24. Manner in which perishable or deteriorating goods are to be dealt with.
- (i) Where goods are of perishable nature or will deteriorate greatly in value or damage other property, the warehouseman may serve a notice within such period as may be fixed by the Lincensing Authority, and in case no such period is fixed by it, then within such period as is reasonable under the circumstances calling upon the holder of the receipt for the goods, but if his name and address is not known to the warehouseman then upon the original depositor, to satisfy the lien upon the goods and to remove them from the warehouse. If such person fails to satisfy the lien and remove the goods within the period aforesaid, the warehouseman may sell the goods by public sale at the risk and cost of the depositor. The information regarding the date, time, place and other necessary particulars of the auction shall be duly published by beat of drum and in a local paper, besides being exhibited on the notice board of the warehouse at least three days before the auction. Notice shall be given by the warehouseman to the depositor and holder of receipt, if any, the Licensing Authority and the Collector at least forty-eight hours before such sale.(ii)If the warehouseman, after a reasonable effort, is unable to sell the goods, he may dispose them of in any manner he thinks fit, and shall incur no liability by reason thereof.(iii)The warehouseman may, from the proceeds of any sale made pursuant to this provision, satisfy his lien but shall hold, the balance, if any, in trust for the holder of the receipt.
