You are viewing the translated version of ऋण असुल गर्ने.
Section 79
Debt recovery
: (1) If a member does not comply with the loan agreement or acceptance of conditions made with the cooperative organization, if the loan amount, interest and damages are not paid within the terms of the document, or if it is found that the borrowed money has been embezzled by not using it for the related work, the mortgage held by such member while taking the loan shall be related to The cooperative organization can recover its principal, interest and damages through auction sale or any other arrangements.
(2) If the mortgage held by a member in a cooperative organization is transferred to someone in any way or if the value of such mortgage decreases due to any other reason, such debtor may be asked to keep additional mortgage security by giving a certain period.
(3) If the debtor does not provide additional collateral as per sub-section (2) or if the amount of principal, interest and damages cannot be recovered from the collateral as per sub-section (1) or (2), the principal, interest and damages can also be recovered from other assets to which such debtor is entitled. .
(4) In accordance with this section, the amount of the expenses incurred in the collection of principal, interest and damages and the amount of principal, interest and damages incurred after deducting the remaining amount shall be returned to the respective debtor.
(5) According to this section, when a cooperative organization auctions the debtor's securities or other equity, it shall send a written notice to the concerned office to cancel the registration or filing of the securities or other equity in the name of the auctioneer in accordance with the prevailing law, and the relevant office shall cancel the registration or filing accordingly. The information should be given to the relevant cooperative organization.
(6) If no one takes possession of the mortgaged property in accordance with this section, the related cooperative organization may take possession of such property itself.
(7) If he realizes himself according to sub-section (6), he shall send such property in writing to the concerned office to cancel the registration or filing in the name of the related cooperative organization and if such a written notice is received, the concerned office shall cancel the registration or filing accordingly.
(8) Other arrangements related to debt recovery shall be as prescribed.
(2) If the mortgage held by a member in a cooperative organization is transferred to someone in any way or if the value of such mortgage decreases due to any other reason, such debtor may be asked to keep additional mortgage security by giving a certain period.
(3) If the debtor does not provide additional collateral as per sub-section (2) or if the amount of principal, interest and damages cannot be recovered from the collateral as per sub-section (1) or (2), the principal, interest and damages can also be recovered from other assets to which such debtor is entitled. .
(4) In accordance with this section, the amount of the expenses incurred in the collection of principal, interest and damages and the amount of principal, interest and damages incurred after deducting the remaining amount shall be returned to the respective debtor.
(5) According to this section, when a cooperative organization auctions the debtor's securities or other equity, it shall send a written notice to the concerned office to cancel the registration or filing of the securities or other equity in the name of the auctioneer in accordance with the prevailing law, and the relevant office shall cancel the registration or filing accordingly. The information should be given to the relevant cooperative organization.
(6) If no one takes possession of the mortgaged property in accordance with this section, the related cooperative organization may take possession of such property itself.
(7) If he realizes himself according to sub-section (6), he shall send such property in writing to the concerned office to cancel the registration or filing in the name of the related cooperative organization and if such a written notice is received, the concerned office shall cancel the registration or filing accordingly.
(8) Other arrangements related to debt recovery shall be as prescribed.