Section 72(14) in The Punjab Co-operative Societies Rules, 1963
(14)[(i) At any time within thirty days from the date of the sale of immovable property, the decree-holder or any person entitled to a share in ratable distribution of the assets or whose interests are affected by the sale, may apply to the Recovery Officer to set aside the sale on the ground of illegality, material irregularity, mistake or fraud in publishing or conducting it :] [Clause substituted by Punjab Government Gazette Notification dated 18.2.86 (Section 15 (e)(i)]Provided that no sale shall be set aside on the ground of illegality, irregularity, mistake or fraud unless the Recovery Officer is satisfied that the applicant has sustained substantial injury by reason of such illegality, irregularity, mistake or fraud.(ii)If the application be allowed, the said Recovery Officer shall set aside the sale and may direct a fresh one.(iii)On the expiration of thirty days from the date of sale, if no application to have the sale set aside is made or if such application has been made and rejected, the said Recovery Officer shall make an order confirming the sale:"Provided that, if he has reason to believe that the sale out to better side notwithstanding that no such application has been made or on grounds other than those alleged in any application which has been made and rejected, he may after recording his reasons, in writing, set aside the sale.(iv)Whenever the sale of any immovable property is not so confirmed or is set aside, the deposit or the purchase money as the case may be, shall be returned to the purchaser.(v)After the confirmation of any such sale, the said Recovery Officer shall grant a certificate of sale bearing his seal and signature to the purchaser, and such certificate shall state the property sold and the name of the purchaser and it shall be conclusive evidence of the fact of the purchase in all courts and tribunals, where it may be necessary to prove it and no proof of the seal or signature of the Recovery Officer shall be necessary unless the authority before whom it is produced has reason to doubt its genuineness.
