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.]
(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.