Section 26(3) in The M.P. Shakari Krishi Aur Gramin Vikas Bank Adhiniyam 1999
(3)No such power shall he exercised by the State Development Bank or a District Development Bank unless and until-(a)notice requiring payment of sums dm to the District Development Bank or any part thereof has been served upon -(i)the loanee;(ii)any person who has any interest or charge upon the property to which the security relates or any other right to redeem the same;(iii)any surety for the payment of the sums due to the District Development Bank;(iv)any creditor of the loanee who has, in a suit for the administration of his estate, obtaining a decree for sale of the property to which the security relates; and(b)there has been default in payment of such sums due to the District Development Bank for a period of two months after service of the notice referred to in clause (a) :Provided that the obligation to give such notice to the persons mentioned in sub-clauses (ii) and (iv) of clause (a) shall he confined to cases where the State Development Bank or the District Development Bank has notice of such claims.
