Section 37 in The Punjab Co-operative Land Mortgage Banks Act, 1957
37. Officers of Mortgage Banks and Sale Officers not to bid at sale.
- At any sale of movable or immovable property held under the provisions of this Act in order to recover any money due to a Mortgage Bank, no Director, Secretary or other officer of such Bank (except on behalf of the Bank of which he is Director or Secretary or officer) and no sale officer or other person having any duty 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.
