Mortgages executed by Karta of Joint Hindu Families

(1) Notwithstanding anything contained in any law for the time being in force, mortgages executed after the commencement of this Act, by the Karta of a Joint Hindu Family in favour of a bank for securing financial assistance for an agricultural purpose shall be binding on every members of such Joint Hindu Family. (2) Where a mortgage executed in favour of a bank is called in question on the ground it was executed by Karta of a joint Hindu Family for a purpose not binding on the members (whether such members have attained majority or not) thereof, the burden of proving the same shall be on the party alleging it.