Grow Money Capital Private Limited

(Formerly known as Eclear Leasing & Finance Pvt. Ltd.)

Loan Sanction Letter

Date: 01/05/2023
Ref:TBCL18-30501-0418914
(Loan ID : 30418914)
SANGEETHA KUMARI KUMARI M
157 E C C ROAD OUTER CIRCLE,
BANGALORE, BANGALORE, Bengaluru,
KA, 560066, India
Dear SANGEETHA KUMARI KUMARI M
This letter is made in reference to your loan application number TBCL18-30501-0418914 dated 01/05/2023. Based
on the information you provided in your loan application, we, Grow Money Capital Private limited [Formerly
known as Eclear Leasing & Finance Private Limited] (“GROW MONEY” or “Lender” or “GMCPL” ), are
pleased to inform you of the approval of your loan and offer you based on the following terms and conditions:

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 Key fact sheet

Date Name of the Regulated entity Applicant Name

01/05/2023 Grow Money Capital Private limited SANGEETHA KUMARI KUMARI M

Sr. No. Parameter Details

(i) Loan amount Rs. 5668
(ii) Total interest charge during the entire tenor of the loan Rs. 827
(iii) Other up-front charges, if any. Rs. 668
(a) Processing fees (inclusive of GST @18%) Rs. 668, including the GST of Rs. 102
(10.000% of loan amount excluding the
GST)
(b) Insurance charges NIL
(c) Others: NIL
(iv) Net disbursed amount ((i)-(iii)) Rs. 5000
(v) Total amount to be paid by the borrower (sum of (i), Rs. 6495
(ii))
(vi) Annualised rate of interest 48.00% per annum (4.00% per month)
(vii) Annual Percentage Rate (APR)– 87.43
[Effective annualized interest rate (in percentage) (computed on net disbursed
amount using IRR approach and reducing balance method) ]*

(viii) Tenor of the Loan 6 month(s)

(ix) Installment frequency Monthly
(x) Number of installments 6
(xi) Amount of each installment of repayment Rs. 1079
Details about Contingent Charges
(xii) Rate of annualized penal charges in case of delayed 109.5% per annum on principal outstanding
payments
(xiii) Rate of annualized other penal charges NIL
Other disclosures
(xiv) Cooling off/look-up period during which borrower shall not be charged 3 days**
any penalty on prepayment of loan

(xv) Details of LSP acting as recovery agent and authorized to True Credits Private Limited
approach the borrower link
(xvi) Name, designation, address and phone number of nodal Grow Money Capital Private Limited Grievance Redressal Officer
grievance redressal officer designated specifically to Amit Kumar Singh (9311210198 | Support@growmoneycapital.
deal with FinTech/ digital lending related complaints/ com) | 401 New Delhi House, Barakhamba Road, New Delhi
issues 110001 Working Hours: Monday to Friday; 10:00 am to 6:30 pm
https://www.truecredits.in/client-grievance-redressal-policy
* GST charged on Processing Fees @18% is excluded from calculation of APR

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 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 (in
No. Date Principal (in Rupees) Rupees) Rupees)
Rupees)
1 01/06/2023 Rs. 5668 Rs. 848 Rs. 231 Rs. 1079
2 01/07/2023 Rs. 4820 Rs. 889 Rs. 190 Rs. 1079
3 01/08/2023 Rs. 3931 Rs. 919 Rs. 160 Rs. 1079
4 01/09/2023 Rs. 3012 Rs. 957 Rs. 122 Rs. 1079
5 01/10/2023 Rs. 2055 Rs. 998 Rs. 81 Rs. 1079
6 01/11/2023 Rs. 1057 Rs. 1057 Rs. 43 Rs. 1100

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
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. GROW MONEY 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 Grow Money Capital 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 Grow Money Capital i.e. https://www.
truecredits.in/loan-application-terms-and-conditions
15. Please refer to https://www.growmoneycapital.com/policy.html for privacy policy of Grow Money Capital
Private Limited.

For and Behalf of Grow Money Capital Private limited

Authorised Signatory

Agreed and Accepted

Digitally Signed by DS GROW MONEY CAPITAL
PRIVATE LIMITED 1
Timestamp: 2023.05.01 06:55:58 UTC Applicant Name, Digitally Accepted at
SANGEETHA KUMARI KUMARI M, 01/05/2023

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 TERMS AND CONDITIONS FOR OBTAINING LOANS FROM
Grow Money Capital Private limited
(Effective 16.Dec, 2022)

Grow Money Capital 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 “GMCPL”) may grant the Loan (as defined herein
below) only after approval of the prescribed Loan Application submitted by the Borrower to GMCPL.
GMCPL 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 GMCPL for the approval of the Loan. The
Borrower, who intends to obtain a Loan from GMCPL 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 GMCPL 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 GMCPL 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
GMCPL, or by a third party duly authorised by GMCPL, 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 GMCPL
(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 GMCPL. 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 GMCPL. 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 GMCPL.
10. “Eligibility Criteria” means the minimum eligibility criteria set forth by GMCPL to
judge the credit worthiness of the Borrower, which is subject to change from time to
time at the sole and absolute discretion of GMCPL.
11. “Interest Amount” means the amount paid/to be paid by the Borrower to GMCPL 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 GMCPL from time to time
as stated in the Loan Documents on which interest is charged to the Borrower.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 13. “Loan Application” means the application submitted by the Borrower digitally to
GMCPL 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 GMCPL 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 GMCPL through Automated Fund Transfer for all the Loans
availed by the Borrower from GMCPL 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 GMCPL 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 GMCPL directly to the Borrower
in the bank account of Borrower.
20. “Processing Fee” means the fees charged by GMCPL 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. GMCPL 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 GMCPL 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 GMCPL.
3. GMCPL 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 GMCPL
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 GMCPL as available on the website of GMCPL
(https://growmoneycapital.com/policy.html) 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 4. Interest Amount in respect of each Loan will start accruing in favour of GMCPL 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 GMCPL. 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 GMCPL.
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 GMCPL 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 GMCPL and
specifically mentioned in the Sanction Letter and Loan Documents under any particular
Loan (referred as “Advance Instalments” in this T&C). GMCPL 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 GMCPL 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
GMCPL 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 GMCPL.

5. The Borrower agrees to pay the Instalment, penalties, fees and other sums due and payable
by the Borrower to GMCPL by any of the following modes as approved by GMCPL
considering the information provided by the Borrower:
1. Payment mode available in the mobile application used by GMCPL.
2. Automated Fund Transfer
3. Alternate Payment Channel as indicated on mobile application used by GMCPL/ or
the website of GMCPL
4. Any other mode as may be approved by GMCPL in writing from time to time and
informed through Contact Options.
6. GMCPL 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 GMCPL without prior written consent of GMCPL. The
Borrower shall be liable to solely bear and pay bounce fee/dishonour charges and late
payment charges imposed by GMCPL without any protest. The Borrower shall
immediately inform GMCPL of the said bank account is freezed by any authority and
alternatively arrange for alternate bank account for making repayment on Due Date.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 3. Mandate shall not be withdrawn or cancelled by the Borrower without prior written
notice of at least 30 (thirty) days to GMCPL. In the event the Mandate is withdrawn
or cancelled by the Borrower upon prior notice to GMCPL and the same is approved
by GMCPL, the Borrower unconditionally agrees to ensure the payment through
other channels and deliver to GMCPL all documents proving sufficiently such
change or issue new Mandate with immediate effect.
4. Mandate given to GMCPL shall remain valid until the complete repayment of the
Loan together with all Interest Amount, charges, penalties or any other amount due
to GMCPL.
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 GMCPL to present the Mandate again with the bank of
the Borrower for clearance/ payment any time at the sole discretion of GMCPL
without any prior intimation to Borrower.
7. GMCPL 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 GMCPL, the Borrower undertakes that:
1. Such payment shall be made only to the Person or agency duly authorised in writing
by GMCPL.
2. Any fee/ cost charged by such Persons or agencies authorised by GMCPL for
receiving any amount payable by the Borrower under this T & C shall be solely
borne by the Borrower.
9. GMCPL 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
GMCPL 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 GMCPL. 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 GMCPL 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, GMCPL
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. GMCPL 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 GMCPL, 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 GMCPL.
11. Unless otherwise decided by GMCPL 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 GMCPL 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 GMCPL and the Borrower further undertakes and confirms that he
/she shall not withhold or be entitled to withhold the payments demanded by GMCPL and/or
payment of any Instalment and/or any other amount payable under the present T&C by the
Borrower to GMCPL, 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
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 GMCPL 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 GMCPL or through such Contract
Options as decided by GMCPL 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. GMCPL 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 GMCPL 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 GMCPL 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 GMCPL 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 GMCPL and GMCPL 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 GMCPL. In such an event,
GMCPL shall also be entitled to adjust any amount of the Borrower lying in any other form
with GMCPL 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
GMCPL in favour of GMCPL, for the aggregate of the Loan amount and Interest Amount,
the Borrower undertakes that GMCPL shall be entitled to negotiate the Demand Promissory
Note. The Borrower waives presentment and notice of dishonour of the Demand Promissory
Note.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
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 GMCPL to its Borrowers from time to time for
availing Loans(s)/ services from GMCPL (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. GMCPL may, at its
sole discretion, allow the Borrower to apply for and/ or obtain Loan(s) or avail various other
services/ facilities from GMCPL 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 GMCPL through
any of the aforesaid Contact Options shall be valid and binding upon the Borrower and shall
constitute a valid and binding contract between GMCPL and the Borrower if the same is
also approved by GMCPL. The Borrower authorizes GMCPL 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
GMCPL, 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
GMCPL 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 GMCPL 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 GMCPL.
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
GMCPL and that GMCPL 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 GMCPL 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 GMCPL 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).

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
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, GMCPL may require
the Borrower to use/ enter a password allotted by GMCPL 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 GMCPL. 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. GMCPL 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 GMCPL
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 GMCPL 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 GMCPL for each such Loan). The Borrower
further accepts that such record may be used by GMCPL 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, GMCPL 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 GMCPL 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, GMCPL 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. GMCPL 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 GMCPL, will be
sufficient evidence for GMCPL to identify the Borrower and to act upon the Borrower’s
instructions. The Borrower authorizes GMCPL and directs GMCPL to act upon instructions
for funds transfer given via such Contact Options purportedly issued by, believed by
GMCPL to be issued by or originated from the Borrower as identified in the Loan
Application or related Documents.

9. The Borrower agrees that GMCPL’s records (be they electronic, written or otherwise)
pertaining to each of the Loan obtained from GMCPL 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. GMCPL 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 GMCPL 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. GMCPL, 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 GMCPL and in any event not later than 48 hours.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 9. ASSIGNMENT AND SUB-CONTRACTING
1. GMCPL 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. GMCPL 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 GMCPL has sold, assigned, securitised or transferred
in any other manner, all or any of the rights/ obligations of GMCPL 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 GMCPL to appoint and
authorise one or more Persons, who may or may not be the employee or officer of GMCPL,
to exercise any or all the rights/ powers of GMCPL provided under this T&C, whether
relating to the administration, processing, collection, recovery of the Outstanding Balance
on behalf of GMCPL, 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 GMCPL.

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
GMCPL either orally or in writing in any of the Loan Documents provided to
GMCPL or Borrower fails to furnish any information required by GMCPL 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 GMCPL 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 GMCPL on the respective Due Dates as
required under this T&C or under any other agreement/ arrangement for Loan taken
from GMCPL; 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 GMCPL jeopardizes its
interest and would make it difficult for GMCPL to recover the Outstanding Balance.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
11. REMEDIES IN CASE OF DEFAULT
1. The Borrower acknowledges following rights of GMCPL, 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 GMCPL 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 GMCPL
on or before the respective Due Dates, GMCPL 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
GMCPL, 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. GMCPL 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 GMCPL 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 GMCPL whether by way of security or
otherwise pursuant to any contract entered/to be entered into by the Borrower in any
capacity and GMCPL 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 GMCPL 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 GMCPL. The Borrower confirms that GMCPL 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 GMCPL.
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 GMCPL 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. GMCPL 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
2. GMCPL 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 GMCPL –
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, GMCPL 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 GMCPL to hand over the security to
the representative of GMCPL, GMCPL 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 GMCPL 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. If Borrower fails to comply with the demand of GMCPL to hand over the security to
the representative of GMCPL 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
GMCPL or its representatives and to take charge and/or to seize, recover, receive and
/or take possession of all or any of the security.
4. Upon taking possession of the security, GMCPL 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 GMCPL 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, GMCPL shall handover the subject of the Security to
the Borrower provided this does not bar GMCPL rights to take such similar action
for any future defaults made by the Borrower.
5. In case the Borrower fails to comply with such requisitions and demand made by
GMCPL as mentioned in this Clause 11, GMCPL 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 GMCPL 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 GMCPL within the time period specified by GMCPL.
If Borrower fails to pay the Outstanding Balance amount within the given time
period, GMCPL 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 GMCPL 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
GMCPL shall be sold by GMCPL 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 GMCPL shall be recovered by GMCPL from
Borrower either from the sale proceeds of the security or in any other manner
whatsoever.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 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), GMCPL 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 GMCPL 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 GMCPL/ Reserve Bank of India/
Credit Information Companies.
4. GMCPL 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 GMCPL, its officers, agents or nominees or because of exercise or non-
exercise of the rights, powers, or remedies available to the GMCPL 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 GMCPL nor its agents,
officers or nominees shall be in any way responsible and liable and the Borrower hereby
agrees not to make GMCPL 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 GMCPL 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 GMCPL by using any of the Contact Options.
2. Any such notice by GMCPL 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 GMCPL.
3. Without prejudice, GMCPL may also send any notice to the Borrower on any additional
address (s), which come to its knowledge. In case GMCPL 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 GMCPL.

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 GMCPL. The Borrower further confirms that
GMCPL 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
14. DECLARATIONS BY THE BORROWER-The Borrower makes the following representations and
warranties to GMCPL 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 GMCPL:
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
GMCPL has issued a certificate in writing to the Borrower stating that Borrower has
discharged all his/ her liabilities towards GMCPL under all the Loans to the satisfaction of
GMCPL.
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 GMCPL.
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 GMCPL 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
GMCPL.
5. The Borrower hereby consents that GMCPL 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 GMCPL to contact him/her any time between
0800 hours to 1900 hours from Monday to Sunday. The Borrower may inform GMCPL if
some other time is convenient for the Borrower by calling the customer care department/
recovery department/ or any other authorized representatives of GMCPL.
6. The Borrower agrees, consents and permits GMCPL 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 GMCPL.
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 GMCPL within 07 days of any change in his/her
residential address, employment, telephone numbers, or change in any of the details
provided to GMCPL in writing or by using any Contact Options as made available by
GMCPL.
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 GMCPL 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.
The Borrower shall at all times abide by the laws in India, and in particular, provisions of
the Prevention of Money Laundering Act, 2002.
The Borrower by availing the Loan shall have deemed to have warranted and undertaken to
the GMCPL 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 GMCPL, in force from time to time. (c) To make regular payments to the GMCPL.
The Borrower is of sound mind and has not hidden any material fact from GMCPL which
may hamper /adversely affect the performance of obligation by Borrower under Loan
Documents.
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 GMCPL.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 The Borrower hereby warrants that the Borrower shall not make any wrong statement
publicly against GMCPL (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. GMCPL 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 GMCPL
or through any Contact Options as decided by GMCPL at its sole discretion. Any such
amendment made to the T&C by GMCPL shall be binding upon and enforceable against the
Borrower. The Borrower shall have the option to repay the Outstanding Balance to GMCPL
within the time period specified by GMCPL on the website or as agreed with GMCPL 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. GMCPL shall have the absolute discretion to opt and exercise all or any of the aforesaid
rights available to GMCPL, however, where GMCPL chooses to exercise one right over the
other, GMCPL 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 GMCPL in respect of any loss, claim or expense to GMCPL 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 GMCPL 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 GMCPL 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
GMCPL even if this T&C is accepted and agreed upon by the Borrower through any of the
Contact Options provided by GMCPL. 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 GMCPL, be subject to the exclusive jurisdiction of the
courts of Gurugram, Haryana, India.

17. DISCLAIMER
1. GMCPL is having a valid Certificate of Registration dated 29th May 2003 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216
 18. CONFIDENTIALITY AND CONSENT FOR DISCLOSURE:
1. GMCPL shall exercise care while handling any confidential information. However, the
Borrower acknowledges and accepts that the GMCPL shall, in accordance with Applicable
Law, be entitled to disclose information (i) to the GMCPL’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 GMCPL while
exercising its remedies under the Loan Documents. the GMCPL 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,
GMCPL requires the consent of the Borrower for disclosure by GMCPL 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 GMCPL 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 GMCPL ; and (d) information and data relating to default, if any committed by
Borrower in the discharge of such obligation, as the GMCPL may deem appropriate and
necessary to disclose and furnish to any agency as the GMCPL 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 GMCPL 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, GMCPL’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 GMCPL 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.

401, New Delhi House, 27 Barakhamba Road New Delhi-110001

Tel.: 9311210198, Email:info@eclearleasing.com
CIN: U74899DL1995PTC069216