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Mo. 7859883500
Email: legal@chinmayfinlease.com
Enrollment No. : G/1700/2009

SWAPNIL SHAH
Advocate
Office Address: 205, Sumeru Complex above Tanna travels Paldi Ahmedabad 380006.

NOTICE
Through Email
Date: 14-07-2024

To,
Karthikeyan Kanakaraj
4/146, Singaperumalkoil, Singaperumalkoil, Chengalpattu, Tamil Nadu, India
PAN: BHYPK0990B
Email: karthkanakaraj@gmail.com
Mobile No: +91 8939175266

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 Limited which is a Non-Banking
Financial Company (NBFC), duly registered under Companies Act, 2013, having its registered office at ,
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 had lent & advanced a sum of Rs. 74,000/- (Seventy Four Thousand Only) which was your
approved loan amount towards your Personal loan through mobile application named “LENDITT”. A
valid and signed agreement was executed with you, and based on your loan approval with Loan ID-
858571 payment was deposited into your bank account using IMPS bank transaction id- UTR Number
409315850827, below are the bank account details:

Bank Name:AXIS

Account Number : 921010014876267

Bank IFSC Code:UTIB0004765

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2. Based on the loan agreement which was executed on 02-04-2024 which was digitally signed by you
consisted of all the terms & conditions. The said amount was repayable within a period of 99 days
along with the interest as set out in the Key fact statement, Loan Sanction letter & Agreement signed
by you as mentioned aforesaid. 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 outstanding due
amount.

3. The repayment schedule for the aforesaid loan amount was as under;

a. Second Installment dated 09-06-2024 for an amount of Rs. 29,507/- (Rupees )

b. Third Installment dated 09-07-2024 for an amount of Rs. 28,379/- (Rupees )

4. The said payments dated 09-06-2024 and 09-07-2024 respectively came to be dis-honored by your
banker with a reason of “Balance Insufficient”.

5. The aforesaid installment dated 09-06-2024 and 09-07-2024 was wilfully defaulted by you and
subsequently you had assured my client to get it paid at earliest and relying upon the assurances
given by you; my client had granted you time to repay both the outstanding Installments against the
total outstanding Rs. 57,278/- till 14-07-2024 but to the utter shock and surprise of my client the ECS
mandate was again rejected on 14-07-2024 from your banker with a reason “Balance Insufficient”.

6. Since you have willfully defaulted paying the remaining amount of the aforesaid EMIs 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 EMIs amount which sums up to Rs. 57,886/- (Fifty Seven
Thousand Eight Hundred and Eighty Six Only) as on 14-07-2024 which is inclusive of the aforesaid
installments.

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. As per the Loan Agreement duly signed by both the parties, in the event of such a default, We are
entitled to recover the overdue amount along with Rs 5000/- +GST as legal charges incurred in
connection with such recovery. These charges include, but are not limited to, attorney fees, court
costs, and other related expenses necessary to enforce the terms of the Agreement.

10. For any further clarification and information please contact company’s authorized person on
+917600012571

11. If payment is already processed then please provide us with the confirmation as soon as possible.

Place: Ahmedabad

Date: 14-07-2024 Authorized Signatory for

Chinmay Finlease Limited

Through Me,

SWAPNIL SHAH