Section 119 in The Maharashtra Co-Operative Societies Act, 1960
119. Order granting loan conclusive on certain matters.
- A written order by the [Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], or persons or committee authorised under the by-laws of the Bank to make loans for all or any of the purposes specified in section 111, granting, either before or after the commencement of this Act, a loan to or with the consent of a person mentioned therein, for the purpose of carrying out the work specified therein for the benefit of the land or for the productive purpose [or for the purpose of dwelling house in rural area] [These words were inserted by Maharashtra 5 of 1990, Section 7(a).] specified therein, shall for the purposes of this Act be conclusive of the following matters that is to say,-(a)that the work described or the purpose for which the loan is granted, is an improvement or productive purpose, [or for the purpose of dwelling house in rural area] [These words were inserted by Maharashtra 5 of 1990, Section 7(a).], as the case may be, within the meaning of section 111;(b)that the person had at the date of the order a right to make such an improvement or incur expenditure for the productive purpose, [or for the purpose of dwelling house in rural area] [These words were inserted by Maharashtra 5 of 1990, Section 7(a).], as the case may be; and,(c)that the improvement is one/benefiting the land [or such dwelling house] [These words were inserted by Maharashtra 5 of 1990, Section 7(b).] specified and productive purpose [or for the purpose of dwelling house in rural area] [These words were inserted by Maharashtra 5 of 1990, Section 7(a).], concerns the land [or such dwelling house] [These words were inserted by Maharashtra 5 of 1990, Section 7(b).] offered in security, or any part thereof as may be relevant.
