Land Acquisition (Companies) Rules, 1963
matters which may be provided in the agreement under section 41.
prejudice to the provisions of rule 5, the terms of agreement referred to in
section 41 of the Act may also include the following matters, namely :—
before an award has been made under section 11 of the Act, the company shall
deposit with the Collector, free of interest, such amount [being not more than
two-thirds of the approximate amount of compensation payable in respect of the
land as determined under clause (ii) of sub-rule (2) of rule 4], and
within such time as the Collector thinks fit, to specify in this behalf.
any amount has been deposited with the Collector under sub-rule (1), the
Collector shall tender payment of the amount so deposited to the persons
interested who in the opinion of the Collector, are entitled to receive payment
of compensation under sub-section (1) of section 31 of the Act and shall pay it
to them, unless prevented by some one or more of the contingencies mentioned in
sub-section (2) of section 31 of the Act, subject to the following conditions,
execution of an agreement by each recipient that the amount received by him
exceeds the amount of the compensation finally awarded, the excess amount shall
be recoverable from him as an arrears of land revenue and that he shall not
claim any interest under the provisions of the Act in respect of the amount
received by him under this sub-rule; and
execution of a bond by each recipient with or without security as the Collector
may decide undertaking to indemnify the appropriate Government against any
claim for compensation or part thereof by any other person.
the amount deposited by the company under sub-rule (1) or any part thereof is
not paid under sub-rule (2) the Collector shall, as soon as practicable, refund
the same to the company.