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    Anish Sirohiya
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    1) The letter requests an increase in the moratorium period for a term loan from Saraswat Co-Operative Bank due to construction delays. 2) The construction work faced delays for several unavoidable reasons including the R.C.C consultant undergoing brain surgery for a month, heavy rains stopping construction for 4 months, and lack of sand availability slowing progress. 3) Only 20% of the loan has been used due to the delays, so an extension of the moratorium period is being requested to allow for completion of the construction project.

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    1) The letter requests an increase in the moratorium period for a term loan from Saraswat Co-Operative Bank due to construction delays. 2) The construction work faced delays for several unavoidable reasons including the R.C.C consultant undergoing brain surgery for a month, heavy rains stopping construction for 4 months, and lack of sand availability slowing progress. 3) Only 20% of the loan has been used due to the delays, so an extension of the moratorium period is being requested to allow for completion of the construction project.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    24 views2 pages

    Bank Letter

    Uploaded by

    Anish Sirohiya
    1) The letter requests an increase in the moratorium period for a term loan from Saraswat Co-Operative Bank due to construction delays. 2) The construction work faced delays for several unavoidable reasons including the R.C.C consultant undergoing brain surgery for a month, heavy rains stopping construction for 4 months, and lack of sand availability slowing progress. 3) Only 20% of the loan has been used due to the delays, so an extension of the moratorium period is being requested to allow for completion of the construction project.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 2

    Date: - 15thDec

    2010

    To,
    The Manager
    Saraswat Co-Operative Bank Ltd
    Thakurdwar

    Subject: - Application for increasing term loan


    Moratorium period

    Dear Sir,
    This is regarding the term loan which we have at your bank SLPUB 808.
    We took the first disbursement on 15th March and commenced with our construction
    work. Thereafter we faced a number of unavoidable circumstances which caused
    delay to our work.

    1) Our R.C.C Consultant Mr Karnik went through an brain operation in April and
    we could not get any drawings from him so our work was stand still for a
    month. Our work started again in May
    2) In June last week due to heavy rains we had to stop construction because
    there was pouring rains and water would accumulate in foundation pits. The
    work was stand still for around 4 months from July to October.
    3) When we started with the construction in October there was no availability of
    sand although we had stocked sand the work is being carried out but sand
    isn’t easily available in the market.

    Due to these reasons our work is behind schedule, we haven’t even used
    20% of the applied loan so we request you to consider our application and
    please increase our moratorium period.

    Thanking you in anticipation


    Yours sincerely
    Shrikant G Kamath

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