Section 139 in The Maharashtra Co-Operative Societies Act, 1960
139. [ Officers or members of family not to bid at auction sales. [Section 139 was substituted for the original by Maharashtra 20, of 1986, Section 56.]
- At any sale of movable or immovable property, held under the provisions of this Chapter, no officer or employee or any member of the family of such officer or employee of [a Co-operative Agriculture and Rural Multipurpose Development Bank] except on behalf of the bank of which he is an officer or an employee, and no person having any any to perform in connection with such sale, shall either directly or indirectly bid for or acquire or attempt to acquire any interest in such property.Explanation. - For the purposes of this section, the expression "member of the family" means wife, husband, father, mother, bother, sister, son, daughter, son-in-law or daughter-in-law].
