Section 61 in Haryana Co-operative Societies Rules, 1989
61. Deposit by purchaser and resale on default.
- Section 76(1). - (1) When the highest bid of the auction has been ascertained the person who made that bid shall, on the requisition of the sale officer, pay to that officer a deposit of twenty-five per cent of the amount of his bid, and shall on payment thereof, be declared to be the purchaser. If the person who made the highest bid fails to pay such deposit, the property shall forthwith be resold.(2)Where the society, at whose instance the property is sold, is the purchaser and is entitled to set off the purchase money under rule 66, the sale officer may dispense with the requirement of sub-rule (1).
