D. NARAYANA SWAMY, ADVOCATE & ARBITRATOR.

No: 25, 1 st FLOOR, 8TH MAIN, SAMPANGIRAMANAGARA, BENGALURU-560027

Email: dns1807@live.in

Loan Recall Notice

Date: Oct 14, 2022
To,
SUMAN JEWELLERS & BARTAN BHANDAR
Suman Jewellers & bartan shop
Gaya
near jagjivan college
Gaya, Bihar, 823003
+91-6206586773
Subject: Loan Recall Notice for recovery of outstanding amount payable pursuant to the credit facility extended to
you by our client via the Platform as against your Line Id being 267553.
Dear Sir/Maam,
Under the instructions and on behalf of our client, IndusAge Tech App Pvt Ltd. having its registered office at 1090/O,
Municipal No.1580/1090/O, 17th Main, Sector 3, HSR Layout, Bangalore 560102, acting as a Collection Partner for Hiveloop
Capital Private Limited (HCPL). having its registered office at 1090 G, 18th Cross, 14th Main, Sector 3, HSR Layout,
Bangalore, Karnataka. 560102. (hereinafter collectively referred as Our Client), we do hereby serve upon you the present
Loan Recall Notice as under:
1. Our client, Hiveloop Capital Private Limited is a non-banking financial institution and enables credit facility to the users of
website (https://udaan.com) and mobile application (collectively referred to as Platform). Our client also provides credit facility
to the users of the Platform which enables the eligible user to make payments for purchases made through the Platform or
payments made to suppliers and repay the transaction amount later within the specified time period in accordance with the
terms and conditions available on the Platform.
2. You have availed the credit facility from Our Client and accepted the terms and conditions available on the Platform on Aug
23, 2019. Pursuant to your acceptance to the terms and conditions of the credit facility on the Platform, Our Client had
enabled the credit facility to you for the orders placed by you using the Platform.
3. As per the records of our Client, the credit facility has been provided to you by our client for a total amount of Rs.80,000
(Limit). Pursuant to the terms of the contractual arrangement, you had assured to repay the amount to our client. However,
you have miserably defaulted in making the payment to our Client and are in breach of the terms of the Loan Agreement
agreed by you.
4. That despite repeated follow ups by the Authorised Representatives of our Client, you have been unresponsive and failed
to honour your contractual obligations and thus our Client hereby recalls the credit facility granted to you by our Client with
immediate effect and therefore you are requested to repay the entire dues amounting to Rs. 34,925 (Outstanding Amount)
immediately, failing which our client would be constrained to take appropriate legal action against you.
5. Please note that basis your default, our client shall report your credit conduct to Credit Rating Agencies such as
TransUnion Cibil and such continuous default shall impact your Cibil Score adversely which you may please note.
6. That your dishonest and intentional act of non-payment of the Outstanding Amount to our Client clearly tantamount to an
offence of cheating which is a punishable offence as per Indian Penal Code, 1860 and our client reserves the right to initiate
appropriate civil and criminal proceedings against you. We however, hope that good counsel shall prevail over you and you
shall comply with the requisitions set out in the present Notice and shall not compel our Client to initiate legal proceedings
mentioned hereinabove.
You can directly contact email legalnotices@udaan.com for any clarifications. Kindly ignore this notice if the matter has
already been resolved or the payment has already been made.
Yours Sincerely

D. NARAYANA SWAMY
ADVOCATE