AMOUNT DUE TO THE BOARD TO BE FIRST CHARGE

Notwithstanding anything contained in any law for the time being in force, where a loan has been advanced to a displaced person under clause (c) of sub-section (2) of section 15, or where a building or site has been sold or leased or let out on hire under clause (d) of the Board on account of the loan, sale, lease or hire together with any interest thereon, shall be a first charge on the building, machinery stock and other assets belonging to such person.