Q.Draft a letter, on behalf of Konkan Agro Industries Limited, regretting the Company's inability to accept Mr. Abhijit More's fixed deposit application of Rs. 50,000, since accepting it would take the Company's aggregate deposits from members beyond the statutory ceiling, enclosing a full refund.

The letter must state the genuine reason for non-acceptance honestly, apologise for the inconvenience, and enclose the full amount tendered without any deduction. …

KONKAN AGRO INDUSTRIES LIMITED

Registered Office: Plot No. 14, MIDC Industrial Area, Ratnagiri – 415612

CIN: U01100MH2015PLC123456

Date: 25th February

To,

Mr. Abhijit More,

31, Bhatye Road,

Ratnagiri – 415612

Dear Sir,

Sub: Your Fixed Deposit application dated 15th February — regret and refund

We thank you for your application dated 15th February, offering to place a fixed deposit of Rs. 50,000 with our Company, and appreciate the confidence you have shown in us.

We regret to inform you that we are unable to accept your application, since accepting it would take our Company's aggregate outstanding deposits from members beyond the ceiling prescribed under the Companies (Acceptance of Deposits) Rules, 2014. We sincerely apologise for any inconvenience this may cause you.

We enclose our cheque No. 550231, drawn on Bank of Maharashtra, Ratnagiri Main Branch, for the full amount of Rs. 50,000 tendered with your application, without any deduction. Kindly acknowledge receipt of this cheque.

We hope to be able to accept a fresh application from you should our deposit ceiling permit it at a future date, and we thank you once again for your interest in our Company.

Yours faithfully, …

Students sometimes draft a regret letter without enclosing a refund at all, or mention refunding 'shortly' rather than actually enclosing the cheque — the refund must be enclose …