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Letter on “verifying the status of a party who has applied for a bank loan with a reply”.

Letter on “verifying the status of a party who has applied for a bank loan with a reply”.

FIRST CITY BANK

City Bank House K.G. Marg, New Delhi-110001

Sirohi

Manager

(Loan Sanctioning Department)

25th July 2007

 

To

Mr. Madhok

Global Trading House

Tughlakabad, New Delhi-110021

 

Dear Sir,

M/s Bhaseen & Co. have applied for a loan of Rs. 10,00,000 (One million) for the expansion of their business and have given us your company’s name as a reference.

We shall feel highly obliged, if you are kind enough to inform us about the reliability and business prospects of the concerned party.

Any information, that we receive from you, would be treated as absolutely secret and highly confidential.

Enclosed, herewith, please find a stamped and self-addressed envolope for your convenience.

Thanking you,

 

 Sincerely yours,

Sd/-

Sirohi

 

Reply to the Bank’s inquiry (Favourable)

 

GLOBAL TRADING HOUSE

Tughlakabad, New Delhi-110021

10th August 2007

To

Mr. M. Sirohi

Manager (Loan Sanction Dept.)

first City Bank House K.G. Marg, New Delhi-110001

Dear Sir,

In response to your enquiry about M/s & Bhaseen & Co, it is to be stated that we have strict confidence in the sound position and creditworthiness of the concerned party. There is no reason to refuse them the loan amount they have applied for. I have known both the partners from their college days and the transaction, you have mentioned about, concerns with their ambitious plan of expanding their business, including the purchase of new premises.

We are of the firm opinion that expansion of their business is the need of the hour and on the strength of a loan from your side, the company is sure to double the trade, once the new plant is installed and gets operational.

Thanking you,

Sincerely yours,

Sd/- R. Madhok

for Global Trading House

 

Reply to the Banks inquiry (unfavourable)

 

GLOBAL TRADING HOUSE

Tughlakabad, New Delhi-110021

10th August 2007

Sirohi

Manager

(Pvt. & Confidential)

(Loan Sanctioning Department)

First City Bank, City Bank House

K.G. Marg, New Delhi-110001

Ref. : You letter of 25th July, 2007, seeking information on the reliability and business prospects of M/s Bhaseen & Co 

Dear Sir,

In response to your above-mentioned correspondence, we request our inability to give you any specific information on the credit worthiness of M/s. Bhaseen and Co.

It is true that once upon a time, we used to do business with them, but it was many many years back. Moreover, the amount involved used to be quite insignificant. We are absolutely unaware of their present standing.

It is requested that the information may please be treated as strictly confidential.

Yours faithfully,

Sd/- R. Madhok

for Global Treading House

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