As per case facts, a plot of land was auctioned to recover dues from a firm to a Bank. The auction purchaser deposited a portion of the bid amount on ... the auction date, with the rest in installments over three months, violating the mandated 15-day period under the 1961 Rules. Legal representatives of a deceased partner challenged the auction, leading to its cancellation by the Joint Registrar. The auction purchaser and the Bank appealed this to the High Court, which upheld the cancellation due to mandatory payment condition violation and allowed the legal representatives to repay. The present appeals contest this High Court Order. The question arose whether the failure to deposit the balance sale consideration within the stipulated period under the 1961 Rules rendered the auction sale void, and if the condition could be waived by the creditor Bank. Finally, the Supreme Court held that relevant Rules are mandatory, serving a public purpose beyond just the creditor's interest. Non-compliance rendered the sale a nullity, with no evidence of waiver. The Court affirmed the High Court's Order declaring the sale void but modified the final Order to direct a fresh auction of the property, also instructing the Bank to refund the auction purchaser with interest.