LAW DEPARTMENT

TELANGANA ZONE
10-1-1199/2, PTI BUILDING, 2ND FLOOR, AC GUARDS, HYDERABAD-500 004
PH: O40-23397741 Email: Legal.Telangana@bankofindia.co.in
………………………………………………………………………………………………………………………………………………
Ref: TELGZO/LAW/JKM/79                                                   Date: 15.06.2017

1. Smt Munagala Vijaya Prada

W/o Venka Reddy
H-No.7-2-7/86/E,
Durganagar Colony,
Karmanghat, Saroornagar, Hyderabad.

2. Shri..Pathuri Anjaiah Goud

H-No.17-1-383/27,
Vinaynagar Colony,Saidabad,
Hyderabad-500059

3. Shri..Pathuri Archana
H-No.17-1-383/27,
Vinaynagar Colony,Saidabad,
Hyderabad-500059

4. Shri.Pathuri Ashok Kumar

H-No.17-1-383/27,
Vinaynagar Colony,Saidabad,
Hyderabad-500059

5. Shri..Munagala Venkat Reddy

H-No.7-2-86/E,
Durganagar Colony,
Karmanghat, Ranga Reddy

Sir/Madam,

Re: Notice for initiation of Insolvency proceedings under the Insolvency and
Bankruptcy Code 2016, declaring as Willful Defaulters and Publication of Names and
photographs in News papers and other Media
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The No.1 of you availed the following credit facility from our Mansoorabad Branch.

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 LAW DEPARTMENT
TELANGANA ZONE
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Nature of Facility Sanctioned Limit

(Fund Based) (Rs.)
Term Loan-I Rs.2,47,50,000/-
Term Loan-II Rs.4,29,75,000/-

The Nos.2 to 5 of you has stood as guarantors to the above detailed credit facility.

That all of you have availed the credit facility in full, but have failed to repay the same as per
the terms of loan sanctioned due to which, the loan account was classified as Non-
Performing Asset and recovery action has been initiated under the provisions of SARFAESI
Act for recovery of a sum of Rs. 6,77,25,000/- plus interest at appropriate rates together
with costs and expenses. But in spite of sufficient opportunities granted to you, you have
failed to pay the amount and you owe huge amount to the bank and the default in
repayment continues and the amounts due from you are accruing and rising every day.

Though you have sufficient means to repay the amount to the bank, you are willfully and
intentionally neglecting to pay and such acts amount to willful default and all of you are
willful defaulters. It is highly irrational and unethical on your part to have enjoyed the credit
facility by taking undue and unfair advantage for your benefit and unjustly enriched yourself
in an illegal manner and acted against the interest of the bank by siphoning off/mis-
utilisation of bank finance/usurping the bank funds and failing to repay the dues to the
bank.

In view of the default committed in repayment of Bank Dues and also keeping in view the
facts and circumstances stated above, we as a creditor hereby call upon you and show cause
as to why:

1. Insolvency resolution process should not be initiated against all of you under the
provisions of The Insolvency and Bankruptcy Code 2016 to declare all of you as
insolvent.
2. All of you should not be declared as willful defaulters and your names and
photographs should not be published in leading news papers for the willful default
committed by you in repayment of the loan amount to the bank and proclaim to the
public through electronic and print media that you are willful defaulters.
3. Any other action that may deem fit and necessary as to the facts and circumstances
warrant should not be taken against all of you.

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 LAW DEPARTMENT
TELANGANA ZONE
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Please treat this notice as an final opportunity granted to you to repay the dues to the bank
immediately failing which all the above said actions shall be taken against you at your costs
and expenses and the above proposed action is without prejudice to our rights in any other
proceedings which have already been initiated/filed and /or may be initiated /filed before
any Court of Law with regard to recovery of aforementioned dues including the action taken
and to be taken under the provisions of SARFAESI Act and filing recovery suit before Debts
Recovery Tribunal.

Yours

(S.Jegankovilmani)
Senior Manager (Law)

Cc to: The Chief Manager Mansoorabad

…. For information

Senior Manager (Law)