Order granting loan conclusive of certain matters

44 Q. Order granting loan conclusive of certain matters. – Written order by the Land Development Bank, or person o managing committees authorised by this Chapter or under the bye-laws of the Bank loans for all or any of the purposes specified in section 44-B granting either before or after the commencement of the Bihar Cooperative Societies (Amendment) Ordinance, 1975, a loan to or with the consent of a person mentioned therein for the benefit of the land or for the productive purpose specified therein, shall be conclusive of the following matters namely :-

1. (a) that the work described or the purpose for which the loan is granted, is an improvement or productive purpose, as the case may be, within the meaning of section 44-B;
2. (b) that the person had on date of the order a right to make such productive purpose, as the case may be; and
3. (c) that the improvement is one benefiting the land specified and the productive purpose concerns the land offered as security or any part thereof as may be relevant.