Public notice for entertaining objection

44 O. Public notice for entertaining objection. –

1. (1) When an application for a loan is made for any of the purposes mentioned in section 44- B, a public notice shall be given of the application in such manner and form as may be prescribed, calling upon all persons interested to make their objections to the loan, if any, before the date specified therein. The person by whom such public notice shall be given and the manner in which the objection shall be disposed of by him shall be such as may be prescribed. Copies of such public notice shall also be sent separately to such persons and within such time as may be prescribed,
2. (2) The person empowered to give notice under sub-section
3. (1) shall consider every objection made under that sub-section and pass an order in writing either upholding or overruling it. When the objections is overruled, he shall recommend the application to the Land Development Bank for its consideration: Provided that when the question raised by an objection is, in the opinion of such person, one of such a nature that it cannot be satisfactorily decided except by a Civil Court, he shall postpone the consideration of the application until the question has been so decided.
4. (3) A notice under sub-section
5. (1) published in the manner prescribed, shall for the purpose of this Act, be deemed to be proper notice to all persons having or offered as security for the loan,
6. (4) Where an application is recommended under sub-section
7. (2) the Land Development Bank shall, in accordance with the rule made by it in this behalf, consider such applicati0n for the purpose of making the loan, 5. Where no objection under sub-section
8. (1) has been made the question at issue shall be decided by the person empowered to consider objections in such manner as he may deem proper and no person shall have any claim what-soever including any claim arising out of a mortgage of any description against the property of the loanee for which the loan applied for is sanctioned under the provisions of this Chapter, until such time as the loan together with interest thereon or any other dues arising out of the loan are paid in full.