Section 73AB in The Bombay Land Revenue Code, 1879
73AB. Rights of occupant to mortgage his occupancy in favour of State Government and certain institution.
- Notwithstanding anything contained in section 73 or in sub-section (1) of section 73AA or in any condition lawfully annexed to the tenure, but subject to the provision contained in section 35, it shall be lawful for an occupant to mortgage, or create a charge on his interest, in his occupancy in favour of the State Government in consideration of loan advanced to him by the State Government under the Land Improvement Loans Act, 1883 (19 of 1883), the Agriculturists Loans Act, 1883 (12 of 1884), or the Bombay Non-Agriculturists' Loans Act, 1928 (Bombay Ill of 1928) as in force in the State of Gujarat or in favour of bank or a co-operative society, and without prejudice to any other remedy open to the State Government, bank or co-operative society, as the case may be, the event of his making default in the payment of such loan in accordance with the terms on which such loan was granted, it shall be lawful for the State Government, bank or a co-operative society, as the case may be, to cause his interest in the occupancy to be attached and sold and the proceeds to be applied in payment of such loan:Provided that if such occupant is a tribal his interest in the occupancy shall not be sold to a non-tribal without the previous sanction of the Collector.Explanation. - For the purposes of this section "bank" means-(i)the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955);(ii)any subsidiary bank as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1955);(iii)any corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970);(iv)the Agricultural Refinance and Development Corporation established under the Agricultural Refinance and Development Corporation Act, 1963 (10 of 1963).
