Section 89F in Karnataka Co-Operative Societies Act, 1959
89F. Officers of banks not to bid at sales.
- At any sale of movable or immovable property, held under the provisions of this Chapter, no officer or employee of an [Agriculture and Rural Development Bank] [Substituted by Act 5 of 1984 w.e.f. 09.01.1984.] or the [State Agriculture and Rural Development Bank] [Substituted by Act 5 of 1984 w.e.f. 09.01.1984.], except on behalf of the bank of which he is an officer or an employee, and no 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.
