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    SEC 25 JANARDHAN N

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    SEC 25 JANARDHAN N

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    SEC 25 JANARDHAN N

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    of 2

    UDIT SHARMA AND ASSOCIATES

    ADVOCATES AND LEGAL CONSULTANTS


    [email protected]
    By R.P.A.D./Speed Post/ Email
    23/09/2024
    CG/Sep-24/SOUTH/P-94/14668-22259
    REF: 119134889/25/P-94/TW
    To,
    Janardhan N (Document)
    Aarvi Elegance Ashirwadh Classic 7Th Cross Road E City Phase 1
    Kammasandra
    Bangalore Karnataka 560100
    (ZD033947199IN)

    SUB: Notice of demand under Section 25 of the Payments and Settlement Systems Act, 2007 (“Act”)
    Dear Sir/Madam,
    Under instructions and on behalf of my clients IDFC FIRST Bank Limited having their office at 4th Floor, 401-407, A-Wing,
    Technopolis Knowledge Park, Mahakali Caves Road, Andheri (E), Mumbai – 400093, I hereby serve upon you this Legal Notice to the
    following effect:
    1. That my client had sanctioned TW Loan facility vide Loan Account No. 119134889 (hereinafter referred to as the “Loan” facility)
    for an amount of Rs. 142051.00/-, which was repayable by you in 24 Equated Monthly Installments (EMI’s) and the said facility was
    duly sanctioned and disbursed after you executing the requisite Loan and other documents on certain terms and conditions.
    2. That towards the discharge of Equated Monthly Installments (EMIs) on the above said loan, you had agreed to pay the same to my
    client through ECS / Direct-Debit Facility and in this regard, you had issued standing instructions to my client to debit EMI Amount
    as per account statement every month from your Bank Account. That in view of the above, my client executed the Electronic
    Clearing Scheme / Direct Debit Facility towards the EMI Amount Due in the above-mentioned loan through IDFC FIRST BANK,
    and the same was returned dishonoured. The details of ECS / Direct Debit Facility bouncing are mentioned herein below:

    Bank Name Kotak Mahindra Bank Ltd


    Bank Account No. 4948839937
    Amount of ECS/Direct Debit Rs. 7339.00/-
    Reason of Dishonour Balance Insufficient
    Date of ECS/Direct Debit 03/09/2024
    Date of Bouncing 03/09/2024
    Transaction ID 701791230147
    Unique Mandate Reference No. KKBK7012806230012901

    3. That the above ECS/NACH drawn by you on Kotak Mahindra Bank Ltd was deposited by my client with their bankers i.e. IDFC
    First Bank, UNIT NO.107&108, GR FLR, PRESTIGE PLAZA, MOTHER DAIRY RD,MANDALKUNTE VILLAGE,
    CHIKKABOMMASANDRA, YELAHANKA, Account No. 97668102174, and the said ECS/NACH/Instrument was
    dishonored vide return memo(s) dated 03/09/2024.
    4. It is pertinent to bring to your Notice that dishonour of the Direct Debit Transaction (i.e., dishonour of electronic funds transfer as
    per Section 25 of the Act) & non-payment in response to this Notice shall constitute commission of offence punishable under the Act
    with imprisonment for a term, which may extend to two (2) years, or with fine which may extend to twice the amount of the
    electronic funds transfer, or with both. In addition to the punishment, the Courts are also empowered to grant compensation, at the
    cost of the defaulter (i.e., you the Noticee herein) to the Complainant (i.e., my Client) towards the interest, expenditure & costs
    incurred by the Complainant in pursuing the Complaint.

    Onward Coworkx, UG, E-44/3, Pocket D, Okhla Phase II, Okhla Industrial Area, New Delhi-110020.
    UDIT SHARMA AND ASSOCIATES
    ADVOCATES AND LEGAL CONSULTANTS
    [email protected]
    5. That vide present demand Notice, I on behalf of my client hereby call upon you to pay and liquidate aforesaid amount of the
    dishonoured transaction for ECS / Direct Debit Facility of Rs. 7339.00/- without any delay and demur but not later than 15 (fifteen)
    days from the receipt of this Notice, to my Client; failing which, I have strict instructions from my Client to initiate appropriate legal
    proceedings against you, the Noticee, without any further reference and at the costs, risks and consequences of which you, the
    Noticee, shall be solely liable. Please note that issuance of the present Notice does not constitute waiver of my Client’s other legal
    rights to initiate further/other legal proceedings, apart from already stated herein above, for the recovery of the above said amount
    and the Notice is being issued without prejudice to my Client’s right to enforce the other terms and conditions of the Agreement and
    any other documents executed by you with my Client.

    Yours Faithfully,

    Udit Sharma, Advocate


    For-Udit Sharma and Associates

    Kindly ignore the notice if the payment has been already made. For any written communication you may please write back to the sender.

    Onward Coworkx, UG, E-44/3, Pocket D, Okhla Phase II, Okhla Industrial Area, New Delhi-110020.

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