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  • Topic: Debt, Loan, Secured loan
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Date 15.01.2011
To,

1. Sh.Ramandeep singh Anand, Director,
S/o Harminder Singh
A-50, Sector 31 Noida ( UP)

2. Sh. Kamaldeep Singh Anand, Director,
S/o Harminder Singh
A-50, Sector 31 Noida ( UP)
3. Smt. Gurleen Kaur Anand, Director,
W/O Sh. Kamaldeep Singh Anand,
S/o Harminder Singh
A-50, Sector 31 Noida ( UP)

4. Smt. Avneet Kaur Anand
W/O Sh. Ramandeep Singh Anand
A-50, Sector 31 Noida ( UP)

Dear Madam/Sir,

Reg : Accounts No. 0615008700019429 (Cash Credit –Hyp), 061500IB00564035 (Term Loan-I) and 020600IB00011924 (Term Loan II); Credit facilities availed by M/s Harmind Packaging Pvt. Ltd.

You, M/s Harmind Packaging Pvt. Ltd. have availed the following credit facilities from Punjab National Bank

|Sr. NO |Facility |Limit |Balance outstanding as on 31-12-2010+ intt. And| | | | |other charges w.e.f. 01.12.2010 | |1 |Cash Credit (Hypth) |Rs.1.85 crore |Rs. 2,03,23,163.71 | |2 |Term Loan (Mach) |Rs.45.00 lacs |Rs. 15,17,716.00 | |3 |Term Loan (Mach) |Rs.41.50 lacs |Rs. 28,67,826.00 | | |Total | |Rs.2,47,08,705.71 |

Due to non payment of installments/ interest/ principal debt, the accounts have been CLASSIFIED AS NON PERFORMING ASSETS AS PER RESERVE BANK OF INDIA guidelines. We have demanded/recalled the entire outstanding together with interest and other charges due under the above facilities, vide letter dated01-12-2010. The amount due to the Bank as on 31-12-2010 is Rs.2,47,08,705.71 (Rupees Two crore forty seven lacs eight thousands seven hundred five and paisa seventy one only) with further interest and other charges until payment in full (hereinafter referred to as “secured debt”).

To secure the outstanding under the above said facilities, you have, inter alia, created security interest in respect of the following properties/assets:

|Sr. No |Facility |Security | |1 |CC & TL |Factory Land and Building measuring 62 Marla covered under Sale Deed; Vasika No. 1934 Dt. | | | |19.12.2006 situated at Village Babehar, near Dalutpur Chowk, Tehsil- Amb, District- Una, Himachal| | | |Pradesh in the name of the Borrower Company i.e. Harmind Packaging Pvt. Ltd. | |2 |CC & TL |Plot of land measuring 8 kanal 2 Marla covered under Sale Deed; Vasika No. 2745 Dt. 26.03.2007 | | | |situated at Village Kular, Tehsil Dasuya, Dist. Hoshiarpur in the name of Sh. Ramandeep Singh | | | |Anand S/o Sh. Harminder Singh Anand | |3 |CC |Stock of Raw Material and Stock in Process and Finished goods at Factory of the Borrower Company | | | |at Village Babehara above said. | |4 |Term Loan & cash Credit |Machinery Installed at Factory of the Borrower Company at Village Babehara above said. |

We hereby call upon you to pay the amount of Rs.2,47,08,705.71 (Rupees Two crore forty seven lacs...
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