- (1.) In execution of decree dated 18.9.2000, share of judgment-debtor in the land was put to auction on 30.5.2003 which was purchased for total sale consideration of Rs.2,45,000/- and Rs.61,205/-, being 1/4th share of the said sale consideration was deposited at the fall of the hammer whereas remaining amount of Rs.1,83,750/- was to be deposited on 29.6.2003 by the petitioner-auction purchaser.
(2.) Perusal of the paper book reveals that the auction purchaser did not deposit the remaining amount within the stipulated time and thus, invited the penal action of cancellation of auction sale. Provision of Rule 85 of Order XXI for ready reference is appended as below: "85. Time for payment in full of purchase-money. The full amount of purchase-money payable shall be paid by the purchaser into Court before the Court closes on the fifteenth day from the sale of the property: Provided that, in calculating the amount to be so paid into Court, the purchaser shall have the advantage of any setoff to which he may be entitled under rule 72."
(3.) It is clearly evident from this provision that it is mandatory in nature and rest of the 75% of the total auction sale price was to be deposited within 15 days and no exception could be created.;