Section 94 in The Tripura Co-operative Societies Rules, 1976
94. Procedure for submission and consideration of applications for loans from Co-operative Land Development Banks.
(1)All applications for loans from a land development bank shall be made in the form prescribed by the State Land Development Bank with the approval of the Registrar. The form shall, among other things, contain a list of documents which are required to be submitted for purpose of dealing with the application.(2)Every co-operative land development bank shall keep sufficient stock of printed copies of the forms of loan application and shall supply them to the intending borrower on payment of such fees as may be specified, from time to time, by the co-operative land development bank, with the approval of the Registrar.(3)Every co-operative land development bank shall specify, from time to time, the name, designation and address of the officer, who shall receive all loan applications from the intending borrowers.(4)The application together with copies of necessary documents and the amount of all fees specified by the co-operative land development bank with the approval of the Registrar and deposits equivalent to the value of one share of the Bank, shall be submitted by the applicant to the Receiving Officer.(5)On receipt of an application for loan, the Receiving Officer shall put his initial on the application and mention his designation and the date of receipt of the application.(6)After an application for loan has been received, the Receiving Officer shall verify whether it contain all the necessary particulars and is accompanied by the necessary documents. If any details are lacking, he shall get the application completed by the applicant.(7)Each application shall be entered in the chronological order in the Register of Applications for Loans from the land development bank to be maintained by the Receiving Officer and shall be dealt with in the same order.(8)Immediately after the application is entered in the Register of Applications for Loans from the co-operative land development bank, the Receiving Officer shall forward it to the Assistant Registrar of Co-operative Societies within whose jurisdiction the land in respect of which the application is made is situate (hereinafter in this Chapter referred to as the Public Enquiry Officer). The Public Enquiry Officer shall give at least eight days' public notice in Form "V" calling upon all persons interested to present their objections to the loan, if any. The notice shall also be given by beat of drum and shall be affixed at the visible place of the village or villages where the applicant resides and in the limits of which the land and lands proposed to be improved or offered as security for the loan is or are situated. A copy of the notice shall be exhibited in the Plead Office and relevant branch office, if any, of the land development bank concerned and in the office, if any, of the person giving the notice.(9)The Public Enquiry Officer shall consider every objection submitted under sub-section (1) of Section 122 in the manner laid down in that section.(10)(a)The public Enquiry Officer shall then forward the applications within five days of their disposal to the co-operative land development bank concerned. The co-operative land development bank may appoint an enquiry officer (hereinafter in his Chapter referred to as the enquiry officer) to inquire into the applications. The enquiry officer shall make inquiry by actually visiting the land in which the improvement is proposed to be effected and the lands and other property offered as security. He shall conduct his inquiry in accordance with the form to be specified by the co-operative land development bank, with the approval of the Registrar.(b)In case the public enquiry officer is unable to forward the application within five days, he shall make a report to the Registrar stating thereunder the reasons therefor and he shall, thereafter act in accordance with such directions as may be issued to him by the Registrar:(11)(a)The enquiry officer may make such other enquiries, as may be necessary and shall value the lands according to such formula as may be laid down by the co-operative land development bank, with the approval of the Registrar, from time to time, estimate the repaying capacity of the applicant and examine the feasibility and the utility of the proposed improvement. He shall then submit his report staling what amount of loan may be granted to the applicant against what security and for what purpose and the period within which it may be recovered from him. The enquiry officer shall complete his enquiry within 15 days of the receipt of the application by him.(b)If the enquiry officer is unable to complete his enquiry within fifteen days, he shall make a report to the Registrar stating therein the reasons therefor and he shall thereafter act in accordance with such directions as may be issued to him by the Registrar.(12)After completion of the enquiry, the application together with his report shall be submitted by he enquiry officer to the co-operative land development bank together with following certificates:(a)certificate regarding outstanding Government dues;(b)any other relevant certificate.(13)On receipt of the report of the enquiry officer under sub-rule (12), the co-operative land development bank shall satisfy itself that the inquiry has been properly conducted. If there are any deficiency, the Bank shall get them completed immediately.(14)The co-operator land development bank may then undertake such further scrutiny as may be necessary and pass final orders within 30 days. Decision shall be communicated to the applicant within! 15 days thereafter. In case the final orders are not passed within 30 days, the Bank shall make a report to the Registrar stating therein the reasons therefor and shall thereafter act in accordance with such directions as may be issued to it by the Registrar.(15)In the case of rejection of application for loans, the reasons therefor shall be communicated by the Bank to the applicant. When the loan has been sanctioned, the Bank shall lay down the terms and conditions regarding grant of the loan, regarding payment of instalments, submission of report on the progress of improvement of loan and release of subsequent instalments. The applicant shall be asked by the co-operative land development bank to remain present at the head office or branch office of the Bank on a date to be fixed for execution of the mortgage deed and for receiving loan or the first instalment thereof. Such date shall not ordinarily be later than 15 days from the date of communication of sanction of loan to the applicant.(16)The applicant, while receiving the amount of the loan or the first instalment of the loan, shall purchase shares of the Bank to such extent as may be required under the bye-laws of the Bank. The co-operative land development bank shall issue a receipt to the applicant giving full particulars of the amount paid by him from time to time.(17)Failure to comply with any time limits specified in this rule shall not in any manner affect the validity of the sanction of the loan by a co-operative land development bank.
