Section 121 in The Constitution of Jammu and Kashmir
121. Powers to carry on trade etc.
(1)The executive power of the State shall extend, subject to any law made by the State Legislature, to the carrying on of any trade or business and to the grant, sale, disposition or mortgage of any property held for the purposes of the State, and to the purchase or acquisition of property for those purposes and to the making of contracts.(2)All property acquired for the purposes of the state shall vest in the state.
