Section 126(2) in Jammu and Kashmir Co-Operative Societies Act, 1989
(2)No such power, shall be exercised unless. -(a)notice in writing requiring payment of such mortgage money or part thereof has been served upon.-(i)the mortgagor or each of the mortgagors;(ii)any person who has any interest or charge upon the mortgaged property or in or upon right to redeem the same so far as known to the Board;(iii)any surety for the payment of the mortgage debt or any part thereof; and(iv)any creditor of the mortgagor who has in a suit for the administration of his estate obtained a decree for the sale of the mortgaged properly;(b)default has been made in payment of such mortgaged money or part thereof for three months after service of the notice.
