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[Cites 0, Cited by 0] [Section 48A] [Entire Act]

State of Maharashtra - Subsection

Section 48A(1) in The Maharashtra Co-Operative Societies Act, 1960

(1)[Where a loan has been advanced by any society in accordance with the last preceding section for the growing of any agricultural produce, or has been advanced by any other society which is [a Co-operative Agriculture Rural and Multipurpose Development Bank] for any of the purposes enumerated in clause (a) of section 111 and if in either case any agricultural produce is tendered by the person who has taken any such loan] for sale at a collection centre under section 30A of the Maharashtra Agricultural Produce Marketing (Regulation) Act, 1963, on any day then the price agreed to be paid therefor shall be paid by the purchaser to the tenderer after deducting the dues of [the societies mentioned] [These words were substituted for the words 'the co-operative society mentioned', by Maharashtra 44 of 1973, Section 2(a)(ii.)] aforesaid [* * * * *] [The words 'and to the extent hereinafter stated' were deleted by Maharashtra 50 of 1977, Section 3(a)(i).] and the amount so deducted shall be paid to the Market Committee constituted under that Act as provided in that section. On making payment to the tenderer and the Market Committee in the manner provided in the aforementioned section 30A the purchaser shall be discharged of his liability to pay the price to the tenderer.[The amount of the deduction on account of loans advanced by societies shall [be made at such rate as may be notified by the State Government in this behalf by general or special order, so, however, that such rate shall] [This portion was substituted by Maharashtra 44 of 1973, Section 2(a)(iii).] not in the aggregate exceed the following percentage of the total amount to be paid by the purchaser as the price, namely:-
(i) if the produce tendered for sale is sugarcane 100%
(ii) if the produce tendered for sale is[cotton] [This word was substituted for the word 'kapas', by Maharashtra 50 of 1977, Section 3(a)(ii).] 60%
(iii) in any other case 40%].