[Resolved]  India Infoline Finance [IIFL] — Waiver of Pre Closure charges

Address:

#25 2ND FLOOR KATHRIGUPPE MAIN ROAD, OPP BIG BAZAAR BSK 3RD STAGE BANGALORE

We from Goodwill Enterprises are having a Business Loan No. SL2436990. We are requesting from the last 2 months for a waiver in Pre Closure Charges so that we can close the Business loan by paying the outstanding Principal and up to date interest.
We have mailed for waiver to Nodal officer and higher ups but they are not agreeing for the same.
We are into retail business which is undergoing turbulent times since March 2020 due to COVID situation.

Our turnovers have drastically dropped down by 60% and in this current situation we will not be able to service the loans which we have taken. With great difficulty we have arranged funds from outside to clear the above said loan. We have cleared loans from Bajaj Finance, Capital Float, Neo Growth, who have waived the foreclosure charges.

We would request you to kindly help us in closing of this loan by waiving off Foreclosure charges and other penalties.

Accordingly, please be advised that we are hereby keen on paying up the arrears on (Customer Loan No: SL2436990), and closing the loan in its entirety. We do not wish to place the loan itself at risk by exposing it further to the diminishing returns we are seeing from our retail business. We are desirous of closing the loan, rather than having the debt declared as an NPA of any kind.
To enable the closing of this loan, we have arranged the funds, with great difficulties and under immense financial strain to ourselves. Notwithstanding any pre-agreed terms for foreclosure penalties, we humbly request that the loan be closed forthwith by the payment of the aforementioned pending sum, without any charge whatsoever towards early closure of the loan.
Kindly exercise the discretion of your good office in the matter and accept the offer to close the loan in the manner as described above and without levying any additional charges, liens or penalties, in any shape or form.
As a responsible citizen, employer, businessman and as a fair customer, I have taken upon tremendous hardship upon myself and have accordingly proposed this foreclosure for the loan as described above. Any burden beyond this, by means of foreclosure charges (howsoever minimal) will be too onerous for me and my business to sustain.
I request you to please apply your good office to the matter, consider the request favourably and accordingly process the closure of the loan, without any foreclosure charges or any other additional charges to my business.