[Resolved]  IndiaBulls — Reply to the Notice Received under SARFAESI Act, 2002 for the Home Loan A/c: HHLSUR00327241

Aug 18, 2021

Updated by RAJUDEVI SURANA I AM MRS.RAJUDEVI BAJRANGMAL SURANA, AGE 61. I AM THE OWNER OF THE PROPERTY A-1102 SURYA GREEN VIEW VESU SURAT, HAVING HOUSING LOAN AT INDIABULLS HOUSING FINANCE HOME LOAN : HHLSUR00327241 ALONG WITH TOP UP LOAN. I AM A WIDOW OF LATE MR.BAJRANGMAL SURANA WHO WAS EXPIRED ON[protected].THE HOUSING LOAN STANDS NPA AT PRESENT IN INDIABULLS.
We would like to thank you for your kind support in the Covid-19 Pandemic period. We under signed have availed the following credit facilities from you.

Sr.No Loan Account No Type of Loan Date of Sanction Sanction amount Amount paid in A/cs O/s as on Total Interest paid
1 HHLSUR00327241 Home Loan 30.03.2017 91, 44, 345/- 42, 22, 292/- 8825000/- 40, 03, 186/-
2 HHESUR00328093 Top Up Loan 30.03.2017 30, 28, 115/- 14, 64, 590/- 3028115/- 14, 63, 431/-

We hereby acknowledge the receipt of Sarfaesi Notice on 15.07.2021 by BlueDart Courier from your side as aforesaid loan account stand NPA since 30-03.2021 and in this matter we request you to drop the surfarsi proceeding in light of following proposal.

We had paid EMI regularly till 28.02.2020 after that there has been problem in paying the EMI regularly since there has been many problem related to personal life and the financial stability.

In March 2020 we have suddenly lost our care taker as well as business handler, head of family (copy of death certificate attached ) and after that there was Covid-19 Pandemic which has been very harmful for our business and personal life too. Further gradually we tried to recover from the bad effects on business of the 1st lockdown it was followed by another lockdown which resulted increase substantially in financial losses and liquidity crunch thereafter. These all the reasons behind irregularity in both accounts and accounts slipped in NPA.

We would also like to bring to your notice that we had taken loan from Indiabulls @ 8.2% (Home Loan) and @ 10% (Top Up Loan) which was raised gradually to 11.10% (Home Loan) and 13.10% (Top Up Loan) within a year which is very high compared to the current market rates and in the way we have paid extra interest approx. 28, 00, 000. My current Principle o/s is Rs. 118.25 Lakhs approx While we have paid Rs.56, 86, 882 . against sanction amount of Rs. 1, 21, 72, 460.

As both the account stand as NPA at current date and in this matter We would like to request you to give us some time as well as a proper resolution for the above accounts as to avoid any legal formalities.

From our side We would like to bring to your notice that the residential property is about 3000.00 sq feet and the present jantri rate is approx. Rs. 54.00 Lakhs and the Market Value is Rs. 105.00 Lakhs & Stress value is around 95 Lacs . Further we are trying to sell the property so that we can clear all our dues. But in current scenario We have a highest buyer of Rs. 95.00 Lakhs approx which is the best rate which can be fetched at the current market rates. So We would like to request you to give us ONE TIME SETTLEMENT OFFER at this value so that we can settle our accounts within 3 month’s time frame after your approval along with tri-parties agreement with buyer, so all amount will be deposited directly. We think it is best offer so please allow the same as early as possible. Otherwise give your verdict where we can go for OTS.

If for whatever reason OTS is not worked then Pl give us a restructuring plan as per guideline of RBI by capitalizing the O/S in account and giving me 2 years emi holiday so that we can improve our financial condition meanwhile and repay the dues in future.

So kindly acknowledge the same and take on record and please do the needful in best possible manner as to avoid any legal formalities and expenses as we are willing to clear all accounts as requested above.

However even though as I have requested as above the collection team of INDIABULLS HOUSING FINANCE LTD., SURAT, is still not giving us resolution plan and warning me to paste notice of CAUTION so that we don’t sell this property, for this i would like to say that the said property is mortgaged to INDIABULLS and i have clearly stated by your permission through tri party agreement we would proceed for the sale and also INDIABULLS HOUSING FINANCE in a letter dated 11th august 2021 have withdrawn the Notice Received under SARFAESI Act, 2002 for the Home Loan A/c: HHLSUR00327241. Even then collection team is warning to paste notice on said property on[protected]. As i have request above the options of sale and even restructuring if the prior one is not feasible as per RBI guidelines.

Sir, i request you to please stop any such legal proceeding without giving me proper reply to my request as i am not capable of facing any legal proceedings, as without your permission i wont be able to do anything and i am will to pay to the company.

With due regards

Yours truly
RAJUDEVI SURANA
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