Section 144 in Uttarakhand Co-Operative Societies Act, 2003
144. Powers of sale when to be exercised.
(1)Notwithstanding anything contained in the Transfer of property Act 1882, where a power of sale without the intervention of court is expressly conferred on Uttarakhand State co-operative Bank by a declaration of charge made or mortgage deed executed before or after the commencement of this Act, the managing committee of the bank or any person authorized by such committee in this behalf shall, in case of default in payment of the money due under the mortgage or charge, or any part thereof, have power, in addition to any other remedy available to the bank, to sell the property (subject to any mortgage or charge) without the intervention of court.(2)No such power shall be exercised unless---(a)A notice in writhing requiring payment of such money has been served upon-(i)the mortgagor or each of the mortgagors;(ii)any person who has to the knowledge of the bank any interest in or charge upon the property mortgaged or right to redeem the same;(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 sale of the mortgaged property;(b)default in payment of such mortgage money or part thereof continues beyond three months after such service, and(c)the Bank has after hearing the objection if any, of the mortgagor or any other person mentioned in clause (a) authorized the exercise of such power.(3)A sale under this section shall be conducted in such manner, as may be prescribed.(4)Where any property sold under this Act, is in the occupancy of any person creating mortgage or charge or of some person on his behalf, or some person claiming title subsequent to the creation of such mortgage or charge in favour of Uttarakhand State co-operative Bank, the Collector shall on the application of he purchaser order delivery to be made by putting such purchaser or any person appointed by him in this behalf, in possession of he property.(5)A sale under this section of an agricultural holding or any other immovable property or any interest therein shall be subject to the provisions of Land law prevailing in Uttarakhand State.
