After getting recovery certificate under section 101 of the above act. I want to know about few things about above act.
1) Within how many days’ notice 107 should be issued.
2) After issue of notice under section 107, what is time limit that the property should be taken in to possession?
3) After taking the property possession, what is the time limit for disposal of property?
I C Naik
You have got wrong information about 101.
Question of the society taking over property of the defaulter does not arise under this Section. After giving Notice to a defaulter for clearing over-dues and after expiry of 3 months there of if a defaulter does not clear the dues, action under Section 101 arises. The society has to apply to the Registrar to certify the overdue amount which is titled as RECOVERY CERTIFICATE . This certificate is to be forwarded to the Government appointed recovery officer who will take steps to recover the dues as if it was land revenue recovery by the Government.