14th December, 2022

To,
Saraswat Bank
Kalina Branch,
Mumbai.

Dear Sir,

Sub.: Housing Loan Sanctioned to me

============================

When I, the undersigned, had identified a property (Nivara Darshan, Flat No. 3,
1st Floor, Building No. 2, Chehadi Pamping Road, Chehadi Nashik Road,
Nashik) for purchase at Nashik, I approached your Bank for Housing Loan.
When your Bank was positive about the loan, I paid the owner of the property
an advance of Rs.7,08,000 (Rs.3,58,000 + Rs.1,00,000 + Rs.1,00,000 +
Rs.1,50,000). Further I have incurred expenses of Rs.1,35,000 for registering
the Sale Deed in the name of me and my wife Mrs. Lalita Pande as well as the
Mortgage Deed in your Banks favour. Thus in total I have spent Rs.8,43,000
towards the said deal.

When the loan was sanctioned, immediately the Bank was informed that my
employer will not be in a position to extend her guarantee (as she has to face a
problem in an earlier guarantee she had extended). This was informed to the
Branch Head as well as the Agent engaged to do the work with Bank (This was
categorically informed by my employer Mrs. Rathina Maravarman who
personally called the Branch head and the Agent to explain the situation).

Thereafter when I was told that Guarantee is a must, I was reluctant to

approach the Bank. Till that time me sale deed and Mortgage Deed was also
not registered and I have not paid additional amount of Rs.1,25,000 to my
vendor. After a gap of two weeks, I was called by the Brach Manager and I was
told that the Loan will be sanctioned as my wife’s name has been added to the
same and I needed to register the Sale deed as well as the Mortgage deed. That
time also I made it clear to the Bank that my employer will not be in a position
to extend her Guarantee Deed. Now after registering my Sale Deed and
Mortgage Deed as advised by Bank, I was shocked when Bank has informed
me that my employer has to execute the Guarantee Deed.

Please take note that I am staying in a permanent address at Mumbai and my

Aadhar Card is also taken from my address at Jay Bhavani Ganesh Mitra
Mandal, Bhim Nagar, L. B. S. Road, Ghatkopar (East). In the said
circumstances, the Bank is hereby requested to waive the condition of
Employers Guarantee. I am ready to give PDC’s. Moreover I require only Rs.8
Lacs to complete the deal and to release the title deeds from Axis Bank. The
Flat is worth Rs.16 lacs and I am going to avail only Rs.8 Lacs from the Bank.
As enough security is there and I am also ready to give PDC’s, I humbly
request the Bank to waive the condition of Guarantee or I will be put into
irreparable loss and damage.

Thanking you.

Yours sincerely,
Bansi Pande