Section 127(2) in Jammu and Kashmir Co-Operative Societies Act, 1989
(2)The Sale Officer shall sell such property by public auction in the place in which the mortgaged property is situated or at the nearest place of public resort, if the Sale Officer is of opinion that auction of the property at such place is in the interest of the owner thereof:Provided that no person who is not a permanent resident of the State shall be eligible to bid or otherwise participate in the auction.
