Date : 03-04-2019

Dear M SWORNAMEENA
N0 72 A BAJANAI KOIL STREET THIRUVALLUR ,NAGAR PAMMAL KANCHEEPURAM
,Pammal PIN: 600075 ,CHENNAI ,TAMIL NADU

Ref: Loan Agreement No 4678378

We welcome you to the L&T Finance family & thank you for choosing us as your preferred partner in growth.

We are a part of the Larsen & Toubro (L&T) group, an engineering and construction giant with operations spread across the globe.
We share the core values of our parent company - Integrity, Reliability and Transparency. Under L&T Finance brand our product
offerings includes Personal Vehicle Loans, Commercial Vehicle Loans, Construction Equipment Loans, Home Loans, Business &
Corporate Loans, Rural Loans & Microfinance.

Please refer the Repayment Schedule attached along for your repayment details. We expect you to strictly honour the financial
commitments as per the terms of the Loan Agreement. Please find your loan & asset details below:

Asset Description 5G STD Total Installments 18

Asset Cost 67472.00 Agreement Date 04/02/2019

Amount Finance 54500.00 Advance EMI N

Tenure (In Months) 18 Repayment Mode PDC

Important Points:

• Please notify us in case of any change in your contact details through the local branch or through the Call
Center (1800-209-4747)
• Please mention your Loan Agreement no. stated above for all future correspondence with us
• Always insist on a receipt for all your payments
• Contents of this letter will be considered correct if no error is reported within 21 days of statement date.
• Register your asset (as applicable) with local RTO and submit the registration certificate copy and the
copy of insurance policy at branch within 30 days from the date of disbursement.
• Please ensure that all your balance PDCs are submitted at branch within 30 days from the date of
disbursement (only for customers who opted for PDC pay mode)

My team and I look forward to serving you and assure you of our best service always.

Yours Sincerely,

Vinod Lalwani
(Head - Operations)

Encl: Repayment Schedule

L&T Finance Limited Registered Office

(erstwhile known as Family Credit Ltd.) 7th Floor, Technopolis, A-Wing,
Brindavan, CST Road, Kalina Plot No 4, Block-BP, Sector-V
Santacruz (East) Salt Lake, Kolkata 700 091 T +1800 209 4747
Mumbai 400 098 CIN: U65910WB1993FLC060810 E customercare@ltfinance.com www.ltfinance.com

*L&T Finance Limited & L&T FinCorp Limited have merged into Family Credit Limited. The name of Family Credit Limited is changed to L&T Finance Limited.
 Repayment Options
Now you can choose your preferred mode of repayment from the following options;

• Through ECS (Electronic Clearance Service) / DD (Direct Debit) - Hassle free, automated &
transparent mode for easy repayment
• Through Post Dated Cheques (PDC) drawn in favor of L&T Finance Limited
Note: Please request for Mandate Form from the Call Center (1800 209 4747) to convert from PDC to
ECS / DD mode of repayment

Points to Remember: *Charges & Fees:

• Prepayment charges are levied @5% on
• Always confirm the mandate outstanding principal plus Service tax as
registration with bank when opting applicable
for an ECS / DD Registration • Cheque/ ECS dishonor charges are levied at
• Always ensure sufficient account RS.350 per Installment
balance one working day prior • Overdue charges are levied @ 3% PM
to your installment date • Cheque swap charges are levied @ Rs.500 per
request,

*The Company reserves the right of revising the above schedule of

interest, fees & charges at its sole discretion

Contact Points:
You can contact us through multiple channels,
• T oll Free number 1800 209 4747
a. For Information on all our products & services
b. Raise service requests like Statement of Accounts, Foreclosure request, NOC request
c. Raise complaints / grievances
• Visit our nearest branch
• Visit us online at www.ltfinance.com

Grievance Escalation:
Please refer to:
Grievance Redressal Officer- Mr. Raman G. Pattabi,
L&T Finance, KGN Towers, 05th floor, No. 62 Ethiraj Salai, (Commander-in-Chief Road), Egmore, Chennai - 600 105
E-mail: GRO@ltfinance.com
Phone: 044 66881107

*L&T Finance Limited & L&T FinCorp Limited have been merged into Family Credit Limited.The name of Family Credit Limited is changed to L&T Finance Limited.
Repayment Schedule:
Ins.Num Due Date Opening Balance (Rs.) Inst Amount (Rs.) Principal Amount (Rs.) Interest Amount (Rs.) Closing Balance (Rs.)
1 03/05/2019 63,918.00 3,551.00 2,605.62 945.38 60,367.00

2 03/06/2019 60,367.00 3,551.00 2,650.82 900.18 56,816.00

3 03/07/2019 56,816.00 3,551.00 2,696.80 854.20 53,265.00

4 03/08/2019 53,265.00 3,551.00 2,743.58 807.42 49,714.00

5 03/09/2019 49,714.00 3,551.00 2,791.17 759.83 46,163.00

6 03/10/2019 46,163.00 3,551.00 2,839.59 711.41 42,612.00

7 03/11/2019 42,612.00 3,551.00 2,888.85 662.15 39,061.00

8 03/12/2019 39,061.00 3,551.00 2,938.96 612.04 35,510.00

9 03/01/2020 35,510.00 3,551.00 2,989.94 561.06 31,959.00

10 03/02/2020 31,959.00 3,551.00 3,041.80 509.20 28,408.00

11 03/03/2020 28,408.00 3,551.00 3,094.57 456.43 24,857.00

12 03/04/2020 24,857.00 3,551.00 3,148.25 402.75 21,306.00

13 03/05/2020 21,306.00 3,551.00 3,202.86 348.14 17,755.00

14 03/06/2020 17,755.00 3,551.00 3,258.42 292.58 14,204.00

15 03/07/2020 14,204.00 3,551.00 3,314.94 236.06 10,653.00

16 03/08/2020 10,653.00 3,551.00 3,372.44 178.56 7,102.00

17 03/09/2020 7,102.00 3,551.00 3,430.94 120.06 3,551.00

18 03/10/2020 3,551.00 3,551.00 3,490.45 60.55 0.00

* L&T Finance Limited & L&T FinCorp Limited have been merged into Family Credit Limited. The name of Family Credit Limited is changed to L&T Finance Limited.
 LOAN AGREEMENT

THIS AGREEMENT is made and/or executed at Kolkata on the date as mentioned in item no. 2 of the Schedule hereunder written
BETWEEN
1. The Borrower / Co-Borrower, the details whereof are stated in item no. 1of the Schedule hereunder written, of the FIRST PART
AND
2 The Guarantor, the details whereof are stated in item no. of the Schedule hereunder written, of the SECOND PART.
AND
3 L&T Finance Limited a Company incorporated under the Companies Act, 1956 and having its registered office at “Technopolis" 7th Floor,
Wing-A, Plot #4, Block BP, Sector-V, Salt Lake, Kolkata-700 091, hereinafter called "the Company" (which term shall, unless excluded by or
repugnant to the subject or context, be deemed to mean and include its successors and assigns) of the THIRD PART:
WHEREAS:
A. The Company is engaged, inter alia, in the business of financing of Vehicles and other Assets.
B. The Borrower's has applied to the Company for obtaining finance/loan to purchase a Vehicle/ Asset fully described in the Schedule
hereunder written and hereinafter referred to as the "said Vehicle /Asset" (which term shall be deemed to include all replacements thereto
and additions and renewals thereof).
C. The Company has agreed to grant a loan tote Borrower's for the purchase of the said Vehicle/Asset on the condition that the repayment of
the said amount togetherwith interest and charges accrued thereon shall be secured by hypothecation of the said Vehicle/ Asset with all
fittings and accessories subject to such terms and conditions as herein contained.
D. The Guarantor has agreed to stand as a Guarantor guaranteeing due performance of all the duties and obligations of the Borrower covered
under time presents and particularly, guaranteeing timely payment of all the installments towards repayment of the loan amount
togetherwith interest accrued thereon and other charges, as are payable to the Company under this agreement.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED AS FOLLOWS :
Article 1 - Definitions
1.1 "Agreement', "Documents", "Collateral Documents" means and includes this Agreement for Loan Facility, the attachments and Schedule or
Schedules annexed hereto and such other documents
incidental hereto and /or contemplated hereby on which the Company has relied upon to extend this Loan Facility to the Borrower's.
"Agreement" shall also include supplementary agreements, modifications, alterations, addenda, attachments and schedules executed / to be
executed between the parties during the tenure of this Agreement.
1.2 "Borrower" shall mean and include the person, whose details are provided in item no.1 of the Schedule written hereunder as well as his
heirs , successors, administrators, legal representatives, executors and/or assigns unless excluded by or repugnant to the subject or context.
1.2.1 "Guarantor" shall mean and include the person, whose details are provided in item no._1 of the Schedule written hereunder as well as
his heirs , successors, administrators, legal representatives,executors and/or assigns unless excluded by or repugnant to the subject or context.

1.3 "Fees and Charges" shall include processing fees, service charges, pre-payment charges, cheque bouncing charges/late payment charges,
overdue interest, swap charges etc. and other charges as applicable to the Loan facility from time to time and specified in the Schedule.
1.4 "Instalment /Instalments" means the monthly payment(s) to be paid by the Borrower/s jointly and severally, for repayment of the Loan
Facility along with interest and other charges as per the repayment schedule set out in the Schedule hereto.
1.5 "Loan Facility" means the principal loan amount as set out in the Schedule.
1.6 "Postdated Cheques" hereinafter referred to as "P DCs" mean the cheques drawn by the Borrower's or any of them in favour of the
Company for payment of the Instalments.
1.7 "Electronic Clearing System" hereinafter referred to as "ECS" means the direct debit of the Borrower's account from his bank account
towards the installment.
1.8 "Vehicle/Asset" means the Vehicle(s) /Asset(s) in respect of which the Loan Facility is made available by the Company, particulars whereof
would appear from the Schedule hereunder written,including the accessories and add-ons thereto such as music system, air conditioner, air
cooler, fans, tools, insurance, warranties, on road assistance etc. and all of which is hypothecated in favour of the Company as security for the
repayment of the Loan Facility.

Article 2 - Loan, Interest and Repayment

2.1 The Company grants to the Borrower/s upon the terms and subject to the conditions mentioned in this Agreement, a Loan Facility for the
aggregate amount and for the tenure as set out in the Schedule hereunder written, through its Lending Office.
2.2 The Loan Facility shall be utilised solely and exclusively for purchase/acquisition of the Vehicle/ Asset.
2.3 Prior to receiving the Loan Facility, the Borrower/s shall provide the Company with documents evidencing payment of his/their own
contribution towards buying the Vehicle/Asset, if any, to the satisfaction of the company .
2.4 The Company shall have the sole and absolute discretion to determine the manner of disbursement, which shall be deemed to be
disbursement to the Borrower/s as contemplated under this agreement.In the case of purchase of new Vehicle/Asset, the loan amount may,

___________________________ ________________________ _________________________

Borrower Co-borrower Gaurantor
at the option of the Company, be disbursed by the Company directly to the Dealer/ Manufacturer and such disbursement shall be deemed to
be disbursement to the Borrower/s. In case of purchase of used Vehicle/ Asset, the Company shall determine the manner of disbursement i.e.
either to the seller/owner of the Vehicle/Asset or to the DSA of the Company or to the Borrower's and such disbursement shall be deemed to
be the disbursement to the Borrower/s as contemplated under this agreement for all purposes.
2.5 The Borrower's shall pay tote Company interest on the loan at the rate specified in the Schedule hereto which may vary as per the money
market conditions along with monthly installments. The mode of repayment of the loan alongwith interest and other charges shall be as
specified in the Schedule (time being the essence of the contract). The Borrower's confirms having perused, understood and agreed to such
mode/ method of calculating the interest / Instalments. The mode of repayment of the loan will be either P DC's, or Electronic Clearing System
(ECS), as may be agreed by the Company. The payment of Instalments shall commence and continue as per the Schedule hereunder written
irrespective of the Vehicle /Asset being delivered to the Borrower's by the Dealer/ Manufacturer and notwithstanding anything including any
difficulties that the Borrower's may have with or against the Dealer/ Manufacturer or in respect of the delivery of the Vehicle/Asset or in
respect of the Vehicle/ Asset itself.
2.6.1 The Borrower's has delivered to the Company the P DCs, / Electronic Clearing System (ECS) instructions towards the Instalments, other
fees, dues and charges payable hereunder being fully cognizant of the fact that dishonour of cheques or revocation of Electronic Clearing
System (ECS) instructions b a criminal offence under the law and shall be punishable, inter alia, under the provisions of the Negotiable
Instruments Act, 1881 or The Payment and Settlement Systems Act, as the case maybe. It is clearly understood that such P DC's have been
issued and the ECS's instructions have been given in discharge of the existing liability of the Borrower's to repay the Loan Facility together with
interest and other charges accrued thereon. The Borrower/s has irrevocably and unconditionally authorized and instructed the Company
through Electronic Clearing System (ECS) to debit the Borrower's account with the Company towards the EMI's. The Borrower's further
warrants that he shall maintain sufficient balance in the said account and shall not stop payment or do anything whereby the cheques/ ECS
shall not be honoured on first presentation. The Company may in its discretion not present the PDCs or any of them, which shall not affect the
Borrower's
2.6.2 Notwithstanding as hereinabove contained and without prejudice to the rights and contention of the company it is hereby recorded that
this agreement and all its relevant/connected documents/writings /instruments shall be preserved by the company for a period of 3 years
from the date of expiry of this agreement or after earlier termination and upon expiry or earlier termination the same shall be destroyed
without assigning any reasons in any manner whatsoever.
2.7 Obligation to make timely payment of the Instalments. The Borrower's agrees that the Company may at its sole and absolute discretion
swap the mode of payment of the loan at any time during the subsistence of this agreement and in that event the Borrower's shall be under a
strict obligation to abide by and act in strict compliance of such new mode/method of repayment without raising any demur or objection
under any circumstances or for any reason.
2.8 The Borrower's may prepay the whole or any part of the outstanding Loan (along with interest, fees and pre— payment charges (herein
mentioned in the schedule) by giving a prior notice of 30 days in writing to that effect expressing his intention to prepay the outstanding
amount subject to payment of interest for 6 months on the total outstanding amount, if the entire loan is paid within 6 months from the date
of disbursement.
2.9 The Company may at its absolute discretion on receipt of an Installment, pay insurance premia or part thereof or any few or charges
payable by the Borrower's under this Agreement / Schedule of Charges and Interest without adjusting the amount received towards the dues
in respect of that Installment.
2.10 The Borrower's shall not give any instructions to the Company not to deposit the PDCs or revoke the Electronic Clearing System (ECS)
instructions given by him. In case of dishonor of cheques or any other instruments issued by the Borrower's or revocation of the ECS
instructions or if under the ECS mode the Company has not received the monies equivalent to the installment, the Borrower/ s agree and
undertake that they are liable to pay the installment alongwith cheque bounce charges and late payment charges as stated in the schedule to
the agreement and shall also be liable to reimburse the Company costs and expenses, including legal fees. Nothing contained in this clause
shall prejudice the Company's right to prosecute under the provisions of the Negotiable Instruments Act, 1881 or The Payment and Settlement
Systems Act, as the case may be, read with the Indian Penal Code and/or under any law applicable to such dishonour at that time in force. The
Company shall not issue any notice, reminder or intimation to the Borrower's regarding the presentation of the aforesaid cheques, ECS as the
case maybe. In the event of any delay by the Borrower/s in payment of any dues under this agreement whether by way of repayment of loan,
payment of interest or other charges payable hereunder, the Company shall be entitled to charge overdue interest on the amount in arrears,
from the due date of such payment till the date of realization of payment as the case maybe, at the rate specified in the Schedule hereunder.
2.11 Both the Borrower/s, if there be more than one, shall be jointly and severally liable for repayment of the Loan Facility and all other rates
charges and outstandings due to the Company and to observe and perform all the terms and conditions contained hereunder,
notwithstanding that the Vehicle/asset may be used by one of them or that the PDCs have been issued by one.
Article 3 - Security
3.1 In consideration of the Company having granted or agreed to grant to the Borrower's the Loan Facility subject to the terms and conditions
mentioned in this Agreement, the Borrower's hereby hypothecate to and charges in favour of the Company by way of first and exclusive
charge, the Vehicle/Asset and agrees, in the case of Vehicle(s), to have the hypothecation in the Company's favour endorsed on the
registration certificate from the concerned registering authority The Borrower's confirms that the Vehicle/ Asset tames no prior lien and is free

___________________________ ________________________ _________________________

Borrower Co-borrower Gaurantor
from any encumbrances. Provided that if the Vehicle (to be acquired) has not been delivered to and/or registered in the name of the
Borrower's at the time of signing of this Agreement, the particulars of the Vehicle shall be informed by the Borrower's within two days of such
delivery and/or registration, whereupon such details shall be incorporated in and form part of the Schedule and failure to so inform the
Company shall constitute an Event of Default.
3.2 The hypothecation of the Vehicle(s) /Asset shall deem to take place immediately on signing of this agreement or delivery of the Vehicle(s)/
Asset whichever is earlier. The Company shall not be responsible for delivery of duly endorsed Registration Certificate and that Borrower's
shall not withhold payment of instalments on the pretext of non— delivery of Registration Certificate.
3.3 The charge created by the Borrower's in Clause 3.1 shall stand as security for the due repayment and payment by the Borrower's of the
Loan Facility granted or to be granted to the Borrower's by the Company and of all fees and interest, costs and expenses incurred or to be
incurred by the Company hereunder and all other monies payable or which becomes payable by the Borrower's to the Company pursuant to
the terms hereof. The charge/securities created by the Borrower's under this Agreement shall continue and remain in full force till such time
all the dues under this Agreement and also in respect of other loans /facilities obtained /to be obtained by the Borrower's from the Company
are fully discharged to the satisfaction of the Company and the Company issues a certificate of discharge. Neither the security created under
this Agreement nor the liability of the Borrower's shall be affected, impaired or discharged by winding up (voluntary or otherwise) or by any
merger or amalgamation, reconstruction, take over of the management, dissolution or nationalisation (as the case maybe) of the Company.
3.4 The Borrower/s undertakes to execute /furnish irrevocable and unconditional Power of Attorney(s) in favour of the Company inter alia
authorising it to transfer, sell, dispose of the Vehicle(s)/Asset(s) in the Event of Default. The Borrower's agrees that the Power of Attorney and
other documents and writings executed by the Borrower's shall be irrevocable and shall not be revoked by the death, dissolution or winding
up of the Borrower's and the Company may, notwithstanding the death, dissolution or winding up of the Borrower's, take possession of and
sell the Vehicle /Asset and/or cause the Vehicle(s) /Asset to be transferred and/or otherwise act pursuant to the said Power of Attorney, and
the other documents and writings executed by the Borrower's.
Article 4 Covenants regarding Vehicle / Asset
4.1 If the price of the Hypothecated Vehicle/ Asset (in case of acquiring a new Vehicle /Asset) is revised upwards after the date of this
Agreement, then and in that event the Borrower's shall pay all
of the amount (in addition to the amount paid or to be paid by him along with the loan as the price of the Hypothecated Vehicle/Asset) that
may be required for acquiring the Hypothecated Vehicle /Asset at such revised price and the Company shall not be liable to pay any amount
by way of loan or otherwise for such revision in price of the Hypothecated Vehicle /Asset.
4.2 The Borrower/s shall -
4.2.1 Pay within time all assessments, taxes and other outgoings, which are now or hereafter assessed, imposed or payable for the
Hypothecated Vehicle/Asset to the Government, Municipal Corporation, Regional Transport Authority or other authority and on demand
produce to the Company every receipt thereof.
4.2.2 Allow inspection of the Hypothecated Vehicle /Asset and all documents relating thereto for verification thereof or making valuation by
(a) the Company or (b) its officers, auditors, technical experts, management consultants, valuers or any other persons authorized for the
purpose by the Company, whenever and wherever the company shall intend to so inspect. Failure to do so shall amount to breach of trust and
consequently an Event of Default under this Agreement.
4.2.3 Not sell or create any other debt or any mortgage, pledge, hypothecation, charge, lien or encumbrance upon or in respect of the Vehicle
/Asset or any part thereof in any manner whatsoever in favour of any person, firm or company or bank till such time any amount whatsoever
remains payable by the Borrower's to the Company in respect of the loan facility covered under time presents or in respect of any other loan
and/or financial facility obtained and/or availed by Borrower's from the Company or on any other account whatsoever. The Borrower's will not
part with the possession, give on hire, lease, leave and license or conducting arrangement or otherwise deal with the Vehicle /Asset or any
part thereof without prior written permission from the Company and will not do or permit/clause, to be done any act, deed, matter or thing,
which may adversely affect or in any way prejudice the security created in favour of the Company.
4.2.4 Submit to the company a true copy of the registration certificate with fact of hypothecation duly endorsed on it, within 30 days of having
taken delivery of the hypothecated vehicle / Asset or 60 days from the date of disbursal of the Loan Facility, whichever is earlier.
4.2.5 On demand being made by the Company or without demand upon occurrence of any of the Events of Default mentioned under this
Agreement -
4.2.5.1 Give immediate actual possession to the Company, its nominees or agent (as the case may be) of the Hypothecated Vehicle/Asset
subject to the terms contained herein.
4.2.5.2 Transfer, deliver and endorse all registration, policies, certificates and documents relating to the Hypothecated Vehicle I Asset to
the Company, its nominees or agents (as the case may be).
4.2.5.3 Submit to the Company, the original copy of invoice(s), original copy of delivery challans, money receipts from the suppliers of the said
Vehicle/Asset and other related documents immediately, not later than 1 month from the date of disbursement by the Company:
Article 5 - Borrower/s Covenants
5.1 That notwithstanding anything contained herein, the Company may in its absolute discretion and without assigning any reason at anytime
not disburse the loan or any part thereof and the company shall not be responsible or liable for any cost, loss, damage or expenses or other
consequence caused by reason of such non disbursement.

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Borrower Co-borrower Gaurantor
5.2 The Borrower's confirms that the Hypothecated Vehicle/Asset price has been arrived at after taking into account all relevant taxes, duties
and levies applicable as on the date of this Agreement. The Borrower's agrees that the Instalments shall be increased by any fresh imposition
or increase in the Hypothecated Vehicle/ Asset price, taxes, duties, levies and charges during the subsistence of this Agreement or that are or
may be levied on the Instalments or the transaction hereunder or that are or may become payable by the Company by virtue of entering into
this Agreement. In the event of such taxes, duties, levies and charges increasing during the period of the placing of the order or the
Hypothecated Vehicle /Asset and its acceptance and eventual delivery to the Borrower's, such increases shall be borne and paid by the
Borrower's.
5.3 With regard to the Vehicle/ Asset (including second hand vehicle) the Borrower's acknowledges
5.3.1 that the Vehicle/ Asset is of size, design, capacity and manufacture selected by the Borrower's.
5.3.2 that the Company is not the manufacturer or supplier of the Vehicle/Asset nor a Dealer in such Vehicle/Asset, the Borrower's has
inspected and selected the Vehicle/ Asset, the Borrower/s has signed this agreement relying entirely on the Borrower's own judgment and not
on any statements made by the Company or the agents or the servants of the Company.
5.3.3 that the vehicle/Asset is accepted by the Borrower’s in the condition it is (with all faults and defects, if any) and delivery shall be
conclusive evidence that the vehicle / Asset is / are acceptable to the Borrower's.
5.3.4 That the Company is not in a position to make and has not made and does not hereby make any representation or warranty with respect
to the merchantability, fitness,condition, quality, durability, suitability, use or operation of the Vehicle/Asset in any respect.
5.4 Delivery, specification and condition-The Borrower's shall be exclusively responsible for obtaining delivery of the said Hypothecated
Vehicle/Asset from its manufacturer /dealer/vendor. The Company shall not be liable for any delay in delivery, disbursement, demurrage or
complaints about specifications, condition or fitness of the said Hypothecated Vehicle /Asset or if there is a defect or dispute of any nature in
the title (even if the Hypothecated Vehicle/ Asset is found to be a stolen Vehicle /Asset) or ownership of the Hypothecated Vehicle /Asset.
5.5 Alterations and additions - Not make any major alteration and/or addition to the said Hypothecated Vehicle/Asset without Oar written
consent of the Company. In any event all alterations and/or additions and any gadgets and accessories etc. therein shall form an integral and
unseverable part of the said Hypothecated Vehicle /Asset at the time of repossession of the said Hypothecated Vehicle/Asset under this
Agreement.
5.6 Maintenance - The &bower's agrees to maintain the Hypothecated Vehicle /Asset in good and marketable condition at his own expense
and to replace on time all parts whether broken or damaged,as is the normal practice forte maintenance of any Hypothecated Vehicle/Asset
and to engage mechanics and use dealers and service facilities authorised by the manufacturer of the Hypothecated
Vehicle /Asset to effect repairs and service the Hypothecated Vehicle /Asset. The Borrower's shall also ensure that the Hypothecated
Vehicle/Asset is not damaged, stolen or a priority quota Vehicle.
5.7 Not to use for illegal purposes etc. - Not to use the said Hypothecated Vehicle/ Asset either by himself or through his servants or agents for
any unlawful purpose or purposes or prohibited under the terms and conditions of the insurance policy or under provisions of law or as
indicated in the Schedule hereunder and not to do or permit to be done any act, deed or thing which might render the insurance void or
voidable or by which the ownership or custody of the said Hypothecated Vehicle/ Asset is or may in any way be jeopardised.
5.8 The Borrower's shall ensure that there is no police complaint or any other case/dispute with respect to the Hypothecated Vehicle/ Asset.
In the case of financing of Second hand Vehicles by the Company, the Borrower's shall ensure that proper valuation of such Vehicle has been
done by the approved valuer of the Company. All fees and charges in respect of such valuation shall be payable by the Borrower/s. The
Borrower's shall also ensure that such Second hand Vehicle is being purchased on an "as is where is" basis and no dispute will be raised as
regards the price and the source of pricing on which the Vehicle is being purchased.
5.9 5.9.1 The Company shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on
the balances lying in any loan account(s) of the Borrower/ s , whether in single name or joint names) and on any monies, securities, bonds and
all other assets, documents and properties held by/ under the cant)l of the Company (whether by way of security or otherwise pursuant to any
contract entered/to be entered into by the Borrower/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of
any loan(s) extended to and/ or used by the Borrower's and/or as a result of any other f ad lilies that may be granted to the Borrower's. The
Company is entitled without any notice to the Borrower's to settle any indebtedness whatsoever owed to it by the Borrower/s, (whether
actual or contingent, or whether primal)/ or collateral, or whether joint and/or several) hereunder or under any other document/ agreement,
by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any loan account(s) of the Borrower's. The
Company's rights hereunder shall not be affected by the Borrower's' bankruptcy, death or winding-up. It shall be the Borrower's' sole
responsibility and liability to settle all disputes/ objections with any such joint loan account holders.
5.9.2 In addition tote above mentioned right or any other right which the Company may at anytime be entitled whether by operation of law,
contract or otherwise, the Borrower authorises the Company: (a) to combine or consolidate at any time all or any of his/her loan accounts and
liabilities with the Company(b) to sell any of the Borrower's' securities or properties held by the Company by way of public or private sale
without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived therefrom the total amounts
outstanding to the Company from the Borrower's, including costs and expenses in connection with such sale.
5.10 That any statement of account furnished by the Company shall be accepted by and be binding on the Borrower/s and shall be conclusive
proof of the correctness of the amounts mentioned therein.
Article 6 - General covenants and undertakings

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Borrower Co-borrower Gaurantor
6.1 The &bower's or if any one of them is a body corporate, represent that he/they is/are fully competent to borrower Loan Facility and the
borrowing and the execution of the Agreement and accompanyingdocuments is in consonance with the provisions of the Companies Act,
1956, its Memorandum and Articles of Association and that there is no statutory or legal bar upon such borrowing.6.2 The Borrower's
represent that -
6.2.1 He shall get the Vehicle (incase of new Vehicle) registered with the appropriate registering authority under the Motor Vehicles Act, 1988.
6.2.2 He has obtained and done and shall do all that is necessary to give full force and effect to all authorizations, approvals, consents, licenses
and permissions required in or by the laws of India in relation to this Agreement, Documents, Collateral Documents and the Hypothecated
Vehicle/ Asset.
6.2.3 He holds the Hypothecated Vehicle/Asset in trust for the Company and any transfer of the Hypothecated Vehicle/Asset directly or
indirectly by him without the permission of the Company, shall amount to an Event of Default and also criminal breach of trust.
6.2.4 He shall use the Hypothecated Vehicle/ Asset only for personal use or otherwise as mentioned at the end of this Agreement.
6.2.5 He shall inform the Company in writing of any damages to or theft of the Hypothecated Vehicle/ Asset, lodging of any claim whatsoever
with any Insurance Company in respect of the Hypothecated Vehicle /Asset within 3 working days of such damage or theft or lodgment of
claim whichever is earlier.
6.2.6 He shall inform the Company of any loss, destruction or misplacement of the Registration Book of the Hypothecated Vehicle or the
Insurance Policy relating to the Hypothecated Vehicle within 3 working days of such loss, destruction or misplacement.
6.2.7 He shall not apply for any duplicate Registration Book for the Hypothecated Vehicle otherwise than by delivering the application
therefore to the Company for endorsing its charge on the Hypothecated Vehicle or transfer the registration of the Hypothecated Vehicle to
any city or town other than the city of registration without the written consent of the Company.
6.3 The repayment of the said loan shall also be secured by the delivery to the Company of a Demand Promissory Note to be executed by the
Borrower's for the i.e. Loan Facility together with interest in terms of the Schedule hereunder. The said Demand Promissory Note shall after
full payment of all moneys due to the Company be returned to the Borrower/s.
6.4 The Borrower's agrees and declares that the PDC's have been issued by him and/or standing instructions have been given by him, as the
case may be, towards discharge of his liability to repay the Loan Facility together with the interest and charges accrued thereon tote company
as well as to pay to the company all other sums of money payable in terms of this Agreement or other facilities availed by him including
recovery of shortfall remaining due from the Borrower's after adjustment of sale proceeds of the Hypothecated Vehicle/ Asset on repossession
/surrender and the dues of the Company. Any dishonour of any of such cheques issued or standing instructions given by the Borrower at any
point of time for any reason whatsoever shall make and/or render the Borrower liable to face the consequences, as prescribed under the
Negotiable Instruments Act, 1881 or The Payment and Settlement Systems Act, as the case maybe.
6.5 The Borrower's also agrees that in the event of termination of this agreement, for any reason whatsoever before the full and final re-
payment of the loan taken by the Borrower's, the company shall be entitled to retain the PDC's issued by the Borrower's and bank them
towards the recovery of the remaining dues, if the Borrower's has not repaid the dues as per termination notice. Similarly, in the event of
termination of the agreement for any reason whatsoever before the full and final re-payment of the loan taken by the Borrower/s, the
Borrower's shall not be entitled to withdraw any standing instructions given towards repayment of the loan amount till the said ban amount is
fully repaid to the Company together with interest and other charges accrued thereon to the full and final satisfaction of the Company.
6.6 Indemnity -The Borrower/s shall indemnify the Company and shall always keep the Company indemnified, safe and harmless in respect of
any actions, claims, costs, damages, demands, expenses, losses and liabilities made against, suffered or incurred by the Company arising
directly or indirectly from or in connection with -
6.6.1 Any failure by the Borrower's to comply with the provisions of this Agreement and/or;
6.6.2 Any liability including third party liability that may arise out of the possession, operation and use the indemnified Vehicle/ Asset by the
Borrower's or by his/her/ their employees or agents or by any other person whether or not authorised by the Borrower's for use of the said
Hypothecated Vehicle /Asset and incidental to that purpose and/or;
6.6.3 Any claims, losses, demands, actions, costs, expenses and liabilities incurred or suffered by the Company by reason of the
representations and warranties given by the Borrower's being false or untrue in any material respect and/or;
6.6.4 Any claims, losses, demands actions, costs, expenses and liabilities incurred or suffered by the Company by reason of the Hypothecated
Vehicle/Asset not being free from encumbrance and/ or any previous charge.The Borrower/s shall keep the Company intoned of all
development regarding such actions, claims, costs, damages, demands, expenses, losses and liabilities and shall not compromise or otherwise
deal with the same without the mitten consent of by the Company. The Company shall however be under no obligation and/or liability to the
Borrower's to provide any assistance in connection with any such claim against the Borrower's.
6.7 The Borrower's undertakes to do such further acts, deeds, things and execute such further documents as the Company may, in its absolute
discretion, from time to time require or consider necessary to safeguard its interest.
6.8 The obligations of the Borrower's and Guarantor/s herein shall survive the termination and/ or expiration of this agreement.
Article 7 Insurance
7.1 The Borrower's shall at his own expense, so long as monies remain due and payable to the Company on any account whatsoever in
connection with this agreement, insure and keep the Vehicle /Asset comprehensively insured, on an annual basis, and covered under
comprehensive risks including riot, civil commotion, fire, theft, unlimited third party risk and other hazards as stipulated by the Compaq from

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Borrower Co-borrower Gaurantor
time to time, with such Insurance Company as may be required by the Company and make timely payment of all premia in respect of such
insurance and produce and deliver all such policy of insurance, cover note and premium receipts on demand by the Company for its
inspection, verification and records.
7.2 The insurance policy to be taken out hereunder shall be in the name of the Borrower/s in whose name the Hypothecated Vehicle is
registered or in whose name the Asset is taken and the Company shall be described as loss payee under such insurance. In case of a preowned
Vehicle /Asset, if the Borrower's has already taken out an insurance policy, then the Borrower's shall get the name of the Company added in
the insurance policy as sole loss payee, forthwith.
7.3 If the Borrower's fails to comply with any of the terms mentioned above, the Company may (without being obliged to do and without
prejudice to its other rights under this Agreement) take such steps as it may deem fit to insure or renew the insurance of the Hypothecated
Vehicle and all costs, charges and expenses in this regard shall be reimbursed by the Borrower's on demand to the Company.
7.4 The Company at its option shall be entitled to adjust, settle or compromise in any manner whatsoever at the cost of the Borrower's any
and all disputes arising under or in connection with any such policy of insurance and such adjustment, settlement and compromise shall be
valid and binding on the Borrower's.
7.5 Any claims settled by the Insurance Company shall be payable only to the Company and the Company shall have the first right on such
claim payable by the Insurance Company. The Borrower/s agrees that payment on account of insurance by the Insurance Company shall be
made directly to the Company and acceptance of such payment byte Company will amount to valid discharge of the Insurance Company from
making such payment. All such monies received from the Insurance Company shall be appropriated by the Company towards the obligation of
the Borrower's to the Company.
7.6 The company is not liable for any losses on account of non-renewal of insurance of the hypothecated vehicle / Asset and/or delay and/or
non-payment by the insurance company of any settlement claim of the Borrower/s.
Article 8 Events of Default
8.1 The occurrence of any or all of the following shall constitute an "Event of Default ":
8.1.1 The Borrower's fails to pay in time any of the Instalments herein reserved or any other sum of money payable hereunder;
8.1.2 Default/Breach by the Borrower's in performance of any of his obligations under this Agreement;
8.1.3 Misrepresentation, misleading, incorrect information or suppression of material records/facts by the Borrower's in respect of his assets,
liabilities, financial status etc. or in respect of the
asset/vehicle or in respect of anything concerning the subject matter of this easement or relating to this agreement;
8.1.4 The Borrower's (in case of being a corporate or partnership firm) takes any action or other steps are taken or legal proceedings are
started for winding up, dissolution or reorganisation or
for the appointment of a receiver, commissioner, liquidator, trustee or similar officer on the assets of the Borrower's particularly on the
Hypothecated Vehicle / Asset;
8.1.5 The Borrower's (in case being an individual) takes any steps with a view to his being made insolvent in any jurisdiction or with a view to
the appointment of a receiver, trustee or similar officer
on any of his assets.
8.1.6 The Borrower's fails to comprehensively insure and keep the Hypothecated Vehicle /Asset insured with hypothecation of the Company;
8.1.7 The Hypothecated Vehicle /Asset is confiscated, attached, taken into custody by any authority or subject to any execution proceeding;
8.1.8 The Hypothecated Vehicle /Asset is badly damaged due to accident or any other reason whatever causing the same to be a total loss in
the opinion of the Company;
8.1.9 The Borrower's remove the said Vehicle to any other state, i.e. all states other than the state in which the said Vehicle is registered under
the Motor Vehicles Act without prior consent of the Company
8.1.10 The Borrower/s fails to pay any tax, impost, premia, duty or other imposition or comply with any other formalities required by law from
time to time in respect of the Hypothecated Vehicle/Asset;
8.1.11 The Borrower's uses the Hypothecated Vehicle / Asset for purposes other than mentioned in Clause 6.2.5;
8.1.12 The Hypothecated Vehicle /Asset is stolen or untraceable fora period of 30 days for any reason whatever;
8.1.13 Any of the PDCs /Cheques/ ECS instructions delivered/to be delivered by the Borrower's to the Company are not encashed for any
reason whatsoever on first presentation;
8.1.14 Any instruction given by the Borrower's to his bankers or to the Company to stop payment of the PDCs or any instruction revoked
incase of ECS for any reason whatsoever;
8.1.15 The Borrower's fails to get the Vehicle registered with the registering authority within 45 days of delivery or fails to supply a copy of the
registration certificate with hypothecation of the Company endorsed thereon within such time as specified under this Agreement or as
required by the Company;
8.1.16 If, without prior approval of the Company, the Hypothecated Vehicle /Asset and/or other securities provided under this Agreement are
sold, transferred, disposed off, charged, encumbered, alienated etc.
8.1.17 The Borrower/s employees/utilizes the loan facility for any purpose other than the purpose mentioned in clause 22 above.
8.1.18 Any other circumstance arises which gives reasonable grounds in the opinion of the Company that it is likely to prejudice or endanger
the Vehicle /Asset or the interest of the Company. Then in any such case at anytime thereafter, without prejudice to the rights and remedies

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Borrower Co-borrower Gaurantor
of the Company, the Company may ( but shall not be bound to do so ), without the specific intervention of a court or any court order, by
written notices to the borrower and declare the loan to be immediately due and payable, whereupon the same shall become payable together
with accrued interest thereon and any other sums then owned byte borrower herein. On the question whether any of the above events/
circumstances has/have occurred/happened, the decision of the Company shall be final, conclusive and binding on the borrower.
8.1.19 Notwithstanding anything contained either in these presents or anywhere else, it is hereby being unambiguously and dearly agreed and
understood by and between the parties hereto that in the event the Borrower's fails/fail to make repayment of any other loan and/or financial
facility obtained from the Company apart from the loan facility defined under douse 1.5 hereinabove in strict compliance with the respective
terms and conditions guiding and regulating repayment of such other loan and/or financial facility obtained/availed by the Borrower's, such
failure on the part of the Borrower's shall also be deemed to have constituted an event of default and shall entitle the Company to take all
such measures, which the Company is entitled to take in case of other eventualities forming/constituting an event of default, as stipulated in
the proceeding paragraphs.
Article 9 Enforcement of Security and Consequences of Default
9.1 If the Borrower's fails to perform any of his obligations under this Agreement or any of the Events of Default, as mentioned under this
Agreement, arise (whether demand for repayment is actually made or not) then and in any such case and at any time thereafter, the
Borrower's hereby irrevocably authorizes the Company through its officers, agents, attorneys or nominees (without prejudice to any other
rights under this Agreement) to take any one or more of the following actions, without any intervention by a Court or without obtaining any
prior Court order :
9.1.1 To take charge and/or possession of, seize, recover, receive and/or remove from the possession of the Borrower's the Hypothecated
Vehicle/Asset upon serving a notice in writing in that regard upon the Borrower/s at least 7 days prior to taking such charge and/or possession
and/or seizure and/or recovery and/or removal, as the case maybe. The company, however, would be under no compulsion or obligation
under any circumstances to mention and/or explain in such notice the reason and/or cause behind such taking charge and/or possession of
the Hypothecated Vehicle/Asset or the seizure and/or recovery and/or removal thereof, as the case maybe.
Such taking overcharge and/or possession and/or seizure and/or recovery and/or removal of the Hypothecated Vehicle/Asset would be done
solely at the costs, expenses and/or risks of the Borrower/s.
Notwithstanding anything contained in this agreement or elsewhere, it is, however, hereby being expressly, unequivocally and unambiguously
agreed and understood by and between the patties hereto that nothing contained herein or anywhere else shall debar or provide the
Company to take charge and/or possession of, seize, recover and/or remove from the possession of the Borrower/s the Hypothecated
Vehicle/Asset without serving any prior notice upon the Borrower's and without any prior intimation to the Borrower's in any manner
whatsoever, in the event the Company is of the opinion or is apprehensive that the Borrower's is desirous and/or willing and/or proceeding to
sell, transfer, alienate and/or dispose of the Hypothecated Vehicle/Asset or any portion thereof or is about to perform or cause to be
performed any act , deed or thing , that may damage the Hypothecated Vehicle/Asset.
At the time of taking over possession of the Hypothecated Vehicle/Asset from the Borrower/s, the Company or its duly authorized
representative will make a list of all items that may be found in the Hypothecated Vehicle/Asset and will present the same to the Borrower's
or whoever may be present on behalf of the Borrower's at the time of such taking over of such possession of the Hypothecated Vehicle/Asset
for confirmation and for indicating any objection relating to preparation of such list. The Borrower's or the person present on his behalf at the
time of taking over such possession of the Hypothecated Vehicle/Asset would also be required to countersign such list prepared by the
authorized representative of the Company and a copy of such list will be supplied to him free of cost. However, in the event, the borrower's or
the person present on his behalf at the material point of time refuses or declines to put his signature on the list upon being so requested, the
Company would be under no compulsion or obligation to furnish a copy of such list to the Borrower/s at any subsequent point of time, nor the
same would render taking over of possession of the Hypothecated Vehicle/Asset by the Company unlawful or illegal.
9.1.2 To sell, transfer, alienate and/or dispose of and/or assign the Hypothecated Vehicle/Asset and to appropriate the sale proceeds thereof
in protanto satisfaction of the dues lying payable by the Borrower's to the Company arising out of or in connection with this agreement.
Such sale shall be conducted either by public auction or by private treaty or by any other means whatsoever and the mode of such sale of the
Hypothecated Vehicle/Asset shall be determined at the sole and exclusive discretion of the Company and the Borrower's shall never have any
right, title or authority whatsoever either to question or to challenge the mode of such sale of the Hypothecated Vehicle/Asset.
The Company shall be entitled to reimbursement of the costs and expenses borne by the Company in conducting such sale and/or transfer
and/or disposal of the Hypothecated Vehicle/Asset out of the sale proceeds and the balance amount of the sale proceeds shall be credited to
the account of the Borrower's towards repayment of the an facility.
If the sale proceeds are found to be insufficient to meet the dues of the Company lying payable by the Borrower/s, the Borrower's shall remain
liable to pay the deficit amount after appropriation of the sale proceeds. In the event the sale proceeds exceed the due amount lying payable
by the Borrower's to the Company, the surplus amount shall be returned and/or refunded tote Borrower/ s after necessary adjustment.
However, subsequent to taking charge and/or possession of the Hypothecated Vehicle/Asset and priori° taking any measure towards sale,
transfer and/or alienation thereof, the Company shall issue a pre-sale notice upon the Borrower's providing the Borrower's a final opportunity
to repay the due amount within the time, as stipulated in such pre-sale notice.
In the event the Company decides and/or determines lose!! the Hypothecated Vehicle/Asset through public auction, the Borrower's shall be
entitled to participate in such auction proceeding and to submit his offer.

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Borrower Co-borrower Gaurantor
If the offer placed by the Borrower's is found to be the highest one, the Hypothecated Vehicle/Asset shall be sold to the Borrower/s by the
Company at and for the price offered by the Borrower/ s. If the Borrower's submits the highest offer and the price so offered by the
Borrower's is found to be less than the amount lying payable by the Borrower's to the Company, the Borrower's shall be responsible for
making payment of the deficit amount towards repayment of the loan facility.
9.2 In the event the Borrower/s makes payment of the entire outstanding amount to the Company towards its full and final satisfaction
subsequent to taking possession of the Hypothecated Vehicle/ Asset by the Company and prior to its sale, transfer and/or alienation in favour
of any third person or persons or in the event the Borrower's makes the highest offer in the auction proceeding, as contemplated hereinabove,
the Hypothecated Vehicle/Asset shall be returned to the Borrower's by the Company upon receipt of the entire dues or upon receipt of the
amount offered, as the case may be, against a valid acknowledgement from the end of the Borrower/s. Such return of the Hypothecated
Vehicle/Asset, however, shall not preclude or debar the Company from adopting the aforesaid measures once again against the Borrower's in
the event the Borrower's fails to make payment of the balance of the outstanding amount, if any, tote Company within the time prescribed by
the Company.
9.3 Any acceptance of payment by the Company after occurrence of an Event of Default will not affect the default or operate as a waiver
thereof and the rights of the Company flowing/ arising therefrom.
9.4 From the time of occurrence of an Event of Default till such time the said Hypothecated Vehicle/Asset, comes in possession of the
company, the Borrower/s shall pay to the Company, a sum as specified in the Schedule per diem in addition to and not in derogation of any
other sum payable byte Borrower/s to the Company. This is a reasonable pre-estimate of damages likely to be suffered by the Company for
non-recovery of the said Hypothecated Vehicle/ Asset.
9.5 Notwithstanding anything to the contrary expressed or implied:
9.5.1 The Company shall not be bound to exercise any of the powers mentioned in Clause 9.1 or any Collateral Documents.
9.5.2 The Company or its officers, agents or nominees acting bonafide shall not be in any way responsible for any loss, damage, limitation or
depreciation that the Hypothecated Vehicle/Asset may suffer or sustain on any account whatsoever whilst the same is in the possession of the
Company, its officers, agents or nominees or because of exercise or non-exercise of the rights, powers or remedies available to the Company
or its officers, agent or nominees and all such loss, damage or depreciation shall be debited to the account of the Borrower/s, howsoever the
same may have been caused .
9.5.3 Neither the Company nor its agents, officers or nominees shall be in any way be responsible and liable and the Borrower's hereby agrees
not to make the Company or its officers, agents or any nominees liable for any loss, damages, limitation or otherwise for any belongings and
articles that may be kept or lying in the Hypothecated Vehicle /Asset at the time of taking charge and/or possession, seizure of the
Hypothecated Vehicle /Asset pursuant to the terms of Clause 9.1.
9.6 If the company exercises any one or more powers mentioned in clause 9.1, the same shall be without prejudice to the Company's right and
remedies of any suit or any other legal proceeding either pending or that may be initiated against the Borrower/s.
Article 10 Charges and expenses
10.1 In the event of dishonor of any PDC Cheque/ECS instruction provided by the Borrower/s, the Borrower's shall, without prejudice to any
right the Company may have in law, be Fable to pay to the Company for each such dishonour, cheque / ECS dishonour charge as specified in
the Schedule.
10.2 The Borrower's shall from time to time reimburse the Company for all costs and expenses (including legal fees) that may be incurred in or
in connection with the preservation and/or enforcement of any of the rights of the Company under this Agreement.
10.3 The Borrower's acknowledge and accept that the Company may in its discretion from time to time revise/modify the fees and charges
mentioned in the Agreement or in the Schedule hereunder and all such revised fees and charges incl Taxes as applicable shall be payable by
the Borrower/s.
Article 11 Securitisation
11.1 The Borrower/s agrees that the Company shall at all times be entitled to sell, assign, securities or transfer in any manner, in whole or in
part, and on such terms as the Company may decide (including reserving the right unto itself to proceed against the Borrower's on behalf of
such purchaser, assignee or transferee) all its rights and obligations hereunder including any security created by the Borrower's for securing
any of his obligations hereunder (including without limitation, any interest that the Company may have in any underlying assets) to any third
party of the Company's choice, without reference or intimation to the Borrower's, who hereby gives his consent to such sale, assignment,
securitization or transfer. Any notice of sale, assignment, securitization or transfer is hereby waived by the Borrower's and any such sale,
assignment, securitization or transfer shall conclusively bind the Borrower's and the Borrower's shall treat such transferee, assignee or
purchaser as if it were the Company.
11.2 The Borrower's however shall not be directly or indirectly entitled to assign his rights or obligations under this Agreement in part or whole
to any person and any assignment in contravention hereof shall be void.
11.3 The Borrower's agrees that even after any sale, assignment or transfer, the Company may continue to exercise all powers hereunder on
behalf of such transferee / assignee / purchaser and the Borrower/s further agrees —
11.3.1 If so directed by the Company, the Borrower/s shall pay all instalments payable hereunder directly to such
transferee/assignee/purchaser which payment shall be treated as a valid discharge of the relative obligations of the Borrower/s hereunder.
11.3.2 In the event of the Borrower/s being in breach of his obligations hereunder contained, the transferee / assignee/ purchaser shall have

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Borrower Co-borrower Gaurantor
against the Borrower/s rights which the Company has against the Borrower's including the right to institute proceedings to recover possession
and all other rights mentioned in this Agreement.
11.3.3 That such transferee/ assignee/ purchaser shall be entitled to inspection of the Vehicle and all other rights of the Company hereunder.
Article 12 Miscellaneous
12.1 Notices-Any communication /notice/letter/document to be sent by one party to another shall be in English and delivered at the address
specified in this Agreement or at such other address netted in writing to theater party. The communication etc. may be sent by mail, courier,
personal delivery or fax. Where sent by fax, a confirmation copy must also be sent by mail /courier. The communication etc. shall be deemed
to have been received when sent by mail, 3 days after the date of posting or within 2days after despatch by registered post; when personally
delivered, on receipt of the same at the address of the party and when sent by fax, upon receipt of confirmation. Any change in the address for
communication shall be duly notified to the other party within 7 days of such change.
12.2 Amendment – No modification or amendment of this agreement and no waiver of any of the terms or conditions hereof shall be valid or
binding unless made in writing and fully executed and signed by all the parties.
12.3 Commencement -This Agreement shall commence and/or deemed to have commenced from the date of execution of these presents.
12.4 Annexure - The Annexure and Schedule hereto shall form an integral part of this Agreement.
12.5 Singular etc. - Words importing singular shall include plural and vice versa. Similarly, words importing masculine gender shall include
feminine and neuter genders and vice versa.
12.6 Certificate -The certificate signed by the Accounts Manager or person discharging the functions of the Accounts Manager by whatever
name called, of the principal or any branch office of the Company as to the amount due from the Borrower/s under this Agreement on the
date of such certificate shall be prima-facie evidence that the amount so certified was in fact due from the Borrower/son the date of such
certificate.
12.7 Until the ultimate balance owed to the Company by the Borrower/s has been paid or satisfied in full, the Company shall have a lien on all
properties and assets of the Borrower/s from time to time in the possession of the Company and a charge over all stocks, shares and
marketable or other securities from time to time and get any or all of them registered /pledged in the name of the Company or its nominee
whether the same be held for sale, custody or otherwise.
12.8
12.8.1 The Borrower authorises the Company to disclose aforesaid information/documents to RBI, Income Tax Authorities, Credit Bureaus,
Credit Rating Agencies, Third parties, Databanks, Companies Associates/Sister Concern/Group Companies abroad/ Corporates, financial
institutions, banks or any other Govt. or Regulatory Authorities/ Bodies/Department as & when so demanded.
12.8.1.1 The company shall be entitled to exercise this right of disclosure without being required to issue any further notice in this respect to
the borrower.
12.8.1.2 The borrower specifically waivers the privilege of privacy, privity & defamation.
Disclosure:-
12.8.2 In case of the death of the borrower, where the borrower is an individual the legal representative shall do the following:
i) Apply under the motor vehicles act, 1988 to get the vehicle transferred in his name.
ii) Replace the post dated cheques, insurance premium cheques, fees, charges and residual cheques signed by the deceased borrower, in the
same manner as provided in this agreement as if he were the borrower in the first instance.
iii) Execute a fresh agreement, power of attorney and such other documents as required by the company.
Provided that the Company shall be entitled to exercise its sole discretion in determining whether or not to enter into an agreement etc with
the legal representative and subject to further, the legal representative meeting the Company's credit criteria and other requirements from
time to time.
In case the legal representative does not or refuses to follow the above procedure or does not meet with the Company's credit and other
requirements the Company shall be entitled to, at its sole discretion repossess/dispose off/ sell transfer the vehicle to any third party or to any
third party which the Company shall nominate and the short fall on such recovery shall be recovered from the legal representative.
12.8.3 The Borrower/s understand that as a pre-condition, relating to grant of the Loan Facility, the Borrower/s hereby agrees and gives
consent for the disclosure by the Company of all or any such:
12. 8.3.1 Information and data relating to the Borrower/s.
12. 8.3.2 The information or data relating to any credit facility availed of /to be availed, by the Borrower/s.
12. 8.3.3 Default if any, committed by the Borrower/s in discharge of the Borrower/s obligation as the Company may deem appropriate and
necessary, to disclose and furnish to any agency authorized in this behalf by RBI or otherwise.
12.8.4 The Borrower/s declares that the information and data furnished by the Borrower/s to the Company are true and correct.
12.8.5 The Borrower/s undertakes that —
12.8.5.1 The Credit Intimation Bureau (India) Limited and any other agency so authorized may use, process the said information and data
disclosed by the Company in the manner as deemed fit by them; and
12.8.5.2 The Credit Information Bureau (India) Limited and any other agency so authorized may furnish for consideration, the processed
information and data or products thereof prepared by them, to Banks/ Financial institutions and other credit grantors or registered users, as
may be specified by the Reserve Bank in this behalf.

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Borrower Co-borrower Gaurantor
12.8.6 Appointment of agencies for verification and collection -The Borrower/s expressly recognizes and accepts that the Company shall,
without prejudice to its right to perform such activities itself or through its officers or servants, appoint one or more third parties of the
Company's choice for verifying the physical premises of the Borrower/s residence/office or otherwise, collect/attempt to collect the
installments hereunder moved and any other amounts due tote Company on behalf of the Company, repossess/ attempt to repossess the
Hypothecated Vehicle /Asset and to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto
including sending notices of demand, and generally performing all lawful acts as third parties may consider appropriate for the purpose. The
Borrower/s further agrees to pay and be liable to pay on demand to the Company expenses incurred by the third party in carrying out the
above works on behalf of the Company including legal costs and fees, the expenses of postage, telephone calls, legal notices and proceedings
and all expenses of agents/ representatives deputed for verification of physical premises of Borrower's office/ residence, collection of
Installments and repossession of Hypothecated Vehicle/ Asset.
12.8.7 Even on the occurrence or cant nuance of any condition recognized as force majuere, the Borrower/s shall remain fully responsible and
liable for the due repayment of all instalments and other charges payable hereunder with interest costs and other charges thereon within the
time fixed for hereunder and for observance of all terms conditions and covenants as contained herein.
12.8.8 The net proceeds of sale, realization, recovery and/or insurance claim proceeds relating to the Vehicle/Asset on receipt by the Company
shall be applied at its absolute discretion in the manner it things fit. The Borrower/s shall continue to be liable for any deficiency in the amount
due to the Company by the Borrower/s after adjustment of the net proceeds of sale, realization, recovery and/or insurance claim as above.
Articles- 13 Guarantee and Guarantor's Covenants
13.1 In consideration of the Company giving Loan to the Borrower/s and at the request of the Borrower/s, the guarantor(s) hereby guarantee
(s) that his/their obligation shall be concurrent with those of
the Borrower/s in all respects as if he/they himself/themselves was/were the Borrower/s.
13.2 The Guarantor(s) hereby guarantee(s) to the Company the regular and punctual payment of all sums and monies becoming due and
payable under this agreement and the due performance and
observance by the Borrower/s of the terms and conditions of this agreement.
13.3 The Guarantor(s) hereby declares
13.3.1 that the Company shall be at liberty to sue the Borrower/s and the Guarantor(s) jointly and/or severally or shall be entitled to proceed
against the Guarantor(s) as if the Guarantor(s) is the principal debtor;
13.3.2 That the indemnities/guarantees contained herein shall remain in full force and effect for the entire period of the aforesaid agreement
or and shall survive the termination of this agreement in so far as they relate to events which occurred during the period of the aforesaid
agreement or any renewals hereof;
13.3.3 The Guarantor's shall not to assign, transfer, rewoke, cancel, alter, modify or withdraw this guarantee without the prior written consent
of the Company.
13.4. The Guarantor's does/do hereby further unconditionally and unambiguously agree and covenant that such guarantee shall be and
remain as, for all purposes, a continuing guarantee and shall be in full force and effect till all the obligations of the Borrower/s covered under
these presents are performed and/or discharged and all dues of the said Company arising out of these presents are paid towards its full and
final satisfaction.
Article -14. Arbitration
14.1 All disputes, differences, claims and questions whatsoever arising out of or relating to or connected with this Agreement between the
parties and/or their respective representatives touching and
concerning these presents or anything herein contained or in any way relating to or arising from these presents including the construction or
operation of this agreement, the respective rights and obligations of the parties shall be referred to arbitration under the Arbitration and
Conciliation Act, 1996 or any statutory modification or reenactment thereof at that time in force to a sole arbitrator to be appointed by the
Company. The arbitrator shall hold his sittings in. / Kolkata. The borrower will bear the entire cost of arbitration without having any right to
claim any reimbursement from the said Company.
14.2 The Arbitrator shall have all the powers of an Arbitrator under the existing laws including powers to pass interim orders and interim
awards.
14.3 The parties to the present Agreement expressly agree that the Arbitrator will not be required to give any reasons in support of his award.
14.4 If any Arbitrator appointed as above refuses to act as Arbitrator or withdraws from his office as Arbitrator or vacates his office or is
unable or unwilling to perform his functions as Arbitrator for any reason whatsoever or dies or in the opinion of the Company fails to act
properly, the said Company shall appoint new Arbitrator to act in his place. Such reconstituted Arbitrator shall proceed with the reference
from the State at which it was left by the previous Arbitrator.
Article 15 Jurisdiction
All disputes and differences arising out of and/or relating to and/or connected with this Agreement including any Collateral Document shall be
subject to the sole and exclusive jurisdiction of competent Courts in .................................... only.
Artides-16 Acceptance
16.1 The Borrower/s as well as the Guarantor's has have read the entire Agreement including the details given in Schedule, which have been
filed in the presence of the Borrower/s as well as the Guarantor/s except the Registration Number, which may be filled in later by the

___________________________ ________________________ _________________________

Borrower Co-borrower Gaurantor
Company. The Borrower/s as well as the Guarantor/s hereby expressly and irrevocably agrees to be bound by all the conditions including the
details in Schedule.
16.2 The abovementioned Agreement and other documents have been explained to the Borrower/s and the Guarantor/s in the vernacular
language and the Borrower/s as well as the Guarantor's have understood the entire meaning of the various Clauses. The Borrower/s as well as
the Guarantor/s further declares that each of them has been served with a copy of this agreement after the same having been signed by all
the parties thereto.
16.3 The Borrower/s as well as the Guarantor/s agree that this Agreement shall be deemed to commence and become legally binding on and
from the date of execution of these presents. It shall be in force till all the monies due and payable to the Company under this Agreement as
well as all other Agreements and documents that may be subsisting / executed by the Borrower/s are fully pad.

___________________________ ________________________ _________________________

Borrower Co-borrower Gaurantor

___________________________________________________________________________________________________________________
DECLARATION BY BORROWER
The contents of the Loan application, Agreement & Promissory Note have been explained by me in (language) and the
same have been understood by the Applicant.

Signature of customer in his language ____________________________ ________________________

Borrower Co-borrower

____________________________ __________________________ ____________________________________________

Signature of witness Name of witness Address of witness

___________________________ ________________________ _________________________

Borrower Co-borrower Gaurantor
 The Schedule above referred to:
Borrower Co-Borrower Guarantor
Name :
Name of Father / Husband
Address :
(including Pin Code / PO / PS /
District)
Constitution :
(in case of Proprietorship /
Partnership / Company)
2. Date of Agreement : _____________________________
3. Description of Asset : Commercial Vehicle / Passenger Car / Two -wheeler / other ………
Make ____________________ Model ____________________
Regn No. ___________________Engine No._______________ Chassis No.____________
(Applicable to Motor Vehicle only)
4. Loan Details :-
Cost of Asset (s) _________________________
Interest Rate : ____ % p.a. ( Flat / Simple / monthly reducing balance basis )
Loan Amount Rs. __________________ ( Rupees __________ only).
Tenure of Loan : ____ months.
5. Repayment :
i) No. of monthly / Quarterly instalment :- ________________

Due Date (Period)

SI. No. No. of Instalment Amount of each Instalment
From To
1
2
3

First Due Date _________________

Last Due Date _________________
Advance instalments _________________________
Number of PDC's ____________________________
6. Processing Fees / ECS / Other Charges Rs. ___________________________
( inclusive of all taxes)
7. Prepayment - 5% of Principal outstanding
Prepayment within 6 months from date of disbursement, interest on loan amount for 6 months plus prepayment charges.
8. Cheque/ECS dishonour charges : Rs. 350/- ( Rupees Three Hundred fifty only per return.)
9. Overdue Interest : 3 % p.m.
10. Cheque Swap Charges : Rs.500/- (Rupees Five Hundred only) per request
11. Damages : Rs ............................................................ /- per day
12. Nature of Use : Personal/Commercial
13. Place of Use : ...............................................................
14. Lending Office : ............................................................

Signed and delivered by :

___________________________ ________________________ _________________________

Borrower/s Co-borrower/s Gaurantor/s
______________________________
Date : SIGNED AND DELIVERED by
L&T Finance Limited
Place : through Authorised Signatory