Section 413. (1 ) Whenever und er this Act or the rules or the regulations made

thereunder any person by reason of his –

(a) receiving the rent of any immovable properly as receiver or agent or
trustee of such property or
(b) being such receiver or agent or trustee would receive the rent if such
property were let to a tenant, is bound to discharge any obligation
imposed on the owner of such property but has not at his disposal
funds, belonging or payable to such owner, sufficient for the purpose of
discharging such obligation he shall within a period of six weeks from
the date of service upon him by any municipal authority or officer of the
Municipality empowered in this behalf under this Act, of any notice
requiring him to discharge such obligation apply to a court of competent
jurisdiction for leave to raise such funds or for such directions as he may
consider necessary for such purpose.

(2) If such receiver or age nt or trustee fails to apply to a court of competent
jurisdiction under sub -section (l) or after such c ourt has granted leave to raise
funds or has issued directions, fails to discharge such obligation or to comply
with such directions within twelve months of such leave or such directions he
shall be personally liable to discharge such obligation.

H. Payment of Compensation