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[Cites 0, Cited by 0] [Section 53(1)] [Section 53] [Entire Act]

State of Karnataka - Subsection

Section 53(1)(b) in Karnataka Land Reforms Act, 1961

(b)where the amount is paid by him out of his own funds, in annual instalments of such number not exceeding twenty as he may intimate, with interest at five and half per cent per annum, from the date of the order under sub-section (4) or sub-section (5) of section 48A and where the money is advanced by the State Land Development Bank or a credit agency, in annual instalments of such number not exceeding the number permitted as maximum for the recovery of term loan granted by such bank or agency without interest there on. Provided that where payment is in instalments, two thousand rupees shall be paid as the first instalment and the balance in equated annual instalments: