NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION
OZA SANDEEP JAYANTILAL – Appellant
Versus
R.S. CO-OPERATIVE BANK LTD. – Respondent
ORDER
"8. Security of hypothecated stock to the Bank will have to be insured against all comprehensive risks at your cost. The Insurance policy will have Banks’ interest noted. The policy is to be kept in force during the continuance of Banks’ loan at your cost. In case you fail to renew the policy, the Bank will renew the same to the debit of your account."
"RSCB/2012-13/CC-56/757 10th July 2012
M/s SIDDHIVINAYAK FURNISHING
Prop: Mr. Oza Sandeep J
Sai Darshan compound, W.E.Highway,
Ganesh Nagar, Nr.Ali Season Hotel,
Borivali (East.), Mumbai-400066.
Dear Sir,
Requirement of Renewal of Cash Credit Limit
You have availed a Cash Credit Limit of Rs.40,00,000/- from our Bank which will expire on 10/08/2012. As per terms of sanction the entire outstanding balance is to be adjusted on or before the expiry of limit or to be brought to credit balance. However, if you desire to renew and continue the limit, you are requested to please submit the following papers/documents of above said limit to enable us to consider the renewal of limit.
Kindly note that your Cash Credit Limit account would be discontinued in
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