Section 44M(2) in The Bihar Co-operative Societies Act, 1935
(2)Where any such person fails to receive such notice or such payment, such debt or part thereof, as the case may be, shall cease to carry interest from the expiration of the period specified in the notice;Provided that where there is a dispute as regards the amount of any such debt, the person to whom such debt is due may refer the dispute to Registrar for decision in accordance with provisions of Section 48:Provided further that the person to whom such debt is due shall, pending the decision in the dispute, be bound to receive payment, of the amount offered by the Land Development Bank towards the debt but such receipts shall not prejudice the right, if any, of person to recover the balance claimed by him.
