Amendment status not verified — confirm the current text below against the official source.
(1) Where any land held by any person as possessory mortgagee is in excess of the ceiling area of such person, the possession of the land in such excess shall, with effect from the date of publication of the final statement under section 11 or section 13 – (a) in any case where the total holding of the possessory mortgagor is not in excess of the ceiling area, revert to the possessory mortgagor; (b) in any case where the total holding of the possessory mortgagor is in excess of the ceiling area, and where he desires the land mortgaged by him or any part thereof to be included within his ceiling area in the return furnished by him under section 7, revert to him subject to the condition that the land so reverted together with the other land held by him does not exceed the ceiling area. (2) Where the possession of the land in excess held by a possessory mortgaged or any part thereof does not revert to the possessory mortgagor under sub-section (1), the Government may acquire such land under section 17. (3)(a) (i) The possessory mortgagor to whom possession of the land mortgaged reverts under sub-section (1), shall pay the mortgage money due to the possessory mortgagee in respect of that land. (ii) Where possession of a part only of the land mortgaged reverts to the possessory mortgagor under sub-section (1), the possessory mortgagor shall pay to the possessory mortgagee such amount of the mortgage money as bears to the entire amount of the mortgage money, the same proportion as the value of the part aforesaid on the date of such reversion bears to the value of the entire extent of the land mortgaged on the said date. (iii) Where no agreement can be reached in respect of the mortgage money payable under sub-clause (i) or sub-clause (ii), the authorised officer shall, subject to the provisions of sub-clause (iv) and after making such inquiry as he deems fit, decide the amount so payable. (iv) Where in the opinion of the authorised officer the decision of a question under sub-clause (iii) involves a substantial question of law or of fact, he shall, for reasons to be recorded in writing, refer the question to the Land Tribunal. (b) The land or any part thereof, the possession of which reverts to the possessory mortgagor under sub-section (1), shall be the security for the payment of the mortgage money. 179 (c) The mortgage money referred to in clause (a) shall, for the purpose of article 62 of the Schedule to the Limitation Act, 1963 (Central Act 36 of 1963), be deemed to have become due with effect from the date of reversion under sub-section (1), and shall carry interest at the rate of five and a half percentum per annum from the said date. (4) Where the possession of any land or any part thereof is likely to revert to the possessory mortgagor under sub-section (1), the authorised officer shall first fix the ceiling area of the possessory mortgagee. Possession of land held by tenant to revert to the land owner in certain cases