RARC (IOB EL) 062 Trust

11th floor, North Side, R- Tech Park, Western Express Highway, Goregoan (East), Mumbai 400063

Ref : FY2023-24/00107139 Date : 27 December, 2023

WITHOUT PREJUDICE

To
P.Murugesan and Chinnaponnu
No.5/3, Ambedhkar street east,
Surampatti
- Erode-638001

Tamil Nadu
Dear Sir / Madam,
Sub : One Time Settlement (OTS) of your Loan A/C No.101503290800002
to RARC (IOB EL) 062 Trust
This has reference to your conversation with us regarding to the subjected loan account, We are
pleased to confirm a negotiated settlement of Rs.2,02,000.00, as against total dues of Rs.
996,612.69 payable by you as on December 26, 2023.
The settlement amount of Rs.2,02,000.00 shall be paid in 2 installment(s) as per schedule given
below :
Installment(s) Due Date(s) For Payment Amount (In Rs.)
1 December 28, 2023 Rs.1,01,000.00
2 January 27, 2024 Rs.1,01,000.00
Total Amount Rs.2,02,000.00

The payment should be remitted to RARC (IOB EL) 062 Trust Account, for which bank details
are given below :
a) Bank Account Details of Trust / RARC :
Beneficiary Name RARC (IOB EL) 062 Trust
Bank Indian Overseas Bank
Credit Account No. 024702000003139
Branch Santacruz West
IFSC Code IOBA0000247

Please forward the payment details alongwith copies of your PAN Card / AADHAR Card to
enable us to issue No Dues Certificate (NDC) and update Credit Information Company
(CIBIL) records, immediately on making full payment.

b) Litigation, if any, pending against Reliance ARC and/or Indian Overseas Bank (Assignor) on
the captioned loan account shall be withdrawn by you within 7 days from the date of receipt of this
letter and the same shall be deemed to have been withdrawn immediately on acceptance of this
letter by you.
c) Upon receipt of the entire settlement amount as stated above, we shall withdraw all pending
litigations, if any, filed against you.
d) NDC shall be issued within 7 working days from the date of receipt of the entire settlement
amount in our Trust Account.

This is a computer generated letter with digital signature. For any queries please call us on 8767332222 or send email to rarc.recovery@relianceada.com
for any grievances,pls contact Mr.Rakesh Panjwani,Chief Financial Officer or please call us on 022-43031000 or send email to rarc.grievance@relianceada.com
 We further wish to state that this settlement letter is valid till January 27, 2024, and subject to
realization of the dues payable by you. This letter stands null and void after January 27, 2024,
unless revoked earlier through breach of its terms.
Please note that in case of failure to comply with any of the aforesaid terms and conditions,
including payment of settlement amount, within the due date(s) as per above schedule, the
settlement shall stand cancelled automatically and thereupon all concessions and waiver, granted to
you shall deemed to be withdrawn without any further notice to you. Consequently, all payments
received under settlement shall be adjusted against your total dues and balance shall be recovered
under due process of law. Any further extension of settlement period shall be at sole discretion of
the RARC Trust with such cost, charges, interest as may be decided by the Competent Authority.
Please forward to us the duplicate copy of this letter as a token of acceptance.

Yours sincerely,
For RARC (IOB EL) 062 Trust

Rakesh Panjwani Rajesh M Chavan Signed and Accepted

CFO Chief Manager
CC :
Contact Person : Gayathri R
Contact Number :9136967550
Email ID : Gayathri.Raja@relianceada.com

This is a computer generated letter with digital signature. For any queries please call us on 8767332222 or send email to rarc.recovery@relianceada.com
for any grievances,pls contact Mr.Rakesh Panjwani,Chief Financial Officer or please call us on 022-43031000 or send email to rarc.grievance@relianceada.com