Certain transfer of immovable property

The provisions of sections 4 and 5 shall not apply to any transfer made by way of mortgage of any immovable property situated in a disturbed area in favor of a financial institution for the purpose of obtaining financial assistance from such institution. Explanation.- For the purposes of this section, “financial institution” means- (i) any Scheduled Bank as defined in section 2 of the Reserve Bank of India Act, 1934 (Central Act No. 2 of 1934); (ii) any public financial institution as defined in section 2 of the Companies Act, 2013 (Central Act No. 18 of 2013); (iii) any Co-operative Bank registered under the Rajasthan Co-operative Societies Act, 2001 (Act No. 16 of 2002) or the Multi-State Co-operative Societies Act, 2002 (Central Act No. 39 of 2002); (iv) the Housing Development Finance Corporation Limited or any other housing finance institution as defined in the National Housing Bank Act, 1987 (Central Act No. 53 of 1987); (v) any Non-Banking Financial Company registered with the Reserve Bank of India; and (vi) any other institution as the State Government may, by notification in the Official Gazette, specify in this behalf.