section 144
Manner of payment of compensation.
The Manipur Land Revenue and Land Reforms Act, 1960Tax1960170 sections1 chapters
Chapter XI CEILING ON LAND HOLDINGS
Statutory text
- (1) The compensation payable under section 143 shall be due from the date of publication of the list under sub-section (3) of section 142 and may paid in cash, in a lump sum or in instalments, or in bonds.
- (2) Where the compensation is payable in bonds, the bonds may be made not transferable or transferable by endorsement or in any other manner but all such bonds shall be redeemed within such period, not exceeding twenty years from the date of issue, as may be prescribed.
- (3) Where there is any delay in the payment of compensation or where the compensation is paid either in instalments or in bonds, it shall carry interest at the rate of two and a half per cent. per annum from the date on which it falls due.
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