Reserve Bank Of India [RBI] — siemens finance demanding rs. 8, 08, 150 additional amount apart from emi of r. s 3, 96, 000 on september 2020

Address:

Hosur

A msme in distress.

We are a plastic injection moulding company based at hosur, tamilnadu.

We have taken a loan of rs. 16, 615, 000/- @13.75% per annum interest rate - payable in 60 emi's (Attached loan sanction & repayment schedule). We have paid as scheduled till february 2020 without any default.

I kindly request for an appointment to meet you to confirm if we should pay the below (Trailing email) mentioned amount of rs. 8, 08, 150 (Interest amount to be paid for the moratorium) additional amount apart from emi of rs. 3, 96, 000 - as demanded by siemens finance in september 2020. This demand of siemens finance is against the rbi notification - injustice / exploitation.

Due to the pandemic we are not in a position to pay rs. 8, 08, 150 since it is a very huge burden. We requested siemens to add our dues accumulated - covid deferment / moratorium & add up additional / increase emi's as suggested / permitted by rbi. Our request has been rejected by siemens finance.

We will start repaying our emi's (Along with the deferred amount) regularly from september 2020.

We request severe action against siemens finance - for not abiding the rbi regulations.

File a complaint with the ombudsman against an eligible regulated entity - online is not working / malfunction.
Jaihind

A. K. Hussain
Director - business development
Guru poly products
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