ICICI BANK LIMITEDS (ALL-INDIA) STANDARD TERMS AND CONDITIONS FOR FACILITIES

AGAINST GOLD ORNAMENTS

[Registered with the Sub-Registrar- VII, New Delhi, vide registered Document No. 292 in oo! No. ",
Volume No. #, $%# at &ages '( to )2 on *arch 2', 2((%+
DEFINITIONS AND CONSTRUCTION
#. ,. In these terms and conditions -the .Standard /erms0, as re1erred to in the ,&&lication 2orm3,
unless there is an4thing re&ugnant to the sub5ect or conte6t thereo1, the e6&ressions listed below, i1
a&&licable, shall have the 1ollowing meanings7
Application For means, as the conte6t ma4 &ermit or re8uire, the &articular .2acilit4 against 9old
:rnaments ;redit 2acilit4 ,&&lication 2orm0 submitted b4 the orrower to I;I;I an! <imited -.I;I;I
an!03 1or a&&l4ing 1or and availing o1 the relevant 2acilit4, all its anne6ures and addenda and all other
in1ormation, &articulars, clari1ications and declarations, i1 an4, 1urnished b4 the orrower or an4 other
&ersons 1rom time to time in connection with the 2acilit4.
A!!"t(!)# shall mean gold ornaments o11ered or caused to be o11ered as securit4 b4 wa4 o1 &ledge =
secured in 1avour o1 I;I;I an!.
Borro$"r0 shall mean the ,&&licant who has = have been sanctioned = granted = disbursed the 2acilit4
b4 I;I;I an! &ursuant to the relevant ,&&lication 2orm> the e6&ression .orrower0 shall, unless it be
re&ugnant to the sub5ect or conte6t thereo1, include his = her heirs, legal re&resentatives, e6ecutors,
administrators and &ermitted assigns.
Borro$"r! D%"!0 means and includes the outstanding &rinci&al amount o1 the 2acilit4, all interest, all
1ees, costs, charges, e6&enses, stam& dut4 and all other monies whatsoever &a4able b4 the orrower to
I;I;I an! in accordance with the <oan /erms, as well as all other monies whatsoever sti&ulated in or
&a4able b4 the orrower under the <oan /erms.
B%!in"!! Da&0 means a da4 on which the relevant=local o11ice o1 I;I;I an! s&eci1ied in the
,&&lication 2orm, or such other o11ice as ma4 be noti1ied b4 I;I;I an! to the orrower, is o&en 1or
normal business transactions.
'D%" Dat"(!)# means the date-s3 as s&eci1ied in the ,&&lication 2orm and=or the <oan /erms or as
s&eci1ied in an4 demand notice issued b4 I;I;I an! at an4 time, on which an4 amounts in res&ect o1
the orrower?s Dues 1all due.
'Loan T"r!# means and re1ers collectivel4 to -a3 all the terms and conditions set out in the
,&&lication 2orm, -b3 these Standard /erms, and -c3 all terms and conditions s&eci1ied in the other
/ransaction Documents.
.RI0 means Reserve an! o1 India.
'Tran!action Doc%"nt!# include all writings and other documents e6ecuted or entered into, or to
be e6ecuted or entered into, b4 the orrower or, as the case ma4 be, an4 other &erson, in relation, or
&ertaining, to the 2acilit4 and each such /ransaction Document as amended 1rom time to time.
1. B. In these Standard /erms, unless the contrar4 intention a&&ears7
-a3 a re1erence to 7
an (a"n)"nt( includes a su&&lement, modi1ication, novation, re&lacement or re-enactment and
@amended@ is to be construed accordingl4>
an (a%t*ori!ation( or appro+al# includes an authorisation, consent, clearance, a&&roval, &ermission,
resolution, licence, e6em&tion, 1iling and registration>
'"nc%,ranc"0 includes a mortgage, charge, lien, &ledge, h4&othecation, securit4 interest or an4 lien
o1 an4 descri&tion whatsoever.
'la$# includes an4 constitution, statute, law, rule, regulation, ordinance, 5udgement, order, decree,
authorisation, or an4 &ublished, directive, guideline, re8uirement or governmental restriction having the
1orce o1 law, or an4 determination b4, or inter&retation o1 an4 o1 the 1oregoing b4, an4 5udicial authorit4,
whether in e11ect as o1 the date o1 signing=submission o1 the ,&&lication 2orm or therea1ter and each as
amended 1rom time to time.
-b3 the singular includes the &lural -and vice versa3>
-c3 the headings in these Standard /erms are inserted 1or convenience o1 re1erence onl4 and are to be
ignored in construing and inter&reting the <oan /erms>
-d3 re1erence to the words .include0 or .including0 shall be construed without limitation>
-e3 re1erence to a gender shall include re1erences to the 1emale, male and neuter genders>
(f3 all a&&rovals, &ermissions, consents or acce&tance re8uired 1rom I;I;I an! 1or an4 matter shall
re8uire the &rior, written a&&roval, &ermission, consent or acce&tance o1 I;I;I an!>
1
-g3 in the event o1 an4 disagreement or dis&ute between I;I;I an! and the orrower regarding the
materialit4 o1 an4 matter including o1 an4 event, occurrence, circumstance, change, 1act, in1ormation,
document, authorisation, &roceeding, act, omission, claims, breach, de1ault or otherwise, the o&inion o1
I;I;I an! as to the materialit4 o1 an4 o1 the 1oregoing shall be 1inal and binding on the orrower.
Not": ,ll ca&italised terms used but not s&eci1icall4 de1ined herein shall have the res&ective meanings
ascribed to them under the ,&&lication 2orm.
2. /he orrower shall be deemed to have unconditionall4 agreed to and acce&ted the <oan /erms and
made re&resentations b4 signing the ,&&lication 2orm. /hese Standard /erms and ;onditions will be in
addition to and not in derogation o1 the terms and conditions s&eci1ied in the ,&&lication 2orm and the
other /ransaction Documents.
FACILIT- AND DRA.ALS/ DISBURSEMENT
1(a3. /he 2acilit4 shall, as &er the re8uest o1 the orrower, be disbursed b4 I;I;I an!= &ermitted to be
drawn to=b4 the orrower or such other &erson=s as ma4 be designated b4 the orrower. Arovided
however disbursement i1 an4 made b4 I;I;I an! to the a1oresaid designated &erson=s shall not a11ect
the obligations o1 the orrower in relation to the 2acilit4. /he drawals= disbursements under the 2acilit4
shall be made in a single tranche.
#-b3 I;I;I an! ma4 at its sole discretion, at the re8uest o1 the orrower, ma!e=allow disbursements=
drawals under the 2acilit4 b4 an4 o1 the 1ollowing modes- demand dra1t=&a4 orders=cash=account
trans1er.
#-c3 /he orrower con1irms that it shall not use the 2acilit4 -or an4 &art thereo13 1or an4 &ur&ose other
than the Aur&ose s&eci1ied in the ,&&lication 2orm, or 1or an4 s&eculative, im&ro&er or illegal or
unlaw1ul &ur&oses=activities.
#-d3 In the event an4 monies are remaining due and &a4able b4 the orrower to I;I;I an!, whether
under the <oan terms or otherwise, I;I;I an! ma4, at its sole discretion, reduce the availabilit4 o1 the
Drawing Aower and=or ad5ust such monies against the res&ective available Drawing Aower and all such
ad5ustments shall be treated as drawals b4 the orrower.
#-e3 /he orrower shall be entitled to avail o1=see! drawals under the 2acilit4 &rovided the orrower
com&lies with the <oan /erms during the subsistence o1 the 2acilit4 and there being no subsisting Bvent
o1 De1ault.
2. /he borrowing o1 the 2acilit4 b4 the orrower is a commercial transaction and the orrower waives
an4 de1ence under usur4 or other laws relating to the charging o1 the interest. :nce the ,&&lication
2orm has been submitted b4 the orrower and is acce&ted = ac!nowledged b4 I;I;I an!, the orrower
shall not be entitled to cancel the 2acilit4 or re1use to acce&t disbursement o1 the 2acilit4, e6ce&t with the
authoriCation o1 I;I;I an! and &a4ment to I;I;I an! o1 such cancellation or 1oreclosure charges as
ma4 be sti&ulated b4 I;I;I an!.
$. /he orrower shall &a4 interest on the 2acilit4 at the rate and on the Due Date-s3 s&eci1ied in the
,&&lication 2orm. /he rate o1 interest &a4able b4 the orrower shall be sub5ect to changes based on
guidelines = directives issued b4 RI to ban!s 1rom time to time. I;I;I an! is obliged to give e11ect to
an4 revision o1 interest rates, whether u&wards or downwards, on all e6isting advances=1inancial
assistances as &er the RI guidelines=directives. I;I;I an! shall endeavour to intimate an4 such
changes in the rate o1 interest and the same shall be binding u&on the orrower and the orrower shall
not be entitled to dis&ute or 8uestion the same on an4 ground whatsoever.

0A-MENT1 0RE0A-MENT AND OT2ER C2ARGES
4. I;I;I an! shall, at its sole discretion, be entitled to var4 the Drawing Aower o1 the orrower i1 the
value o1 the assets &laced b4 the orrower increases be4ond the &ercentage o1 the margin mentioned in
the ,&&lication 2orm or i1 the value o1 the ,ssets &laced b4 the orrower decreases below the
&ercentage o1 the margin mentioned in the ,&&lication 2orm. /he orrower shall !ee&
himsel1=themselves in1ormed o1 the Drawing Aower and I;I;I an!?s margin re8uirements as varied
1rom time to time.
'. /he orrower shall re&a4 = &a4 monies in res&ect o1 the 2acilit4 through such method as ma4 be
a&&roved b4 I;I;I an! or as ma4 be re8uired b4 I;I;I an!. I;I;I an! ma4, in its sole discretion,
re8uire the orrower to ado&t or switch to an4 alternate o1 mode o1 &a4ment and the orrower shall
com&l4 with such re8uest, without demur or dela4.
). /he orrower shall, unless otherwise agreed to b4 I;I;I an!, re&a4 = &a4 the 2acilit4 and all other
orrower?s Dues in accordance with the terms s&eci1ied in the <oan /erms.
2
D.-i3 /he orrower shall &a4 to I;I;I an! interest and all other charges on the amounts outstanding
1rom time to time under the 2acilit4, at the rate-s3, on the date-s3 and in the manner s&eci1ied in the
,&&lication 2orm or at such other rate-s3 as ma4 be decided b4 I;I;I an! 1rom time to time, at its sole
discretion. /he orrower ac!nowledges and con1irms that notice, i1 an4, &rovided b4 I;I;I an!, as
s&eci1ied in the <oan /erms or in an4 other manner whatsoever, o1 an4 changes in rate-s3 o1 interest or
other charges or an4 notice 1rom I;I;I an! 1or &a4ment o1 amounts at the changed rate-s3, shall be
treated b4 the orrower as su11icient and reasonable notice to the orrower and I;I;I an! is not bound
to issue an4 1urther notice o1 such changes to the orrower.
-ii3 /he orrower ac!nowledges and agrees that the rate s&eci1ied in the ,&&lication 2orm as a&&licable
on an4 de1ault b4 the orrower is reasonable and that it re&resents genuine &re-estimates o1 the loss
e6&ected to be incurred b4 I;I;I an! in the event o1 non &a4ment o1 an4 monies b4 the orrower.
-iii3 Interest on the outstanding amounts under the 2acilit4 = other charges when debited to the relevant
,ccount b4 I;I;I an!, shall be calculated on the dail4 debit balance o1 such ,ccount.
-iv3 /he 2acilit4 and all amounts in res&ect o1 the 2acilit4 shall, in case the same be not &aid on the
res&ective due dates, carr4 1urther interest at the rate s&eci1ied in the ,&&lication 2orm &lus a&&licable
ta6es or other statutor4 levies. Such interest will be com&uted 1rom the res&ective due dates till
re&a4ment = &a4ment thereo1 to I;I;I an! and shall become &a4able u&on the 1ooting o1 com&ound
interest with monthl4 rests or such other rests as ma4 be &rescribed b4 I;I;I an! 1rom time to time.
%. Notwithstanding the mode o1 re&a4ment=&a4ment ado&ted b4 the orrower, the orrower shall
continue to remain at all times liable and res&onsible 1or ensuring the &a4ment=re&a4ment o1 the 2acilit4
and all other monies in res&ect o1 the 2acilit4 to I;I;I an! on or be1ore the relevant Due Date-s3 without
an4 1urther notice=intimation being given b4 I;I;I an! and all such amounts &a4able b4 the orrower to
I;I;I an! shall be &aid, at such &lace=s as I;I;I an! ma4 s&eci14, without an4 deductions whatsoever
-save such deductions as are re8uired to be made 1rom such amounts b4 law3 so as to enable I;I;I an!
to 1ull4 realise the amounts due on or be1ore the res&ective Due Date-s3. /he acce&tance b4 I;I;I an!
o1 an4 &a4ment which is less than the amounts due and owing at such time shall not constitute a waiver
o1 I;I;I an!?s right to receive &a4ment in 1ull at such time or at an4 subse8uent time or a waiver o1 an4
other rights whatsoever o1 I;I;I an! under the <oan /erms.
9. /he orrower shall &a4 the outstanding &rinci&al amount o1 the 2acilit4 as a single bullet re&a4ment at
the end o1 the tenure o1 the 2acilit4 or the orrower ma4 ma!e &artial re&a4ment o1 the amount o1 the
2acilit4 at an4 time be1ore the end o1 the tenure o1 the 2acilit4 /he orrower ma4, with the &rior
a&&roval o1 I;I;I an! -which a&&roval ma4 be given sub5ect to such terms and conditions as ma4 be
sti&ulated b4 I;I;I an! including &a4ment o1 &re&a4ment charges3, &re&a4 the outstanding &rinci&al
amount o1 the 2acilit4 together with all outstanding interest and other charges and monies &a4able
thereon in 1ull or in &art, be1ore the Due Date-s3. /he ,sset-s3 shall be released to the orrower onl4
u&on 1ull and 1inal &a4ment o1 all the orrower?s Dues to I;I;I an!. ,n4 such &re&a4ment shall ta!e
e11ect onl4 a1ter cash has been received or the dra1ts or instruments issued b4 the orrower 1or such
&re&a4ment have been cleared in 1avour o1 I;I;I an!.
#(. Interest and 1urther interest shall accrue 1rom da4 to da4 and shall be com&uted on the basis o1 $)'
da4s a 4ear and the actual number o1 da4s ela&sed.
##. I1 the Due Date in res&ect o1 an4 amounts &a4able in res&ect o1 the 2acilit4 under the <oan /erms
1alls on a da4 which is not a usiness Da4 at the &lace where the &a4ment is to be made, the
immediatel4 &receding usiness Da4 shall be the Due Date 1or such &a4ment.
#2.-,3 /he orrower shall, without an4 demur or dela4, bear all charges relating to che8ue bouncing,
che8ue re-&resentation, interest ta6, service ta6, all other im&osts, duties -including stam& dut4 and
relevant registration and 1iling charges and ta6es -o1 an4 descri&tion whatsoever3 as ma4 be levied 1rom
time to time b4 the 9overnment or other authorit4 and all other costs and e6&enses whatsoever
-including but not limited to an4 costs and e6&enses incurred b4 I;I;I an!3 in connection with=on -a3
the a&&lication 1or, and the grant and re&a4ment o1, the 2acilit4, -b3 the ,&&lication 2orm, <oan /erms
and=or an4 other /ransaction Document, -c3 recover4 and realisation o1 the orrower?s Dues, -d3 the
creation, en1orcement and realisation o1 the securit4 -including, maintaining, storing and selling=trans1er
o1 the ,sset-s33, -e3 clearance o1 arrears o1 all ta6es and an4 other charges and levies &a4able to the
9overnment in res&ect o1 the ,sset-s3, and -13 insuring the ,sset-s3. /he orrower shall also &a4=
reimburse I;I;I an! 1or all and an4 losses, damages, costs, charges, claims, e6&enses and liabilit4 o1
an4 !ind or nature whatsoever -including but not limited to an4 stam& dut4, other duties, ta6es, charges
and &enalties and=or an4 increases in costs to I;I;I an! b4 reason o1 an4 change in law, or in its
inter&retation or administration, under=in relation to the <oan /erms and the securit4, i1 an4, to be
created b4 the orrower3 su11ered, sustained or incurred b4 I;I;I an! in connection with an4 o1 the
above matters i1 and when the same is re8uired to be &aid according to the laws 1or the time being in
1orce.
3
-3 /he orrower shall, without an4 dela4 or demur, bear all interest ta6 as ma4 be levied 1rom time to
time under the a&&licable laws and all other im&osts, duties and ta6es o1 an4 descri&tion = nature
whatsoever as ma4 be levied 1rom time to time b4 the 9overnment or an4 other authorit4 &ertaining to,
or in connection with, the 2acilit4, interest and an4 other monies in connection with the <oan /erms and
the 2acilit4 and also deliver to I;I;I an! evidence satis1actor4 to I;I;I an! -including all relevant ta6
recei&ts in originals3 that the &a4ment o1 such dues have been dul4 &aid to the a&&ro&riate authorit4
within 2( da4s o1 the &a4ment being made.
#$. ,ll &a4ments b4 the orrower in connection with the 2acilit4 shall be made 1ree and clear o1 and
without an4 deduction, e6ce&t to the e6tent that the orrower is re8uired b4 law to ma!e &a4ment
sub5ect to an4 ta6 deduction at source under the a&&licable law. Arovided that, all ta6es re8uired b4 law
to be deducted b4 the orrower 1rom an4 amounts &aid or &a4able under the <oan /erms and the
/ransaction Documents including but not limited to interest, commission, discount, service and other
charges, an4 1ees, shall be &aid b4 the orrower> and the orrower shall, within the statutor4 time 1rame
&rescribed under the law or 2( da4s o1 the &a4ment being made, whichever is earlier, deliver to I;I;I
an! satis1actor4 evidence in accordance with the &revailing ta6 laws as ma4 be amended 1rom time to
time, that the ta6 has been deducted at source and dul4 remitted to the a&&ro&riate authorit4.
#". In the event o1 the orrower 1ailing to &a4 the monies re1erred to above, I;I;I an! shall be at libert4
-but shall not be obliged3 to &a4 the same. /he orrower shall reimburse all sums &aid and=or e6&enses
incurred b4 I;I;I an! -including b4 or on behal1 o1 their re&resentatives = consultants = a&&raiser3 in
relation to the 2acilit4 within D da4s 1rom the date o1 notice o1 demand 1rom I;I;I an!. ,ll such sums
shall carr4 interest 1rom the date o1 &a4ment till such reimbursement at the rate o1 1urther interest
s&eci1ied in the ,&&lication 2orm.
#'. Notwithstanding an4 o1 the &rovisions o1 the Indian ;ontract ,ct, #%D2, or an4 other a&&licable law,
or an4 terms and conditions to the contrar4 contained in the <oan /erms, I;I;I an! ma4, at its absolute
discretion, a&&ro&riate an4 &a4ments made b4 the orrower in accordance with the <oan /erms and
an4 amounts realised b4 I;I;I an! b4 en1orcement o1 securit4 or otherwise, towards the dues &a4able
b4 the orrower to I;I;I an! under the <oan /erms and=or an4 other agreements whatsoever between
the orrower and I;I;I an! and in an4 manner whatsoever. Notwithstanding an4 such a&&ro&riation b4
I;I;I an! towards settlement o1 an4 dues &a4able b4 the orrower to I;I;I an! under an4 other
agreements between the orrower and I;I;I an!, the orrower shall continue to remain liable to I;I;I
an! 1or all outstanding=remaining amounts com&rising the orrower?s Dues.
#). Enless otherwise sti&ulated in the <oan /erms, all monies &a4able b4 the orrower to I;I;I an!
shall be &aid into the account through which the orrower was allowed the o&eration o1 the 2acilit4 or to
such other account-s3 as I;I;I an! ma4 noti14 to the orrower or b4 cash, telegra&hic, tele6 or mail
trans1er or b4 che8ue=ban! dra1t drawn in 1avour o1 I;I;I an! on a scheduled ban! and shall be so &aid
as to enable I;I;I an! to realise, at &ar, the amount on or be1ore the relative Due Date. ;redit 1or all
&a4ments b4 che8ue=ban!-dra1t will be given onl4 on realisation or on the relative Due Date, whichever
is later.
#D. /he 2acilit4 shall be renewed at the sole discretion o1 I;I;I an!, sub5ect to non occurrence o1 an4
Bvent o1 De1ault, satis1actor4 conduct o1 the ,ccount b4 the ,&&licant-s3 and 1ul1illment o1 an4 other
condition as ma4 be sti&ulated b4 I;I;I an! 1rom time to time.
SECURIT-
#%. /he orrower shall create=cause to be created such securit4 on the ,sset-s3, o1 not less than #%
carats, and=or cause such guarantee=s to be 1urnished, as ma4 be considered a&&ro&riate b4 I;I;I an!,
in 1avour o1 I;I;I an! = its trustees or agents, as and when re8uired b4 I;I;I an! and in a 1orm and
manner satis1actor4 to I;I;I an!, as securit4 1or &er1ormance o1 its obligations including &a4ment =
re&a4ment o1 the orrower?s Dues. Such securit4 shall be created = guarantee=s 1urnished within such
&eriod as ma4 be re8uired b4 I;I;I an! and the orrower shall com&l4 with all 1ormalities in relation to
such creation o1 securit4 = 1urnishing o1 guarantee=s to the satis1action o1 I;I;I an!.
#9. Securit4, i1 an4, created b4 the orrower and=or an4 other &erson in 1avour o1 I;I;I an! in
connection with the re&a4ment o1 the orrower?s Dues or com&liance with its covenants and=or
obligations under the <oan /erms, shall continue until the 1ull &a4ment o1 all monies due under=in
res&ect o1 the 2acilit4 and until all covenants under the <oan /erms have been dul4 com&lied with b4 the
orrower and all obligation under the <oan /erms have been dul4 discharged b4 the orrower. 2urther,
I;I;I an! shall have a lien on the ,ssets as also an4 1urther ,sset-s3 &laced b4 the orrower=an4 other
&erson with I;I;I an! irres&ective o1 an4 other lien or charge, &resent or 1uture.
2(. I1 at an4time the value o1 the ,sset-s3 created in 1avour o1 I;I;I an! 1alls so as to create de1icienc4 in
the margin re8uirement s&eci1ied b4 I;I;I an! 1rom time to time, the orrower shall immediatel4 on
intimation 1rom I;I;I an!, de&osit with I;I;I an! additional securit4 in the 1orm o1 cash or such other
4
,sset-s3 which ma4 be acce&table to I;I;I an! within a &eriod o1 $( da4s 1rom the date o1 letter sent b4
I;I;I an!, 1ailing which I;I;I an! ma4 in its discretion sell, dis&ose o11 or realiCe an4 or all the securit4
created in 1avour o1 I;I;I an! without being liable 1or an4 loss or damage in the value realiCed thereb4
and also without &re5udice to I;I;I an!?s right to &roceed against the orrower 1or an4 balance =
additional amounts that ma4 be outstanding in res&ect o1 the 2acilit4. /he securit4, i1 an4, which is
alread4 created in 1avour o1 I;I;I an!, and subse8uentl4 declared b4 I;I;I an! to be unacce&table
shall nevertheless continue to be maintained in I;I;I an!Fs 1avour, unless it is released b4 I;I;I an!.
2#. I;I;I an! has no obligation to return the ,sset-s3 to the orrower till such time all the orrower?s
Dues are &aid in 1ull to I;I;I an! b4 the orrower to the satis1action o1 I;I;I an!.
REPRESENTATIONS, WARRANTIES AND COVENANTS
22. /he entr4 into, deliver4 and &er1ormance b4 the orrower o1 the transactions contem&lated b4 the
<oan /erms do not and shall not con1lict with an4 law or an4 document, which is binding u&on the
orrower or on an4 o1 its ,ssets.
2$. /he re&a4ment = &a4ment o1 orrower?s Dues shall not be a11ected, im&aired or discharged b4
insolvenc4 or death or otherwise o1 the orrower.
2". /he orrower declares that it is com&etent and 1ull4 authorised to contract within the meaning o1 the
Indian ;ontract ,ct #%D2 and other laws in 1orce and to issue such declarations, con1irmations,
agreements and underta!ings and to submit the ,&&lication 2orm 1or the &ur&oses o1
borrowing=availing o1 the re8uested 2acilit4, and to e6ecute all other documents re8uired b4 I;I;I an!
1or such &ur&ose. I1 the orrower is 1ound=held not to be liable to I;I;I an! in law b4 reason o1
inca&acit4 to borrow or to contract or 1or an4 other reason whatsoever, it shall nevertheless be liable to
reimburse I;I;I an! and to &a4 I;I;I an! all the sums that would have been otherwise recoverable b4
I;I;I an! 1rom it.
2'. B6ce&t to the e6tent disclosed to I;I;I an!, the orrower has not ta!en an4 action and no other
ste&s have been ta!en or legal &roceedings started b4 or against it in an4 court o1 law = other authorities
1or its insolvenc4, ban!ru&tc4, administration or 1or the a&&ointment o1 a receiver, administrator,
administrative receiver, trustee or similar o11icer o1 the orrower or o1 an4 or all i1 its ,ssets. ,ll letter-s3,
a&&rovals, and documents 1urnished b4 the orrower to I;I;I an! are valid and subsisting. ,ll
documents e6ecuted b4 the orrower in connection with the 2acilit4 are valid and subsisting and will
not be revo!ed b4 the orrower during the subsistence o1 the 2acilit4.
2). /he orrower has not been declared to be a wil1ul de1aulter till date.
2D. /he orrower is the sole and absolute owner o1 the ,sset-s3 and none o1 the ,sset-s3 have been
o11ered and=or &resentl4 constitute securit4 1or an4 other loan=advance availed b4 the orrower or an4
other &erson. /he orrower 1urther underta!es to bear and &a4 all the ta6es, duties, &remiums, charges
and an4 other amounts whatsoever, i1 an4, &a4able in connection with the ,sset-s3.
2%. /he orrower shall create= cause to be created such securit4 over and above the ,sset-s3 alread4
&rovided to I;I;I an! in case the ,sset-s3 is=are ta!en into custod4 b4 an4 9overnment ,uthorit4
including the Aolice De&artment or shall re&a4 the outstanding balance together with interest and other
charges as sti&ulated b4 I;I;I an! within a sti&ulated &eriod as determined b4 I;I;I an! in the event
o1 such ,sset-s3 being ta!en into custod4 b4 an4 9overnment ,uthorit4 including the Aolice
De&artment.
29. /he orrower shall not trans1er or encumber an4 securit4 created in 1avour o1 I;I;I an! in an4
manner whatsoever. I;I;I an! shall not recogniCe an4 encumbrance in 1avour o1 an4 other &erson
unless I;I;I an! has accorded its consent 1or such encumbrance and has also noted the same in its
records. I;I;I an! has no obligation to return an4 securit4 created in 1avour o1 I;I;I an! to the
orrower till such time all the orrower?s Dues = amounts in res&ect o1 the 2acilit4 are &aid in 1ull to I;I;I
an! b4 the orrower to the satis1action o1 I;I;I an!.
$(. Bach o1 such re&resentations, declarations, warranties and con1irmations given b4 the orrower are,
true, correct, valid and subsisting in ever4 res&ect as o1 the date o1 the ,&&lication 2orm, date-s3 o1
disbursement-s3 o1 the 2acilit4, date-s3 o1 creation o1 securit4, and date-s3 o1 re&a4ment = &a4ment o1 the
orrower?s Dues, and all such re&resentations, declarations, warranties and agreements shall survive
the e6ecution and deliver4 o1 the ,&&lication 2orm, the &rovision o1 the 2acilit4 &ursuant to the
,&&lication 2orm and the re&a4ment=&a4ment in 1ull o1 the 2acilit4 and all monies in res&ect thereo1.
$#. /he orrower shall &rom&tl47
-i3 noti14 I;I;I an! o1 the occurrence o1 an4 event or the e6istence o1 an4 circumstances, which
constitutes or results in an4 declarations, re&resentation, warrant4, covenant or condition under the
<oan /erms being or becoming untrue or incorrect in an4 res&ect>
-ii3 deliver to I;I;I an!, such statements=in1ormation=accounts=records=re&orts=documents, 1inancial or
5
otherwise, as ma4 be re8uired b4 I;I;I an! 1rom time to time in relation to the 2acilit4, the orrower?
business and o&erations, assets etc. within the &eriod s&eci1ied b4 I;I;I an!.
-iii3 noti14 I;I;I an! o1 an4 action or ste&s ta!en or legal &roceedings started b4 or against it in an4
court o1 law 1or his=her insolvenc4 or 1or the a&&ointment o1 a receiver, administrator, administrative
receiver, trustee or similar o11icer o1=over the orrower or o1=over an4 o1 his=her assets>
-iv3 noti14 I;I;I an! o1 an4 litigation, arbitration, administrative or other &roceedings initiated or
threatened against the orrower or its &ro&ert4 or an4 o1 the ,sset-s3>
-v3 noti14 I;I;I an! o1 an4 circumstances and conditions which have=ma4 have a material adverse e11ect
on the transaction.
-vi3 and not later than D da4s 1rom the occurrence o1 an4 o1 the 1ollowing events, noti14 I;I;I an! in
writing with 1ull details o1 the same7 -a3 death o1 1 the orrower> and -b3 all change=s in the
location=address o1 an4 o1 the orrower?s residence or &lace o1 business.
-vii3 ;om&l4 with all laws a&&licable to or binding on it or its business and occu&ation including but
not limited to laws relating to &rotection o1 the environment.
$2. No dela4 in e6ercising or omission to e6ercise an4 right, &ower or remed4 accruing to I;I;I an!
u&on an4 de1ault or otherwise under the <oan /erms and=or the other /ransaction Documents shall
im&air an4 such right, &ower or remed4 or shall be construed to be a waiver thereo1 or an4
ac8uiescence in such de1ault, nor shall the action or inaction o1 I;I;I an! in res&ect o1 an4 de1ault or
an4 ac8uiescence b4 it in an4 de1ault, a11ect or im&air an4 right, &ower or remed4 o1 I;I;I an! in
res&ect o1 an4 other de1ault. /he rights o1 I;I;I an! under the <oan /erms and the /ransaction
Documents ma4 be e6ercised as o1ten as necessar4, are cumulative and not e6clusive o1 their rights
under the general law and ma4 be waived onl4 in writing and s&eci1icall4 and at I;I;I an!?s sole
discretion.
$$. /he in1ormation &rovided in the ,&&lication 2orm is=are true and accurate in all material res&ects,
is=are not misleading and does not omit an4 material 1act, the omission o1 which would ma!e an4 1act or
statement therein misleading and the other re&resentations and warranties in the ,&&lication 2orm shall
be deemed to 1orm &art o1 the re&resentations and warranties herein made.
$". ,ll acts, conditions and things re8uired to be done, 1ul1illed or &er1ormed, and all authorisations
re8uired or essential 1or the entr4 and deliver4 o1 the ,&&lication 2orm, the /ransaction Documents or
1or the &er1ormance o1 the orrower?s obligations in terms o1 and under the <oan /erms have been
done, 1ul1illed, obtained, e11ected and &er1ormed and are in 1ull 1orce and e11ect and no such
authorisation has been, or is threatened to be, revo!ed or canceled.
$'. /he orrower has the &ower to avail o1 the 2acilit4 1rom I;I;I an! and the total borrowings
-including the 2acilit43 are within the &rescribed limits, i1 an4. /he orrower has 1ull, right, title and
interest in the ,sset-s3 and the ,sset-s3 are 1ree 1rom encumbrances o1 an4 nature whatsoever. /he
orrower shall not encumber or trans1er the ,sset-s3 to an4 &erson without the a&&roval o1 I;I;I an!.
$). /he /ransaction Documents have been dul4 and validl4 e6ecuted b4 the orrower or on behal1 o1
the orrower and each /ransaction Document constitutes or when e6ecuted in accordance with its
terms will constitute, legal, valid and binding obligations o1 the orrower en1orceable in accordance
with their res&ective terms.
$D. B6ce&t to the e6tent disclosed to I;I;I an!, no litigation, arbitration, administrative or other
&roceedings are &ending or threatened against the orrower or its assets, which, i1 adversel4
determined, might have a material adverse e11ect.
$%. B6ce&t to the e6tent disclosed to I;I;I an!7 -a3 all the orrower?s contracts or agreements with, or
an4 commitments to, an4 a11iliates or grou& com&anies -i1 a&&licable3 are on arms? length basis> -b3 no
director or a relative=near relation -as s&eci1ied b4 RI3 o1 a director o1 a ban!ing com&an4 -including
I;I;I an!3 or a relative=near relation -as s&eci1ied b4 RI3 o1 a senior o11icer o1 I;I;I an! -as s&eci1ied
b4 RI3 is7 a &artner o1 the orrower, or a trustee, member, director, manager, em&lo4ee o1 the
orrower, or o1 a subsidiar4 o1 the orrower, or o1 the holding com&an4 o1 the orrower, or a guarantor
on behal1 o1=1or=to the orrower, or holds substantial interest, in the orrower or a subsidiar4 or the
holding com&an4 o1 the orrower.
$9. /he orrower a11irms that there are no &ending dis&utes = &roceedings relating to income ta6 or an4
other ta6 dues against the orrower.
"(. /he orrower shall com&l4 with such other conditions as ma4 be sti&ulated b4 I;I;I an! 1rom time
to time on account o1 re8uirement o1 an4 a&&licable law.
"#. /he orrower shall e6ecute = 1urnish such deeds, documents and writings and do all such acts,
deeds and things as ma4 be re8uired b4 I;I;I an! in connection with the 2acilit4.
"2. Notwithstanding an4thing contained herein, the claim o1 the orrower 1or loss or damage to the
,sset-s3 due to gross negligence, i1 an4, on the &art o1 the an!, shall not e6ceed be4ond the value o1
the ,sset-s3 as determined b4 I;I;I an! e6cluding the value o1 non-gold 1astenings, &recious and semi-
6
&recious stones in case o1 total loss o1 the ,sset-s3 or shall be onl4 the e6tent o1 cost o1 re&air o1 such
damage done to the ,sset-s3.
"$. /he orrower shall 1orthwith noti14 I;I;I an! o1 an4 change in its address 1or communication as
stated in the ,&&lication 2orm. I;I;I an! reserves the right to change the orrowerFs address in its
records i1 such change in address comes to the notice o1 I;I;I an!. /he res&onsibilit4 shall be solel4 o1
the orrower to ensure that I;I;I an! has been in1ormed o1 the correct address 1or communication,
and I;I;I an! disclaims all liabilit4 in case o1 an incorrect address resulting in an4 loss or liabilit4 1or the
orrower.
"". /he orrower shall adhere to and com&l4 with all such terms and conditions as I;I;I an! or its
a11iliates ma4 &rescribe 1rom time to time 1or 1acilities= services availed o1 b4 the orrower and hereb4
agrees and con1irms that all such transactions e11ected b4 or through 1acilities 1or conducting remote
transactions including the internet, world wide web, electronic data interchange, call centres, teleservice
o&erations -whether voice, video, data or combination thereo13 or b4 means o1 electronic, com&uter,
automated machines networ! or through other means o1 telecommunication, established b4 or on
behal1 o1 I;I;I an! or its a11iliates, 1or and in res&ect o1 such 1acilities= services o11ered, shall constitute
legall4 binding and valid transactions when done in adherence to and in com&liance with the terms and
conditions &rescribed b4 I;I;I an! or its a11iliates 1or such 1acilities= services, as ma4 be &rescribed
1rom time to time.
E3ENTS OF DEFAULTS
45. /he 1ollowing shall constitute an .Bvent o1 De1ault0 1or the &ur&oses o1 the <oan /erms7
-i3 De1ault has occurred in the &a4ment o1 an4 monies in res&ect o1 the 2acilit4 on the Due Dates 1or
&a4ment thereo1 or otherwise and=or in the &er1ormance o1 an4 covenant, condition or agreement on
the &art o1 the orrower and=or an4 other relevant &erson under the <oan /erms and = or the /ransaction
Documents>
-ii3 reach o1 an4 covenant, underta!ing, re&resentation, warrant4, declaration or con1irmation under the
<oan /erms has occurred = been committed and=or the orrower and=or an4 relevant &erson has=have
committed an4 1raud= 1ailed to submit an4 material in1ormation as re8uired under the <oan /erms.
-iii3 /he orrower has, or there is a reasonable a&&rehension that the orrower has or would, voluntaril4
or involuntaril4 become the sub5ect o1 &roceedings under an4 insolvenc4 law, or voluntaril4 or
involuntaril4 becomes insolvent or i1 the orrower has ta!en or su11ered to be ta!en an4 action 1or the
orrowerFs insolvenc4 or i1 a receiver or li8uidator has been a&&ointed or allowed to be a&&ointed
o1=over all or an4 &art o1 the ,sset-s3 and=or an4 other &ro&erties o1 the orrower or i1 an attachment or
distraint has been levied on the ,sset-s3 or the orrower?s other assets or an4 &art thereo1 or certi1icate
&roceedings have been ta!en or commenced 1or recover4 o1 an4 dues 1rom the orrower or i1 one or
more 5udgements or decrees have been rendered or entered against the orrower or death o1 the
orrower or an4 o1 them..
-iv3 /he orrower?s title to the ,sset-s3 or an4 &art thereo1 is de1ective, or challenged b4 an4 &erson, in
an4 manner and=or the ,sset-s3 or an4 &art=s thereo1 is 1ound to be s&urious or o1 in1erior 8ualit4.
-v3 /he orrower has done incom&lete documentation with res&ect to the 2acilit4, or i1 there is an4
misre&resentation b4 the orrower or an4 other de1ect in the documents 1urnished b4 the orrower with
res&ect to the said 2acilit4.
-v3 I1 the securit4, i1 an4, 1or the 2acilit4 is in 5eo&ard4 or ceases to have e11ect or becomes illegal, invalid,
unen1orceable or otherwise 1ails or ceases to be in e11ect.
-vi3 It is or becomes unlaw1ul or im&ossible 1or the orrower or an4 other relevant &erson -including
I;I;I an!3 to &er1orm an4 o1 their res&ective obligations under the <oan /erms.
-vii3 ,n event o1 de1ault howsoever described -or an4 event which with the giving o1 notice, la&se o1
time, determination o1 materialit4 or 1ul1ilment o1 an4 other a&&licable condition or an4 combination o1
the 1oregoing would constitute an event o1 de1ault3 occurs under an4 agreement or document relating to
an4 indebtedness o1 the orrower or i1 an4 other lenders o1 the orrower including 1inancial institutions
or ban!s -including I;I;I an!3 with whom the orrower has entered into agreements 1or 1inancial
assistance have recalled its=their assistance or an4 &art thereo1.
-viii3 :ne or more events, conditions or circumstances -including an4 change in law3 occur or e6ist,
which in the sole o&inion o1 I;I;I an!, could have a material adverse e11ect.
-i63 /he orrower has been declared to be a will1ul de1aulter.
-63 I1 the orrower 1ails to &lace the ,sset-s3 u&to the re8uired margin and = or ma!es drawals under the
2acilit4 without the a&&roval o1 I;I;I an!, or 1ails to use the ,ccount other than 1or drawals under the
2acilit4.
7
-6i3 /he orrower and=or an4 other relevant &erson -e6cluding I;I;I an!3 1ail or is = are unable to
&er1orm an4 o1 their res&ective obligations under an4 other agreement = document.
"). /he orrower shall &rom&tl4 noti14 I;I;I an! in writing u&on becoming aware o1 an4 de1ault and
an4 event which constitutes -or, with the giving o1 notice, la&se o1 time, determination o1 materialit4 or
satis1action o1 other conditions, would be li!el4 to constitute3 an Bvent o1 De1ault and the ste&s, i1 an4,
being ta!en to remed4 it.
"D. /he decision o1 I;I;I an! as to whether or not an Bvent o1 De1ault has occurred shall be 1inal and
binding u&on the orrower.
RIG2TS AND REMEDIES OF ICICI BANK
48. :n the ha&&ening o1 an4 o1 the Bvents o1 De1ault, I;I;I an! ma4, b4 a notice in writing to the
orrower and without &re5udice to the rights and remedies available to I;I;I an! under the <oan /erms
or otherwise7
-a3 call u&on the orrower to immediatel4 &a4 all the orrower?s Dues, and=or
-b3 declare the securit4, i1 an4, created in terms o1=&ursuant to the <oan /erms to be en1orceable, and
I;I;I an!, its trustee-s3 = agent-s3, shall have, inter alia, the right to -notwithstanding an4thing to the
contrar4 in the <oan /erms and irres&ective o1 whether the entire 2acilit4 or an4 &art o1 the orrower?s
Dues has=have been recalled3 ta!e all such ste&s as are deemed necessar4 b4 I;I;I an! to en1orce the
securit4 and recover all outstanding amounts o1 the orrower?s Dues.
I;I;I an! ma4, without &re5udice to the other rights and remedies available to it under law, sub5ect to
three -$3 da4?s &rior notice to the orrower -which &eriod o1 notice the orrower agrees is reasonable
notice3, at the cost o1 the orrower, sell or otherwise dis&ose o1 all or an4 &art o1 the ,sset-s3 and ma4
a&&l4 the net &roceeds o1 an4 such sale or dis&osition towards re&a4ment = &a4ment o1 the orrower?s
Dues to I;I;I an!. I;I;I an! shall be entitled to e6ercise the a1oresaid &ower o1 sale in such manner
and at such time-s3 and 1or such consideration -whether &a4able immediatel4 or b4 installments3 as it
shall in its absolute discretion thin! 1it -whether b4 &rivate sale or otherwise3 and the ,sset-s3 -or an4
relevant &art thereo13 ma4 be sold -i3 sub5ect to an4 conditions which I;I;I an! ma4 thin! 1it to im&ose,
-ii3 to an4 &erson -including I;I;I an! or an4 &erson connected with the orrower or I;I;I an!3 and -iii3
at an4 &rice which I;I;I an!, in its absolute discretion, consider to be the best obtainable in the
circumstances. I;I;I an! is authoriCed to give a good discharge 1or an4 mone4s received b4 it
&ursuant to the e6ercise o1 its &ower o1 sale and a &urchaser shall not be bound to en8uire whether the
&ower o1 sale has arisen as herein &rovided nor be concerned with the manner o1 a&&lication o1 the
&roceeds o1 sale.
/he orrower shall not have an4 claim against I;I;I an! and=or its nominees in res&ect o1 an4 loss
arising out o1 an4 such sale &ursuant to &rovisions stated above or an4 &ost&onement thereo1
howsoever caused and whether or not a better &rice could or might have been obtained u&on the sale
or dis&osition o1 the whole or an4 &art o1 the ,sset-s3l b4 de1erring or advancing the date o1 such sale or
otherwise howsoever.
I;I;I an! ma4, at its absolute discretion, a&&ro&riate the &roceeds o1 an4 collection, sale or other
realisation o1 all or an4 &art o1 the ,sset-s3 &ursuant hereto and an4 other monies or amounts received
b4 I;I;I an! or its trustee-s3 = agent-s3, towards the orrower?s Dues and such a&&ro&riation b4 I;I;I
an! shall be 1inal and binding on the orrower in all res&ects.
-c3 terminate the 2acilit4,
-d3 e11ect closure o1 the ,ccount,
-e3 sus&end =cancel the 2acilit4,
-13 reduce the availabilit4 o1 the amounts o1 the 2acilit4, and ad5ust such monies against the :verall <imit
and all such ad5ustments shall be treated as drawals b4 the orrower.
"9. I;I;I an! shall be entitled, at the sole ris! and cost o1 the orrower, to engage one or, more
&erson-s3 to collect the orrower?s Dues and=or to en1orce an4 securit4 &rovided b4 the orrower, and
I;I;I an! ma4 -1or such &ur&oses3 1urnish to such &erson-s3 such in1ormation, 1acts and 1igures
&ertaining to the orrowers the securit4 as I;I;I an! deems 1it. I;I;I an! ma4 also delegate to such
&erson-s3 the right and authorit4 to &er1orm and e6ecute all acts, deeds, matters and things connected
therewith, or incidental thereto, as I;I;I an! deems 1it.
'(. I;I;I an! is irrevocabl4 authorised and entitled, at its sole discretion, to act on the orrower?s
behal1, at the orrower?s sole ris! and cost and to ta!e all necessar4 ste&s, actions and &roceedings as
I;I;I an! deems 1it to sa1eguard the interests o1 I;I;I an!, and=or to sell the ,sset-s3, receive all
monies &a4able under or u&on en1orcement o1 securit4 and to give a valid recei&t there1or on behal1 o1
8
the orrower and to a&&l4 such &roceeds in a manner as deemed 1it b4 I;I;I an! towards re&a4ment =
&a4ment o1 the orrower?s Dues or otherwise.
'#. I;I;I an! shall not in an4 wa4 be liable=res&onsible 1or an4 loss or damage to, the ,sset-s3 on an4
account whatsoever whilst the same are in the &ossession o1 I;I;I an! or b4 reason o1 e6ercise or non-
e6ercise o1 an4 rights and remedies available to I;I;I an! as a1oresaid due to causes be4ond the
control o1 I;I;I an!, viC. 2orce *a5eure. I;I;I an! shall not be liable 1or an4 loss or damage or
diminution in value sustained = realised thereb4 or 1or an4 loss or diminution in value o1, the ,sset-s3 on
an4 account whatsoever b4 reason o1 e6ercise or non-e6ercise o1 an4 rights and remedies available to
I;I;I an! as a1oresaid. /he orrower shall also not be entitled to raise an4 claim against I;I;I an! on
the grounds that a larger sum or amount might or ought to have been received 1rom the ,sset-s3 or be
entitled to dis&ute the liabilit4 o1 the orrower 1or the balance amount o1 orrower?s Dues remaining
due a1ter ad5ustment thereo1 in accordance with the <oan /erms.
'2. I1 an4 one -or more3 Bvents o1 De1ault shall have occurred, then I;I;I an! is, in addition to the
various rights and remedies o1 I;I;I an! re1erred to in the clauses above, irrevocabl4 entitled and
authorised to contact and re8uire the orrower?s em&lo4ers to ma!e deduction=s 1rom the salar4=wages
&a4able b4 the em&lo4er to the orrower and to remit the same to I;I;I an! until all o1 the orrower?s
Dues outstanding 1rom the orrower to I;I;I an! is=are com&letel4 discharged. /he deductions shall
be o1 such amounts, and to such e6tent, as I;I;I an! ma4 communicate to -and instruct3 the
orrower?s em&lo4ers. /he orrower shall not have, or raise=create, an4 ob5ections to such deductions.
No law or contract governing the orrower and=or the orrower?s em&lo4er &revents or restricts in an4
manner the a1oresaid right o1 I;I;I an! to re8uire such deduction and &a4ment b4 the orrower?s
em&lo4er to I;I;I an!.
'$. Arovided, however, that in the event the amounts so realised 1rom the ,sset-s3 or deducted in
accordance with the &receding clauses o1 these Standard /erms are insu11icient to re&a4 = &a4 the total
outstanding orrower?s Dues to I;I;I an! in 1ull, the un&aid amounts remaining due to I;I;I an! shall
be immediatel4 &a4able b4 the orrower in such manner as I;I;I an! ma4 in its sole discretion decide
and such &a4ment shall be made b4 the orrower accordingl4.
'". In addition to I;I;I an!?s various rights as s&eci1ied in the &receding &rovisions above, I;I;I an!
shall also be entitled to a&&oint an4 &erson engaged in technical or an4 other consultanc4 business to
ins&ect and e6amine the ,ssets o1 the orrower and to re&ort to I;I;I an!.
''. Notwithstanding an4 sus&ension or termination o1 the 2acilit4, all rights and remedies o1 I;I;I an!
as &er the <oan /erms shall continue to survive until the recei&t b4 I;I;I an! o1 the orrower?s Dues in
1ull.
'). -i3 I;I;I an! and its grou& com&anies shall have the &aramount right o1 set-o11 and lien, irres&ective
o1 an4 other lien or charge, &resent as well as 1uture on the de&osits o1 an4 !ind and nature -including
1i6ed de&osits3 held= balances l4ing in an4 accounts o1 the orrower, whether in single name or 5oint
name-s3 and on an4 monies, ,sset-s3, bonds and all other assets, documents and &ro&erties held b4=
under the control o1 I;I;I an! and=or its grou& com&anies -whether b4 wa4 o1 securit4 or otherwise
&ursuant to an4 contract entered= to be entered into b4 the orrower in an4 ca&acit43 to the e6tent o1 all
outstanding dues, whatsoever, arising as a result o1 an4 o1 I;I;I an!Fs or its grou& com&anies? services
e6tended to and=or used b4 the orrower and=or as a result o1 an4 other 1acilities that ma4 be granted
b4 I;I;I an! and=or its grou& com&anies to the orrower. I;I;I an! and= or its grou& com&anies are
entitled without an4 notice to the orrower=s to settle an4 indebtedness whatsoever owed b4 the
orrower to I;I;I an! and=or its grou& com&anies, -whether actual or contingent, or whether &rimar4
or collateral, or whether 5oint and=or several3 hereunder or under an4 other document= agreement, b4
ad5usting, setting-o11 an4 de&osit-s3 and=or trans1erring monies l4ing to the balance o1 an4 account-s3
held b4 the orrower with I;I;I an! and=or its grou& com&anies notwithstanding that the de&osit-s3=
balances l4ing in such account-s3 ma4 not be e6&ressed in the same currenc4 as such indebtedness.
I;I;I an!Fs and its grou& com&anies? rights hereunder shall not be a11ected b4 the orrower?s
ban!ru&tc4, death or winding-u&. It shall be the orrower?s sole res&onsibilit4 and liabilit4 to settle all
dis&utes= ob5ections with an4 such 5oint account holders.
-ii3 In addition to the above mentioned right or an4 other right which I;I;I an! and its grou& com&anies
ma4 at an4 time be entitled whether b4 o&eration o1 law, contract or otherwise, the orrower authorises
the an!7 -a3 to combine or consolidate at an4 time all or an4 o1 the accounts and liabilities o1 the
orrower with or to an4 branch o1 I;I;I an! and=or its grou& com&anies> -b3 to sell an4 o1 the
orrower=s? ,sset-s3 or &ro&erties held b4 the an! b4 wa4 o1 &ublic or &rivate sale without having to
institute an4 5udicial &roceeding whatsoever and retain=a&&ro&riate 1rom the &roceeds derived there
1rom the total amounts outstanding to I;I;I an! and=or it grou& com&anies 1rom the orrower=s,
including costs and e6&enses in connection with such sale> and -c3 in case o1 cross currenc4 set-o11, to
convert an obligation in one currenc4 to another currenc4 at a rate determined at the sole discretion o1
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I;I;I an! and=or its grou& com&anies.'D. I;I;I an! reserves the right to 7 -i3 o11er the orrower, whose
accounts have been maintained in good standing as &er the credit norms o1 I;I;I an!, certain 1acilities,
membershi&s and services at such 1ees and on such terms and conditions as it ma4 deem 1it> -ii3 waive
or reduce the 1ees and to withdraw such bene1it at an4 time without &rior notice to the orrower and
without an4 liabilit4 to I;I;I an!. ,n4 termination o1 the 2acilit4 because o1 a violation o1 the <oan
/erms, shall result automaticall4 in the termination o1 such 1acilities and services. I;I;I an! shall not be
liable, in an4 wa4, to the orrower, in case o1 de1ect or breach in the &er1ormance o1 carr4ing out an4
1acilities, membershi&s or services or the non-&er1ormance thereo1, whether b4 I;I;I an! or an4
other third &art4. I;I;I an! reserves the right to use the in1ormation &rovided b4 the orrower on its
a&&lication and during surve4s, in1ormation 1rom e6ternal sources, including consumer re&orts, 1or
mar!eting activities carried out b4 I;I;I an! = its a11iliates. I;I;I an! ma4 use this in1ormation to
develo& mailing lists that ma4 be used b4 com&anies with whom I;I;I an! shall wor! to develo&
mar!eting o11ers 1or the orrower. I;I;I an! reserves the right to revise the &olicies, 1eatures and
bene1its o11ered on the 2acilit4 1rom time to time and ma4 noti14 the orrower o1 an4 such
revisions=changes in an4 manner as deemed a&&ro&riate. /he orrower will be bound b4 such
revisions=changes unless the 2acilit4 is re&aid = cancelled be1ore the date on which the
revisions=changes are made. /he details o1 all transactions recorded in the borrowing =loan account o1
the orrower ma4 be shared with credit re1erence agencies, lenders and=or other agencies 1or the
&ur&oses o1 assessing 1urther a&&lications 1or credit b4 the orrower and=or his = her 1amil4 members,
and 1or 1raud &revention.
58. /he <oan /erms and the /ransaction Documents shall be governed b4 the laws o1 India. ,n4 legal
action or &roceedings arising out o1 the <oan /erms and the /ransaction Documents shall be
brought in the courts or tribunals at *umbai in India and the orrower and the relevant &erson
irrevocabl4 submit themselves to the 5urisdiction o1 such courts and tribunals. I;I;I an! ma4,
however, in its absolute discretion, commence an4 legal action or &roceedings arising out o1 the
<oan /erms and the /ransaction Documents in an4 other court, tribunal or other a&&ro&riate 1orum,
and the orrower and the relevant &erson shall be deemed to have accorded their consent to that
5urisdiction. ,n4 &rovision o1 the <oan /erms and the /ransaction Documents which is &rohibited or
unen1orceable in an4 5urisdiction shall, as to such 5urisdiction, be ine11ective to the e6tent o1
&rohibition or unen1orceabilit4 but shall not invalidate the remaining &rovisions o1 the <oan /erms
and the /ransaction Documents or a11ect such &rovision in an4 other 5urisdiction.
MISCELLANEOUS
59. /he orrower shall, 1rom time to time, issue or e6ecute or cause to be e6ecuted in 1avour o1 I;I;I
an! and=or its trustee-s3 = agent-s3 = nominee-s3 such deeds, &owers o1 attorne4 and other documents
and writings as ma4 be re8uired b4 I;I;I an! at its discretion 1or &rotection o1 the securit4 and=or an4
o1 its rights and e6ercise o1 its rights and remedies under the <oan /erms.)(. I;I;I an! has the right to
o&en the seal in which the ,sset-s3 are !e&t, in the absence o1 the owner o1 the ,sset-s3, 1or the &ur&ose
o1 the second a&&raisal=audit o1 the ,sset-s3 in the &resence o1 the authorised o11icials o1 I;I;I an! and
a&&raisers.
)#. /he <oan /erms, letters and documents, the orrower?s Dues and=or the securit4, i1 an4, e6ecuted or
created in 1avour o1 I;I;I an!, shall not be revo!ed or cancelled or a11ected b4 the death, dissolution,
insolvenc4 o1 the orrower or an4 third &art4, and I;I;I an! shall, so long as the whole -or an4 &art3 o1
the orrower?s Dues remains outstanding=&a4able to I;I;I an!, be entitled to deal with res&ect to the
,sset-s3 and to act u&on and en1orce all o1 its rights &ursuant to, and in accordance with, the <oan
/erms. )2. /he entries made in the accounts = account boo!s = records o1 I;I;I an! maintained in
accordance with its usual &ractice and in com&liance with the statutor4 re8uirements and=or an4
statement signed b4 a designated o11icer o1 I;I;I an! with res&ect to the orrower?s Dues, shall be 1inal
and binding on the orrower. Such entries and=or statements shall be conclusive evidence o1 the
e6istence and amount o1 outstanding obligations o1 the orrower as therein recorded in res&ect o1 the
2acilit4 and the orrower?s Dues.)$. I;I;I an! shall not be liable in an4 manner whatsoever, i1 the to!en
card o1 the customer is lost b4 the customer and the same is misused b4 an4 &erson.)". ,ll notices or
other communications under or in connection with the orrower?s Dues and=or the <oan /erms shall be
given in writing and, unless otherwise stated ma4 be made b4 letter or 1acsimile. ,n4 such notice or
other communication will be deemed to be e11ective7 -i3 i1 sent b4 letter, when delivered &ersonall4 or i1
dis&atched b4 &ost, when recall o1 the letter is outside the control o1 the sender> and -ii3 i1 sent b4
1acsimile, when sent -on recei&t o1 a con1irmation to the correct 1acsimile number3. Arovided, however,
that no notice or communication to I;I;I an! shall be e11ective unless actuall4 received and
ac!nowledged b4 I;I;I an!. Notices or communication ma4 be made to7 -i3 the orrower?s address or
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1acsimile number to which notices = communications are to be sent -as s&eci1ied in the ,&&lication
2orm3, and -ii3 I;I;I an!?s Conal = regional = branch o11ice address or 1acsimile number -as s&eci1ied in
the ,&&lication 2orm3, or to such other address or 1acsimile number as ma4 be designated b4 the
orrower and I;I;I an! in writing to each other. In the event o1 an4 1ailure b4 the orrower to noti14
I;I;I an! in writing o1 an4 changes in its contact address or details, service o1 a notice=
corres&ondence to the address s&eci1ied in the ,&&lication 2orm or last given b4 the orrower shall be
deemed to be &ro&er and su11icient service on the orrower irres&ective o1 whether or not such notice
shall be returned .unserved0 to I;I;I an!. , notice &ublished in the news&a&er available in the area o1
residence or wor! o1 the orrower shall be su11icient notice to the orrower 1rom the date o1 its
&ublications> &rovided however, a notice in a news&a&er shall not be e11ective against I;I;I an! unless
ac!nowledged b4 I;I;I an!.)'. /he orrower shall not assign or trans1er all or an4 o1 its rights, bene1its
or obligations under the <oan /erms without the a&&roval o1 I;I;I an!. I;I;I an! ma4, at an4 time,
assign, securitise, novate or trans1er -in an4 1orm or manner whatsoever3 all or an4 o1 its rights, bene1its
and obligations under the <oan /erms. Notwithstanding an4 such assignment or trans1er, the orrower
shall, unless otherwise noti1ied b4 I;I;I an!, continue to ma!e all &a4ments under the <oan /erms to
I;I;I an! and all such &a4ments when made to I;I;I an! shall constitute a 1ull discharge to the
orrower 1rom all its liabilities in res&ect o1 such &a4ments. Githout &re5udice to the a1oresaid
&rovisions, I;I;I an! ma4 -at its sole discretion3, without notice to the orrower, share the credit ris! o1
the whole or a &art o1 the 2acilit4 with an4 other &erson b4 wa4 o1 &artici&ation. Notwithstanding such
&artici&ation, all rights, title, interests, s&ecial status and other bene1its and &rivileges en5o4ed or
con1erred u&on or held b4 I;I;I an! under the <oan /erms shall remain valid, e11ective and en1orceable
b4 I;I;I an! on the same terms and conditions and the orrower shall continue to discharge in 1ull all
its obligations under the <oan /erms. /he orrower shall not have and shall not claim an4 &rivit4 o1
contract with such &erson on account o1 an4 reason whatsoever.)). ,n4 &rovision o1 the <oan /erms,
which is &rohibited or unen1orceable in an4 5urisdiction shall, as to such 5urisdiction, be ine11ective to the
e6tent o1 the &rohibition or unen1orceabilit4 but that shall not invalidate the remaining &rovisions o1 the
<oan /erms or a11ect such &rovision in an4 other 5urisdiction.)D. No dela4 in e6ercising or omission to
e6ercise an4 right, &ower or remed4 accruing to I;I;I an! u&on an4 de1ault or otherwise under the
<oan /erms shall im&air an4 such right, &ower or remed4 or shall be construed to be a waiver thereo1 or
an4 ac8uiescence in such de1ault, nor shall the action or inaction o1 I;I;I an! in res&ect o1 an4 de1ault
or an4 ac8uiescence b4 it in an4 de1ault, a11ect or im&air an4 right, &ower or remed4 o1 I;I;I an! in
res&ect o1 an4 other de1ault. /he rights o1 I;I;I an! under the <oan /erms ma4 be e6ercised as o1ten as
necessar4, are cumulative and not e6clusive o1 their rights under the general law and ma4 be waived
onl4 in writing and s&eci1icall4 and at I;I;I an!?s sole discretion.)%. /he <oan /erms shall -unless
otherwise s&eci1ied in the ,&&lication 2orm or an4 /ransaction Document3 be governed b4 and
construed in accordance with the laws o1 India. )9. I;I;I an! shall, as it ma4 deem a&&ro&riate and
necessar4, be entitled to disclose all or an47 -i3 in1ormation and data relating to the orrower> -ii3
in1ormation or data relating to the 2acilit4, <oan /erms and=or the ,sset-s3, i1 an4, 1urnished b4 the
orrower in 1avour o1 I;I;I an!> -iii3 obligations assumed = to be assumed b4 the orrower in relation
to the 2acilit4 under the <oan /erms or ,sset-s3, i1 an4, 1urnished b4 the orrower 1or an4 other credit
1acilit4 granted = to be granted b4 I;I;I an!> -iv3 de1ault, i1 an4, committed b4 the orrower in discharge
o1 the a1oresaid obligations, to the ;redit In1ormation ureau -India3 <imited -.;II<03 and an4 other
agenc4 authorised in this behal1 b4 the RI. ;II< and = or an4 other agenc4 so authorised ma4 use
and=or &rocess the a1oresaid in1ormation and data disclosed b4 I;I;I an! in an4 manner as deemed 1it
b4 them. ;II< and = or an4 other agenc4 so authorised ma4 1urnish 1or consideration, the &rocessed
in1ormation and data or &roducts thereo1 &re&ared b4 them, to I;I;I an! = 1inancial institutions and
other credit grantors or registered users, as ma4 be s&eci1ied b4 RI in this behal1. ,ll in1ormation and
data 1urnished b4 the orrower to I;I;I an! 1rom time to time shall be true and correct.D(. I;I;I an!
and all its grou& com&anies and their agents are authoriCed to e6change, share or &art with all the
in1ormation relating to its loan details and re&a4ment histor4 to other I;I;I an!, its grou& com&anies,
ban!s, 1inancial institutions, credit bureaus, agencies, statutor4 bodies etc. as ma4 be re8uired or as
the4 ma4 deem 1it and shall not hold I;I;I an! -or an4 o1 its grou& com&anies or its=their agents3 liable
1or use=sharing o1 this in1ormation. D#. In case the orrower commits an4 de1ault in &a4ment or
re&a4ment o1 &rinci&al amount o1 the 2acilit4 or interest=charges due thereon, I;I;I an! and=or the RI
will have an un8uali1ied right to disclose or &ublish the details o1 such de1ault along with the name-s3 o1
the orrower as a de1aulter in such manner and through such media as I;I;I an! and=or RI ma4, in
their absolute discretion, thin! 1it. D2. Ghere an4 o1 the orrower is an individual wor!ing = doing
business as a sole &ro&rietar4 concern, the orrower shall be solel4 res&onsible 1or his liabilities = the
liabilities o1 the a1oresaid concern and will be &ersonall4 liable 1or ma!ing re&a4ment = &a4ments o1 all
amounts in res&ect o1 the 2acilit4 to I;I;I an!.D$. I;I;I an! has the absolute discretion to amend or
11
su&&lement an4 o1 the <oan /erms at an4 time and will endeavour to give &rior notice b4 email or in
news&a&er or &ut u& the same on the website -www.iciciban!.com3 as the case ma4 be wherever
1easible and such amended terms and conditions will thereu&on a&&l4 to and be binding on the
orrower. 2urther, the <oan /erms ma4 also be sub5ect to the changes based on guidelines = directives
issued b4 the RI to ban!s 1rom time to time. D". E&on recei&t 1rom I;I;I an! o1 statement-s3 giving
details o17 -i3 the aggregate outstanding amount in res&ect o1 the 2acilit4 as on the date-s3 stated in such
statement-s3 = the aggregate debit balance -total indebtedness3 in the ,ccount as on the date-s3 stated in
such statement-s3> -ii3 the 1urther a&&licable accrued interest 1rom the a1oresaid date-s3 mentioned in the
a1oresaid statement-s3> -ii3 the 1urther a&&licable accrued interest 1rom the a1oresaid date-s3 mentioned
in the a1oresaid statement-s3> -iii3 ,sset-s3, i1 an4, created 1or securing the 2acilit4 = the amounts stated in
the ,ccount, the orrower shall 1orward its ac!nowledgement o1 the a1oresaid indebtedness s&eci1ied in
the a1oresaid statement-s3, in the 1orm &rescribed b4 I;I;I an!. I1 I;I;I an! does not receive such
ac!nowledgement 1rom the orrower within a &eriod o1 ten -#(3 da4s 1rom the date o1 recei&t o1
statement 1rom I;I;I an!, the orrower shall be deemed to have con1irmed the correctness o1 the
entries in such statement-s3 and ac!nowledged the indebtedness 1or the balance mentioned in the
statement-s3. Non-recei&t b4 the orrower o1 statements &ertaining to the ,ccount or the incorrectness
o1 an4 entr4 therein shall be brought to the notice o1 I;I;I an! b4 the tenth da4 o1 ever4 month or on
recei&t o1 such statement, as the case ma4 be.
Disclaimer7
@I;I;I an! ma4, at its sole discretion, utiliCe the services o1 e6ternal service &rovider=s or agent=s and on
such terms
as re8uired or necessar4, in relation to its &roducts=services."

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