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Legal Department Delhi Shashi Bhushan Kumar

1) This legal notice is from Sachdev & Associates law firm on behalf of their client Hero FinCorp Ltd regarding a loan default by Shashi Bhushan Kumar. 2) Kumar had taken a two-wheeler loan of Rs. 32977.47 but has defaulted on payments with an outstanding amount due of Rs. 32977.47 as of September 25, 2023. 3) Kumar is instructed to pay the outstanding amount within 5 days, physically produce the vehicle (registration BR31AR1242) to Hero FinCorp for inspection within 5 days, and legal action may be initiated if he fails to comply.

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420 views1 page

Legal Department Delhi Shashi Bhushan Kumar

1) This legal notice is from Sachdev & Associates law firm on behalf of their client Hero FinCorp Ltd regarding a loan default by Shashi Bhushan Kumar. 2) Kumar had taken a two-wheeler loan of Rs. 32977.47 but has defaulted on payments with an outstanding amount due of Rs. 32977.47 as of September 25, 2023. 3) Kumar is instructed to pay the outstanding amount within 5 days, physically produce the vehicle (registration BR31AR1242) to Hero FinCorp for inspection within 5 days, and legal action may be initiated if he fails to comply.

Uploaded by

shivamraj780840
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Sachdev & Associates

(Advocates & Legal Consultants)


Chambers: Ch. No.363, Saket Court Complex,New Delhi
Phone No:- +91 7011718218
Email ID:- sachdevandassociates363@gmail.com

Ref: 3943/S&A/HFCL/LDN/BIHAR/SEPTEMBER/2023 Date- 25 /SEP/2023


TO,
SHASHI BHUSHAN KUMAR S/O Mr LAKHAN RAM,
ADDRESS - MOHAMMADPUR POJHA WARD NO 11 RASULPUR EANAYAT
URF BABHANTOLI BHAGWANPUR
MOBILE - 8873986776

Ref:-Loan Demand Notice for Your Loan Account No. HJATWL00100007359847, (App id -18760351) Overdue Amount
Rs. 32977.47- AS ON 25/09/2023 to our client M/s. Hero FinCorp Ltd.
Dear Sir / Madam,
Under instructions and on behalf of our client M/s Hero FinCorp Limited, having its Corporate Office at 9, Basant Lok, Vasant Vihar,
New Delhi-110057, we hereby serve upon you the above named addressee, the following notice: -
That vide (Loan Agreement No. HJATWL00100007359847) executed by you and our client, you availed Two wheeler Vehicle Loan of
Rs. 32977.47 /- You were entrusted with vehicle / asset, bearing REGISTRATION NO. BR31AR1242, SPLENDOR PLUS hypothecated
property.That under the terms and conditions of the said Agreement you were bound to repay the loan amount in equated monthly
Installments of Rs. 3561/- each. You grossly failed to comply with the terms and conditions of the said Loan agreement and
defaulted in payment of equated monthly Installments (EMI) as per the stipulated schedule. Our client states that as on 25/09/2023
a sum of Rs. 32977.47 /- is outstanding and payable by you. In terms of the agreement our client has the right to terminate the
agreement and demand the entire foreclosure amount in the event of your failure to pay any Installments. The said vehicle is
hypothecated as a security in our favour and we still are the actual and absolute owner of the same.
That our Client call upon you through this legal notice to make the payment of Rs. 32977.47 /- within Five days of the receipt of this
notice:-
EMI Overdue 14244
Other Charges (including Cheque Bouncing & Late payment Charges) 11815

TOTAL 32977.47
 Please take note that the above amount is not constant as it changes on daily basis due to various factors including
interest accrual & charge/penalty towards any default and as per future outstanding as well.

Through this notice, you are also required to physically produce the above said vehicle / asset, bearing REGISTRATION NO
BR31AR1242 SPLENDOR PLUS to our client’s representative 9955131373 within 05 days from the receipt of this notice between 10:00
AM to 04:00 P.M. for physical verification / inspection. In addition to this, you are also required to bring the original registration book
with the insurance policy and also other relevant documents.
 We trust that you shall do the needful within the stipulated time and shall obviate the necessity of taking unpleasant
steps, which is needless to mention shall be at your cost and consequences. Our client shall at liberty to initiate legal
proceedings (Civil & Criminal) against you for the recovery of same at your costs and consequences thereof and
initiate the following among other remedies;
 Section 138 NIA and Section 25 of PASSA, which deals with dishonor of Cheque and NACH/Direct Debit,
respectively, provide for punishment for Imprisonment up to 2 years, and/or fine up to twice the
amount of the Cheque /NACH/Direct Debit, or both.
 Initiate legal proceedings for recovery including Arbitration Proceedings.
 Government Employees salary / pension can be attached for execution of Award.
 Information about your debt will be shared with other financial institutions and banks (through CIBIL).
You may not receive any other loan (two-wheeler, car, credit card etc.) in future from any other
financial institution and may face difficulty finding a new job as companies check CIBIL before hiring.
 Take charge and/or possession of the Said Asset if failed to produce for inspection as stated above and
sell, transfer, alienate the same for the recovery of the dues of our Client. Kindly take due note that in
case of your failure to comply with the present notice our Client would be duly entitled to take
possession of the Said Asset and Sell, transfer, alienate etc. the same for the recovery of its dues.

A copy of this notice is retained in our office for future necessary action.
Kindly ignore this communication in case you have already settled the above amount due on your Account.

For Sachdev & Associates


(ADVOCATE & LEGAL CONSULTANT)
NOTE: In case you wish to make payment in terms of the present notice, we request you to please bring
copy of this notice along with Cash /D.D. favoring “HERO FINCORP LTD” or send the same on Manager-Legal,
Retail Finance, Hero Fincorp Ltd, 09, Basant Lok, Vasant Vihar, New Delhi-110057 and close the issue or have
any query you may contact representative at 9955131373 of “Hero FinCorp Ltd”.

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