A written order by the Land Development Bank, or any person or
committees authorised under the bye-laws of the Bank to make loans for
all or any of the purposes specified in section 67, 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, 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, as the case may be, within the meaning of section 67;
(b) that the person had, on the date of the order, a right to make such an improvement, or incur expenditure for productive purpose, as the case may be; and
(c) that the improvement is one benefiting the land specified and productive purpose concerns the land offered in security, or any part thereof as may be relevant.
(a) that the work described or the purpose for which the loan is granted is an improvement or productive purpose, as the case may be, within the meaning of section 67;
(b) that the person had, on the date of the order, a right to make such an improvement, or incur expenditure for productive purpose, as the case may be; and
(c) that the improvement is one benefiting the land specified and productive purpose concerns the land offered in security, or any part thereof as may be relevant.