SHREYPRATAP S.

SINGH
ADVOCATE - HIGH COURT OF GUJARAT
OFFICE: B-101, S. G. Business Hub, Off. S.G. Highway, Vasant Nagar Gota – 382470
PHONE NO.: +919427421694 EMAIL: Adv.shreypratap@gmail.com

BY RPAD/COURIER

Date: 15/10/2023

To,
Mr. Rohit Jaypal Balani
C./o. Jaypal Balani
Sole Proprietor of JJ Plastics,
A-59, Ground Floor
Sumer Business Park 2,
Kankariya Ahmedabad
Gujarat – 382330

Subject: Demand Notice under Section 138 of the Negotiable Instruments Act,
1881

Under the instructions and on behalf of my client, RUSHIKA

CAPITAL PVT. LTD., having its registered office at Block No.
33/1, Kanchan Pharma House, Aslali, Ahmedabad: 382426 and
corporate office at 12th Floor, Solitaire Sky, B/s Hyatt Regency,
Ashram Road, Ahmedabad: 380009, I address you this Demand Notice
under Section 138(b) of the Negotiable Instruments Act, 1881

1. I address you this Notice to call upon you to make the payment of
Rs. 66,315/- (Rupees Sixty Six Thousand Three Hundred and Fifteen
Rupees Only), on account of the dishonor/Return/Decline of the
ECS/NACH Mandate bearing Ref No. 5770612998. In furtherance of
the same I state the belowmentioned;
2. That you had expressed interest in availing a Facility Loan for
Business Purpose for your Sole Proprietorship i.e., JJ Plastics
amounting to Rs. 15,00,000/- (Rupees Fifteen Lakh only) from My
Client and had voluntarily agreed upon the Terms and Conditions
presented to you.
3. That You had entered into the Facility Agreement dated 18/07/2023
with My Client. It is stated that the Loan sanctioned to you vide
Sanction Letter dated 18/07/2023 was issued by my client to you
for an amount of Rs. 15,00,000/- (Rupees Fifteen Lakh only) at
23% rate of Interest per annum for the Term of 3 years, bearing
an Equated Monthly Installment (EMI) coming to Rs. 58,065/-
(Rupees Fifty Eight Thousand and Sixty Five Only).
4. That you had opted for the NACH/ESC Mandate in favour of my
Client from your Bank at Kotak Mahindra Bank under the Bank
Account Name as JJ Plastic, having Branch as AHMEDABAD-SUMEL
BRANCH at 43 G F Block A Sumel Business Park 2 B H Ambica Mill
Compound Nr. Vanijya Bhavan Ahmedabad – 380022, Gujarat India for
fulfillment of the EMIs from your Bank Account No. 1614355340 and
the same was to be debited from your account on the 20th of each
month.
5. That on 20/09/2023 when the Mandate bearing Ref No. 5770612998
for the 2nd EMI for Rs. 58,065/- (Rupees Fifty Eight Thousand and

1
 SHREYPRATAP S. SINGH
ADVOCATE - HIGH COURT OF GUJARAT
OFFICE: B-101, S. G. Business Hub, Off. S.G. Highway, Vasant Nagar Gota – 382470
PHONE NO.: +919427421694 EMAIL: Adv.shreypratap@gmail.com

Sixty Five Only) was to be processed, the same was declined and
returned with the ledger report and endorsement stating Code-04,
i.e. “INSUFFICIENT BALANCE”.
6. That despite of various communications, and telephonic as well as
physical reminders by the representative of my client to your
office, you failed to make the payment due to my Client.
7. That this negligence on your part shows your clear dishonest and
fraudulent approach while giving the mandate for the loan availed
made by you. Therefore, it is crystal clear that it was your
intention from inception to cheat our client. By cheating and
committing criminal breach of trust of our client, you have also
committed an offence punishable with 7 years imprisonment under
Sections 406 and 420 of the Indian Penal Code, 1860, alongwith
the Punishment for up to 2 years and fine equal to twice the
amount defaulted by you as per the Negotiable Instruments Act,
1881. Our client reserves their right to initiate appropriate
proceedings for the offence of Cheating and Criminal Breach of
Trust under the Criminal and Civil Law.
8. That you may take note that our client reserves their right to
take appropriate legal action under any other applicable law
otherwise than the proceedings under the Negotiable Instruments
Act, 1881.
9. That you are also liable to make payment of additional Rs. 750/-
(Rupees Seven Hundred and Fifty Only) of the NACH Return Charges
10. That you are also liable to make payment of additional payment of
Rs. 7500/- (Rupees Seven Thousand Five Hundred Only) as part of
the Legal and Professional Fees incurred by My Client in issuance
of this Notice.
11. That you are called upon to make the payment of Rs. 66,315/-
(Rupees Sixty Six Thousand Three Hundred and Fifteen Rupees Only)
immediately within 15 days of receipt of the Notice in accordance
with the provisions of Section 138 read with Section 141 of
Negotiable Instrument Act, 1881 failing which my Client will be
constrained to initiate criminal proceedings against you holding
you completely responsible for all cost and consequences thereof
which please strictly note.

SHREYPRATAP S. SINGH

ADVOCATE