State Act

The Maharashtra Land Revenue Code, 1966

200. Mode of payment when sale is subject to confirmation.— (1) When sale is subject to confirmation, the party who is declared to be the purchaser shall be required to deposit immediately twenty-five per centum of the amount of his bid, and in default of such deposit, the property shall forthwith be again put up and sold. (2) The full amount of purchase money shall be paid by the purchaser before the sunset of the third day after he is informed of the sale having been confirmed, or if the said third day be a Sunday or other authorized holiday, then before sunset of the first office day after such day. On payment of such full amount of the purchase money, the purchaser shall be granted, a receipt for the same, and the sale shall become absolute as against all persons whomsoever 2[after the expiry of a period of seven days from the date of sale, if no application is made under section 206, or if made, after it is rejected.]