Amendment status not verified — confirm the current text below against the official source.
Vesting of the rights of grantee in Government and extinction of rights in grant.- Notwithstanding anything contained in any law for the time being in force, or in any contract or in any judgement, decree or order of any Court, with effect from the appointed day,- (i) The grant shall stand extinguished and any service or obligation attached to such land shall stand abolished; and the grantee shall have no liability to perform any condition or obligation to render any service/ attached to such grant ; (ii) all rights, title and interest of the grantee in the forests or waste lands held by him, shall vest in the Government free from all encumbrances. 1[5. Amount to be paid by the Government.- (1) In consideration of the vesting in the Government the right, title and interest of any person under section 4, the Government shall, subject to the provisions of this Act, pay to such person an amount equivalent to the net income, after deduction of all lawful expenses incurred by him in the management, accrued to him during