Mo.

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Email: devendra.patkar@gmail.com
Enrolment No. : G/405/2001

Devendra D. Patkar
Advocate
D/502, Sahjanand Homes, Chenpur Road, Chenpur New Ranip Ahmedabad - 382470.

NOTICE
Through Email
Date: 18.5.2023

To,
Sadiram Akhil
3-16-175,
Peddamma Gadda,
Warangal,
Telangana, India,
PAN: ISQPS0955C
Mobile No: +91 9603352823

Subject: Statutory notice under section 25(c) of The Payment

and Settlement Systems Act, 2007

          Under the instructions and on behalf of my client, CHINMAY FINLEASE LTD. which is a Non-Banking

Financial Company (NBFC), duly registered under Companies Act, 2013, having its registered office at

MAHESH BHUVAN AZAD CHOWK AT & PO BHABHAR DIST BANASKANTHA GJ 385320, India and The

legal procedures of the loans given to the customers are done through our branch office situated at 507,

Maple Trade Centre, Near Surdhara Circle, Memnagar, Ahmedabad-380059, Gujarat. (‘My Client’ for short), I

serve you this notice under section 25(c) of The Payment and Settlement Systems Act, 2007 (‘the Act’ for

short), as under:

1. My client is Non-Banking Financial Company (NBFC). That against valid and signed agreement given

by you, and based on your loan application (Loan ID- 394894) my client had lent & advanced a sum of

Rs. 12,500/- (Rupees Twelve Thousand Five Hundred Only) which was your approved loan amount

towards your Personal loan through mobile application named “LENDITT” where payment was

deposited into your bank account using RAZORPAYX bank transaction id- UTR Number

310317960919, below are the bank account details:

Bank Name: State Bank of India

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Account Number : 00000036253167089

Bank IFSC Code: SBIN0021503

2. That you had also signed a loan agreement which was executed on 13.4.2023 and was digitally

signed by you confirming all the terms & conditions. The said amount was repayable within a period of

62 days along with the interest as set out in the Loan Sanction letter & Agreement signed by you as

mentioned aforesaidly. It was further agreed that in-case you commit default in making the instalment

you are bound & liable to pay additional interest/penalty on the entire loan amount.

3. The repayment schedule for the aforesaid loan amount was dated 13.5.2023 for an amount of Rs.

7,800/- (Rupees Seven Thousand Eight Hundred Only).

4. The aforesaid instalment dated 13.5.2023 was willfully defaulted by you and subsequently you had

assured my client to get it paid at earliest.

5. That relying upon the assurances given by you; my client had granted you time period to repay the

outstanding EMI against the total outstanding debt but to the utter shock and surprise of my client, the

said payment came to be dishonoured by your banker with a reason of “Balance Insufficient” on

13.5.2023 which is inclusive of the aforesaid installment.

6. Since you have willfully defaulted paying the EMI, amounting to Rs. 7,800/- (Rupees Seven Thousand

Eight Hundred Only) and the said amount was not credited through ECS in the account of my client

from your account and as it was agreed that in-case you commit default in making the instalment you

are bound & liable to pay additional interest/penalty on the said EMI amount which sums up to Rs.

8,112/- (Rupees Eight Thousand One Hundred and Twelve Only) as on May 18, 2023.

7. Therefore, you have committed an offence punishable under section 25(c) of the of The Payment and

Settlement Systems Act, 2007 and therefore upon instructions of my client, I hereby serve you this

legal notice before initiating prosecution against you and further instruct you to make a payment of the

aforesaid amount to my client within 15 days from the receipt of this notice, failing which my client

shall be compelled to file a criminal complaint against you before the competent Criminal Court having

jurisdiction to try cases under the said Act at your cost, risk and consequences.
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8. It is further informed that my client upon succeeding in proving its case, you may be punished with an

imprisonment for a period up to two years together with compensation up to twice the cheque amount.

That, the said actions of your part also fall within the scope and ambit of various provisions of the

Indian Penal Code including section 406, 420 as from the totality of events it is evident that your

dishonest intention from the very inception was to deceive, cheat and defraud my client.

9. It is stated that since this notice is necessitated due to your willful default, you are required to pay the

cost of Rs.5,000/- thereof. You are hereby called upon to immediately pay the same.

10. For any further clarification and information please contact company’s authorised person on

8488997216 from Monday to Saturday. (Timing: 10:30 A.M to 7:30 P.M)

11. Please ignore if payment is made

Place: Ahmedabad

Date: 18.5.2023 Authorized Signatory for

CHINMAY FINLEASE LTD

              Through Me,

    Devendra D. Patkar