119. Order granting loan conclusive on certain matters.- A written order by the Agriculture and Rural Development Bank, or persons or committee authorised under the by-laws of the Bank to make loans for all or any of the purposes specified in section 111, granting, either before or after the commencement of this Act, a loan to or with the consent of a person mentioned therein, for the purpose of carrying out the work specified therein for the benefit of the land or for the productive purpose or for the purpose of dwelling house in rural area specified therein, shall for the purposes of this Act be conclusive of the following matters that is to say,- (a) that the work described or the purpose for which the loan is granted, is an improvement or productive purpose, or for the purpose of dwelling house in rural area, as the case may be, within the meaning of section 111;
(b) that the person had at the date of the order a right to make such an improvement or incur expenditure for the productive purpose, or for the purpose of dwelling house in rural area, as the case may be; and
(c) that the improvement is one benefiting the land or such dwelling house specified and productive purpose or for the purpose of dwelling house in rural area, concerns the land or such dwelling house offered in security, or any part thereof as may be relevant.
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