Section 139 in Jammu and Kashmir Co-Operative Societies Act, 1989
139. Mortgage not to be questioned in insolvency of mortgagor.
- Notwithstanding anything contained in any law relating to insolvency, mortgage executed in favour of Housing Society or Housefed shall not be called in question on the ground that it was not executed in good faith for valuable consideration or on the ground that it was executed in order to give the Housing Society or HOUSEFED a preference over other creditors of the mortgagor.
