In case of persisting overdue, a notice will be sent to the borrower to his address. Even then, if you fail to pay the overdue, a Preliminary Auction will be sent. Even then, if you do not respond, your property will be brought for sale under Public Auction to appropriate the dues.
As per our Auction Policy approved by the Board of Directors, the property will be auctioned off only after giving sufficient notice to the borrower and public notice in News Paper. SMSO Permanent Nidhi Ltd serves a minimum of three reminders to its overdue accounts. We also send periodic SMS reminders to our customers to alert them to the overdue in the account. Moreover, we also send auction intimation prior to the auction