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[Cites 0, Cited by 2] [Section 37A] [Entire Act]

State of West Bengal - Subsection

Section 37A(5) in The Bengal Agricultural Debtors Act, 1936

(5)After making the estimate referred to in sub-section (4), the Board shall make an award directing the applicant-
(a)to pay annually in cash to the decree-holder one-half of the value of such average annual gross receipts until the debt is extinguished or until twenty years have expired from the date of the award, whichever is earlier, and
(b)in addition, to pay in cash together with each such annual payment as long as such payment continues any amount payable to the landlord of the applicant as current annual rent of the property sold:
Provided that if the property sold is subject to any bona fide mortgage executed by the decree-holder before the twentieth day of December, 1939, the Board shall in the said award instead of directing the payment referred to in clause (a), direct-
(i)that the applicant shall until the principal of the said mortgage in so far as such principal does not exceed the debt referred to in clause (a) of sub-section (7), is paid off or until twenty years have expired from the date of the said award, whichever is earlier, pay to such mortgagee annually and in cash one-half of the value of the average annual gross receipts referred to in clause (a) of this sub-section, and
(ii)that the applicant shall, if after such principal of the said mortgage is paid ofF anything on account of the debt referred to in clause (a) of sub-section (7) is still outstanding and twenty years have not expired from the date of the said award, continue to pay the amount referred to in clause (a) of this sub-section to the decree-holder until the debt is extinguished or until twenty years have expired from the date of the said award, whichever is earlier.
Explanation. - For the purposes of this proviso any payment made to the mortgagee under clause (i) of this proviso shall be deemed to be made towards the debt referred to in clause (a) of sub-section (7).