Notice

Reference: Notice ID IN83-3074
Date: 20-12-2022
EMAIL / WHATSAPP / RPAD

(WITHOUT PREJUDICE)
To:
SHAIKH GUFRAN MOHAMMAD YUSUF

Borrower
245 DAUDPURA MAHEMDABAD MEHMEDABAD MEHMEDABAD KHEDA GUJARAT 387130 INDIA STATE GOVT EMPLOYEES-7TH
PAYPrincipal district courtRoom no 222PANCH MAHALSGUJARAT389230INDIA
[email protected]
9978641193;
Sub: Loan Recall Notice for payment of outstanding dues of Rs. 437764 and Notice under Section 21 of Arbitration and Conciliation Act, 1996, in
respect of loan bearing number PPR001306289506
Sir / Madam,
On behalf of and upon instructions of my client, Axis Bank Ltd, having its registered office at Gigaplex, 3rd Floor, Mugalsan Road, TTC Industrial
Area, Airoli, Navi Mumbai-400708, (hereinafter referred to as ‘my client’), I address and serve upon you this statutory notice and state as under:
1. That my client is a banking company within the meaning of the Banking Regulation Act, 1949, and and is engaged, inter alia, in the business of
providing loan, finance, credit card facilities in accordance with the guidelines issued by the Reserve Bank of India from time to time.
2. That you approached my client seeking a PERSONAL LOAN loan, and, on the basis of various documents, representation and information
submitted by you, and after completion of requisite formalities, my client agreed to sanction the said loan facility, and accordingly, my client
disbursed and you obtained a sum of Rs. 500000 via loan agreement bearing number PPR001306289506 on 07-12-2021 in accordance with
the terms and conditions contained in the loan documents.
3. That, as per the loan agreement executed inter-se, you undertook to perform all the obligations stated therein, which included timely and
regular payment of instalments, payment of interest and charges, at the rates specified in the loan documents.
4. That you committed an act of default by failing and neglecting to pay various amounts of instalments which fell due and payable in terms of the
said agreement. As per the agreement, in the event of default, my client is entitled to call upon you to pay forthwith the outstanding balance of
the loan together with interest, additional interest and other charges. In spite of repeated reminders, requests and follow-ups sent by my client
to you for the settlement of outstanding dues under the loan facility, till date an outstanding amount of Rs. 437764 continues to remain overdue
and pending.
5. That you are hereby called upon to forthwith pay to my client, the outstanding amount of Rs. 437764 within 7 days from the date of receipt of
this notice, failing which, my client shall be constrained to initiate appropriate legal proceedings including but not limited to civil and / or
criminal proceedings and / or police complaint, entirely at your cost and consequences which could entail imprisonment, hefty fines, and
attachment and sale of your property / asset.
6. That, as per the agreement, any dispute, controversy and / or claim shall be resolved by arbitration, and in light of the amendments in the
arbitration law and the judicial pronouncements regarding appointment of arbitrators, with a view to provide each party full opportunity to
present its case fairly and conveniently, and in order to facilitate the conduct of arbitration proceedings, administrative assistance by a suitable
institution or person was evaluated. For this purpose, the list of institutions offering Alternative Dispute Resolution (ADR) services including
through Online Dispute Resolution (ODR) was considered. Presolv360 is one such neutral institution included in the said list that provides
administrative support to the parties, has no interest in the outcome of the dispute and there is no conflict of interest. Accordingly, the dispute
shall be resolved by arbitration under the Arbitration and Conciliation Act, 1996, and the same shall be administered by Presolv360. The
aforesaid proceedings shall be carried out via Presolv360's platform through an independent, qualified and competent sole arbitrator from its
panel of arbitrators. The juridical seat of arbitration shall be as per the agreement between the parties and the language of the arbitration shall
be English. The decision of the arbitrator shall be final and binding on the parties.
7. For the sake of added convenience and communication, your contact details as below shall be provided:
[email protected] , 9978641193 , ,
8. That if any of the aforementioned details are incomplete or incorrect, or if you have anything to say in respect of the above, you are required to
intimate my client within 7 days from the date of receipt of this notice, failing which, it will be understood that the aforementioned details are
correct and that you have waived your right to object to the above.
9. That, in the event, you are interested in amicably settling this matter, you can use the link provided in the email / message.
Kindly ignore this statutory notice in case you have already cleared the aforesaid dues. For any clarification, please feel free to contact Sonakshi
Dekate: 02223026365.
Copy of this notice is retained by my office for further action.
Sincerely,
Parshva Jayesh Shah
Advocate, High Court

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Reference: Notice ID IN83-3074

EMAIL / WHATSAPP / RPAD

SHAIKH GUFRAN MOHAMMAD YUSUF

Copy of this notice is retained by my oﬃce for further action.

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