Dear Sir/ Madam,
I am having an Industry of Industrial Gase and I had taken a Term Loan from State Bank of India for Rs. 30 lacs in May 2009 under the CGTMSE scheme. We have been regularly paying the bank but due to market recession, there has been overdue of Rs. 2.49 lacs as on 31.12.2009. The outstanding of the bank is Rs.24.66 lacs including interest. Payment has been made every month. Due to malifies intention of the chief manager, he is threatning us and has issued NPA letters and Notice under 13/2 surface act. Please guide me what to do. The notice has been issued on 26.12.2009. The bank is of Jharsuguda station road branch.