Section 13(1) in The Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974.
(1)Notwithstanding anything contained in any law for the time being in force, it shall be lawful for a credit agency to purchase agricultural land or interest therein or any other immoveable property which has been charged or mortgaged to it at a sale held in enforcement of the mortgage executed in its favour in respect of the financial assistance given when no person has offered to purchase it for a price which is sufficient to pay to the credit agency the moneys due to it and provisions of Chapter IV of the Karnataka Land Reforms Act, 1961 shall not be applicable in respect of the property so purchased.
