Section 6 in Chandigarh (Sale of Sites and Buildings) Rules, 1960
6. Sale by Auction.
- [Sections 3 and 22 (2) (b)]. -In the case of sale by auction, at least twenty-five per cent of the bid accepted by the auctioning officer shall be paid on the spot by the auction purchaser, in cash or by means of demand draft [-] [The words 'or a cheque duly guaranteed by a bank' omitted, - vide Chandigarh Administration Notification No. U.T. 83-F2-70/3827-A dated the 12th March, 1970.] drawn in the manner specified in sub-rule (2) of rule 5; and the balance shall be paid either in lump sum within thirty days from the date of auction or in annual equated instalments provided in rule 10.[Provided that where the auctioning officer is satisfied with regard to the soundness of the financial position of any auction purchaser, he may, for reasons to be recorded by him in writing on the auction papers, allow such auction purchaser to make payment on the spot of an amount less than twenty-five per cent of the bid accepted, but in no case less than ten per cent thereof, subject to the condition that the full payment of the balance of twenty-five per cent of the bid accepted shall be made within period not exceeding thirty days from the date of the auction and if the auction purchaser fails to pay the balance of the twenty-five per cent of the bid accepted within the said period of thirty days, the sale shall be cancelled and the money already paid by the auction purchaser be forfeited to Government.] [Proviso added under rule 6. - vide Punjab Government Notification No. G.S.R.-77/P.A. 27/52/Ss. 3/22/amd (1) 63, dated 29th March, 1963.]
