(1) When a mortgaged property has been sold under the provisions of this Act, the mortgagor or any person having a right or interest therein affected by the sale may, at any time, within thirty days from the date of sale, apply to the 2 [Board or the] Committee 3 [***] concerned to have the sale set aside on his depositing at the office of such Bank.
(a) for payment to 4 [the Central Mortgaged Bank or] the Mortgage Bank the amount specified in the proclamation of sale together with subsequent interest and the costs, if any, incurred by the bank in bringing the property to sale ; and
(b) for payment to the purchaser, sum equal to such per cent of the purchase money as prescribed.
(2) If such deposit is made, 5 [the Board or] the Committee shall make an order setting aside the sale.
(3) Where no application is made under sub-section (1) or where such application is made and disallowed, 6 [the Board or] the Committee shall apply to the Registrar or to the parson appointed by the State in this behalf to make an order confirming the sale and on such officer's confirming the sale, it shall become absolute.
1. Subs. by Assam Assam Act No. VIII of 1990.
2. Ins. by Assam Act No. XXIV of 1964.
3. Omitted by Assam Act No. XXIV of 1964.
4. Ins. by Assam Act No. XXIV of 1964.
5. Ins. by Assam Act No. XXIV of 1964.
6. Ins. by Assam Act No. XXIV of 1964.
9 Distribution of proceeds of sale.