Section 8(7) in The Rajasthan Colonisation (Sale and Allotment of Land in Mandis in the Bhakra and Indira Gandhi Canal Projects Colony Areas) Conditions, 1973
(7)In case the successful bidder retracts his bid or fails to deposit 25% of the bid money in accordance with sub-condition (6), the earnest money deposited by him shall be forfeited to the State Government. In this case [Auction Committee] [Substituted by Notification No. F. 4(29) Revenue/Col/79, dated 27.09.1980-Rajasthan Gazette, Part IV-(C), dated 16.10.1980, page 199.] shall be free to rc-auction the plot then and there and any deficiency in sale price which may result due to re-auction shall be made good by the previous successful bidder who retracted the bid or failed to deposit 25% of the bid money.
