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Legal Document

This document is a loan recall notice addressed to Z Nagaraju from Arrow Law Partners on behalf of Navi Finserv Limited, stating that Nagaraju has defaulted on a loan of Rs. 1,10,000 and is required to repay a total of Rs. 1,20,259 within 10 days. The notice warns that failure to comply may result in legal action and additional penalties. It also provides contact information for further assistance and retains a copy for further action.

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Karanam Prp
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90 views2 pages

Legal Document

This document is a loan recall notice addressed to Z Nagaraju from Arrow Law Partners on behalf of Navi Finserv Limited, stating that Nagaraju has defaulted on a loan of Rs. 1,10,000 and is required to repay a total of Rs. 1,20,259 within 10 days. The notice warns that failure to comply may result in legal action and additional penalties. It also provides contact information for further assistance and retains a copy for further action.

Uploaded by

Karanam Prp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Arrow Law Partners, III Floor, 302 B, A Wing, Queens Corner, Queens Road,

Bangalore – 560001
Email: [email protected]

Reference Notice ID: LRN-69570C Date: 09 Oct, 2024

EMAIL / WHATSAPP / SMS / RPAD


(WITHOUT PREJUDICE)

To
Z Nagaraju
Borrower
NO 20 1ST FLOOR 2ND CROSSNR GANESHA TEMPLEKOTHANUR DINNEBANGALOREKA

9742079361

SUBJECT: LOAN RECALL NOTICE FOR LOAN ACCOUNT NO. 010003853562

Dear Z Nagaraju,

We write to you on behalf of our client, Navi Finserv Limited (formerly known as Navi Finserv Private Limited)
(our Client) having its office at Vaishnavi Tech Square, Ibbaluru, Bellandur, Bengaluru, Karnataka 560103. Under
instructions from our Client, we state as follows:

1. Our Client states that you, the “Noticee”, availed a loan of Rs. 1,10,000/- through the NAVI Mobile Application
(hereinafter referred to as the "Platform"). The Platform provides loans for various purposes, and is owned and
made by Navi Finserv Limited, i.e. our Client.

2. Upon your acceptance of the Loan agreement dated 01 Oct, 2023, read with the terms and conditions (together
referred to as the “Loan Documents”), a loan account (Account number 010003853562) was established
under your name. In terms of the Loan Documents, the Noticee agreed to repay the loan, including interest and
charges. However, for reasons best known to you, our Client informs us that you, the Noticee has not honoured
its commitments and you have made continuous and concurrent defaults.

3. Based on your conduct and non-payment, it is clear that you have breached your legal and contractual
obligations towards our Client.

4. Therefore, in light of the above, our Client recalls the entire loan. You are obligated to close the entire loan
amount of Rs. 1,20,259/- immediately and in no event later than 10 days from the date of receipt of this notice
(i.e. by 19 Oct, 2024).
Arrow Law Partners, III Floor, 302 B, A Wing, Queens Corner, Queens Road,
Bangalore – 560001
Email: [email protected]

6. Our Client states that failure to pay the aforesaid amount may lead to additional penalties outlined in the Loan
Documents, as well as costs associated with this present legal notice due to the claim amount being wrongfully
withheld or denied. Further, our Client will be forced to initiate civil and / or criminal proceedings, as applicable
at your expense including but not limited to pursuing criminal action under Section 25 of the Payment and
Settlement Systems Act, 2007 / arbitration as per the Loan Documents and other relevant laws.

7. In case of any further clarifications/assistance you may get in touch with Karthik V on 9880631436.

8. Please note that this notice is being issued to you, the Noticee, without prejudice to the other rights of our client
as per laws applicable in India.

Please note that a copy of this notice is retained by my office for further action. Kindly ignore this notice if the
matter has already been resolved or the payment has already been made.

Sincerely,

Adit Shah
Advocate, High Court

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