By RPAD

To:- Date:- 02.11.2018

M/s. Shabarigirivasan Chits Pvt. Ltd.
Represented By Its Managing Director Pratap A S
No.1830, 1st Floor, 26th Main Road,
41st Cross, Jayanagar 9th Block,
Bangalore-560 069

Subject: - Statutory notice U/s. 138 of NI Act.

Under instructions and upon information received from my clients

V. Chendil Kumar, S/o. M. Varadaraj, aged about 45 years, # 73, 6 th
Cross, Thirumalanagar, Attur 2nd Stage, Yalahanka new town, Bengaluru-
560 064, I issue this notice to you as under:-

1. My clients state that you are the Chit fund company and our client
is one of your chit subscriber. My client has subscribed chits under bellow
groups and ticket numbers. Total outstanding towards the said chits is as
bellow.

Sl GROUP TICKETS OUTSTANDING

1 S2E/30 15 to 19 Rs.4,81,500/-

2. I instructed to notify that above said chit group is terminated on

20.06.2018. But you have failed to pay the said prized amount and went
on postponing the issue of payment on one or the other pretext and failed
to pay the said outstanding amount.

3. Finally, after repeated requests and reminders you have agreed to

pay the total outstanding amount. Accordingly, you have issued a cheque
bearing No.001988 dated 31.08.2018, drawn on Kotak Mahindra Bank,

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4th Block, Jayanagara Branch, Bengaluru, drawn in favour of my client
towards the payment of above said outstanding amount. Upon
presentation of the cheque, on its due date through my client’s banker
Indian Overseas Bank, Vidyaranyapura Branch, Bengaluru, the same
were also dishonored and returned vide memos dated 15.10.2018 as
“PAYMENT STOPPED BY DRAWER”. Hence this notice has been issued.

4. My client states that you have issued said both cheques for
discharging your liability due to my client. Your act of issuing cheque and
giving instruction for stop payment clearly demonstrates your intention to
cheat and defraud my client of the money legally due. The dishonour of
cheque is an offence punishable under Section 138 of the Negotiable
Instruments Act, wherein upon conviction, you will be liable to pay double
the cheque amount or undergo imprisonment or both.

THEREFORE, I hereby call upon all of you to pay a sum of

Rs.4,81,500/- (Four-lakhs Eighty-one thousand five-hundred rupees
only), which is covered under above said cheque, to my client within
fifteen days from the date of receipt of this notice, failing which my client
will be constrained to initiate criminal proceedings for your prosecution
U/s. 138 of Negotiable Instruments Act and also a civil suit for recovery of
the entire outstanding amount with interest at 24% per annum, in which
event you will be held liable for all the costs and consequences arising
thereof.

You are liable to pay the notice charges of Rs.10,000/- (Rupees Ten-
Thousand Only) to my client.

Sincerely,

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