https://www.taxtmi.com/caselaws?id=156904 Under Rule 107(11)(g) of the Maharashtra Co-operative Societies Rules, 1961, an auction purchaser had to pay 15% at the time of sale and the balance within 15 days. The Supreme Court treated this payment requirement as mandatory and held that non-payment of the balance within the prescribed period was not a mere irregularity but one going to the root of the sale. The auction sale was therefore void and ineffective, and the property had to be re-auctioned in accordance with Rule 107 after fresh advertisement and compliance with the prescribed procedure. en-us Wed, 02 May 2007 00:00:00 +0530 Fri, 18 Apr 2014 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=156904 Under Rule 107(11)(g) of the Maharashtra Co-operative Societies Rules, 1961, an auction purchaser had to pay 15% at the time of sale and the balance within 15 days. The Supreme Court treated this payment requirement as mandatory and held that non-payment of the balance within the prescribed period was not a mere irregularity but one going to the root of the sale. The auction sale was therefore void and ineffective, and the property had to be re-auctioned in accordance with Rule 107 after fresh advertisement and compliance with the prescribed procedure. Case-Laws Indian Laws Wed, 02 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=156904