Amendment status not verified — confirm the current text below against the official source.
In all cases of sale of immovable property, the party who is declared to be the purchaser shall be required to deposit immediately 25% of the amount of h is bid, and the balance with in 15 days of the da. ' or sale. (I) In default of the payment of the deposit refern ,In Section 19 the property shall be put up for re-sale and the expenses inc.. . I in connection with the first sale shall be borne by the defaulting bidder. (2) In default of payment of the balance of the bid amount within --hp period prescribed in Section 19, the deposit after defraying therefrom tl., expenses of the sale shall be forfeited and the property shall be re-sold. (3) When the proceeds of the re-sale are less than the arrear of public demand the difference shall be bridged, as far as practicable, by the balance amount of the deposit forfeited under sub-section (2). However, if there is no difference and the re-sold value is enough to meet the arrear of public demand or the difference is such it does not require entire for-feited amount then the forfeited deposit or part thereof, as the case may be, shall vest with the State Government.