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 the State Agriculture and Rural Development Bank or an 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. (2) Nothing in any law fixing a maximum limit of agricultural holding shall apply to the acquisition of land by an Agriculture and Rural Development Bank or the State Agriculture and Rural Development Bank under sub-section (1).