Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in the provincial Insolvency Act, 1920 (5 of 1920), any security furnished to the State Development Bank or a District Development Bank shail noi be called in question on the ground that it was not furmish&din 6d MIT ToF valGablé Consideration ‘or’ ov the ground thit it was furnished i ‘in order lo give s auch Bank a reference over the other creditors of. the. hinec. . . Le oT! eae Wat ee Ct at ( tH) Notwithstanding 2 anything contained 4 in the: Tans 0 of vas Act, 1882 av df 1882) or any ether enactment for the-lime being i in force no prover 9 ‘offered as Security shall ‘be encumbered otherwise or transferred thereafter. 12) Provisions of Miainya Pradesh Land Revenue’ Code, 1999 a0 of 1959) sal eoly ve a pinperty offered as security upiler this Act. eo oe erst aw Névwithinsnding anythiog contained :in.aiy law for: rthetine beingtn Fetes sactwity subniitted as guaramee in favour of State Development Bank or Distt Development Bank shal “ni be anached | in execution-of decree of any court. 42.(1) Subject to such restrictions, limitations and Conditions a3 may be prescribed, the - Registrar and such uf his subordinate officers and other afficers of ths State Development Bank and Disitect Development Banks as are authorised by him in.this behalf by a general or special. order in weiting.-shalt-have the same powers as are vested in a civil court under the Code of Civil Procedure, ~ 1908 14 of 1908). when arying ai suit, and exercise them in respect of the flowing matters; namely— {a} enforcing altendance of any person and examining bi on oath ¢ or r affirmation; “1b) compelling production of documents; and {¢) issuing commission for examination of witnesses. , 2) Any of the officers authorised by of under sub-section (1) may require any person lo be present ‘before him to furnish any information or to produce any « document then and there j in his pessession or “power, (3) Any officer before whom any document is produced in compliance of an onder issued under vo stib-anttien th) sub-section (2) shelf have the power-te tke or i aathorige theltiiéinig oF, sach’ - copies of the documents or of any entries therein as such officer may consider ‘Wecessary and the "copies so taken shall, when certified in such manner as may be prescribed, be admissible in evidence Jor any purpose i the tame masner and to He same exica ss the criginel document or the ence 7 iherein, as the case may be, is admitted, (41 Any person who wilfully or without reasonable excuse disobeys any summons, requisition or urder issued under sub-section (f} or sub-section (2) shall be punishable by the officer concerned with fine which may extend to five hundred rupees for each such. default: 16 Security not te he questioned «in laselrency proceedings. ‘Restriction 0 power te . 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