catchwords: Penalty – Takes or accepts any loan or deposit – Farmer’s co-op. society
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Penalty – Takes or accepts any loan or deposit – Farmer’s co-op. society
Under Section 271, recording of satisfaction before initiation of penalty in the course of proceedings is a condition precedent for imposition of penalty for specified defaults. Under Sections 271D and 271E there is no such requirement of recording of satisfaction in the course of any proceeding