Amount payable to the landowner

The occupancy tenant shall be liable to pay to the landowner, whose rights have been extinguished under section 94, an amount equal to forty-eight times the land revenue and rates and cesses chargeable in respect of the land the proprietary rights of which vested in him under the said section.

Provided that if the land is subject to a mortgage with a bank the mortgage debt shall be the first charge on the amount payable by the occupancy tenant.