Creation of charge on land

Notwithstanding anything in any other law for the time being in force, where a financing agency or other selected agency, as the case may be, advances a loan or a special loan or such loan is deemed to have been so advanced, such loan or special loan shall, subject to any claim of the Government in respect of land revenue have a first charge on the land included in the scheme for systematic land development for the purpose of recovery of such loans and where the aforesaid agency is the Co-operative Agricultural Development Bank, the loan amount may be recoverable in the manner provided by sections 101 to 106 of the Andhra Pradesh Co-operative Societies Act, 1964 (Act 7 of 1964).