Disposal of proceeds of execution

(1) Whenever assets are realised, by sale or otherwise in execution of a certificate, they shall be disposed of in the following manner, namely— (a) there shall be paid to the certificate-holder the costs incurred by him; (b) there shall, in the next place, be paid to the certificate-holder the amount due to him under the certificate in execution of which the assets were realised; (c) if there remains a balance after these sums have been paid, there shall be paid to the certificate-holder therefrom any other amount recoverable under the procedure provided by this Act which may be due to him upon the date upon which the assets were realised; and (d) the balance, if any, remaining after the payment of the amount, if any, referred to in clause (c) shall be paid to the certificate-debtor. (2) If the certificate-debtor disputes any claim made by the certificate-holder to receive any amount referred to in clause (c), the Certificate Officer shall determine the dispute. (1) Where the property to be sold is agricultural produce, the sale shall be held— (a) if such produce is a growing crop—on or near the land on which such crop has grown, or (b) if such produce has been cut or gathered—at or near the threshing floor or place for treading out grain or the like, or fodder stock, on or in which it is deposited: Provided that the Certificate Officer may direct the sale to be held at the nearest place of public resort if he is of opinion that the produce is thereby likely to sell to greater advantage. (2) Where on the produce being put up for sale— (a) a fair price, in the estimation of the person holding the sale is not offered for it; and (b) the owner of the produce, or a person authorised to act in his behalf applies to have the sale postponed till the next day or, if a market is held at the place of sale, the next market day; the sale shall be postponed accordingly, and shall be then completed, whatever price may be offered for the produce.