Recovery of sums due to certain banks and other public bodies as arrears of land revenue.
1[52-A. Recovery of sums
due to certain
banks and other
public bodies as
arrears of land
revenue.-- (1) Without prejudice to any other mode of recovery
which is being taken or may be taken, all loans granted and
all advances made to any person-
(i) by any bank to which the re-payment of the said
loans and advances is guaranteed by the State
Government; or
(ii) by such Corporation established by or under a
Central or Provincial or State Act, or Government Company
as defined in section 617 of the
2Companies Act, 1956, or
such other public body, as may be notified in this behalf by
the State Government in the
3Telangana Gazette;
4[(iii) by any Bank under any welfare scheme or
programme, such as Prime Minister's Rozgar Yojana and
the like, sponsored by the State or Central Government as
may be notified therein in this behalf by the State
Government in the
3Telangana Gazette;]
together with interest on such loans and advances and
all sums, such as rents, margin money and the like, due to
the bodies mentioned aforesaid, may be recovered in the
same manner as arrears of land revenue under the
provisions of this Act:
Provided that the State Government may, by
notification in the
3Telangana Gazette, specify the loans and
advances, together with interest thereon, and other sums
due to the bodies mentioned in item (ii)
4[and item (iii)]
above which may be recoverable under the provisions of
this section.
Explanation.- In this sub-section, "bank" means any banking
company as defined in clause (c) of section 5 of the Banking
Regulation Act, 1949, and includes,-
(a) the Reserve Bank of India constituted under the
Reserve Bank of India Act, 1934;
(b) the State Bank of India constituted under the State
Bank of India Act, 1955;
(c) any subsidiary bank as defined in the State Bank of
India (Subsidiary Banks) Act, 1959;
(d) any corresponding new bank constituted under
section 3 of the Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970;
5[(e) any corresponding new Bank constituted under
the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1980.]
(2) Out of the proceeds of the dues pertaining to the
bodies mentioned in item (ii)
4[and item (iii)] of sub-section
(1) so recovered, ten per centum thereof shall be deducted
towards the collection charges and the balance shall be
paid by the Collector or other officer empowered by the
Collector in that behalf, to the respective bodies.]
1. Section 52-A inserted by Act No.18 of 1977.
2. See now the Companies Act, 2013 (Act No.18 of 2013).
3. Substituted by G.O.Ms.No.45, Law (F) Department, dated
01.06.2016.
4. Inserted by Act No.22 of 1997.
5. Added by Act No.22 of 1997.