Legal Notice to defaulting costomers

 

Ref. No. 0000/2009                                                                             Date :

 

To,

_____________________

_____________________

_____________________

_____________________

 

 

Dear Sir/Madam,

We act for our client M/s. ______________Bank Ltd., having its Registered Office at ……………… and Branch office at ………………………… and under its instructions, we serve you with the following notice:

 

1.                  That you have obtained Financial Facilities/Assistance/Loan for ………….. (purpose) Loan from our client under terms and conditions of Loan Agreement dated ………… the said …………. Loan/facility was repayable in monthly installments of Rs. ………/- each.

2.                  That this is to inform you that you have failed to maintain financial discipline in your account and cheques issued by you towards Equated Monthly Installments have been dishonored upon presentation. On account of aforesaid default, there is an outstanding amount of Rs…………./- including EMI outstanding, Penalty and bouncing Charges as on ……………. in your account.

3.                  By means of the this notice, you are hereby called upon to pay aforesaid amount to our client within 7 days from the date of the receipt of this notice and pay the future EMIs regularly on the due dates without default or else our client shall be compelled to recall loan at once and shall be at liberty to initiate Civil/Criminal action against you and in that event you will become liable to pay the entire amount along with interest and other charges and expenses and also shall be at liberty to take further legal action including sharing your credit history with CIBIL which could prejudice your further loan arrangement with other financiers and Bankers.

4.                  This notice is being issued at your cost, risk and responsibility.

 

Kindly contact our clients Branch office ………………………. Near to your location, and you may contact for further query and payment of abovementioned amount.

 

Yours truly,

 

Advocate