Bank of Maharashtra

(H.O. “Lokmangal”, 1501, Shivajinagar, Pune-411 005)

PIMPRI BRANCH
Janamangal, Mumbai Pune Road, Morwadi, Pimpri, Pune-411 018.
Tel. 27475769, 27472373, 27475386
Email-bom80@mahabank.co.in
AZ1/NPA/Legal Notice/2018-19 Date: 23/04/2018

BY REGISTERED POST A.D.

To

[1] Mr. Umesh Ananda Thorve

Prop. Siddhivinayak Autoline
Markal Road, Near Pandurang Sadan, Opp. Tanishq Vlasta
Alandi,Tal. Khed, Dist. Pune.

[2] Mr. Umesh Ananda Thorve

Prop. Siddhivinayak Autoline
At. Post. Charholi Khurd, Near Nanashree Garden,
Markal Road, Charholi Khurd
Alandi,Tal. Khed, Dist. Pune.

Sub – Recall of cash credit facility

M/s Siddhivinayak Autoline.
Dear Sir,
That you Mr. Umesh Ananda Thorve r/o At. Post. Charholi Khurd, Near
Nanashree Garden, Markal Road, Charholi Khurd, Tal. Khed, Dist. Pune here
by informed by this notice that,

1. At your request, Bank of Maharashtra Pimpri Branch has sanctioned CASH

CREDIT LIMIT of Rs. 60,00,000/- (Rupees Sixty lacs Only ) to your firm
M/s Siddhivinayak Autoline on 18/06/2013 for which you have executed
necessary documents in favour of the Bank.

2. You have failed in making payment of the interest as stipulated in the terms
and conditions of sanction of credit facility and account slipped into NPA.

3. You have not submitted financials as of March, 2017 for renewal of facilities
even after several requests from branch.

4. You have also not informed the bank regarding change in location of your
showroom from Wagholi to Alandi, which bank came to know only on visit to
Wagholi Showroom.

6. Even after several requests and visits, you failed to repay the same, so
your cash credit account has became stagnant and the outstanding balance
as on date of notice is Rs. 59,97,896.15 plus Unapplied interest from
29/11/2017 amounting to Rs. 6,12,738/- and therefore classified as Non –
performing Asset (NPA) on 29/11/2017,as per the guidelines issued by the
Reserve Bank of India in that regard.
8. You are hereby directed to pay the amount of Rs.66,10,634.15 within 10
days from the receipt of this notice. If you fail to do so, bank will initiate legal
action against you and the firm for the recovery of the loan amount, and in
that event you will be held responsible for the cost and consequences of the
same.

Take this notice and comply

Yours faithfully,

Asstt. General Manager.

Pimpri Branch

Copy to Shri. Santram Ananta Botre, At. Po. Kalus, Tal. Khed, Dist. Pune.