Right of Land Development Bank to purchase the mortgaged property at sale

It shall be competent to a Land Development Bank to purchase the mortgaged property sold under this Chapter, but the property so purchased shall be disposed of by the bank by sale within such period as may be fixed by the Trustee. (3) Any sum ordered under this section to be recovered as a contribution to the assets of a registered society or as costs of liquidation may be recovered, on a requisition be made in this behalf by the Registrar to the Collector in the same manner as arrears of land revenue.

(4) Save as provided in sub-section (3), orders made under this section shall, on application, be enforced by any civil court having local jurisdiction in the same manner as a decree of such court.

(5) When the affairs of a registered society have been wound up, the liquidator shall make a report to the Registrar and deposit the records of the society in such place as the Registrar may direct.