LETTER OF UNDERTAKING

FOR POST DATED CHEQUES

Stamp as
Aggreement

Bank of Baroda
Abrama, Surat Branch

Dear Sirs,

Re: Post Dated Cheques (EMIs) towards payment of my / our dues of Rs. 38,00,000/- in Term Loan (Housing
Loan) account of A/c.No. _______________________

In consideration of loan facility of Rs. 38,00,000/- (Rupees Thirty Eight lakh Only)granted by you Sat my /
our request, Inter-alia against Demand Promissory Note / Term Loan Agreement for of Rs. 38,00,000/- We MR.
APLESHBHAI LALLUBHAI BELADIA hereby issue the initial / first set of twelve post-dated cheques, in
favor of the Bank towards repayment of the above said loan amount in ____ installments (No. of EMI) and agree,
assure, declare and undertake as under:

(i) The first eleven (11) cheques as aforesaid shall be drawn in your favour for 11 equal monthly instalments and
the 12th cheque shall be issued/drawn for the entire residual dues.

(ii) I / We MR. APLESHBHAI LALLUBHAI BELADIA hereby shall substitute the 12th cheque so issued,
with another set of twelve (12) cheques, 11 of which covering further equal monthly installments and the twelfth
one, again for the residual amount as stated supra., and this procedure shall continue to be repeated / followed by
me / us as long as required, that is, till the entire / full loan amount / dues is paid or discharged by me / us. In case
the residual dues amount to 11 EMIs or less, the number of cheques issuable shall stand proportionately /
accordingly reduced. Under the said arrangement, the 12th (twelfth) cheque issued for residual dues (every time)
shall be returned by you to me / us for cancellation / destruction. The details of the said first set of cheques so
issued are given here under:-

Sr.N Cheque No. Date Particulars Amount

o.
1
2
3
4
5
6
7
8
9
10
11
12

(iii) I / We shall keep the account on which the post-dated / other cheques are drawn adequately funded and
ensure at all times and in any event, that the cheques issued by me / us are paid promptly as and when they are
presented.

Your’s faithfully
MR. APLESHBHAI LALLUBHAI BELADIA