Section 92 in Jammu and Kashmir Co-Operative Societies Act, 1989
92. Right of Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank to purchase mortgaged property.
(1)Notwithstanding anything contained in any law for the time being in force, it shall be lawful for an Agriculture and Rural Development Bank or State Agriculture and Rural Development Bank to purchase any mortgaged properly sold under this Chapter, and the property so purchased shall be disposed of by such bank by sale within such period as may be fixed by the Trustee.(2)Nothing in the Big Landed Estates Abolition Act, Samvat 2007, fixing a maximum limit of agriculture holding shall apply to the acquisition of land by an Agriculture and Rural Development Bank or State Agriculture and Rural Development Bank under sub-section (1).
