Officers of bank not to bid at sales

At any sale of movable or immovable property held under the provisions of this Act for the recovery of any money due to the Agricultural Development Bank or any primary bank, no Director, Managing Director, Secretary or other Officer of the Agricultural Development Bank or such primary bank, as the case may be (except on behalf of the bank of which he is a Director, Managing Director, Secretary or other Officer), and no sale officer or other person having any duty to perform in connection with such sale, shall, either directly or indirectly, bid for or acquire or attempt to acquire any interest in such property.