section 53
Special provisions for security furnished by Karta of a Hindu Undivided Family.
The Madhya Pradesh Sahakari Krishi Aur Gramin Vikas Bank Adhiniyam, 1999Finance199963 sections
Statutory text
Notwithstanding anything contained in any law for the time being in force—
- (i) the Security furnished in respect of loans by the State Development Bank or a District Development Bank either before or after commencement of this Act by the Karta of a Hindu Undivided Family for improvement of agricultural land or for other purposes enumerated in this Act, shall be binding on every member of such Hindu Undivided Family:
- (ii) Where a security furnished is called in question the burden of proof shall be on the objector.
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