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[Cites 0, Cited by 0] [Section 30] [Entire Act]

State of Gujarat - Subsection

Section 30(2) in The Gujarat Agricultural Lands Ceiling Act, 1960

(2)Notwithstanding anything contained in sub-section (1), it shall be lawful for a person to mortgage or create a charge on his interest in the land allotted to him under Section 29 in favour of the State Government in consideration of a loan advanced to him by the State Government under the Land Improvement Loans Act, 1883 (XIX of 1883), the Agriculturists' Loans Act, 1884 (XXII of 1884) or the Bombay Non-Agriculturists' Loans Act, 1928 (Bombay III of 1928), or in favour of a co-operative society [or in favour of a land development bank or the State Bank of India constituted under the State Bank of India Act, 1955 (Act 23 of 1955) or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (Act 38 of 1959), or a bank specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act 5 of 1970)] [These words, figures and brackets were inserted by Gujarat 2 of 1974, Section 25 (i).] in consideration of a loan advanced to him by such co-operative society [or by any such bank] [These words were inserted, by Gujarat 2 of 1974, Section 25 (ii).], and without prejudice to any other remedy open to the [State Government, the co-operative society, or as the case may be, the bank] [These words were substituted for the words 'State Government or the Co-operative Society as the case may be' by Gujarat 2 of 1974, Section 25 (iii).], in the event of his making default in payment of such loan in accordance with the terms on which such loan was granted, it shall be lawful for the [State Government, the co-operative society, or as the case may be, the bank] [These words were substituted for the words 'State Government or the Co-operative Society as the case may be' by Gujarat 2 of 1974, Section 25 (iii).], to cause his interest in the land to be attached and sold and the proceeds to be applied in payment of such loan.