Mode of dealing with applications for loans

Mode of dealing with applications for loans. (1) When an application for a loan is made for any of the purposes mentioned in section 76A, a public notice shall be given of the application in such manner as may be prescribed calling upon all persons interested to present their objections to the loan, if any, in person, at a time and place fixed therein. The State Government may, from time to time, prescribe the persons by whom such public notice shall be given and the manner in which the objections shall be heard and disposed of. (2) The prescribed officer shall consider every objection submitted under sub-section (1) and make an order in writing either upholding or overruling it: Provided that, when the question raised by an objection is in the opinion of the officer one of such a nature that it cannot be satisfactorily decided except by a civil court, he shall postpone the proceedings on the application until the question has been so decided. (3) A notice under sub-section (1), published in the manner prescribed, shall, for the purpose of this Act be deemed to be proper notice to all persons having or claiming interest in the land to be improved, or offered as security for the loan. (4) Subject to such rules as may be prescribed, the Agriculture and Rural Development Banks shall consider such application after due enquiry for the purpose of making loans under this Chapter.