6A. [ Release of immovable property. [Inserted by U.P. Act No. 2 of 1979.]
(1)A debtor referred to in clause (f), Section 5 may make an application to the Debt Settlement Officer having jurisdiction over the area within which such debtor ordinarily resides, or an order releasing the mortgaged property and for the grant of a certificate of redemption.(2)(a)On receipt of such application and after inquiry conducted in the manner prescribed, the Debt Settlement Officer shall pass an order releasing the mortgaged property, and grant a certificate of redemption in the prescribed form which shall be admissible as evidence of such redemption in any proceeding before any court or other authority.(b)The Debt Settlement Officer shall also direct the creditor or the transferee of the creditor-(i)to deliver procession of the mortgaged property to the debtor on or before the date, specified in the order, if the debtor is not already in possession of the mortgaged property; and(ii)to produce on or before the date specified in the order, the mortgage deed or other document and the Debt Settlement Officer shall make an endorsement of redemption of the mortgage deed or other document(3)Pending orders under sub-section (2), no creditor or the transferee of the creditor shall transfer or otherwise assign his interest in or exercise his right of foreclosure in respect of the property mortgaged by the debtor.(4)Where the mortgaged property has been transferred or any right therein has been assigned to any bank by the creditor, the Debt Settlement Officer shall recover from the creditor such amount as is due to such bank in respect of the said mortgaged property, as if it were an arrear of land revenue, and shall pay the same to the said bank.] [Substituted by U.P. Act No. 2 of 1979 and shall be deemed always to have been substituted.]
