Section 32M(2) in The Maharashtra Tenancy and Agricultural Lands Act, 1948
(2)[ Where the purchase of any land has become ineffective for default of payment in time of the price in lump sum or in instalments, but the tenant-purchaser has nevertheless continued in possession at the commencement of the Bombay Tenancy and Agricultural Lands (Amendment) Act, 1964, then the purchase of the land shall not be deemed to be ineffective, until the Tribunal fails to recover the amount of the purchase price under sub-section (3) of section 32K.] [Sub-section (2) was substituted by Maharashtra 9 of 1961, Section 4(b).]
