2 SMELF Nashik SANCTION LETTER Ref: SMELFINSK/SANCTION /2023-24/50 + 16.03.2024 Mis The Motwane Manufacturing Company Pvt Ltd Gyan Baug, Motwane Road, Nashik Road 422 101 Dear Sir, At the outset, we welcome you to Bank of Baroda. We refer to your Loan application and are pleased to inform you that our competent authority on 16.03.2024 has approved the Credit facilities, as detailed hereunder for a period of -12- Months, on terms and conditions as detailed in “Annexure D” Details of credit facilities: es (€ In Crore) PARTICULARS Purpose ‘Sanctioned Limits Fund Based i Overdraft. under Baroda Property | Working Capital 44.00 Pride) Sub Limit: (ILCIFLC) (4.00) ‘Term Loan! GECLI 0.54 Term Loan I GECL II 7.08 | Total Fund Based | 15.62 Non-Fund Based | Bank Guarantee Working Capital 400 | Derivative Limit (Forward Cover Limit) | Notional Limit for Hedging of Forex Exposure 0.36 Total Non-Fund Based 4.35 (TOTAL EXPOSURE 13.97 Please, note that the advance made available to you under the above mentioned facilities are repayable ‘on demand and the terms and conditions of the facilities granted to you at the discretion of the Bank are subject to change without any prior notice. ‘The credit facilities sanctioned to you are subject to periodical review at the Bank's discretion based on operative statements to be submitted by you and also subject to compliance of various terms and conditions detailed in Annexure-D. At the time of next review i.e. after -12- months, Rate of Interest, Processing Charges and Other ‘charges will be applicable as per extant Bank Guidelines. ‘The Bank reserves the right fo discontinue the facilities and to withhold J stop any disbursements, without giving any notice in case of non-compliance / breach of any of the terms and conditions stipulated herein 2nd from time to time as also in the relevant documents or any information / particulars furnished to us found to be incorrect or in case of any development of situations wherein in the opinion of Bank, its interest will be /s likely to be prejudicially affected by such continuation or disbursement The Bank reserves the right to withdraw, modify or amend the terms and conditions of aforesaid credit faclities and Bank would not be bound to disburse full amount in respective credit facilities in the event of any fallure on the part of the Borrower in satisfying any of the terms and conditions stipulated If the applicants of loan / borrower does not meet the repayment of the loan as per schedule, their loan account will go in arrears and this may affect his credit rating, the circumstances in which the Bank is entitled to recall the entire loan, the credit counselling facility, if any available with the Bank. iMig The Motwane Mig Co Pvt Lid Gaif Club Branch j Page 1 of 17a = SMELF Nashik ‘The disbursement / release of limits will be made only after documentation and other formalities are completed and all the terms & conditions of sanction are fully complied with. The emount under credit limits will be disbursed on compliance of all the sanctioned terms and conditions by you. Please, note that the company to pay unified processing & documentation charges and any other charge as per bank's guidelines upfront. Yours faithfully, eee (Prasanna Purohit) Chief Manager \ Head—SMELF Nashik \ > —~ 16.03.2024 - as Date: Encl: Annexure D cc to: \( Fr information and further acton (Prasanna Purohit) Chief Manager Head - SME LF Nashik Unconditional Acceptance: ‘Name Signature Mis The Motwane Manufacturing Company Pvt Ltd | (Borrower Company) Mir Gautam Premnath Khandelwal (Director and Guarantor) Wis Nagpur Power and Industries Ltd (Corporate Guarantor) Wis The Motwane Wig Co Pvt Lte Golf Clb Branch Page 2 of 17SMELF Nashik Annexure D Detailed Terms and Conditions: om Namo: Mis Tho Motwane Manufacturing Company Private Limited ] ranch: Golf Club, Nas! Nature of Facility [Overdraft (Baroda Property Pride) Existing Limits with Indusind Bank 10.25 Crore (in the form of Casi Credit) With INDUSIND BANK (Sub Limits: (Sub Limits: EPCIPCFC: 8 1.50 Crore ILCIFLC: & 4.00 Crore) FBP/FBDIPSFC: % 1.50 Crore ILCIFLC: & 4.00 Crore Financial BG: € 4.00 Crore Bank Guarantee: 4.00 Crore) Proposed Limits 14.00 Crore (Overdraft BPP) RRate of Interest ~~ [Applicable ROI: Purpose For pre-sale and post-sale working capital requirement of the Compan) IMargin (0% on the Realisable Value of the Immoveable Property (Industrial) IPeriod "12- months. IBRLLR (Repo Rate i.e. 6.50% + Mark Up i.e. 2.65% = 9.15% p.a.) + S.P. 0.25% + 1.50% i€.10.90% p.a. at present with monthly rests. (50 bps reduced from applicable Credit Spread of 200 bps as per BPP scheme guidelines. Effective Credit ‘Spread is 150 bps) BRLLR on date of release of facility will be the applicable. + BRLLR consist of RBI Repo Rale at present at 6.50% which is subject to change as per RBI guidelines and Mark-Up at 2.65% which will be fixed for -3. years from the date of first disbursement. Interest is payable as and when chargediapplied in the account The credit risk premium will change as per extant guidelines of the bank or terms of sanction or change in credit rating. [Unified Processing [Applicable charges: Rs.350/- per lac or part thereof + GST harges i (concessional Charges (Subject to approval from Competent Authority): 50% f applicable Charges enniinent [Commitment charges wil be levied in case of non-utiization / underutiization of harges IFund based working capital limits of Rs. 1.00 crore & above, if average utilization is lbelow 60% of sanctioned / operative limit The utilization will be examined on arterly basis, I> Rate of Commitment Charges for fund-based limit: @ 0.50% p.a. (exclusive of GST) for the balance un-utilized portion below 60% of the sanctionedioperative limit. At the time of closure of accounts, the commitment charges will be recovered on proportionate basis. Prepayment Jas per extant Bank Guidelines applicable from time to time. harges [Secunty [Exclusive charge by way of Equitable Morigage on the Immovable Property as Imentioned in Security Table below security Documents, |i. DP Note executed by Company, under common seal supported by requisite Board Resolution (LDOC-2) 2. Letter of Continuing Security (LDOC-7) 3. Book Debt Undertaking (LDOC-51) lt. Undertaking for unconditional cancellation of undrawn commitment as per cir no BCC: 108/617 dated 27.12.2016 I5._Other Documents as mentioned in Common Security Documents. [Proviso ji. Any adhoc or excess over the sanctioned Overdraft Limit or separate TOD in Current account is not allowed under the scheme, so as to maintain stipulated margin on the securities charged to the Bank __| Wis The Motwane Wifg Co Pvt Lic Golf Club Branch Page 3 of 17‘SMELF Nashik a =a 2. The Company to deal exclusively with us. An undertaking to that effect to be submitted by the Company The Company to submit GST returns on quarterly basis. Branch to obtain and verify the same with the turnover. 4. Borrower to route the sales and all other transactions through their Overdraft | account only with the Branch. The Company to submit the stock statement once a year ie. as of last day of February by 10" of March every year. The company to display a plate describing “Our banker — Bank of Baroda” in office and factory premises on prominent and easily visible places. (Disbursement Credit Facilities will be released only after compliance of all terms & conditions of sanction, procedural guidelines, Undertaking to create mortgage, vetting of documents from Banks legal officer with rectification of irregularities pointed out, if any. > Disbursement will be made directly to respective CC account of the Company with INDUSIND BANK through RTGS / Demand Draft (Banker's Cheque to the extent of O/s Balance as per foreciosure letter / Latest Statements. Further OD limit will be released only after: [> Matching with the estimated projected sales performance. + Matching with the raising of working capital margin by the Company by way of necessary long term funds, of | IniandiForeign Letter of Credit (Usance Poriod 120 Days) Existing Limits with Indusind Bank Proposed Limits ] ® 4.00 Crore (Sub Limit of Cash Credit) | € 4.00 Crore (Sub Limit of Overdraft) ‘Commission/interest {Discount Processing _| applicable Charges For Procurement of Raw Materials, Spares, Stores etc from InlandiForeign Suppliers | | 20% Cash Margin in the form of duly discharged FDR at the time of establishing Co-terminus with Overdraft Facil ‘As per Table appended below (Service Charges for Non Fund Based Limits) | Concession: (Subject to approval from Compotent Authority): 25% Concession in applicable charges ‘Applicable charges: Rs.350/- per lac or part thereof + GST Concessional Chargos (Subject to approval from Competent Authority): 50% of | Security Documents | Proviso ‘Commitment Not applicable being sub limit of Overdraft Charges peer ee ‘Security 1. 20% Cash Margin in the form of FOR 2. Exclusive charge by way of Equitable Mortgage on the Immovable Property as | mentioned in Security Table below eee 7. Indemnity for Irrevocable Documentary Credit (LDOC 8) 2. Indemnity for Inland Letter of Credit (LOOC 8a) 3. Letter depositing FDR (LDOC 16A) 4. Undertaking for unconditional cancellation of undrawn commitment as per cir no BCC: 108/617 dated 27.12.2016 Other Documents as mentioned in Common Security Documents ‘The Company is to show goods received under accepted usance L/C separately in the stock statement til the time bills under LIC are paia. For high value LIC, ‘partial shipment permitted’ clause should be incorporated in UC and dispatch instructions should be matching with production schedule / sales of the Company. The Branch is to critically study the production schedule, consumption of RM, realization of sales, etc, so as to avoid devolvement of LIC. ‘Monitoring of LIC facility to be ensured as per extant guidelines. One time crecit report on overseas supplier to be obtained before establishing | Y Y vy UC above Rs.1.00 Cror Mis The Motwane Mig Co Pvt Ltd Golf Club Branch Page 4 of 17k a ‘SMELF Nashik a = In case of early realization of the debtors under the LIC before its due date, the Branch to Endeavour to build up the cash margin (higher than stipulated one) even up to 100%, to avoid diversion of funds for other purposes. > In-case of non-retirement of documents on of after due date, no further LIC to be ‘opened without permission from Regional office. > _No LC will be issued in favour of Group/Associate Concerns. Disbursement > Credit Facilities will be released only after compliance of all terms & conditions of sanction, procedural guidelines, Undertaking to create mortgage, vetting of documents from Banks legal officer with rectification of irregularities pointed out, if any, > Branch to obtain latest outstanding under LC Limits at Indusind Bank with amount, Beneficiary, their Bank, due date of each LC and cash margin kept for the same. > Branch to issue counter bank guarantee to Indusind Bank to the extent of the current outstanding of LC. Branch to obtain written acknowledgement and confirmation from Indusind Bank for the same. | > On retiring each LC due to payment on due date, the company to bring in cash margin on the said closed LC to Branch immediately. Branch to ensure ‘compliance. | > Alter each LC payment, branch to obtain confirmation from Indusind Bank releasing our Bank's liability under the said Counter Guarantee to the effect of retired or closed LC. 3. Nature of | Bank Guarantee (Inland / Foreign) (Financial / Advance / Performance) 7 Facility 2 Limit Existing Limits with Indusind Bank | Proposed Limits 7 € 4.00 Crore (Sub Limit of Cash Credit) | € 4.00 Crore Purpose Bid Sond, Perfomance, Ratenfon, Money, Custonaiisoiee, “Advance fom | Customers, Quota for Exports etc (relating to normal trade of the Company) Margin 20% Cash Margin in the form of duly discharged FDR at the time of issuing 8G ] [Period Costerminus with Overdraft Facility Commissioniinterest | As per Table appended below (Service Charges for Non Fund Based Limits} ‘Discount Concession: (Subject to approval from Competent Authority): 25% Concession in applicable charges Unified Processing | Applicable charges: Rs.350/- per lac or part thereof + GST Charges | Concessional Charges (Subject to approval from Competent Authority): 50% of applicable Charges STE ‘Commitment charges will be levied for non-utiization / under-utiization of Non Fund Charges based credit facilities with limits of Rs. 1.00 Crore and above in case where utllzation of NFB limits are less than 60% of sanctioned limits @ 0.25% p.a. for the {__ underutilized portion viz-a-viz minimum requirement of 50%. | Security 4. 20% Cash Margin in the form of FOR 2. Exclusive charge by way of Equitable Mortgage on the Immovable Property as mentioned in Security Table below _| Security 7| 7. Stamped Counter Indemnity (LDOC 34a) Documents 2. Undertaking for unconditional cancellation of undrawn commitment as per cir no BCC: 108/617 dated 27.12.2016 3. Letter depositing FDR (LDOC 18A) 4._Other Documents as mentioned in Common Security Documents Proviso 1. Guarantees issued shall be specific & unequivocal as regards: ¥ Amount Period v Beneficiary |v Purpose 2. The following type of guarantees shall not be issued ‘* Guarantees having unlimited validity / maturity of more than 10 years, except in favour of courts backed by 100% margin. Wis The Motwane Mfg Co Pvt Lie Golf Club Branch Page 5 of 17 EXSMELF Nashik oa Disbursement __|__by the company and beneficiary. Be Guarantees in respect of deposits / loans received from any person/Bank/NBEC, in lieu of their risk appraisal 3. The Bank Guarantee issued by the Branch shall not contain any onerous clause or liability for payment of interest. The liability of the Bank should be clearly determined in terms of amount and time. If deemed necessary, the guarantee format may be got vetted from the Legal officer at Zonal Office 4, No Bid-bond guarantee is to be issued under regular BG limit, since Bank is required to undertake additional obligations by way of Term Loan and Working Capital limits to fulfil commitment of the contract to be awarded under Bid BG 5. If no advance from the customers is projected in CMA, Advance Money | Mobilization advance BG is to be issued only after earmarking equivalent amount in Cash Credit limit 6. Performance BG will be issued for only recent dated order/s and not for old one where performance is poor or yet to start Before issue of large value performance BG, the Branch is to ensure that the Company has adequate infrastructure in respect of factory lands & buildings, machineries, manpower, ‘owned funds, etc to execute the order in time. 7. If the BG is issued for procurement of raw materials, the amount of such BG issued in the account is to be subtracted while calculating drawing power. 8. In case of invoked BG, no further guarantee is to be issued without permission from Regional office. 9. Monitoring of BG facility to be ensured as per extant guidelines. 10. No BG will be issued in favour of Group/Associate Concerns. 11. Advance Payment Guarantee get cancelled after issuance of Performance Guarantee; hence APG & PBG will not run simultancousl) sanction, procedural guidelines, Undertaking to create mortgage, vetting of documents from Banks legal officer with rectification of irregularities pointed out, if any, > Branch to obtain latest outstanding under BG Limits at Indusind Bank with amount, Beneficiary, their Bank, due date of each BG and cash margin kept for the same, > Branch to issue counter bank guarantee to Indusind Bank to the extent of the Confirmation from Indusind Bank for the same. margin on the said closed BG to Branch immediately. Branch to ensure ‘compliance. > After each BG Closure, branch to obtain confirmation from Indusind Bank | releasing our Bank's liability under the said Counter Guarantee to the effect of retired or closed BG. > No BGs will be renewed on due date at Indusind Bank. Branch to ensure the same by issuing fresh BG in lieu of the subject BG if renewal requested ‘of | Term Loan | (With Indusind Bank Alc No: 570000023434) current outstanding of BG. Branch to obtain written acknowledgement and > On reversing and closing each BG on due date, the company to bring in cash | Credit Facilties will be released only after compliance of all terms & conditions of | Existing Limits with Indusind Bank 0.64 Crore Mt Purpose “Take over from Indusind Bank Marg) Not Anplicble a Perio Rate of interest jonth “Applicable 801 BRLLR (Repo Rate i.e. 6.50% + Mark Up ie. 2.65% = 9.15% p.a) + S.P. 0.25% + 0.75% i.2.10.15% p.a. at present with monthly rests. (50 bps reduced from | applicable Credit Spread of 125 bps as per BPP scheme guidelines. Effective | Credit Spread is 75 bps) | *+__BRLLR on date of release of facility will be the applicable. jual Period) Wis The Motwane Wifg Co Pvt Lic Golf Club Branch Paae 6 of 17‘SMELF Nashik * BRLLR consist of RBI Repo Rate at present at 6.50% which is subject to | change as per RBI guidelines and Mark-Up at 2.65% which will be fixed for -3- years from the date of frst disbursement. + Interest is payable as and when charged/applied in the account © The credit risk premium will change as per extant guidelines of the bank or terms of sanction or change in credit rating Unified Processing Charges ‘Applicable charges: Rs.350/- per lac or part thereof + GST Concessional Charges (Subject to approval from Competent Authority): 50% of | applicable Charges Period Prepayment ‘As per extant Bank Guidelines applicable from time to tim Charges. HELE Security Exclusive charge by way of Equitable Mortgage on the Immovable Property as | mentioned in Security Table below Security 7/1. DP Note executed by Company, under common seal supported by re Documents. Board Resolution (LDOC-2) | 2. Letter of instalment with Acceleration Ciause (LDOC -57) | B | 3__Other Documents as mentioned in Commor | Repayment ‘© Door fo Door Tenure is remaining period of -09- Months without any Moratorium | Schedule Period. 1st Installment shall be due in same month of disbursement. Likely date | 31.03.2024 | ‘© Repayable in -09- Monthly instalments of ® 6,00,000/- | He Interest is to be served separately 2s and when applied in the account. | Disbursement > Credit Faciities will be released only after compliance of all terms & conditions of | sanction, procedural guidelines, Undertaking to create mortgage, vetting of | documents from Banks legal officer with rectification of irregulanties pointed out, | if any. > Disbursement will be made directly to respective TL account of the Company |” with INDUSIND BANK through RTGS / Demand Draft /Banker’s Cheque to the extent of O/s Balance (net of overdues, if any) as per foreclosure letter / Latest | Statements or sanctioned limits whichever is lower Sire re reer 3. Nature of | Term Loan II (With Indusind Bank Ale No: 689000009667) ] Facility | Limit Existing Limits with Indusind Bank | Proposed Limit | | 21.08 Crore % 4.08 Crore Purpose Take over from lndusind Bank sae 1 Margin Not Applicable z a -40- months (Residual Period) subject to annual review _ Rate of Interest Unified Processing Charges ‘Applicable RO! 0.85% over BRLLR (Repo Rate ie. 6.50% + Mark Up ie. 2.65% = 9.18% p.a) + S.P. 0.25% ie.10.25% p.a. at present with monthly rests. Concessional ROI: BRLLR (Repo Rate: 6.50% + Mark Up 2.25%) ie. 8.75% p.a at present with monthly rests subject to approval from Competent Authority BRLLR on date of release of facility will be the applicable. BRLLR consist of RBI Repo Rate at present at 6.50% which is subject to change as per RBI guidelines and Mark-Up at 2.10% which will be fixed for -3- years from the date of first disbursement. Interest is payable as and when chargediapplied in the account The credit risk premium will change as per extant guidelines of the bank or terms of sanction or change in credit rating ‘+ Proposed Concessional ROI is valid for 2 period of -1- year from the date of sanction and will be reviewed annually based on internal / CMR rating ‘Applicable charges: Rs.350/- per lac or part thereof + GST Concessional Charges (Subject to approval from Competent Authority): 50% of applicable Charges Wis The Motwane Mig Co Pvt Ltd Golf Cub Branch Page 7 of 17'SMELF Nashik a om Prepayment ‘As per extant Bank Guidelines applicable from time to time. LGhenes aie ee tn a ene Security Exclusive charge by way of Equitable Mortgage on the Immovable Pr a | mentioned in Security Table below a Security 7/1. DP Note executed by Company, under common seal supported by requisite Documents | Board Resolution (LDOC-2) 2. Letter of instalment with Acceleration Clause (LDOC -57) 3. Other Documents as mentioned in Common Security Documents. Repayment iaining period of -40- Months with Moratorium Period Schedule | months. 1st Installment shall be due on 09.06.2024. Repayable in -36- Monthly Instalments of & 3,00,000/- each. Interest is to be served separately as and when applied in the account. Disbursement Credit Facilities will be released only after compliance of all terms & conditions of sanction, procedural guidelines, Undertaking to create mortgage, vetting of documents from Banks legal officer with rectification of irregularities pointed out, if any. > Disbursement will be made directly to respective TL account of the Company with INDUSIND BANK through RTGS / Demand Draft /Banker’s Cheque to the extent of O/s Balance (net of overdues, if any) as per foreclosure letter / Latest Statements or sanctioned limits whichever is lower, 6. Nature ‘of | Forward Contract limit (Notional Exposure) Eee ___Facility Limit oe. _| Purpose For hedging of Foreign exchangerisk aa Margin ‘5% Cash Margin in the form of FDR, of the forward contract booked. Period Cotterminus with Overdraft Facility eae | Charges! ‘As per Bank's Extant Guidelines. Commission | Processing Charges | Applicable charges: Rs 350/- per lac or part thereof * GST Concessional Charges (Subject to approval from Competent Authority): 50% of applicable Charges. Terms & Conditions |* The booking shall be for genuine business transactions against specific request | of the Company as per said down procedure in the prescribed application form ‘+ Stamped Agreement / Undertaking for forward contract booking as per Bank's guidelines The forward contract shall be allowed subject to underlying exposure. | + Forward contract booked in excess of 75% of the eligible limit shall be on | Deliverable Basis and cannot be cancelled. | ‘+The aggregate forward contract booked during the year and outstanding at any point of time should not exceed the eligible limit + Any forward contract booked without producing documentary evidence will be marked off against this limit. | + Importer/Exporter should furnish a declaration to the branch regarding amount booked with other AD category 1 Banks under this facility, +The importer! exporter have to produce supporting documentary evidence at the | time of cancellation before the maturity of the forward contract, + In case of an exporter the amount of overdue bills should not be in excess of 110% of the turnover to avail the above fazility. | + To ensure that forward purchase contract are not booked for speculative purpose {and are based on/ supported by underlying contract + Negative currency in respect of marked to market loss wil be recovered immediately from the account. The Company and Branch to comply all the FEMA / Bank /JRBI guidelines. Branch to ensure strict compliance of RBI Guidelines for booking Forward | | Contr \ ., Mis The Motwane Mig Co Pvt Lid Golf Club Branch he Pace 8 of 17 gash —e‘SMELF Nashik a =m ‘© Branch to maintain margin in the form of FDR/earmarking of the sanctioned limit | on Forward Contract amount, as per Bank's guidelines. ‘© Any forward contract booked without producing documentary evidence will be | marked off against this limit ‘* An undertaking to be obtained from the customer to produce supporting | documentary evidence before the maturity of the forward contract. | © Due compliance of RBI/FEDAI rules and regulations! Bank's guidelines as | advised from time to time in respect of booking of forward contract to be ensured, Security ‘SN | Particulars 7 1) | Equitable Mortgage of Factory Land and Building situated at Plot No 1 admeasuring 9137.01 Sq Mir, S No 116 A/1, 116 A/2, 117/D, Gyan Baug, Near Utsav Lawns, Motwani Road, Datta Mandir Signal, Nashik Pune Road, Deolali Shiwar, Nashik Road, Nashik 422 101 and construction thereon | (2327.02 Sq Mtrs) owned by the Company M/s The Motwane Manufacturing Company PvtLid | 2) _| Exclusive charge by way of Hypothecation of stock & book debts and all chargeable current assets | of the Company both present & future. 3) | Hypothecation of Entire Plant & machineries, equipment, office furniture & equipment, other moveable fixed assets of the Company present & future 4)_| Cash Margin in the form of FDR @ 20% ofthe total NFB Limit proposed 5)__| Cash Margin in the form of FOR @ 5% of the Forward Cover Limit Guarantee of: @) | Personal Guarantee of: > Gautam Premnath Khandelwal Corporate Guarantee of Ms Nagpur Power & Industries Limited backed by Board Resolution [Common Security Documents : Pre-Disbursement |(In addition to Security Documents mentioned in Indi 4. Board Resolution (LDOC 75) 2. Undertaking to Create Mortgage in Banks favour Composite Hypothecation Agreement (LDOC 178) 4. Declaration cum Undertaking cum Authority (LDOC 134). Undertaking cum Indemnity regarding of Payment of Stamp Duty. ‘An Undertaking from the Borrower to exclusively deal with our Bank Letter of Authority to Make payment directly to the Dealers (LDOC 72) Undertaking from the Borrower deciaring that the Company does not owe any overdue statutory dues like GST, Income Tax, Corporation Tax, Professional Tax etc. and has obtained / renewed licenses from concerned authorities required for the business every year General Form of Guarantee (LDOC 33) signed by following: ¥ Personal Guarantee of Gautam Premnath Khandelwal (Director) ¥ Corporate Guarantee of M/s Nagpur Power & Industries Limited (LDOC 33) 110. Any other undertaking/documents as Bank's guidelines, NOG / No Dues from INDUSIND BANK 2. Creation of Mortgage in Banks favour on following properties: dual facility) ser Post-Disbursement Equitable Mortgage of: Factory Land and Building situated at Plot No 1 admeasuring 9137.01 Sq Mtr, S No 116 A/1, 116 A/2, 117/D, Gyan Baug, Near Utsav Lawns, Motwani Road, Datta Mandir Signal, Nashik Pune Road, Deolali Shiwar, Nashik Road, Nashik 422 101 and construction thereon (2327.02 Sq Mtrs) owned by the Company Mis The Motwane Manufacturing Company Pvt Ltd Wis The Motwane Mig Co Pvt Lid Golf Club Branch Page 9 of 17,Applicable Service Charges on Non Fund Based Lim! ‘Inland Guarantee Financ ¥ 2.65% p.a+ GST for BG up to 3 years 2.75% p.a+ GST for BG above 3 years Note: ¥ Minimum Commission & (Performance /Financial) 1500 + GST ‘and Deferred Payment Guarantee and All Other Guarantees Porformance: ¥ 2.00% p.a+ GST for BG up to 3 years Y 2.10% p.a+ GST for BG above 3 years SMELF Nashik Foreign Guarantee Performance: 1.60% p.a+ GST for BG up to 3 years 1.70% p.a+ GST for BG above 3 years Financial: ¥ 2.10% p.a+ GST for BG up to 3 years ¥ 2.20% p.a+ GST for BG above 3 years Note: ¥ Minimum Commission & (Performance (Financial) 1500/- + GST ¥_ Incase of early redemption of guarantee aftera |” In case of guarantee by ECGC Ltd. the period of 60 days, 50% of the commission for | applicable commission (on the covered portion) the unexpired period ie. from the date of| shall be 50% of the Card Rate and in case of redemption to the expiry date, shall be| Counter guarantee by Gol, the applicable | refunded. commission (on the covered portion) shall be ¥ SFMS / SWIFT/ Courier of @ 150/- shall be | 25% of the Card Rate. collected per guarantee. ¥ Incase of early redemption of guarantees after 2 period of 60 days, 50% of the commission for the unexpired period ie from the date of redemption to the expiry date, shall be L refunded. ‘Commission on Letter of Credit Unland LC Foreign LC eae Sight: Sig 0.70% GST (the period to be calculated from the | date of opening of LC to the last date of its validity) Usanee: 1.50% pa. + GST | Note: | Discrepancy Charges: 0.15% Min. ® S00/- and Max. = 2000/- + GST [Pre-disbursement Conditions ¥ 0.35% + GST for the first quarter. ¥ 0.15% p.m.+ GST thereafter Usani 1.80% p.a. + GST Note: ¥ Minimum charges for Sight and Usance LC is € 2000/- + GST For Import LC amount | exceeding ® 5.00 crore applicable commission will be @ 0.40% p.a. + GST or part thereof, Charges will be applied for actual number of days per annum basis, Discrepancy Charges: 0.15% Min. @ 500/- and Max. & 2000/- + GST v 1. [The Company and directors/guarantors to submit unconditional acceptance of the sanction lotter and submit the same to branch. Branch to obtain and keep the samo on record. (Other Applicab| sharges '* Inspection charges: € 5,000/- + GST 2.|the Company to pay applicable Processing charges, Inspection Charges, Vetting Charges, Commitment charges, Deviation charges, CIBIL charges etc. as per extant Bank guidelines. = Mortgage Creation Charges: @ 25,000/- + GST '* Deviation Charges: 2 5,000/- + GST (per deviation) \* CERSA\ verification charges and CIBIL Charges as per Bank's extant guidelines 3.]The Company to give stamped undertaking for creation of mortgage within -20- days from the date Mis The Motwane Wifg Co Pvt Lie a Golf Club Branch Page 10 of 17SMELF Nashik a =z f 1% disbursement. Additional interest of 0.50% p.a. will be charged on outstanding limits, after fexpiry of intial timeline (ITL)* allowed as under. \@ 0.50% p.a. upto -90- days after expiry of intial timelines. I@ 1% p.a. beyond -90- days after expiry of initial timelines. [Branch to obtain the TCR before disbursement and ensure that the securities are clear, jarketable and free from encumbrances (except Indusind Bank) and enforceable undo |ARFAESI Act 2002. If any deviation from guidelines for accepting the security andior issues are noticed, the same are to be communicated to Sanctioning 7 jo disbursement to be done without obt .garding creation of valid mortgage. ‘ecurity Documents (except Mortgage) to be executed before release of credit facilities and security documents should be got vetted by Bank's Legal department. Discrepancies, if any bserved to be rectified before disbursement of the facilities. pinion) The borrower Company and its directors to submit an undertaking on its letterhead duly signed and ‘stamped stating that: \* Borrower entity has all applicable approvals and permissions required for its business actvity and project and in future keep such permissions always valid and renewed, Any capital subsidy received from the government will be adjusted in Term Loan accounts, The Proprietor has been informed that; understand the fact that Notwithstanding any of the terms of sanction, the bank reserves the right to discontinue the fecilies / any facility without giving any notice, in case of non-compliance/ breach of any of the terms and conditions stipulated in the sanction letter and from time to time, as also if the relevant documents are defective or in the case of any development or situation wherein in the opinion of the bank its interest will be/is kely to be prejudicial affected by continuing the facility = There is no default reported in the name of Company/Proprietor and in individual capacity or being director / guarantor / promoters of any borrowing entity. Further proprietor! guarantors name is not reported in any of the CIBIL defaulters list, ECGC SEB! Banned list of promoters, disqualined directors list of ROC or any other RBIGO! approved Credit information companies. + The Company and proprietor are not related to any director of our Bank /any other Banking Company or to any staff of our Bank. [Branch to obtain CA certificate that No Statutory Dues are pending by the Company [Branch to seek disbursement authority from Regional Office, Nashik after compliance of all terms ind conditions as per extant guidelines. Disbursement Authority mandatorily to be routed through edit Mid Office (CMO). Disbursements to be made directly to respective CC and TL accounts of the Company with INDUSIND BANK through RTGS / Demand Draft /Banker’s Cheque to the extent of O/s Balance (not of overdues, if any) as per foreclosure letter / Latest Statements or sanctioned limits hichever is lower. Jafter disbursement from Overdraft and TLs, Branch to obtain Closure Letter and No Dues ‘ertificate from INDUSIND BANK and keep the same on record. Charge created by INDUSIND BANK by way of Hypothecation on the securities to be released immediately. Letter/Certficate to hat effect to be obtained and kept on record, 7. Branch to issue counter bank guarantee to Indusind Bank to the extent of the current outstanding of C and BG. Branch to obtain written acknowledgement and confirmation from Indusind Bank for the sme. a 0 be verified Pare 10 obtain latest CA Certified Net Worth of the directors and satisfy upon, UDIN of the same Sr.No [Other Specific Terms and Conditions: ae Concessions allowed in the account 10 be withdrawn if any of the below mentioned adversi symptoms observed in the account. > Financial Discipline, including cheque returns (more than 6) in the account due to financial reason > In case account moves to SMA-1 category (Concession shall stand withdrawn for the period) during which account remains in SMA Category along with additional penal interest being applied as per Bank norms) > There is no Degradation of External Rating / SME grading /CMR (if applicable) is The Motwane Mfg Co Put Lta Golf Cub Branch Page 11 of 17SMELF Nashik c= Degradation of internal rating Current account opened with other Bank to be closed as per extant guidelines Turnover in the account is less than 80% from the level of sales achieved on quarterly basis. ‘Sanctioned terms & conditions are not complied with vvyy IBank reserves the right to withdraw the concessions at any point of time. 2. [Branch to obtain No Dues Certficate / Loan Closure Certificate from INDUSIND BANK related to takeover of credit facility and satisfaction of charges on all securities. @ [After receiving original documents of properties from INDUSIND BANK. Branch to create Mortgage immediately without waiting for last day of the time period allowed. & |Genuineness of Title deed of land and related papers shall be verified from empaneled advocate of ur bank immediately after taking over the documents from the Bank and vetting of documents shall Iso be ensured after creation of mortgage. 3 [Security Perfection to be achieved within period of -30- days from the date of 1™ disbursement 6 |The Mortgage created to be vetted from Legal Deptt. Discrepancies, if any to be observed to be Iectified before disbursement of the facilites TL Ill and TL IV. 7. [Pending disbursement in Overdraft and NFB facilities to be done only after security creation perfection as per sanction terms only. [Our charge to be noted with CERSAl, Revenue Authority IBranch to ensure the existing charges of INDUSIND BANK over the primary and collateral Isecurities registered with CERSAl, Revenue Authority etc is satisfied within -1~ month from the date f closure of facilities with the Banks. 10|> The company to close its all Current Accounts maintained with any other BankiFl immediately. |> The company to route entire turnover through our OD account only. TiBranch to ensure that securities (primary & collateral) are adequately insured under comprehensive | insurance policy. The insurance policy to be submitted to the Bank. ¥2]> On retiring each LC due to payment on due date, the company to brin said closed LC to Branch immediately. Branch to ensure compliance > After each LC payment, branch to obtain confirmation from Indusind Bank releasing our Bank's |__liabilty under the said Counter Guarantee to the effect of retired or closed LC. Tal>_ On reversing and closing each BG on due date, the company to bring in cash margin on the sai closed BG to Branch immediately. Branch to ensure compliance. |> After each BG Closure, branch to obtain confirmation from Indusind Bank releasing our Bank's liability under the said Counter Guarantee to the effect of retired or closed BG cash margin on thd [General Terms and Conditions Borrower Company/Company to submit copy of documents / cerificate as and when demanded by iBank for KYC compliance by way of address proof and photo ID card, duly verified from originals hereof 2 |The Company is eligible under various government subsidy schemes ike CLCSS Scheme. If thel ‘ompany receives any capital subsidy, the same will be adjusted against loan account. Undertaking in this regard to be submitted by the Company. : 3. [Borrower Company/Company to submit net worth statement of the directors and guarantors along ith ITR and documentary evidence, every year after closure of financial year as per banks’ {guidelines and satisfy upon. in case if total banking exposure is above Rs. 50.00 crore, renewal of external credit raling to be ‘carried out by any approved External Credit Rating Agencies viz. CRISIL, CARE, ICRA & IFITCH and borrower to submit the copy to respective branch. In case of new sanction, the borrower (CompanyiCompany to submit external rating within 3 months from the date of disbursement /sanction for entire exposure from approved external rating agency else 2% penal interest will be sharged on entire limits. 5, [Borrower Company/Company to submit copy of following documents in addition to the ABS, VAT 7 \Sales Tax Returns/income Tax Retums / TDS Return/GST returns to be verified with the original thallans for depositing the tax as advised by Circular No. BCC/BR/105/328 dated 02.08.2013 6 |The Borrower shall keep the Bank informed of the happening of any event likely to have @ Isudstantial effect on their profit or business: for instance, if, the monthly production or sales are Isubstantially less than what had been indicated, the company shall immediately inform the Bank ith explanations and the remedial steps taken and/or proposed to be taken Wis The Mobwane Mig Co Pvt Ltd Golf Club Branch Page 12 of 178 jaro ‘SMELF Nashik |The Borrower company/Company shall keep the Bank advised of any circumstance adversely [affecting the financial position of subsidiaries/group companies or companies in which it has invested, including any action taken by any creditor against the said companies legally or therwise, 7. |All money advanced or to be advanced by the Bank will be utilized exclusively for the purpose set rth in application / project report submitted to the Bank. In case the advance is utilized or ttempted to be utilized for any other purpose or if the Bank apprehends or has reasons to believe {hat the said loan is being utilized for any other purpose, the Bank shall have the right to recall the fete oF any part of te loan / advance fortwith wihout assigning any roason there. Any jeviation will be dealt with as per RBI guidelines, & In case of taken over of facility, the Bank have right to recover the interest at applicable rate from first date of disbursement in addition to the pre-payment charges applicable on prepaid amount if ny. 9 [The facilities are sanctioned with condition of periodical review on due date. The renewal of facilties | ill be subject to satisfactory conduct and performance for which the renewal papers ie. latest judited / provisional financials, CMA, income-tax returns, etc. should be submitted before -3- jonths of the due-date of the review or -6- months from the date of close of financial year of the ompany/Company, whichever is earlier, failing which penal interest will be charged as per Bank's uidelines. {0jThe penal interest @ 2% p.a. shail be charged for any of the following defaults / regularities Non / Delayed submission of monthly stock & book-debt statement and / or quarterly certified book-debt statement with in stipulated time, for period of delay from last scheduled date of submission '* Non / Delayed submission of provisional / audited financials, CMA, |. T. returns, etc. for review of the facilities at least one month prior to due date. '* Non / Delayed submission of QIS statement. Pena interest will be levied for period of delay from last scheduled date of submission. Non / Delayed payment of invoked guarantee / devolved LIC. In the event of any breach / non-compliance of any major terms and condition of the sanction (at the discretion of the Bank) '« For the period of overdue interesvinstalment in respect of Term Loans and over drawings above the drawing powerflimit in Fund Based Working Capital accounts on account of interest/devolvement of letters of creditibank guarantee, insufficient stocks and receivables ete. T1|Borrower Company/Company will not open current account with any other non-lender bank without he permission of our bank. 72]The company/Company should maintain adequate books of accounts, stock register and records of Imachineries as per applicable accounting practices and standards, which should correctly reflect its nancial position and scale of operations and should not radically change its accounting system ithout notice to the Bank. [Bank will have the right to examine the books of accounts and carry out inspection by Bank's official technical experts / external agencies | C.A. Companys / management consultants and / or aluers. Ta[The terms and conditions of sanction such as rate of interest, margin, charges, receivable cover beriod, frequency of inspaction and allowed use of facility will be subject to change as per RBI's irective/bank’s Policy ! Validation of credit rating / Change in Base Rate from time to time. The iBank reserves the right to withdraw, modify or amend the terms & conditions of advance and [Bank would not bound to disburse full amount of advance in the event of any failure on the part of the Company in satisfying any of the stipulated terms & conditions. The Bank reserves the right to ithdraw, modify or amend the terms & conditions of advance and Bank would not bound to Kiisburse full amount of advance in the event of any failure on the part of the Company/Company in satisfying any ofthe stipulated terms & conditions. 7alThe stipulated rate of interest is subject to ‘Internal Credit Rating’ prepared by the Branch and to be etted by the approving authority The rate of interest is subject to change from time to time based on audited financials as on 31* larch of each year, which is to be submitted before 31* October of each year for carrying out credit ating and deciding rate of interest to be charged in the account for the next year effective from 1% Ictober for the respective year. in case of any delay in submission of audited financials, Bank reserves the right to charge rate of Wis The Motwane Wifg Co Pvt Ltd Golf Cub Branch EMA 4%, Paae 13 of 17 2) * pe ASATSMELF Nashik a oa Interest with maximum spread along with penal interest for delay in submission of BIS. jin case of default in repayment of the loan / advances or in the payment of the interest thereon or lany of the agreed instalments of the loan on due date/s by the company, the Bank and / or the RBI ill have an unqualified right to disclose or publish the company’s name and its directors as \defaulter/wilful dofaulters in such manner and through such medium as the Bank or RBI in their labsolute discretion may think fit 7 3 [Bank will have the right to have the company's factories inspected, from tme to time, by officer(s) of the Bank and/or qualified auditors and/or technical experts and or management consultants of the [Bank's choice. Cost of such inspection shall be bore by the company. [Borrower Company iCompany to allow access to the respective area, provide required information/documents and assist in inspection, all Inspection charges for periodical vertication of [Book Debts/securities will be borne by the Company. » The borrower is to obtain comprehensive insurance policy covering insurance of various securities i.e. factory buildings, plant & machineries, electric installations, furniture & fixtures, vehicles, computers, equipment's, stock of raw materials, work-in-progress, finished goods, residential bungalow, etc. charged to the Bank, incorporating Bank clause & Insurance Policy should cover stocks lying at different places and should cover all risks including earthquake, fire and such other risks with bank clause as may be required by the bank from time to time. The policy should be renewed before expiry date and original policy should be sent to the bank + The Branch to ensure that entire assets are insured preferably with Bank’s Bancassurance partner. Further Branch to explore to be obtained GCL! at least for the period up to achievement of COD and branch to explore for obtaining insurance renewal / extension for further period till repayment of term loan. 7g IThe Bank reserves the right to discontinue the credit facilities / advance / loans andlor to withhold 7 Istop any disbursementis without assigning any reasons / giving any notice, }» In case of non-compliance / breach of any of the terms & conditions stipulated therein and from time to time + In the relevant document or any information / particulars furnished to us found to have incorrect |» In case of any development or situations wherein, in the opinion of the Bank, its interest will belis likely to be prejudicially affected by such continuation or disbursement 79 IBorrower entity is not to raise any fresh loan, business loans, Borrower Company/Company vehicle loans etc. from any bank/NBFCs etc, without getting NOC from the branch, 20) IShare capital / unsecured loans/deposits / NWC to be maintained as estimatediprojected and shall Inot be withdrawn at any point of time. Profit will be plough back fully. Short term funds are not to be verted for long term uses. In case of any shortfall in Net Working Capital (as compared to lprojections)/ contingency, the Company should arrange additional Working Capital funds from own Ksources. 24 [Bank's nameplate for lien will be displayed prominently at the place of each unit, office, on hhypothecated machineries and also at the pl rage of hypothecated goods. 22) |The Borrower Company! Company to declare that the name of the Company or its Directors! Partners or Guarantors do not figure in any list of defaulters circulated by RBI or any Bank and Financial Institution nor the names of directors appear in caution list issued by RBVECGC/DGFT tc. and borrower will not appoint and induct any individual in the capacity of director! major hareholder, partner who are reported as defaults in any CIC defaulters list. In case it is observed that name of borrower or any of its director / promoter/ guarantor | major shareholder is reported in jefaulters list, Bank has right to cancel, withdraw , amend the facility and impose penalty and can 1dd / modify its sanction terms {ill correction of the same. 23) lUniess it is waived for borrower constituent, Due diligence certificate will be obtained from rofessional (Company Secretary or CA or Cost Accountant) as per format prescribed by RBI time time on cost of company. 24} faluation Reports in respect of the Factory Land & Building, other immovable properties charged to the Bank and Machineries will be obtained from the Bank's approved Architect Engineer / Valuer nce in every -3- years as per Bank norms, the fees for which are to be borne by the borrower. 235] ny guidelines issued by RBI/ Regularity authorities due to imposition of new law, change in iroumstances and any other event will be binding on borrower in term of sanctioned limit will be sonsidered. applicable for the sanctioned limits if not explicitly waived / modified by sanctioning iWis The Motwane Mig Co Pvt Lta Golf Club Branch Page 14 of 172) Bank of B SMELF Nashik 5 thor 26lThe Borrower CompanyiCompany should submit the statements under the Quarterly Monitoring feport system (QMR)Quarterly Information System (QIS) within the time stipuiated by Bank as lows, a [ais [During fast week before the Commencement of the quarter | lb (ais-i ithin -6- weeks from the close of the quarter | ISH thin -8- weeks from the close of the quarter (March & Sept 27|In case of Forex Transactions, borrower Company/company to provide details to branch and hedge | the same by forward booking /natural hedge and submit details in branch, 2B\During the period of Bank finance, borrower will keep all the statufory permissionsiicenses! | lapprovals and NOC jin force and alive and also undertake to comply with the observations, if any Imade by any of the license/permission authority. 2BIAI existing security/Guarantee are proposed to be continued until unless released) substituted [permission is given by appropriate authority. 30Bank’s lien will be marked with the competent revenue authorities/Reaistrar as the case may be in respect of mortgaged properties and bank will obtain the confirmation having noted our lien from them 3ijThe Borrower shall at all times during the currency of the loan comply with the following, to the ksatisfaction of lenders. Obtain and maintain all the required statutory! non-statutory clearances, Permission/ licenses! Pollution control certificate liv, to run the unit, and Submit copy of the same to the Branch f+ Obtain comprehensive insurance covers in accordance with good industry practice. The insurance cover would be kept valid throughout the tenure of the Loan and insurance covers against loss of assets securing the Loan to be endorsed in favor of our Bank as a ‘loss payee’ 32]Unsecured loans to be retained by the CompanyiCompany til the currency of credit facilties to the (Company. A certificate from the Chartered Accountant regarding the unsecured loans shall be lobtained. The Company shall undertake not to effectipermit withdrawal of deposits by family Imembers, friends or directors during the currency of the bank advance without prior approval of the bank, (it to ensure that the raising of Paid-up Capital, Share Premium and Unsecured Loans is Inot from other associates/group concerns in which Bank has taken exposure and investments utside business in such concerns are not approved.) (Company to ensure that Interest on unsecured loan from friends / relatives not to be paid more than the ROI being charged by the Bank. 33}The company has to submit a certificate annually issued by Statutory auditors) regular CA of the lborrower to the effect that all statutory dues have been paid by the borrower as on date. 3élin case of discrepancy observed in tile documents and property / security offered observed to be isputed or not acceptable to bank, the bank has right to recall / refuse for sanctioned loan /faclity to the borrower and decision to reconsider the sanction will be with sanctioning authority on) “5|Charging or non-charging of additional/penal interest shall not in any way be construe as waiver or lacquiescence on the part of the Bank or satisfaction of any of the terms and conditions stipulated by fhe Bank for compliance in terms of this undertaking or otherwise howsoever. 36/Fresh NEC of property mortgaged will be obtained immediately and thereafter every -03- years as BCC Circular No, BCC: LEG: 112:342M dated 04.06.2020 37[The Bank will have the right to share credit information as deemed appropriate with Credit Iinformation Companies (CICs) of any other institution as approved by RBI fro Blin the event of default in repayment to our Bank or if cross defauit has occurred, the Bank will have he right to appoint its nominee on the Board of Directors of the company to look after its interests. 38lin stressed situation or restructuring of debt, the regulatory guidelines provide for conversion of debt equity. The Bank on its discretion shall have the right to convert loan to equity or other capital in sccordance with the regulatory guidelines. ‘O|After provision for tax and other statutory labilties, unless expressly permitted otherwise, the Bank il have a first right on the profits of the company for repayment of amounts due to the Bank Iin the event of default, or where signs of inherent weakness are apparent, the Bank shall have the Fight to securitze the assets charged and in the event of such securitization, the Bank will suitably inform the company and guarantor(s) 42|The company agrees to offer to the Bank, on a right of first refusal basis, at least pro rata business Felating to remittances, bills/cheque purchase, non-fund based transactions including LCs and BGs, forex transactions and any interest rate or currency hedging business contemplated, Z3[Bank will have right to verify details of borrower and its promoters / guarantor / directors / partners a ius The Matwane Wig Co PALS Gok Cub Branch Pace 150117 (KE x sivZ‘SMELF Nashik 5 =a in reports Of GIBIL , CIC Defaulters list, ECGC Caution list, RBI Caution List, SEB! Banned list romoters and disqualified directors list , CRILC etc. In case of observing of any adverse bservations / reporting by any lenders or authority, bank will have right to inquire, obtain {larfication from respective reporting authority or borrower and on its discretion recall // modify! festrict / cancel the sanctioned facllties or may impose penalty til rectification of the issue bserved ‘4élBank wil obtain CIR/ Exchange of information from other lenders / bankers and in case of any | ladverse reporting, bank will have right to inquire, obtain clarification from respective reporting lauthority or borrower and on its discretion recall / modify/ restrict / cancel the sanctioned facilities or Imay impose penalty til recifcation of the issue observed 5|During the tenor of advance, the Borrower Company/Company and its directors/promotersipariners ill NOT without the permission of the Bank in writing + Implement any scheme of Expansion / Modernization / Diversification, except which are approved by our Bank. + Formulate any scheme of Merger / Acquisition / Amalgamation / Reconstitution + Undertake any new project, implement any scheme of expansion or acquire fixed assets if such investment results into breach of financial covenants or diversion of working capital funds to financing of long-term assets. + Any Change in the management set-up of the Company/Company/company. + Effect any change in the company’s capital structure where the shareholding of the existing promoter(s) gets diluted below current level or 51% of the controlling stake (whichever is lower), ‘without prior permission of the Bank - for which 60 days’ prior notice shall be required. Enter into borrowing arrangement either secured or unsecured with any other bank, financial institution, company or otherwise or accept deposits which increases indebtedness beyond permitted limits, stipulated if any at the time of sanction + Invest by way of share capital in or lend or advance funds to or place deposits with any other concem (including group companies); normal trade credit or security deposits in the ordinary course of business or advances to employees can, however, be extended. Such investment should not result in breach of financial covenants relating to TOL/Ad). TNW and current ratio ‘agreed upon at the time of sanction, + Undertake any guarantee or letter of comfort in the nature of guarantee on behaif of any other ‘company (including group companies). + Extend finance to associate concerns during the currency of the Bank's advance without the bank's prior written consent, If any, + Pay commission / brokerage / fees etc. to Guarantor / or any other person for guaranteeing the | facilities sanctioned to the Company/company. |» Allow the level of net working Capital to come down from the estimated / projected level + Carry out any speculation business. Further, Branch to ensure that Fund is not diverted to any other purpose. + Pledge their share to other banks/F''s without prior permission of bank |+ Induct into its Board a person whose name appears in the wilful defaulters list of REV CICs. In case such a person is already on the Board of the borrowing company, it would take expeditious and effective steps for removal ofthat person from its Board. Nominee directors are excluded for this purpose. Declare dividends for any year except out of profts relating to that year after making all due and Necessary provisions and provided further that no default is subsisting in any repayment obligations to the Bank Create any charge, lien or encumbrance over its undertaking or any part thereof in favour of any financial institution, bank, company, Company or persons. + Sell, assign, mortgage or otherwise dispose of any of the fixed assets charged to the Bank However, fixed assets to the extent of 5% of Gross Block may be sold in any financial year provided such assets are having completed their useful life and sale of those does not dilute FACR below minimum stipulated level + Enter into any contractual obligation of a long term nature or which, in the reasonable assessment of the Bank, is detrimental to lender's interest, viz acquisitions beyond the capability of company as determined by the present scale of operations or tangible net worth of the companyinet means of promoters etc., leveraged buyout etc. | Change the practice with regard to remuneration of directors by means of ordinary remuneration or commission, scale of siting fees etc. except where mandated by any legal or iWis The Motwane Wig Co Pvt Lta Golf Club Branch Pace 160117 iy‘SMELF Nashik regulatory provisions. Undertake any trading activity other than the sale of products arising out of its routine manufacturing / business operations, Repay monies brought in by the promotersidirectors/principal shareholders and their friends and relatives by way of deposits/ioans /advances. Further, the rate of interest, if any, payable fon such depesits/loans/advances should be lower than the rate of interest charged by the Bank €n its term loan and payment of such interest will be subject to regular repayment of instalments to term loans grantedideferred payment guarantees executed by the Bank or other repayment obligations, if any, due from the company to the Bank. Perform any act resulting into any degradation in the value of securities offered. [The Company shall give 60 day's prior notice to the Bank for undertaking any of the above fentioned activities to enable the Bank to take a view. If, in the opinion of the Bank, the move ‘ontemplatad by the company is not in the interest of the Bank, the Bank will have the right of veto for the activity. Should the company stil go ahead, despite the veto, the Bank shall have the right to all up the facilities sanctioned. a 4e[Borrower will keep the Bank advised of any circumstances adversely affecting the financial position f their subsidiaries including any action, taken by any creditor against the subsidiary/associate sister concern 47|in case the borrower commits defaults in repayment of the instalment or in the payment of interest hereon, the Bank of Baroda and/or the RBI andlor CIBIL. will have an unqualified right to disclose or publish the name of the borrower andlor its directors as defauiteris in such manner and through such medium as Bank of Baroda or the RBI in their absolute discretion may think fit stipulated terms and conditions are subject to change and in case of having any difference from jenerally applicable banking Rules & Regulations / Banking Practice/ Charges for which specific iver / modification / relaxation not sought by the borrower and not approved by sanctioning fauthority/ competent authority, such bank guidelines / applicable rules will remain applicable to the nction even if not specifically mentioned in the sanction letter, unless borrower has taken waiver! elaxation approval for the same from the Bank 49)Pre-payment penalty is applicable on all credit facilites. Pre-payment charges will be recovered at 2 of outstanding amount at the time of pre-payment as per circular no, BCC:BR'113:750 dated 14.12.2021 as updated from time to time. SOBranch to ensure that unsecured loans of the Directors should not be withdrawn during the urrency of Bank finance. «| [This sanction is valid for -06- months from the date of sanction for Term Loan, However, sanction is aid for a period of -08- months from the date of sanction if sanction has been advised to the company and Company has given its unconditional acceptance, security documents have been executed and also 50% processing charges have been recovered. a e Wis The Motwane Wifg Co Pvt Lta Golf Club Branch Page 17 of 17