Where a receiver—
(a) fails to submit his accounts at such periods and in such form as the Court directs, or
(b) fails to pay amount due from him as the Court directs, or
(c) occasions loss to the property by his wilful default or gross negligence, the Court may direct his property to be attached and may sell such property, and may apply the proceeds to make good any amount found to be due from him or any loss occasioned by him, and shall pay the balance (if any) to the receiver.