Right of [an Agricultural Development Bank] or of the [Central Agricultural Development Bank] to purchase mortgaged property.

(1) Notwithstanding anything in any other law for the time being in force, it shall be lawful for [an Agricultural Development Bank] or the [Central Agricultural 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 the [Telangana Land Reforms (Ceiling on Agricultural Holdings Act, 1973)] fixing a maximum limit of agricultural holding shall apply to the acquisition of land by [an Agricultural Development Bank] or the [Central Agricultural Development Bank] under sub-section (1).