Amendment status not verified — confirm the current text below against the official source.
¢1) IW. within fifteen days from the date of secvice of ihe notice of demand referred to in Sate ef property section 24, the defaulter does not pay the amount for which the distraift was effected, the distrainer may sell by auction the distrained property or such part thereof as may, in his cpinion, be necessary iu satisfy the demand together with the expenses of the distraint and the cost of the sale. \ . (2) A deduction of account of the costs of the sale shall be made from the proceeds af such sale a stich rate as may be fixed by the Registrar from time to time. vo (2) The expenses incurred on account of the disteaint by the disstrainer shall be deducted from the balance. - os as ah ‘The remainder, if any, shall be applied to the discharge of the- amaunt for wie the. sisoin ~ ava mitde, . J is Surplus. if any. shal: be delivered lo the person whose property as tr asta also be yiven.a receipt for the. amount discharged fram the proceeds of he sale vit oe - CHARTER—V SALE OF PROPERTY WITHOUT INTERVENTION oF cova, 26.01) ) Nonwithstanding ‘anything contained i in the Madhya Pradesh Co-operative Societies Act MestNe: EPO SELF be dhe Thuste Rnd Mar gaees Ptiwer Act. [886 TNR WHHGBRF OE ally other . lay (ego the care being tn: force: where" stourity has been Tumishet revels atsitoeabté or inmnes able property in favour of the State Development Bank or a District Development Bank. the Bank at any person authorised | for the ‘Purpose shall, is case of default i in the payment of sums due Wa the Bank. ‘have power, in addition to any other remedy available to it to. bring i lo sale, the property " which the security relates without intervention of any court of Taw, "oF No such p fower shall’ be exenised by. a ‘District Divelopei Bank “wiih and ‘until the State Development Bank has previously authorised such sale in exercise of ihe power conferred on it under sub-section (1: pyres! Provided that the State Development Bank shalt be deemed to have authorised the exercise of ~ stich pinwer if no reply is received frony it within thirty days of making a reference by tl the District Developmrent Bank or "arly person authorised by it for (he purpase: Provided further that approval shall not he necessary in case where the loan is advanced by the District Development Bank out of their own und. _. QLNoguch power shall, be peemcled. by the Sia. Developmen Bask ong, District Developmen Bank unless ‘and rt a rote etgy) © native requiring paymenttof sams due toritle Distriet Development Bintcot any par __ dhereof-Aas been. served upon— ~ the Joance: iti} any person who has any interest or charge upon the property to which the securily relates or any other right to redeem the same; a distrained, Power to seli: property charged. wtihout Interventian of « Court. faa fet writers afte feraret at fa, (viet) fen Fawr ar a ster ufinad & iera ae fare feet vf Te ; Cun) -suremmta & fereh Gren we fired are aoe & wae & fire are Swe ef , fara ufayfa defies ¢, fara & fou fest afi a oft #; ath (a) fren forme ar at ater tel Ufa wr dae sea A, aes (az) A ee Gen a ater 4 Wea, <i ae et areTae aH & fire oafemn aRt gene : WY Bs (w) & ayWve (a) ath Can) F atthe cafe st det Gan 2 at wer zz Set Pet Get eh es Fame or fen Rae Sy oH Ae oe gan t. (9) fa ef ate Hs ese fi . “ate ane tt des frat st aa - (8) era 36 sre (4) vce at ee hh he re, ee a fret a Pen fara 7H Perera dtr ot Parent Brave Fe err cert sofinge FE sate za tote wr, free vfirafy cafes t Wr Sa fare wey a Fae SA | fore oT ay & ai oa fifa Frege faive afer oA ander at wm, aft ten safeatd, ore ze wt oaeTT (3) MT se Ae ge et en 1 a A Fe et a Ho, ub og trerinah cree eeit et Yes derbi greta “fame 28 fo FRR Cet ada: car fee. ene ae fee afresh doe a Od | We fees reas ene fra era Gs &. (a) fama atfersrt, faa & art = vente go fe fren fs ffi Son re. Chtchukiediadaatiek Lhe biaehke wren aE ma, SFR fares ora wafer Gar ¢— Cm) zafeats, Wea fear fe a fen faa Ge st dea stan & fa, faa rear Fae con oe ere ea eae ste ie a Fer ct fer - He go sem oe ok om, ae ae a, afk (a). fea ot er fe a fry a Wa hee OC of, aft sae fra Wee Gel FST] TF HI, farna afipend & ore flee ach, an fama a) soma aaa % fam fare A ade a ae . fa & sim, Welfare fara ara ot Fat SA weer satteg er Fem ~ (yatta fe et & Par oe se wh a wa kN oN, Ny ART TE Fat at 4 state: fave arm ett qe sf, wei ToeTT (4) & ath fr - % We By sacs Tel fen we ET ae te aes fam wae ae 3a Heated a fon aor Ef, ae fies afiral ween At a sae gro ya fifa gee fel aq afrert a al = . St WG sot a fart oe aot aw fas woofs acd ain, ate eC 4H few ater at aM Si Ua Te afer gro fea at of aR fee aA Tae atrdita et orem ath ay arate fas Pra SR wg Fo et er F fafa wt ae eae ATT. 12 A (3). Rare shes ate gra Bra at aa We, ati ae aa fama afi sti t fem & _ “aH any surely for the payment of the sums due to the District Development Bank: (iv) any creditor of the loanee who has, in a suit for the administration of his estate, obtaining a decree for sale of the praperty to which the security relates: and thy there has been default in payment of such sums due to the District Development Bank for a period of two months after service of the notice referred to in clause (a): Provided that the obligation to give such notice to the persons mentioned in sub-clauses (ii) and {iv) of clause (a) shall be confined to cases where the State Development Bank ae eR ai the Districi "Dételopmicht Baik has ilotice of such clainty, Hoe hi Any bafance remaining due after the sale of the properly may also he recovered i in the manner provided under this Act from any other assets of tlie’ Todnee ae A (1) For exercising: the power lo sdll conferred ia*sub-scetion <1) of section 26.'the State Developmenr-Bank or’ a District Development Bank-or. any person duly-authorised by the State Development Bank or a District Develdpment Bank as the case may be, may apply to the sale officer appointed in that behaif under section 35 to sell the properly to which the security relates or any part theteul, ands such officer shall, after giving.notice in writing as required by fabvapation Giof. seution : eal such. property: ie such, manner as aye prescribed, “ a6 a ey ‘the sale shall, be, by publica auction, and. shalt be. hed iM, nthe. lags ge ope to which the sccurily relates is situaled or at the nearest public place if the sale officer is of the opinion that the property ts fikely to be sold to better advantage at such place. ; (H The Sale Officer shall forthwith deposit the proceeds of sale with : . Bank ur We District. \ Developmen Bank. as the casé tay be. er ade A at . a ee he State Development