Ref: LRN/JUNE-24/00401

Date: 19/06/2024

AD LINE

8693/14B GROUND FLOOR SHIDI PURA KAROL BAGH NEW DELHI Delhi 110005

MD NAVEDUN

VILLAGE - PIHWARA P.O.UTRA THANA SAHARGHAT PIHWARA Bihar 847308

SUB: LOAN RECALL NOTICE - LOAN AGREEMENT NO. LAI-00049580

Sir/Madam,

Under instructions from our client M/s. Lendingkart Finance Limited, A Non-Banking Finance Company incorporated under the provision of the Companies Act 1956 and having its corporate office at 401 4th Floor Iconic Shyamal Near Shyamal Cross Road Ahmedabad – 380015 we hereby serve you with the following notice the contents whereof you may please note: -:

1. Our client aforenamed is inter-alia engaged in the business of rendering financial/credit facilities in the form of Business loans to the intending borrowers as Lender/Co-Lender/Service Provider.
2. That you the aforenamed addressee/s in your capacity as Borrower/Co Borrower/Guarantor applied for seeking a financial facility from LENDINGKART FINANCE LTD. and our client LENDINGKART FINANCE LTD which is a Lender/Co-Lender/Service Provider of LENDINGKART FINANCE LTD. from where you have taken a financial facility.
3. That the LENDINGKART FINANCE LTD. have assigned/given all rights to our Client M/s Lendingkart Finance Limited to initiate Legal actions or take follow-up for repayments of the loan availed by the addressee.
4. That after considering your loan application and relying upon your representations and information provided by you, LENDINGKART Finance LTD. granted you a loan in the sum of Rs 180000/- (Rupees One Lakh Eighty Thousand Only) vide loan agreement No. LAI-00049580 which amount you the aforenamed addressees agreed to repay the entire loan along with interest thereupon in the mode of equated monthly installments as per terms of loan agreement executed in this regard and schedule of charges provided to you at the time of loan disbursal.
5. In consideration of the aforementioned loan availed from LENDINGKART FINANCE LTD. you the aforenamed addressees executed various documents in favour of LENDINGKART FINANCE LTD. including the loan agreement promissory note etc.
6. You the aforenamed addressees have however failed/avoided to adhere to the terms of the repayment of the said loan agreement and have thus defaulted and neglected to pay various EMIs. Under these circumstances, you the aforenamed addressees have committed breach of the terms of the loan agreement and have consequently rendered yourselves liable to repay the entire loan amount along with interest thereupon as well as other charges to our client forthwith. Our client has therefore no option but to recall the entire loan with interest and other charges. As on date, a total sum of Rs 548971/- (Rupees Five Lakh FourtyEight Thousand Nine Hundred SeventyOne Only) due and payable as on 18/05/2024 is thus due and payable by you the aforenamed addressees in respect of the said loan account.
7. In view of the above, you the aforenamed addressees are hereby jointly and/or severally called upon to pay a sum of Rs 548971/- (Rupees Five Lakh FourtyEight Thousand Nine Hundred SeventyOne Only) to our client within 7 days of receipt of this notice failing which our client shall be constrained to recall the entire loan along with interest and all costs, expenses etc. shall be at liberty to initiate legal proceedings (Civil & Criminal) against you for the recovery of the same at your costs and consequences thereof and initiate the following among other remedies:
   • Section 138 NI Act and Section 25 of PASSA which deals with dishonor of Cheque and ECS respectively provide for punishment for Imprisonment up to 2 years and/or fine up to twice the amount of the Cheque/ECS amount or both.
   • Initiate legal proceedings for recovery including Civil/Arbitration Proceedings and seek attachment of your assets for the recovery of the dues of our client etc.
   • Government Employees salary/pension can be attached for execution of Award.
   • Information about your debt will be shared with other financial institutions and banks (through CIBIL). You may not receive any other loan (two-wheeler, car, credit card) in future from any other financial institution and may face difficulty finding a new job as companies check CIBIL before hiring.
   • Initiate Legal Proceeding Under Insolvency and Bankruptcy Code 2016 before National Company Law Tribunal.
8. Please note that you shall be liable to pay the entire outstanding amount (Total Outstanding Amount) along with applicable interest & charges due and payable on the date of the actual payment made by you.
9. A copy of this notice is retained in our office for future necessary action. In case you have already made all overdue payments before receipt of this notice to our client please ignore the same. If you wish to pay immediately to avoid any legal consequences please contact our legal representative and follow the link provided by our legal representative to make the requisite payment against your loan account to our client.
10. For any further clarification you may Contact us LENDINGKART FINANCE LIMITED 4th floor 401 Iconic Shyamal NR Shyamal crossroad satellite Ahmedabad 380015 or else you may contact our local representative. Mr./Ms. ANKUR KUMAR on Mob - 8802401410. Copy of this notice is retained for future reference.

RAJIV RANJAN DWIVEDI
Advocate