Tribunal will ascertain from the tenant in the prescribed manner whether he is or is not willing to purchase the land held by him as tenant. If the tenant fails to appear on the date fixed or gives a statement that he is not willing to purchase the land, the Tribunal shall make a declaration accordingly in writing. If the tenant is wiling to purchase the land, the Tribunal will determine according to the provisions of Sections 32-H and 63-A(3) the purchase price of the land after holding an enquiry and after hearing the parties concerned. The value of the land fixed by taking into consideration all the prescribed factors will be scaled down to the maximum, if it exceeds the maximum, or scaled up to the minimum, if it is less than the minimum.
8. Provision is made in Section 32-K for payment of the purchase price. A permanent tenant has to deposit the entire amount with the Agricultural Lands Tribunal within one year from such date as may be fixed by the Tribunal. A tenant, other than a permanent tenant, can pay the price in one lump sum within one year or the price may be paid with simple interest at 4 1/2 per cent in annual instalments net exceeding 12 as may be fixed by the Tribunal. In the meanwhile, payment of rent to the landlord is stopped from the year In which the first instalment becomes payable, and if during any year the payment of rent is suspended or remitted, a tenant is not to be liable to pay the purchase price in lump sum or the amount of instalments or any interest thereon during that year