Section 9 in The Rajasthan Colonisation (Sale and Allotment of Land in Mandis in the Bhakra and Indira Gandhi Canal Projects Colony Areas) Conditions, 1973
9. Payment of price.
(1)As soon as the bid is confirmed by the Chairman of the Committee, the successful bidder shall be informed of it by a written notice in Form III by the Executive Officer.(2)[ (i) The successful bidder shall deposit the remaining three fourths of the bid within thirty days from the date of issue of the order of the Chairman of the Committee accepting auction and in case he fails to deposit of his own motion within thirty days, a notice in form III shall be issued to the bidder for depositing the remaining three fourths amount within 30 days from the date of issue of notice.(ii)In case the bidder fails to deposit within 60 days from the date of issue of the order of the Chairman of the committee accepting auction, interest at the rate of 12% per annum shall be charged from the date of the acceptance of the bid.(iii)If the bidder fails to deposit the remaining three fourths amount after notice within 90 days or an extended period not exceeding 30 days Executive Officer shall be free to take action for the cancellation of the bid and in that case the amount deposited previously shall be forfeited in favour of the mandi.][Provided that no order of cancellation of allotment of land shall be passed without giving an opportunity of being heard to the allottee. If any allottee or purchaser deposits the outstanding amount alongwith interest thereon, the allotment shall be restored to the person, in case the land has not been allotted to another person. The rate of interest shall be for the period of 12 months @ 18% per annum and beyond this period @ 24% per annum.] [Substituted by Notification. No. F. 4(4)Revenue/Col./86 Part, dated 23.3.94 - Rajasthan Gazette, Extraordinary, Part 4(C)(I), dated 2.4.94, page 1(1) = 1995 RSCS/Part II/page 2/H. 3.](3)[x x x] [Deleted by Notification No. F. 4(7) Revenue/Col/80, dated 12.03.1981-Rajasthan Gazette, Part IV-(C), dated 19.03.1981, page 493.]
