Settlement Agreement Letter

By | August 6, 2010

July 28, 2010

The Accounts Manager

Muthoot Finance


Dear Mr. Panicker,

I have received your letter reminding me to pay off my debts to you.  I am willing to pay it off in full, instead of in installments as agreed upon earlier.

I had been under some financial stress for the last few months and that was the reason I was unable to pay the installments.  I regret the inconvenience it has caused you and wish to rectify the same.  The amount I received from you was Rs. 10,000/-, out of which I had paid off Rs. 5000/- in five installments last year.  Hence I am enclosing a cheque for Rs. 7500/-, which includes the interest and settles the debt.

You had lent money to me at the appropriate time and I am grateful to you for that.  I wish to continue to be on good terms with you in future.

Thank you once again for bearing with me.

Yours Sincerely,

Sam David