Section 191H in West Bengal Co-operative Societies Rules, 2011
191H. Procedure in default of payment of full amount of the bid money.
(1) If the balance of the bid money is not paid with:n the period specified in sub-rule (2) of rule 191G the deposit shall be forfeited and the property shall be re-auctioned.(2)Every re-auction, in default of payment of the purchase money within the period allowed for such payment, shall be made after issue of a fresh proclamation and in the manner prescribed for the sale.(3)When the amount forfeited together with the amount received on re-sale exceeds the total claim including interest and cost, the surplus amount shall be paid to the person whose property is sold. The deficiency, if any, will be recoverable from the debtor by further proceedings.
