Section 277 in Andhra Pradesh Civil Rules of Practice and Circular Orders, 1980
277. Leave to bid:
(1)An application for leave to bid at the sale shall be supported by an affidavit setting forth any facts showing that an advantageous sale cannot otherwise be had; and an undertaking shall be given by or on behalf of the applicant, that, in the event of his being declared the purchaser of the property, or of any lot or lots, he will give credit, or will enter up satisfaction of the decree or order under which the sale is made, for the purchase money:Provided that if there are several decree-holders entitled to rateable distribution, the purchase money shall be paid into Court.(2)Upset price: - In cases in which the Court may consider that the applicant should not be allowed to bid for less than a sum to be fixed, it shall be competent to the Court to give leave to bid at the sale, only on condition that the applicant's bid shall not be less than the amount so fixed by the Court, which amount shall, as far as practicable, be determined with reference to the probable market value of the property, or of the lot or lots into which the property or of the property is divided for sale.
