Date: 03/06/2022

To,

The Chief General Manager,

PNB- Circle Shastra.
Aurora Towers- Camp,
Pune.

Dear Sir,

Sub: Offer for One Time Settlement in Term Loans vide account no. 464400IC00000198 and
46400IC00000426.

Our company, JK Waste Recycling Pvt Ltd. had availed secured Term Loan and Cash Credit facilities
from Punjab National Bank in 2015 for Rs 267 Lacs and Rs 55 Lacs respectively. We were operating
perfectly and maintaining the account with a good repayment track but unfortunately a fire accident
occurred in the factory premises in October 2019.

Until the fire accident, we had already repaid Rs 118 Lacs and closed the Cash Credit limit voluntary
in the year 2017 out of the cash accruals from the business. Since the fire accident in October 2019
the factory could not function smoothly and just while we were planning to restart the operations in
Mar 2020, we were hit by the Covid-19 pandemic and eventually, our account became a Non
Performing Asset. Apart from this, in the month of Feb 2021, another fire accident occurred in the
premises which led to complete shutdown. Both the directors of the company are senior citizens
being 63 years and 71 years old and do not keep very good health as well.

However, the insurance claim for an amount of Rs 29 Lacs was settled and received in the month of
May 2022, which shall be adjusted towards the outstanding loan balance. We request you to
consider our offer for One Time Settlement for the outstanding balance at an amount of Rs.238.5
Lacs. We have already deposited an amount of Rs 20 Lacs in the No Lien Account (A/c No:
0386002200000089) maintained by Punjab National Bank, in the following manner:

Date Amount (INR) Reference no.

31-05-22 10,000 IMPS215117158685

02-06-22 4,90,000 N153221981520368

02-06-22 5,00,000 N153221982058321

03-06-22 5,00,000 N154221982992984

03-06-22 4,90,000 N154221983472718

03-06-22 10,000 IMPS215415316227

Further, we propose to repay the balance amount of Rs. 218.50 Lacs in the upcoming months
following the below schedule:

Month Amount

Aug 22 18,50,000
 Sept 22 30,00,000

Oct 22 50,00,000

Nov 22 60,00,000

Dec 22 60,00,000

Further, we request you to release the properties that we have offered as security for our loans,
correspondingly on repayment of the proportionate loan amount.

Property offered Approximate

Value (INR)

Residential Flat in Mumbai- situated at Lok Gaurav, Vikhroli West, 80,00,000

Mumbai -400083

Office 1 in Pune at KK Market Bibvewadi, Pune - 411043 30,00,000

Office 2 in Pune at KK Market Bibvewadi, Pune - 411043 30,00,000

NA industrial Plot -2, 31000 sq ft, Village Ghatdare, Tal Khandala, 80,00,000
Dist Satara

Building 5000 sq ft, NA industrial plot -1, 1.50,00,000

31000 sq ft Village Ghatdare, Tal Khandala, Dist Satara

We had been conducting our operations with best and honest intentions but unfortunately because
of 2 fire accidents, Covid-19 pandemic and our old age, we are not in a very good position to recover
the losses and revive our operations. It is our sincere request that you accept our offer at Rs. 238.5
Lacs less Rs.20 lacs down payment given = Rs.218.50 lacs. We shall be grateful to you.

Thanking You,

Yours Faithfully,

Director

For JK Waste Recycling Pvt Ltd.