Section 86(1) in The Orissa Co-operative Societies Act, 1962
(1)Notwithstanding anything contained in any law for the time being in force, it shall be lawful for a [Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act 23 of 1994, Section 5.] or the [State Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act 23 of 1994, Section 5.] to purchase any mortgaged property sold under this Chapter, and the property so purchased shall be disposed of by such bank by sale within such period as may be fixed by the Trustee.
