Debangsu Basak, J.—The petitioner seeks issuance of a sale certificate and a letter of confirmation of sale in respect of an immovable property purchased by the petitioner in an auction undertaken by the respondent no.1 under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI).

2. The learned advocate for the petitioner submits that the petitioner has paid the entire consideration price of the property but not within the time. He submits that the respondent no.1 has issued a notice purported to forfeit the entire sale consideration. He submits the respondent no.1 is not entitled to do so.

3. The learned advocate for the respondents submits that the sale in favour of the petitioner was confirmed on December 21, 2016 in terms of Rule 9 (4) to (6) of the Security Interest (Enforcement) Rules, 2002. The respondent no.1 is entitled to forfeit the part sale consideration immediately on the expiry of the 15 days from date of confirmation of the sale. In the present case, the date of confirmation of the sale being the December 21, 2016, the respondent no.1 became entitled to forfeit the entire sale consideration on January 5, 2017. The respondent no.1, however, had granted some time to the petitioner to pay the balance consideration. It had invoked Rule 9 (4) of the Rules, 2002 for such purpose. The petitioner not having paid the entire sale consideration, the respondent no.1 was constrained to terminate the sale by a writing dated February 17, 2017. On the date of termination, the entire sale consideration was not paid. He submits that the petitioner had put in the balance consideration even after February 17, 2017 through NEFT and RTGS payments. The respondent no.1 did not authorize the petitioner to make such payments.

4. I have considered the rival contentions of the parties and the materials made available on record.

5. The respondent no.1 had undertaken the sale of an immovable property under the provisions of the SARFAESI Act, 2002. Such sale is governed by the Security Interest (Enforcement) Rules 2002. For the purpose of consideration of the present proceedings, the Rules 9(3) to (6) of the Rules 2002 are as follows:-

“(3) On every sale of immovable property, the purchaser shall immediately, i.e. on the same day or not later than next working day, as the case may be, pay a deposit of twenty five per cent. Of the amount of the sale price, which is inclusive of earnest money deposited, if any, to the authorized officer conducting the sale and in default of such deposit, the property shall be sold again.

(4) The balance amount of purchase price payable shall be paid by the purchaser to the authorized officer on or before the fifteenth day of confirmation of sale of the immovable property or such extended period [as may be agreed upon in writing between the purchaser and the secured creditor, in any case not exceeding three months.]

(5) In default of payment within the period mentioned in such- rule (4), the deposit shall be forfeited[to the secured creditor] and the property shall be resold and the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may be subsequently sold.

(6) On confirmation of sale by the secured creditor and if the terms of payment have been complied with, the authorized officer exercising the power of sale shall issue a certificate of sale of the immovable property in favour of the purchaser in the form given in Appendix-V to these rules.”

6. Sub-rule (3) requires the purchaser to deposit 25% of the amount of sale price on the date of the sale. The first petitioner has done so. There is no dispute with regard thereto. Sub-rule (4) requires that, the balance amount of purchase price be paid by the purchaser on or before the fifteenth day of the confirmation of the sale or such extended period as may be agreed upon in writing between the purchaser and the secured cred