RAVINDER KUMAR

ADVOCATE
MOBILE : 9872199404
Email : [email protected]
BAR ROOM NO. 03, NEW BAR Off-cum-Res: #967FF, SECTOR 21,
COMPLEX, PUNJAB & HARYANA PANCHKULA, HARYANA 134109
HIGH COURT, CHANDIGARH
Ref : No. 225 Dated :22-01-2024

Registered/AD
Legal Notice Dated 22/01/2024

To

1. M/s JP Industries
Through Its Partners Sh. Jai Prakash and Sh. Deepu
Plot No. 60, Industrial Area, Phase 1,
Chandigarh U.T
Pin Code : 160002.

2. Sh. Jai Prakash Son of Ghanshyam

House No. 32, Block E, Colony No. 4,
Industrial Area, Phase 1,
Chandigarh U.T
Pin Code : 160101.

3. Sh. Deepu Son of Ghanshyam

House No. 32, Block E, Colony No. 4,
Industrial Area, Phase 1,
Chandigarh U.T
Pin Code : 160101

Under instructions from and on behalf of my client Union Bank of India,

Branch Office at Industrial Area, Phase 1 , Chandigarh, through its Manager

Sh. Mohit (hereinafter for the sake of brevity referred as ‘My Client’) I, Ravinder

Kumar, Advocate do hereby serve upon you the present legal notice which is as

under:-

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 RAVINDER KUMAR
ADVOCATE
MOBILE : 9872199404
Email : [email protected]
BAR ROOM NO. 03, NEW BAR Off-cum-Res: #967FF, SECTOR 21,
COMPLEX, PUNJAB & HARYANA PANCHKULA, HARYANA 134109
HIGH COURT, CHANDIGARH
Ref : No. 225 Dated :22-01-2024

1. That you the Noticee No. 1 is a Partnership firm. The Noticee No. 2

and Noticee No 3 are the partners in the said firm. That being the

Partners in Noticee No. 1, you, the Noticee No. 2 and 3 looking after

the day to day affair of the Partnership firm i.e Noticee No. 1 and in the

said capacity, you the Noticee No. 2 and 3 has been and has

continued to transact business undertake debts and give valid

discharge on behalf of the Noticee No. 1.

2. That you the aforesaid Noticee No.1 through its partners i.e Noticee 2

and 3 , had applied and availed a CC Mudra Facility from my client at

Union Bank of India situated at Industrial Area, Phase 1, Chandigarh to

the tune of Rs.10,00,000/- as on 18.11.2020 and disbursed the same

in your loan after execution of loan documents. The same Limit was

continued with your CC Mudra account number 260513100001413 in

the name of Noticee No 1. The aforesaid loan facility was availed by

you the above noticees for the business activities of you i.e in the

name and style of M/s LP Industries.

3. That the primary security of the aforesaid loans are Hypothecation of

goods and debts.. The loan facility was availed for the purpose of

running business activities of you as mentioned in para no. 2.

4. That you the aforesaid noticees had executed agreements for

hypothecation on and had put you signatures/Thumb impression after

having accepted all the terms and conditions therein. That you had

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 RAVINDER KUMAR
ADVOCATE
MOBILE : 9872199404
Email : [email protected]
BAR ROOM NO. 03, NEW BAR Off-cum-Res: #967FF, SECTOR 21,
COMPLEX, PUNJAB & HARYANA PANCHKULA, HARYANA 134109
HIGH COURT, CHANDIGARH
Ref : No. 225 Dated :22-01-2024
submitted that agreement to hypothecation as mentioned in para no. 3

to my client i.e Union Bank of India.

5. That the loans amount was repayable in installments and in case of

default of any installment, it was agreed that the bank shall be at liberty

to realize the entire amount of loan in lum sum.

6. That the loan accounts have been running irregular since a long

period. My client repeatedly requested you for the regularization of

your said loan account but despite your various assurance, you failed

to do so with the result that outstanding in the said account is

consistently increasing. Thus, this account is running grossly out of

order and the same has been classified as a “Non Performing Asset”

in the month of October 2023 as on 25th October 2023.

7. That my client-bank is entitled to seize and take possession of the said

hypothecated stocks wherever the same may be, without giving any

notice to the above noticees and without prejudice to the Bank's

rights ,against you i.e the above noticees. It is also contended that

after taking the possession of these properties, my client-bank shall be

at liberty to sell the same by public auction or by private negotiations,

at any price and subject to such terms and conditions and stipulation

as the bank think fit and proper and in doing so, the Bank shall not be

liable for any action, criminal or civil or otherwise, in taking the

possession and selling the said hypothecated stocks for enforcement

of the security, created by the you the above noticees.

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 RAVINDER KUMAR
ADVOCATE
MOBILE : 9872199404
Email : [email protected]
BAR ROOM NO. 03, NEW BAR Off-cum-Res: #967FF, SECTOR 21,
COMPLEX, PUNJAB & HARYANA PANCHKULA, HARYANA 134109
HIGH COURT, CHANDIGARH
Ref : No. 225 Dated :22-01-2024

8. That you have committed default in repayment of the loan as agreed

by you and you have contacted number of times by the representatives

of my client to pay due loan amount and you have been making

promises to pay the amount but despite of same you have failed to

repay the due loan amount. Thus, you breached the terms and

conditions of the aforesaid agreement.

9. That on going through the said loan facility, now a total sum of

Rs.00,00,000/- as on 00-00-2023 [ Rs.00,00,000/- for CC loan account

no. 260513100001413 ] plus further applicable interest along with legal

and miscellaneous expenses are due from you i.e Noticee no. 1, 2 and

3 are, jointly and severally, legally and bound to pay my client. And

also realizable from you to my client for the period thereafter to be

calculated upto date outstanding against you as per account

maintained by my client in its usual and ordinary course of business

which you have miserably and hopelessly failed to pay inspited of

repeated demands, reminders and personal visits of representatives of

my client in the this behalf as sated above.

Now I, Ravinder Kumar, Advocate, therefore, by means of this legal notice

call upon you to make the payments of the aforesaid amount due toward

you on account of loan sought by you from my client along with all interest

calculated up to date and all other expenses thereon or that may hereafter

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 RAVINDER KUMAR
ADVOCATE
MOBILE : 9872199404
Email : [email protected]
BAR ROOM NO. 03, NEW BAR Off-cum-Res: #967FF, SECTOR 21,
COMPLEX, PUNJAB & HARYANA PANCHKULA, HARYANA 134109
HIGH COURT, CHANDIGARH
Ref : No. 225 Dated :22-01-2024

fall due up to date of payment within 10days from the date of receipt of

this legal notice, failing which my client shall be constrained to initiate

appropriate legal action against you with respect to the recovery of the

aforesaid amount of loan in a competent court of law and in such

eventually the entire liability shall be personally borne by all of you.

[RAVINDER KUMAR]
Advocate

NOTE : - A copy of this legal notice has been retained in my office for further action .

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