Section 8 in The Assam Co-operative Agricultural and Rural Development Bank, Rules, 1961
8. Mortgage Bank to be informed of the results of sale.
(1)The Sale Officer shall on the conclusion of the sale, make a report to the Mortgage Bank at whose instance the property was put to sale, regarding results of the sale.(2)Application to set aside the sale on deposit. - Whenever, the sale of the mortgaged property is set aside under sub-section (2) of Section 13 the deposit or the purchase money as the case may be, shall be returned to the purchaser ; in addition a sum equal to 5 percent of the purchaser money deposited by the mortgagor or the person having a right or interest in the mortgaged property under sub-clause (b) of sub-section (1) of Section 13 shall also be returned to the purchaser.
