Section 119 in The Tamil Nadu Co-Operative Societies Act, 1983
119. Power of sale without the intervention of Court.
- Notwithstanding anything contained in the Transfer of Property Act, 1882 (Central Act IV of 1882), where a power of sale without the intervention of the Court is expressly conferred on the Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank by the mortgage deed or any other document, the board of the Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank shall, in case of default in utilisation of loan or part thereof or in case of default of payment of the mortagage money or any part thereof, have power, in addition to any other remedy available to the bank, to bring the mortgaged property to sale, without the intervention of the Court in the manner prescribed.
