REVIVAL LETTER TO BE OBTAINED FROM BORROWER BEFORE EXPIRY OF LIMITATION PERIOD
To
X Bank
……………..
……………..
……………..
Dear Sir,
We refer to the Agreement dated the……………..day of……………..20………entered into by us with you, in respect of the loan granted to us and the charge by way of Hypothecation created by us on our Current Assets as mentioned therein to secure all sums standing at the foot of the Cash Credit Account(s) or other Account(s) with you in respect of the loan, interest and other costs payable on the said loan in terms of the said agreement.
2. We do hereby confirm that all the Security Documents executed by us in favour of you in respect of such loan are subsisting, valid and effective and are fully enforceable against us.
3. We do hereby acknowledge for the purposes of section 18 of the Indian Limitation Act, 1963 and in order to preclude any question being raised on limitation regarding our liability to you for the payment of the outstanding amounts in respect of the present as well as the future indebtedness and liabilities under the said loan together with interest, costs, charges, expenses and other moneys due and payable in terms of the said Agreement, our liability shall remain in full force with all relative securities, agreements and obligations as mentioned therein.
For and on behalf of
………………….. Ltd.
Managing Director