[Cites 0, Cited by 0]
[Entire Act]
Union of India - Section
Section 5 in Agriculturist's Loans Act, 1884
5. Recovery of loans:-
Every loan made in accordance with such rules, all interest (If any) chargeable thereon, and costs (if any) incurred in making or recovering the same, shall, when they become due, be recoverable from the person to whom the loan and made, or from any person who has become surety for the repayment thereof, as if they were arrears of land-revenue or costs incurred in recovering the same due by the person to whom the loan was made or by his surety.| MADHYA PRADESHFor section 5 the following sections shall be substituted, namely-5. Recovery of loans.-(1) Subject to such rules as may be made under section 4, a loan granted under this Act with any interest due thereon, shall in default of payment, be recoverable by the Deputy Commissioner in all or any of the following modes, namely :(a) from the borrower - as if it were an arrear of land revenue due by him;(b) from his surety, if any - as if it were an arrear of land revenue due by him;(c) out of any land of the borrower - as if it were an arrear of land revenue due by him;(d) out of property comprised in collateral security, if any - according to the procedure for the realisation of land revenue by the sale of immovable property other than the land on which that revenue is due.(2) It shall be in the discretion of the Deputy Commissioner acting under this section to determine the order in which he will resort to the various modes of recovery permitted by it.5A. Loans to have priority.-A loan granted under this Act together with interest due thereon and costs of recovery shall except in respect of land revenue and a loan granted under the Land Improvement Loans Act, 1883, have priority over all encumbrances and charges created before the date of the order granting the loan on the borrower's interest in any land". - C. P. and Berar Act 34 of 1947, Section 2 (26-12-1947).MAHARASHTRAIn its application to the Vidarbha1region of the State of Maharashtra, substitute for section 5, the following:(i)5. Recovery of loan.-Every loan in accordance with such rules, all interest (if any) chargeable thereon, and costs (if any) incurred in making or recovering the same, shall, when they become due, be recoverable from the person to whom the loan was made, from any person who has become surety for the repayment thereof, as if they were arrears of land revenue or costs incurred in recovering the same due by the person to whom the loan was made or by his surety.(ii) In its application to the Vidarbha region of the State of Maharashtra section 5A as inserted by C.P. and Berar Act 54 of 1957 is repealed by Bombay Act 27 of 1958, Section 5(g) (1-4-1958) |