Section 8(1)(c) in The U.P. Agricultural Credit Act, 1973

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State of Uttar Pradesh - Subsection

Section 8(1)(c) in The U.P. Agricultural Credit Act, 1973

(c)where different charges or mortgages over the same land or interest therein have been created by an agriculturist in favour of a co-operative or a bank more then one bank any such charge or mortgage created as security for financial assistance given by the co-operative society or the bank or banks by way of term loan for development purposes shall have priority over the other charges or mortgages created in favour of the co-operative society or any of the banks provided prior notice of any such financial assistance by way of term loan for development purposes had been given to such co-operative society or bank and such co-operative society or bank had concurred in such financial assistance, and where more than one such charge or mortgage is created as security for financial assistance given by way of term loan, for development purposes shall rank for priority in accordance with the dates of their creation.

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State of Uttar Pradesh - Subsection

Section 8(1)(c) in The U.P. Agricultural Credit Act, 1973