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    Legal Notice

    Uploaded by

    Jimmy Fernandis
    This letter is from a lawyer representing State Bank of India regarding a loan taken by the recipient. It states that the recipient took a loan of Rs. 6,55,000 for purchasing a vehicle but has defaulted on repayments. The recipient has failed to pay installments as agreed and owes Rs. 6,81,905 as of November 3, 2016, excluding interest. The recipient is given seven days to pay the full amount owed or legal action will be taken for recovery of dues and costs.

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    Legal Notice

    Uploaded by

    Jimmy Fernandis
    261 views2 pages
    This letter is from a lawyer representing State Bank of India regarding a loan taken by the recipient. It states that the recipient took a loan of Rs. 6,55,000 for purchasing a vehicle but has defaulted on repayments. The recipient has failed to pay installments as agreed and owes Rs. 6,81,905 as of November 3, 2016, excluding interest. The recipient is given seven days to pay the full amount owed or legal action will be taken for recovery of dues and costs.

    Original Description:

    Notice for EMI failed

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    This letter is from a lawyer representing State Bank of India regarding a loan taken by the recipient. It states that the recipient took a loan of Rs. 6,55,000 for purchasing a vehicle but has defaulted on repayments. The recipient has failed to pay installments as agreed and owes Rs. 6,81,905 as of November 3, 2016, excluding interest. The recipient is given seven days to pay the full amount owed or legal action will be taken for recovery of dues and costs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    261 views2 pages

    Legal Notice

    Uploaded by

    Jimmy Fernandis
    This letter is from a lawyer representing State Bank of India regarding a loan taken by the recipient. It states that the recipient took a loan of Rs. 6,55,000 for purchasing a vehicle but has defaulted on repayments. The recipient has failed to pay installments as agreed and owes Rs. 6,81,905 as of November 3, 2016, excluding interest. The recipient is given seven days to pay the full amount owed or legal action will be taken for recovery of dues and costs.

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    3 /11/2016

    To,

    Mr. …

    ……………………..

    …………………….

    Sir,

    Under instruction from our client the State Bank of India, Deonar

    Branch having its Branch office at Sion Trombay road, Near Deonar Bus

    Depot, Mumbai-400 088 we have to address you as follow:

    1. You made an application to State Bank of India, Deonar Branch

    Mumbai for term loan to purchase a Vehicle, which was

    sanctioned by our client for Rs 6,55,000/- ( Six Lac Fifty five

    Thousand only).

    2. You as Borrower accepted the letter of arrangement dated

    23/02/2013 containing the Terms and Conditions contained

    therein. The agreement of Loan– cum- hypothecation was executed

    by you on 23/03/2013.

    3. After execution of above documents by you Deonar Branch has

    advance a loan of Rs 6,55,000/- ( Six Lac Fifty five Thousand

    only) which was utilized by you for purchase of Commercial

    Vehicle, Mahindra Verito D2 BS3 bearing no MHO4 GD 9643.

    4. You have agreed to pay the Loan amount and interest by 57

    monthly installments of Rs.16,426/- each at the rate of 13.05%

    per annum, computed on daily balance basis duly compounded

    and debited to the account at monthly rests on the last working

    1
    day of every month in accordance with the accounting practices of

    the Bank from time to time.

    5. You failed and neglected to repay the said loan amount by monthly

    installments and defaulted in payment of same. You have failed

    and neglected to regularize your account and have miserably failed

    to make payment of the outstanding amount. My client sent

    repeated requests and remainders to you for payment of the said

    amount but no positive response came from your side.

    6. Our client’s say that you have failed to pay the installments of the

    loan as agreed to by you and the present outstanding in your Loan

    Account No 32840948734 is Rs.6,81,905/-( Six Lac Eighty One

    Thousand Nine Hundred and Five only ) as on 3rd November 2016

    which is exclusive of unapplied interest and you are liable to pay

    my Clients Rs. 6,81,905/- with further interest to be calculated

    at @13.35% p.a. till the actual repayments thereof.

    You are therefore, hereby called upon to pay my client the

    aforesaid amount within seven days of receipt hereof failing which

    my client has instructed me to take legal steps against you for

    recovery of the dues with cost charges, which please note.

    Yours truly,

    Advocate for Bank

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