Amendment status not verified — confirm the current text below against the official source.
Upon the expiry of three months from the date of service of a notice under section 103, if the sum due under the mortgage has not been paid, the managing committee of the bank or the society, as the case may be, may, after considering any objection made within that period by any person entitled to such notice, apply to the Sale Officer appointed under section 102 to sell the mortgaged property or any part thereof, and such officer shall, in the prescribed manner, proceed to sell such property by public auction and report the result thereof to the bank or the society, as the case may be.