Question

Draft a letter to a depositor regarding repayment of his deposit. 

Answer 1

Sunrise Industries Limited.
60/A, V S. Khandekar Road,
Vile Parle (W), Mumbai - 400056.

 

Tel. No. : 022-61246871                                                 
Fax: 022-246872
Ref. D4/2012                                               

web: http://www.SunTnd.co.in 
21^st April, 2012. 

Mr. Babu Mahale
C/12, Suvarna Apartment,
Raja Bade Chowk,
Mahim, Mumbai - 400016 

Sub: Repayment of Deposit

Dear Sir, 

We have received from you the original deposit receipt no. 83556 duly discharged along with your instruction for repayment.

Details of repayment of deposit are as under:

Type of deposit	Receipt No.	Deposit Amount	Maturity Amount	T.D.S.	Due date/ maturity date
Deposit for 12 months	83556	Rs. 20000/-	Rs. 22000/-	Nil	20th April 2012

Please find enclosed herewith a cheque of Rs. 22000 bearing No. 443211 dated 20^th April, 2012, drawn on Bank of India, Shivaji Park branch, Dadar, Mumbai - 28.

Assuring you the best of our services at all time.

Thanking you.

Encl. - Cheque No - 443211       

Yours faithfully,
Sunrise Industries Ltd

Sd/-
Mr. Ashok Bhattad
Secretary
                                                          ­

NOTE: - Repayment of deposit:
On maturity of tenure, it is binding on the company to repay deposit. Default in repayment of deposit can result in levy of penalty. More over the company shall not be allowed to renew or to accept fresh deposits. Letter for repayment of deposit is sent to the depositor when the deposit is to be refunded. This letter informs the depositor that deposit receipt is received by the company along with the stamped receipt. Cheque for the refund of deposit is enclosed with this letter.

Answer 2

1. On the maturity of the tenure of the deposits, it is binding on the company to repay the amount of the deposit.
2. If the company defaults in the re-payment of the deposits, the penalty will be levied.
3. The letter of repayment of the deposit is to be sent to the depositor when the deposit is to be redeemed.
4. The letter informs the depositor that the fixed deposit receipt is received by the company.
5. This letter includes information about the Repayment of Deposit such as - tenure of deposit, Fixed Deposit Receipt No., deposit amount, rate of interest, maturity amount, TDS, net amount, the due date of payment of deposits, etc.

HULK MOTORS LTD.

Registered office: Plot No. 05, Commercial Towers, P.K. Road,
Mumbai - 400067

CIN: R20020 MH 1000 PLC123456

Website: www.hulkmotors.in
Email: [email protected]
Date: 17th Oct, 2020

Phone: 022 12345678
Fax: 022 - 11112222
Ref. No.: C/2060/20-18
Mr. John Methiw
508, Lokesh Apartments,
AK.D. Road,
Mumbai – 4000089

Sub: Repayment of Fixed Deposit

Dear Sir,

        This is to inform you that your Fixed Deposit Receipt A-432 dated 27th Oct, 2018 for ₹ 50,000/- will be due for repayment on 28th Oct, 2020.

        We have received from you the original Deposit Receipt No. 567 duly discharged along with your instruction for repayment. The Board of Directors in the meeting held on 12th Oct, 2020 has passed a resolution for the redemption of the deposits.

       The details of repayment of deposit are as under:

1	2	3		4	5	6	7	8
Tenure of Deposit	Fixed Deposit Receipt No.	Deposit Amount (₹)		Rate of interest (%)	Maturity Amt (₹)	TDS (10%)	Net Amt (₹)	Due Date of Deposit
2 years	123	50,000		₹ 10,000	60,000	₹ 1,000	59,000	28th Oct, 2020

Please find enclosed herewith a crossed cheque of ₹ 59000, bearing No. 123456 dated 28th Oct, 2020 drawn on ICICI Bank, Worli Branch, Mumbai – 400 008.
      Thanking You,

Yours Faithfully,    
For Hulk Motors Ltd.

 Sign           
Mr. Kamlesh Gaikwad
Company Secretary

Encl: Crossed Cheque No. 456789