Section 6(1) in The Maharashtra State-AID to Industries Act, 1960
(1)Subject to any rules made under section 7, all loans, all interest (including any penal interest) chargeable thereon, and costs incurred in making or recovering the same, shall be recoverable when they become due, by the Collector, or such officer as the State Government may authorize in this behalf, on receipt of the intimation from the authority sanctioning the loan, in one or more of the following modes, namely:-(a)from the borrower, as if they were an arrear of land revenue due by him;(b)from him surety, if any, as if they were arrears of land revenue due by him;(c)out of the assets created out of the amount of loan advanced, according to the procedure for realization of land revenue by the sale of such assets;(d)out of the property comprised in the collateral security (if any) according to the procedure for the realization of land revenue by the sale of such property.
