Reminder Letter to Bank

Sample Template Example of Follow up Letter to Bank Branch Manager / AGM for transfer of Fund Based Limit to Reduce Interest Burden in Word / .doc Format in India

RSL / SBI / 2014-15 / 012

25.08.2014

AGM

State Bank of India

CASA Branch

Nariman Point

Mumbai – 420 120

    SUB: Our request for conversion of our existing Fund Based Limit to

               FCNR (B) LOAN.

We draw your kind attention to our application dt . 27.07.2014 wherein we requested you for conversion of our Fund Based Limit with you to FCNR (B) LOAN so that we may reduce our interest burden which is much warranted during these hard market scenario.

We have already furnished required informations including Audited Balance Sheet for the year ended 31^st March 2014 to you for consideration of our proposal.

Furthermore, we would like to inform you as per your query

1)      that we have already engaged M/S CRISIL to rate our Company`s  Fund Based / Non Fund Based facilities sanctioned by  Banks which is in final stage and we are awaiting for the rating form M/S CRISIL within next 7/10days.

2)     That we have reduced our ICD to the tune of Rs 15012.00 lacs during the financial year 2013-2014. We have already initiated suitable steps for infusion of fresh capital /conversion of ICD into equity at least for Rs 125 Crore and we expect it will be completed immediately after completion of our AGM which will be held in Sept 2014.

We trust above informations will serve your purpose. Should you require any further informations in connection with FCNR (B) LOAN, to be sanctioned to us please inform us .  

For ROCKET SALES LTD                                                                                                 

AUTHORISED SIGNATORY

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