Section 342 in The U.P. Co-operative Societies Rules, 1968
342.
(1)Where immovable property has been sold, the person either owning such property or holding an interest therein by virtue of a title acquired before such sale, may apply to have the sale set aside on his depositing with the Recovery Officer-(i)for payment to the purchaser, a sum equal to five per cent of the purchase money; and(ii)for payment to the decree-holder, the amount of arrears specified in the proclamation of sale for the recovery of which the sale was ordered together with interest thereon, and the expenses of attachment, if any, and of sale and other costs due in respect of such amount, less the amounts which may since the date of such proclamation have been received by the decree-holder.(2)If such deposit and application are made within thirty days from the date of the sale, the Recovery Officer shall pass an order setting aside the sale and shall repay to the purchaser, the purchase money so far as it has been deposited together with the amount of five per cent deposited by the applicant:Provided that, if more persons than one have made deposit and application under this sub-rule, the application of the first depositor to the Recovery Officer shall be accepted(3)Where a person makes an application under Rule 343 to set aside the sale of his immovable property, he shall not, unless he withdraws the said application, be entitled to make an application under this rule.(4)Nothing in this rule shall relieve the judgment-debtor from any liability he may be under in respect of costs and interest not covered by the proclamation of sale.
