I am helping a good public charitable trust to by an Agricultural Land in Maharastra for Educational and Religious work.
The land we have selected belongs to "New Tenure". So the sale deed on the name of the trust can only haapen after its Tenure conversion. But the Trust need to invest money for tenure conversion and on the advance payments to owners of the land.
I want to know can a registered public charitable Trust give money as loan by keeping Agricultural Land on registered mortgage from a farmer.
This is necessary to give security to the trust's valuable money, as we can only enter into sale deed after Tenure conversion of such land which takes indefinite time.
Please give proper advice, along with reference from law books or court decission or GR.
With regards,
Bhaskar
