Mortgage executed by managers of Joint Hindu Families.

(1) Notwithstanding anything contained in any law, where a mortgage in respect of financial assistance given by a credit agency is executed by the agriculturist manager of a Joint Hindu Family, such mortgage shall, subject to the provision of sub-section (2) be binding on every member of such family.

(2) Whenever such mortgage is challenged on the ground that it was executed by the manager for a purpose not binding on the other members (whether such members have attained majority or not), the burden of proving the same shall be on party alleging it.