Amendment status not verified — confirm the current text below against the official source.
Amount due to Company to be first charge on land of defaulters. Recovery of money due to Company as arrears of land revenue. Where loan is given by scheduled bank, transfer of rights of Company to the bank for speedy- recovery of its dues from owners of land benefited. Gujarat Land Improvement Schemes Act, 1942. 12 of 18 charges or mortgage created thereon in its favour. The talati or designated officer shall show in the record of rights or, where there is no record of rights, in the prescribed village record and in the village accounts the name of the bank as the mortgagee of the lands and make a note of other particulars of the charge created or mortgage given. The bank shall likewise give an intimation to the talati or designated officer as soon as the whole amount due from any owner ceases to be outstanding, and thereupon the talati or the designated officer shall make a suitable note in the record of rights or the village record and accounts about release of the land from the charges or mortgage, as the case may be. (4) The provisions of sections 15A and 15B shall apply mutatis mutandis to any amount or instalment thereof payable by any owner of land to any scheduled bank under this section, as if references in those sections to the Company and the Company Officer were references to the scheduled bank and the bank officer, respectively. Explanation.-For the purposes of this section "scheduled bank" means a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 and "bank officer", in relation to such bank means any officer of such bank duly appointed by it for the purposes of this Act.]