Section 121(11) in Tamil Nadu Co-operative Societies Rules, 1988
(11)At the appointed time, the property shall be put up in one or more lots, as the Sale Officer may consider advisable, and shall be disposed of to the highest bidder:Provided that it shall be open to the Sale Officer to decline to accept the highest bid where the price offered appears to be unduly low or for other reasons:Provided further that the Registrar or the Sale Officer may, in his discretion, adjourn the sale to a specified day and hour, recording his reasons for such adjournment. Where a sale is so adjourned for a longer period than seven days, a fresh proclamation under sub-rule (9) shall be made unless the judgement-debtor consents to waive it.
