Section 84 in Madhya Pradesh Bhu-Rajasva Sanhita (Rajasva Nyayalayon Ki Prakriya) Niyam, 2019
84. Mortgagee not to bid at sale without the leave of the Court.
(1)A mortgagee of immovable-property shall not bid for or purchase property sold in execution of a sale on the mortgage unless the Revenue Court grants him leave to bid for or purchase the property.(2)If leave to bid is granted to such mortgagee, then the Revenue Court shall fix a reserve price as regards the mortgagee, and unless the Revenue Court otherwise directs, the reserve price shall be-(a)not less than the amount then due for principal, interest and costs in respect of the mortgage if the property is sold in one lot; and(b)in the case of any property sold in lots, not less than such sum as shall appear to the Revenue Court to be fairly attributable to each lot in relation to the amount then due for principal, interest and costs on the mortgage.
