section 29
Distribution of sale proceeds
The Madhya Pradesh Sahakari Krishi Aur Gramin Vikas Bank Adhiniyam, 1999The proceeds of every sale under this Chapter shall be applied by the Sale Officer— Firstly, in payment of all costs, charges and expenses properly incurred by him as incidental to the sale or any atienipicd sale; Second, in payment of all ingesst.duc.on account of the Igan-i iniconsequence whetrof the property was sald: Thirdly, in payment of the principal amount of the loan; Fourthly, in payment to any creditor of the Ioanee who has, in a suit for the sinisration of his estate, obtained a decree for Sale of the property to which the Security relates; and lastly, the residue of the money so received, after payment to the said creditors of the loanee and if there are more such persons than one, then to such persons, according to their respective interest therein or upon their jodt receipt; Provided that the sale officer shall not distribute such residue until thitty days have elapsed fram the date of communication of his decision, to all the persons concerned.
Study data processing for this section.
PDF: pending for this language.