Section 124(1) in The Orissa Co-operative Societies Rules, 1965
(1)When any immovable property is sold under the rules the sale shall be subject to the prior encumbrances of the property, if any. The sale shall be by public auction to the highest bidder provided that it shall be upon to the Sale Officer to decline to accept highest bid where the price offered appears to be unduly low or for other reasons to be recorded in writing and provided also that the Principal Officer or the Sale Officer may in his discretion, adjourn the sale to a specified day and hour, recording his reasons for such adjournment. Where a sale is so adjourned for a longer period than 15 days or where there is a service of short adjournments which taken in aggregate, amount to more than 15 days, a fresh proclamation under Rule 123 shall be made unless the defaulter consents to waive it in writing in the presence of two witnesses. The time of sale shall be fixed by the Principal Officer and the sale shall be held after the expiry of not less than 30 days calculated from the date on which notice of the proclamation was affixed in the office of the Principal Officer and the place of sale shall be the village where the property to be sold is situated or such adjoining prominent place of public resort as may be fixed by the Principal Officer of the area.
