Mortgages executed by managers of joint Hindu families

Mortgages executed by managers of joint Hindu families. (1) Mortgages, in respect of loans by an Agriculture and Rural Development Bank or the State Agriculture and Rural Development Bank either before or after the commencement of the Karnataka Co-operative Societies (Amendment) Act, 1964 by the manager of a joint Hindu family for the improvement of agricultural land or of the methods of cultivation, or for financing any other means to increase the productivity of the land, or for the purchase of land, shall be binding on every member of such joint Hindu family, notwithstanding any law to the contrary. (2) In other cases, where a mortgage executed in favour of an Agriculture and Rural Development Bank or State Agriculture and Rural Development Bank either before or after the commencement of the Karnataka Co-operative Societies (Amendment) Act, 1964, is called in question on the ground that it was executed by the manager of a joint Hindu family for a purpose not binding on the members (whether such members have attained majority or not) thereof, the burden of proving the same shall, notwithstanding any law to the contrary, lie on the party alleging it.