Time for payment in full of purchase money
Full Text
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 set-off to which he may be entitled under rule 72.
Plain English Summary
Statutory 15-day deadline: compels the auction purchaser to deposit the remaining 75% purchase money into court before the court closes on the fifteenth day from the auction date, a period that the court has zero jurisdiction to extend.
Key Legal Elements
- Strict 15-Day Calendar Limit: Computed from the date of the auction sale.
- Court Closing Deadline: Must be deposited into court before the daily closing of court hours.
- Absolute Inextensibility: Executing court cannot extend time under Section 148 CPC.
- Automatic Cancellation on Default: Failure to pay on 15th day results in automatic cancellation and resale.
Practical Note
The Inextensible 15-Day Rule: 1. Landmark Authorities - Sardara Singh v. Sardara Singh (1990) 4 SCC 90 & Rao Mahmood Ahmad Khan v. Ranbir Singh (1995) Supp (4) SCC 275: The executing court has NO power under Section 148 or Section 151 CPC to extend the 15-day period prescribed by Rule 85. Even if the purchaser was hospitalized, banks were on strike, or the judge was on leave, payment on the 16th day invalidates the sale as a matter of law. 2. Court Holiday Exception: If the 15th day happens to fall on a Sunday or gazetted court holiday, Section 10 of the General Clauses Act applies, and deposit must be made on the very first reopening day before court closure.
हिंदी पाठ
संदेय क्रय-धन की पूरी राशि (शेष 75%) क्रेता द्वारा संपत्ति के विक्रय से पंद्रहवें दिन (15th day) न्यायालय बंद होने से पूर्व न्यायालय में जमा की जाएगी: परंतु न्यायालय में इस प्रकार संदत्त की जाने वाली राशि की गणना करने में क्रेता को ऐसे किसी मुजरे (Set-off) का लाभ मिलेगा जिसका वह नियम 72 के अधीन हकदार हो।