TRUE CREDITS PRIVATE LIMITED

Huda City Centre Metro Station 5th floor, Sector - 29 Gurgaon, Haryana 122001, India
CIN : U65190HR2017PTC070653, NBFC Registration No. - N-14.03510

Loan Sanction Letter

Date: 18/12/2023
Ref:TBLV13-31218-6399375
(Loan ID : 46399375)

SALMA
HOUSE NO 746,LAXMAN COLONI,
FARIDABAD, Faridabad,
HR, 121101, India

Dear SALMA
This letter is made in reference to your loan application number TBLV13-31218-6399375 dated 18/12/2023.
Based on the information you provided in your loan application, we, True Credits Private Limited (“True
Credits” or “Lender”), are pleased to inform you of the approval of your loan and offer you based on the
following terms and conditions:

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 Key fact sheet

Date Name of the Regulated entity Applicant Name

18/12/2023 True Credits Private Limited SALMA

Sr. No. Parameter Details

(i) Loan amount Rs. 2896
Total interest charge during the entire tenor of Rs. 289
(ii)
the loan
(iii) Other up-front charges, if any. Rs. 444
Rs. 444, including the GST of Rs. 68
(a) Processing fees (inclusive of GST @18%)
(13.000% of loan amount excluding the GST)
(b) Insurance charges NIL
(c) Others: NIL
(iv) Net disbursed amount ((i)-(iii)) Rs. 2452
Total amount to be paid by the borrower (sum Rs. 3185
(v)
of (i), (ii))
(vi) Annualised rate of interest 58.80% per annum (4.90% per month)
Annual Percentage Rate (APR)– 150.71
[Effective annualized interest rate (in percentage) (computed on net
(vii)
disbursed amount using IRR approach and reducing balance
method) ]*
(viii) Tenor of the Loan 3 month(s)
(ix) Installment frequency Monthly
(x) Number of installments 3
(xi) Amount of each installment of repayment Rs. 1060
Details about Contingent Charges
Rate of annualized penal charges in case of 109.5% per annum on principal outstanding
(xii)
delayed payments
(xiii) Rate of annualized other penal charges NIL
Other disclosures
Cooling off/look-up period during which 3 days**
(xiv) borrower shall not be charged any penalty on
prepayment of loan
Details of LSP acting as recovery agent and https://www.truecredits.in/lsps-dla
(xv)
authorized to approach the borrower

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 1. Lender: True Credits Private Limited
a. Name: Mr. Nikhil Niranjan
b. Designation - Grievance Redressal
Officer
c. Email Id: grievance@truecredits.in
d. Contact No.: +91 7428196828 (Monday
to Friday except Public Holidays;
Timing : 9:30 AM to 6:00 PM)
e. Address: 5th Floor, Huda City Centre
Metro Station, Sector - 29, Gurugram,
Haryana - 122001
f. Privacy Policy - https://www.truecredits.
in/privacy-policy
2. Digital Lending App (DLA) and Lending
Service Provider (LSP) - Balancehero India
Name, designation, address and phone number Private Limited
of nodal grievance redressal officer designated a. Name: Ms.Anjali Kapoor
(xvi)
specifically to deal with FinTech/ digital b. Designation - Grievance Redressal
lending related complaints/ issues Officer
c. Email Id: terms@balancehero.com
d. Contact No.: +91 7428196828 (Monday
to Friday except Public Holidays;
Timing : 9:30 AM to 6:00 PM)
e. Address: 5th Floor, Huda City Centre
Metro Station, Sector - 29, Gurugram,
Haryana - 122001
f. Privacy Policy - https://www.
truebalance.io/privacy-policy
3. Others LSPs
a. Please refer below link to find details of
respective LSPs Grievance Redressal
Officer (GRO) details and Privacy
Policy: https://www.truecredits.in/lsps-
dla
Recovery Mechanism
Terms and Conditions of recovery mechanism:

As a part of the routine recovery process, the Company sends SMS/ Email/ App Notifications/
Calls etc. along with payment link to customers as a follow up reminder for making loan
repayments.

Once a customer's loan account turns overdue, then the details of such loan accounts and
customer, who has defaulted, are provided to TCPL's Collection Agents for regular telephonic/
field follow-up.
(xvii)
Parallelly legal actions may also be taken up such as loan recall notice, Sec 25 of Payment and
Settlement Systems Act 2007/ 138 of Negotiable Instruments Act 1881 and/or arbitration, as the
case may be.

Further, for cases where such customer is not contactable/ traceable, as required, the activities
like skip tracing, or field visit, and/or any other measures, as per applicable law, may also be
conducted by the Company.

Wherever feasible (both commercial & legally), an option to settle the outstanding loans, may
also be considered at the sole discretion of the Company.
* GST charged on Processing Fees @18% is excluded from calculation of APR

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 Detailed Repayment Schedule
(Below is indicative since, repayment schedule will depend on actual date of disbursement)

Instalment EMI Due Outstanding Principal (in Interest (in Instalment

No. Date Principal (in Rupees) Rupees) (in Rupees)
Rupees)
1 18/01/2024 Rs. 2896 Rs. 916 Rs. 144 Rs. 1060
2 18/02/2024 Rs. 1980 Rs. 962 Rs. 98 Rs. 1060
3 18/03/2024 Rs. 1018 Rs. 1018 Rs. 47 Rs. 1065

SMA/ NPA Classification

As per the applicable regulatory guidelines, our company classifies loans granted in
respect of which instalment(s) has turned overdue under various categories as detailed
under:

SMA 0: Upto 30 days

SMA 1: from 31 to 60 days
SMA 2: from 61 to 90 days
NPA: more than 180/ 150/ 120/ 90 days (Considering the applicable norm to company for
NPA classification )

Example:

If due date of a loan account is March 31, 2021, and full dues are not received before the
Company runs the day-end process for this date, the date of overdue shall be March 31,
2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon
running day-end process on April 30, 2021, i.e., upon completion of 30 days of being
continuously overdue. Accordingly, the date of SMA-1 classification for that account shall
be April 30, 2021.

Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon
running day-end process on May 30, 2021 and if continues to remain overdue further, it
shall get classified as NPA upon running day-end process as per extant asset classification
norms.

Digitally Signed by DS TRUE CREDITS PRIVATE

LIMITED 1
Timestamp: 18/12/2023 12:56:20 UTC

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

Other terms and condition:

1. Loan disbursement will be made to bank account provided by you while applying for loan.
2. This loan sanction can be revoked and/ or canceled on the sole discretion of the Lender.
3. **Upon disbursement of loan, you shall have cooling off/ look-up period of 3 days from the date of
disbursement of loan during which you have option to exit from loan by pre-paying the outstanding
principal amount of loan, along with proportionate APR (if applicable), without any penalty (“Exit
Option”). The Lender shall at its sole discretion may levy / or waive levy of proportionate APR. In
case you proceed to pay any EMI during the cooling off/look-up period you shall be not eligible to
avail Exit Option during said cooling off/look-up period.
4. Your repayment schedule shall be depending upon the actual date of disbursement of loan. You are
advised to refer the repayment schedule provided at the time of disbursement of loan.
5. Annualized 109.5% penal interest will be charged in case of repayment overdue on the
principal due amount from the date of default.
6. You can make the pre-payment of Installment or foreclose the loan without any penalty/foreclosure
charges. However, interest will be charged for the entire period of loan in both the situation.
7. Interest rate will be charged on reducing balance basis.
8. You shall be required to bear and pay applicable stamp duty, charges levied by Central Registry of
Securitization Asset Reconstruction and Security Interest of India (CERSAI) and all other statutory
/ regulatory charges / taxes that are presently applicable and as may be made applicable from time
to time. Such charges shall be non-refundable.
9. True Credits offers different interest rate based on loan amount, tenor, down payment, payment
history with Lender or any other lender of borrower, credit score provided by credit information
companies, borrower's age, income, type of documents provided by the applicant and/or any other
information as may be required for the purpose of credit evaluation.
10. You understand and acknowledge that this loan has been granted with clear understanding that you
hereby waive all rights including without limitation, immunity in respect of any repayment of loan
by way of injunction or moratorium available to you in the capacity of borrower.
11. You understand and acknowledge that the language of this Sanction letter is known to you and that
you have read and understood the features of the loan product and the terms and conditions
mentioned herein and contained in any other loan documents and shall abide by them including any
amendment thereto, with free will and volition.
12. You understand and acknowledge the cost and charges associated with the loan and that once the
disbursement is made in your bank account, your loan cannot be withdrawn and reverted except as
otherwise permitted by the Company such as cooling-off cases.
13. In case of any query /complaint you can contact through our helpline number 0120-4001028 and
email cs@truecredits.in and if query does not resolve on the stipulated time, then you can further
approach the Grievance Redressal Officer as per redressal policy available on the company’s
website.
14. Please refer “Loan Application- Terms and Conditions” and “Terms and Conditions for obtaining
loans from True Credits Private Limited for terms and conditions applicable to this loan, a copy of
which has been provided to you and is also available at website of True Credits i.e.
https://truecredits.in/loan-application-terms-and-conditions/
15. Please refer to https://www.truecredits.in/privacy-policy for privacy policy of True Credits Private
Limited.
16. In case e-NACH mandate is applicable, you authorize True Credits to debit your account for
recovery of outstanding amount(s) in relation to your loan, as per the Loan Documents. You hereby
also agree that you will maintain sufficient funds in your bank account before your scheduled
payment Due Date.

For and Behalf of True Credits Private Limited

Authorised Signatory

Agreed and Accepted

Applicant Name, Digitally Accepted at

SALMA, 18/12/2023

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 TERMS AND CONDITIONS FOR OBTAINING LOANS FROM
TRUE CREDITS PRIVATE LIMITED
(Ver 2.2 Effective 30.Nov, 2022)

TRUE CREDITS PRIVATE LIMITED, a private company limited by shares incorporated under the
provisions of the Companies Act, 2013, as amended from time to time, which is duly registered
NBFC with Reserve Bank of India (RBI) (hereinafter referred as “TCPL”) may grant the Loan (as
defined herein below) only after approval of the prescribed Loan Application submitted by the
Borrower to TCPL. TCPL reserves its right to refuse or reject any Loan Application notwithstanding
the applicants satisfying the Eligibility Criteria (as defined herein below), if any, set by TCPL for the
approval of the Loan. The Borrower, who intends to obtain a Loan from TCPL either once or
multiple times, agrees and abides by these terms and conditions as amended from time to time
(hereinafter referred to as “T&C”). The Borrower further agrees to execute such necessary
documents or provide such necessary consent (either orally or in writing), as may be deemed
necessary by TCPL to give effect to the terms of this T&C. This T&C as agreed by the Borrower
shall be applicable and binding on the Borrower in respect of any and all kinds of Loans approved/
disbursed by TCPL in favour of the Borrower as amended from time to time under this T&C.

1. DEFINITIONS AND INTERPRETATION

1. Unless otherwise stated under this T&C, the following definitions apply throughout –
1. “Alternate Payment Channel” means the payment mode/ channel either
managed by TCPL, or by a third party duly authorised by TCPL, to receive
the Instalments and/ other dues from the Borrower in respect of the Loan.
2. “Applicable Law” shall mean any statute, regulation, notification, circular,
ordinance, court order, decree, judgment, direction, guideline, or other binding
action or requirement of an authority which has the force of law in India.
3. “APR” means effective annualized interest rate (in percentage) to be
computed on net disbursed amount using IRR approach and reducing balance
method.
4. “Automated Fund Transfer” shall mean and include transfer of funds through
electronic clearing service (debit), direct debit, automated clearing house
(debit) or any other permissible mode available from time to time for the
purpose of debiting the bank account of a Person on the basis of instructions
given by such Person either in writing or through any electronic media.
5. “Borrower” means the Person who applies for and/or obtains Loan from
TCPL (including but not limited to by using any of the Contact Options). The
name and address of the Borrower shall be mentioned in the Loan Documents
issued to the Borrower for each Loan from TCPL. For the purpose of this
T&C, the term ‘Borrower’ shall include the heirs, executors, administrators
and legal representatives of such Person.
6. “Cooling off/ Look-up Period” means the time window mentioned in the
Sanction Letter which shall be given to Borrower for exiting from Loans, in
case Borrower decides not to continue with the Loan.
7. “Documentation Fee” means the non-refundable fee, if any, charged for
preparing the Documents pertaining to the Loan of the Borrower, payment of
applicable stamp duty and other legal charges associated with Loan of the
Borrower and shall be paid by the Borrower at the time of disbursal of the
Loan.
8. “Due Date” means the date on or before which the Instalment(s) of the
respective Loan (s) become due and repayable by the Borrower to TCPL. The
Due Date for each Instalment of the Loan shall be specified in the Loan
Documents.

9. “Effective Date” in respect of each Loan obtained by the Borrower means,

unless specified otherwise, the respective date on which the Borrower consents
(whether orally or in writing) to obtain disbursement of respective Loan from
TCPL.
10. “Eligibility Criteria” means the minimum eligibility criteria set forth by TCPL
to judge the credit worthiness of the Borrower, which is subject to change from
time to time at the sole and absolute discretion of TCPL.
11. “Interest Amount” means the amount paid/to be paid by the Borrower to TCPL
over and above the Loan amount excluding the amount paid as the penalty,
fees, or any service charges/ fees of whatever nature under this T&C.
12. “Loan” refers to the amount of Personal Loan approved by TCPL from time to
time as stated in the Loan Documents on which interest is charged to the
Borrower.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 13. “Loan Application” means the application submitted by the Borrower digitally
to TCPL for applying for, and availing of, the Loan, together with all other
information, particulars, clarifications and declarations, if any, furnished by the
Borrower in connection with the Loan.
14. “Loan Document(s)” means this T&C, Loan Application, Sanction Letter,
Disbursal Letter, Loan Agreement, Mandate and consent form (as the case
may be) executed or accepted or agreed upon by the Borrower and all other
documents, instruments, certificates, and agreements executed and/or delivered
by the Borrower or any third party in connection with the Loan, including but
not limited to electronic records of any and all of the aforesaid.
15. “Sanction Letter” means the terms of the Loan issued or communicated by way
of any of the Contact Options by TCPL to the Borrower confirming the grant
of the Loan to the Borrower subject to the terms and conditions contained in
this T&C, the Sanction Letter and other applicable Loan Documents.
16. “Mandate” means the instructions given by the Borrower to debit his/her bank
account to make the payment to TCPL through Automated Fund Transfer for
all the Loans availed by the Borrower from TCPL from time to time.
17. “Outstanding Balance” in respect of each Loan obtained by the Borrower
means the balance of the respective Loan outstanding along with all amounts
payable by the Borrower to TCPL including principal amount, interest, fees,
costs, charges, expenses etc.
18. “Person” shall include any individual, Hindu Undivided Family (HUF),
partnership firm, company, body corporate, association, society or any other
legally recognized entity. The term “he, him and himself in this T & C includes
she, her and herself when the borrower is a woman.
19. “Personal Loan” shall mean the Loan, disbursed by TCPL directly to the
Borrower in the bank account of Borrower.
20. “Processing Fee” means the fees charged by TCPL to the Borrower as stated in
the Loan Documents for processing the Loan Application of the Borrower that
shall be paid by the Borrower at the time of disbursal of Loan.

2. LOAN AMOUNT
1. TCPL shall provide the Loan to the Borrower strictly in accordance with this T&C
and other terms & conditions mentioned in other Loan Documents executed by and/
or agreed upon by the Borrower. The amount of the Loan shall be mentioned in the
Loan Document provided to the Borrower in case of each approved Loan.
2. The Borrower hereby confirms and agrees that TCPL may disburse the whole amount
of the Loan or any part thereof, either in one lump sum or in such instalments as may
be decided by TCPL.
3. TCPL reserves the right to, and at its discretion shall be free to, recall the entire Loan
and all monies due and payable by the Borrower in respect of the Loan including
Interest Amount, fees, penalties etc., if any information supplied by the Borrower is
found to be incorrect or false or if the Borrower commits any default under this T&C
and/ or the other Loan Document (including the Sanction Letter) executed by and/ or
agreed upon by the Borrower.

3. RATE OF INTEREST
1. The rate of interest as applicable to each Loan obtained by the Borrower from time to
time shall be communicated to the Borrower before the approval of such Loan(s) by
TCPL either orally or in writing. The Interest Amount on the Loan has been/ shall be
calculated at reducing balance rate basis (referred to as “Reducing Interest Rate”) and
such Reducing Balance Interest Rate shall remain fixed during the period of Loan,
unless revised in accordance with this T & C. The Reducing Balance Interest Rate as
well as the Interest Amount applicable to each such Loan shall be expressly stated in
the Loan Documents of such Loan. The APR as applicable shall be communicated to
Borrower at the time of disbursement of Loan.
2. The Borrower confirms that he has reviewed and understood the internal guiding
principles and interest rate model of TCPL as available on the website of TCPL
(www.truecredits.in) for the purpose of determining and calculating rate of interest.
3. The Borrower understands that the Interest Amount is charged on the amount of the
Loan as stated in Loan Document and is likely to vary for different Borrowers and/ or
for different loans based on factors like cost of borrowed funds, cost of
disbursements, market conditions, Applicable Laws, default risk, period of loan,
purpose, advance paid by the Borrower and financial position disclosed by Borrower
while submitting the Loan Application. The Borrower undertakes that he has agreed
to pay the Interest Amount on the respective Loan(s) after considering such fact and
shall not dispute the same in future.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 4. Interest Amount in respect of each Loan will start accruing in favour of TCPL on and
from the respective Effective Date until the repayment of the Loan and all monies
due and payable by the Borrower in respect of the Loan, including Interest Amount,
fees, penalties etc., in full to the satisfaction of TCPL. In case the Interest Amount, if
charged for the period commencing from the Effective Date until the actual disbursal
of the Loan, shall be adjusted suitably by TCPL.
5. Interest Amount shall be computed on the basis of a year comprising of three
hundred and sixty days.

4. LOAN REPAYMENT
1. The Borrower undertakes to repay the amount of respective Loan(s) together with the
Interest Amount in specified number of instalments of the equal amount throughout
the tenure of each such Loan (hereinafter referred to as “Instalments”), if stated in the
Loan Documents not later than the respective Due Dates. The amount of EMI shall
be calculated by TCPL on the basis of Reducing Balance Interest Rate, the amount of
the Loan and tenure of the Loan and is rounded off to the next one rupee. The amount
of Instalment shall be expressly communicated to the Borrower and the Borrower has
agreed to the same after fully understanding the method of computation of the
Instalment and the number of Instalment payable on the Loan (including Advance
Instalment, if any, as specified in the Loan Document).
2. The Borrower may pay in advance such number of Instalments as agreed with TCPL
and specifically mentioned in the Sanction Letter and Loan Documents under any
particular Loan (referred as “Advance Instalments” in this T&C). TCPL shall adjust
the Advance Instalments, if any paid by the Borrower, towards any Outstanding
Balance in such manner and at such time as specifically described in the Loan
Document.
3. The Borrower shall continue to pay the Instalments not later than on the respective
Due Dates for each such Loan regardless of whether the purpose for which the Loan
is obtained could not be achieved and/ or any other circumstance whatsoever, or any
product purchased with the Loan is defective, returned, lost, damaged, under repair or
not working or not delivered or the purchase contract with any dealer is terminated
for any reason whatsoever.
4. Where any tax or other amount, including the interest thereon, is paid by TCPL on
behalf of the Borrower either to any government/tax or other public authority, or to
any dealer, or to any other Person concerned, whether relating to the any product
related to Loan or the Loan granted to the Borrower or pursuant to any legal
proceedings, at any time before, or after, or during the Loan is in existence, the
Borrower undertakes to reimburse the same to TCPL along with interest thereon as
set forth by the applicable law, or under an arrangement with any dealer, as the case
may be immediately on demand and in the manner specified by TCPL.

5. The Borrower agrees to pay the Instalment, penalties, fees and other sums due and
payable by the Borrower to TCPL by any of the following modes as approved by
TCPL considering the information provided by the Borrower:
1. Payment mode available in the mobile application used by TCPL.
2. Automated Fund Transfer
3. Alternate Payment Channel as indicated on mobile application used by TCPL/
or the website of TCPL
4. Any other mode as may be approved by TCPL in writing from time to time
and informed through Contact Options.
6. TCPL may, at its sole discretion, change the mode of payment adopted by the
Borrower and require the Borrower to make the payment as per the changed mode:
1. upon the request received from the Borrower and/ or as agreed with the
Borrower, or
2. in the event of default in repayment of the Loan or any part of the Outstanding
Balance by the Borrower, or
3. in case Mandate provided by the Borrower is found to be invalid or
incomplete.
7. Where the payment by the Borrower is made through Automated Fund Transfer, the
Borrower assures that
1. The Borrower shall maintain sufficient balance in the bank account from
which the payment shall be made.
2. The Borrower shall neither close the bank account nor give any direction to
his bank to stop the payment to TCPL without prior written consent of TCPL.
The Borrower shall be liable to solely bear and pay bounce fee/dishonour
charges and late payment charges imposed by TCPL without any protest. The
Borrower shall immediately inform TCPL of the said bank account is freezed
by any authority and alternatively arrange for alternate bank account for
making repayment on Due Date.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 3. Mandate shall not be withdrawn or cancelled by the Borrower without prior
written notice of at least 30 (thirty) days to TCPL. In the event the Mandate is
withdrawn or cancelled by the Borrower upon prior notice to TCPL and the
same is approved by TCPL, the Borrower unconditionally agrees to ensure the
payment through other channels and deliver to TCPL all documents proving
sufficiently such change or issue new Mandate with immediate effect.
4. Mandate given to TCPL shall remain valid until the complete repayment of
the Loan together with all Interest Amount, charges, penalties or any other
amount due to TCPL.
5. The Borrower shall immediately issue fresh Mandate when the Loan has been
restructured, or the Mandate is incorrect/ lost/ misplaced, or any other
circumstances have arisen that necessitate modification or change in the
existing Mandate. Until then the Borrower shall continue to make payments
through Alternate Payment Channels.
6. In the event of dishonour of transaction initiated through such Mandate, the
Borrower hereby authorises TCPL to present the Mandate again with the bank
of the Borrower for clearance/ payment any time at the sole discretion of
TCPL without any prior intimation to Borrower.
7. TCPL is hereby authorised to debit the bank account of the Borrower one
business day before the respective Due Date(s) in the event such Due Date(s)
falls on a bank holiday.
8. Where the Borrower agrees to make the payment through Alternate Payment Channel
or any other mode approved by TCPL, the Borrower undertakes that:
1. Such payment shall be made only to the Person or agency duly authorised in
writing by TCPL.
2. Any fee/ cost charged by such Persons or agencies authorised by TCPL for
receiving any amount payable by the Borrower under this T & C shall be
solely borne by the Borrower.
9. TCPL shall not be held responsible for delay or failure in payment of Instalments
caused due to the loss or damage of the Mandate or due to any default of the
collecting/ processing bank, or for any failure occurred in accepting and/ or crediting
such payment in favour of TCPL due to any discrepancy or non-functioning of the
outlets/ kiosks of such Person / agency and the Borrower shall be liable to solely bear
and pay late payment charges, as applicable, imposed by TCPL. The Borrower
understands and agrees that any such delay, non-performance, or default shall not
affect the liability of the Borrower to repay the Loan along with the Interest Amount,
fees and other charges. The Borrower shall be solely responsible to ensure that
respective Instalments are remitted to TCPL in time without any delay or default.

10. Notwithstanding anything contained under this T&C and/ or the other Loan
Documents (including the Sanction Letter) executed by and/ or agreed upon by the
Borrower, TCPL shall have the right to increase the number of Instalments and/ or
alter and/ or reschedule the Instalments and their amounts, resulting whether because
of (i) change in stamp duty, or any levy of any direct/indirect tax duties, cesses or
other charges by any government authority, or
(ii) at the request of the Borrower received in writing. TCPL shall have the absolute
right to decide the manner and the extent of such increase/ alteration/ re-scheduling
with prospective effect or, if decided so by the government authority in the respective
change, with retrospective effect. The Borrower expressly confirms to issue fresh
Mandate, or make the payment through Alternate Payment Channel or any other mode
approved by TCPL, based upon such increase
/alteration/rescheduling and, where such Instalments have been increased/ altered/
rescheduled at the request of the Borrower, to pay any applicable charges/ fees as
communicated to the Borrower or indicated on website of TCPL.
11. Unless otherwise decided by TCPL at its sole discretion, any amount paid, or prepaid,
by the Borrower, either as Instalment or otherwise, shall be adjusted first towards the
penalties and charges, if any due and payable by the Borrower, then towards the
overdue Instalment(s) and then towards balance of the Interest Amount and the Loan
principal amount respectively
12. The Borrower represents and undertakes to TCPL that the Borrower shall be solely
and absolutely liable for the repayment of the Outstanding Balance in respect of each
Loan from time to time and he would repay/ pay the same without any requirement of
any notice, demand or intimation by TCPL and the Borrower further undertakes and
confirms that he/she shall not withhold or be entitled to withhold the payments
demanded by TCPL and/or payment of any Instalment and/or any other amount
payable under the present T&C by the Borrower to TCPL, on any ground/dispute
whatsoever, including but not limited to the existence of any dispute including any
dispute relating to computation of Interest and/or Instalment.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

FEES, CHARGES AND OTHER PAYMENTS

5. FEES, CHARGES AND OTHER PAYMENTS
1. The Borrower confirms and undertakes that Processing Fee, Documentation Fee, if
any, or any other charges as applicable to each such Loan applied and/ or obtained as
requested by the Borrower from time to time shall be borne and paid by the Borrower
duly on time as per the terms and conditions of the Loan Document.
2. The Borrower confirms and undertakes that late payment charges/ default
interest, direct debit bounce fee and other charges/ penalties, as applicable to
each Loan obtained by the Borrower from time to time, shall be borne and paid
by the Borrower duly on time as per the terms and conditions of the Loan
Document. Further, the Borrower understands and agrees that TCPL has the
right to revise any such charges/ fees and penalties from time to time, the notice
of which may be given to the Borrower by posting the same on the website of
TCPL or through such Contract Options as decided by TCPL at its sole
discretion.

6. PRE-PAYMENT OF THE LOAN

1. Upon disbursement of Loan, the Borrower shall have Cooling off/ Look-up Period of
number of days as specified in Sanction Letter and other Loan Documents during
which Borrower shall have option to cancel/exit from Loan by pre-paying the
outstanding principal amount of loan, along with proportionate APR (if applicable),
without any penalty. TCPL shall at its sole discretion may levy / or waive levy of
proportionate APR during Cooling off/Look-up Period. The terms and conditions for
such prepayment during Cooling off/ Look- up period may be communicated by
TCPL separately to Borrower and Borrower hereby undertakes to comply with such
terms and conditions.
2. In case the Borrower intends to prepay all or any of the Loan(s)or any of their part
before the expiry of respective loan period, the Borrower has to give a prior notice to
TCPL in writing of his intention to prepay the Loan.
3. Except for Clause 6.1 above, for the purpose of pre-payment of the Loan, the
Borrower shall pay to TCPL the stipulated Instalments along with any applicable
penalties and charges due to be paid by the Borrower up to the date of such
prepayment as stated in the Loan Document or charged under this T&C and the Loan
principal outstanding calculated as per Clause 3.1 above. Further, any pre-payment of
any of the Loan(s) by the Borrower shall be subject to expiry of the minimum
moratorium period (i.e. period during which the loan cannot be terminated by
Borrower) as stated in the Loan Document, if any and the payment of prepayment
penalty as applicable to such Loan(s).
4. Notwithstanding the repayment schedule or conditions of this T&C, the Loan is
repayable on demand made by TCPL and TCPL shall have the right to be paid
immediately by the Borrower on demand, the entire Outstanding Balance in the event
the instruction or order to recall the Loan is issued by the concerned regulatory
authority or the court of law for any reason whatsoever. The Borrower shall make
payment of the entire Outstanding Balance immediately on such demand being
received from TCPL. In such an event, TCPL shall also be entitled to adjust any
amount of the Borrower lying in any other form with TCPL or any of its associates or
branches towards the dues of the Borrower under the Loan.

7. DEMAND PROMISSORY NOTE

1. In case the Borrower has executed Demand Promissory Note, in the form as
approved by TCPL in favour of TCPL, for the aggregate of the Loan amount and
Interest Amount, the Borrower undertakes that TCPL shall be entitled to negotiate
the Demand Promissory Note. The Borrower waives presentment and notice of
dishonour of the Demand Promissory Note.

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USE OF TELEPHONE/MOBILE, ONLINE, SMS, MOBILE APPLICATIONS AND

8. USE OF TELEPHONE/MOBILE, ONLINE, SMS, MOBILE APPLICATIONS AND

OTHER CONTACT OPTIONS FOR LOAN(S) AND OTHER SERVICES

1. This T&C also governs the use of any telephone (either through human interface or
AVR), fax, e-mail, short messaging service (sms), mobile applications, online
customer portal and/ or other options as made available by TCPL to its Borrowers
from time to time for availing Loans(s)/ services from TCPL (hereinafter all such
options are referred as “Contact Options”) and any consent provided, or agreement
entered into, by the Borrower (including but not limited to the consent to the
Sanction Letter and this T&C) by the use of any such Contact Options shall be valid
and binding on the Borrower. TCPL may, at its sole discretion, allow the Borrower to
apply for and/ or obtain Loan(s) or avail various other services/ facilities from TCPL
from time to time over any of the aforesaid Contact Options. All such applications, or
requests of the Borrower (including applications for Loan, acceptance of terms &
conditions for Loan(s) and order for services) to TCPL through any of the aforesaid
Contact Options shall be valid and binding upon the Borrower and shall constitute a
valid and binding contract between TCPL and the Borrower if the same is also
approved by TCPL. The Borrower authorizes TCPL to accept all the instructions/
applications/ requests made by Borrower through any of such Contact Options opted
by the Borrower for the purposes of considering, granting, approving, or disbursing
the Loan(s) by TCPL, as the case may be, as per the terms and conditions of this
T&C. Further, the Borrower agrees and confirms that all Loan Documents (including
but not limited to the Sanction Letter, the loan agreement with the enclosures in
respect of the Loan) sent by TCPL to the Borrower over any of the Contact Options
shall be valid and binding on the Borrower.

2. By referring to or using any of the Contact Options, the Borrower confirms that the
Borrower is doing such act for using the service for the purpose it is meant and no
other malicious intent. The Borrower agrees that the phone number, e-mail address
and other details provided by the Borrower, either in the Loan Application or
otherwise, for availing Contact Options or for any call-back is owned by and belong
to the Borrower only. The Borrower further confirms that the Sanction Letter, or
other Loan Document, or any information pertaining to the Loan of the Borrower,
shall be deemed to be received by the Borrower if sent by TCPL to the address of the
Borrower in physical form (through courier, post, or by hand) or if sent at the e-mail
address, mobile number, online customer portal, fax number or other contacts as
provided by the Borrower to TCPL.
3. The Borrower understands and agrees that accepting instructions, or approving the
Loan, through any of the Contact Options shall at all times be subject to the sole
discretion of TCPL and that TCPL may, at its sole discretion, refuse to act based on
such instructions. The Borrower acknowledges that the range of services/ Loan(s)
provided over the Contact Options may change from time to time. The Borrower
agrees that TCPL may add or discontinue anytime all or any of the Contact Options
for granting Loan(s) and other related services by sending notice/ communication to
the Borrower through e-mail/ sms/ phone call/ online customer portal or
communicate it through its website. The Borrower confirms that TCPL has the
absolute right to make changes in the terms and conditions for availing all or any of
the Contact Options. Borrower’s use of these Contact Options or related services
after the effective date of the change/ amendment of the terms and conditions of the
Contact Options will constitute Borrower’s acceptance of and agreement to such
change(s).

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 4. The Borrower agrees that, in the case of telephone communications (including AVR,
sms, mobile applications etc.) or online customer portal, as the case may be, TCPL
may require the Borrower to use/ enter a password allotted by TCPL to such
Borrower or may ask the Borrower questions about himself/herself and about
particulars of the Borrower’s account(s) including a personal identification number in
order to verify the Borrower’s identity and/ or may require a call-back procedure, all
as deemed appropriate by TCPL. The Borrower is obliged to keep any password and
any identification number designated by or provided to him/her hereunder as
confidential, and he/she shall be responsible for any consequence that may arise from
the use of such password by any other Person. TCPL shall not be liable in any
manner for access to the account of the Borrower by use of the user password by any
Person whomsoever. The Borrower irrevocably and unconditionally consents to
TCPL recording of all the Borrower’s electronic communication (e.g. telephone calls,
electronic mail, sms, mobile application or other) and storage of electronic media by
TCPL and accepts such recordings and electronic media as evidence with regard to
acceptance of all the terms of the Loan(s) including, but not limited to, the grant of
the Loan, levy of any fee/ charges, Interest Amount over each such Loan (s), rate of
Interest applicable on each such Loan, period for each such Loan borrowed by
Borrower and the number/ amount of Monthly Instalment Borrower has to pay to
TCPL for each such Loan). The Borrower further accepts that such record may be
used by TCPL as evidence in a court of law or any legal proceeding.
5. The Borrower understands and agrees that for the purposes of on-boarding/or Know
Your Customer (KYC) process, TCPL shall require access for camera, microphone,
location or any other facility of Borrower’s mobile phone used for applying for Loan, as
necessary for the purpose of on-boarding/ KYC process. The Borrower shall provide such
access to TCPL or its service provider/ agents so to complete such on-boarding/ KYC
process.
6. The Borrower understands and agrees that for the purpose of capturing economic
profile for evaluating credit worthiness of the Borrower or for any other process for
credit appraisal for Loan, TCPL shall require information of Borrower through
Contact Options and the Borrower shall provide access of same as per Applicable
Law.
7. It is also understood and agreed to by the Borrower that only the Borrower shall
communicate instructions over the Contact Options. TCPL does not have to accept
telephone/ mobile/ sms/e- mail instructions by a nominee of the Borrower, and the
Borrower will not allow anyone other than the Borrower to make telephone/ mobile/
sms/e-mail/ online customer portal instructions on his/her behalf.
8. The Borrower confirms that he/she is fully aware of and consents to the risks
associated with transmitting instructions/data for obtaining Loan(s)/ funds transfer
via Contact Options, or any other mobile facility. The Borrowers agrees that
confirmation of the Borrower’s identity, by the Borrower’s submission of the
personal details required by TCPL, will be sufficient evidence for TCPL to identify
the Borrower and to act upon the Borrower’s instructions. The Borrower authorizes
TCPL and directs TCPL to act upon instructions for funds transfer given via such
Contact Options purportedly issued by, believed by TCPL to be issued by or
originated from the Borrower as identified in the Loan Application or related
Documents.

9. The Borrower agrees that TCPL’s records (be they electronic, written or otherwise)
pertaining to each of the Loan obtained from TCPL will be final and binding and that
the Borrower shall not deny the validity of the transactions made in relation to the
Loan(s).
10. Before using any of the Contact Options, the Borrower is required to read and
electronically agree to (“sign”) related terms and conditions and/or disclosures.
11. TCPL may allot a user password for the Borrower and the Borrower agrees as
follows:
1. The user password may be communicated to the Borrower in such manner as
may be deemed fit by TCPL at the risk of the Borrower.
2. The Borrower shall not disclose the user password to any Person and shall
further prevent discovery of the same by any Person.
3. TCPL, may at its discretion allow the Borrower at any time to access the
details of the Loan and verify the statements and position based on the user
password issued.
4. In case of loss, theft and disclosure of the user password, the Borrower shall
communicate the same to TCPL and in any event not later than 48 hours.

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ASSIGNMENT AND SUB-CONTRACTING

 9. ASSIGNMENT AND SUB-CONTRACTING
1. TCPL shall be entitled to sell, transfer, assign, or securitize any of its right and
obligations hereunder to any Person without the consent of the Borrower. Any such
sale, assignment, securitization or transfer shall conclusively bind the Borrower. The
Borrower shall be bound to fulfil and perform all his/her obligations to such
transferee/ assignee, including the payment of Outstanding Balance. The Borrower
confirms and agrees that transferee/assignee shall be entitled to collect the due
amounts in respect of a Loan from the Borrower.
2. TCPL shall also have the right to share all information and documents relating to the
Borrower and/or the Loan amount availed by the Borrower and/ or the default
committed by the Borrower with the Person to whom TCPL has sold, assigned,
securitised or transferred in any other manner, all or any of the rights/ obligations of
TCPL as per this T&C and the Borrower confirms he/she has no objection if such
details, information and documents relating to the Borrower are so shared.
3. The Borrower expressly recognises and consents to the right of TCPL to appoint and
authorise one or more Persons, who may or may not be the employee or officer of
TCPL, to exercise any or all the rights/ powers of TCPL provided under this T&C,
whether relating to the administration, processing, collection, recovery of the
Outstanding Balance on behalf of TCPL, and to provide such Persons all or part of
the information/ data relating to the Borrower and/or the Loan availed by the
Borrower and/ or the default committed by the Borrower.
4. The Borrower shall not assign or sub-contract its rights and obligations under this
T&C to any other Person without the prior consent in writing of TCPL.

10. EVENTS OF DEFAULT

1. The Borrower shall be deemed to have committed default if the Borrower fails to
comply with this T&C or any other Loan Document. The events of default shall
include, but not limited to, following circumstances:
1. Any misrepresentation made, or wrong information provided, by the Borrower
to TCPL either orally or in writing in any of the Loan Documents provided to
TCPL or Borrower fails to furnish any information required by TCPL under
the Loan Documents; or
2. If the Loan is, directly or indirectly utilized for any illegal, anti-social or
speculative purpose, or for any purpose not permitted by the concerned
government authority; or
3. If the Borrower fails to comply with any of the covenants mentioned in this
T&C or any other Loan Document or as may be agreed upon with TCPL from
time to time, or any representation and/or warranty of the Borrower proves to
be illegal, invalid, misleading or untrue, or
4. If the Borrower takes any steps, or any steps are taken with a view to the
appointment of a receiver, trustee or similar officer of any of his/her assets; or
the Borrower commits an act of insolvency or makes an application for
declaring himself/herself an insolvent or an insolvency notice is served on the
Borrower, or an order is passed against the Borrower declaring him/her an
insolvent/ insane; or
5. If the Borrower is prosecuted in respect of any offence; or

6. If the Borrower fails to pay the Instalment, Interest Amount, penal charges, or
any other amount or any part thereof due to TCPL on the respective Due
Dates as required under this T&C or under any other agreement/ arrangement
for Loan taken from TCPL; or
7. If any security created for the Loan becomes infructuous or is challenged by
the Borrower or any other Person, or
8. If any other event has occurred which in the opinion of TCPL jeopardizes its
interest and would make it difficult for TCPL to recover the Outstanding
Balance.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

REMEDIES IN CASE OF DEFAULT

11. REMEDIES IN CASE OF DEFAULT
1. The Borrower acknowledges following rights of TCPL, arising either under this T&C
or provided under the Applicable Law, against one or more defaults made by the
Borrower, whereas these rights of TCPL shall become enforceable immediately on
the occurrence of any default–
1. Where the complete Instalment or any other Borrower’s dues are not paid to
TCPL on or before the respective Due Dates, TCPL may demand and collect
the penal charges and other charges on such delayed payment computed from
the respective Due Dates as stated in the Loan Document, for each of the
default.
2. To recall the entire Outstanding Balance and recover immediately the
Outstanding Balance in respect of each of the default.
3. Not to release the charge/ hypothecation created over the security, if any, in
case the Borrower has defaulted in repayment of any Loan of whatever nature
obtained from TCPL, until the repayment of entire Outstanding Balance and
to enforce such charge/ hypothecation so created for the purpose of recovery
of the Outstanding Balance.
4. TCPL shall have a paramount lien and right of set off on/ against (a) all
insurance proceeds whatsoever from the Security as and when created, (b) any
money to be paid/ refunded by TCPL to the Borrower arising out of any other
agreement/ arrangement as well as (c) all other monies, securities, deposits of
any kind and nature and all other assets and properties belonging to the
Borrower or standing to the Borrower’s credit (whether held singly or jointly
with any other Person), which are deposited with/under the control of TCPL
whether by way of security or otherwise pursuant to any contract entered/to be
entered into by the Borrower in any capacity and TCPL shall be entitled and
authorized to exercise such right of lien & set off against all such amounts and
assets for settlement of the Borrower's dues with or without any further notice
to the Borrower.
5. If required by TCPL in the event of Borrower’s failure to make the payment
through any of the mode provided under Clause 4.5 above, the Borrower shall
intimate and instruct his/her employer, in case the Borrower is employed, to
transfer every month from his
/her salary/ emoluments a specific sum (being the Payment) towards the
repayment of the Loan to TCPL. The Borrower confirms that TCPL shall have
the authority to approach his/her employer directly for repayment of Payment
and/or any other charges
/sums due from the Borrower to TCPL.
6. To initiate appropriate legal proceedings before the arbitrator appointed under
clause 16 of this Agreement or before Court of Law, as case may be, for
taking recourse to the legal remedies provided in Applicable Law in force
from time to time. The Borrower shall be liable to immediately reimburse the
entire cost to TCPL in respect of all legal/ arbitration proceedings, including
but not limited to, the fees of lawyers, court fees, legal notices, reminder
notices, letters, legal summons etc. without any dispute/ protest.
7. TCPL shall be entitled to exercise such other rights as may be available to it
under this T&C and/ or the other Loan Documents (including the Sanction
Letter) executed by and/ or agreed upon by the Borrower and/ or under
Applicable Law.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

2. TCPL may, apart from exercising all or any of the aforesaid rights in case of default
(s) caused by the Borrower, enforce following rights with respect to any security/
hypothecation, if any, created in favour of TCPL –
1. To send the notice in writing to the Borrower informing about such default
and/ or calling upon the Borrower to make payments of all the dues in respect
of the Loan and, if the Borrower fails to comply with such notice, TCPL shall
have right to take possession of the security if the dues remain unpaid within
seven days from the date of such notice.
2. If Borrower fails to comply with the demand of TCPL to hand over the
security to the representative of TCPL, TCPL shall have right as per the
Applicable Law to enter into any place or premises where such security is
situated or kept or stored, and for the purpose of such entry, to do all acts,
deeds or things as are deemed necessary by TCPL or its representatives and to
take charge and/or to seize, recover, receive and/or take possession of all or
any of the security.
3. Upon taking possession of the security, TCPL may call upon the Borrower to
repay and close the entire Loan amount with Interest Amount and all
applicable charges, fees, costs and penalties as per the Loan Document,
including expenses incurred for taking and/ or storing the possession of the
security (i.e. yard charges) before the sale/auction of the security within the
time specified by TCPL in such notice and if the Borrower honours and makes
the payment of the entire Loan amount with Interest Amount, fees, penalties,
costs and other applicable charges in accordance with such notice, TCPL shall
handover the subject of the Security to the Borrower provided this does not
bar TCPL rights to take such similar action for any future defaults made by
the Borrower.
4. In case the Borrower fails to comply with such requisitions and demand made
by TCPL as mentioned in this Clause 11, TCPL shall be at liberty to forthwith
or at any time, either by public auction or tender or private contract, to sell
and dispose off all or any part of the Security to any third party in such
manner as TCPL shall think fit without any further notice or intimation to the
Borrower. After selling/ disposing off the said security, if the sale proceeds
thereof is less than the total Outstanding Balance as on the date of such sale/
disposal, the Borrower shall be liable to pay such shortfall to TCPL within the
time period specified by TCPL. If Borrower fails to pay the Outstanding
Balance amount within the given time period, TCPL would be duly entitled to
recover the Outstanding Balance amount along with Interest Amount and
other charges from the Borrower as per law. It is hereby clarified that TCPL
would also be duly entitled to initiate proceedings for recovery of the
Outstanding Balance on the Loan even without first repossessing the security .
The Borrower undertakes and confirms that security repossessed by TCPL
shall be sold by TCPL on behalf of the Borrower and the transfer of
ownership in the security would be directly from the Borrower to the new
buyer. Any liability on account of value added tax, GST, sales tax, or any
other tax/ duty levied or imposed on such sale and paid by TCPL shall be
recovered by TCPL from Borrower either from the sale proceeds of the
security or in any other manner whatsoever.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 3. In case the Borrower commits default in the repayment of any sum owing under any
such Loan (including the payment of interest thereon) on the Due Date(s), TCPL and
/or the Reserve Bank of India will have an unqualified right to disclose or publish the
information and data relating to the Borrower and/or the Loan availed by the
Borrower and/ or the default committed by the Borrower to other banks, financial
institutions, the Credit Information Companies or any other authorised agency in
such manner and through such medium as TCPL or Reserve Bank of India in their
absolute discretion may think fit in accordance with the Applicable Law and the
Borrower agrees and gives consent for the disclosure, processing, or use of such
information/ data by TCPL/ Reserve Bank of India/ Credit Information Companies.
4. TCPL or its officers, agents or nominees shall not be in any way responsible for any
loss, damage, limitation, or depreciation that the Borrower and/ or Security (if
created) may suffer or sustain on any account whatsoever in respect of Loan or whilst
the Security is in the possession of TCPL, its officers, agents or nominees or because
of exercise or non-exercise of the rights, powers, or remedies available to the TCPL
or its officers, agents or nominees and all such loss, damage or depreciation shall be
debited to the account of the Borrower howsoever the same may have been caused.
Neither TCPL nor its agents, officers or nominees shall be in any way responsible
and liable and the Borrower hereby agrees not to make TCPL or its officers, agents or
any nominees liable for any loss, damage, limitation or otherwise for any belongings
and articles that may be kept or lying in the Security at the time of taking charge and
/or possession, or seizure of the Security.

12. NOTICE
1. The Borrower agrees and confirms that where any document, notice, intimation,
information, communication and/ or demand is required to be provided/ made by
TCPL to the Borrower under this T&C and/ or the other Documents and/ or
Applicable Law, such document, notice, intimation, information, communication
and/ or demand shall be deemed to have been provided/ made and shall be binding of
the Borrower if the same is rendered or made available by TCPL by using any of the
Contact Options.
2. Any such notice by TCPL will be deemed to be effective if sent by personal delivery,
when delivered, if sent by post, two days after being deposited in the post and if sent
by courier, two days after being deposited with the courier and if sent by e-mail/ sms/
fax or posted on online customer portal, immediately upon the same being sent by
TCPL.
3. Without prejudice, TCPL may also send any notice to the Borrower on any additional
address (s), which come to its knowledge. In case TCPL intimates its change of
address to the Borrower, the Borrower shall also send the notice to that address also.
Any notice by Borrower shall be sent either by personal delivery, or by registered
post, and shall be deemed to be delivered only when it is actually received by TCPL.

13. UTILISATION OF LOAN

1. The Borrower ensures that no part of the Loan shall be utilized for any illegal
purposes and/or immoral activities, categorically prohibited activities, gambling,
lottery, races and activities speculative in nature and/or such other activities of
similar nature or under influence, voracity or coercive action from TCPL. The
Borrower further confirms that TCPL has neither represented the Borrower that it is
the dealer/ manufacturer of any product nor has given any assurance on the quality of
any product.
2. The Borrower shall not utilize Loan for any activity which is hazardous for the
environment and safety of general public or for any project which is illegal or against
any Applicable Law.
3. The Borrower shall not utilize Loan for any for any child, or forced labour. The
Borrower will not employ children in any manner that is economically exploitative,
or is likely to be hazardous or to interfere with the child’s education, or to be harmful
to the child’s health or physical, mental, spiritual, moral, or social development. The
Borrower will identify the presence of all persons under the age of 18. Where
national laws have provisions for the employment of minors, the Borrower will
follow those laws applicable to the Borrower. Children under the age of 18 will not
be employed by Borrower in hazardous work. All work of persons under the age of
18 will be subject to an appropriate risk assessment and regular monitoring of health,
working conditions, and hours of work.
4. The Borrower shall not use the proceeds of the Loan in a manner or for a purpose
that would violate applicable anti-corruption laws.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

14. DECLARATIONS BY THE BORROWER-The Borrower makes the following
representations and warranties to TCPL as of the date of this T&C and such representations
and warranties shall be repeated on each day until the repayment of the entire Outstanding
Balance in full to the satisfaction of TCPL:
1. That this T&C and all Documents, hereunder as required, will be valid and binding
obligations of the Borrower and enforceable in accordance with their respective
terms until TCPL has issued a certificate in writing to the Borrower stating that
Borrower has discharged all his/ her liabilities towards TCPL under all the Loans to
the satisfaction of TCPL.
2. That the Borrower does not violate any covenants, conditions and stipulations under
any existing agreement entered into by the Borrower with any third party by availing
the Loan from TCPL.
3. The Borrower hereby declares that all the information provided by the Borrower,
either verbally or in writing or by way of any of the Contact Options, and documents
submitted before or at the time of submitting Loan Application, or before or at the
time of execution of this T&C are true, genuine and correct and the Borrower further
assures that any information demanded by TCPL in the future shall be immediately
provided by the Borrower with complete accuracy.
4. The Borrower hereby confirms that the Borrower shall not have any right to
terminate this T&C until the whole of the Outstanding Balance is repaid in the
manner directed by TCPL.
5. The Borrower hereby consents that TCPL and/ or his/her authorised representative
may communicate with the Borrower either by phone calls, sms, electronic mails or
through any other mode of communication available for the purpose of discussing the
current status of his
/her Loan(s) or reminder/ collection of any dues in respect of any Loan or for any
matter related to the Loan(s) and such phone calls, sms, etc., shall not be covered
under the purview of “Do Not Disturb” policy of the Telecom Regulatory Authority of
India (TRAI). For this purpose, Borrower hereby grants permission to TCPL to
contact him/her any time between 0800 hours to 1900 hours from Monday to Sunday.
The Borrower may inform TCPL if some other time is convenient for the Borrower by
calling the customer care department/ recovery department/ or any other authorized
representatives of TCPL.
6. The Borrower agrees, consents and permits TCPL to disclose to the Borrower’s
family members (i.e. parents, spouse, children, sisters and brothers) or other Persons
whose details have been provided by the Borrower either in Loan Application or
otherwise from time to time, all necessary or relevant particulars/information relating
to the Borrower and the Loan for any legal purpose required by TCPL.
7. The Borrower confirms that neither Borrower nor Borrowers’ family members is
citizen or reside in any country which is not Financial Action Task Force (FATF)
compliant or from any country which is enemy country of India.
8. The Borrower undertakes to pay each of the Monthly Instalments on or before the
respective Due Dates without any default.
9. The Borrower undertakes to inform TCPL within 07 days of any change in his/her
residential address, employment, telephone numbers, or change in any of the details
provided to TCPL in writing or by using any Contact Options as made available by
TCPL.
10. The Borrower confirms that there is no action, suit, proceedings or investigation
pending or, to the knowledge of the Borrower, is threatened, by or against the
Borrower before any Court of Law or any government authority which might have a
material adverse effect on the financial and other affairs of the Borrower or which
might put into question the validity or performance of this T&C.
11. The Borrower shall intimate TCPL promptly of any dispute which might arise
between the Borrower and any Person or any government authority thereby affecting
the ability of the Borrower to repay the Loan in the manner stipulated hereunder.
12. The Borrower shall at all times abide by the laws in India, and in particular,
provisions of the Prevention of Money Laundering Act, 2002.
13. The Borrower by availing the Loan shall have deemed to have warranted and
undertaken to the TCPL as follows: (a) Due Payment of public and other demands i.
e. the Borrower has/have paid all public demands such as Income Tax and all the
other taxes and revenues payable to the Government of India or to the Government of
any State or to any local authority and that at present there are no arrears of such
taxes and revenues due and outstanding. (b) It shall be the Borrower’s obligation to
keep being acquainted with the rules of TCPL, in force from time to time. (c) To
make regular payments to the TCPL.
14. The Borrower is of sound mind and has not hidden any material fact from TCPL
which may hamper /adversely affect the performance of obligation by Borrower
under Loan Documents.
15. The Borrower hereby warrants shall not do any act/omission in order to avoid
payment of Loan on Due Dates including giving threatening communications through
any Contact Options or misbehaving with any representatives/ customer management
of TCPL.
Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in
 16. The Borrower hereby warrants that the Borrower shall not make any wrong statement
publicly against TCPL (including posting false/ abusive messages in social media
platforms) with motive to avoid repayment of Loan.

15. OTHER CONDITIONS

1. Where any part or provision of this T&C or any Document becomes illegal, invalid
or unenforceable under the law, the remaining part or provisions of the T&C or such
Document shall remain valid and enforceable so far as they are not affected by the
part or provision that become illegal, invalid or unenforceable.
2. TCPL shall be entitled to amend any of this T&C or any other Document at any time
at its sole discretion. Any such amendment shall have prospective effect. The
Borrower shall be informed about any such amendment by posting such amendment
on the website of TCPL or through any Contact Options as decided by TCPL at its
sole discretion. Any such amendment made to the T&C by TCPL shall be binding
upon and enforceable against the Borrower. The Borrower shall have the option to
repay the Outstanding Balance to TCPL within the time period specified by TCPL on
the website or as agreed with TCPL in case the Borrower does not agree to the
amendment of any of the terms & conditions of this T&C or any other Document.
3. TCPL shall have the absolute discretion to opt and exercise all or any of the aforesaid
rights available to TCPL, however, where TCPL chooses to exercise one right over
the other, TCPL shall not be deemed to have waived off the option of exercising that
other right in future.
4. The Borrower agrees to comply with all Applicable Laws from time to time in force
including any amendments, modification or change thereof which may be attracted
and the Borrower shall indemnify TCPL in respect of any loss, claim or expense to
TCPL as a result of non- compliance of any such Applicable Laws.
5. In case of discrepancies, if any, between T&C and the Sanction Letter and Loan
Documents , the terms and conditions mentioned in the Loan Documents shall
prevail.
6. Where the T&C or any other Document has been executed or referred in any
language along with or other than English Language, the copy of T&C or such other
Document executed or referred in English language shall be considered correct and
final in case of any dispute arising due to interpretation of any word, sentence or any
clause in other languages.

16. DISPUTE RESOLUTION AND JURISDICTION

1. Every dispute, difference, or question which may at any time arise between TCPL
and the Borrower in respect of the Loan or any Person claiming under them, touching
or arising out of or in respect of this T&C or any other Document or the subject
matter thereof and/ or any Loan shall be referred to a Sole Arbitrator to be appointed
by TCPL for Arbitration. The arbitration proceedings shall be governed by the
provisions of the Arbitration and Conciliation Act, 1996 with such modification and
amendments as may be time being in force and the decision of the arbitrator shall be
final and binding on the parties. The Borrower hereby agrees and confirms that the
arbitration agreement contained in this T&C would constitute a valid and binding
arbitration agreement between the Borrower and TCPL even if this T&C is accepted
and agreed upon by the Borrower through any of the Contact Options provided by
TCPL. The place for holding such arbitration proceedings shall be Gurugram,
Haryana (India) and the language for such proceedings shall be English only.
2. This Agreement governed by and construed in all respects with the Indian Laws and
the Parties hereto agree that any matter or issues arising hereunder or any dispute
hereunder shall, at the option/discretion of TCPL, be subject to the exclusive
jurisdiction of the courts of Gurugram, Haryana, India.

17. DISCLAIMER
1. TCPL is having a valid Certificate of Registration dated 14- 10-2019 issued by the
Reserve Bank of India (RBI) under section 45-IA of the Reserve Bank of India Act,
1934. However, the Reserve Bank of India does not accept any responsibility or
guarantee about the present position as to the financial soundness of the company or
for the correctness of any of the statements or representations made or opinions
expressed by the company and for repayment of deposits/discharge of the liabilities
by the company.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in

 18. CONFIDENTIALITY AND CONSENT FOR DISCLOSURE:
1. TCPL shall exercise care while handling any confidential information. However, the
Borrower acknowledges and accepts that the TCPL shall, in accordance with
Applicable Law, be entitled to disclose information (i) to the TCPL’s affiliates, sub-
contractors, agents, service providers, partners, lenders, investors, research agencies
(ii) to prospective transferees or purchasers of any interest in the Loan, (iii) as
required by law or any government order or direction including disclosure as maybe
necessary to perform or fulfill any requirement specified by the RBI, (iv) as deemed
necessary by the TCPL while exercising its remedies under the Loan Documents. the
TCPL shall also be entitled to disclosure without any notice to the Borrower/s all or
any information/documents or the data including but not limited (a) information and
data relating to the Borrower; (b) the information or data relating to any credit facility
availed of/to be availed by the Borrower; (c) default, if any, committed by the
Borrower, for protecting its interests to income tax authorities, credit rating agencies
or any other Government or any other Regulatory Authorities/Bodies/ Departments
/authorities as and when so demanded.
2. The Borrower understand that as a pre-condition relating to grant of Loan to the
Borrower, TCPL requires the consent of the Borrower for disclosure by TCPL of
information and data relating to Borrower, of the Loan availed/be availed of by
Borrower/s, obligations assumed/to be assumed by Borrower in relation thereto and
/or default if any, committed by Borrower, in discharge thereof.
3. Accordingly, the Borrower has/have no objection to the disclosure by TCPL of all or
any such, (a) information and data relating to Borrower; (b) information or data
relating to Loan, or any credit facility availed/to be availed by Borrower; (c)
information and data relating to obligations assumed by Borrower in relation to the
Loan/credit facility(ies) granted/to be granted by TCPL ; and (d) information and
data relating to default, if any committed by Borrower in the discharge of such
obligation, as the TCPL may deem appropriate and necessary to disclose and furnish
to any agency as the TCPL feels appropriate and proper or as authorized by RBI.
4. The Borrower declare/s that the information and data furnished by him/her to the
TCPL is true and correct.

19. ACCEPTANCE
1. THE BORROWER CONFIRMS HAVING PERUSED, UNDERSTOOD AND
AGREED TO THIS ENTIRE T&C CONSTITUTING OF ABOVE CLAUSES
INCLUDING THE LOAN AND OTHER PRODUCT DETAILS, TCPL’S
METHOD OF CALCULATING INSTALMENT AND APPLICABLE CHARGES.
THE AFOREMENTIONED T&C AND OTHER DOCUMENTS HAVE BEEN
EXPLAINED TO THE BORROWER IN THE LANGUAGE UNDERSTOOD BY
THE BORROWER AND THE BORROWER HAS UNDERSTOOD THE ENTIRE
MEANING OF THE VARIOUS CLAUSES STATED IN THIS T&C.THE
BORROWER IS AWARE THAT TCPL HAS AGREED TO GRANT LOAN TO
BORROWER ONLY ON THE BASIS OF THE REPRESENTATIONS AND
WARRANTIES/ DECLARATIONS MADE BY THE BORROWER AND THE
UNDERTAKING PROVIDED BY THE BORROWER TO ABIDE BY THE
TERMS OF THIS T&C.

Email: cs@truecredits.in; Contact Number: 0120-4001028; Website: truecredits.in