Section 78 Investment of money deposited in respect of lands belonging to person incompetent to alienate - The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013

Investment of money deposited in respect of lands belonging to person incompetent to alienate - Section 78 of Land Acquisition Act 2013

 

 

Investment of money deposited in respect of lands belonging to person incompetent to alienate is defined under section 78 of Land Acquisition Act 2013. Provisions under these Sections are:

 

Section 78 of Land Acquisition Act 2013 "Investment of money deposited in respect of lands belonging to person incompetent to alienate"

(1) If any money is deposited in the Authority concerned under sub-section (2) of section 77 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 Authority concerned 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 of other approved securities as the Authority concerned 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 money deposited to which this section applies the Authority concerned shall order the costs of the following matters, including therein all reasonable charge 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 the Authority concerned of the principal of such moneys, and of all proceedings relating thereto, except such as may be occasioned by litigation between adverse claimants.