(1) The proceeds of any distraint and sale under section 110 shall be applied as follows:—
(1) First, there shall be paid to the co-operative land development bank or the central co-operative bank or the primary co-operative credit society, as the case may be, at the prescribed rate—
(a) the costs of the sale; and
(b) the other expenses incurred on account of the distraint.
(2) Secondly, there shall be paid to the bank or the co-operative society, as the case may be, the amount for which the distrain was made and there shall be given to the person whose property has been sold a receipt for the amount so paid.
(3) Thirdly, the residue, if any, shall be paid to the person whose property has been sold.
Application of the proceeds of distraint and sale.
375 Power to bring mortgaged property to sale and deliver possession in respect of the property sold without the intervention of court.
Right to purchase at sale under this Chapter.
Title of purchaser not to be questioned.
Appointment of Receiver.
The West Bengal Co-operative Societies Act, 1983.
[West Ben. Act (Chapter XIII.—Special provisions for co-operative land development bank, central co-operative bank, primary co-operative credit society and apex housing society.—Sections 112-115.)