Amendment status not verified — confirm the current text below against the official source.
Bidding prohibited.— (1) No member or employee of the Panchayat or Zilla Panchayat or any officer having any duty to perform in connection with the sale of movable or immovable property under this Act shall directly or indirectly bid for or acquire interest in, any property sold at such sale. 162(2) Any person who contravenes the provisions of sub-section (1) shall, on conviction, be punished with fine which may extend to five hundred rupees, and if he is an officer or employee of the Panchayat or Zilla Panchayat, shall also be liable for dismissal from service. [(2) Any person who contravenes the provisions of sub-section (1) shall be liable to a penalty which may extend to five thousand rupees; and if such person is an officer or employee of the Panchayat or Zilla Panchayat, he shall also be liable for dismissal from ---86--- service in accordance with the applicable service rules.]