154. (1) When the property seized is subject to speedy and natural decay, or when the expense of keeping in custody together with the amount to be recovered is likely to exceed its value, the Adhyaksha or other officer by whom the warrant was signed, shall at one give notice to the person in whose possession the property was seized to the effect that it will be sold at once and shall sell it accordingly unless the amount named in the warrant be forthwith paid.
(2) If not sold at once under sub-section (1) the property seized or sufficient portion thereof, may, on the expiration of the time specified in the notice served by the officers executing the warrant be sold by public auction under the order of the [Zila Panchayat], unless the warrant is suspended by the person who signed it or the sum due from the defaulter is paid together with all costs incidental to the notice, warrant and distress and detention of the property.
(3) The surplus if any, shall forthwith be remitted by money order, less postal commission, to the person from whose possession the property was taken. If the amount so remitted is returned to the [Zila Panchayat] by the post office it shall be credited to Zila Nidhi, notice of such credit being given at the same time to the said person, and, if the same be claimed by written application to the [Zila Panchayat] within one year from the date of the service of the notice, a refund thereof shall be made to such person. Any sum not claimed within one year from the date of service of such notice shall be the property of [Zila Panchayat].