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KARNATAKA AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS ACT, 1974
KARNATAKA AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS ACT, 1974
2 of 1975
18th February, 1975
An Act to make provisions to facilitate flow of credit for purposes of agricultural production and development through credit agencies. Whereas, it is expedient to make provisions to facilitate flow of credit for purposes of agricultural production and development through credit agencies and for matters connected therewith or incidental thereto; Be it enacted by the Karnataka State Legislature in the Twenty-fifth Year of the Republic of India as follows :-
CHAPTER 1 Preliminary
Section1 Short title, extent and commencement
(1) This Act may be called the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974.
(2) It extends to the whole of the State of Karnataka.
(3) It shall come into force in such areas on such date as the State Government may, by notification, appoint, and different dates may be appointed for different provisions of the Act and for different areas.
Section2 Definitions
In this Act, unless the context otherwise requires.
(a)11. Clause (a) substituted by Act No. 34 of 1978, w.e.f. 29-12-1978 "Agriculture" and "Agricultural Purposes" include making land fit for cultivation, cultivation of lands, improvement of land including development of sources of irrigation, raising and harvesting of crops, horticulture, forestry plantation (including tree crops), cattle breeding, animal husbandry, dairy farming, seed farming, pisciculture including 22. Inserted by Act No. 26 of 1984, w.e.f. 26-4-1984. [the development of fisheries both inland and marine and] catching fish and all activities connected therewith or incidental thereto, apiculture, sericulture, piggery, poultry farming and such other activities as are generally carried on by agriculturists, dairy farmers, cattle breeders, poultry farmers and other categories of persons engaged in similar activities, including processing, marketing, storage and transport of agricultural produce and the acquisition of draught animals, implements and machinery in connection with such activities and such other purposes as the State Government may specify in this behalf.]
(b) "Agriculturist" means a person who is engaged in agriculture;
(c) "Agro-Industries Corporation" means the Karnataka State Agro-Industries Corporation, a company registered under the Companies Act, 1956;
(d) "Co-operative Society" means a co-operative society registered or deemed to be registered under the Karnataka Co-operative Societies Act, 1959, the object of which is to provide financial assistance as defined in clause (f) of this section to its members and includes a Co-operative Land Development Bank;
(e) "Credit Agency" means.
(i) a banking company as defined in the Banking Regulation Act, 1949;
(ii) the State Bank of India constituted under the State Bank of India Act, 1955;
(iii) Subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959;
(iv) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970;
(v) the Agricultural Refinance Corporation constituted under the Agricultural Refinance Corporation Act, 1963;
(vi) Agro-Industries Corporation as defined in clause (c);
(vii) the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956; and
11. Item (vii-a) inserted by Act No. 26 of 1984, w.e.f. 26-4-1984. [(vii-a) the Regional Rural Banks constituted under the Regional Rural Banks Act, 1976 (Central Act 21 of 1976)];
(viii) any other financial institution notified by the State Government as a credit agency for the purpose of this Act;
(f) "Financial Assistance" for the purpose of this Act means assistance granted 22. Inserted by Act No. 26 of 1984, w.e.f. 26-4-1984. [whether before or after the commencement of this Act] by way of 33. Substituted for the words "loans and advances guaranteed" by Act No. 34 of 1978, w.e.f. 29-12-1978 [loan advance, guarantee] or otherwise for agricultural purposes.
CHAPTER 2 Alienation of land or interest therein by Agriculturists
Section3 Removal of restrictions on alienation
Notwithstanding anything contained in any law for the time being in force or any custom or usage having the force of law, it shall be lawful for an agriculturist to alienate the land or his interest therein whether or not a charge or mortgage is subsisting on such land or such interest, by creation of charge or mortgage of such land or interest therein in favour of a credit agency as security for the financial assistance given to him by such credit agency.
Section4 Vesting agriculturists not having alienable rights with rights of alienation
Notwithstanding anything contained in the Karnataka Bhoodan Yagna Act, 1963 (Karnataka Act 34 of 1963) the State Government may, by notification, vest Bhoodan tenants with rights of alienation, including the right to create a charge or mortgage in such land or interest in favour of a credit agency for the purpose of obtaining financial assistance from the credit agency subject to such restrictions as may be specified in such notification.
Section5 Charge on crops and other movable property
(1) It shall be lawful for an agriculturist to 11. Substituted for the words "create a mortgage" by Act No. 26 of 1984, w.e.f. 26-4-1984 [create, by way of hypothecation or otherwise, a mortgage] of or a charge on.
(a) movable property, owned by him; or
(b) crops standing or otherwise, raised by him on his own land or land held by him as a tenant including other produce raised by him on such land to the extent of his interest in such crops or produce, in favour of a credit agency as security for the financial assistance given to him.
(2) Notwithstanding anything contained in the Karnataka Co-operative Societies Act, 1959 or any other law for the time being in force, no charge in respect of financial assistance given by a co-operative society to an agriculturist shall have priority over charge on the crop raised by him, standing or otherwise, or any other movable property in respect of any financial assistance given to him by a credit agency.
Provided that the financial assistance given by the credit agency is prior in point of time to that of any loan advanced to him by the co-operative society.
Section6 Creation of charge on land or interest therein in favour of a credit agency by a declaration
Notwithstanding anything contained in any law for the time being in force.
(i) any agriculturist given financial assistance by a credit agency may by a declaration in the prescribed form charge the land or any other immovable property owned by him or where he is a tenant of any land, his interest in such land, as security for the amount of such financial assistance and interest payable
(ii) a declaration made under clause (i) may, with the consent of the credit agency concerned, be varied by the agriculturist at any time.
Section7 Priority of charges and mortgages over certain claims
11. Sub-section (1) substituted by Act No. 34 of 1978, w.e.f. 29-12-1978 [
(1)Notwithstanding anything contained in any law for the time being in force, but subject always to the paramount charge in respect of arrears of land revenue.
(a) no charge or mortgage created on any land or interest therein after the commencement of this Act in favour of the State Government or a co-operative society shall have priority over a charge or mortgage created on such land or interest by an agriculturist in favour of a credit agency as security for financial assistance given to him by such agency after the commencement of this Act and prior to the creation of the charge or mortgage in favour of the State Government or the co-operative society; and
(b) any charge or mortgage created on any land or interest therein in favour of a credit agency as security for financial assistance given to an agriculturist by that credit agency shall have priority over any other charge or mortgage that may have been created over such land or interest in favour of any person other than the State Government, a co-operative society or any other financial institution prior to the date on which the charge or mortgage was created in favour of the credit agency.
(2) Where different charges or mortgages over the same land or any interest therein have been created or executed by an agriculturist in favour of.
(i) the State Government; or
(ii) a co-operative society; or
(iii) one or more credit agency, such charges or mortgage out of them as is created or executed as security for the financial assistance given as term loan for development purposes shall have priority over the other charges or mortgages:
Provided that prior notice thereof had been given to, and concurrence had been obtained of the State Government or the co-operative society or the credit agency, as the case may be.
(3) Where more than one charge or mortgage had been created or executed as security for the financial assistance given as term loan for development purposes, the charges or mortgages shall have priority in accordance with the dates of their creation or execution.
Explanation. For the purposes of this section, "term loan for development purposes" means financial assistance which would generally lead to improvement of agriculture and or building up of assets in agriculture but shall not include financial assistance for meeting working capital expenses, seasonal agricultural operations and marketing of crops.
(4) Nothing in this section shall apply to borrowings from one or more co-operative societies only.
Section8 Mortgage executed by managers of Joint Hindu families
(1)Notwithstanding anything contained in any law, where a mortgage in respect of financial assistance given by a credit agency is executed by the agriculturist manager of a Joint Hindu family, such mortgage shall, subject to the provision of sub-section (2) be binding on every member of such family.
(2) Whenever such mortgage is challenged on the ground that it was executed by the manager for a purpose not binding on the other members (whether such members have attained majority or not), the burden of proving the same shall be on the party alleging it.
Section9 Registration of charges and mortgage in favour of a credit agency
(1) Notwithstanding anything contained in the Registration Act, 1908, a charge in respect of which a declaration has been made under clause (1) of Section 6 or in respect of which variation has been made under clause (ii) of that section or a Mortgage executed by an agriculturist in favour of a credit agency in respect of financial assistance given by that credit agency, shall be deemed to have been duly registered in accordance with the provisions of that Act with effect from the date of such charge, variation or mortgage, as the case may be, provided the credit agency sends to the registering officer within the local limits of whose jurisdiction the whole or any part of the property charged or mortgaged is situated within such time and in such manner as may be prescribed by the State Government for this purpose, by registered post acknowledgement due, a copy of the document creating such charge, variation or mortgage duly certified to be a true copy by an employee of a credit agency authorised to sign on its behalf.
(2) The Registering authority receiving such document shall enter the same in the Book-I.
Section10 Noting of charge or mortgage in the Record of Rights
Whenever a charge or a mortgage on land or interest therein is created or executed by an agriculturist in favour of a credit agency, the credit agency shall give intimation to the Tahsildar of the taluk in which the land is situated or to any officer authorised by him, of the particulars of the charge or mortgage in its favour. The Tahsildar or the officer authorised by him shall make a note of the particulars of charge or mortgage in the Record of Rights relating to the land over which the charge or mortgage has been created.
Section10A Registration of discharge certificates
11. Section 10-A inserted by Aet No. 26 of 1984, w.e.f. 26-4-1984 . Where any document creating a charge or mortgage has been registered in accordance with Section 9 and the details thereof noted in the record of rights under Section 10 and the liability under the financial assistance has been discharged, the credit agency shall issue a certificate to that effect and the provisions of the said sections shall, mutatis mutandis, apply to the registration of such certificate and to the deletion of the entry made in the record of rights.
CHAPTER 3 Recovery of dues by Credit Agencies
Section11 Removal of bar to attachment and sale by process of Court
Nothing in any law shall prevent in any manner a credit agency from causing any land or any interest therein mortgaged or charged to it by an agriculturist to secure any financial assistance, to be attached and sold through a Civil Court and applying the proceeds of such sale towards all moneys due to it from that agriculturist including the costs and expenses as may be awarded by the Court.
Section12 Recovery of dues of a credit agency on a certificate by the prescribed officer
(1) On an application made by a credit agency for the recovery of arrears of any sum due to it by an agriculturist towards the financial assistance given to him and on its furnishing a statement of accounts in respect of the arrears, the prescribed officer may after making such enquiries as he deems fit and after giving the agriculturist a reasonable opportunity of being heard, grant a certificate for the recovery of the amount stated therein to be due.
(2) A certificate by the prescribed officer under sub-section (1) shall be final and conclusive as to the arrears due. The arrears stated to be due therein shall be recoverable as if it were an arrear of land revenue. 22. Explanation and sub-section (3) inserted by Act No 26 of 1984, x.e.f. 26-4-1484
Explanation. For the purposes of this section, "agriculturist" includes his co-obligants and sureties and their legal representatives to the extent of the assets of the deceased in their hands.
(3) The actual period during which any proceedings under this Act or rules made thereunder were pending shall be excluded while computing the period of limitation for filing a suit for the recovery of any monies due in respect of financial assistance under this Act.
Section13 Right of a credit agency to purchase 1[and dispose immovable property
(1) Notwithstanding anything contained in any law for the time being in force, it shall be lawful for a credit agency to purchase 22. Substituted for the words "any mortgaged property" by Act No. 34 of 1978, w.e.f. 29-12-1978 [agricultural land or interest therein or any other immovable property which has been charged or mortgaged to it], at a sale held in enforcement of the mortgage executed in its favour in respect of the financial assistance given when no person has offered to purchase it for a price which is sufficient to pay to the credit agency the moneys due to it and the provisions of Chapter IV of the Karnataka Land Reforms Act, 1961 shall not be applicable in respect of the property so purchased.
(2) The property so purchased shall be disposed of by such credit agency by sale within a period of five years from the date of purchase.
(3) The sale by a credit agency of such property shall be subject to the provisions of the Karnataka Land Reforms Act, 1961 and the Karnataka Prevention of Fragmentation and Consolidation of Holdings Act, 1966.
(4)(a) The right of sale under sub-section (2) shall be subject to the condition that the credit agency shall give notice to the agriculturist referred to in sub-section (1) of Section 12 that if he actually pays within the time specified in the notice which shall not be less than sixty days.
(i) the amount specified in the proclamation of sale for the recovery of which the sale was ordered less any amount which
(ii) such other sums including interest as may be prescribed.
(b) The credit agency shall specify in the notice the amount to be paid.
(c) If the agriculturist actually pays the amount in terms of the notice the credit agency shall reconvey the property to him at his cost.
Section14 Power to lease
Notwithstanding anything contained in any law for the time being in force, a credit agency shall, subject to the provisions of sub-section (1) of Section 13, have the right to lease the land acquired by it under the said sub-section:
Provided that the term of such lease shall not be more than one year at a time and that the lessee shall not acquire any interest in the land.
Section15 Exemption from registration fee
Notwithstanding anything contained in the Registration Act, 1908, no fee under the said Act shall be payable in respect of an instrument by which immovable property is mortgaged or charged under this Act 11. Inserted by Act No. 26 of 1984, w.c.f. 26-4-1984 [or by which it is released from such mortgage or charge.]
Section16 Power to make rules
(1) The State Government, may after previous publication, by notification, make rules to carry out the purpose of the Act.
(2) In particular and without prejudice to the generality of the foregoing power such rules may provide for all or any of the following matters, namely.
(i) the form of declaration under Section 6;
(ii) the time within which and the manner in which the credit agency should send a copy of the instrument referred to in Section 9;
(iii) prescribing the officer for purposes of Section 12.
(3) Every rule made under this section shall be laid as soon as may be after it is made before each House of the State Legislature while it is in session for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree that the rule should not be made, the rule shall from the date on which the modification or annulment is notified by the State Government in the Official Gazette have effect only in such modified form or be of no effect, as the case may be; so however that any
CHAPTER 4 Miscellaneous
Section17 Amendment of Karnataka Act 11 of 1959
In the Karnataka Co-operative Societies Act, 1959 (Karnataka Act 11 of 1959).
(1) in Section 2, after clause (e), the following clause shall be inserted, namely. "(e-1) "Credit Agency" means a credit agency as defined in the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974;"
(2) in sub-section (1) of Section 18, after the words "any individual", the words "or any credit agency" shall be inserted;
(3) Section 59 shall be renumbered as sub-section (1) of that section and after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely. "(2) Notwithstanding anything contained in sub-section (1), such co-operative societies or class of co-operative societies as the State Government may, by notification, specify shall have power to borrow from a credit agency subject to such conditions as may be prescribed";
(4) after Section 65, the following sections shall be inserted, namely.
65-A. Report of audit, inspection and final report to be made available to a credit agency. The Registrar shall draw the attention of a credit agency financing a co-operative society to the defects noticed in any audit, inquiry or inspection of such co-operative society and shall also supply a copy of each of such audit or inquiry report, if demanded in writing by such credit agency.
65-B, Inspection of books of co-operative society by a credit agency.
(1) A credit agency shall have the right to inspect the books of any co-operative society which has either applied to the credit agency for financial assistance or is indebted to it.
(2) The inspection may be made either by an officer of the credit agency or a member of its paid staff authorised by the credit agency as competent to undertake such inspection.
(3) The officer or member so inspecting shall, at all reasonable times, have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the co-operative society and may also call lor such information, statements and returns as may be necessary to ascertain the financial conditions of the co-operative society, and to ensure security of the sums lent to it by the credit agency.
(4) in Section 70, in clause (d) of sub-section (1), after the words "co-operative society", the words. or a credit agency" shall be inserted;
(5) after Section 71-A, the following section shall be inserted, namely.
"71-B. Powers of credit agency to proceed against members of a co-operative society for the recovery of money due to it from such society.
(1) If a co-operative society is unable to pay its debts to a credit agency by reason of its members committing default in the payment of the moneys due by them, the credit agency may direct the committee of such co-operative society to take proceedings against such member under Section 70 or initiate proceedings under Section 101, as the case may be and if the committee fails to do so within a period of ninety days from the date of receipt of such direction the credit agency may itself proceed against such defaulting members under Section 70 or Section 101, as the case may be, in which case, the provisions of the Act, the rules or the bye-laws shall apply as if all references to the co-operative society or its committee in the said provisions, were reference to the credit agency.
(2) Where a credit agency has obtained a decree or award against a co-operative society in respect of money due to it from the co-operative society, the credit agency may proceed to recover such moneys firstly from the assets of the co-operative society and secondly from the members of the co-operative society to the extent of their debts due to the society."
Section18 Money Lenders Act not to apply
The provisions of Karnataka Money Lenders Act, 1961 (Karnataka Act 12 of 1962) shall not apply to financial assistance granted to an agriculturist by a credit agency.
Section19 Modified application of Section 8 of the Act XXXII of 1956
Section 8 of the Hindu Minority and Guardianship Act, 1956, shall apply to mortgages in favour of a credit agency subject to the modification that reference to the Court therein shall be construed as reference to the Deputy Commissioner or his nominee and the appeal against the order ot the Deputy Commissioner or his nominee shall lie to the Divisional Commissioner.
Section19B Application of Indian Limitation Act, 1963
11. Sections 19-B and 19-C inserted by Act No. 26 of 1984, w.e.f. 26-4-1984 . The provisions of Sections 4, 5 and 15 of the Indian Limitation Act, 1963 (Central Act 36 of 1963) and Articles 19, 21, 25, 36, 37, 38 and 62 of the Schedule to the said Act, shall apply mutatis mutandis to all the proceedings under this Act and rules.
Section19C Burden of proof
Where validity of a mortgage or charge created under this Act is questioned in a Court of law, notwithstanding anything contained in any law for the time being in force, the burden of proving that it was not created for agricultural or valid purposes shall be on the party alleging it.
RULE
KARNATAKA AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS RULES, 1975
Where as, the draft of the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Rules, 1975 was published as required by sub-section (1) of Section 16 of the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974 (Karnataka Act 2 of 1975) in Notification No. GSR 100 PD 87 PCM 71 in Part IV, Section 2-C(i) of the Karnataka Gazette dated the 3rd April, 1975 inviting objections and suggestions from all persons likely to be affected thereby before 24th April, 1975; And whereas, the said Gazette was made available to the public on 3rd April, 1975; And whereas, the suggestions and objections received with respect thereto have been considered by the State Government; Now, therefore, in exercise of the powers conferred by Section 16 of the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974 (Karnataka Act 2 of 1975), the Government of Karnataka hereby makes the following rules namely:
Rule1 Title and commencement
(1) These rules may be called the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Rules, 1975.
(2) They shall come into force at once.
Rule2. Definitions
In these rules, unless the context otherwise requires.
(a) "Act" means the Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974 (Karnataka Act 2 of 1975);
(b) "Form" means a form appended to these rules;
(c) "Section" means a section of the Act.
Rule3. Procedure for distraint and sale of movables
(1) Where any charge has been created on any crop, produce or other movable property in favour of a credit agency in respect of financial assistance given by such credit agency and the whole or any part of the amount due in respect thereof remains unpaid, the credit agency may make an application in Form 1 to the official designated by the State Government under Section 5 (hereinafter referred to as the "distrainer") for distraint and sale of such crop, produce or property.
(2) The original document creating the charge shall be filed along with the application referred to in sub-rule (1).
(3) If the distrainer is satisfied that the application is in order, he shall cause to be served on the agriculturist or his heir or legal representative, a written notice of demand in Form 2, calling upon him to pay the amount specified in the notice within a period of fifteen days from the date of service thereof, or to show cause why the property charged be not distrained and sold.
(4) The notice referred to in sub-rule (3) shall be served by delivering a copy to the agriculturist or his heir or legal representative or to any adult male member of his family at his usual place of residence or to his authorised agent, or when such service cannot be effected by affixing a copy of the notice on some conspicuous part of his residence.
(5) If the amount specified in the notice referred to in sub-rule (3) or any part thereof is not paid within the time allowed therefor, or if no cause is shown or where the cause shown is considered by the distrainer to be insufficient, the distrainer shall distrain the property charged.
(6) The distrainer shall make proper arrangements for custody and preservation of distrained property during the interval between distraint and sale thereof. The applicant or any officer of the credit agency concerned, if so authorised by the applicant shall, if required by the distrainer, undertake the custody and preservation of the property distrained.
(7) The distraint shall be made at any time between sunrise and sunset.
(8) If crops or ungathered produce of the land belonging to the agriculturist or his heir or legal representative are distrained, the distrainer may cause them to be sold when fit for reaping or gathering, or at his option may cause them to be reaped or gathered in due season and stored in proper place until sold.
(9) It shall be lawful for the distrainer to force open any stable, cowhouse, granary, godown, out-house or other building, and he may also enter any dwelling house, the outer door of which may be open, and may break open the door in any room in such dwelling house for the purpose of distraining the properties referred to in sub-rule (1), provided always that it shall not be lawful for such distrainer to break open or enter into any apartment in such dwelling house appropriated for the women or residence of women except after giving due notice for retirement or removal of such women.
(10) The distrainer may sell or cause to be sold by public auction any property distrained under sub-rule (5) or such part thereof as may in his opinion be necessary to satisfy, the demand together with expenses of the distraint and the costs of the sale.
(11) The distrainer shall at any time before the date of sale cause proclamation of the date and place of the intended sale to be made by beat of drum in the village in which the agriculturist or his heir or legal representatives reside or the properties referred to in sub-rule (1) are kept and in such other place or places as the distrainer may consider necessary to give due publicity to the intended sale.
(12) The distrainer may in his discretion adjourn the sale to a specified day recording the reasons for such adjournment. Where a sale is adjourned for a longer period than fifteen days, a fresh proclamation under sub-rule (11) shall be made unless the agriculturist or his heir or legal representative consents to waive it.
(13) The purchaser shall not be permitted to carry away any part of the property until he has paid for it in full.
(14) Where any crop, produce or other movable property is distrained and sold in accordance with this rule, the moneys due to the credit agency including the expenses incurred for distraint and sale shall be deducted from the sale proceeds and the balance if any shall be paid to the agriculturist concerned.
(15) The agriculturist or his heir or legal representative shall be given a receipt for the amount appropriated from the sale proceeds.
(16) Where prior to the date fixed for sale, the agriculturist or his heir or legal representative or any person acting on his behalf or any person claiming an interest in the property distrained pays the full amount due including interest, and other expenses incurred in the distraint and sale of the property charged, the distrainer shall not proceed with the sale and shall release the property forthwith.
Rule4 Form of declaration
The declaration referred to in clause (i) of Section 6 shall be in Form 3.
Rule5 Registration of charge or mortgage under Section 9
A duly certified true copy of the document referred to in sub-section (1) of Section 6 creating charge or mortgage or varying such charge or mortgage created shall be sent by the credit agency concerned to the registering officer concerned within a period of three months from the date of execution of such document by registered post acknowledgement due.
Rule6 Prescribed officer
The prescribed officer for the purpose of Section 12 shall be the Assistant Registrar of Co-operative Societies having jurisdiction over the area in which the credit agency or branch of that agency, which has given financial assistance, is situated.
Rule7 Other sums to be specified
The credit agency shall specify in the notice referred to in clause (a) of sub-section (4) of Section 13, the following other sums, namely.
(i) interest payable upto the date of payment;
(ii) expenditure incurred for bringing the property to sale.
Rule8 Grant of certificate of sale
Where a credit agency purchases any mortgaged property in pursuance of the provisions of Section 13, the officer conducting the sale shall grant to it a certificate of sale bearing his seal and signature specifying the property sold. Such certificate shall be conclusive evidence of the fact of the sale of such property to the credit agency.
APPENDIX 1 FORM
FORM
FORM
1
[See
Rule 3(1)]
Application under Section 5 of the Karnataka
Agricultural Credit Operations
and Miscellaneous Provisions Act, 1974.
Before........(Distrainer)
1. Name of the Credit Agency.
2. Name
and address of the agriculturist, and if the agriculturist is dead the name of
the heir or legal representative should also be stated.
3. Amount of financial assistance given.
4. Date when the mortgage or charge was
created.
5. Date when the loan was actually given.
6. Total amount due (including interest),
payment, if any, made by the agriculturist along with the date of such payment.
7. Net amount due from the date of
application (including cost).
8. Description of the property mortgaged or
charged.
It is requested that the property hereinbefore
mentioned may be distrained and sold
and the amount due be paid to the credit agency.
Agency/Officer in-charge Manager.....
.....Bank.
APPENDIX 2 FORM
FORM
FORM
2
[See
Rule 3(3)]
To
Sri
Whereas, Sri.......borrowed
a sum of rupees.......on......as
financial assistance
from.......(specify the name of the credit agency)....
. .district by creating a
charge on the crops, produce or other movables specified below; and
Whereas the amount due
to the said credit agency has not been paid and the credit agency has made an
application (copy enclosed) that the properties specified below be distrained
and sold; you are therefore called upon to pay a sum of Rs. . . . within a
period of fifteen days from the date of service of this notice and/or show
cause why the property specified below be not distrained and sold and the
produce of the sale be
appropriated towards all the
moneys due to the credit agency from you together with the expenses of the
distraint and the cost of the sale.
APPENDIX 3 Form of declaration
FORM
FORM
3
Form
of declaration
[See
Rule 4]
I........aged. . .
.years son of.......residing at......being desirous of
taking financial assistance
from.......(here specify the name of the credit
agency) makes this declaration
as required by Section ft of the Karnataka Agricultural Credit Operations and
Miscellaneous Provisions Act, 1974 that I own land/immovable property or hold
land as specified in the Schedule below and I hereby mortgage create a charge
on such
land/immovable property in
favour of.......(here specify the name of
the credit agency) as
security for the payment of the amount of financial
assistance of
Rs.......sought by me and also for all future financial
assistance which the credit
agency may give me together with interest thereon and for all costs and
expenses in connection therewith.
I hereby declare that
the facts mentioned above are true to the best of my knowledge and belief.
Signature of the
Applicant.
Applicant's signature
attested by:
1.
2.
(here specify the name and address of witness).
SCHEDULE 1 SCHEDULE
SCHEDULE
SCHEDULE
Name of Village
Name of Taluk
Name of District
Survey No. City Survey No.
Boundaries
Plot No. Plot Hissa
South North Fast West
Area A.G.
Assessment Rs. Ps.
Approximate value
Encumbrances if any Nature Amount
Remarks
If the immovable property is not land, furnish full particulars of the immovable property.
1. Land owned and land held as tenant to be shown separately.
2. Strike out whichever is not applicable.
