Section 145(5) in Karnataka Municipalities Act, 1964
(5)In respect of sale of movable property (other than property sold under sub-section (1) of section 144), the person who is declared to be the purchaser shall deposit immediately twenty-five per cent of the amount of his bid, and in default of such deposit, the property shall forthwith be again put up for auction and sold. The full amount of purchase money shall be paid by the purchaser on the next working day after the day on which he is informed of the sale having been confirmed by the Municipal Commissioner or Chief Officer. On payment of such full amount of the purchase money, the purchaser shall be granted a receipt for the same and the sale shall become absolute as against all persons whatsoever.
