Amendment status not verified — confirm the current text below against the official source.
Purchase on nominal bid.— Where at any sale held under the provisions of this Chapter, there is no bidder or the bids made are inadequate or nominal, it shall be lawful for the Collector to authorise any of his subordinates to purchase such property on behalf of the Government for such bid as such subordinate may make: Provided that, if the property so purchased is subsequently sold by the Government within twelve years of the purchase, the following amounts shall be recovered from the sale proceeds and the surplus, if any, shall be paid to the person whose property has been sold, namely:— (a) dues, that is, the principal outstandings with interests; (b) loss of revenue, if any, caused to the Government during the period the land remains with the Government and no person takes it on lease or otherwise; (c) actual expenditure incurred in the auction sale; (d) penalty equal to one-fourth of the principal.