LexThe Chhattisgarh Sahakari Krishi aur Gramin Vikas Bank Adhiniyam, 1999.
Chhattisgarh · state statute
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. 2000 | |
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MADHYA PRADESH ACT
No. 20 oF 2000.
MADHYA PRADESH SAHAKARI KRISHI AUR GRAMIN VIKAS BANK ADHINIYAM,
1999.
TABLE OF CONTENTS
Sections :
CHAPTER-I—PRELIMINARY
1. >" Short tine, eaten and commence, _ .
2. _ Definitions. a. 3
3. Conferrai of Registrar's Power.
CHAPTER FUNDS AND RESOURCES. pe
dome: . Power to-raise funds. . pwnd of: —_
5. Issue of debentures... ..° > .;
6. ise of Bands ad ising Goes and Reps. me
7 ingment and powers ¢ of Arusiee. P ae
a Government Guarantee for Bonds, 5, sitoth, .
9. _ Guarantee Fund. oe a
FR* Sera SEbbifEB In Band: |B Re ee Te nes
HW. Power of Siate Development Bank to make Regulations for the purpose of
this Chapter. wads
" CHAPTER-I--LOANS .
PME cnt pe oe a Tat 0s ATs Av saribue ster fhe oo
12, Power to Advances Loans. | tet
13. Who can be Granted Loans and Advances. +
14. ‘Rugulation of Certain Categories of Member.
15. Security for Loans.
16. * Disposal of Application for Loan: o
17. Order Granting Loan conclusive of Cenain Matters.
18. Application for loan from a District Development Bank-to. be te supponed by
Affidavit.
19... Priority of claims over securities. = om
20. Transfer and vesting of Security with State Development Bank,
al. Moncy Borrowed for Development of land.
22, Omitted.
' CHAPTER-IV—DISTRAINT AND SALE OF PRODUCE
23. Distraint when to make.
24, - Distraint how to make.
25. Sale of property distrained.
CHAPTER-V—-SALE OF PROPERTY WITHOUT INTERVENTION OF COURT
26. Power to sell properly charged without intervention of Court.
27. Application for sale and manner of sale.
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eo a Be afedos ae sh.
fiewa aifteent at Fah
‘fama 4 sofa ea at a ws fara He ut fren fine ae a afin.
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eaferra wire Hf apfe aea ar fawre anes octet.
wee feanen serene A wera wet et ae.
wings ee Hf reniea woe & facies a see ae et ae We Freer.
aire SY wrt art oft cemeat at sexta Fe st Te.
Tq forever em ay five fiver Sex gre Cemetta a regener,
7 wre we atte fafeara Tater eet a, fine fee de at fs,
Sees wi a
aor Pro Se 8 ae afl eh Fal a Pre Fra ed ga ed na tw
: "at Safest on aa.
aaa a, x At 4 OM] ETT.
Garrat St Wie,
wate sam stata, wt
Sat & aftent ah fara afteent feowa A ateit set ere.
Sire nd ed US Ree OT otc aE Fae aH Ry ss ee
en Prat es gre ere eT era
wert wwe wT.”
I id dh & tei tv oe
846 & afahrm a. Ba Ge © fiten ferere Set wee sere sean Wea
FE ary Wh,
arareal a1 ar.
fen war at ute.
rafter ect ak fae ar cr fee A
Fran aft orga.
ere ding rac qrvbreaag yeh ds fer esr teeta oa} eM a ea i ea he for oe se =
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38.
29.
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31.
Bh a
33.
3d.
a3.
Confirmation of Sale.
Distribution of sale proceeds
Grant of sale cerlificate.
Possession of property.
Right of State Development Bank or District Development Bank to Purchase
property at sate.
Appointment and power of receiver.
Title of purchaser not lo be impeachable.
Appointment of Sale Officer.
eeecrre:
: - CHAPTER-VI-MISCELLAN {ISCELLANEOUS
Powersof Site Developmen BaorDiatDsekpmenBanin aso insufficient .
security or misutilisation of logn.
Powers of State Development Bank and Trusee to Direct dissin and sale of produce,
-: aiid-nale of property: °° Le
Banks' right to improvements effected to tke securhy,
Deduction from sale proceeds of agricutural produce in cortain cates.
Security not {0 be quéstioned in Insolvency proceedings. -
Restriction on power to encumber or transfer the property offered as s security.
Power to susftinon -winiesses and requisition dociment.
Registration of document by Sue Development Bank or: District Development Bank,
"Power of Distriét Development Bank to receive-money-and grant-valid discharges.
Proof of documents or entries in documents.’
- Application of Chapters IIT, IV and V to loans advanced by by District Development
Banks from fund not borrowed from State Development Bank.
Services of notices. -
- Applications of provisions of transfer of Property Act, 1882 to notices.
Officers of Banks snd sale officers not to Bid at sales.
Officers, employees or persons tobe public's servant, and their indemnity for Acts done
in Good faith: »
Delegation of powers by the Sine Development Bank.
Openiag of Branches.
Special provisions for security furnished by Karta of a Hindu Undivided Famity.
Section 8 of Act 32 of 1956.10 apply to District Desslopment Baiik subject to Certain
modifications.
Congnizance of offences.
Power to make rutes. ;
State Development Bank's power of supervision and of making regulations.
Repeal and savings.
*
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MADHYA PRADESH ACT
No. 20 oF 2000.
THE MADHYA PRADESH SAHAKARI KRISHI AUR GRAMIN VIKAS BANK
ADHINIY AM, 1999.
[Received the assent of the President on the 5th July, 2000; assent first published in the "Madhya
Pradesh Gazette (Extra-ordinary)" dated the [3th July, 2000.]
. An Acttofacilitate amore efficient working of the Co-operative Agricaltureand Rural Development
Cele ease, a them fa Play a greater devélopmental role both in
"farming and non-farming sectors. ~
‘Be il enacted by the ‘Madhya: Pradesh Legislature in 1 the Fiftieth Year of the, Republic of India
aig” Follows: —"""
"CHAPTER I—PRELIMINARY
id This Act may be called the Madhya F Pradesh Sahakari Krishi Aur Gramin Vikas Bank
Adhinivam. 1999. ;
12) extends tothe whole of the State of Madhya Pradesh, owe
_43y It shall come into force on such date as the State Government may, by hotification; appoint.
2. (I) In this Act, unless the context otherwise requites,—
Sheet title, Extent
: {a} "Board" means the Board of Directors of the Madhya Pradesh State Co-opeive
Agriculture and Rural Development I Bank. Limited;
tb) * “State Development Bank" means, . the Madhya. Pradesh State Co- “operative
Agriculture and Rural Development Bank Limited, registered or deemed to-be
registered under the Madhya Pradesh Co-operative Societies Act, 1960 (No 1? of
1961);
(c) "District Development Bank" means a district Co-operative Agriculture and Rural
- Development Bank registered or deemted to be registered under the Madhya Pradesh
Co-operative Societies Act. 1960: (No 1? of 1961);
td} “Loanee". means the person to whom loan is advanced by the State Development
Bank or a District Development Bank on security as provided i in sub-section (1} of
section 1
. {c} “National Bank" means National Bank for Agriculture and Rural | Development
established under section 3 of the National Bank for Agriculture and Rural
Development Act, 1981 (No. Gof 1981), «. corn
i
the repayment of joan:
(2) “Sinking Fund” means a fund established and maintained by the State Development
Bunk for redemption of ordinary debentures;
(h} “Trustee” means the Trustee referred to in section 7.
l
if } “Security” means the security as refered to in t sub-section (laf section 15:10 secure ,
tian at
Vitara ar Weer
far Sr.
Pet rh a
frien wr elf Pasar
(2) Fwel ath afteahertl &, st 3a afefrm a wae € atk vad ofonfire ae € faegq sen
Beard dara aftr, ceo (MA we Bet) ht Tab aes wary ay Frat F ofa F,
aa ad ein at se afafren Fo ash fer feu me F.
2. Ts TER, SETA om, AEN & aire feat afrant a sept ws & fey a sa
fret fatiide um 3 fo carer tet afl a aa @ feet afte ar athe aac te eed a a a
fret atten a Fe afatrem grr wm see aetT then Rt yew St we Foo za oifrdiaa fey
ma € wa aI TER, Ba fee ends TY St oe ae Pf wed & fee Fg
me ah
sere fii ake darn
x, meen wear sae afte, wrGo (aso Te tNet) ara Fd a HA
Re tf, am Pre es cr ee se ari & ate ee ara Bares wary ae Pre & avers
wa FI 4
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&. (2) m8 farare He, rere att gee fs fi fet
we fir —
(i). det sree sh era oh ct we we wh aed, sab BO afte:
Re a Pre: aA Sa aR wer a afte sfeyfeat a sae ero ct ae aa
anal a ee go & awa & ae gush ante ot akan ema feet rr
firera fe ei arm sufteat att vfryfrat wat eT;
CQ) weer age five fate & ands, genfeefs, wenfea, eet ar afor atte THT TAT
BRI Fe Wats & fer sapien feet sett a1 ar Prats Pera ven 8 & yates
& fee teh coer venga & wa Ke a0 as att a anferit afin ar
arte far el srenatval & fore, wt ae eet aAy, a TAT.
(a). Freres at ae ance Ps my Rea ee aA Ret at a as a fara .
we, Ea sed ee ea fear eck fesse at ates & fore Fee endef
. WH ATE BG,
oo (9) cpm fers ra Pie Fett eaten en Peat eb aare wata e wintry
Te Se arena aR TTT (4) a BE (a) F Falke weed weg ves Males Fe VA ath See an EE RE RH TR Ree A i aah Wo a ete coe a 8 as amet Bhi: i "at ity
Cx) el fet it es Aue 0 Fre ro fr ae ee fre
BRT STURT (t) A fates wets & for Srifha fetal ox ge vier afk feet ot aoe cada can,
sre (3) H He ae ah He VHA, fey fees ve wa cen a ter am wh dust % sila
78 t, sa ahr ae, St wes GET BO TTI (2) & ah -anphiin BY ary, aafien eT Ort.
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(21 Words and expressions used in this Act and not defined herein but defined in the Madhya
Pradesh Co-operative Societies Act, 1960 (No 17 of 1961), and the Rules made thereunder, shall have
the meaning assigned to them in that Act.
3. The State Government may, by notification, for the whole or for any specified part of the
Suite, appoint any officer sub-ordinate to the Registrar to exercise afl or any of the powers and to
periorm all of any of che duties, conferred and imposed on the Registrar by or under this Act subject
to such controt as the State Government may direct.
CHAPTER-I—FUNDS AND RESOURCES
4, Notwithstanding anything contained in the Madhya Pradesh Co-operative Societies An, 1960
‘No. 17 af 1961), the State Development Bank may, with the prio approval of the State Government
and subject 10 the Rules made under this Act, raise funds i through ’
fa) Debentures:
th) . Bonds;
“fc Loans;
(d) Deposits;
(e) Donations: and:
in Grants.
5.1) With the previous sanction of the State Government and the trustee, the State Development
Bank may issue debentures of one or more denominations § for—
(i) such periods and at such rates of interest a it muy deem expedient against one oF
"more securities held or partly held-o¥ partly be acquired or ottier assets aken'by
it and other assets and securities of District Devélopent Bank transferréd or deemed
1c have been transferred to it under the provisions of section 20;
tii} lhe purpose of providing loans to ‘a company or any other body corporate
established, registered or constituted, as the case may be; under any law for the
time being in force and approved for that purpose by the State Government, on the
strength of such Goverament Guarantee and. with or without other securities and
other assets, for such periods as it may deem expedient.
(2) The State Development Bank shall have the right to call ia, ‘at any time, any of the
:- debentures in advance of the date fixed for redemption after issuing a notice itr such manner as it
may prescribe to the debenture holders.
2)The: siusbamount due.on the debentures issued by the State Development ‘Bank, and
outstanding at any time, shall not exceed the aggregate of the amount duc on the securities and other
assets and Government Guarantee referred to in clause (it) of sub-section (1) and the amounts paid
thereunder and remaining with | the State Development Bank or the Trustee at such time.
-44)-Whete debentures are issued otherwise than against Torpages held, the total amount due
on debeatures issued by the State Development Bank for the purpose specified in sub-section (1) and
outstanding at any lime shall not exceed the tolal amount as calculated under sub-section (3) increased
by such portion of the amount obtained an the debentures as is not covered by mortgages to such
exlenl as may be approved by the State Government under sub-section (1).
2
Couferral of
Regstrar's
Power to raise
Fends.
issue of
meat or Prvittre
Fever Sr AS aay Gr TRA Oe UT fy ATG, eT TT aR St yh S eee ay Fea ae TTT ot
ee fr gaa val & Ea a FA sae Pritts fer aA at ate 2 tel serafe ot senate =, oI
canto Pre atte yifarat,
Pedtrartt, aber
_afre auntt & fare
RT Bl.
(2) WI GEM, «a feera fe att art 8 nee wet & war Tang Ff safer gre wen .
&. (2) 7 free aa ta Pedi a seal & sea wea ge, Sh aie fad dae a TE
oncta food dam usta dH gre aphfea Bt aT, aaa et aA oH afrdea A:
Wey Wee ferare He tees eal Bi Oe Bia 4, atl ae fates we, Gear St & TaN, Ses
ig adie shor van ar ofaders, ca wert Fran arerafla a aerated & oe fart at ara ee wer.
(2) Tom fare
ace gat ar fel are RR, wha, virda Rad Ss a bad va Pa eral
. A stead om agit ot and curd a & ae
(@) am @ Prd & ake
Fa ew
o. (4) nage fedeat erat & aft wer fare not arama at ofl ger we ok
MT. € & a ek fel at sea tS gest sets fr ae ea
& seo fee of sed a
| (2) ant peat & wared ah & am 8 ww wea Frm en ate va ee aoe ed
. ae ew ace i me es ree ok fr
. (9-08 8 ai pe a Bae Fer |
6-6 mets Oe TT ee Ee A
Ce) fee er a 003 fe er ae er ar 2 a aa
sees hotel nf fe ae ae fee a aot
@ ware A fates et arbi
, (4) fete ret a Bad re fy aerate ve tel siya anda den ah 73
Pare es ot rareh ope ah eae Tw we arf es sa ae er Een
are), BM,
é. (x) su ats Fin Font era ant Fim ae a flee ae
Tene a ea oH sare & tty Bsa afer cee oe, BT] AER ER Baa-aT HR fra
a Scena aon TR Rt, FoR: ewe ow we We wet FH
Toe A ethe 9a. 8 ane Be A. ger HUTA il, farRRT AR aR wR, aD we Whee fer eH WTA
WT SR, TTT (2) a aes SE Teas at teh afkepen a qa FW fale aha a, wt ras
4 afer & yen were at othe 8 oe weet are 8 oe at vet ert, wena aT GAH, wT TUat
Say Cae fae ae ae at Ta wa a en ae eA aH ON wea EE ae a
my &.
4
f. 11) The State Development Bank may, subject to such directions or instructions as may be
issued hy the Reserve Bank of India or the National Bank from time io time, and with the previous
sanction of the State Government issue bonds. which shall be in the form of promissory notes
repayable on the expiry of such period or periods from the date of issue thereof as may be approved
by the Reserve Bank of India or the National Bank:
Provided that the State Development Bank may repay the amount due under the bonds at any
time befnre the period or periods so fixed, after issuing a notice in such manner as it may prescribe
us the hand holders,
ia (21 The State Development Bank may raise funds—
ry) . hy way of loans or deposits from’ the Centrat Government ¢ ora State ‘Government
the National Bank. the Reserve Bank of India or such after fi financial mstitutions
_ag maybe approved by the Trustee; . oo.
(h) by way of deposits from the public
7 )The Registra shal be the Trustee for the purpose of securing 2 fulGlment of the > obligations
of the State Development Bank to its debenture-holders and for, fulfilment. of the obligations relating
ta the fuss raised under section 6 as also for the purpase 0 of sectida 20°
np Y a ay So is 4 “t oer
a u
2} The Trustee shatl be a Corporation sole ‘by th the name of the Trustee for the purpose of
debentures and as-such shall have perpetual succession and a common seal and in his corporate name
shall sue and be syed.
mote . on we . a8 : wey ore
- (3) The powers and functions of the Trustee shall be governed by the: instrument of trust
executed between the State Development Bank and | the Trustee, as N modified from time to time by
natal agreement oR Tet REPEPNVE OTR OBE PTET URES.
(4) The securities furnished in favour of the District Development: Bik and other securities and
assets transferred or deemed to have been transferred under the provisions of section 20 to the State -
Development Bank shall vest in the Trustee from the date of such furnishing or transfer.
( 5} The debenture holders shail have a floating charge ‘on. ali such secutities and assets, on the
ainounts paid uader such securities and remaining with'the State Development Bank or with the
Trustee and on the other properties of the State Development Bank. .
%. “) ‘The principal of, and the interest on, debentures issued under section 5.or bonds issued
ur toans raised under section 6, to such maxtmum amount as may be fixed by the State Government
from time-4o-time-and-subjéet-to such-conditions- as it may deem fit to impose, shall carry the
guarantee of the State Government ;
“Q rid a chiverinend riiay. after cotiéulting the State Development Bank and the Trustee.
by notification, in the Offigie?. Gazette and by notice ceblished for not less than fourteen days in such
of the principal newspapers, in and outside the State as it may select, discontinue the guarantee given
under sub-section (1). of restrict the maximum amount thereof, or modify the conditions subject to
which it is given with effect from a date specified in such notification or notice not being earlier than
six calendar months from the date of the first publication of the notification in the Gazette.
3
Issue of Bonds and
Raising of Loans
and Deposits.
Appointment and
Powers of Trusice.
oT Nar oS
(3) TO aime 9, sei Tema St ofrecer Pelee at art ta wel 9 a, fies senha
a ET ae a eS, Poet at wt surafee fire arnt, yer a, aenferfa, Prey a goraem an fae
Ter Deer Wale Tage ay soeleia fen WET,
(¥) STURT (2) & ae sfirgfae ate went, fakery on scien, sa ate fre ae
al Vat ans, fre a TTT wera eter & Pritts fare feeder gra aa St ag sraegda we fed
ot year 3 yore Tet sre,
sraryia Pitts 8. (8) Ta BER, Ty fares Sa va A al ng a ary yo H seal Hh eis stata wt TE
wferaferst oe weg farara Ser oth fare ferare Sat gra fee ne Sunt Gt GO wEeH, or Vite F
at raat & farrige at on 3 OH arr TET A HT are!) Brat a Ot we} ward we
. eae Fae ere Ba Frame tit al we ae BH SH ae es eR,
wt a,
ee (9) A ea re ae ean et Wie Lee aT teed
sey ts
art fhettiercer ee, (a) fee Fete ah fig Be fee Ae ear si o fae wh vero.
; (ee) se ae vet 6 tiers yeaa wr fee ant at ar at me
we aa Ci ey el a wel wa & fore,
‘eo Fre fa (Ron ee) ee eh spor at ark & fre wt Na fl ce : | a wrpfire faroha a apr wait & yeh: a sie: Tee Cat STE
Ce AE aT
_ (aia) agit fe gu cues de we ok ah A ad eft apf Ae
rate Be ree Fe wee rr een Fare a wt eT arr arerenal i Satter
% fore eed BY ame sat H fery; .
‘ Can) ater arn armen tt ora wr % foe,
(2) 3a fern fe sth fren frera Sem at fats F det ei Bo afery wt oth Pf Oat Afar
FR at et a arty ent are wt ere Bra seein at
(9) a fr Fe A wer ae
Faq ay saftey aa Bt TAT. .
ra neva&® et wea fewra fe, ar pt oy, en fe ee een vera a fety ye are ie sewed 8 ete a flatware wok: at
wa feere fe (8), FeReat aera a est ot arora at oa peta wa Mt Fre wet fry aA nite, - (B) Fe eS ae 8 8 eee fete a oe al ae COON as Rage
(1) frre on fore fee or aac & cape ar FR fda or aay Fifer ard ate 28 files & firq ste faa wet & fee,
a!
C2) me ere Re fe FE ray Re 8 ae A
(31 In case where the maximum amount af the guarantee is to be restricted or any of the conditions subject to which it is given. is to bé modified, the notice shall set forth with sufficient clarity. the scape and effect of the restriction or modification, as the case may be.
(4) Any discontinuance, restriction of modification notified under sub-section (2) shalt not effect in any way the guarantee carried by any debentures issued prior to the date on which such
Wisconlinutnee restriction or modification takes effect.
9. (1 The State Government may constitute a Guarantee Fund on such terms and conditions
. as it may deem fit for the purpose of meeting. lasses that tay arise.on account of loans advanced by the State Development Bank and District Banks on the securities furnished in favour of the state
Development Bank or transfered under the provisions of section 20° wot being fully recovered due io suche ircumstances as may be specified in the Rules. +
(2) The State Development Bank ‘and District Banks shall contribute to ‘Guarantee Fund at such
rates as may be prescribed.
“+ GR) The Fund shalt be mainiained and wliliged in:such maiiner a may be presi
10. (1) The-State Development B Bank shall constitute a. Credit Stabilization Fund for the
paarpene! a
4 . esabling il to.discharge its obligations in the event. of postponement of repayment
of loans or of instalments of loans: or
tii) meeting the obligations of Sinking Fund arising as a consequence of total or partial
"* failure of crops on account of dréight or any other natural calaznity: or
. tH) enabling it to discharge its obligations j in the event of default by. a member due to
loss caused by a natural calamity in products of Rural and Cottage Industries as
described by the National Bank.
éivii any other purpose as determined by the Registrar.
(2) The State Development Bank and the District Development Banks shall contribute to the - Fund at such rates and maintain and utilise it in such manner as may. be determined by the Registrar.
(31 The State Development Bank may receive contributions io the Fund made from time to
time from any person or the Central Government and the State Government. .
It. The State Development Bank shali, subject to the approval of the Trustee, make regulations _
mit inconsistent with the provisiens of this Chapter—
- 4a). for fixing the period of debentures. or bonds or déposits and the rate of interest
payable therean: . es
{by for calling in debentures or bonds after giving notice to debenture or bond hokder,
as the case may he:
(c} for the issue of new debenture or bonds in place of debentures or bonds damaged
or destroyed and fixing the fee for such issue;
Guarantee Fund.
Power of State
Develepmeat
‘Bank to make
Veguiations for the
purpese of this.
Chapter.
(a)
(2)
fear oy deed & we at a fies one al ee el fede ot sweat & sat
ara wt Hf dohafia wet & fog, ah
AMT: Fa steer & sade a aralfan ae a few,
Fae 3—TM
aad aie, 22. Fa afore ania wary aq frertt & arenes Tea EY, eer Frere Fe sh fren Frere
_ ti Preteen seat & fore ser A fie wT
&
(ees) pth afte omer fra,
aa are wats, Bro fe The es @ yar re soca
eater: ora & vate fire phe ate utr fre weer” @ afte & ate er
ani, afarain a fivoreary fare sh athe amof Ferara 8 ere frend € afk 7 feet Prafefiqn
ee
(a)
“@ .
(4)
(S
(3)
AB)
-@
(a)
(3)
(2)
(3)
apc watt fre a ge Pate wget ate ay see fre ae
serene, ert ar fae 3 fara ail fares starts ergy, faxes Canam) Ten
en afta fox i (ET an Stee) Ht trent atte sea dertt o afrater aire
Fail Fo, ; a
cats tam 4 8 fred eee ar en at pater ae ade fist,
feed 95 Fe fare are free ras Pe Pres (oe te dee*rz)
ft; a
aft veto fz avin end a arch fe ae af 8, Tg hat
oer rare, sat a ara seme & saan TER (Fee) Mt ae! A ae GAC BzTA
OB Va FT HT THA SF SAH HAT;
atu atear oth 32 et que: |
gfe Be tet fee wt aa He, aM Ee at See ATE ETT
SaR CH FIR BCT; 3
am af
FAP TEM, WY We wT ye Te;
ye ott aatedl ar er-de, Gar Te;
we Fai HI HT;
a wr Fale meta A fred of setts & fore Ber So, fin Bet sth fae
et a ea oth Tret WH;
5
al) far converting one class of debentures or bonds into another class of debentures or
bonds hearing a dilferent rate of interest; and
(c) gencrally for carrying out the provisions of this Chapter.
CHAPTER-ITI~—LOANS
12. Subject to Rules made under this Act, it shall be competent for the State Development Bank
nd District Development Banks to Advance loans for the following purposes;
ti} agricultural and rural development; and og,
ti} such other purposes, for which refinanée facilities are available from the National
Bank.
Explanation :=-For the purpose of this section “Agricultural and Rural Development
® . purposes" means any work, construction or activity which aids. agricultural and
tural development and in particular includes the following --—-
(a) construction and repair of wells including tubewells, borewells and dug -cum-
—_ borewells, tanks and other works for storage, supply or distribution of water for
the Puttposes of agriculture’ or for se eof met and cattle etiplayed is in agricuiuire;
‘ : th) - © renewal or reconstruction of any y of the foregoing work or "eration therein of
addition thereto: a
{c) preparation of land for irrigation including Command Area Development;
id) Deainage, reclamation. from tiver or other -waters, or protection from floods or
from erosion or other damage by water, of land used for agricultural Purposes
or waste land which is culturable;
(c} bunding and similar improvements;
it} reclamation, clearance and enclosure or permanent improvement of land for
agricultural purposes;
(th horticulture:
th) pisciculture:
ti) pouttry. animal hushandry or dairy farming;
(ii. . sheep and goat rearing. piggery;
(k) purchase of plough-bultocks:
(lh purchase and repair of oil engines, pumping sets, and electrical motors for any
of the purposes mentioned in this section;
5
Power to Ad-
vance Laans.
{%)
(3)
(™)
(4)
()
(&)
(4)
mi)
(3)
CF)
(a)
(4%)
(a)
(a)
atari, soatuit sik neta = m7;
deed, a oer feer a fret ea fe ceed a ee at TAH AEM;
“ apfia BY ferdty went at Yer feeret Tat sea am A gig;
Para waa COM Wawa), Ty Wel sh fect st wan oe Ble sree wieHTA
a fore Het an -aesmte, eee she Ptah;
TH 4A, Fe WAR SH fy AAT FI ;
gfe et oh wa et er foe a
para Te, aa % whe gern free sina te wr eT Ht
agent, Fats sarin gal wer gH (BH) a
af wind,
ah ot ting ae tT WERE, frat siela wetter ierm,
Thery abt vam of tae Fra ath ta fixareendt 8 dafed seeif ath aviat
faa seria wepafes afsai si $a sa;
pie ara & fae tel gia,
aah fea ae at eT,
Patras (ee kz) ee ae SA ee tse
ty se: <
FEN ate meet St eT:
(m2) Bear St STE, a fn eg ers bn Ae
(at) farga at gee ened a free wen stk oie ferepetenes;
Gry) ai & i wer Biel ar free aft seh,
(3-2) 3 vin oe a eT,
(Bt) re oS rm a,
Tl RGA;
(m2) a a sfrrot & caret a wer Yih frre Ae & ate ger settee fara am, arreafa
at en A ars om fatera sf erm.
ie dal
{m)
(ni
(i)
iy
4q)
itt
(s}
Ww
yu)
“ave.
- tw)
{x}
- (4)
(ei
(h-1)
{u-1)
{d-1)
fe-1
uh
Plantation including tree crops;
| Weainsportation, satage: if¢ludingf Faral warétiotises, podowhig; and culd-storage,
“and marketing of agricultural, cottage and industrial products, and. acquisition of
purchase of tools, implements. machinery:
Purchase and repair of tractors or powertillers or any other agricultural
machinery;
increase of the productive capacity of land by addition to it of special variety
of sail;
constuction, repair and reconstrucuion of permanent farm-houses, cattle-sheds
and sheds for processing.of agricultural produce at any stage: ,
. purchase of machinery for crushing sugarcane. manufacturing Gur;
purchase of machinery for harvesting and processing of agricultural produce;
, apiculture. sericullure including production of silk,
toa
agro-forestry;
implements and machineries including animal-driven carts in connection with
. such activities:
inarket yards for agricultural produce;
establishment of -bio-gas plant:
working capital or production credit to borrowers of investment credit: .
setling up of cotlage arid village industries;
purchase of shares in Conoperatiwe sugar factory, spinning mill 0 or any agro-
processing industry:
faying of transmission lines of electricity, and rural electrification;
development and use of non-traditional sources of energy;
establishment of milk-chilling plant.
acquisition including acquisition of plot. construction, reconstruction or repair of
rural dwelling houses; :
all such other activitics as are incidental or ancillary to the above mentioned
purposes or as may be approved by the Board of the State Land Development
Bank in consultation with the Refinancing Agencies. in case of any disagreement
the Board's decision shall be final.".
6
tart ie afr 23. (2) werent amend Sranet afufian, go (HAI yo TT R8eR) A atahte feet ate
Fk or PT sp re ey a, ear a A aot etre ere Tey ferare ee a fren fire ee or Freiferae 71
TN.
(#)
(@)
(71)
- ~
RH,
(yon
Wiel. a bh
sere tag fen on BT
meqyen Beet Braga afubrem, ego (saw vo TT wen) BW mehr agiga
ay wears Braga; 1
apart afaa afufrra, coe (¢c08 HT a, 0) tae tg at ie
ferg, Bam sie wate
Maye TS FRE UR, RAUL cris (ut) & anh erie a
=a; a> q
sere i afi in we wort a ay 7
fanfia Frat;
sore ena ara ARR, 09 (RHF we HH gen) or PET
are Bengal, Fah eae Ara mn Ft TAN GT ge Ff een #7
sid sa CRT), ste Figs Hew. Nd
ces 8 fon arene re 9 fe fe wee Ff
sofahrd F sosifien &.
(2) arena ge fered fae a arate fart arn AF WA Te oF, ren are a, fH ge
ofa & fre weer wi oe sa sin A or ow seme sig wT HA,
meen wie yy, sg Paar dae on aid fren faare at, afore od apts & sets we EE, fo
Wer ani far. sed or Fare en foal Frere hace & ws 9 afnfea St
aunt & fee tu, (0) Reman Aer aa aafufrom, ceo (ORM Yo TH (eet) A alae. fred ote
way GA We oF, Teg fara Se aa fen ferare ee ou Hoy aaa fea forge BTU ape AAA
feared a ane ot freafeter wingital Fe frat ot vig et eten at ee
(WH),
(a)
(ita)
RD
(aay
(BE).
" (afa)
(3118)
(a)
aur,
Prat:
STEAA (OERATT):;
arent seam:
wfay;
veayia, aint
a A.
13.14) Notwihstanding anything contained in the Madhya Pradesh Co-operative Societies Act.
1960 (No. 17 of 1961) loans for the purposes mentioned in section [2 may be granted by the State
Develupinent Bank or a District Development Bank to the following :—
{ah
iby
icy
eh
uh,
.«
dy"
“a Sodiety registered under the Madhya Pradesh Society ‘
a Co-operative Society registered under the Madhya Pradesh Co-operative Soci¢lics
Act. 1960 (No. 17 of 1961): or
ain individual competent to contract under section TI of the Indian Contract Act,
1872 (No. 11 of 1872): or
a public trust registered under the Madhya Pradesh Public Trusts Act, 1951
(No 30 of 1951 i or
utogat
pboowd
: a
vase may be, under any law for the lime being i in force; ts Sy
1973 (Nw: 44 of 1973) as may be approved by the Stale’ Gove men in hs be behalf ,
by generat of special urdercor =” a
a minor acting through a puardian appointed by the Caurt « ie
Provided that the loan shall he grafted to thase who are members of the State
+ 2: Development Bapk.or Ristrict Development Bank:as:proyidediin the byeslaws.
on Notwithstanding anything contained in any law for the time being in force, District
Development Banks may-grant loans i .any member of a joint holding. in| fang, only to the. extent of
his share therein. -
-
Ub 1 The Stale Developmei Bank ora District Development Bank shall admit. -any company or
corporalionor hady of persons as member subject to the-priar approval of the Registrar.
15. €F) Now ithstanding anything contained in the Madhya Pradesh Co-operative Societies Act,
1960-(Ne. 17 of 1961} the State Development-Bank or District Development ‘Banks may accept any
_ of the following securities (or grant of Joans on the basis of principles of valuation approved by the
Registrar —
(i)
ii
(ii)
tiv)
{v)}
ivt)
_(xti}
titi)
(ix?
Mortgage:
Pledge,
Hypothecation: .
— Lien,
Government ‘Guarantee;
Surety
Bond:
Guarantee: and.
Promissory Note.
karan ‘Adkiniyam, .
Who can he
Granted loansand
advances.
i . Firm, a 5 Company or any ather body corporate established or constituted as the
Regulation‘ of -
certain categories
~ of membership.
Security for loans.
tum & faq
aaey maT
Se a ET
ary. wfrae
Tet H wets A
“Pryereay ¥n.
(2) 74 fara Se a fen feng Se gro fey 1 wT SU ae TS HRA TAS BMI AH
ara wae wd, das A safes feo a at om a ae tel at soerey ay soaRy & afatte,
yt Bt eer F aR we Aye ary ehh.
(3) sare 8A are 8 ser ah saw eet age 7 EF at cen A oe yy or Wey 2B,
tat aff 8 Set fe fags at ary saet ara eT.
26. Wa UR) tz H fafafde waht FS finch wate th fe sere bq SE rae fore wee fF,
a seer Froere. wet tht a, BS wafer Bre ot see Frat ret few Feat
| wy, are rer er Fe Frees re 43 3 Re tet A RT
fact wets & fy sere 3A feng Saat satehiedl SF andte wage cafe a ated er fee ven
aig fetsa sree, fare gra ye atfefie & wris 8 od or wae ware, fart afew) ar ved shooter
wafes wt AEA 8, aft & frsra & ford seed faite erat at rain eet & ward or see fare
ef ay ere mtr ee Fr ae rie, Fan
aH Ferme a
Part fren farsa
See tut &
aa grr satin
wn.
(®) ae fe afin. art ar ae vite fares fete ean fem 7H €, wre 62 a alia .
a8 atc an fer rt,
“com ag Fis Fe aa Bi ante ad he wh, wate, tea ge ft at a Fee erat % fee Sra amet a a aT mT ah
(@ we ore fe af afk
(3) =m Fe pA te fee aig ye ob
wi a, at Wim a, Hairy &.
te (x) vet er mas, hen Pre aw & freee fg ander sr, Ter rar
Se orn Fu Pies fafafte anfrand & ae ta wes 9, a fafa Gear ay woe-wa He tien SUT
fe san. fee wing & ey Fa ng sine a ener wea faeciey Age & she ae fie ae see
arefare wek Ft att ae fis ae fren fer das oe F del afi 22 at aftea &.
(2) wear wemn fenett fates siafe fine ara & via gu wh, oat feet sia 4 eI wafs
% Mae A ToT (0) & aia ag wage fen ar glee &, aei ara zo % sade ores TEA
BY ae wt wees ary are aii cere aafira Fare ferns as ar we a a fee Tet as
Seat ee a eta fer fe eee Ps se Fre aK Fe
arr wa S ae viayfa 3 altate @.
(3) ae st mais, st seen (2) & ae fron qoe-wy oor tom Pest ta wees SE
te ae ee %, Tt fhe F, Be eae (2) & eg aw aE Be Teche eve Her, tke
(Reko OF A wy) & ant ot erate ee.
(%) Tare SH ae TH, St soe (2) H ats fea my Wawa H MT AL ST Tae,
tat din & anaes eth ot faiea si aa,
8
i et el o ah
=
i ‘
i i
}
4
(21 All uans advanced by and alt amounts payable 10 of recoverable by the State Developoment
Rank or District Development Banks shall. in case of default of payment, b¢ recoverable as arrears
af Land revenue in addition to other remedies available to them.
(34 Tn case a loan and interest thereon is not recovered from the borruwer, it shall be recoverable
fromthe surely or guarantor in such mannner as may be prescribed.
fo. When an application for a loan is made for any of the purposes specified in section 12. +t
shall be ispused af in such manner, by such authority and withia such time, as may be © prescribed
"17. A written order bi the "bee Development Bank ar a Disirict Development Bank or r by the
pertais ‘or Cominittces authorised linder’ its bye-laws to make loars for all be: any of the purposes
specified in section 12, advancing cither. before or after the commencement. of this Act, a loan to or
with the consent of a person wentioned therein, for the purpose of carrying gut the work specified -
hein forthe development: of the land or for the ageieultural and rural. development -parposes. specified
therein, shall fae Abe purposes. of this Act, be: contlusive of the following matlersi<— pot eed
~. that the work described or the purpose: for: which the-loan: is granted: js an.
:. Agricultural and Rurat Development purpose withia the meaning of section 12;--.
Le ee
(hy that the p person had on the date of. the order a rig to 0 make such an improvement
~ or incur expenditure for Aerie and Rural Developmen purposes. as the case
amity be;
re) that the: improvement is one benefiting the land i ied; arid,
(dis that the Agricultura and Rural Developmen purpose. concerns ¢ the land offered | in
“security, or any part thereat as may he relevant.
IR, ( 1) Every person who applies for a loan from a District Development Bank shall give
declaration on an affidavit in such form as may bé prescribed before an officer specified by the State
Development Baak in this behalf that the movable or immovable property’ fuimished as security for
the loan is free from encumbrances and that he is in actual possession thereof. and. that he has the
right {o Furnish such security in favour of the District Development Bank, . ne
mM Notwithstanding anything contained in any law for the time being i in force, where an affidavit
under sub-section (1) in respect, of any movable or immovable properly i is false. or ‘defective. the
Disteict Development Bank shall, subject to the provisions of section 20, have a first’ charge on all
other movable and immovable properties of the applicant, and all such properties shall be deemed
to have een included in the security furnished by the applicant for the loan ‘granted to him by the
District Developinent Bank.
(3) Any person. who makes a false affidavit under sub-section 2 (1) or makes any statement which
Disposal al
application far
foan.
Order granting
lean conchusire of
Application for
‘join ‘feom a
District
Development
Bank to he
supported by
affidavit,
| js false in any such affidavit shall, in addition to action under sub-section @), be punishable also under ,
she Indian Penal Code, 1860 (45 of 1860) .
(4) The amount of loan that may be sanctioned on the basis of an affidavit ‘made under sub-
section (1) shall be subject to such fimit as may be prescribed.
8
ver ez _ atten a. (x) 1 free Sar a ise Fen Frm as 3 aH <h ag rele 3 aes oa fave ta
ay, aff fara sur afutr, 663 (2603 TI A. 08) TH FAH BUR haa, Ree (1CC¥ HI A.
g2) Ti wea wan feat ora fafa & ais feat Ba ger G, st aenfeafa, Tey free Fa at fa
fara tar & ye F vials ea ora Horan ay fear 7a f, IP HA aa aH & frst vt wea
R yfaeear ora eV.
Ca) mere vege faveh Pathe statehe ered ara Be wae a, Ha rere Ser aT vet fren FeraTa
da & ve FS od vig a, aa Bafa at feet gat a there or a Ta Ten A sor Te ET
Wa PSA wee A, att Bet TH 4, cat fafien Pera sy, apr 3 wane # Ween, tet geet ay ee
ney we 3a oye fe, HUT aE re she wee at Pre oer rs
fe a otecfe a fours Ce
vio St wa
frara €5 aT
warn ath ai
wernt Pita a.
fi ts fara ‘ferq sure fore
(y seate ete dim: L848 Crt 20 Wh ttt) La RE ed a fate #
sl oh as 08 et ees Be 96 1 HE ‘ad uftrafa frst tet fh
“aan F-€, Porat feet thet ree ar ae fee &, ael seen on areari Ua fet a aif OB
aa, athe sth ren ere ser tigen at sates ert 7 flee aA A ee frre Mis ar Foren Frere
ae & after wales sel WA ate ae itor oh ae fs wr atk sad Hee fg aT FT
a a fe re & se sts en.
zo, Wate sire aftr, 3222 (2602 HS. 1) 3 ae fre ae a eT Ft Fen
frame fe & wa 33 oa 8.78 eet aE afi ah wa ached a siafta aaah Eda a
auficat car wart Ra Te a aiaftel fire aa at aha BBA Frones a sive at atte a, Fat
ot Reece a Qe are at rae Fs wh si of oe
8. sui fh fre eee 9 yf ee fd AP a aa 8 Pe
a a frat Gal A fears Pret ft ge feng Pet BB sais a, fare day 4 fren faare fa
‘wh ag vette Bran ¢ fis ae ape yf a ea TT tam ae Ee ae afin waa FG, TER Hy fo
4, dae aa apa: a eM: Bo GS fem oe A re TH, a fe
yi ve afia. ae wen SE eof fae Rene de et cen] ae ser wy, frwar sei A
Yun & fry fan az, aa TH eT Bike, wer He BT eH eT.
“aa, fasta:
nad
aw
ihitildieeee
nace
en
the -Districl* Development Bank: oe weg : .
1¥. 41) Any amount payable under a security furnished in favour of the Statc Development Bank
ovat Diswict Development Bank shall have priority aver any claim of the Government arising from
it loan, under the Land Improvement Loans Act. 1883 (XIX of 1883) or the Agriculturisis Loans Act,
I8R4 (X11 ol 1884) or under any other law for the time being in force, granted after the securily is
furnishyd in favour of the State Development Bank or a District Development Bank, as the case
anay be.
i2) Nolwithstnading anything contained in any law for the time being in force, a security
furnished in davour of the State Development Bank or a District Development Bank shall take
Juecedence over any utiachment or morgage or charge aver the propertics, where, after publication
afanotice in such form and manner as may be prescribed, the claim or inierest under such attachment
“at morigage or charge has not been notified to thé State. Development: Bank or. the District
Development Bank as the case may, be within the. tirne specified i in the said notice.
3} Newithtaniding anything contained in the “Madhya Pradesh Land’ ‘Revenue Code. 1959
Ne 20 al 19899 i br iiny other law for ‘the time being i in force, ‘whiere security furnished in favour
of i District Development’ Bank i is in respect of land in which an occupa ¥ tenant. has ‘aii interest
‘the murlgagesor hypothecation may hé agains the security af sich iditerest; and the rights of the State
Dev ‘clapmient Bank or Disjrict Development f Bank shall not be affected by the failure.of the. occupancy
“tetiant fh cemph with thie requirements of the said Code, and the sale ar the laid and his interest
there under the said Code shall be subject to the prior charge of the Staié Developmen Bank or
; 0 Notwithstanding anything contained i in the » Transfer of Property Act, 1882 (IV of 1882), a
sevirity furnished or déeméd td have heen furnished in favour‘of: andl att dther' asseis ttansterred or
deemed tu have been transferred to a District Development Bank shail) with effect-from the date of
stich (urnishing or transfer or with effect from the date of.such execution or transfer, as the case may
bende luken io have been ttaasterred-by such-District: ‘Development: ‘Banks tothe State Development —
Bank,
i ee Hits va nee a bee ste eh 4 wee ewer alte?
“TE Where at District Development Bank has granted 4 foan for i improventient ‘of any ‘land silualed
an qiy aed or ayeas covered by any specific programme. of Agricultural Development to a person
appearing to the District Development Bank tu have title 10 the said land or to be in Jawful possession
theree!. and the money has been either in whole or in part utilised for such improvement, any person
acquiring ule to such lard an any ground whatsoever, shail’ be liable to repay to the District
Development Bank so much of the loan as has been utilised for the i improvement of the land together
Wilh imerest Lherean. x
22. Omitted.
Petority of claims
aver securities.
Transfer and
Vesting efsecurily
with State
Developmicnt
Bank.
Money horrewed
for Development”
of Land.
Seber
aa
aaa ae fever
stay x—saa wr Hey sik faa
a3. (2) af wea fara Se or fel fre fare Sa & vg 9 a oe fat vfryfa Baum
aa @ie fea wy ed faves oT ANE TT Te aTdte B, farerant ag vires eT rare, UH ATE Saale
qa fora aren teen &, 9 fare Sar fren fears Sx, saM TIT feel aI TET & alates,
Thren wt catia at ofr wt soa an arn &, fart whiff €, fier oni ga we wet
waa ait at sim cate Ht é, Ber ah Fee or Ret eee a a AT NS
fey FARA Fl THT.
(2) ten area tre BF oy, TER, He few afte, ¢ez0 (Rk3o FG. 2) A MTA WAR
firth fafa 8. stale foot are H ert Ee +, Re arte ato Beh Ses oT SR! oT
mr aren aft fered eet th fer Sars &
(3) TART, ‘atta 2 vaitna surer a ds ste gra, we ten oh 6 TOETA (2)
4 fade soa a ara SIA HE wre aiahtite finareMa eM H fre avsfise welt eH a ser
am St Tes BER A A waa BS we yf weaR Gel wel & fey senet a aL HF Tl
TOS Pee ee ee
ep Rie ba Oe
. neal
ar fare aT rn aren,
es fas & at eee Ik fama % afta 8 Gye
ey » ey acd a dst fel ang at
m widtese 8 afree 3 var at wT.
(a) 2a era a oy safer afer, test (Root aa 2) a ale feet an
Bit FT oF, BA oy a Sere Atel BH anee Fe stexta Td EU wishesa GB Bz
amen ain wy afren afer & sae. agar ta. ag a stars fen ar Fi
*
em a fesra ser ai, SMteTSS GT sea Sm wt eh Fe ey STE Fm
Feewre: Sa HY SRT aX RM TET,
© (a) we we a a ome fin ce ae fra ae eB aa
(TH) safe atte seat Excerpt shown. Open the full act in Lexace.