Section 14A(b) in Bihar Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Rules, 2005
(b)If the Mortgagor/Mortgagors fails/fail to repay the amount due within the period of 60 days as stipulated above the mortgagee will have the right to take step to realise the entire dues to the Board in lump. In addition to that a penalty not exceeding 5% of the loan amount actually received by the loanee or Rs. 1000/-(Rupee One thousand only). Whichever is higher shall also be realised from the Mortgagor/Mortgagors.
