Section 162 in Tamil Nadu Co-operative Societies Rules, 1988
162. Procedure for sale of mortgaged property under section 119.
(1)Every Primary Agriculture and Rural Development Bank shall make an application to the Registrar in Form No. 47 signed by a person authorised by the board of the Primary Agriculture and Rural Development Bank.(2)No application shall be made unless and until,-(a)a notice in writing requiring utilisation of loan or part thereof, or the payment of such mortgage money or part thereof has been served upon-(i)the mortgagor or each of the mortgagors;(ii)any person who has any interest in or charge upon the property mortgaged or in or upon the right to redeem the same;(iii)any surety for the payment of the mortgaged debt or any part thereof; and(iv)any creditor of the mortgagor who has in a suit for the administration of his estate obtained a decree for sale of the mortgaged property; and(b)default has been made in the utilisation of loan or part thereof or in the payment of such mortgage money or part thereof for more than three months after such service.(3)The procedure laid down in rules 116,117,119 and 126 to 137 shall apply to bringing the mortgaged property to sale under section 119, as if the Primary Agriculture and Rural Development Bank where a decree holder and the mortgagor, a judgement-debtor subject to the following modifications, namely:-(a)where the mortgaged property sold is in the possession of the mortgagor or of some person on his behalf of or some person claiming under a title, other than a lease and a certificate of sale in respect thereof has been granted under sub-rule (3) of rule 129, the Court shall, on the application of the purchaser, order that such purchaser or any person whom he may appoint to receive delivery on his behalf, shall be put in possession of the property;(b)where the mortgaged property sold, is in the possession of a tenant or other person entitled to occupy the same and certificate of sale in respect thereof has been granted under sub-rule (3) of rule 129, the Court shall, on the application of the purchaser and after notice to such tenant or other person, by order direct the affixing of a copy of the certificate of sale in some conspicuous place on the property and the proclaiming by beat of drums or other customary' mode at some convenient place in the locality that the interest of the mortgagor has been transferred to the purchaser; and(c)the provisions of rules 97 to 103 of Order XXI of the First Schedule to the Code of Civil Procedure, 1908 (Central Act V of 1908) shall apply mutatis mutandis to cases referred to above.Explanation. - For the purpose of this rule "Court" means the Civil Court within the limits of whose jurisdiction the property is situated.
