Section 141(8) in The Orissa Co-operative Societies Rules, 1965
(8)On every sale of property, the person declared to be the purchaser, shall pay immediately after such declaration, a deposit of 20 per cent on the amount of the purchase money to the Sale Officer and in default to pay such deposit the property shall forthwith be sold again by public auction. The money so received shall be deposited in the manner prescribed by the [Auditor-General] [Substituted vide Orissa Gazette Extraordinary No. 500, dated 23.4.1997.] ;Provided that where the Bank is the purchaser and is entitled to set off the purchase money under Sub-rule (12) the Sale Officer shall dispense with the requirements of this Rule.
