Section 33(5) in The U.P. Sahkari Gram Vikas Banks Rules, 1971
(5)Where the highest bidder fails to pay the amount of 25 per cent of the auction money and the second highest bid is not accepted or, where the second highest bid is accepted under sub- rule (2) and the second highest bidder fails to pay the amount of 25 per cent of the auction money the property shall be re- auctioned.]
