Section 340 in The U.P. Co-operative Societies Rules, 1968
340.
(i)Where an order for the sale of immovable property has been made, if the judgment-debtor satisfies the Recovery Officer, that there is reason to believe that the amount of the decree may be raised by the mortgage, or lease or private sale of such property, or some part thereof, or of any other immovable property of the judgment-debtor, the Recovery Officer may, on the application of judgment-debtor, postpone the sale of his property comprised in the order for sale on such terms and for such period as he thinks proper, to enable the judgment-debtor to raise the amount.(ii)In such case the Recovery Officer shall grant a certificate to the judgment-debtor authorising him within a period to be mentioned therein to make the proposed mortgage, lease or sale:Provided that all moneys payable under such mortgage, lease or sale, shall be paid not to the judgment-debtor, but to the Recovery Officer:Provided also that no mortgage, lease or sale under this rule shall become absolute until it has been confirmed by the Recovery Officer.(iii)Nothing in this rule be deemed to apply to a sale of property directed to be sold in execution of an award of order for sale, in enforcement of mortgage of, or charge on, such property.
