Amendment status not verified — confirm the current text below against the official source.
Right of 1 [Agriculture and Rural Development Bank] 1 to pay prior debts of mortgagor.- (1) Where a mortgage is executed in favour of an 1 [Agriculture and Rural Development Bank] 1 for payment of prior debts of the mortgagor, the Bank may, notwithstanding the provisions of sections 83 and 84 of the Transfer of Property Act, 1882, (Central Act IV of 1882) by notice in writing, require any person to whom any such debt is due, to receive payment of such debt or part thereof from the bank at its registered office within such period as may be specified in the notice.