To,
Ms. Sharlet Malvankar
The Principal Nodal Officer
ICICI Bank Ltd Bandra Kurla complex Mumbai 400051
Email: digitallending@icicibank.com
headprivatebanking@icicibank.com
Subject: Intimation Regarding Inability to Pay EMI
Dear Sir/Madam,
I hope this letter finds you well. I regret to inform you that due to unforeseen
financial difficulties, I am currently unable to meet my obligations towards the
repayment of my loan’s monthly EMI. In light of this, I am seeking an amicable
resolution through a financial settlement for the outstanding balance on my ICICI . I
sincerely request that this matter be resolved expeditiously and, in a manner,
conducive to both parties' interests. Ideally, I would prefer to handle further
communications via email for efficiency and transparency.
This correspondence is issued with the guidance and consultation of my legal counsel
regarding the credit facility extended to me by ICICI. It is pertinent to inform you
that due to extenuating financial circumstances, I am presently unable to discharge
the outstanding loan repayment. After thorough contemplation and examination of
my available options, I hereby seek your understanding and request a reasonable
extension to manage my finances more efficiently, so that I may regain the ability to
meet my financial obligations.
In this regard, I request that you cease and desist from further harassment through
repeated telephonic communications, as I am already aware of my obligations and the
legal recourse available. It is also to be noted that, under prevailing case laws, the
Bank, as the principal, is liable for the actions and conduct of its recovery agents. I
respectfully urge you to refrain from engaging in any unlawful or unethical conduct
regarding this matter.
For your reference, the pertinent details of my Credit card are as follows:
• Name: Sukhdev Prasad Soni
• Credit Card: XXXXXXXXXXXX2014
• Outstanding Balance: 84,000
Furthermore, I formally request that no debits or Post-Dated Cheques (PDCs) be
processed against my account, as there is currently insufficient balance to
accommodate such transactions. In light of my financial hardship, I implore you to
exercise discretion and refrain from initiating any punitive measures that would
further exacerbate my financial situation.
I believe that having a designated location for meetings will improve the efficiency of
communications and facilitate the negotiation of a fair and just settlement. I
respectfully request that your recovery agents coordinate with me to arrange meetings
only at this designated location, in accordance with the guidelines set forth by the
Reserve Bank of India (RBI) and the Banking Codes and Standards Board of India
(BCSBI).
Preferred Location: Vishal mega mart, Indra chouwk khandwa 450001
As per these guidelines, customers should be contacted at their preferred location, and
only if they are not available there, then at the place of residence or, in the absence of
such, their place of business ko ooccupation. In the event that a meeting is proposed
at a location other than my designated address, I hereby assert my right to refuse such
a meeting. Additionally, I wish to remind you that unauthorized entry onto private
property constitutes house-trespass under Section 331 of the Bhartiya Nyaya Samhita,
2023, and I reserve the right to take appropriate legal action should such an incident
occur.
I kindly request that any representative from your esteemed institution attending a
meeting with me provide valid identification and a copy of their authorization letter
from ICICI substantiate their authority to engage in such discussions. Please note
that in the absence of such documentation, I reserve the right to decline participation
in the meeting.
I trust that you will treat this matter with the seriousness it deserves and I look
forward to your prompt response. Should you require any further details or
clarification, I am available to discuss this matter at your convenience.
Thank you for your cooperation and understanding.
Yours faithfully,
Sukhdev Prasad Soni,
+917000059114
To,
Ms. Sharlet Malvankar
The Principal Nodal Officer
ICICI Bank Ltd Bandra Kurla complex Mumbai 400051
Email: digitallending@icicibank.com
headprivatebanking@icicibank.com
Subject: Settlement Proposal for Outstanding Principal for Credit Card Loan
Dear Sir/Madam,
I hope this letter finds you well. I am Sukhdev Prasad Soni having following loans:
Credit Card: - XXXXXXXXXXXX2014
After careful consideration and analysis of my financial situation, I have come to a point where I
can only afford a negotiated settlement amount of Rs. 10,000 to Rs. 15,000 of the total
outstanding. It is important to note that I am currently facing financial constraints due to unforeseen
circumstances beyond my control as I had no source of income and currently, I am the sole bread
earner of the family.
I understand that ICICI seeks full repayment of the outstanding amount; however, considering the
circumstances and my willingness to resolve this matter amicably, I kindly request your
understanding and cooperation towards reaching a mutually beneficial settlement agreement.
Please understand that I got stuck in an unwanted debt trap situation having multiple on-going
loans that I am unable to pay.
I am committed to resolving this debt responsibly and am prepared to pay the first installment after
the settlement letter will be issued. I assure you that we will abide by all terms and conditions
outlined in the settlement agreement once it is reached. I value my relationship with ICICI and
seek an arrangement that allows both parties to move forward on favorable terms. I further want
to bring to your attention that my family on multiple occasions is going through health issues.
In light of the above-mentioned details, I kindly request your reconsideration of my proposed
settlement offer. I believe it represents a fair compromise given my financial circumstances while
still demonstrating my commitment towards clearing my outstanding debt with the ICICI.
I appreciate your attention to this matter and eagerly await your response. Should you require
any further information or documentation to facilitate the settlement process, please do not hesitate
to contact me at the provided contact details. Also please provide an executive for leading the
matter.
Thank you for your understanding and cooperation.
Sukhdev Prasad Soni
+91 7000059114
Date-14/06/2025
