Money borrowed for Development of Land

Where a District Development Bank has granted a loan for improvement of any land situated in any area or areas covered by any specific programme of Agricultural Development to a person appearing to the District Development Bank to have title to the said land or to be in lawful possession thereof and the money has been either in whole or in part utilised for such improvement, any person acquiring title to such land on any ground whatsoever, shall be liable to repay to the District Development Bank so much of the loan as has been utilised for the improvement of the land together with interest thereon.