Mirae Asset Financial Services has the authority to sell your mutual funds under specific circumstances. This typically occurs in situations where regulatory requirements or legal obligations necessitate the sale of these funds.
If the overdue amount due to one of the below reasons is not repaid in the stipulated time as per the agreed terms and conditions, Mirae Asset Financial Services has the authority to sell your mutual funds
• Failed interest payment or
• Drop in value of your mutual funds where utilization is more than eligible limit or
• On maturity where the outstanding amount is not repaid
This action is taken as a last resort to recover the outstanding amount.