Notice
Notice
Notice
SUB: LEGAL DEMAND NOTICE SEEKING RECOVERY OF UNPAID OUTSTANDING DUES OF Rs. 3904.00/-
WITH RESPECT TO Consumer Loan LOAN/CREDIT FACILITY ACCOUNT NO. DMI0039477355
Under the instructions from and on behalf of our client M/s DMI Finance Pvt. Ltd. having its registered office at 9-10, 3rd Floor,
Express Building, Bhadurshah Zafar Marg, New Delhi – 110002, we hereby issue to you the present Notice which reads as
hereunder:
1. That our client is in business of finance and is inter alia engaged in the business of grant of various loans facilities/finance
facilities to its clients and you, the above named Noticee had approached our client for obtaining a Consumer Loan
(Hereinafter referred to as “Loan/credit facility”). At that time, you had represented and assured our client that you would
timely and punctually repay the same as per the terms and conditions of the loan/credit facility agreement, documents and you
had further assured and represented to our Client that you had the financial capacity for the grant and repayment of the said
Loan/credit facility.
2. That in order to support your application, you had also submitted various financial and other documents to reflect your credit
worthiness. Relying upon your representations regarding your financial capacity to repay and upon you undertaking to adhere
to the financial discipline, our client had approved, granted and disbursed to you a Loan/credit facility of Rs. 3909.00/- (vide
Loan/credit facility account No. DMI0039477355) and the same was repayable in 11 EMIs of Rs. 3909.00/- each. At that time
also, you undertook to adhere to the repayment schedule and pay your EMIs in a timely manner and had also agreed to abide
by and observe all the terms and conditions of the Loan/credit facility Agreement executed with our client.
3. Timely payment of the monthly EMI’s is the essence of the loan/credit facility agreement but despite of repeated request,
reminders and follow-ups you have not been regular in honoring your contractual commitment with regards to the payment of
the EMI’s as and when they became due and payable. The monthly installments have not been regularly paid by you and that
constitutes an event of default as per the loan/credit facility documents and by not adhering to the terms of the repayment, you
have rendered yourself liable to pay overdue interest and other charges, as well. That however in utter contravention to the
terms & conditions of the Loan/credit facility Agreement executed in favor of our client and in total disregard to various
undertakings and representations made by you to our client, you, the Noticee miserably failed to maintain the financial
discipline and failed to clear your EMIs in a timely manner in accordance with the Payment Schedule. Therefore, as on
06/05/2024 a sum of Rs.3904.00/- is standing as total overdue in your above stated Loan/credit facility account, which you
have not paid despite repeated requests and reminders from our client.
4. Our client states that the above stated Loan/credit facility was granted to you upon your requests, undertakings and
representations made to our client and upon submission of various financial documents purportedly showing your credit
worthiness. However, from your conduct, it is amply clear that you falsely represented to our client in order to obtain the
subject Loan/credit facility. From the record, it is also clearly reflected that you deliberately made false assurances and
misrepresentations to our client without having any real intention of fulfilling your legal obligations towards repayment of
loan/credit facility availed from our client. It is thus evident from your conduct, that you have fraudulently induced our Client
to issue Consumer Loan Loan/credit facility and you never had the intention of clearing Loan/credit facility amount availed
and utilized by you. thereby causing wrongful loss to our client and wrongful gain to you, the Noticee.
Onward Coworkx, UG, E 44/3, Pocket D, Okhla Phase II, Okhla Industrial Area, New Delhi-110020.
UDIT SHARMA AND ASSOCIATES
ADVOCATES AND LEGAL CONSULTANTS
advuditsharma.11@gmail.com
5. It is therefore needless to mention that the illegitimate acts and omissions mentioned herein above require legal scrutiny and
therefore our client intends to initiate criminal and civil proceedings against you, the Noticee for your abovementioned deeds.
Please take note that such action if initiated shall be completely at your risk and consequences.
Therefore, in view of the facts and circumstances, We, on behalf of our abovementioned client, hereby call upon you, the Noticee
to pay the total overdue EMI amount inclusive of penal & other charges amount totaling to Rs. 3947.00/- within 2 days from the
date of the receipt of this notice. Do take note that your failure to do so shall lead to initiation of following among other remedies;
➢ Initiation of police complaint under the Indian Penal Code and other Penal Provisions for at the concerned Police Station for
the offences of cheatings, criminal breach of trust etc. against you, Noticee as well against the Co-Borrowers and Guarantors.
➢ Initiation of legal recovery proceedings including Arbitration Proceedings/Recovery Proceedings before the Competent Court,
Tribunal and seek attachment of your assets, for the recovery of the dues of our client.
➢ Section 138 NIA and Section 25 of PASSA which deals with dishonor of Cheque and ECS, respectively, provide for
punishment for Imprisonment up to 2 years, and/or fine up to twice the amount of the Cheque/ECS amount or both.
➢ Seek attachment of all your assets including shares, bank accounts, Vehicles, salaries, pension under Section 9, Arbitration &
Conciliation Act, 1996 or during Execution of Arbitral Award.
➢ Intimate the ministry of external affairs of your purposeful default and seek revocation of your Passport and/or travel
documents and also approach the passport office / court for seeking to restrain you from leaving the jurisdiction of the
Country,
➢ Initiate process for declaration of purposeful/willful defaulter and share information about your debt with CIBIL.
Kindly ignore this communication in case you have already paid the above said amount due on your Account.
For further assistance please get in touch with our client through its officer Mr./Ms. Dhawal Tahalani at +91- 8981665502 between 10 AM to 6
PM between any working day.
NOTE: A copy of this notice is retained in our office for future necessary action.
Sincerely
Udit Sharma
Advocate
Onward Coworkx, UG, E 44/3, Pocket D, Okhla Phase II, Okhla Industrial Area, New Delhi-110020.