Section 3C(20) in State Bank of India General Regulations, 1955
(20)The net proceeds of any sale of shares under sub-regulation (19) after deduction of costs of such sale, shall be applied in or towards the satisfaction of the debt or liability in respect whereof the lien was enforced so far as the same is payable and the residue, if any, be paid to the shareholders or the person, if any, entitled by transmission of the shares so sold.
