(1) Where a sale of mortgaged property has become absolute under section 90 and the sale proceeds have been received in full by the Land Development Bank, the bank shall grant a certificate to the purchaser in the prescribed form certifying the property sold, the sale price, the date of its sale, the name of the person who at the time of the sale is declared to be the purchaser, and the date on which the sale becomes absolute, and upon the production of such certificate, the SubRegistrar appointed under the Registration Act, 1908 (Central Act 16 of 1908), within the limits of whose jurisdiction the whole or any part of the property specified in the certificate is situated, shall enter the contents of such certificate in his register relating to the immovable property.
(2) (a) Where the mortgaged property sold is in the occupancy of the mortgager, or of some persons on his behalf, or some person claiming under a title created by the mortgager, subsequent to the mortgage, in favour of the State Land Development Bank or Land Development Bank and a certificate in respect thereof has been granted under sub-section (1), the Collector shall, on the application of the purchaser, order delivery to be made by putting such purchaser or any persons appointed by such purchaser to receive delivery on his behalf, in possession of the property.
(b) Where the property sold is in the occupancy of a tenant or other person entitled to occupy the same, and a certificate in respect thereof has been granted under sub-section (1), the Collector shall, on the application of the purchaser and after notice to such tenants or other persons, order the delivery to be made by affixing copy of the certificate of sale in a conspicuous place on the property and proclaiming to the occupant by beat of drum or other customary mode at some convenient place, that the right, title and interest of the mortgager have been transferred to the purchaser.
(3) Where any property is sold in the exercise or purported exercise of a power of sale under section 89, the title of the purchaser shall not be questioned on the ground that the circumstances required for authorising the sale had not arisen, or due notice of the sale was not given, or the power of sale was otherwise improperly or irregularly exercised:
Provided that any person who suffers damage on account of unauthorised, improper or irregular exercise of such power shall have a remedy in damages against the Land Development Bank.