Section 2(2) in The Jammu and Kashmir Restitution of Mortgaged Properties Act, 1976
(2)Nothing is this Act shall apply to-(i)mortgage of lands for which provisions for redemption have been made in Jammu and Kashmir Agrarian Reforms Act, 1976;(ii)mortgages held by the State land Development Bank, or Land Development Bank as defined in the Jammu and Kashmir Co-operative Societies Act, 1960oi any institution mentioned in section 4 (A) of the Jammu and Kashmir Alienation of Land Act, Svt, 1995 or section 140 of the Jammu and Kashmir Transfer Property Act, 1977;(iii)mortgages held by or on behalf of the Governor or the Government of Jammu and Kashmir;(iv)mortgages held by or on behalf of President of India or the Government of India; and(v)mortgages held by or on behalf of such other institutions in the State as may be notified by the Government.Explanation. - A mortgage shall be deemed to be subsisting notwithstanding decree or order for its redemption or foreclosure or sale or auction having been passed:Provided that redemption or foreclosure of sale or auction as the case may be, has not taken place before the commencement of this Act.
