REConnect Energy Solutions Ltd

CIN - U40100MP2010PTC024384

Registered Office
173, A Sector, Phone : 080 5047 3388/99
Scheme No. 54, Indore, Email : info@reconnectenergy.com
Madhya Pradesh - 452010, INDIA. Website : www.reconnectenergy.com

To,

IDFC First Bank Limited (“the Bank”)

Date: 23rd July 2021

Dear Sir/Madam,

Subject: Master Facility Agreement dated 13th April 2020 (“Facility Agreement”) executed by and
between the Bank and REConnect Energy Solutions Ltd (the Borrower”) – Lien on Fixed
Deposit Nos._________ (Through Current Account Number 10056248251 for INR 500000

1. The Bank has, at the request of the Borrower granted/agreed to grant to the Borrower credit facilities
in the nature of Non Fund Based (Bank Guarantee) facility upto an amount of Rs. 40,00,00,000/-
(Rupees Forty Crore only) (hereinafter referred to as ‘the Facilities”) on the terms and conditions
contained in the Facility Agreement.

2. One of the conditions of the Facilities is that REConnect Energy Solutions Ltd (the “FD Holder/s”) shall
mark lien over FD in favor of the Bank to secure the Facilities together with interest, commission,
premium on prepayment, all costs, charges and expenses or other monies owing by the Borrower, and
all of other present and future obligations and liabilities of the Borrower to the Bank.

3. In consideration of the above, the FD Holder/s has agreed to create lien over the FD in favor of the
Bank.

4. FD Holder/s hereby offers the FD as security for the Facilities and request the Bank to accept and mark
a lien thereon in favour of the Bank as security for repayment of the Facilities together with interest,
commission, premium on prepayment, all costs, charges and expenses or other monies owing by the
Borrower, and also for all other present and future obligations and liabilities of the Borrower to the
Bank.

5. The FD receipt/s duly discharged in favor of the Bank is / are enclosed as security for repayment of the
Facilities together with interest, commission, premium on prepayment, all costs, charges and expenses
or other monies owing by the Borrower, and all other present and future obligations and liabilities of
the Borrower to the Bank[1]

Gurgaon Office : C-301, Nirvana Courtyard, Headquarters : 15, Krishik Sarvodaya Foundation,
Nirvana Country, Sector 50, Gurgaon - 122018, Golf Avenue Road, Off Old Airport Road,
Haryana, INDIA. Phone : +91 124 410 3216 Kodihalli, Bangalore – 560008, Karnataka, INDIA.
Phone : +91 5047 3388, +91 5047 3388/99
6. FD Holder/s declares that that FD is free from encumbrances and is the sole property of the FD Holder/s.

7. FD Holder/s/the Borrower agrees that the tenure of the Facilities shall not exceed the date of maturity
of the FD. Without prejudice to the foregoing, FD Holder/s authorizes the Bank, to renew the FD, at its
discretion, for such period the Bank may deem fit and continue to hold it as security for the Facilities
from time to time.

8. The FD Holder/s agrees that in case of any default under the Facilities, the Bank shall be at liberty to
take all steps, without any notice or reference to the FD Holder/s, necessary to prematurely encash the
FD and appropriate the net amounts towards discharge of all the liabilities of the Borrower in respect
of the Facilities, in case the same is then payable by the Borrower and/or transfer such FD proceeds
towards appropriate accounts of the Bank to utilize the same in connection with devolvement of
contingent liabilities undertaken by the Bank on behalf of the Borrower. Should there be any shortfall,
FD Holder/s/the Borrower hereby undertake to pay the same along with interest at the rate specified
by the Bank, on demand by the Bank without any demur. The Bank reserves the right to initiate
appropriate proceedings against FD Holder/s/the Borrower for recovery of any dues in respect of the
Facilities.

9. FD Holder/s hereby agrees that in case Bank prematurely closes FD to adjust the outstanding dues in
respect of the Facilities at the request of FD Holder/s/the Borrower or at the liberty of Bank to clear
any dues under the Facilities, interest on such prematurely withdrawn FD shall be payable as per norms
of the Bank applicable to such premature closures. However, at the time of premature closure of the
FD, interest chargeable in respect of the Facilities shall remain unchanged.

10. FD Holder/s hereby undertakes not to withdraw or close/pre-close or mark any lien/charge over the
FD until the Facilities are fully repaid along with interest and other monies to the satisfaction of the
Bank.

11. FD Holder/s agrees that interest / tax deducted at source on FD will continue to be accrued / deducted
in the name of FD Holder/s. FD Holder/s understands that notwithstanding the assignment / lien of the
FD, FD Holder/s will continue to fulfill all taxation obligations as per the applicable law.

2
 12. FD Holder/s confirms that it has necessary approvals in place to execute this Lien Letter and the same
is not in violation of law or contract to which it is a party. The FD Holder/s further confirms that if the
Bank assigns/transfers all or part of the Facility, the benefit of the FD lien will also stand transferred to
the transferee and the Bank shall hold the FD lien for the benefit of the transferee of the Facility.

We Note, Agree and Confirm the above.

For REConnect Energy Solutions Ltd

Madhusudan Chakrapani

Authorized Signatory

Date: 23rd July 2021

[1]
If no receipt is issued, please delete this