Section 127 in The Orissa Co-operative Societies Rules, 1965
127. Procedure in default of payment.
- In default of payment within the period mentioned in the last preceding rule the deposit may, if the Principal Officer thinks fit after defraying expenses of the sale, be forfeited to the Government and the defaulting purchaser shall forfeit all claims of the property or to any part of the sum for which it may subsequently be sold :Provided that when there is no re-sale under Rule 128 or where after the default by purchaser the defaulter pays the money due, the forfeiture of the deposit money referred to shall not be made.
