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    27 Letter CB VISHAL

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    27 Letter CB VISHAL

    Uploaded by

    joban959697
    8 views1 page
    hxhxjjxjjdjjbsbsbbsbb sbsbbshshhss s svbs

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    Copyright:

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    8 views1 page

    27 Letter CB VISHAL

    Uploaded by

    joban959697
    hxhxjjxjjdjjbsbsbbsbb sbsbbshshhss s svbs

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    CONFIDENTIAL

    20-11-2024
    Ref: LUDHIANA/LTF/TW/50085853/NOV/27
    To,

    VISHAL
    Settlement of dues pertaining to your loan account: T16906090422045441

    Dear Sir / Madam,


    1. Further to the discussions we had with you and in pursuance to your request vide letter dated 20-NOV-2024
    consider settling the dues on account of your exceptional circumstances in respect of abovementioned Loan
    Account, L&T Finance Ltd. (“L&T Finance”) has agreed to settle the dues for an amount of Rs. 20000/- against the
    outstanding. The said Settlement Amount shall be paid as below:
    Date Mode of Payment
    Amount Payable Details of Cheque
    Sr. No. (dd/mm/yyyy) (Cash/Cheque/Online)
    (In tranches) (if any)
    1. 20000/- 20-NOV-2024 CASH / ONLINE NA

    2. This settlement is without prejudice to the rights of L&T Finance Ltd under loan agreement to take necessary steps
    against you in accordance with law in the event of any breach committed by you.

    3. In the event of your failure to pay the Settlement Amount within the timelines mentioned herein, this
    one-time settlement offer will become null and void and waivers/concessions, if any, granted shall stand withdrawn
    with immediate effect and you will be liable to pay the total outstanding as on date with interest as per the terms
    and conditions of the loan agreement executed by you.

    4. Please note that any legal action initiated against you will continue till the payment of the Total Settlement
    Amount as mentioned in this letter. Further, this settlement is without prejudice to any criminal proceedings
    initiated against you under any regulatory requirement or otherwise. It is further stipulated that any legal
    proceedings, claims and demands initiated or complaints lodged by you or on your behalf against L&T finance Ltd
    and/ or its employees, officials and representatives pertaining to this loan shall be withdrawn unconditionally with
    immediate effect by taking all the necessary steps from the date of acceptance of this letter.

    5. Further, in accordance with the RBI Framework for Compromise Settlements and Technical Write-offs issued on
    June 8, 2023 and the L&T Finance policies, you shall be subject to the cooling the period before any further
    loan/exposure is granted by L&T Finance.

    6. For your information and understanding, we wish to advise you that as per the current procedure of Credit
    Bureaus, if a matter is closed by paying an amount which is less than the actual outstanding amount on a certain
    date, the Credit Bureau records will reflect the status as “settled” and the Credit Bureaus do not delete the records
    in such cases. This is the standard procedure. Accordingly, your records in Credit Bureaus also reflect as “settled” as
    per normal procedure (except in written off cases where it shall reflect as “Write Off"). In case, you want to have
    clear credit record and 'NIL' outstanding dues, the account needs to be paid in full, i.e., balance principal amount, if
    any, along with balance and accumulated interest till date.

    Please sign a copy of this letter and acknowledge receipt as token of your confirmation.

    Yours Sincerely

    HARPREET SINGH Accepted

    For L&T Finance VISHAL


    Authorized Signatory

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