Amendment status not verified — confirm the current text below against the official source.
Order granting loan conclusive of certain matters.-Written order by the Land Development Bank, or person or managing committees authorised by this Chapter or undr the bye- laws of the bank to make loans for all or any of the purposes specified in section 44-B granting either before or after the commencement of the Bihar Co-operative Societies (Amendment) Ordinance, 1975, a loan to or with the consent of a person mentioned therein for the benefit of the land or for the productive purpose specified therein, shall be conclusive of the following matters namely:- (a) that the work described or the purpose for which the loan is granted, is an improvement or productive purpose; as the case may be, within the meaning of section 44-B; (b) that the person had on the date of the order a right" to make such improvement or incur expenditue for such productive purpose, as the case may be; and (c) that the improvement is one benefitting the land specified and the productive purpose concerns the land offered as security or any part thereof as may be relevant.