Section 10. Exemption of improvements from assessment to land revenue

When a loan is granted under this Act to the members of a village community or to any other person on such terms that all of them are jointly and severally bound to the State Government for the payment of the whole amount payable in respect there of and a statement showing the portion of the amount which as among themselves each is bound to contribute is entered upon the order granting the loan and is signed by each of them and by the officer making the order that statement shall be conclusive evidence of the portion of than amount which as among themselves each of those persons is bound to contribute.