section 34
Act shall not to affect interest created by mortgage charge, pledge etc.
The Tripura Public Demand Recovery Act, 2000General200038 sections4 chapters
Chapter III EXECUTION OF CERTIFICATE
Statutory text
- (1) Nothing in this Act shall affect any interest of the State Government, a Corporation, a Government Company or a bank in any property created by any mortgage, charge, pledge or other encumbrance.
- (2) Where the property of a certificate debtor is subject to any mortgage, charge, pledge or other encumbrance in favour of the State Government, a Corporation, a Government Company or a bank then, (a) In every case of a pledge of goods, proceedings shall first be taken for sale of the goods pledged, and if the proceeds of such sale are less than the sum due, then proceedings shall be taken for recovery of the balance ;
- (b) In every case of a mortgage, charge or other encumbrance on immovable property, such property or, as the case may be, the interest of the certificate debtor therein, shall first be sold in proceedings for recovery of the sum due from him as if it were an arrear of land revenue, and any other proceedings may be taken thereafter only if Certificate officer certifies that there is no prospect of realization of the entire sum due through the first mentioned process within a reasonable time.,
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