LawgistThe Madhya Pradesh Reorganisation Act
41Right to recover loans and advances
(1) The right of the existing State of Madhya Pradesh to recover any loans or advances made before the appointed day to any local body, society, agriculturist or other person in an area within that State shall belong to the successor State in which that area is included on that day.
(2) The right of the existing State of Madhya Pradesh to recover any loans or advances made before the appointed day to any person or institution outside that State shall belong to the State of Madhya Pradesh:
Provided that any sum recovered in respect of any such loan or advance shall be divided between the States of Madhya Pradesh and Chhattisgarh according to the population ratio.
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APPORTIONMENT OF ASSETS AND LIABILITIES
- 37 Application of Part
- 38 Land and goods
- 39 Treasury and bank balances
- 40 Arrears of taxes
- 41 Right to recover loans and advances
- 42 Investments and credits in certain funds
- 43 Assets and liabilities of State undertaking
- 44 Public Debt
- 45 Floating loans
- 46 Refund of taxes collected in excess
- 47 Deposits, etc
- 48 Provident fund
- 49 Pensions
- 50 Contracts
- 51 Liability in respect of actionable wrong
- 52 Liability as guarantor
- 53 Items in suspense
- 54 Residuary provision
- 55 Apportionment of assets or liabilities by agreement
- 56 Power of Central Government to order allocation or adjustment in certain cases
- 57 Certain expenditure to be charged on Consolidated Fund
