Amendment status not verified — confirm the current text below against the official source.
Right of Agriculture and Rural Development Bank or of the State Agriculture and Rural Development Bank to purchase mortgaged property.— (1) Notwithstanding anything contained in any law for the time being in force, it shall be lawful for a Agriculture and Rural Development Bank of State Agriculture and Rural Development Bank 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. CO-OPERATIVE SOCITIES ACT, 1989. 105 (2) Nothing in the Big Landed Estates Abolition Act, Samvat 2007, fixing a maximum limit of agriculture holding shall apply to the acquisition of land by a Agriculture and Rural Development Bank of State Agriculture and Rural Development Bank under sub-section (1).