Preamble

The Nagaland Recovery of Loan Act, 2007 (Act No. 3 of 2007)

Received the assent of the Governor of Nagaland on 29/08/2007 and published

in the Nagaland Gazette Extraordinary dated : 11" of January, 2008. An -Act-

To provide for recovery, as public demands, of loans advanced by banks and other financial institutions.

Preamble: Whereas it is expedient to make legal provisions for recovery, as public demands, of loans advanced by banks and other financial institutions under various schemes framed or approved by the Government of Nagaland, with the object of ensuring better recovery of such loans, and of improving credit flow to promote the process of development in the State;

It is hereby enacted in the fifty third year of the Republic of India as follows:-