Section 147 in The Tamil Nadu Co-Operative Societies Act, 1983
147. Officers or servants of registered societies and sale officers not to bid at sales.
- At any sale of movable or immovable property held for the recovery of any money due to a registered society, no officer or servant of such society or of the financing bank (except on behalf of the society or of the financing bank of which he is an officer or servant) 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.
