for any
clarification from the State Land Development Bank or the Trustee for the
same purpose and such clarification shall be furnished forthwith by the State
Land Development Bank or the Trustee as the case may be.
|
||
101.
|
Certificate of purchase:-
|
||
The certificate to be granted by a Land Development Bank under
sub-section (1) of Section 136 shall be in Form T.
|
|||
102.
|
Sale of immovable property purchase by a Land
Development Bank:-
|
||
(1)
|
The Land Development Bank or the State Land Development Bank, which
has purchased any immovable property sold under Chapter XI of the Act, shall,
unless otherwise directed by the Trustee, use its best endeavor to sell the
property as early as possible to the best advantage of the Bank. The sale
shall be affected by public auction within a period of six months from the
date of purchase or within such further period as may be permitted by the
Trustee.
|
||
(2)
|
The date and the place of such public auction shall previously be
notified not less than thirty days by —
|
||
(a)
|
advertising the sale of property with full details in one or more local
newspapers;
|
||
(b)
|
proclamation of sale by beat of drum in the village where the property
is situated;
|
||
(c)
|
publication of sale notice at—
|
||
(i)
|
the village chavdi;
|
||
(ii)
|
the office of the Mamlatdar, Tahsildar or Mahalkari concerned;
|
||
(iii)
|
the office of the Land Development Bank;
|
||
(iv)
|
the principal office of the Deputy Registrar in the District.
|
||
The sale shall be subject to confirmation by the Registrar.
|
|||
103.
|
Certain provisions of Rule 107 to apply to sale of
immovable property under Chapter XI of the Act:-
|
||
(1)
|
The provisions of clauses (e), (f), (g), (h), (i), (j) and (k) of sub-rule (11) and of sub-rules (12), (13) and
(14) of Rule 107 shall mutatis mutandis apply to the sale of immovable
property under Chapter XI of the Act.
|
||
(2)
|
The expenses incidental to such sale or attempted sale shall be
calculated in accordance with the scale laid down in that behalf by the
Registrar, from time to time.
|
||
.jpg)
.jpg)
.png)
.png)