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The U P Sahkari Gram Vikas Bank Act 1964

उत्तर प्रदेश सहकारी ग्राम विकास बैंक अधिनियम, 1964

Uttar Pradesh
Act number
16 of 1964
Department
Cooperative
Enacted
20 Jul 1964

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

38 sections

  1. Section 1Short title, extent and commencement
  2. Section 2Definitions
  3. Section 3Number of Gram Vikas Banks
  4. Section 4Appointment of Trustee and his powers and functions
  5. Section 5Trustee to be a Corporation Sole
  6. Section 6Issue of debentures by the Board
  7. Section 7Vesting of property in Trustee and Debenture -holders charge on the assets
  8. Section 8Guarantee by State Government of Principal and interest of the money to be borrowed by means of debentures or otherwise
  9. Section 9Guarantee Fund
  10. Section 9-APower to borrow money
  11. Section 10Priority of mortgage over certain claims
  12. Section 11Right of Gram Vikas Banks or of the Uttar Pradesh Gram Vikas Bank to purchase mortgaged property
  13. Section 12Mortgages executed in favour of Gram Vikas Bank to stand vested in Uttar Pradesh Gram Vikas Bank
  14. Section 13Power of Uttar Pradesh Gram Vikas Bank to receive moneys and grant discharges
  15. Section 14Right of Gram Vikas Banks to pay prior debts of mortgagor
  16. Section 15Distraint when to be made
  17. Section 16Power of sale when to be exercised
  18. Section 17Power of Gram Vikas Bank where mortgaged property destroyed or security becomes insufficient
  19. Section 18Power of Board or of Trustee to distrain and sell property, etc
  20. Section 19Title of purchaser not to be questioned on the ground of irregularity, etc
  21. Section 20Mortgage not to be questioned on insolvency of mortgagor
  22. Section 21Appointment of receiver and his powers
  23. Section 21-AVesting of rights of alienation on agriculturists not having such rights
  24. Section 21-BCreation of charge in favour of Gram Vikas Bank or Uttar Pradesh Sahkari Gram Vikas Bank
  25. Section 21-CProvisions of this Act to apply to hypothecation
  26. Section 22Restriction on mortgagor's power to lease or to create other rights in the mortgaged and charged property
  27. Section 23Registration of documents executed in favour of Gram Vikas Bank or The Uttar Pradesh Gram Vikas Bank
  28. Section 23-ARevenue register for noting charge or mortgage
  29. Section 24Delegation of certain powers by Board
  30. Section 25Sections 102, 103 and 104 of the Transfer of Property Act, 1882 to apply to notices under this Act
  31. Section 26Mortgages executed by manager of Joint Hindu Families
  32. Section 27Modification subject to which section 8 of the Hindu Minority and Guardianship Act, 1956 shall apply to the mortgages under this Act
  33. Section 28References to banks in other Acts how construed
  34. Section 28-AReferences to banks in other Acts now construed after the commencement of the Uttar Pradesh Sahkari Krishi Evam Gramya Vikas Banks (Amendment) Act, 1994
  35. Section 29Power of the Board to make regulations
  36. Section 30Power of State Government to make rules
  37. Section 31Trustee and others to be public servant
  38. Section 32Public servant not to bid at sale