Amendment status not verified — confirm the current text below against the official source.
The '1S:are Govctnmcnt] may makc ru!? ~ : o t Govarnrnent to make rules ~ncoi~si*tent \I i t h this Chapter- (i) for thc manncr of cKecting di\traint ; (i i ) ]'or 1 1 1 ~ ci~stody. prcserv~t ion J I I ~ sfle of tllc distr:~ined properly ; - (i:i) fill the investig.tt ion of clnin~s by persons otlicr than the d-faulter to anv right o r iiltcrcst in tho ciistrained propcrty : iund fo~. tllc po\(pnnc~ncnt of t h ~ sale pending such invest igation ; (iv) for tl~c imnicdi:ltc s;ile of pcrisliable articles; :11\d (v) gc~~cr,tlly f o ~ thc purpose of ci~rrying o~11 tlie 1)rovi~ions of this Chi~ptcr. CHAPTER IV. Polver c~f Skle. '7epealed by Central Act XLVIII of 1952. - * ; i i r ~ i t y l r l l . L 4 L * & ~ d ~ 1 , ----- - -. . . -*--k..aWu&+<i- '5' a . - . ?T -. -r A ***A 1' . I . ' , . 1433: T.N. Act X] Co-operatzve Land 435 Development Banks expressly conferred on t hk '[primary land development bankj by the mortgage deed, the committee of such bank or any person authorized by such committee in this behalf shall, in case of default of payment of the mortgage money or any part thereof, have power, in addition to any other remedy available to the bank, to bring the mortgaged property to sale without the intervention of the Court. I (2) No such power shall be exercised unless and unt i 1- ((I) the Board has,previously authorized the exercise of the power conferred by sub-section (I), after hearing the objections, if any, of the mortgagor or mortgagors ; (b) ~zotice in writing requiring payment of such niorlgage money or part has been served upon- (i) the mortgagor or each of the morlgagors; (ii) any person who has any i~~terest in or charge 11po11 the property mortgageti or in or upon rhc right to redeem the same ; (iii)any surety for the payment of the rno1.t- gage debt or any part thereof; and (iv) any creditor of the mortgagor who has jn a suit for the administration of his estate ohtained a decrec for sale of the mortgaged property ; and (c) default has been made in payment of such mortgage money or part for three months after such service.