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Section 32 Investment of money deposited in respect of lands belonging to persons incompetent to alienate, Section 33 Investment of money deposited in other cases - Land Acquisition Act 1894

How to do Investment of money deposited in respect of lands belonging to persons incompetent to alienate? How to do Investment of money deposited in other cases? Section 32 and 33 of Land Acquisition Act 1894

Investment of money deposited in respect of lands belonging to persons incompetent to alienate and Investment of money deposited in other cases are defined under section 32 and 33 of Land Acquisition Act 1894. Provisions under these Sections are:

 

 

Section 32 of Land Acquisition Act 1894 "Investment of money deposited in respect of lands belonging to persons incompetent to alienate"

(1) If any money shall be deposited in Court under sub-section (2) of the last preceding section and it appears that the land in respect whereof the same was awarded belonged to any person who had no power to alienate the same, the Court shall-

(a) order the money to be invested in the purchase of other lands to be held under the like title and conditions of ownership as the land in respect of which such money shall have been deposited was held, or

(b) if such purchase cannot be effected forthwith, then in such Government or other approved securities as the Court shall think fit;

and shall direct the payment of the interest or other proceeds arising from such investment to the person or persons who would for the time being have been entitled to the possession of the said land, and such moneys shall remain so deposited and invested until the same be applied-

(i) in the purchase of such other lands as aforesaid; or

(ii) in payment to any person or persons becoming absolutely entitled thereto.

(2) In all cases of moneys deposited to which this section applies the Court shall order the costs of the following matters, including therein all reasonable charges and expenses incident thereon, to be paid by the Collector, namely:-

(a) the costs of such investments as aforesaid;

(b) the costs of the orders for the payment of the interest or other proceeds of the securities upon which such moneys are for the time being invested, and for the payment out of Court of the principal of such moneys, and of all proceedings relating thereto, except such as may be occasioned by litigation between adverse claimants.

 

Section 33 of Land Acquisition Act 1894 "Investment of money deposited in other cases"

When any money shall have been deposited in Court under this Act for any cause other than that mentioned in the last preceding section, the Court may, on the application of any party interested or claiming an interest in such money, order the same to be invested in such Government or other approved securities as it may think proper, and may direct the interest or other proceeds of any such investment to be accumulated and paid in such manner as it may consider will give the parties interested therein the same benefit therefrom as they might have had from the land in respect whereof such money shall have been deposited or as near thereto as may be.

 

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