Kotak Mahindra Bank — loans and disbursal

Address:

Darjeeling, West Bengal, 734001

Dear sir,

This is dhruv berlia from siliguri, representing lr berlia group, a very reputed group in siliguri into manufacturing and packaging of tea, we have 8 tea estates and 8 bought leaf tea factories, manufacturing 15 million kgs of tea annually.

This complain is with regard to one of our group companies neelkanth tea co. Ltd, we had approached kotak bank for take over of our existing banking facility with hdfc bank for better rate of interest and enhanced cc limit (Working capital).
We had applied and gave all the necessary documents for loan approval to kotak bank officials in siliguri. We met all the top officials of the company and developed good trust in each other.
The kotak officials released the sanction letter, and our loan was passed, then they requested us for an approval letter for disbursement of funds, we in reply said them that please dont make the draft (Pay order) until and unless the existing banker (Hdfc) accepts and gives a noc clearance for effecting the take over, but they still pestered us saying they have monthly targets, which if we delay in availing, the disbursement will get further delayed.

On good faith and healthy spirit we agreed to give them a request letter for disbursement, with a pre condition verbally that only and only once our existing banker will give an noc and accept your pay order, only then take over can happen. So, they agreed and made the draft, which they never gave us or to the bank, but hdfc ban did not co-operate with us in accepting us to shift from their bank to kotak.

So, once hdfc did not accept the take over, the matter was lying flat, and we are still with hdfc at the moment.

Now, kotak officers (Mr. Abir mukherjee and his colleagues) are constantly harassing us via mails saying that we have to pay interest charges and 4 % of the entire sanctioned amount as fore closure and prepayment charges.

Our arguments are:
Firstly, it cannot be said that take over has happened, the pay order which they had claimed to have made, has neither been given to us nor to our existing banker.
So, it cannot be said that disbursement has been done in any way whatsoever.

Regarding the letter, requesting the disbursement of loan which they have mentioned in the mail, we had a precondition
Of the request was acceptance of draft by our present banker. The letter was signed and given in healthy spirit where we mutually agreed that take over will happen only and only if
Existing bank will give a clearance, now when the existing bank has not co-operated and denied any noc whatsoever, the take over could not be effected.

Under these circumstances, kotak bank has en cashed our cheque of rs 166705 and 141275 as processing fee, wherein no facility has been availed.
We have also on good faith given you 2 blank cheques.

We are really being harassed, with no fault of ours and we have not used a single penny from kotak bank.

Please help us out urgently.

Thanks and regards,
Dhruv berlia