Deposit of money due on loan with Collector or Mamlatdar.

1. (1) The Mamlatdar or

Collector may, at any time, on application of the borrower, after due notice to the money lender, direct that the money of any decree passed against him, whether before or after the date of coming into force of this Act, in respect of a loan, shall be paid in such number of installments

1. (2) (a) Where a money lender refuses to accept the whole or any portion of the money due in

1. (b) Where any such application is made, the Mamlatdar or Collector, as the case may be, may,

after due inquiry pass an order recording full or part satisfaction of the loan, as the case may be.