Conducting of Auctions from June, 2021 onwards

 09/06/2021

Lr.No.2343

Date: 09.06.2021

To

Hyd, Lkp, Ckp, Amp, Dsn, Kkp, Mpm

Tnk, Trg, Kmm, Krm, Mrl, Adb & Rgd Branches.

Sub: Conduc ng of Auc ons from June, 2021 onwards – Reg.

*****

You are aware, due to Corona, our state was under Lockdown. Hence, we could not conduct the Auc ons

scheduled in the month of May, 2021.

The earnings of most of our subscribers were worst hit due to Lockdown and they need me to recoup the

loss. As such they are reques ng us to cancel the auc ons for the month of May, 2021. As one month

period was already lapsed during the Lockdown period, it is decided to cancel the Auc ons scheduled in the

month of May, 2021. Accordingly date of termina on of concerned chit will be extended by one month.

A er considering all aspects, Our Managing Director has decided to conduct the Auc ons from June, 2021

onwards. Please note that Non-Prized subscribers who remi ed upto May, 2021 installment are eligible to

par cipate in the auc ons of

June, 2021.

The following message will appear in each chit account of subscribers:

“Auc ons scheduled to be held in May, 2021 stand cancelled due to Lockdown declared by the Government.

Accordingly date of termina on of chit will be extended by one month. ”

You are advised to send immediately this informa on regarding conduc ng of these auc ons to all Non-

prized subscribers, in the format enclosed. Computer program to that effect will be developed,

implemented and in mated to you. Run the computer program to get the le ers to subscribers for

dispatching them immediately.

Please inform the same to our Agents and Staff and also exhibit no ce regarding these auc ons in the

No ce Board. You are also advised to paste this No ce conspicuously at the entrance of our office.

Please ensure and plan for reasonable par cipa on and bidding in all those auc ons.

S VENKATA SWAMY

Vice President (Finance)