87. (1) Where immovable property has been sold in execution of a certificate, the defaulter, or any person whose interests are affected by the sale, may at any time within thirty days from the date of the sale, apply to the Tax Recovery Officer to set aside the sale, on his depositing,-

(a) for payment to the authority concerned, the amount specified in the proclamation of

sale for the recovery of which the sale was ordered, with interest thereon at the rate

of six percent per annum calculated from the date of the proclamation of sale to the

date when the deposit made; and

(b) for payment to the purchaser, as penalty, a sum equal to five per cent of the

purchase money.

(2) Where a person makes an application under Rule 88 for setting aside the sale of his immovable property, he shall not, unless he withdraws the application, be entitled to make or pursue an application under this rule.