Section 12(6) in Punjab Market Committees Bye-laws
(6)The committee shall [adjust the contract money in 12 equal monthly installments the income realized on account of market fee] [Substituted vide Notification No. 5135 dated 17.4.06 published in the gazette dated 14.7.2006] and in case there is any deficiency the same shall be deposited by the contractor within 7 days. In case of surplus amount from the said percentage the same shall be paid to the contractor. No concession or deferment for payment scheduled above, shall be permissible to the contractor including strike, Bandh, natural calamity which may occur during the said period. The contractor shall be allowed to cover up the deficiency of amount, if any, within next month subject to payment of interest one per cent per month on the balance amount. In case of continuing default in payment of balance amount, the due amount shall be recoverable as arrear of land revenue, besides the termination of contract.
