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State of Maharashtra - Section

Section 93 in The Maharashtra Cooperative Societies Rules, 1961

93. [ Procedure for submission and consideration of applications for loans from Co-operative Agriculture and Rural Multipurpose Development Bank. [Substituted by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).]

(1)All applications for loans from a Co-operative Agriculture and Rural Multipurpose Development Bank shall be made in the form as specified by the State Co-operative Agriculture and Rural multipurpose 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 purposes of dealing with the application.
(2)Every Co-operative Agriculture and Rural Multipurpose Development Bank shall keep sufficient stock of printed copies of the forms of loan applications and shall supply them to the intending borrower on payment of a fee of one rupee per form.
(3)Every Co-operative Agriculture and Rural Multipurpose Development Bank shall specify, from time to time, the name, designation and address of the officer (hereinafter in this chapter referred to as "the Receiving Officer"), who shall receive all loan applications from the intending borrowers.
(4)The application together with copies of necessary documents, deposit equivalent to value of one share of the Bank and fees specified below, shall be submitted by the applicant to the Receiving Officer as follows, namely: -
Loan amount Fees to be paid in Rs.
Up to Rs. 5,000 5
Rs.5,001 to Rs.15,000 20
Rs.15,001 to Rs.30,000 30
Rs.30,001 to Rs.50,000 50
Rs.50,001 and above 100
(5)On receipt of an application for loan, the Receiving Officer shall put his initials 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 contains 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 application 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 Agriculture and Rural Multipurpose Development Bank, the Public Enquiry Officer of the Bank shall give at least eight clear days public notice in Form "S" 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 chavdi of the village or villages where the applicant resides and in the limits of which the land or 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 head office and relevant branch office, if any, of the Co-operative Agriculture and Rural Multipurpose Development Bank concerned and in the office, if any, of the person giving the notice. If any persons interested fail to appear as stated as required by the aforesaid notice, the questions at issue will be decided in their absence and such persons will have no claim whatsoever against the property for which the loan applied for will be sanctioned till such time as the loan together with interest thereon or any other dues arising out of the loan are paid in full by the loanee.
(9)The Public Enquiry Officer shall consider every objection so received.
(10)The Public Enquiry Officer shall then forward the application within two days of their disposal to the Co-operative Agriculture and Rural Multipurpose Development Bank concerned. The Co-operative Agriculture and Rural Multipurpose Development Bank may appoint an enquiry officer (hereinafter in this chapter referred to as "the Enquiry Officer") to enquire 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 enquiry in accordance with the form specified by the State Co-operative Agriculture and Rural Multipurpose Development Bank, with the approval of the Registrar. In case the Public Enquiry Officer is unable to forward the application within two days, he shall make a report to the Registrar, stating there under the reasons therefor and he shall, thereafter act in accordance with such directions as may be issued to him by the Registrar.
(11)The Enquiry Officer may make such other enquiries as may be necessary and shall value the lands according to such formulae as may be laid down by the State Co-operative Agriculture and Rural Multipurpose Development Bank, estimate the repaying capacity of the applicant and examine the feasibility and the utility of the proposed improvement. He shall then submit his report stating 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 inquiry within fifteen days of the date of the receipt of the application by him. If the Enquiry Officer is unable to complete his enquiry within fifteen days, he shall make a report to the Co-operative Agriculture and Rural Multipurpose Development Bank stating therein the reasons therefor and he shall thereafter act in accordance with such directions as may be issued to him by the Co-operative Agriculture and Rural Multipurpose Development Bank.
(12)After completion of the enquiry, the application together with his report shall be submitted by the Enquiry Officer to the Co-operative Agriculture and Rural Multipurpose Development Bank together with the following certificates, namely: -
(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 Agriculture and Rural Multipurpose Development Bank shall satisfy itself that, the inquiry has been properly conducted. If there are any deficiencies, the Bank shall get them completed immediately.
(14)The Co-operative Agriculture and Rural Multipurpose 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 7 days thereafter.
(15)All the applications received by the Co-operative Agriculture and Rural Multipurpose Development Bank shall be disposed of by the Bank within a maximum period of four months.
(16)In the case of rejection of applications for loan, 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 installments, submission of report on the progress of improvement of land and release of subsequent installments. The applicant shall be asked by the Co-operative Agriculture and Rural Multipurpose 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 installment thereof. Such date shall not ordinarily be later than 15 days from the date of communication of sanction of loan to the applicant.
(17)The applicant, while receiving the amount of the loan or the first installment of the loan, shall purchase shares of the Bank to such extent as may be required under the by-laws of the Bank. The Co-operative Agriculture and Rural Multipurpose Development Bank shall issue a receipt to the applicant giving full particulars of the amounts paid by him from time to time.
(18)Failure to comply with any time-limit specified in this rule shall not in any manner affect the validity of the sanction of the loans by a Co-operative Agriculture and Rural Multipurpose Development Bank or by the State Co-operative Agriculture and Rural Multipurpose Development Bank.]