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[Cites 0, Cited by 0] [Section 31] [Entire Act]

State of Maharashtra - Subsection

Section 31(4) in The Maharashtra Agricultural Debtors Relief Act, 1947

(4)If the debts found due by a debtor after taking accounts under section 22 are both secured and unsecured, and if the total amount of the secured debts is more than sixty per cent of the value of the property on which such debts are secured, the secured debts shall be further scaled down pro rata to sixty per cent of the value of the property on which such debts are secured and the unsecured debts shall be further scaled down pro rata to sixty per cent of the value of the other property belonging to the debtor over which no debts are secured.