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[Cites 0, Cited by 1] [Section 78] [Entire Act]

State of Haryana - Subsection

Section 78(1) in Haryana Co-operative Societies Act, 1984

(1)The proceeds of every sale under this Chapter shall be applied by the sale officer, firstly in payment of all costs, charges and expenses properly incurred by him as incidental to the sale or any attempted sale determined in the prescribed manner; secondly in payment of all interest due on account of the mortgage in consequence whereof the mortgaged property was sold; thirdly, in payment of the principal money due on account of the mortgage; and lastly, the residue, if any, shall be paid to the person proving himself interested in the property sold or, if there are more such persons than one, then to such persons according to their respective interest therein upon their joint receipt.