Auction default and forfeiture rules bar refund claims and permit resale when the purchaser misses the payment deadline.

Where auction conditions and the governing recovery rules require payment of the balance purchase money within the stipulated time, default permits forfeiture of the deposit and resale of the property, and the defaulting purchaser loses any claim to refund or to block the subsequent sale. The Kerala High Court applied that rule consistently with the Security Interest (Enforcement) Rules, 2002, and held that the petitioner's request for extension of time, refund of the 25% deposit, and quashing of the proposed resale had no legal basis. The writ petition was dismissed, leaving the proposed resale and forfeiture consequence undisturbed.

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Issues: Whether the petitioner, having failed to pay the balance auction amount within the prescribed time, was entitled to extension of time, refund of the 25% deposit, and quashing of the proposed resale.

Analysis: The applicable recovery rules provide that on default in payment of the balance purchase money within the stipulated period, the deposit may be forfeited and the property resold, and the defaulting purchaser forfeits all claims to the property and to any subsequent sale proceeds. The same position is reinforced by the Security Interest (Enforcement) Rules, 2002, which likewise contemplate forfeiture and resale upon default. In view of these provisions, the petitioner's claim for refund of the deposit and resistance to resale had no legal basis.

Conclusion: The petitioner was not entitled to the reliefs sought, and the challenge to the resale failed.

Final Conclusion: The writ petition was dismissed, leaving the proposed resale and forfeiture consequence undisturbed.

Ratio Decidendi: Where auction conditions and the governing recovery rules expressly provide forfeiture of the deposit and resale upon default in payment, the defaulting purchaser cannot refund or prevent resale.

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