Amendment status not verified — confirm the current text below against the official source.
Application for sale and manner of sale:- (1) In exercise of the power of sale conferred by section 75, the society or any person duly authorized by the society, may apply to the sale officer appointed in that behalf under section 84 to sell the mortgaged property or any part thereof and such officer shall, after giving notice in writing to all the persons referred to in section 75, sell such property in the manner prescribed subject to any previous charge on the basis of a registered deed. (2) The sale shall be by public auction and shall be held in the village *[or town] where the mortgaged property is situated or at the nearest place of public resort if the sale officer is of opinion that ** Section 74 – In sub section (1) proviso added by Act No. 19 of 2006. * Section 76 – In sub section (2) words ―or town‖ added by Act No. 19 of 2006. 31 the property is likely to fetch better price. (3) The Registrar may set aside a sale on the application of the mortgagor or any other person interested in the mortgaged property, presented to him within 30 days of the sale, if in his opinion there has been an illegality or material irregularity in conducting the sale. (4) On the sale being set aside by the Registrar under sub-section (3), a fresh sale shall be conducted in accordance with the provisions of this Chapter.