The Maharashtra Cooperative Societies Act 1960

1 Chapter: XI - AGRICULTURE AND RURAL DEVELOPMENT BANKS

Section 137 to 144IB

Footnote:
1. These words were substituted for the words "a Land Development Banks" by Mah. 10 of 1988, s. 19.

Section 137 - Recovery of loans on certificate by Registrar

(1) Notwithstanding anything contained in section 91 and 98, on an application made by 1 [an Agriculture and Rural Development Bank] for the recovery of arrears of any sum advanced by it to any of its members and on its furnishing a statement of accounts in respect of the arrears, the Registrar may, after making such enquiries as he deems fit. grant a certificate for the recovery of the amount stated therein to be due as arrears.

(2) A certificate by the Registrar under sub-section (1) shall be final and conclusive as to arrears due. The arrears stated to be due therein shall be recoverable according to the law for the time being in force for the recovery of arrears of land revenue.

(3) It shall be lawful to the Collector to take precautionary measures authorised by sections 140 to 144 of the Bombay Land Revenue Code, 1879 or any law or provision corresponding thereto for the time being in force until the arrears due to the 1 [Agriculture and Rural Development Bank] together with interest and any incidental charges incurred in the recovery of such arrears, are paid or security of such arrears is furnished to the satisfaction of the Registrar.

(4) It shall be competent for the Registrar or a person authorised by him to direct conditional attachment of the property of the mortgagor until the arrears due to the 1 [Agriculture and Rural Development Bank] together with interest and any incidental charges incurred in recovery of such arrears, are paid or security for payment of a such arrears is furnished to the satisfaction of the Registrar and the provisions of section 95 shall apply mutatis mutandis to conditional attachment of any property made or to be made under this section.

Footnote:
1. These words were substituted for the words "State Land Development Bank", "Land Development Bank" and "a Land Development Bank" by March. 10 of 1988, s. 19.

Section 138 - 1 [Mode of recovery by Collector]

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(2) Any amount due to 3 [ 4 [an Agriculture and Rural Development Bank] (Including cost of recovery thereof) shall on an application by it in this behalf] be recoverable by the Collector, or any officer 5 [including an Officer of the Agriculture and Rural Development Bank] specially authorised by the Collector in this behalf, in all or any or the following modes, namely:--
(a) from the borrower--as if they were arrears of land revenue due by him:
(b) out of the land for benefit of which the loan has been granted--as if they were arrears of land revenue due in respect of that land;
(c) from a surety (if any)--as if they were arrears of land revenue due by him;
(d) out of the property comprised in the collateral security (if any)--according to the procedure for the realisation of land revenue by the sale of immovable properly other than the land on which the revenue is due.

Footnote:
1. This marginal note was sub stituted by Mah. 33 of 1963, s. 27(c).
2. Sub-section (1) was deleted by Mah. 33 of 1963, s. 27(a).
3. These words were sub stituted for the words "a Land Development Bank shall", by Mah. 33 of 1963 s. 27(a).
4. These words were sub stituted for the words "a Land Development Bank". "Land Development Banks" "State Land Development Bank", and "a Land development Bank" respectively, by March. 10 of 1988, s. 19.
5. These words were inserted by Mah. 10 of 1988, s. 26.

1 Section 139 - Officers or members of family not to bid at auction sales

At any sale of movable or immovable property, held under the provisions of this Chapter, no officer or employee or any member of the family of such officer or employee of 2 [a Agriculture and Rural Development Bank] except on behalf of the bank of which he is an officer or an employee, and no person having any duty to perform in connection with such sale, shall either directly or indirectly bid for or acquire or attempt to acquire any interest in such property.

Explanation.--For the purposes of this section, the expression "member of the family" means wife, husband, father, mother, bother, sister, son, daughter, son-in-law or daughter-in-law

Footnote:
1. Section 139 was substituted for the original by Mah. 20, of 1986, s. 56.
2. These words were sub stituted for the words "a Land Development Bank". "Land Development Banks" "State Land Development Bank", and "a Land development Bank" respectively, by March. 10 of 1988, s. 19.

Section 140 - Section 40 of Bom. XXVIII of 1947 not to apply to alienation in favour of Agriculture and Rural Development Bank

Nothing contained in section 40 of the Bombay Agricultural Debtors Relief Act, 1947, or any corresponding law for the time being in force in any part of the State shall apply to any alienation in favour of the 1 [Agriculture and Rural Development Banks].

Footnote:
1. These words were sub stituted for the words "a Land Development Bank". "Land Development Banks" "State Land Development Bank", and "a Land development Bank" respectively, by March. 10 of 1988, s. 19.

Section 141 - Provision for Guarantee funds to meet certain losses

(1) It shall be competent for the State Government to constitute one or more Guarantee Funds on such terms and conditions as it may deem fit, for the purpose of meeting losses that might arise as a result of loans being made by the 1 [Agriculture and Rural Development Banks] on titles to immovable property subsequently found to be defective or for any other purpose under for or create a separate Guarantee Fund.

(2) The 1 [State Agriculture and Rural Development Bank] and the 1 [Agriculture and Rural Development Banks] shall contribute to such funds at such rate as may be prescribed, and the constitution, maintenance and utilisation of such funds shall be governed by such rules, as may be made by the State Government in this behalf.

Footnote:
1. These words were substituted for the words "a Land Development Bank". "Land Development Banks" "State Land Development Bank", and "a Land development Bank" respectively, by March. 10 of 1988, s. 19.

Section 142 - Registrar's power to permit any society or Class of societies to function as an Agriculture and Rural Development Bank

It shall be competent for the Registrar to permit any 1 [society] 2 [or class of societies to function as 3 [an Agriculture and Rural Development Bank] under such terms and conditions and for such period as he may deem fit.

Footnote:
1. This word was substituted for the words "Co-operative bank" by Mah. 20 of 1986, s. 57.
2. These words were inserted by Mah. 10 of 1988, s. 27.
3. These words weresubstitutedfor the words "a Land Development Bank", "LandDevelopment Banks" "State Land Development Bank", and "aLand development Bank" respectively, by March. 10 of 1988, s. 19.

Section 143 - Service of notice

The provisions of sections 102 and 103 of the Transfer of Property Act, 1882, and to any rules made under section 104 thereof, shall apply, so far as may be in respect of all notices to be served under this Chapter.

Section 143A - Transfer of rights and liabilities of Government in respect of schemes sanctioned under Bom. XXVIII of 1942

(1) Where any works, included in a land improvement scheme which has come into force under the Bombay Land Improvement Schemes Act, 1942, are carried out at the cost or part cost of the State Government, and such cost is to be recovered from the owners of lands (other than Government) included in the scheme as shown in the statement prepared under section 13 2 [or in the interim or final statement] prepared under section 13 A of the Act, then notwithstanding anything contained in this Act, all the rights and liabilities of the State Government for the recovery of the cost or part cost from the owners of land shall stand transferred to 3 [an Agriculture and Rural Development Bank], in relation to such owners of lands and subject to such terms and conditions (including any condition regarding giving of any guarantee by the State Government) as may be agreed upon between the State Government and such 3 [Agriculture and Rural Development Bank]; and for arriving at such agreement, every owner of land shall produce before the Bank all such documents, and other evidence relating to his land included in such scheme as the Bank may requires.

(2) On such transfer of rights and liabilities of the State Government, the 3 [Agriculture and Rural Development Bank] shall pay to the State Government an amount equal to the extent of the liability accepted by it under such agreement, and the State Government shall inform the owners of lands concerned of such transfer: and thereupon, the provisions of this Act and rules thereunder in so far as they provide for advancing of loans (including provision for mortgaging of property,) and recovery thereof shall apply in relation to the amount of cost to be recovered from each owner of land as they apply in relation to advancing of loans and recovery thereof (including interest) as if such owner was a member of the 3 [Agriculture and Rural Development Bank]. The transfer of the and liabilities and payment made in accordance therewith; shall discharge the owners of lands of their liability to make payment to the State Government under the Bombay Land Improvement Schemes Act, 1942, but to the extent only of their respective liability accepted by the Bank].

Footnote:
1. Section 143 A was inserted by Mah. 35 1969, s. 2.
2. These words were substituted for the words "or In the final statement" by Mah. 10 of 1971, s. 2.
3. These words were substituted for the words "a Land Development Bank", "Land Development Banks" "State Land Development Bank", and "a Land development Bank" respectively, by March. 10 of 1988, s. 19.

Section 144. Power to Committee of 1 [State Agriculture and Rural Development Bank] to supervise 1 [Agriculture and Rural Development Banks] and make regulations

The committee of the 1 [State Agriculture and Rural Development Bank] shall have a general powerof supervision over 1 [Agriculture and Rural Development Banks] and may,with the previous sanction of the State Government make regulations, not inconsistent with this Act or the rules made thereunder, for all any of the following matters, namely:--
(a) for the inspection of the account books and proceedings of 2 [Agriculture and Rural Development Banks];
(b) for the submission of returns and reports by such banks in respect of their transactions;
(c) for the periodical settlement of accounts between such banks and the 2 [State Agriculture and Rural Development Bank] being accounts relating to the payment of the amounts recovered by such banks on mortgages transferred to the 2 [State Agriculture and Rural Development Bank];
(d) for the form in which applications to such banks for loans shall be made and for the valuation of properties offered as security for such loans;
(e)for the investment of moneys realised from the mortgagors;
(f) the conditions of service of employees of such banks:
(g)the programme and policy to be followed by such banks for making loans;
(h) the types and extent of security to be obtained by such banks of advancing loans;
(i) generally, for the purpose of safeguarding the interest of the parties furtherance of activities of such banks, and carrying out the purposes of this Chapter.

Footnote:
1. These words were substituted for the words "a Land Development Bank", "LandDevelopment Banks" "Stale Land Development Bank", and "aLand development Bank" respectively, by March. 10 of 1988, s. 19.
2. These words substituted for the words "Land Development banks", "State Land Development Bank". "PrimaryLand Development Banks" and "Primary Land Development Bank" by Mah. 10 of 1988, s. 19.

1 Section 144IA - Reorganisation, amalgamation or division of 2 [Agriculture and Rural Development Banks,] in public interest

(1) Notwithstanding anything in this Act or in any rules or bye-laws made thereunder, it shall be lawful for the State Government to provide from time to time, by an Order made under and in accordance with the provisions of section 18, for the reorganisation of the 2 [Primary Agriculture and Rural Development Banks], either by amalgamating with it all any of the 2 [Primary Agriculture and Rural Development Banks] or otherwise: or for the division of the 2 [State Agriculture and Rural Development Banks] into a 2 [State Agriculture and Rural Development Bank] and one or more 2 [Primary Agriculture and Rural Development Banks] as may be considered necessary: or for the amalgamation or division of all or any of the 2 [Primary Agriculture and Rural Development Banks] among themselves. Accordingly. for the purposes of this section. in section 18 and in any rules made thereunder for the word "Registrar" wherever it occurs. the words. "State Government" shall be deemed to be substituted.

(2) Where there is no 2 [Primary Agriculture and Rural Development Bank] in the State or in any part thereof. or 2 [Primary Agriculture and Rural Development Banks] are merged with the 2 [State Agriculture and Rural Development Bank] 2 [State Agriculture and Rural Development Bank] amy establish and maintain as many branches as may be deemed necessary: and shall function also as a 2 [Primary Agriculture and Development Bank] throughout the State or in the area concerned, as the case may be. Any reference to a 2 [Primary Agriculture and Rural Development Bank] in this Act. or any other law for the time being in force or in any instrument, shall, as the context may require, be construed as a reference to the 2 [Primary Agriculture and Rural Development Bank] or its branches concerned, or be read subject to such modifications as may be necessary due to absence of any 2 [Primary Agriculture and Rural Development Bank] or due to merger of the 2 [Primary Agriculture and Rural Development Bank] or Banks in the 2 [State Agriculture and Rural Development Bank.].

Footnote:
1. Section 144-IA was inserted by Mah of 1972, s. 4.
2. These words substituted for the words "Land Development banks", "State Land Development Bank", "Primary Land development Banks" and "Primary Land Development Bank" by Mah. 10 of 1988, s. 19.

Section 144IB - [Deleted]

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Footnote:
1. Section 144 - 1B was deleted by Mah. 10 of 1988, s. 28.

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