Ref: IARC /Retail/2023 - 2024/Loan Closure CLM55425
29 Dec, 2023
Pranabkumarmohanty
Loan Details:
Loan Account No (LAN): 13091975 Loan Type Unsecured
Name of Co-Borrower NIL
Loan acquired from / Loan assigned by NAVI
SUB: Closure of loan account
Dear Pranabkumarmohanty,
As you are aware, the said loan account with NAVI has been assigned to International Asset Reconstruction Company
Private Limited, acting in its capacity as trustee of RetCo-4 Trust (hereinafter referred to as “IARC”) vide an Assignment
Agreement. Pursuant to the said Assignment, Assignee i.e., IARC has stepped into the shoes of NAVI and has become the
lender and all the rights, title and interests of NAVI are now vested with IARC in respect of the above mentioned loan
account. Accordingly, IARC has also become entitled to recover from you as the Borrower/s, the total dues along with
interest and penal interest at contractual rates and other charges till date of realization (hereinafter referred to as “Existing
Liability”).
We wish to inform you that total dues payable by you under the said loan account as on 29 Dec, 2023 is Rs. 14,403.95
(Rupees Fourteen Thousand Four Hundred Three Rupees And Ninety Five Paise Only)
We are agreeable to your proposal to close the above mentioned loan account. Accordingly, you are requested to deposit an
amount of Rs. 7,500 (Rupees Seven Thousand Five Hundred Rupees Only) before 25 Jan, 2024, for closure of your above
mentioned loan account. The amount shall be payable as per the schedule given below
Due Date Amount Payable (Rs.)
29 Dec, 2023 (upfront payment) 2,500
26 Jan, 2024 5,000
TOTAL 7,500
It may be noted that any failure to make the payments as per this schedule shall automatically render this letter as cancelled,
revoked and withdrawn and all payments due as per the original loan agreement/s would become due and payable forthwith.
Further, on such failure, any part payment made under this letter shall be adjusted against the outstanding dues payable by
the Borrower to IARC, in accordance with the terms of the loan documents executed by the Borrower with NAVI. Further,
without any reference or recourse to you, IARC will be entitled to initiate / continue the legal proceedings to recover the
entire outstanding sums due and payable by you to IARC in accordance with the loan documents.
This letter is being issued without prejudice to our rights, claims and interests as applicable under any law. There shall be no
extension in the period, for the payment of amounts as mentioned in the above schedule. All existing securities, guarantees,
and legal documents shall remain in full force and effect till the entire amount as agreed above is paid to the satisfaction of
IARC.
International Asset Reconstruction Company Private Limited
CIN No.: U74999DL2002PTC117357; E: iarc@iarc.co.in; W: www.iarc.co.in
Corporate Office Registered Office
A-601, 6th Floor, 215 Atrium 406, DLF South Court,
Andheri - Kurla Road, Andheri (East) Saket, New Delhi - 110 017
Mumbai 400 093; T: +91 22 67363000 T: +91 11 40235000
Upon receiving the amount in the manner as mentioned above, none of us shall have any claim of whatsoever nature against
the other in respect of this account and in case any one of us has initiated any action, legal or otherwise, shall co-operate to
put an end to the same and take steps accordingly.
Please note,
1. You may login to our resolution portal and make online payment through Debit Card / Net Banking / UPI. You can
also pay online through NEFT / RTGS / Fund Transfer / IMPS/ Payment Gateway details shared by our team.
Alternatively, you make the payment via Cheque / Cash in HDFC Bank branches in the Client Code
"IYM4TWSZVJ" and Payee Name "IARC CMS Collection Account".
2. Consequent upon receipt of all payments as per the above mentioned schedule and credit of the same to your loan
account, No Dues Certificate will be issued to you. Pursuant thereto, the original title documents would be released
to you. This process may take approximately 30 (Thirty) working days.
3. In order to obtain the original property documents, an acknowledgement needs to be given by all the Borrowers and
Co-Borrowers. Alternatively, they may jointly authorize a representative to do the same.
4. Under an initiative of Government of India and the Reserve Bank of India (RBI), all Financial Institutions are
required to share customer/borrower data with Credit Information Companies (CICs). CICs are repository of
information shared by Banks, Financial Institutions and they collect, maintain and provide credit information
of all borrowers to Financial Institutions. This information may impact the credit scores of borrowers and
availability of credit in future. Your data shall be periodically shared with CICs as per the defined process.
Thanking You, Yours Faithfully,
For International Asset Reconstruction Company Private Limited
Authorized Signatory
International Asset Reconstruction Company Private Limited
CIN No.: U74999DL2002PTC117357; E: iarc@iarc.co.in; W: www.iarc.co.in
Corporate Office Registered Office
A-601, 6th Floor, 215 Atrium 406, DLF South Court,
Andheri - Kurla Road, Andheri (East) Saket, New Delhi - 110 017
Mumbai 400 093; T: +91 22 67363000 T: +91 11 40235000
