(1)

If any instalment payable under a mortgage executed in favour of a [Land Development Bank] [Substituted for the words 'Land Mortgage Bank' by Gujarat 24 of 1964], or any part of such instalment, has remained unpaid for more than one month from the date on which it fell due, the committee of such bank may, in addition to any other remedy available to the bank, apply to the Registrar for the recovery of such instalments or part thereof by distraint and sale of the produce of the mortgaged land, including the standing crops thereon.

(2)

On receipt of such application the Registrar may, notwithstanding anything contained in the Transfer of Property Act, 1882, take action in the manner prescribed for the purpose of distraining and selling such produce subject to the prior charge of the society :

Provided that, no distraint shall be made after the expiry of twelve months from the date on which the instalment fell due.

(3)

The value of the property distrained shall as nearly as possible be equal to the amount due and the expenses of the distraint and the costs of the sale.