Mode of payment of price by tenant-purchaser and the power of Tribunal to recover purchase price.

32K. Mode of payment of price by 1[tenant-purchaser ] 2[and the power of Tribunal to recover purchase price.].- (1) On the determination of the purchase price 3[payable under section 32H] 4[the tenant-purchaser ],-

1. (i) if he is a permanent tenant, shall deposit with the Tribunal the entire amount of the purchase price within one year from such date as may be fixed by the Tribunal : Provided that if the Tribunal is satisfied that such 5 [tenant-purchaser] has failed to make the payment within the time specified for any reason beyond his control, the Tribunal may extend the period by a period not exceeding one year;
2. (ii) if he is not a permanent tenant, shall deposit with the Tribunal the entire amount of the price-

1. (a) either in lump sum within one year from such date, or
2. (b) in such annual instalments not exceeding twelve with simple interest at the rate of 4 1/2 per cent per annum on or before such dates as may be fixed by the Tribunal; and the Tribunal shall direct that the amount deposited in lump sum or the amount of instalments deposited shall be paid to the 6[former landlord ]. 7[(1A) If a tenant-purchaser is unable to deposit with the Tribunal the entire amount of the purchase price in lump sum before the expiry of the period fixed under clause (ii) of sub-section (1), he may deposit with the Tribunal within three months after the expiry of such period or six months from the commencement of the Bombay Tenancy and Agricultural Lands (Amendment) Act, 1964 (Mah. XXXI of 1965), whichever is later an amount equal to one-twelth of the purchase price, and also an amount equal to one yearsqptss interest at the rate of 4 1/2 per cent. per annum on the balance; and apply to the Tribunal to pay the balance in instalments. On such deposit being made, the Tribunal shall grant the tenant-purchaser such reasonable facility (not exceeding eleven annual instalments) for payment of the balance as it deems fit. (1B) Where a tenant-purchaser,-
3. (a) fails to pay the price in lump sum within the period referred to in clause (ii) of sub-section (1), or
4. (b) is in arrears of four instalments, where the number of instalments fixed is four or more, and all the instalments in any other case, he may during the period of six months from the commencement of the Bombay Tenancy and Agricultural Lands (Amendment) Act, 1964 (Mah. XXXI of 1965) or from the date of default of the payment of price in lump sum, or of the last instalment, whichever is later, apply to the Tribunal to condone the default on the ground that he, for sufficient reasons, was incapable of paying the price in lump sum or the instalments within time; and if the Tribunal after holding such inquiry as it thinks fit, is satisfied with the reasons given, it may allow further time,-
   • (i) of one year to the tenant-purchaser to pay the price in lump sum, or
   • (ii) for payment of the arrears, and may, for that purpose increase the total number of instalments to sixteen].

1. (2) During any period for which payment of rent is suspended or remitted under section 13, the 8[tenant-purchaser] shall not be bound to pay the purchase price in lump sum or the amount of any instalments fixed under this section or any interest thereon, if any 9[(3) If a tenant-purchaser fails to pay the entire amount of the purchase price within the period fixed under the provisions of this section or is in arrears of four instalments where the number of instalments fixed is four or more, and all the instalments in any other case, the amount of the purchase price remaining unpaid and the amount of interest thereon at the rate of 4 1/2 per cent. per annum, if any, shall be recoverable by the Tribunal as an arrear of land revenue].