GCSA 139 — Recovery of loans on Certificates by Registrar.

Gujarat Co-operative Societies Act, 1961

Statutory text

(1) Notwithstanding anything contained in section 96 and 103 on an application made by a ※[Land 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 amount stated therein to be due as arrears.

(2) A certificate by the Registrar under sub-section (10 shall be final and conclusive as to the arrears due, The Arrears stated to be due therein shall be recoverable according to the law time being in force for the recovery of arrears of land revenue.

(3) It shall be lawful for the Collector to take precautionary measures authorized by sections 140 to 144 of the Land Revenue Code, until the arrears due to the [Land Development Bank] together with interest and any incidental charges incurred in the recovery of such arrears, are paid or security for such arrears is furnished to the satisfaction of the Registrar.

(4) It shall be competent for the Registrar or a person authorized by him to direct conditional attachment of the property of the mortgagor until the arrears due to the ※[Land Development Bank] together with interest and any incidental charges incurred in the recovery of such arrears, are paid or security for payment of such arrears is furnished to the satisfaction of the Registrar and the provisions of section 100 shall apply mutatis mutandis to conditional attachment of any property made or to be made under this section.

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