24. Reversion to agriculture. –
(1) Whenever any land held by a Bhumidhar which is used for industrial purposes has become land used for purposes connected with agriculture, horticulture or animal husbandry, which includes pisciculture and poultry farming, the Deputy Commissioner on being so satisfied, may with the sanction of the Chief Commissioner make a declaration to that effect and thereupon the Bhumidhar shall, as respects the land, be subject to the provisions relating to devolution in this chapter.
(2) Upon the grant of the declaration under sub- section (1) in respect of any land any person other than the Bhumidhar in possession of the land shall –
(a) If he holds it under any contract or lese which is inconsistent with any of the provisions of this chapter, be deemed to be an occupant liable to ejectment under section 84.
(b) If he holds it under any contract or lease which is not inconsistent with any of the provisions of this chapter, be entitled to the rights in the land determined in accordance with the provisions thereof.
(3) Any contract or lease referred to in sub-clause (a) of sub section (2) which in inconsistent with the provisions of this chapter shall, to the extent of the inconsistency, become void with effect from the date of declaration:
Provided that any mortgage with possession existing on any such land shall, to the extent of the amount due and secured on such land , be deemed to have been substituted by a simple mortgage carrying such rate of interest as may be prescribed.