Section 12(1) in The Gujarat Agricultural Credit (Provision of Facilities) Act, 1979
(1)Notwithstanding anything contained in any law for the time being in force, a bank shall have power to itself to acquire agricultural land or interest therein on which a charge or mortgage has been created in its favour by an agriculturist in respect of any financial assistance availed of by him, provided the said land or interest therein has been sought to be sold by public auction and no person has offered to purchase it for a price which is sufficient to pay to the bank the moneys due to it:Provided that no such land or interest herein shall be sought to be sold by public auction, by the bank, without the previous permission in writing of the Collector of the district in which such land is situated.
