Ref. Id: UBL| DLN|AUG24|33 Date: 19.08.
2024
DEMAND LEGAL NOTICE
REGISTERED POST
To,
Rahul Ranjan
RES 1st, 12, 3RD CROSS, A-BLOCK, VINAYAKA NAGAR, KONEN BENGALURU
Bangalore North KARNATAKA 560017
Rahul Ranjan
RES NO 1870 FOURTH FLOOR ROOM NO 4, 4TH MAIN 6TH C CRO BENGALURU
Bangalore North KARNATAKA 560075
Sir/Madam,
Subject: Demand Legal Notice for Loan Account Number LNBNG41623-246860782.
Under instructions and on behalf of our client Incred Financial Services Limited (Formerly known as
KKR India Financial Services Limited), a non-banking financial company having its Registered
Office at Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C - 70, G Block, Bandra - Kurla
Complex, Bandra East, Mumbai - 400051, and one of its Regional Office at 406, 4th Floor,
Competent House, Connaught Place, Block F, New Delhi (110001) we hereby serve upon you the
above named addressee, the following notice.
1. That our client is inter-alia engaged in the business of providing the loans and finance facilities to
its customers and you had approached to our client for obtaining a “Unsecured Business Loan –
FLIPKART INBT” facility. That you had assured our client that the Loan which provided to you
would be repaid regularly without any delay or default.
2. That based on your representation & assurance of repayment, our client had disbursed you the
loan amount of INR 100485/- vide Loan Account No. LNBNG41623-246860782 the loan
agreement which was duly executed between you and our client had inter alia agreed to abide by
the terms and conditions governing the above said Loan Agreement.
3. That you have also agreed to make repayment of such loan/credit amount availed by you, by
paying monthly installments/ other charges including stamp duty and registration fees on the
respective due dates, as set out in the repayment schedule or as per statement of account raised
LLPIN – AAX - 4878
Mumbai | Delhi | Bangalore | Odisha | Chandigarh
✉ legal@kabishlegalcy.in | 🌐 https://www.kabishlegalcy.in/
upon you by our client, which is the essence of the said Agreement. Further the said Loan was
repayable in Equated Monthly Installments (EMI) of an amount of INR 9502/- each.
4. That according to our client, in spite of repeated demands, you have committed series of defaults
of the terms and conditions of the said Agreement and failed to maintain the financial discipline to
pay the monthly installments/fees/other charges towards repayment of the loan amount on the due
dates and interest and other charges thereto. Hence, the same constitutes the breach of the terms of
the said Agreement executed by you with our client. Further, you also failed to clear your
outstanding dues with our client, despite the repeated requests and reminders of our client to pay
the outstanding dues and failing which an amount of INR 17680.32/- inclusive of interest and
other charges is pending and payable as on 17.08.2024.
That by this legal demand notice, we hereby call upon you the above named addressee, to pay our
client, the overdue amount of INR 17680.32/- along with INR 2,000/- towards the cost of legal
notices, within 3 days from the receipt of this notice. And in case you failed to make the above said
payment within the above said time period, our client shall be restrained to:
a) Recall and Demand the entire loan outstanding along with interest and all costs, expenses etc.
b) Information about your debt will be shared with other financial institutions and banks (through
CIBIL). Please be informed that you may have hurdles in availing any other loan (two-wheeler,
car, credit card) in future from any other financial institution. Further kindly be informed that now
days many companies are checking the CIBIL records of people they intend to employ or deal
with and as such your future prospects may also suffer on that account;
c) Initiate legal proceedings for recovery including Arbitration Proceedings and seek
attachment of your assets, for the recovery of the dues of our client etc.
The present notice is without prejudice to the rights of our client to initiate appropriate legal
proceedings against you for the recovery of the entire Loan outstanding along with all other amounts
due and payable by you to our client.
For further clarification please connect with Prabhakaran M at 7550209143.
Kindly ignore this communication in case you have already settled the above amount due on your
Account. A copy of this notice is retained in our office for future reference.
Yours faithfully,
Thanking you,
Authorized Signatory
Kabish Legalcy LLP
LLPIN – AAX - 4878
Mumbai | Delhi | Bangalore | Odisha | Chandigarh
✉ legal@kabishlegalcy.in | 🌐 https://www.kabishlegalcy.in/
