Ref No.

: 81468529

Sanction Letter
Date : 11/07/2024

MESSRS. PRADHAN CONSTRUCTION

CHHOTA GAMHARIA NEAR KERELA PUBLIC SCHOOL

CHHOTA GAMHARIA SERAIKELA KHARSAWAN JHARKHAND
Gamharia
SERAIKELA-KHARSAWAN
832108
India

Kind Attn:

Dear Sir / Madam,

Sub: Renewal of facility/ies of Rs : 21,000,000.00 /- (Rupees Two Crore Ten Lakh Only)

With reference to your application dated 08/07/2024 we are pleased to advise you the Renewal of the following credit facilities:

S.No Facility Facility Type Amount (in Rs. ) Rate of Interest / Commission

REPO Rate +4.5% i.e. 11% p.a. at

1 SBB OVERDRAFT Overdraft 21,000,000.00
present
The sanction will be valid for acceptance upto 08/10/2024 during which time, the terms of the facility would have to be accepted by the
borrower.
The terms and conditions for the same are annexed herewith.Your account will be opened at our Gamaria Branch.

Please arrange to return the duplicate copy of this sanction letter duly signed by the Authorized Signatory / Applicant(s) as a token of your
acceptance of the terms & conditions of the same and arrange for execution of loan/security documents at an early date. We look forward to a
mutually beneficial and long term relationship.

Contact our customer service toll free number 1800 419 5577 for any queries.

Yours faithfully,

Authorised Signatory
Axis Bank Ltd.

Place: The terms and conditions for the same are annexed herewith.Your account will be opened at our Patna

Encl: a/a

Sanction Letter Acceptance

I/We have read the terms and conditions mentioned in the sanction letter accept the Same.

Signature/thumb impression:

Applicant : PRADHAN CONSTRUCTION

Co-applicant / Guarantor : DEVCHARAN PRADHAN

Co-applicant / Guarantor : ANITA PRADHAN

Sanction Letter PRADHAN CONSTRUCTION Page 1 of 9

Ref No. : 81468529

Name of Primary Applicant,Co-applicant(s) and Guarantor(s):

Customer
Sr. Name Father/Husband Name Applicant Type
Category

1 M/S PRADHAN CONSTRUCTION - CORPORATE Primary Applicant

2 MR DEVCHARAN PRADHAN KHIROD PRADHAN INDIVIDUAL Guarantor

3 MRS ANITA PRADHAN JAGNNATH GOPE INDIVIDUAL Guarantor

Terms and Conditions

Facility(ies) :

Account Sublimit / Tenor / Renewal

S.No Facility Existing Limit Purpose
Facility Type Limit in Rs interchangeable After ( In
Type in Rs.
Months)*
SBB
Enhanceme WORKING
1 OVERDRAF Overdraft 15000000 NA 12
nt 21,000,000.00 CAPITAL
T
Grand Total : 21,000,000.00

* Tenor-Incase of Term Loan/Dropline OD & Renewal After- Incase of Facilities other than Terma Loan & Dropline OD (Subject to Satisfactory
Conduct) .

Existing Facilities, if any :

S.No Product Group Facility Existing Limit Present O/S Total Tenor A/c Number
in Months

1 SBB POWER SBB OVERDRAFT 15,000,000.00 11,835,030.98 12 920030058500750

Other Conditions :

Margin (Own Contribution) :

Repayment for Cash Credit / Working Capital / Overdraft :
EEGOD = On demand . Interest Start Date 31/07/2024 on MONTHLY basis

Security :

Properties

S.No Security Type Description Address Details

MAUZA PENDRABERA,HALKA NO6 P.S.

1 Secondary GAMHARIA,THANA NO28 KHATA NO71District:
RESIDENTIAL PROPERTY
SERAIKELA-KHARSAWAN,State:
JHARKHAND,Pincode: 832108,India

Owner Name Area Property Type For Facility Type

MRS ANITA PRADHAN AND MR SBB OVERDRAFT

800 VACANT LAND
DEVCHARAN PRADHAN

Properties

S.No Security Type Description Address Details

MAUZA CHHOTA GAMHARIA,P.S.

2 Secondary GAMHARIA,THANA NO67 HALKA NO2 KHATA
RESIDENTIAL PROPERTY
NO 40,41District: SERAIKELA-
KHARSAWAN,State: JHARKHAND,Pincode:

Owner Name Area Property Type For Facility Type

MINOR PRIYA KUMARI PRADHAN SBB OVERDRAFT

10890 RESIDENTIAL PROPERTY
D/O MR. DEV CHARAN PRADHAN

Borrower to submit valid copy of Insurance duly charged in favour of AXIS bank of the security(ies) Hypothecated/Mortgaged in favour of
Axis Bank. Further borrower to ensure that fresh copy of insurance is provided to the bank within 7 days before the

Sanction Letter PRADHAN CONSTRUCTION Page 2 of 9

Ref No. : 81468529

expiry of insurance policy. In absence of that, Cash Credit/Overdraft /Current account shall be debited towards the insurance premium
amount on the date of expiry of Insurance policy.

Charges :

Processing Fee : Rs.21,000.00 plus applicable taxes to be paid upfront/deducted from facility account.

Other Charges :

Sl.No Charge Code Description Amount

1 RENFEE Renewal Fee 44,754.00

Penal Charge :
1.Financial Default*: 8% p.a. above applicable interest rate on the overdue amount
(subject to the aggregate not exceeding Rs. 1,00,000/- per instance).
2.Non-Financial Default**: 1% p.a. above applicable interest rate/commission from the date of each non-financial
default on the outstanding amount of fund-based credit facilities and non-fund-based facilities (as applicable).
3.There shall be no capitalisation of Penal Charges.
4.The said Penal Charges will be subject to GST as per applicable law on Goods and
Service Tax in India, and GST will be charged separately.
5.*Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account.
6.**Non-Financial Default includes breach of any other obligation(s)/covenant(s) with respect to your Loan Account.

Service Charges : Enclosed as Annexure

Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable and is
subject to change from time to time as per directives from the regulatory authorities.
Special Terms & Conditions :
Pre-disbursement Conditions

S.No Product Description Special Terms & Condition

Axis Bank to be primary banker and entire turnover to be routed through existing OD account to be
1 SBB OVERDRAFT maintained with Axis Bank. Non compliance of the same will attract penal interest as per Axis
bank norms.
Interest to be serviced within 5 days of the interest application even if utilization is within the
sanctioned limit In event of overdue unserved interest/instalment amount, bank reserves the right
2 SBB OVERDRAFT
to recover the overdue Amount on or after 6th of the subsequent month from your linked account
under the same Customer ID.
The facilities now sanctioned will be due for renewal 12 months from the date of sanction. You are
3 SBB OVERDRAFT required to Furnish documents and information as may be required by the Bank two months prior
to the date of renewal/review.
All the assets secured to the Bank shall be insured for full value plus 10% covering all risks with
agreed Bank clause. The Borrower shall arrange for the comprehensive Insurance on the assets
4 SBB OVERDRAFT and a copy of the Insurance Policies to be submitted to the Bank. The Borrower shall ensure that
the name of the Bank is duly endorsed as the Beneficiary / Loss Payee on such insurance
policies and all renewals thereof.
Further borrower to ensure that fresh copy of insurance is provided to the bank within 7 days
before the expiry of insurance policy. In absence of that Cash Credit/ Overdraft /Current account
5 SBB OVERDRAFT
shall be debited towards the insurance premium amount on the date of expiry of Insurance policy.

In event of overdue unserved interest/instalment amount, bank reserves the right to recover the
6 SBB OVERDRAFT overdue amount on or after 6th of the subsequent month from your linked account under the same
Customer ID
All previous lien amt to be removed and Residential property having M.V of Rs 30.00 Lacs to be de
7 SBB OVERDRAFT
-linked from the system.
Enhanced OD limit of Rs 60.00 Lacs to be kept on lien. Lien amt to be released post obtainment of
8 SBB OVERDRAFT closure proof of ICICI Bank FDOD A/c bearing No. 260405000560 & closure proof of ICICI Bank
CA A/c No. 260405500170.
Closure proof of FDOD A/c No. 260405000560 with ICICI Bank having sanction limit of Rs 50.00
9 SBB OVERDRAFT Lacs to be submitted within 45 days from the date of disbursement of enhanced limits otherwise
penal interest to be charged as per Bank norms.
Closure proof ICICI Current A/c no. 260405500170 to be submitted within 45 days from the date of
10 SBB OVERDRAFT disbursement of enhanced limits otherwise penal interest to be charged as per Bank norms.

11 SBB OVERDRAFT Sole Banking norms to be complied.

Security Details:
--------------------
Property 1
12 SBB OVERDRAFT
Extension of EM of residential land and building at Mouza Pendrabera, Thana no 28, Halka no 6, P
S Gamharia , Khata no 71, Plot no 775/ Andar, Kisim Purani Parti Area 12.50 Decimals owned by
Mrs Anita Pradhan
Extension of EM of residential land and building at Mouza Pendrabera, Thana no 28, Halka no 6, P
13 SBB OVERDRAFT
S Gamharia , Khata no 71, Plot no 775/ Andar, Kisim Purani Parti Area 6.00

Sanction Letter PRADHAN CONSTRUCTION Page 3 of 9

Ref No. : 81468529

13 SBB OVERDRAFT Decimals owned by Mr Deo Charan Pradhan

Property 2
Extension of EM over Residential Property admeasuring 10890 Sqft located at District-Seraikela-
14 SBB OVERDRAFT Kharsawan, Mouza- Chhota Gamharia, Thana -Gamharia, Thana No-67, Halka No-2, Khata No-
40, Plot No-470/part, Khata No-41, Plot no-469/Part in the name of Priya Kumari Pradhan(D/o Mr.
Dev Charan Pradhan)

Specified Terms & Conditions :

S.No Product Description Specified Terms & Condition

Borrower to submit valid copy of insurance of the property, equipment,
stock and other assets duly charged in favour of Axis Bank. Further
borrower to ensure that fresh copy of insurance is provided to the bank
within 7 days before the expiry of insurance policy. In case Borrower fails
to renew the insurance on all \ any of the property \ assets forming part
of the security hypothecated \ mortgaged \ charged to Axis Bank and
provide a copy of renewal policy \ policies, it shall be lawful but not
obligatory for Axis Bank to renew the insurance and keep the same
insured. Axis Bank may exercise the right (at its discretion) to debit the
1 SBB OVERDRAFT premium amount from the existing CC \ OD account in case Axis Bank is
not in receipt of the renewal policy documents. If said accounts do not
have sufficient balance, Borrower will be liable to repay all amounts spent
or incurred by Axis Bank in doing so, with interest at the rate applicable
for the facility, on demand and till the time it is so paid, such amount will
form part of the secured facility, It is clarified that there is no obligation on
Axis Bank and will be its sole discretion to renew the policy \ policies or
debit the premium amount from your existing CC \ OD account.

Repo Rate as applicable on the date of disbursement and the same shall
be reset every 3 months or as decided by the Bank, whichever is earlier.

Bank shall publish the Repo Rate on a monthly basis. Prevailing month.
Repo Rate will be displayed on Axis Bank website

http: \ \ www.axisbank.com \ .

It shall be the responsibility of the borrower(s) to inquire or avail from Axis

Bank the details thereof on the reset date specified in the agreement.

2 SBB OVERDRAFT
Your account opened in a particular month shall be linked to the Repo
Rate prevailing for that month.

The Repo Rate prevailing on the day the account is opened and the credit
limit is set up by the Bank for utilization will be applicable till the next reset
date, irrespective of the changes in the benchmark during the interim
period.

Bank is entitled to change the reset frequency at any point of time.

Equitable \ registered Mortgage to be created and cost to be borne by the

3 SBB OVERDRAFT customer. (Applicable only where property taken as security)

Facility is subject to satisfactory compliance of all terms and conditions as

stipulated in the legal opinion report, the title of which should be clear and
4 SBB OVERDRAFT marketable given by the banks approved lawyer. (Applicable only where
property taken as security)

Facility account will be setup subject to legal and technical clearance of

5 SBB OVERDRAFT the property to be mortgaged, as assessed by Axis Bank Limited.

The quantum of facility amount will be based on a satisfactory valuation

6 SBB OVERDRAFT
report from the banks approved valuer.
The security charged to the Bank including stock, property, etc. should be
7 SBB OVERDRAFT comprehensively insured (fire, riots and other hazards like earthquake,
floods, etc.) with Bank Clause and the policy

Sanction Letter PRADHAN CONSTRUCTION Page 4 of 9

Ref No. : 81468529

document \ a copy of the policy document to be submitted for Banks

7 SBB OVERDRAFT
record.
The property shall be well maintained at all times and during the
pendency of the loan if the property suffers any loss on account of natural
8 SBB OVERDRAFT calamities or due to riots etc., the same should be intimated to the bank
without fail.

You shall not voluntarily cause any harm to the property that may in any
way be detrimental to the interests of the Bank. You shall make up for any
9 SBB OVERDRAFT loss incurred to the bank on account of any damages occurring to the
property due to deviation from the approved plan.

10 SBB OVERDRAFT You will ensure that the property tax is promptly paid.
You will not be entitled to sell, mortgage, lease, surrender or alienate the
11 SBB OVERDRAFT mortgaged property, or any part thereof, during the subsistence of the
mortgage without prior intimation to the Bank.
Pre-Payment Charges

Pre-payment Charges
1. For Secured Term Loans - 2% of Principal Outstanding
2. CC or OD Facility - 2% of Sanction Limit

12 SBB OVERDRAFT Part Pre-payment Charges

For Secured Term Loans - 1% of pre-paid amount

In case of Micro and Small Enterprises (MSE) customers, no Prepayment

charges are applicable if,
1. Loan amount is up to Rs.50 Lakhs under Fixed rate loans, or
2. Loans with floating interest rates (irrespective of the loan limit).
13 SBB OVERDRAFT The Processing Fees and \ or Login Fees are non-refundable.
The Bank is authorised to debit Processing fees and other charges \
14 SBB OVERDRAFT insurance premium mentioned in the sanction letter from the account \ s
of the firm company maintained with the Bank.
The Borrower and Security Providers shall be deemed to have given their
express consent to the Bank to disclose the information and data
furnished by them to the Bank and also those regarding the credit facility
or facilities enjoyed by the borrower, conduct of accounts and guarantee
15 SBB OVERDRAFT obligations undertaken by guarantor to the Credit Information Companies
, or any other credit bureau or RBI or any other agencies specified by RBI
who are authorized to seek and publish information, upon signing the
copy of the sanction letter.

The Bank also reserves the right to assign, securitize or otherwise

transfer the loan hereby agreed to be granted or a portion thereof to any
person or third party assignee without any notice or consent along with or
without underlying security or securities whether movable and or
16 SBB OVERDRAFT immovable created or to be created for the benefit of the Bank and
pursuant to which the assignee shall be entitled to all or any rights and
benefits under the loan and other agreements and or the security or
securities created or to be created by me or us or the security providers.

In the event of any change of address for communication, any change in

17 SBB OVERDRAFT job, profession by you or the guarantors, the same should be intimated to
the Bank, immediately.
General undertaking to be taken from borrower are as mentioned below.
A. That the Firm not to pay any consideration by way of commission,
brokerage, fees or any other form to guarantors directly or indirectly in lieu
of guarantee for the loan facility.
B. That working capital funds would not be diverted for long term use.
C. That none of the directors of Axis Bank or their relatives as defined in
the RBI Master Circular Loans and Advances Statutory and Other
Restrictions is a director or partner, manager, managing agent, employee
or guarantor of the borrower or of a subsidiary of the borrower or of the
holding company of the borrower and that none of them hold substantial
18 SBB OVERDRAFT interest in the borrower or its subsidiary or its holding company.
D. That to the best of the borrowers knowledge none of the directors of
any other bank or the subsidiaries of the banks or trustees of mutual
funds or venture capital funds set up by the banks or their relatives as
defined in the RBI Master Circular Loans and Advances Statutory and
Other Restrictions is a director or partner, manager, managing agent,
employee or guarantor of the borrower or its subsidiary or its holding
company and that none of

Sanction Letter PRADHAN CONSTRUCTION Page 5 of 9

Ref No. : 81468529

them holds substantial interest in the borrower or its subsidiary or its

holding company.
E. That to the best of the borrowers knowledge none of senior officials of
the bank or the participating banks under consortium or their relatives as
defined in the RBI Master Circular Loans and Advances Statutory and
Other Restrictions is a director or partner, manager, managing agent,
18 SBB OVERDRAFT
employee or guarantor of the borrower or its subsidiary or its holding
company and that none of them hold substantial interest in the borrower
or its subsidiary or its holding company.
F. That in case if any of the above requirement is breached, the borrower
shall inform of the Bank the same immediately.

In case of takeover of loans against the property to be mortgaged to us,

the EM or RM should be created within 60 days from the date of first
disbursement beyond which penal charge of 1% p.a. above applicable
interest rate or commission from the date of each non-financial default on
19 SBB OVERDRAFT the outstanding amount of fund-based credit facility will be charged. There
shall be no capitalisation of Penal Charge. The said Penal Charge will be
subject to GST as per applicable law on Goods and Service Tax in India,
and GST will be charged separately.

The borrower shall ensure that commensurate share of businesses such

20 SBB OVERDRAFT as cash management service, foreign exchange and employee salary
accounts are routed through the bank.
Borrower must close other banks Current Account within the defined
timeline, wherever mandated by the underwriter. Non-compliance to this
will attract penal charge of 1% p.a. above applicable interest rate or
commission from the date of each non-financial default on the outstanding
21 SBB OVERDRAFT
amount of fund-based credit facility. There shall be no capitalisation of
Penal Charge. The said Penal Charge will be subject to GST as per
applicable law on Goods and Service Tax in India, and GST will be
charged separately.
The borrower shall pay the charges to the bank as per the Banks
standard schedule of charges (which schedule of charges is subject to
changes, additions or corrections from time to time) for various services
rendered by the Bank. The Banks schedule of charges for various
services is enclosed. The Bank reserves the right to revise the schedule
22 SBB OVERDRAFT
of charges from time to time. Any changes to the Banks schedule of
charges will be notified to the borrower 30 days prior to implementing the
revised charges. The borrower acknowledges and agrees to pay charges
as per revised schedule of charges of the Bank.

Penal charges at 1% p.a. from the date of each Non-Financial default

listed below will be charged on the outstanding loan amount for the period
of default (as per applicability).

1. Failure to submit insurance policy of primary or collateral property

within 1(one) month from the date of disbursement in case of new
policy(\ies) and 1(one) month from the date of expiry in case of existing
insurance policy(\ies)
AND\OR
2. Failure to submit LEI details by the Borrower, if applicable, within the
stipulated timelines as prescribed by the Bank during onboarding and
before expiry of LEI
AND\OR
3. Failure to submit UFCE Certificate details by the Borrower, if
applicable, within the stipulated timelines as prescribed by the Bank.
AND\OR
4. Delay\Non-submission of Acknowledgement of Debt by the Borrower
23 SBB OVERDRAFT
within stipulated timelines
AND\OR
5. Delay\Non-submission of Udyam Registration Certificate (URC) by the
Borrower within stipulated timelines
AND\OR
6. In the event Borrower breaches the condition regarding routing of
proportionate turnover upto minimum 2x credits (Annual cumulative
credits) of the sanctioned limit during every year of the Facility tenure
through Axis Bank
AND\OR
7. Delay\Non-submission of Notice of Intimation (NOI) to SRO by the
Borrower, if applicable, within stipulated timelines
AND\OR
8. In the event of breach of condition relating to closure of other banks
current accounts within the defined timeline, wherever prescribed by the
underwriter in the sanction letter.

The interest rate will be reset on the 25th of the last month of each
24 SBB OVERDRAFT
calendar quarter i.e. 25th March ,25th June ,25th Sep and 25th

Sanction Letter PRADHAN CONSTRUCTION Page 6 of 9

Ref No. : 81468529

Dec. To clarify, the cumulative effect of all (both increase or decrease)

24 SBB OVERDRAFT changes in Repo rate in a particular quarter will be passed\come in force
on the aforesaid dates.
The Bank shall have a lien and right of set-off on all moneys belonging to
the Borrower standing to their credit in any account whatsoever with the
Bank. If upon demand by the Bank the balance outstanding in the Credit
Facility account is not repaid within the prescribed time, such credit
25 SBB OVERDRAFT
balance in any account may be adjusted towards dues under the Credit
Facility account. In case of any deficit, the deficit amount may be
recovered by the Bank from the Borrower.

In Balance Transfer (BT) cases, Processing fees to be paid upfront by the

26 SBB OVERDRAFT
borrower.
Standard Terms & Conditions :

S.No Standard Terms & Condition

The facility is subject to the borrower furnishing any information or documents or to submit or execute the relevant post
1 disbursement documents, as required by the Bank.
2 End use declaration signed by applicant and all co-applicants (if any) to be submitted before limit setup.
The rate of interest applicable to the facility shall be prevailing on the date of disbursement and as stated in the Schedule to the
3 Loan agreement.
All facilities now sanctioned will be due for renewal after the end of the expiry period. You are required to furnish documents
and information as may be required by the bank two months prior to the date of renewal or review. In case of expiry of working
capital limits, Penal charge of 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not
4 exceeding Rs. 1,00,000 per instance) will be levied. There shall be no capitalisation of Penal Charges. The said Penal Charges
will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately.

Notwithstanding what is contained elsewhere in the facility document \ loan document and \ or any other documents, which
have been \ will be executed by the Bank and the Borrower, Borrower is aware of the fact that the Bank at its sole discretion,
5 without assigning any reason or without prior notice, can cancel and \ or withdraw the unavailed limit as sanctioned by the
Bank. The said withdrawal shall not absolve the borrower of any of its liability to repay the availed amount

The borrower shall pay the charges to the bank as per the Banks standard schedule of charges for various services rendered
6 by the Bank. The Bank's Schedule of charges for various services is enclosed.
The Borrower(s) hereby agree(s) and confirms that AXIS Bank shall have the absolute right to levy such charges as it may
deem fit including but not limited to Cheque bounce \ return and any other penal charges for the delayed \ late payment or
otherwise. The Borrower(s) agree(s) that in the event of such a levy, the Borrower(s) shall forthwith pay the said amount
without demur or protest and that it shall not object to such levy nor claim waiver of or make a claim or a defense that the same
7 was not brought to his \ her \ their notice. The Borrower(s) is \ are aware of the fact that it is not mandatory for AXIS Bank to
inform either in advance or subsequently of the said levy and \ or change in the levy or introduction of such levy. It shall be the
responsibility of the Borrower(s) to enquire or avail from AXIS Bank the details thereof.

The Bank may at its sole discretion disclose such information to such institution(s) \ bank in connection with the credit facilities
8 granted to the borrower.
The Bank will have the right to examine at all times, the borrower's books of accounts and to have the its offices \ sites \ factory
(ies) \ stocking points inspected from time to time by officer(s) of the bank and \ or qualified auditors and \ or technical
9 experts and \ or management consultants of the Bank's choice. Cost of such inspection shall be borne by the borrower.

During the currency of the Bank's facilities, the borrower will not without the permission of the Bank in writing a)Effect any
change in management structure b)Formulate any scheme of amalgamation with any other borrower \ third party or
reconstitution any borrower or third party c)Invest by way of share capital in or lend or advance funds to place deposits with any
other concerns, except in normal course of business or as advances to employees d)Declare dividends for any year except out
10 of profits relating to that year after making all due and necessary provisions and provided further that no default had occurred in
any repayment obligations e)Grant Loans to Promoters \ associates and other companies f)Undertake guarantee obligations on
behalf of any other borrower or any third party except in normal course of its business g)Withdraw monies brought in by key
promoters \ depositors h)Make any drastic change in its management set up

The borrower will keep the Bank informed of the happening of any event, likely to have a substantial effect on their production,
11 sales, profits, etc., such as labour problem, power cut, etc., and the remedial steps proposed to be taken by it.

The borrower will keep the Bank advised of any circumstances adversely affecting the financial position of its subsidiaries \
12 sister concerns (if any) including any action, taken by any creditor against any of the subsidiaries.
The borrower shall furnish to the Bank, every year, two copies of audited \ unaudited financial statements immediately on being
13 published \ signed by the auditors \ certified by CA.
The borrower shall provide ancillary business wherever possible to the Bank such as CMS, Salary Accounts, credit card
14 acquisition business, etc.
15 The interest per annum means interest for 365 days irrespective of leap year
The credit facilities shall not be transferred \ assigned by the borrower to any other entity without permission of the bank. In
16 case there is any transfer \ assignment the loan shall be recalled at the sole discretion of the bank.
Please note that the Bank shall not renew \ enhance the limit granted or to be granted to you otherwise than at the Bank's sole
and absolute discretion and in no circumstances the loan amount shall at any one time exceed in the aggregate with interest
17 thereon and other costs, if any, such limit as the Bank may, from time to time, decide in respect of each facility or in the
aggregate.

Sanction Letter PRADHAN CONSTRUCTION Page 7 of 9

Ref No. : 81468529
The Bank reserves the right to discontinue the facility and to withhold \ stop any disbursement without giving any notice in case
of non-compliance \ breach of any terms and conditions stipulated herein and from time to time as also in the relevant
18 documents or any information \ particulars furnished to us is found to be incorrect or in case of any development or situations in
the opinion of the bank, its interest will be \ is likely to be prejudicially affected by such continuation or disbursement.

a. The Bank reserves the right to revise the spread over Base Rate \ G-Sec \ LIBOR \ MCLR (any other benchmark rate fixed
by the Bank) on the facility
b. Bank shall have absolute right to decide and apply the spread over the Repo Rate, Spread shall consist of credit risk
premium (which is subject to change in case there is substantial change in the Borrowers credit assessment as agreed in this
19 T&C), operating costs and other costs. The same will be reset periodically once in three years from the date of disbursement.
c. The credit risk premium of the borrower shall be reviewed by the bank at regular intervals and shall undergo a revision in
case of a substantial change in the borrowers credit assessment.

In the event of the borrower committing default in the repayment of term loan installments or payment of interest on due dates,
Axis Bank shall have an unqualified right to disclose the names of the Borrower and its directors to the Reserve Bank of India
(RBI). The borrower shall give its consent to Axis Bank and \ or to RBI to publish its name and the names of its directors as
20 defaulters in such manner and through such medium as Axis Bank in their absolute discretion may think fit. The aforesaid right
shall be available to Axis Bank in addition to and not in derogation of any other rights available under the Loan Agreement or
the General Conditions, as the case may be.
21 The credit facilities granted will be subject to RBI guidelines \ Bank's policies from time to time.
The loan shall be utilized for the purpose for which it is sanctioned and it should not be utilized for a)Subscription to or purchase
of Shares \ Debentures b)Extending loans to subsidiary companies or for making inter-corporate deposits c)Any Speculative
22 purposes d)Investment in capital market e)Adjustment \ payment of any debt deemed bad or doubtful for recovery.

The borrower shall maintain adequate books and records which should correctly reflect their financial position and operations
23 and it should submit to the Bank at regular intervals such statements as may be prescribed by the Bank in terms of the RBI \
Bank's instructions issued from time to time.
The sanction does not vest with the Borrower any right to claim any damages against the Bank for any reason whatsoever.
24
The Bank has a right to cancel \ suspend \ reduce any of the borrowing \ banking facility so granted and to alter \ amend \
25 vary the terms of Bank's sanction including the rate of interest \ margin \ repayment period at the Bank's sole discretion without
having to assign any reason.
ROI and renewal fees shall be applicable at the time of renewal of the facility as per Banks policy and shall be communicated at
26 the time of renewal.
The facility documents shall also include TOD, if any, given to the borrower with justifiable reasons in the TOD application. The
27 rate of interest for TOD, if any, shall be 2% over and above the applicable rate.
28 The borrower shall arrange for inspection of the unit by Bank's officials, at its cost, as and when required.
The company needs to file necessary charges \ modification of charges with the Registrar of Companies (as applicable) within
29 30 days of creation \ modification of charges and certificate of Registration \ modification of charge shall be submitted for our
records.
30 The borrower shall adhere to any other covenants stipulated by the Bank from time to time.
Any other terms and conditions, which are not specifically covered herein but stipulated in the sanction, should be strictly
31 complied with.
32 AXIS BANK is entitled to add to, delete or modify all or any of the aforesaid terms and conditions.
This sanction letter shall remain in force till the validity period mentioned in this sanction letter from date of sanction. However,
33 the revalidation is subject to and at the sole discretion of the bank, on application of the borrower \ s.

34 The loan \ facility is at sole discretion of the Bank.

For cases where charge was registered with Registrar of Companies for securities proposed with Axis Bank, borrower will
35 arrange satisfaction of charge post security creation with Axis Bank.
CERSAI charges for registration of security interest will be levied as follows,

Non refundable charges levied by Central Registry of Securitization of Asset Reconstruction and Security Interest of India. For
Registration of Individual Security Primary and or Collateral created in favour of AXIS Bank
36
i. When facility amount is equal to Rs 5 lacs or lesser, Rs 50 plus GST

ii. When facility amount is greater than Rs 5 Lacs, Rs 100 plus GST
Borrower to submit valid copy of insurance of the property, equipment, stock and other assets duly charged in favour of Axis
Bank. Further borrower to ensure that fresh copy of insurance is provided to the bank within 7 days before the expiry of
insurance policy. In case Borrower fails to renew the insurance on all \ any of the property \ assets forming part of the
security hypothecated \ mortgaged \ charged to Axis Bank and provide a copy of renewal policy \ policies, it shall be lawful
but not obligatory for Axis Bank to renew the insurance and keep the same insured. Axis Bank may exercise the right (at its
37 discretion) to debit the premium amount from the existing CC \ OD account in case Axis Bank is not in receipt of the renewal
policy documents. If said accounts do not have sufficient balance, Borrower will be liable to repay all amounts spent or incurred
by Axis Bank in doing so, with interest at the rate applicable for the facility, on demand and till the time it is so paid, such
amount will form part of the secured facility, It is clarified that there is no obligation on Axis Bank and will be its sole discretion
to renew the policy \ policies or debit the premium amount from your existing CC \ OD account.

Recovery of Interest \ Installment:

38 In event of overdue unserviced interest \ installment amount, bank reserves the right to recover the overdue amount on or
after 6th of the subsequent month from your linked account under the same Customer ID.

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Ref No. : 81468529
Interest to be serviced within 5 days of the interest application even if utilization is with in sanctioned limit for all products except
39 term loan.
In case of working capital facility, bank at its sole discretion can convert the facility in to Dropline facility where limit will be
reduced at monthly interval or any other frequency if the conduct of the account is found unsatisfactory.In the event the facility
is converted into Dropline facility, the Borrower undertakes to execute appropriate documents as may be required by the
40 Bank.In case such conversion of the facility to dropline facility is not acceptable, the Borrower may opt for closure of the said
facility by payment of all the outstanding dues in respect of the facility.

PENAL CHARGES
1. Any excess drawing (other than what has been specifically approved in the scheme) will attract Penal charge of 8% p.a.
above applicable interest rate on the overdue amount (subject to the aggregate not exceeding Rs. 1,00,000 per instance).
There shall be no capitalisation of Penal Charges. The said Penal Charges will be subject to GST as per applicable law on
Goods and Service Tax in India, and GST will be charged separately.
2. Any irregularity on account of non-payment of interest or instalment on due date or Non-realization of bills on the date of
payment will attract a Penal Charge of 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate
41 not exceeding Rs. 1,00,000 per instance). There shall be no capitalisation of Penal Charges. The said Penal Charges will be
subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately.
3. Non-Compliance with the terms of sanction will attract penal charge of 1% p.a. above applicable interest rate or commission
from the date of each non-financial default on the outstanding amount of fund-based credit facilities. There shall be no
capitalisation of Penal Charges. The said Penal Charges will be subject to GST as per applicable law on Goods and Service
Tax in India, and GST will be charged separately.

The Fair Practice Code for the Lenders as published on the Axis Bank's Website, shall apply to the Loan. Copy of the Fair
Practice Code for lender is available on the Bank's website.
42 Https: \ \ www.axisbank.com \ doc \ default-source \ default-document-library \ fair-practice-code-for-lenders.pdf

***** END *****

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