12A. [ Co-ordination between the Claims Officer and the Compensation Officer under Section 24(5). [Inserted by Notification No. 1644 L.R., dated 24.2.1960.]
- Where the interest of an intermediary is subject to a mortgage or charge, the Claims Officer shall, immediately after the creditor holding such mortgage or charge submits his claim in writing in respect thereof to the Claims Officer under Section 14(1), send an intimation of the claim to the Compensation Officer concerned with a copy of the petition of claim filed by the creditor before the Claims Officer under Rule 10.(2)On receipt of the intimation about any claim under sub-rule (1) the Compensation Officer shall communicate to the Claims Officer concerned the amount of compensation tentatively determined by him in respect of such interest, and shall not finally determine the amount of compensation in respect there of till the amount of debt payable to the said creditor, or if there are more than one creditor, the amount of debt payable to each creditor, under Chapter IV of the Act, is communicated to him by the Claims Officer under sub-rule (3) for the purpose of adjustment under Section 24(5).(3)For the purpose of ensuring that the total amount of debt payable under Chapter IV of the Act does not exceed the amount of compensation payable in respect of such interest, as provided in Section 24(5) the Claims Officer shall communicate to the Compensation Officer concerned the amount of principal and interest, if any, payable to the creditor, or if there are more than one creditor, the amount of principal and interest, if any, payable to each creditor in respect of such interest under Chapter IV that may have been tentatively determined by him, keeping in view the amount of compensation tentatively determined by the Compensation Officer and communicated by him to the Claims Officer under sub-rule (2).]
