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16. Consequences of acquisition of Bhumidhari rights by mortgagees etc, under section 15.- Notwithstanding anything contained in any other law for the time being in force or in any mortgage deed or other instrument or agreement, where a proprietor mortgagor fails to apply for the redemption of his mortgage within the time specified in sub section (1)of section 15 and the mortgagee and tenants, if any, in respect of the mortgaged property or any portion thereof are declared Bhumidhars in accordance with the provisions of sub section (3) or sub section (4) as the case may be, of that section, the following consequences shall follow, namely:-

(1) The proprietor mortgagor shall be absolutely debarred of his right to redeem the mortgage;

(2) The mortgagee and the tenants, if any; in respect of the mortgaged property or any portion thereof, who have been declared as Bhumidhars as aforesaid, shall pay to the proprietor mortgagor compensation which shall be determined as follows:

(a) The amount of compensation payable by the mortgagee and each of the tenants, if any, shall be determined separately in accordance with the provisions laid down in clauses (a) and (b) of sub section (2) of section 14 for determining the amount of compensation, payable by a Bhumidhar;

(b) The amount of compensation as determined under clause (a) payable by each of the tenant shall be paid by him to the proprietor mortgagor through court either in one lump sum or in installments in the manner laid down in sub section (4) of section 14;

(c) The total amount due from the proprietor mortgagor to the mortgagee under the mortgage deed on the date of the commencement of this Act shall then be determined in the prescribed manner after deducting the receipts if any, by the mortgagee from the mortgaged property;

(d) If the amount of compensation payable by the mortgagee to the proprietor mortgagor to the proprietor mortgagor is greater than the amount determined under clause (c) the mortgagee shall pay through court to the proprietor mortgagor as compensation the difference between the two in one lump sum; within six months from the date of the order and where the amount of compensation payable by the mortgagee is less than the amount determined under clause (c), the entire mortgage money with interest , if any thereon, shall be deemed to have been fully satisfied by the enjoyment of the usufruct of the mortgaged property and the proprietor mortgagor shall not be required to pay anything under the mortgage deed to the mortgagee.

(3) Where a tenant mortgagor, referred to in sub section (5) of section 15, fails to apply for redemption within the period specified in sub section (1) and of clause (a) of sub section (2) shall apply mutatis mutandis and the amount of compensation payable by the mortgagee and his tenants, if any, in respect of mortgaged land in possession of each to the proprietor shall be determined separately, in accordance with the provisions of clauses (a) and (b) of sub section (2) of section 14 . The compensation so determined shall be paid as follows: --

(i) Where the mortgagor tenant is an occupancy tenant under section 5 of the Punjab Tenancy Act, 1887, or a Pattadar Dawami or Istamrari with right of transfer by sale, the amount due from the mortgagor to the mortgagee under the mortgage shall also be determined in accordance with clause (c) of sub section (2). The mortgagee or his tenants shall each first pay out of the total compensation determined above, an amount equal to four times the land revenue payable for the land in his possession immediately before the commencement of this Act, to the proprietor, If the balance of the compensation payable by the mortgagee and his tenants, is greater than the amount due to the mortgagee from the mortgagor under the mortgage, the difference shall be paid by the mortgagee and his tenants, as compensation to the mortgagor tenant in one lump sum within six months from the date of the order, first by the mortgagee’s tenant upto the extent of the amount left over , if any If it is less, the entire mortgage money with interest shall be deemed to have been fully satisfied by the enjoyment of the usufruct and nothing shall be payable to the mortgagee in adjustment of the mortgage money.

(ii) Where the mortgagor tenant is a tenant, other than an occupancy tenant under section 5 of the Punjab Tenancy Act, 1887, or a Pattadar Dawami or Istamrari with right of transfer by sale, the entire amount of compensation payable by the mortgagee and his tenants, if any, shall be paid direct to the proprietor of the mortgagor tenant and the mortgage money, shall be deemed to have been fully satisfied by the enjoyment of the usufruct.

 

 

 

 

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