Bare ActsThe ODISHA AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS (BANKS) ACT, 1975

Section 24

Amendment status not verified — confirm the current text below against the official source.

(1) Notwithstanding anything contained in ~ o r t g a g c s any law for the t irne beitlg in force, mortgages executed exocuted Managers by after the commencement of this Act by the manager orjoint Hindu of a joint Hindu family favour of a bank for secu- ring financial assistance for an agricultural purpose shall be binding on every member of such joint Hindu family. 824 THE ORISSA AGRICULTURAL CREDIT OPERAT~ONS AND [Or. Act (Sacs. 25-26) (2) Where a mortgage executed in favour of a bank is caIIed in question on the ground that it was executed by the manager of a joint Hindu family for a purpose not binding on the members (whether such members have attained maiorjtv or not1 thereof. the burden of proving the samezshafl lie on ihe party alleging it. Modified

Section 24 – The ODISHA AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS (BANKS) ACT, 1975 | DailyLaw.ai