Manilal Mohanlal Shah And Others vs Sardar Sayed Ahmed Sayed Mahmad And ... on 14 April, 1954
In Manilal Mohanlal v. Sayed Ahmed , the Apex Court has held thus: The provision regarding the deposit of 25 per cent by the purchaser other than the decree-holder is mandatory as the language of the rule suggests. The full amount of the purchase money must be paid within fifteen days from the date of the sale but the decree-holder is entitled to the advantage of set-off. The provision for payment is, however, mandatory (Rule 85). If the payment is not made within the period of fifteen days, the court has the discretion to forfeit the deposit (Italics supplied) and there the discretion ends but the obligation of the court to re-sell the property is imperative. A further consequence of non-payment is that the defaulting purchaser forfeits all claim to the property (Rule 86).