Lawgist5Mode of dealing with applications for loans
(1) When an application for a loan is made under this Act, the officer to whom the application is made may, if it is, in his opinion, expedient that public notice be given of the application, publish a notice, in such manner as the State Government may, from time to time, direct, calling upon all persons objecting to the loan to appear before him at a time and place fixed therein and submit their objections.
(2) The officer shall consider every objection submitted under sub-section (1), and make an order in writing either admitting or overruling it:
Provided that, when the question raised by an objection is, in the opinion of the officer, one of such a nature that it cannot be satisfactorily decided except by a Civil Court, he shall postpone his proceedings on the application until the question has been so decided.
Download our fully-offline, High speed android app.- Click here
- 1 Short title
- 2 Acts 26 of 1871 and 21 of 1876 repealed
- 3 “Collector” defined
- 4 Purposes for which loans may be granted under this Act
- 5 Mode of dealing with applications for loans
- 6 Period for repayment of loans
- 7 Recovery of loans
- 8 Order granting loan conclusive on certain points
- 9 Liability of joint borrowers as among themselves
- 10 Power to make rules
- 11 Exemption of improvements from assessment to land revenue
- 12 Certain powers of State Government to be exercisable by Board of Revenue or Financial Commissioner
