[Resolved]  Indian Overseas Bank — one time settlement

Thanjavur 05.11.2014 From Dharmarasu S/o.Chinnathambi West Street, Arputhapuram, Kurungulam Post, Thanjavur Taluk and District. Tamilnadu I have borrowed a sum of Rs. 2, 38, 000/- (Rupees Two lakhs thirty Eight thousand only) on 12.02.2012 from Indian Overseas bank, Kurungulam Branch, Thanavur District. My loan account Number is[protected]. Since I have defaulted in payment of instalment, the Indian Overseas bank, Kurungulam Branch, Thanavur filed a suit O.S.No.23/2013 on the file of Principal Sub- Court, Thanjavur and pending before the Principal Sub- Court, Thanjavur. After entering appearance in the said court, I personally contacted the then Branch Manager, Indian Overseas bank, Kurungulam Branch, Thanavur and represented him my inability to pay the loan amount in full and requested him to give concession and requested him to permit me to settle the loan amount by way of one time settlement. The then Manager considered my request and agreed for that and informed that I have to pay a sum of Rs. 5, 51, 000/- as a one time settlement to settle the loan amount and also informed me to wait for 15 days so that he would get approval from the higher authority. Since there was feedback from the branch manager, after that went to Indian Overseas bank, Kurungulam Branch, Thanavur with an intention to enquire about the one time settlement. At that time, I was informed that the then Branch Manager was transferred and a New Manager has taken charge. I once again informed the present branch manager my willingness to settle the loan amount by way of one time settlement. Initially the present manager agreed for that but not did anything to settle the matter. After that, I have informed the court my willingness to compromise the matter by way of one time settlement. So, the principal Subordinate, Thanjavur also referred the matter to Lok Adalat for settlement. But the branch manager of Indian Overseas bank, Kurungulam Branch, Thanavur purposely avoided to appear before the Lok Adalat to settle the matter. I respectfully submit that the Branch Manager of Indian Overseas bank, Kurungulam Branch, Thanavur is not willing to settle the dispute by way of one time settlement. Respected sir, I am a poor farmer, due to natural calamities, I could not able to do my agricultural work profitably. So that only, I am not able to keep my promise and pay the loan amount without any default. As per the earlier agreement entered by me with the then Branch Manager of Indian Overseas bank, Kurungulam Branch, Thanavur, I am ready to settle a sum of Rs.5, 51, 000/- by way of one time settlement. So kindly request you sir to instruct the Branch Manager of Indian Overseas bank, Kurungulam Branch, Thanavur to consider my settlement of loan by way of one time settlement and do needful for me.