The party who shall be declared the purchaser of an estate or share of an estate at any such public sale as aforesaid, shall be required to deposit or immediately or as soon after the conclusion of the sale of the estate at share as the Collector or other Officer as aforesaid may think necessary, either in cash Bank of Bengal Notes or Post Bills or Government Securities to be valued at the market rate of the day, duly endorsed, twenty percent on the amount of his bid and in default of such deposit, the estate or share shall forthwith be put up again and sold.