Amendment status not verified — confirm the current text below against the official source.
Powers of Agncultural Development Bank 'tn case secunty property is tnsufficient.-Where any property which IS subJect to a Gehan or mortgage or hypothecatiOn m favour of the AgriCultural Development Bank or a primary bank IS rendered insufficient and the person who created the Gehan or executed the mortgage or hypothecation, havmg been given a reasonable opportumty, by the Board or the committee of the pnmary bank, of prov1dmg further secunty enough to render the whole security sufficient or of repay- ing such portwn of the loan as may be determined by the Board or the committee, has failed to provide such security or to repay such portion of the loan, the whole of the loan shall be deemed to fall due at once and the Board or the committee, as tlic case mav be, shall be entitled to take action against the person who created the Gehan or executed the mortgage or hypothecatiOn under section 16 or section 19 for the recovery thereof. Explanatwn.-A secunty IS msuffi.c1ent within the '1~eanmg of this section if the value of the property falls below the amount for the time being due to the Agricultural Development Bank or the pnmary bank by such proportiOn as may be specified m the regula- tions of the Agricultural Development Bank or the bye· laws of the primary bank, as the case ·may be.