Section 19 in The Pepsu Townships Development Board Act, 1954
19. Mode of recovery of loan.
- If the amount of any loan or any instalment thereof or any interest thereon which has become due to the Board in accordance with the terms of the contract or under the provisions of this Act, has not been repaid, then -(a)without prejudice to any other remedy provided by law, such loan, instalment or interest may be recovered as arrears of land revenue, or(b)where such loan was taken for the purposes of trade, business or industry, the Board may, subject to such rules as may be made in this behalf by the State Government [* * * * *] [Omitted by Punjab Act 19 of 1973, Section 2.] take charge of the trade, business or industry of the person on such terms and conditions as may be agreed upon.
