Section 123(1) in West Bengal Co-operative Societies Act, 2006
(1)The bank or the Co-operative society; as the case may be, shall be competent to purchase any mortgaged property sold under this chapter, but such property shall be disposed of by such bank or the Co-operative society, as the case may be, by sale within one year from the date of purchase or where a trustee has been appointed, the bank or the Co-operative society, as the case may be, shall dispose of the property by public auction unless otherwise directed by the trustee, on the date not later than one year from the date of purchase.
