Preamble

The M.P. Samaj Ke Kamjor Vargon Ke Krishi Bhumi Dharakon Ka Udhar Dene walon Ke Bhumi Hadapane Sambandhi Kuchakron Se Paritran Tatha Mukti Adhiniyam, 1976 (M.P. Act No. 3 of 1977) mp710 [Dated 22nd January, 1977]

An Act to better economic condition of holders of agricultural land in the weaker sections of the people by providing further relief from agricultural indebtedness by nullifying the land grabbing designs resorted to in many a form by lenders of money while and after extending credit to them and matters connected therewith. Whereas a holder of agricultural land in the weaker sections of the people is quite often compelled to seek loan from private money lending agencies to meet his various obligations of urgent nature; And whereas such private agencies seldom if ever advance loan to him without security of land, his only wherewithal; And whereas due to ignorance of niceties of law or urgency of financial need or both, he falls an easy prey to them scarcely realising the legal consequences arising out of the documents which he executes or which they got executed from him accordingly byway of security for the loan; And where it is necessary to relieve the holders of agricultural land in the weaker sections of the people from such exploitation by nullifying such past transactions of loan as also to put a stop to such transactions. Be it enacted by the Madhya Pradesh Legislature in the Twenty-seventh Year of the Republic of India as follows :-