APCOS Act 103अध्याय XIII · [Financing Banks/Primary Agricultural Co-Operative Societies]

धारा 103 · Distraint and sale

(1)

If any instalment payable under [a mortgage created in favour of] [Substituted by Andhra Pradesh Act No. 2 of 1999. ] [Financing Bank/Primary Agricultural Co-operative Society] [Substituted by Andhra Pradesh Act No. 1 of 1987.] or any part of such instalment has remained unpaid for more than one month from the date on which it fell due, the committee, may in addition to any other remedy available to the Bank apply to the Registrar or such other person on whom the power of the Registrar to recover any amount due by attachment and sale of property has been conferred by the Government under Section 3 for the recovery of such instalment or part thereof by distraint and sale of the produce of the mortgaged land including the standing crops thereon and any other movable property of the defaulter. On receipt of such application, the Registrar or such other person may notwithstanding anything in the Transfer of Property Act, 1882, direct distraint and sale of such produce and if necessary, also of such other movable property of the defaulter :Provided that such implements of husbandry and such cattle of the defaulter as may in the opinion of the Registrar or such other person, be necessary to enable the defaulter to earn his livelihood as an agriculturist shall not be liable for such distraint and sale :Provided further that no such distraint shall made after the expiration of [twenty four months] [Substituted by Andhra Pradesh Act No. 19 of 1976.] from the date on which the instalment fell due.

(2)

The value of the property distrained shall be, as far as may be, equal to the amount due and the expenses of the distraint and the costs of the sale.

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