section 26
Option of hirer to purchase machinery seized in default
The Odisha State-Aid to Industries Act, 1978General197839 sections5 chapters
Chapter IV SUPPLY OF MACHINERY ON THE HIRE PURCHASE SYSTEM
Statutory text
If the machinery is seized and taken away under section 25, the hirer shall have the option to be exercised within one month after such seizure or such longer period as may be allowed by the Director, of purchasing the same on payment to the Director of the unpaid balance of the cost thereof, such propor- tion of the interest on the said costs as may be pres- cribed and the expenses incidental to such seizure and removal.
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