Guaranteed Emergency Credit Line (GECL)
SANCTION LETTER
Ref No.: 5285701 Date : 01/01/2022
To,
M/s Moga Medicity Pvt. Ltd.
Near Radha Vallabh Mandir, Shanti Nagar, Civil Lines,
Moga
Subject: Sanction of Guaranteed Emergency Credit line (GECL)
Kind Attention: Mr. Ajmer Singh Kalra
In terms of Government of India “Emergency Credit line Guaranteed Scheme (ECLGS), we are pleased to
sanction Guaranteed Emergency Credit Line (GECL), by way of Working Capital Term loan (WCTL) as per
the terms and conditions given here under: This facility is covered by 100% guarantee from NCGTC (National
Credit Guarantee Trustee Company Ltd (Ministry of Finance, Government of India) in line with the Operational
Guidelines dated 1st October, 2021 issued by NCGTC.
This sanction is subject to the acceptance of Terms and conditions mentioned in this sanction letter and more
particularly detailed in the Facility documents/Master Facility Agreement and submission of required
documents, detailed below, unless specifically waived by the Bank.
1. Borrower : M/s Moga Medicity Pvt. Ltd.
2. Proprietor/Partners/Promoter :Mr. Ajmer Singh Kalra
Directors
3. Guarantors :NA
4. Total amount sanctioned :INR 1,73,73,000/- ( Rupees One Crore Seventy Three Lacs Sev-
enty three Thousand only)
5. Details of Credit Facilities :Working Capital Term Loan under ECGLS
Sanctioned
Sr. Credit Facility Currency Limits Interest Rate Current Total Moratorium period
No. (in (percentage per Reference Tenor
Lacs) Rate* (
annum) (Floating
EBLR )
Rate): Reference
Rate* + Spread of
0.80 (%) p.a.
1 GECL-WCTL INR 173.33 8.25% p.a. 7.45 % p.a. 60 Months 24 months
Total Limits 173.33
*In case of external benchmark the Reference Rate shall be reset by the Bank once in three months or at
such intervals as may be permissible under the RBI guidelines / regulations from time to time. The Borrower
hereby further agrees that the applicable interest rate shall change in accordance with every reset/ change of
the Reference Rate or change of the Spread by the Bank.
6. Purpose : To augment working capital requirement to enable business unit to meet
operating liabilities & restart / increase operations.
Registered Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India.
Email ID: Loansupport@hdfcbank.com, Tel No: 61606161, CIN : L65920MH1994PLC080618
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7. Repayment Period : 24 month Principal Moratorium.
36 monthly Installments after moratorium. (Principal Repayment)
Interest to be serviced on monthly basis.
8. Renewal Fees : NIL
Processing Fees : NIL
9. Security : Extention of second ranking charge over existing primary and collateral
securities including mortgages created in favour of the Bank.
10. Other Covenants :
a) Interest Servicing : Interest to be serviced on due date.
b) Interest Levy : Charged @ 18.00% p.a. on overdue/ delays/ defaults of any monies
payable.
c) Prepayment Penalty : No Prepayment Penalty shall be charged
12. Documentation : As per the documentation required by bank.
13. Specific Conditions : The Loan offer is subject to your unit complying with the following
additional requirements under the scheme as below :
a) Overall fund based outstanding credit with all Banks/NBFC/FI as
on 31st March, 2021 is less than Rs 50 crores.
b) Overdues if any, across all Banks/NBFC/FI as on 31 st March, 2021
does not exceed 60 days.
c) Your entity is registered under GST or is exempted from
registration under GST.
d) Other specific conditions which were mentioned in earlier sanction
letter(s) continue to apply.
14. Standard Terms & Conditions:
1. In event of Overdue Un-serviced Interest or EMI Amount, Bank reserves the right to recover the
monthly overdue interest / EMI amount from your Cash Credit / OD / current account under the
same customer ID. This transaction will take place subject to the availability of funds in the ac -
count.
a. All future borrowings by the Borrower shall be with prior written permission of Bank
b. Guarantors not to issue any Personal Guarantee for any other loans without prior written
permission of HDFC Bank except for Car Loans, Personal loans, Home loans, Education
loans to be obtained for self and family members.
2. These Credit Facilities are not available for investment made in shares, debentures, advances
and inter-corporate loans / deposits to other companies (including subsidiary companies). The
facilities are being extended at the sole discretion of HDFC Bank and the terms and conditions
as well as pricing would be subject to periodic review, amendment or cancellation.
3. Borrower is liable to pay stamp duties, charge creation, or any other charges that the bank may
have to bear on account of sanction or disbursement of the aforementioned Credit Facilities.
4. Credit facilities are payable on demand and are subject to annual renewal.
5. The Bank will have the right to review its facilities in case of any change in the ownership of the
Borrower enterprise. The Borrower to immediately inform HDFC Bank with regard to changes in
the shareholding pattern, if any.
6. The Borrower further agrees that in addition to any right enjoyed by the Bank in the event of the
Borrower committing any act of default, the Bank shall be entitled to disclose to the Reserve
Bank of India or to any other third person, on it being called upon to do so, the name / identity of
the Borrower and the fact of it having committed any act of default as aforesaid.
Registered Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India.
Email ID: Loansupport@hdfcbank.com, Tel No: 61606161, CIN : L65920MH1994PLC080618
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7. This sanction is subject to acceptance of Terms and conditions mentioned in this sanction letter
and more particularly detailed in the Facility documents/Master Facility Agreement and submis -
sion of required documents, detailed above, unless specifically waived by the Bank.
8. Nothing contained in this sanction letter should be deemed to create any right or obligation or in -
terest whatsoever in favour of or against any party and the Borrower shall be liable to execute
appropriate loan documents as required by the Bank.
9. The Borrower undertakes that no consideration whether by way of commission, brokerage fees
or any other form, would be paid by the Borrower to the Guarantor in whatever form, directly or
indirectly for the issuance of the guarantee as security for the Facility
10. The Borrower shall not transfer, sell, lease, grant on license or create any third party interest of
any nature whatsoever on the Security without the prior written consent of the Bank.
11. Incase of default, HDFC BANK has right to list the defaulted borrowers names and particulars on
the web site on the Trustee’s website.
12. Notwithstanding anything contained herein/in the loan agreement/security documents or any oth -
er document that has been / may be executed by the Borrower/Security Provider/Guarantor, any
payment or recoveries when received by the Bank shall be appropriated towards the following
heads in the following order of priority viz.: (i) Firstly, towards interest on fees, costs (including
costs of enforcement, preservation, maintenance and protection of secured assets), charges, ex-
penses, and other monies, and on taxes incurred by the Bank (ii) then, towards applicable taxes,
fees, costs, charges, expenses and other monies (including towards enforcement, preservation,
maintenance and protection of secured assets) incurred by the Bank and the taxes if any on any
reimbursements/deemed reimbursements thereof; (iii) then, towards default interest, additional
interest, liquidate damages, if any; (iv) then, towards interest on the Facility(ies) (v) then towards
prepayment premium/charges and taxes thereon, if any, (v) then, towards repayment of principal
amount of the Credit Facility(ies) including Equated Monthly Instalments if any; (vi) then, towards
other indebtedness of the Borrower to the Bank. Provided that, the Bank may however change
the aforesaid order in its sole discretion and appropriate any payment in any manner and in any
order of priority as it deems fit.
All other Standard terms and conditions and other Terms and Conditions as given in earlier sanction letter for
facilities enjoyed by the borrower would continue valid for overall credit facilities, including WCTL sanctioned
vide this sanction letter. This Sanction Letter is valid for a period of 30 days from the date of issuance.
Kindly sign and return the duplicate of the Sanction Letter as a token of your acceptance of the terms and
conditions of sanction. Kindly also call on our RM/SM for execution of necessary security documents.
We look forward to partner you in your business.
Yours Sincerely,
Barjinder Singh, Relationship Manager
IFG Department
HDFC Bank Ltd.
Accepted and Confirmed on behalf of:M/s Moga Medicity Pvt. Ltd.
Name: Mr. Ajmer Singh Kalra
Designation: Director
Date 01/01/2022
(Affix round stamp here)
Registered Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India.
Email ID: Loansupport@hdfcbank.com, Tel No: 61606161, CIN : L65920MH1994PLC080618
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