Distraint and sale

44 T. Distraint and sale. –

1. (1) if any installment payable under mortgage executed in favour of a Land Development Bank of any part of such installment has remained unpaid for more than one month from the date on which it fell due, the managing committee of such a bank or the Board may, in addition to any other remedy available to the bank, apply to the Registrar for the recovery of such installment of part there of by distraint and sale the produce of the mortgaged land, including the standing crops thereon, and any other movable property of the default in the manner prescribed. On receipt of such application the registrar may, after giving registered notice to the mortgagor notwithstanding anything contained in the Transfer of Property Act. 1882 (4 of 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 other than the implements mortgaged to the Land Development Bank, and such cattle of the defaulter as may, in the opinion of the Registrar, 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 be made after the expiry of twelve months from the date on which the installment fell due.
2. (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 cost of the sale.