Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 16(3)] [Section 16] [Entire Act]

NCT Delhi - Subsection

Section 16(3)(i) in The Delhi Lands Reforms Act, 1954

(i)where the mortgagor tenant is an occupancy tenant under section 5 of the Punjab Tenancy Act, 1887, or a Pattadar Dawami or Istamrari with right of transfer by sale, the amount due from the mortgagor to the mortgagee under the mortgage shall also be determined in accordance with clause (c) of sub section (2). The mortgagee or his tenants shall each first pay out of the total compensation determined above, an amount equal to four times the land revenue payable for the land in his possession immediately before the commencement of this Act, to the proprietor, If the balance of the compensation payable by the mortgagee and his tenants, is greater than the amount due to the mortgagee from the mortgagor under the mortgage, the difference shall be paid by the mortgagee and his tenants, as compensation to the mortgagor tenant [(Note: Ins. by s.9 of Delhi Act 16 of 1956) in one lump sum within six months from the date of the order, first by the mortgagee tenant upto the extent of the amount left over , if any] If it is less, the entire mortgage money with interest shall be deemed to have been fully satisfied by the enjoyment of the usufruct and nothing shall be payable to the mortgagee in adjustment of the mortgage money.