Date: 09-11-2024
To,
Name: TALARI SUGUN SUNDAR PAL / 8333003355
Address: S/O Talari Shalem Shah, 7-32, old govarenment hospatal daggara, chebrolu, unguturu
mandalam, Chebrolu, Unguturu, West Godavari, Chebrolu, Andhra Pradesh, India, ,
West Godavari, ANDHRA PRADESH, 534406
Email:
[email protected] DEMAND NOTICE
Subject - Demand of credit facilities granted to TALARI SUGUN SUNDAR PAL,
("Borrower/You/You, the Noticee") from Krazybee Services Private Limited and
Cholamandalam Investment and Finance Company Limited through KreditBee
platform.
Dear Sir / Madam,
1. We are concerned for Our Client, Krazybee Services Private Limited, a company incorporated
under the provision of the Companies Act, 2013 having its registered office at 3 rd Floor, No.128/9,
Maruthi Sapphire, HAL Airport Road, Murugeshpalya, Bengaluru 560017 (hereinafter referred to as "
Our Client "). We issue this demand notice to You, the above-named Noticee, on behalf of and under
the instructions of Our Client. That Our Client is a private limited company and registered with the
Reserve Bank of India as a non-deposit taking, systemically important, Non-Banking Financial
Company, engaged in the business of facilitating different loan products to its customers.
2. That Our Client along with Cholamandalam Investment and Finance Company Limited under co
lending arrangement, has sanctioned a digital loan of an amount INR 3000 ("Loan") through KreditBee
app, at the request of You, the Noticee, on the terms and conditions as set out in the loan agreement
dated 16-08-2024 ("Loan Agreement") along with other documents (together hereinafter referred to as
"Transaction Documents").
3. Upon execution of the Transaction Documents, the Lenders has disbursed the Loan to You and
You have utilized the Loan under Loan ID KB240816KRQMZ.
4. As per the terms and conditions of the Transaction Documents, You were required to repay the
Loan along with interest, fees and other charges in 4 Equated Monthly Instalment ("EMI"). However,
you have not paid the amount of INR 859 ("Overdue Amount") toward the EMI for the month of
October, 2024.
5. Despite Our Client"s numerous reminders via phone calls and messages, the Overdue Amount
remains unpaid to date. This has led to breach of the covenants of the Transaction Documents.
Further, we want to inform you that if You do not pay the Overdue Amount and comply with this
notice, Our Client being the Lender:
i. will have the right to share your default details with Credit Information Companies (CICs)
viz: Transunion CIBIL Limited; Experian Credit Information Company of India Private
Limited; Equifax Credit Information Services Private Limited and CRIF High Mark Credit
Information Services Private Limited. Do note that all the Banks and Non- Banking Financial
Companies provide credit facilities after verification of the credit history of the customer from
CICs, a default history against your name could jeopardize your future credit
raising/borrowing.
ii. may, as per standard terms and conditions recall the entire loan advanced in view of the
default(s) committed by you in repaying the EMIs as per repayment schedule.
6. Therefore, we hereby request you, the Noticee to treat this notice with utmost seriousness and
arrange to repay INR 859 within 10 days from the date of receipt of this notice, failing which we shall
7. In case You fail to make payment within the specifies timeline, as mentioned aforesaid, it shall be
presumed that a dispute has been arisen between You and Our Client. Please note that Our Client
may take necessary legal actions, including but not limited to initiating appropriate Civil/Criminal
proceedings or arbitration proceedings under the Arbitration and Conciliation Act, 1996, to settle the
dispute and recover its entire dues along with interest and other charges, for which You shall be
responsible for the costs and consequences.
8. Kindly also note that this demand notice is issued without prejudice to any of Our Client"s rights,
and remedies available under the Transaction Documents, or under applicable law or both, in respect
to the Loan.
9. You are liable to pay a sum of INR 5,000.00 as necessary cost and expenses of sending the
present legal notice to You.
10. Copy of this legal notice is also kept at our office for further ready reference it required in future..
Yours faithfully,
(Authorized Signatory)
