ATUL KUMAR

(Advocate & Legal Consultant)

Enrollment No. D/4673/2010
B-50, 2nd Floor, Dayanand Colony, Lajpat Nagar IV, New Delhi, 110024.

THROUGH E-MAIL/ SPEED POST/WHATSAPP

Ref. ARB/FI/2023/01/CFR-37616 Dated: October 01st, 2023

ABHISHEK DUBEY
98/6 juhi lal colony kanpur, 208014.
Email:-
[email protected]
Mobile Number –: 8830363546

SUBJECT: NOTICE FOR INVOCATION OF ARBITRATION UNDER THE

LOAN DOCUMENTS/AGREEMENTS EXECUTED BETWEEN ABHISHEK
DUBEY AND AKARA CAPITAL ADVISORS PRIVATE LIMITED AND EQX
ANALYTICS PRIVATE LIMITED.
Dear Sir/Madam,
Under instructions from and on behalf of our clients, M/s Akara Capital Advisors Pvt. Ltd.
and EQX Analytics Private Limited. (“Powered by Stashfin”), companies incorporated
under the provision of Companies Act, 2013, as amended up to date and having its Branch
office at 60, Second Floor, Arjun Nagar, Kotla Mubarakpur, New Delhi-110003
(hereinafter referred as “our clients”); we hereby serve you the captioned notice as under: -
1. That EQX Analytics Private Limited, a Company incorporated under the provision of
the Companies Act, 2013 as amended up to date having CIN No.
U74110DL2016PTC2, having its Corporate/Branch office at 60, Second Floor, Arjun
Nagar, Kotla Mubarakpur, New Delhi-110003 and is inter-alia, engaged in the
business of rendering financial/credit facilities, inter-alia, arranging loans etc. to the
intending borrowers, that EQX Analytics Private Limited arranges credit lines facilities
to person through their mobile application ‘StashFin’ (accessible through Google Play
Store and Apple Store) and has lending service arrangement with Akara Capital
Advisors Private Limited (“Powered by Stashfin.com”), which is a Non-Banking
Financial Company (NBFC) duly incorporated under the Companies Act, 2013 on
February 11, 2016 by the Registrar of Companies Delhi bearing CIN No.
U67190DL2016PTC290970, having its registered office at 60, Arjun Nagar, Kotla
Mubarakpur, New Delhi.
2. That our clients are engaged in the business of providing finance to various person
apart from other business activities, as per its prevailing policy and norms. You had
approached our clients to avail credit line/personal loan on monthly repayment basis
and based on your assurance of timely repayment, our clients acceded to your request
for grant of the loan. As you know that timely repayment of the loan as per the
Repayment Schedule was the essence of the Loan Agreement which you specifically
agreed to abide by the repayment schedule. Our client states that at that time you
represented yourself to be financially sound and submitted necessary documents in
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proof of your identity, residence, and other credentials and suggesting your capabilities
for timely repayment of the loan amount sought.
3. That our clients state that based on your request and on acceptance of terms and
conditions and assurance of making timely repayment, our clients had executed various
loan documents including (i) credit line details sheet along with sanction letter (ii) key
fact statement on credit line; (iii) credit line general term and conditions; (iv) payment
undertaking (v) acknowledgement by borrower; (vi) user consent for KYC; (vii)
Platform declaration; (viii) Privacy Policy of Akara and EQX; (ix) schedule of
charges; (x) T&C for online disbursement; (xi) vernacular declaration etc. (“Loan
Documents/Agreements”) along with KYCs, terms and condition of which are duly
acknowledged and accepted by you and thereafter granted loan facility under the Loan
Documents/Agreements dated 21.02.2022 bearing Customer ID - 6790945 of Rs.
25000/-, where under our clients was described as “the Lender”, the addressee as the
“Borrower”. Our clients state that at the time of availing loan facility, you had agreed
inter alia to repay the finance amount along with charges and interest availed by you.
4. That our clients were surprised to note that after availing all the benefits and
advantages of the said loan facility under the duly executed loan agreement, you not
only defaulted in repayment as per schedule but despite several follow ups you have
deliberately not bothered to clear the outstanding dues. That under the circumstances
aforesaid we are instructed to say that you have violated/committed gross breach in due
performance and observance of the terms and conditions of the Loan
Documents/Agreements. Therefore, in accordance with the rights available to our
clients under the terms of the Loan Documents/Agreements, loan facility provided to
you is hereby foreclosed & recalled and the entire loan amount along with other
charges as on date have become due and payable on immediate basis and without any
further delay. You are hereby called upon to make the payment of the due and payable
amount of Rs. 53233/-, which includes overdue EMIs, principal outstanding, interest
and other charges as on date of this Notice, along with all further contractual charges
(that will accrue as due thereon till the date payment is made by you) within 15
(Fifteen) days from the date of receiving this notice. In lieu of the terms & conditions
of the Loan Documents/Agreements, our clients are entitled to recover the aforesaid
due amount by exercising its rights to seek an interim order for freezing of your bank
accounts including creating charge over other property and assets (whether movable or
immovable).
5. Our clients therefore finally call upon you vide this notice to forward to our Clients,
directly, the aforesaid due amount together with interest @ 24% p.a. from due date i.e.,
08.06.2022 till actual realization thereof with immediate effect. Please be informed that
in the event of your failure to do as above, it shall be presumed that a dispute has been
arisen between us and the same shall be referred to the Arbitration of an arbitrator as
per the Loan Documents/Agreements including credit line details sheet.
6. It is further informed that our clients intend to appoint any one of the below named
Arbitrators to adjudicate all issues, disputes and differences between the parties:
 (3)

(i) Mr. Shashank Datta Vashista, Advocate

(ii) Mr. Arun Thapa, Advocate
(iii) Mr. Azhar Alam, Advocate
(iv) Mr. Shailesh Gupta, Advocate

7. It may be noted that you the addressees may choose to nominate any of the arbitrators
as proposed within 15 days of the receipt of this letter. In case no reply is received by
you within stipulated time with regard to appointment of an Arbitrator out of the
proposed Arbitrators, our clients will be at liberty to refer the matter to any of the
above arbitrators to adjudicate upon the dispute under due notice to you deeming it as
your consent on appointment/waiver of any objections that you may have.
We now, take this opportunity to request you to clear the dues as early as possible so that
further litigation can be avoided.
This notice is issued without prejudice to our client’s other rights, remedies and the
documents executed by you for availing the said loan facility and legal/arbitration
proceedings (if any pending) or for initiating or continuing with proceedings for
dishonor of cheques, if any.
Without prejudice to the contentions of our client, in case, you wish to avoid further legal
action, you can contact the phone no: 01147848400 and e-mail ID:
[email protected] of our client.
Copy of notice retained for future reference.
Yours sincerely

Advocate