Sub: Demand Notice Under Section 13 (2) of Sarfaesi Act, 2002
Sub: Demand Notice Under Section 13 (2) of Sarfaesi Act, 2002
You have availed financial assistance with an undertaking for repayment of the said financial
assistance as per the terms of the agreement. In accordance with the agreement, you have taken
a loan on 4/09/2015, bearing account no OCC 100156007220011 for a sum of Rs 20,00,000/-
(twenty lakh only) from Kozhikode district cooperative bank, Thamarasery branch. The below
mentioned property is mortgaged and it is the security for the loan amount, interest and any
other additional expenses to the bank based on the loan agreement.
Based on the document No 2906/2005 of the Kodenchery Sub Registrar office, Sri V.V.joseph
S/o Varkey, valiyanikkal house, P.O. Kuppayakode, PIN 673580 is the owner in possession of
land having extent of 1 Acre in Re Survey No. 57/1 of Padoor Desom, oongapuzha Village,
Thamaraserry Taluk, Kozhikode District.
As per the agreement, you have defaulted in the payment of the loan amount. Despite repeated
requests, you have failed and neglected to repay the said dues. The operation of and conduct of
the above said financial assistance have become irregular and the debt has been classified as
non-performing assets in accordance with Section 2(o) of the guidelines relating to asset
classifications issued by the Reserve Bank of India consequent to the default committed by you
in repayment of debt and interest thereon.
Loan Details
In accordance with terms of section 13(13) you shall not transfer by sale, lease or otherwise the
said secured assets detailed in this notice without obtaining written consent of the Bank. The
bank has the authority to sell the mentioned property as the true owner by virtue of section
13(6) of the act.
This is to remind you that, 60 days from receipt of this notice you'll have to pay the loan
amount, interest and other expenses. If not complied with the notice you will be held
responsible for the irreparable loss sustained. The notice is without prejudice to the banks right
to initiate such other actions or legal proceedings, as it deems necessary under any applicable
provisions of law.