Indian Overseas Bank — bank not accepting the proposal for settlement of the npa account in spite of fund is arranged

Address:

Bangalore, Karnataka

Bangalore – 22,
[protected].
From,

Bagya g. S,
W/o. Late n. Prakash,
1205, (244) k. N. Extension,
7th main, 5th cross,
Triveni road,
Yeswanthpur,
Bangalore – 560 022.

To, by regd. Post. Ack. Due

The chairman,
Indian overseas bank,
Anna salai road,
Chennai – 600 002.

Dear sir,

Sub : npa account nidhi printers private limitedm with your bangalore branch.

Kindly refer to my letter of[protected] addressed to crm, iob, bangalore, (Endorsing copy thereof to you) copy of which enclosed herewith. As we could not get any response from iob, ro, bangalore we have yesterday submitted a letter to them requesting the bank to release me, my daughters and our property by accepting total amount of rs. 150.00 lakhs (Rupees one hundred and fifty lakhs only) a copy of which is enclosed herewith for your ready reference.

Our sincere efforts to settle the accounts has not reached anywhere for the simple reason sharing pattern of boi and iob has not yet finalized and the mater again both the banks taken to drt court. As you are aware no buyer will be interested to block his funds for a long time and the present buyer who has blocked his funds with boi for the last two years has given his letter to withdraw the amount. Accordingly the resolution agents kommineni consultants pvt. Limited has brought a new buyer who is interested to settle the account of both the banks separately.

I therefore request your goodself to look into the matter and instruct your officials to to release me, my daughters and our property by accepting total amount of rs. 150.00 lakhs (Rupees one hundred and fifty lakhs only) against the oa amount of rs. 186.43 lakhs (Rupees one hundred and eighty six lakhs and forty three thousand only)

Looking forward to hear from you favorably so that we can remit the amount within a maximum of one week from the date of sanction from the bank.

Thanking you,

Yours faithfully,

G. S. Bagya g. S. Bagya
For and on behalf of the minors
Encls : a/a.