Section 175State of Karnataka Act
Section 175: Failure to make deposit
Failure to make deposit.
(1)
In default of the payment of the deposit referred to in section 174, the property shall be put up for re-sale forthwith and the expenses incurred in connection with the first sale shall be borne by the defaulting bidder.(2)
In default of payment of the balance of the bid amount within the period prescribed in section 174, the deposit, after defraying therefrom expenses of the sale, shall be forfeited to the State Government and the property shall be re-sold; such re-sale shall be made after issue of a fresh notice in the manner prescribed under this Chapter for the original sale.(3)
Any deficiency of price which may happen on a resale by reason of the purchaser's default and all expenses attending such resale shall be recoverable from the defaulting purchaser in the same manner as an arrear of land revenue.Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.