Notice on behalf of a Banking Company

Registered A/D.
To,
…………………………
…………………………
…………………………

Dear Sir,

On behalf our clients…………………….. Bank, a Bank constituted and functioning under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at…………………. and amongst other branches, a Branch Office at……………….. we have to address you as under :

1. That our clients sanctioned and granted to you a term loan of Rs……………. and you agreed to repaid the said loan in monthly instalment of Rs…………. and the 1st instalment to commence from …………. Against the said term loan you had deposited you have deposited the title deeds of your property with my client as a security. 

2. That as agreed by you and to repayment the term loan you have issued first instalment cheque  being No…………. dated………. for Rs…………… drawn on ……………… Bank …………Brach.

3. That our clients has presented the said cheque for encashment but, the same was returned by your Bankers unpaid with remarks “Insufficient Funds” vide your Bankers Memo. dated……………..

4. That our clients have instructed us to send the present notice to you that you are required to pay the amount covered under the said dishonoured cheque within 15 days from the date of receipt of this notice issued under section 138 of the Negotiable Instruments Act, 1881, failing which, you will be deemed to have committed an offence under section 138 of the said Act.

5. Under the circumstances you are hereby call upon by our clients, which we hereby do, to pay Rs……………..within 15 days from the receipt hereof, failing which, our clients shall file a criminal case under Section 200 of the Code of Criminal Procedure read with sections 138 to 142 of the Negotiable Instruments Act, 1881, which please note. In case any legal action as aforesaid is thrust on our clients then you shall be further liable for all the legal costs and consequences resulting therefrom.

Yours truly,

ADVOCATES