Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything in this Act, on an application made by an *[Agricultural Development Bank] for the recovery of arrears of any sum advanced by it to any of its members and on its furnishing a statement of accounts in respect of the arrears, the Registrar may, after making such enquiries as he deems fit, grant a certificate for the recovery of the amount stated therein to be due as arrears. (2) A certificate by the Registrar under sub-section (1) shall be final and conclusive as to the arrears due. The arrears stated to be due therein shall be recoverable by the Collector in the same manner as arrears of land revenue. (3) It shall be lawful to the Collector to take any precautionary measure until the arrears due to the *[Agricultural Development Bank] together with interest and any incidental charges incurred in the recovery of such arrears, are paid or security of such arrears is furnished to the satisfaction of the Registrar. Recovery of loans by *[Agricultural Development Bank]. Recovery of loans on certificate by Registrar. 142 [Act No.7 of 1964] (4) It shall be competent for the Registrar or a person authorised by him to direct conditional attachment of the property of the mortgagor until the arrears due to the *[Agricultural Development Bank] together with interest and any incidental charges incurred in the recovery of such arrears, are paid or security for payment of such arrears is furnished to the satisfaction of the Registrar and the provisions of section 73 shall apply mutatis mutandis to conditional attachment of any property made or to be made under this section.