Section 5(11) in The Paradip Port Trust (Distraint or Arrest and Sale of Vessels) Regulations, 1988
(11)In default of payment of 25% of the bid amount within five days from the date of acceptance of the tender, the sale shall, unless otherwise ordered, stand automatically revoked and the earnest money shall be forfeited, and the vessel shall be resold at the risk of the tenderer whose tender was accepted.
