Respected Sir/ Madam,

myself Tapati Goswami running a business of timber and wood, took business
loan from India bull of Rs. 30,000,00/- ( thirty lakhs) as sequered loan, on
dated 07/ 08/2007 during the loan i had talk with the agent of the institute
and he assured me the rate of interest will be not more then 18%,in good
faith and believe him i applied for loan and got the loan with in one month,
repayment started date is 01/11/2007 to and date 01/10/2010 tenure 36 asset
desccription : dummy Asset, during the loan i was not knowing that it is a
NBFC. actually now the problem is they are deducting interest more then 21%,
it was very difficult for me to pay the interest. my installlment amount is
Rs.111,108.00/- month and principal amount is Rs. 61.734.00/- and interest
amount is Rs. 49.374.00/- which is more then 18%. i came to know is that in
karnataka there is one Act Karnataka money landing Act 1961 and karnataka
prohibition of charging Exorbitant interest Act 2004 where it clearly
mention that in case of sequered loan the rate of interest should not exceed
15%, as am in bangalore and took the loan in Bangalore can i take this Act
and file the case against the NBFC or is their any other rule is there that
can help me to get out from this.

This is my humbly request to you please help me to come out of this
problem and guide me how i can go ahead. please do the needfull.

Thanking you.

you sincerely,

Tapati Goswami