Section 163A(4) in Maharashtra Housing and Area Development Act, 1976
(4)For avoidance of doubt, it is hereby declared that nothing in this section shall preclude the creditor Bank or the finance institution to take any action available to it under the provisions of any other law for the time being in force for the recovery of its dues under this section and that the provisions of. this section in that respect shall be in addition to and not in derogation of such other provision of law.Explanation. - For the purposes of this section, the expressions-(a)"purchase of land" shall include obtaining land on lease on payment of any premium or any other consideration;(b)"Scheduled Bank" means a bank included in the Second Schedule to the Reserve Bank of India Act, 1934;(c)"finance institution" means any public finance institution, such as Housing and Urban Development Corporation, Housing Development Finance Corporation, Life -Insurance Corporation of India and General Insurance Corporation of India, which provide loans to any individual or any co-operative housing society.]
