Reference: Notice ID IN174-1913

Date: 20-06-2023

To:

Sangiah Muthu Vairam

Borrower
31 Aswing Garden, Balaraman Nagarpoonamallee, Tiruvallur 600056
m.sangiah@gmail.com
8190048003;

Sub: Legal Notice for default in payment of overdue and interest in the Loan account
no. 0021-04194109-667501(Zest ID-VD99VCE4QBA7)

Dear Sir/Madam,

We hereby serve you with the following legal notice,

You have through “ZEST MONEY”, Bank’s Business Correspondent/Service provider, availed a
personal Loan of Rs. 320000 on 07-10-2020 from the Bank and the overdue amount arising out of
the subject mentioned personal Loan account standing in your name, is unpaid, breaching the
terms & conditions as to repayment as mentioned in the agreement of the aforesaid loan account
duly accepted and executed by you.

Please be informed that as per the Bank’s accounts/records, an outstanding amount of Rs.
117208 /- as on 31-05-2023, remains unpaid. It is further brought to your notice that in case of
subsequent defaults in payment of Equated Monthly Installments and/or not adhering to the
terms and conditions of the loan agreement and/or not honoring the demand notice, the Bank
would be forced to initiate steps for recovery of dues as per the law of the land by recalling the
entire credit facility.

Please note that due to the failure of repayment of the outstanding EMIs as above as per the
terms and stipulations of the Loan Agreement, the account has been classified as Non-Performing
Asset (NPA) in terms of the guidelines of the Reserve Bank of India. The above default will affect
your credit rating adversely. as any such default is to be reported to Credit Information Agencies
as well.

Without prejudice to the Bank’s rights to recover the outstanding dues towards the aforesaid loan
account and any other rights, claims and contentions under applicable laws, the Bank hereby
calls upon you to make payment of the aforesaid amount together with all further interest and
charges that will get accrued thereon till the date of payment by you, within 7 days from the date
of receipt hereof, failing which, the Bank reserves its right to proceed further with appropriate
legal proceedings against you as per the provisions of Civil, Criminal and other relevant laws of
the land without any further reference and you shall be liable for all claims, costs and
consequences resulting therefrom. Such proceedings would lead to the attachment & sale of your
assets including household property as well as lowering of your credit score as per credit bureau
status.

Please ignore if you have already paid the amount before receiving the instant notice.
You are requested to contact your concerned Manager

Thanking you,
Yours faithfully,