Section 6(vii) in The M.P. Municipalities (Transfer of Immovable Property) Rules, 1996
(vii)In case, bidder/offerer, whose bid/offer has been accepted, does not deposit the auction/offer price within the time prescribed as above, the authority as referred to in condition (ii), may accept the second highest bid/offer, and on intimation, such bidder/offerer also docs not deposit the auction/offer price within the prescribed time, the security deposit of such bidder/offerer shall also be forfeited.
