Section 17 in Chota Nagpur Encumbered Estates Act, 1876
17. Power to lease. - Subject to the rules made under Section 19, the Manager shall have power to demise all or any part of the property under his management for any term of year [or in perpetuity], to take effect in possession in consideration of any fine or fines, or without fine and reserving such rents and under such conditions as may be agreed upon.
[18. Power of Manager to raise money by mortgage, sale, or loan. - After a scheme has been approved by the Commissioner under Section [11A], the Manager shall, subject to the sanction of Commissioner, have power,-(a)to demise by way of mortgage the whole or any part of such property for a term not exceeding twenty years from the date of publication of the order under Section 2, or(b)to sell by public auction or by private contract, and upon such terms as the Manager thinks fit, such portion of such property as may appear expedient;for the purpose of raising any money which may be required for the settlement of the debts and liabilities to which the holder of the property is subject, or with which such property or any part thereof is charged, or(c)borrow money, at such rate of interest as appears reasonable to the Board of Revenue, for the aforesaid purpose or for the purpose of meeting the costs of such repairs and improvements of the property as appear necessary to the Manager and are approved by the Commissioner.][18A. Freedom from obligation to in inquire into necessity for or application of, money. - (1) A mortgagee advancing money upon any mortgage made under Section 18 shall not be bound to see that such money is wanted, or that no more than is wanted is raised.(2)the receipt of the Manager for any moneys paid to him as such shall discharge the person paying the same therefrom and from being concerned to see to the application thereof.][18B. Power of Manager to contract and take action for the benefit of the property. - subject to the sanction of the Commissioner, the Manager, shall have power to enter upon any contract or to execute or relinquish any release or counterpart of a lease, or to take any action not otherwise provided for in this Act which in his opinion is necessary for the proper care and management of the property.]VI-Miscellaneous
