Section 162(2) in Tamil Nadu Co-operative Societies Rules, 1988
(2)No application shall be made unless and until,-(a)a notice in writing requiring utilisation of loan or part thereof, or the payment of such mortgage money or part thereof has been served upon-(i)the mortgagor or each of the mortgagors;(ii)any person who has any interest in or charge upon the property mortgaged or in or upon the right to redeem the same;(iii)any surety for the payment of the mortgaged debt or any part thereof; and(iv)any creditor of the mortgagor who has in a suit for the administration of his estate obtained a decree for sale of the mortgaged property; and(b)default has been made in the utilisation of loan or part thereof or in the payment of such mortgage money or part thereof for more than three months after such service.
