CONFIDENTIAL
22-12-2023
Ref: _____________
To,
SHEHNAZ HARUN SAYYAD
Settlement of dues pertaining to your loan account no: - 4508177
Dear Sir / Madam,
Further to the discussions we had with you and in pursuance to your request vide letter dated 22-12-2023 to consider
settling the dues on account of your exceptional circumstances in respect of abovementioned Loan Account, L&T
Finance Ltd. (“L&T Finance”) has agreed to settle the dues for an amount of Rs. 9800/- (Rupees ________ only)
(“Settlement Amount”) against the total outstanding of Rs..127556 /- (Rupees __________ only). The said Settlement
Amount shall be paid as below:
Amount payable Date Mode of payment Details of cheque
Sr. No.
(In tranches) (dd/mm/yyyy) (cash/cheque/online) (if any)
1. X 22-12-2023 ONLINE/CASH
2. X
Total 9800
Settlement xx
Amount
1. This settlement is without prejudice to the rights of L&T Finance Ltd under loan agreement to take necessary
steps against you in accordance with law in the event of any breach committed by you.
2. In the event of your failure to pay the Settlement Amount within the timelines mentioned herein, this one-
time settlement offer will become null and void and waivers/concessions, if any, granted shall stand
withdrawn with immediate effect and you will be liable to pay the total outstanding as on date with interest
as per the terms and conditions of the loan agreement executed by you.
3. Please note that any legal action initiated against you will continue till the payment of the Total Settlement
Amount as mentioned in this letter. Further, this settlement is without prejudice to any criminal proceedings
initiated against you under any regulatory requirement or otherwise. It is further stipulated that any legal
proceedings, claims and demands initiated or complaints lodged by you or on your behalf against L&T
finance Ltd and/ or its employees, officials and representatives pertaining to this loan shall be withdrawn
unconditionally with immediate effect by taking all the necessary steps from the date of acceptance of this
letter.
4. Further, in accordance with the RBI Framework for Compromise Settlements and Technical Write-offs
issued on June 8, 2023 and the L&T Finance policies, you shall be subject to the cooling the period before
any further loan/exposure is granted by L&T Finance.
5. For your information and understanding, we wish to advise you that as per the current procedure of Credit
Bureaus, if a matter is closed by paying an amount which is less than the actual outstanding amount on a
certain date, the Credit Bureau records will reflect the status as “settled” and the Credit Bureaus do not
delete the records in such cases. This is the standard procedure. Accordingly, your records in Credit
Bureaus also reflect as “settled” as per normal procedure (except in written off cases where it shall reflect
as “Write Off"). In case, you want to have clear credit record and 'NIL' outstanding dues, the account needs
to be paid in full, i.e., balance principal amount, if any, along with balance and accumulated interest till date.
Please sign a copy of this letter and acknowledge receipt as token of your confirmation.
Yours Sincerely, Accepted
VINAYAK RAMBADE
For L&T Finance Limited Mr. / Ms SHEHNAZ HARUN SAYYAD
Authorized Signatory Authorized Signatory
