(2) No sale shall take place before the expiry of at least fifteen days from the date of the
posting up or publication of the notice of sale; provided that the Court may order an
earlier sale if the judgement debtor consents or where the property offered for sale is
perishable or liable to fluctuation of price.
262.
Adjournment of Sale:(1) The court may adjourn any sale, and the official conducting the sale may adjourn
such a sale for a reason to be recorded and he shall in such event present the matter to the
Court to make such order as it thinks fit.
(2)
263.
Where a sale is adjourned for a longer period than one month a fresh notice
shall be posted up or published.
Resale:(1) Where the person to whom the property is sold fails to pay the price forthwith, the
property shall be resold at his peril at any price and in the manner provided in this
Chapter and the record of sale shall have the force of a Court decree with respect to the
deficiency in price and the cost of resale.
(2) The deficiency in price and cost of resale shall be recoverable from the defaulting
purchaser at the instance of either the judgement creditor or judgement debtor in
accordance with the provisions of this Part.
264.
Bidding by Decree Holder:(1) The decree holder shall not bid for nor purchase the property without the permission
of the Court.
(2) Where no reasonable bid is made at the auction the Court shall inform the decree
holder and ask him to make an offer.
(3) If the decree holder makes a reasonable offer, the Court shall order the property to be
put up for sale again. If no higher bid is received, the property, subject to the
approval of the Court, shall be knocked down to the decree holder at his offer.
(4) Where a decree holder purchases the property without such permission, the Court
may, on the application of any interested party, by order, set aside the sale, and the
costs, expenses and any deficiency in price on resale shall be paid by the decree
holder.
265.
Stoppage of Sale:The bailiff shall stop the sale in any of the following cases:(a) if the judgment debtor pays the amount and costs for which the sale is
ordered;
(b) if the bailiff is satisfied that such amount has been deposited in Court.
(c) if the sale realizes an amount sufficient to satisfy the judgement debt.
57