Recovery of certain dues as arrears of land revenue.

(1) Where any person is a party- (a) to any agreement relating to a loan, advance or grant given to him or relating to credit in respect of, or relating to hire-purchase of, goods sold to him by the State Government, the Corporation or, as the case may be, the Government Company by way of financial assistance, or (b) to any agreement relating to a loan, advance or grant given to him of relating to credit in respect of, or relating to hire-purchase of goods sold to him by a bank or a "Government Company, as the case may be, under a State sponsored scheme ; or (c) to any agreement relating to a guarantee given by the State Government or the Corporation in respect of a loan raised by an industrial concern, or (d) to any agreement providing that any money payable thereunder to the State Government or the Corporation shall be recoverable as arrears of land revenue ; and such person- (i) makes any default in payment of the loan or advance of any instalment thereof; or (ii) having become, liable under the conditions of the grant to refund the grant or any portion thereof, makes any default in the refund or such grant or portion or any instalment thereof, or (iii) otherwise fails to comply with the terms of the agreement- then, in the case of the State Government, such officer as may be authorised in that behalf by the State Government by notification in the Official Gazette, in the case of a corporation or a Government Company, the Managing Director thereof or where there is no Managing Director, the Chairman thereof, by whatever name called, and in the case of a bank, the local agent thereof, by whatever name called, may send to the Collector a certificate as early as possible in the prescribed form mentioning the sum due from such person and requesting that such sum may be recovered as if it were an arrear of land revenue. (2) The Collector on receiving the certificate shall after making such inquiries (including giving hearing to the party affected) as he deems fit proceed to recover the amount stated therein as aforesaid as arrears of land revenue. (3) On recovery of any amount under sub-section (2), the same shall be paid over to the State Government, Corporation, Government Company, or as the case may be, bank after deducting, except in the case of amount to be paid to the State Government, such portion of the amount realised, as cost of collection ; as the Collector may deem to be reasonable. (4) No suit for the recovery of any such due as aforesaid shall lie in a civil court against any person referred to in sub-section (1), and no injunction shall be granted by a civil court in respect of any action taken or intended to be taken in pursuance of the right conferred by this section.