State Bank of India — Cheque Payment Delay

Address:

Chennai, Tamil Nadu

Account Number[protected]
Description CA-GEN-PUB-OTH-NONRURAL-INR
Name SHEPHERD INDIA EXIMP PVT.LTD
Corporate Address 1493 J 16 13 TH MAIN ROAD, ANNA NAGAR WEST
CHENNAI,
TAMILNADU - 600040 Drawing Power 0.00
Uncleared balance 2,79,750.00 Limit 0.00
Available Balance 2,274.98 Lien Status No

Sir,

I deposited the cheque of 279,750 in the drop box located inside the branch according to the instruction of the bank at 2:00 PM on Thursday, 8th of April 2010. This money was borrowed by our company from a private financer on heavy interest. We need to buy raw material for export. Same day, I left for Calcutta to finish the deal. However, the funds did not came in the account till Saturday. Therfore, I returned back to chennai as Sunday was holiday and I promised the supplier that on Monday, 12th April 2010 surely payment would be made as local cheque does not take so much time. However, I proved myself a fool and lost my tust among supplier who gives me 75% credit on the total purchase. I lost the deal and this incurred a heavy loss to me and I had been to the bank several times and requested the bank manager to credit the cheque. But, he refused to do so. We have suffered a huge loss as our deal is concelled.

Please help us and ask bank to compensate for the loss. We are small company and cannot afford to loose such orders.

Jim Sanjay