Section 523

Where the State Co-operative Bank at whose instance the property, is sold is the purchaser, the Sale Officer shall dispense with the requirement of Rule 522. The Sale Officer shall then enter the satisfaction of the mortgage money in full or part, as the case may be : Provided that in case purchase money exceeds the amount of the claim, the reminder of the amount shall be paid to the defaulter, subject the provision of Rule 530 within fifteen days of the confirmation of the Sale.