LOAN CUM HYPOTHECATION AGREEMENI

address(e
name(s) ard )are as specified
under the Companies Act, 1956 and
whose
THISAGREEMENT IS MADE at the place and date as specified in the Schedule between those persons. af
in the Schedule (hereinafter called the "Borrower(s)") of ONE PART and AXIS Bank Ltd., a
incorporated

Corporate
Company
Office and
Office Trishul', 3rd Floor,
Banking Company within the meaning of the Banking Regulation Act, 1949 and having its Registered
RBombay
Dyeing Mills Compound, Pandurang
Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad 380006, Gujaral and Axis House,as spec1fiedinthe
place
Schedule
(hereinaft er called
Budhkar Mara, Worli, Mumbai - 400 025 respectively and one ofthe Branch/RAC/SRAC offices at the
the "Bank") of the SECOND PART. heirS, re
presentativeg
SuccesSors,
The expressions "Borrower(s)" and the "Bank", unless repugnant to the context. respective legal
shall| include their
executors,administrators and assigns as specified in the Schedule with
WHEREAS the limit(s)
fullpower to the Borrower(s) has/have
Bank from time to timerequested
to renew the
or reduce or enhance
Bank and the Bankthehás
limit or altogether
agreed to providewithdraw
Loan upthetofacility on the terms and concditions appearing
details of which are specified in the
herein for the purpose of purchasing a Vehicle (hereinafter collectively and to as the
"Loan"),

Schedule to this Loan Agreement.

individually referred
IT ISAGREED BY AND BETWEEN THE PARTIES AS FOLLOWS
1Definitions and Interpretation
1.1 In this Agreement, the following meanings are applicable: information
"Agreement" means this LoanAgreement for grant of Loan for the the most impor tant
more particularly detailed in the SSchedule. purchase of aVehicle read in coiunction with
"Borrower" means one or more entities whose name(s) ) and address(es) islare staledin the Schedule executing this Agreement as borrower(s) and
each one beingdeemed to haveemade
n agreed to liabilities hereunder
this Agreement individually and incase
jointly and severally. of more than one, allof them having
sha ll include any
"Branch/RAC/SRAC" means the office of the Bank at the place the Loan is disbursed and
other Branch/RAC/SRACWhere the Loan account is maintainedmentioned ln the Schedule and where
or transferred to anv time at the sole discrelooisind in terest, or as the case
"EMI" or "Equated Monthly Installment""shall mean the amount payable comprising of
may be, principal and interest calculated on theebasisof monthly everyymonth by the Borrower to the Bank to the next rupee
rounded off
as stated in the schedule and is
"Post Dated Cheques" (PDCs) shallmean the cheques issued byrests at theBrate applicable
the Borrowerto match the due date of each inslai
"Electronic Clearing System" (ECS) shall mean the debit clearing seryice ntiied uBe Bankof india participationwhic hhas been consened to in
writing by the Borrower for facilitating the payment of EMIs.
"Standing Instruction" (SI)shall mean the written instructions issuedby the Borrower to the Rank to debit the account of the Borrower maum
Bank for facilitating payment of EMIs.
"Loan" means the loans granted by theBank in terms of this Aareementandhallaleomntinelude the principal amount of Loan andall aues
outstanding there under if the context so requires.
"interest Rate" means the rate at which the Bank shall compute and appy interest on the Loan. as stated in the Schedule or asmay be amended rom
time to time by the Bank.
"Penal lnterest "meanstherate atwhich the Bank shall compute and applvinterest on all amounts not paid when due for payment (or reimbursement) by
the BorrOWer to the Bank, as stated in the Schedule or as may be amended from time to time by the Bank.
"Parties" means the Bank and the Borrower referred to collectively.
"Vehicie" means the Vehicde/Vehicles hypothecated to the Bank more particularly described in the schedule, for the purchase of which, the Loan has
been granted by the Bank.
"Schedule" meansthe schedule of thisAgreement, which forms a part of the Agreement.
1.2 In thisAgreement, singularshall include plural andthemasculine gender shallinclude the fenminine and neutral gender.
1.3 Any expression not defined herein shall, if defined under General ClausesSAct, 1897 shallcarry the same meaning as assigned to it underthe
said Act.
1
1.5
The arangement of clauses in thisAgreement shall have no bearing on their interpretation.
The clause headings are inserted for the sake of convenience only and shall not affect the interpretation of the provisions hereof.

2 Bank's Agreement to lend and Borrower's Agreement to borrow

2.1 The Bankagrees, based on the Borrower's Request, Reprsentations. Warranties,Covenants and Undertakings as contained herein and in the
application for Loan and other documents executed or tendered by the Borrower in relation to the Loan, to lend to the Borrower and the Borrower
agrees to borrow from the Bank for the purchase of the Vehicle, the Loan on the terms and conditions as fully contained in th isAgreement and the
Schedule.
2.2 The relationship between the Bank and the Borroweras lender and borrower shall commence from the date of this Agreement and subsist until all
monies due and payable by the Borrowerto the Bank under thisAgreement and in allother documents pursuant hereto shall have been fully paid
to and received by the Bank.
3 Fees, Charges, Costs and Claims
3. The Borrower(s) shall bear Service Charges, processing fee, Stamp Duty, Cheque bouncing Charges, Penal interest, Cheque Swapping
Charges, Loan cancellation/Re-booking charges,Statement charges, Duplicate Repayment Schedule Charges, Duplicate No Dues
Certificate/NOC charges and aniy other fees, including GST, ifany, as more particularly detailed in the Schedule, which the Borrower
agrees to reimburse to the Bank separately.
3.2 The Bank shallalso beentited torecover from the Borrower any other charges or costs incurred or dlaims suffered by the Bank inconnection with
theLoan, including on accountof execution and stamping of this Agreement and any other documentation or security creation pursuant to this
Agreement.
4 Disbursement
The Bank shall. unless otherwise agreed between the Borrower and the Bank, disburse the Loan in lump sum or in suitable insta liments to be
decided by the Bank by issuingaBanker's Payment Order or a Demand Draft crossed as "Ac Payee only"
in the name of the Supplier more particularly described in the schedule and secure a receipt in the Bank's name: or
-in the name of the previous financier towards the repayment of the previous Loan to be taken over by utilizing this Loan.
4.1 ltis understo0d that the charges in relation to the disbursement (including charges for issuance or for the collection of pr oceeds by the
Borrower.
beneficiary on such payment order or demand draft) shall be borne by the

4.2 The Bank maynot disburse at any time, any amount under the L0an unlesS the follwing conditions are complied with in the sole discretion of the

Bank:
Borrower:
a) The Loan Agreement is duly executed and delivered to the Bank by the
repayment installments:
b) The BorrOwer's submission to the Bank, post dated cheques towards
require in its sole discretion: and
C) Any other document or writing as the Bank may appropriate authorities.
d) Submission of all the necessary approvals and permission from the
4.3 The Bank may not, having disbursed any amount, disburse any further amount under the Loan unless thefollowing conditions are complied
Bank before such further disbursement:
With in the sole discretion of the
a) No event of default shall have occurred;
b The Borrower shallhave produced all or any other documents or writings as required by the Bank in its sole discretion, which shall be
binding on the Borrower.