Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsPayment of balance
| 49. If the mortgaged property is sold, the Board of Directors shall, after deducting from the proceeds of the sale the amount due on the mortgage and the money and costs recoverable under section 48, pay the balance remaining, if any, either to the borrower or any person legally entitled to accept the payments due to the borrower or, where the Board is in doubt as to whom the money should be paid, into the District Court having jurisdiction over the place where the mortgaged property is situate. |