Section 10 in The Rajasthan Land Development Corporation (Special Loan) Regulations, 1978
10. Conversion.
- A land holder who because of his ineligibility to raise an ordinary loan, is granted a special loan by the Corporation but later on becomes eligible for an ordinary loan, may be allowed to convert his special loan into that of an ordinary loan and his application would be recommended to the Commercial Bank concerned by the Regional Manager and/or Chief Loans Officer of the Corporation for grant of an ordinary loan. In such cases, the instalments of the principal already paid by him would be deducted from the cost of works payable by him to the Corporation and the balance amount would be sanctioned as an ordinary loan in his favour by the bank. In case of such conversion, the Commercial Bank shall reimburse the Corporation such amount(s) as are due from the loanee to the Corporation.
