Ref. Id: PL|DLN|MAY25|886 Date: 16.05.
2025
DEMAND LEGAL NOTICE
REGISTERED POST
To,
E ASHOK KUMAR
RES 1 SATHYAMMA TEMPLE MUNSIPOLIPOTY OFFICE 515134 PUTTAPARTHI
ANDHRA PRADESH 515134.
Sir/Madam,
Subject: Demand Legal Notice for Loan Account Number LXHYD34823-246504670.
Under instructions and on behalf of our client InCred Financial Services Limited (Formerly
known as KKR India Financial Services Limited), a non-banking financial company having its
Registered Office at above-named 203, 12th floor, B Wing, The Capital, Plot No. C - 70, G
Block, Bandra - Kurla Complex, Bandra East, Mumbai - 400051, and one of its Regional Office
at 406, 4th Floor, Competent House, Connaught Place, Block F, New Delhi (110001) we hereby
serve upon you the above named addressee, the following notice.
1. That our client is inter-alia engaged in the business of providing the loans and finance
facilities to its customers and you had approached to our client for obtaining
“PERSONAL LOAN CREDIT LINE-PRE APPROVED PERSONAL LINE OF CREDIT”
facility. That you had assured our client that the Loan which was provided to you
would be repaid regularly without any delay or default.
2. That based on your representation & assurance of repayment, our client had disbursed
you the loan amount of INR 85000/-, vide Loan Account No. LXHYD34823-246504670,
the loan agreement which was duly executed between you and our client had inter
alia agreed to abide by the terms and conditions governing the above said Loan
Agreement.
3. That you have also agreed to make repayment of such loan/credit amount availed by
you, by paying monthly installments/other charges including stamp duty and
registration fees on the respective due dates, as set out in the repayment schedule or
as per statement of account raised upon you by our client, which is the essence of the
said Agreement. Further the said Loans was repayable in Equated Monthly
Installments (EMIs) amounting to INR 5923/-.
4. That according to our client, in spite of repeated demands, you have committed series
of defaults of the terms and conditions of the said Agreement and failed to maintain
the financial discipline to pay the monthly installments/fees/other charges towards
repayment of the loan amount on the due dates and interest and other charges thereto.
Hence, the same constitutes the breach of the terms of the said Agreement executed by
you with our client. Further, you also failed to clear your outstanding dues with our
client, despite the repeated requests and reminders of our client to pay the outstanding
dues and failing which an amount of INR 62221/- inclusive of interest and other
charges is pending and payable as on 16.05.2025.
5. That by this legal demand notice, we hereby call upon you the above-named
addressee, to pay our client, the overdue amount of INR 62221/- along with INR
2,000/- towards the cost of legal notices, within 3 days from the receipt of this notice.
And in case you failed to make the above said payment within the above said time
period, our client shall be restrained to:
a) Recall and Demand the entire loan outstanding along with interest and all costs,
expenses etc.
b) Information about your debt will be shared with other financial institutions and
banks (through CIBIL). Please be informed that you may have hurdles in availing
any other loan (two-wheeler, car, credit card) in future from any other financial
institution. Further kindly be informed that now days many companies are
checking the CIBIL records of people they intend to employ or deal with and as
such your future prospects may also suffer on that account;
c) Initiate legal proceedings for recovery including Arbitration Proceedings and
seek attachment of your assets, for the recovery of the dues of our client etc.
The present notice is without prejudice to the rights of our client to initiate appropriate legal
proceedings against you for the recovery of the entire Loan outstanding along with all other
amounts due and payable by you to our client.
For further clarification please connect with R Srikanth at 8125516123.
Kindly ignore this communication in case you have already settled the above amount due
on your Account. A copy of this notice is retained in our office for future reference.
Yours faithfully,
KAY & PARTNERS,
Advocates & Legal Consultants
For InCred Financial Services Limited.
