Japtha- 3

BEFORE THE HONOURABLE

MUNSIFF'S COURT
ATTINGAL

OS.NO: 12023

Plaintiff: Indian overseas Bank,

Mananakku Branch
Represented by its Manager

Defendants: PRAYAG.M.S AND

OTHRES

AGREEMENT Dated: 17.01.2013

Advocate: NIYAS.A.SALAM
 001 100

AGREEMENT 100 54A)

(To be stamped as an
Agreement) SPECIAL
ADHESTE
(Between the Student and the Branch of the Bank)
This Agreement for availing of interest subsicy under the
Centroal Sector
Subsidy on Student's Loan for Professional Education in India made Scheme Interest
of
on this...:..day of..M9M...... ...in the year...3.. at.meNey
BETWEEN
Srilrnt...MA.t..D.. .(Parent/Guardian)
S/o_DYO...am.a a.. .....aged.........years,
residing at:AkaM.ah..

AND

Sieni...m. .(Student)
S/o DHO...A.Eha..Q. ...aged....X...years,
residing at..3.A8.kN.:. .k.as:Pdh4..NeM..

represented by father/guardian. nhene .

....
S/o Dro.....D.: .aged........years,
resicing at.AAhad m,..kaspsaka.MAA..
Parent and students hereinafter jointly called the BorroOwers and individually as BorrOwer of
fhe First Part (which term wherever the context so requires or admits shall also include his/
her/their heirs, executors and assigns).
AND
Companies
Indian Overseas Bank, a body corporate Constituted under the Banking
having its Head Office at Chennai and
(Acquisition & Transfer of Undertakings) Act, 1970at..NMNMA..epresented
having among other Offices, a branch office
by their duly constituted attorney Sri/Smt...
context so requires or
hereinafter called the 'Bank' (which expression whereever the Asslgns) of the
successorS and
damits shall also include its Attorneys, Administrators,
OTHER PART.
individualy referred to herein as a Party
Borrowers and Indian Overseas Bank shall be
and collectively as 'Parties'
 WHEREAS
1. The BorrOwers availed/intend to avall Education Loan from the Bank
sanctioned/agreed to sonction Rs.30.72l.
and the Bonk 2

k M M ) f o r pursuing teChhicalprotessional educationb

in .
The Borrowers in conslderation f the sald sanction/promise has executed/shall
the Educational Loan Agreement, besides such other Agreement/s or securityles oe eXectre 4)
the t
the Model Educational Loan Scheme. decl
2. Integrated Finance Division, Department of Higher Education, Ministry of Humon 5)
Resource Development, Government of India (MoHRD) has come out with a Centro Edu
Sector scheme of Interest Subsidy on student's Loan for Technica/Professional Education in 6)
India (hereinafter called the Interest Subsidy Scheme) to provide interest subsiy on the
7)
education loans availed bystudents having lower thana specifled parental income as
decided by the MoHRD in the said Scheme for pursuing professional education in Indo, The
during their study/tepayment holiday. from the Academic Year 2009-2010. Sct
3 The
Ihe Borrowers represented that they are eligible for interest subsidy under the said
the
Interest Subsicy Schenme and requested the Bank to grant such benefit to them.
re
4 Based on the documents submitted by the Borrowers, the Bank agreed to extend
the benefit under the said Interest Subsicy Scheme to the Borrowers and the parties hereto e

S
desire to entire into an agreement setting out the terms and conditions as hereingfter B
oppearing. in addition to the loansecurity documents executed/to be executed by the
Borower/s.
IT IS HEREBY AGREED AND DECLARED BY AND BETWEEN THE PARTIES AND THIS DEED
WITNESSETH AS FOLLOWS:
1 The borrowers hereby cOvenant:
a) That they have read and underst0d the Interest Subsidy Scheme of the MoHRD
which is enclosed as part of this Agreement and declare and affirm that they oare eligible
under the said soheme and are eligible for the interest subsidy as per the said scheme.
b That they shall produce all proof and documents or any other further/supporting
documents as required by the Bank MoHRD.
C) That al the clauses contained in the Educational Loan Agreement or any other
documents executed by them shall be binding on them and this is in addition to ihe
covenants clauses contained in the said Agreement/documents.
That they shallreturn/refund the amount received towards interest subsidy under the
scheme, with applicable rate of interest then prevailing,forthwith on a mere demand by.
the Bank under the following circumstances".
1) if MoHRD rejects the interest subsidyclaim in respect of their Eductional Loan Ac
cOunt for whatever reason;or
 KIt 0s found that ihe subsldy has boon cairmed by
2) rmlsropresentatlon/fraud; of
3) If Borrowei/s fal/s TO TUrMisn the documonts/nforrnatlon, which they are Called upon
to furnish; or

4) If Borrowers commit breach of any of the covernants herein contained or of

the terms and conctions of the schome as gmended ftom trno to time or any of the
declaratlons made heraln Is found false/lincorrect; Or

5) t Borrowers commli branch of any of the covenants hereln contained in the

Educational Loan Agreement or any other docurments/s executed by the Boower/s:or
6) If the Borrower/s dlscontinue the sald professlonal educalton in India; Or

7) Any other reason by whlch the Bank recalls the sald Educational Loan.
The repayrment hollday/other ellglblfty as Is available under the Model Educational Loan
Scheme shall not be eligible for the Subsidy.
The Bark shallalso have the right to recallthe loan, if the sald refund id not made within
the period stipulated by the Bank in its demand, besides the right not to claim further
reimbusement from the MOHRD.,
That they shall directly take up with MoHRD, in case of rejection of their interest
e)
subsidyclaim submitted by the Bank and the Bank shall not be made a party to the sarne.
clarifi
Borrowers shall, on receipt of such intimation from the Bank/ MoHRD, Submit futher
cation/documents, if any, required by the MoHRD directly to MoHRD.
conditions of the
f That they shall comply with and faithfully observe all the terms and
amendments andmodifications
Said Interest Subsidy Scheme and also allthe subsequent
the sanction of the said Educational
andadditions thereto together with the conditions of
Loan.

shall bear all expenses requlres in connection with the execution of the Aaree
That they
and conditions.
ment or enforcement of its terms
hands on
Bank have hereunto sef their respective
In witness whereof borrowers and the
ihe day and place mentioned abOve.

BORROWERS: For INDIAN OVERSEAS BANK

1....