Section 44Y(1) in The Bihar Co-operative Societies Act, 1935
(1)The proceeds of the sale, effected under this Chapter shall be applied first to the payment of all costs, charges and expenses incurred in connection with the sale or attempted sales, secondly to the payment of any or all interest due on account of the mortgage in consequence whereof the mortgaged property was sold and thirdly to the payment of the principal due on account of the mortgage including cost and charges incidental to the recovery.
