Uttar Pradesh Agricultural Credit Act, 1973

In this book, the author has made an attempt to examine, analyse and elucidate the various provisions of this Act. It explains in clear and candid language how financial assistance can be obtained by an agriculturist from a bank and how the law ensures its speedy recovery. Amendments and case-law are incorporated till the date of publication of the book.

• Pioneer : Originally penned in 1975 just after the enactment of the U.P. Agricultural Credit Act of 1973, the present book is a revised and enlarged edition of the same. It has indeed covered all the major aspects of Agricultural Credit in U.P.
  
  Another important aspect covered by the book is 'The Legal Difficulties ', which the agriculturists and the banks are likely to encounter, and the rights and the duties which can be exercised and performed by these debtors and the creditors.
  
  This book will prove to be of immense help to the banks, the borrowers, and to the members of the Bench and the Bar who are directly involved in the various operations and activities carried out in the field of agricultural credit in Uttar Pradesh.

PRERACE TO THE FOURTH EDITON V
PREFACE TO THE FIRST EDITION VII
TABLE OF CASES XII
PREAMBLE 1

CHAPTER I : PRELIMINARY
Short title, extent and commencement 5
Definitions 8

CHAPTER 2 : RIGHTS OF AGRICULTURIST TO ALLIENATE LAND OR INTEREST IN LAND IN FAVOUR OF BANKS
Vesting of rights of alienations on agriculturists
not having such rights 29
Charge on crop and other movable property in favour of a bank 37
[Omitted] 43
Creation of charge on land in favour
of a bank by declaration 43
Transfer of charge or mortgage to land
allotted during consolidation operations 48

CHAPTER 3 : CHARGES AND MORTGAGES IN FAVOUR OF BANKS AND THEIR PRIORITIES
Removal of disability in creation of
charges and mortgages 50
Priority of charges and mortgages in favour of Government,
a bank and a co-operative society 53
Registration of charge and mortgage in favour of bank 56
Nothing of charge or mortgage in the record-of-rights 67
Registration of discharge certificates 69
Restriction on creation of tenancy
by an agriculturist borrower 70

CHAPTER 4 : RECOVERY OF DUES BY BANKS
Removal of bar to attachment and sale
by process of court 73
Distraint and sale of produce and movable 75
Recovery of dues of a bank through a Prescribed Authority 83
Recovery in the case of personal security 91
Appeal 105
Rights of bank to acquire and dispose of immovable property 108
Recovery of dues from legal representatives 111
Recovery of dues from sureties 113

CHAPTER 5 : FINANCING OF CO-OPERATIVE SOCIETY BY BANKS
Definition of Registrar 114
Bank eligible to become member of a co-operative society 115
Power of co-operative societies to borrow from bank 118
Inspection of books of a co-operative society by a bank 118
Disputes between a bank and a co-operative society 117
Settlement of disputes 121
Decision of Registrar or his nominee 123
Recovery of money award 126
Powers of a bank to proceed against defaulting
members of a co-operative society 126
Audit, inspection and inquiry reports of societies
to be available to banks 129

CHAPTER 6 : MISCELLANEOUS
Exemption from legislations relating to money
lending and agriculturist' debt relief 130
Mortgage executed by managers of joint Hindu family 131
Modified application of Section 8 of Act XXXII of 1956 133
Application of Sections 4, 5 and 12 of Act No. 36 of 1963
Power of State Government to make rules 137
SCHEDULE :
U.P. Agricultural Credit Rules, 1975 141
APPENDICES
The United Provinces Regulation of Agricultural Credit Act,
1940 (U.P. Act 14 of 1940) 156
The Banking Service Commission Act, 1984 (44 of 1978) 157
The Regional Rural Bank Act, 1976 (21 of 1976) 169
Notification under Section 2(c)(ix) of the Act 181
Notification under Section 2(c)(ix) of the Act 182
First Notification for exemption from stamp duty 182
Second Notification for exemption from stamp duty 183
Third Notification for exemption from stamp duty 184
Fourth Notification for exemption from stamp duty 185
Fifty Notification for exemption from stamp duty 186
Sixth Notification for exemption from stamp duty 187
Seventh Notification for exemption from stamp duty 188
Eighth Notification for exemption from stamp duty 189
Notification regarding the commencement of the
U.P. Agricultural Credit Act, 1973 190
Notification under Sections 3, 5 11 and 12 of
U.P. Agricultural Credit Act, 1973 190
Notification No. I.F.-1329/X-12/73, dated May 3, 1975 191
Notification No. I.F.-1328/X-119/74, dated May 3, 1975 191
Notification under Section 58(f) of
Transfer of Property Act, 1882 191
Notification under Section 58(F) of the
Transfer of Property Act, 1882 192
Extracts from the Indian Stamp Act, 1899,
as amended in its application to Uttar
Pradesh by U.P. Act 20 of 1974 192
The Uttar Pradesh Public Moneys
(Recovery of Dues) Act, 1972 197
Notification under U.P. Public Moneys
(Recovery of Dues) Act, 1972 201
Notification under Revenue Recovery
(U.P. Amendment) Act, 1965 204
The Uttar Pradesh Co-operative Land
Development Banks Act, 1964 206
The Uttar Pradesh Co-operative
Land Development Banks Rules, 1971 217
SUBJECT INDEX 230