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Satguru Parinaya, PU-3, Ptot No 5, 0pp. C2l Matt, A. B. Road, Indore-452010

Ph-0731-2578801, Fax- 0731-2578802, Email- m nd ore (O u ni on ba n kof i nd ia. ba n k

REF: M CB/ N D I ADv l28t 12023-24 Date:13.10.2023

LETTER OF SANCTION
To
The Managing Director,
M/S Gurudeo Exports Corporation Pvt. Ltd.
Shradhanand Marg, Sanyogitaganj,
13,
Chawani, Indore-452001
Madhya Pradesh

Dear Sir,
SANCTION OF CREDIT FACILITIES:
CONVEYING OF SANCTION TERMS AND CONDITIONS

Witt, reference to your request for renewal cum enhancement in credit facitities and the discussions from lime to
time on the subject matter, we are pteased to.inform that the competent authority on 12.10.2023 has approved the
fottowing facitities in favour of M/s Gurudeo Exports Corporation Pvt. Ltd. for a period of one year, subject to
periodical review at the Bank's discretion, for financing the activities of the company, on the fotlowing terms and
conditions:
In Crores
Amount Margin lnterest/ Concession Primary Securily
Nature of Limit Existing Now Commission Approved
Aooroved
Non-Fund based
lmport LC (DPIDA 25.00 25.00 15.00% # As mentioned in Tabte-A Lien over margin FDR/
120 days) DRIC hypothecation of
stock purchased/ procured
W/w lntand LC (2s.0 0) (25.00) , 15.00%
under LC and Document
(DP/DA 90 days)
under LC.
Ww BG for Trade (0.00) (2s.00) t5.00% Lien over 15% cash margin
Credit FDR/ DRIC
Fund Based
EPC (upto 135 r00.00 125.00 10.00% MCLR+0.40% | 75 BPs of Stock &
Hypothecation
days) p.a. Book debts Meant for
exporl
Ww FDBP/ (100.00) (12s.oo) Nit MCLR+0.55% 50 BPS Hypothecation of export
FUDBP (upto 180 (under LC) bitts drawn under
days) LClContract
MCLR+0.70% 85BPS
(under
Contract)
Ww cc(H) (7 5.0 o) (75.00) 25.00%. lYMCLR + 200 BPS Hypothecation of entire
1.00% p.a. current assets of the
company inctuding raw
Fcr iknanlal f sir li
,rl
ul & Co. materials, SlP, Finished
Fu Guru$go Exports '\- J 4. -l)-\'
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SANCtiON LCttET-M/S GURUDEO EXPORTS CORPORATION PRIVATE LIMITED

.,
Approved
I

Nature of Limit ffi | Commission I || |

I lAnnravadl | | |

I I I l Goods' Stores and sPares l

I I I | | lanu receivabres and atl i

I | | | r | lothercurrentassetsbothl
I I I I I lpresentaswellasfuture l

(oP/DAi20davs) | I | | lhvpothecation of
stockl
I I I I lPurchased/Procuredunderl
I | | | | LC ano Document under LC. I

w/w BG forTrade I (0.00) | (50.00) 15.00% cdsh marsrn

cieoit | | || t| I !l.l,o_u_..1r570
lron/ontc I

Term Loan/ DPGL

hel
GECL2 | | | | 0.60%or I lexistingcreditfacititiesinl
I I I I 9.25% | | terms of cash ftows I

whichever (inctuding repayments) and

I l
I istower I
l

GECL2.0E'I | | I lsecurtttes' I

ntrr 16l I nnn | '3nn | - | - | - | - |

TOTAL | 154.66 | 177.?5 |gpC -: | -- | -- I -- |

Note: Two-\ /ay interct'angeabitity between timit and lmport LC up to Rs.25.00 Crore (in case of Butk Export/
lmport 0rder).

@Credit equivalent for Forward contract limit of Rs. 150.00 Crores, 2% of which
i.e Rs. 3.00 Crore is considered
under Exposure as per bank guidelines.

#Table-A:Applicable/approvedcommissiononBG/Lc
Nature of timit Appticabte Commission Approved Commission Concession

BG for Trade Credit (buye/s Credit)

BG for Tr:ade Credit 1.20% p.a. min of Rs. 1500/- 0.60% p.a. min of Rs. 750/- 50.00%
(Commission to be charged on (Commission to be charged on
monthty basis- mir1. of one month to monthly basis- min. of one
be recovered) month to be recovered)
Commission on Inland Letter of Credit
Nature of limit Applicabte Commission Approved Commission Concession
Inland LC DA- 90 days 3.60%+GST p.a. 1.35%+GST p.a. 6250%
lnland LC DP 2.40%+GST p.a. 0.90t+GST p.a. 62.50%

Com mission ^on I mport/Foreig n Letter of Credit

Nature of timit Applicabte Commission Approved Commission Concession

lmport LC DP
Upto Rs.5.00 Crs a) Commitment charges: 0.002% l) Commitment charges: 0.001% Pet 50.00%
per day, Min 90 days. day, Min 90 days.
b) Sight charges: 0.15% Ftat. :) Sight charges: 0.075% Ftat.
Totat: 0.88% p.a..Min 2000/- Total:0.tttfl p.a. Min 2000/- [a) +

' [a) * b)] b)l Y

c) Swift charges + OPE Farr
^r-r--
:l SWift charges + 0PE /^ *.
Above Rs.5.00 crores to 50% of Normpl qhpqgeg,,-[.e,1 g
?FHtlH HEof(erF Pvt. Lrd l-r /t'liV

ForGurudeoExportscorporarronPvt Ltu

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Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

Nature of timit
Rs.10.00 crores applicabte upto Rs. 5.00 Crs)
Above Rs.l0.00crores 25% of Normal charges (i.e. As appticabte
appticabte upto Rs. 5.00 Crs)
lmport LC DA
Upto Rs.5.00 Crs a) Commitment charges: 0.002% per ) Commitment charges: 0.001% p

day, Min 90 days. day, Min 90 days.

b) Usance charges: 0.004% per day, ) Usance charges: 0.002% per day,
Min. 90 days. Min. 90 days.
Total:2.19%, Min 2000/- [a) * b)] Totat: 1.095%, Min 2000/- [a) * b)]
c) Swift charges + OPE Swift charges + 0PE
Above Rs.5.00 crores to 50% of Normal charges (i.e. As appticabte
Rs.I0.00 crores applicabte upto Rs. 5.00 Crs)
Above Rs.l0.00crores 25% of Normat charges (i.e.
applicable upto Rs. 5.00 Crs)

0ther Approvals:
P Continuation of approvat ior DP to be attowed against the Advances to the supptier with 25% margin.
) Continuation of approvaI for Two-way interchangeabitity between EPC timit and lmport LC up to Rs.25.00
Crore (in case of Butk Export/ lmport 0rder).
F Continuation of approval for Permitting export through merchant exporter or sub-supptier.
) Continuation of approvalfor Packing Credit Limit to be reteased against the copy of Export Contract.
) Continuation of approval for EPC timit on running account basis.
i Continualion of approval.of 75% concession in appticabte commitment charges
) Continuation of 50% concession in applicabte Processing Charges.
) Approval for parking timit CCH of Rs. 2.00 crores with Sindhi Cotony Branch, Indore.
} Approval for allowing DP on advance Input Tax Receivables & export incentive receivables for maximum Rs
20.00 crores.
) Approval for allowing DP against group account receivables of up to Rs 7.00 crores with 50% margin.
) Approval for release of Coltaterat security at plot no 73, Scheme No 54, PU-4 Indore in the name of M/s
Lakhan tat Kantilat Brokers Private Limitgd.
} Approvat for accepting variance in loan policy 2023-24 as under:
o TOLfi-NW is 9.21:1as on 31.03.2022 against appticabte 5:l
o T0L/Adj. TNW is 11.58:1 as on 31.03.2022 against appticabte 5:i
) Approvat for stiputation of LC clause as under:
lssuance of lmport LC with charter partyfianker/ Blank bilt of [ading, Forwarder Cargo
Receipt, State /,short form bitl of lading ctause.
f
o Certificate of 0rigin showing issued retrospectively is acceptable.
o Accepting documents dated prior to date of opening of LC but within vatidity of Proforma
lnvoice/ Sales Contracr.
o Allowing 60 days'time for presentation of documents from date of BL.
o Altowing tolerance timit of l5% white opening LCs.
o Waiver of SGS ctause at the time of issuance of LCs.
o Third pbrty documents acceptable except invoice and draft beneficiary's account.
o Acceptance of sptit bilt of tading. "

Paoe 3 of19
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Sanction LEttEr-M/S GURUDEO EXPORTS CORPORATION PRIVATE TIMITED

F Waiver of pena[ interest due to non-renewa[ of credit facilities'

F Approvat/NOC for purchase of immovabte property (mortgaged with our bank towards credit facitities of M/s
Gurudeo Export Corporation Pvt. Ltd.) in the company name from the guarantor without stipulation of interim
security.

DETAILS OF SERVICE CHARGES

) Processing charges of Rs. 175.00/- * GST per lac per qnnum (with 50% concession) on pro-rata basis shalt be
levied on Fund based timit and Non-Fund based timit. Accounts where interchangeabitity is allowed between
Fund Based and Non-Fund Based limits or sub-timits are atlowed with the main limit at the time of
sanction/renewat/modification, processing charges shalt be charged as per FB credit limits where FB timits
are higher.
) Documentation charges of 0.02% of the timit maximum Rs.35000/-+ GSt at the time of execution of fresh
documents (Other than actual expenditure, if any & appticabte Stamp duty.)'
F lnspection charges of Rs.4000/- + GST per visit shalt be charged.
) Mortgage Charges/ Mortgage creation charges (One time) of Rs.25000/- *GSt shatl be charged.
> CERSAI charges Rs.300/- GST to be paid for each property.
) 0ther operationaI charges shat[ be appticabte as per existing guidelines.
) Out of pocket expenses shalt be recovered separately.
F The above charges vary f rom time to time depending upon the poticy of the Bank.

CollateraI securities:
Exclusive charge on followinq immovable re5
Nature / Description of collateral Security Value Accepted

Residentiat House situated at 32, Vidya Nagar, lndore Plot area 2700 Sqft. built up area
3150 Sqft. in the name of Mr. Lakhanlal Jain.
Residentiat Buitding admeasuring size of ptot 3037.50 sq. ft. situated at House no. 3, Janki
Naoar Ext. Indore in the name of Mr. Hemant Jain
t no. 4 at Navtakha Main Road Near Navlakha Bus stand Indore in the name of M/s.
Lakhanlat Kantital Brokers Pvt. Ltd and Gurudeo Export Corporation Private Limited.
Ptot 16, Stice 6, Part No.4, Scheme no.97,Indore in the name of M/s Lakhanlal Kantita
rokers Pvt. Ltd.
Plot at F-2-A, Mitan Indore in the name qf M/s. LakhantalKantitalBrokers Pvt. Ltd.
Land Khasra no.606/1,607fi,608/1peki 0.339, 0.203,.146 hectare, respectively Patwari
Hatka No.2 at Bada Bangarda, Indore in the name of Mr. LakhanlaI Jain, Puneet Jain &
Mr. Anil Jain
t no.ll0, lst Ftoor Btock-C Shubh City, ward no.75 Patharmundla road, Gram Palda
dore in the name of M/s. Lakhantal Kantitat Brokers Pvt. Ltd.
tot no.55 C B Sector C Ward No. 50 (Brajeshwari) Sch. No.140pf IDA Indore in the name
of M/s. Lakhanlal Kantilat & Co.
Ptot no. 93 Suncity Township ward noO 9 Dewas in the name of M/s. Lakhanlal Kantital
Brokers Pvt Ltd.
Ptot no. 94 Suncity Township ward no0 9 Dewas in the name of M/s. Lakhantal Kantitat
Brokers Pvt Ltd.
+2 Commerciat buitding on Plot No.24, Ganesh Colony, Rambagh, Ward no.57 Indorei
the name of comoanv admeasuring 2410 sq. fts.
0pen Land at Patwari Halka No.02, Khasra No.311/6 Vittage Bhaistay Tehsit, Mhow, In
in the name of Priya Cputhwani & Mrs. Pushpa Couthwani
FDR in the name of the C
Union Mutuat Fund In the name of c
Additionat Collateral FDR in c

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Sanciion Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

Detaits of Guarantees (Persona[/Corporate

SN Name of the Guarantor Date Means
(Rs. In Crore)
PersonaI Guarantors
1 Mr. Hemant Jain 30.06.2023 17.13

2. Mr. Punit Jain 30.06.2023 3.46

Mr.Suvrat Jain 30.06.2023 0.77
A. Mr.Lakhanlat Jain 30.06.2023 6.54
E Mr. Anit Jain 30.06.2023 5.28
6. Mr.Kantitat Jain 30.06.2023 5.58
I. Mrs. Pushpa Chothwani 18.07.2023 11.71

X Mrs. Priva Chothwani 05.07.2023 il.89

Totat 95.58
Coroorate Guarantors ffNW as per ABS 2022)
t. M/s. Lakhantat Kantitat Brokers Pvt. Ltd. 30.06.2023 6.02
2. M/s Lakhantal Kantitat & Co. 30.06.2023 2.47
Total 8.49

Specific Terms & Conditions: -

l.The release of enhanced working capitat tid'tit is subject to fottowing: -
o Vatid and tegatty enforceable EM/RM is created/extended/modify over atl the mentioned coltateral
securities.
o Execution of vatid security documentation and vetting thereof is done by empanelted advocate, other than
the one who has conducted [ega[ search.
o Unqualified CPA report.
2. Cottateralcoverage to be maintained at minimum of 26.52% at any point of time.
3. Approvat/N0C for purchase of immovabte property "lndustriat Land at Patwari Hatka No.02, Khasra No. 311/5
vittage Bhaistay Tehsil, Mhow, Indore-453332" (mortgaged with our bank towards credit facitities of M/s Gurudeo
Export Corporation Pvt. Ltd.) in the company name from the guarantor without stipulation of interim security is
subject to same witt be mortgaged with. our bank after change of property ownership in company name.
Company to submit undertaking in this regerd.
4. Stock audit and all other audit/ inspection shall be conducted as per extent guidetines of our Bank and there
should not be any pending irregularity before release of enhanced credit limits.
5. Bank's charge over buitding/machineries/stock/book-debts and modification thereof, if any, shoutd be
registered with the Registrar of Companies within 30 days of its creation as per companies Act.
6. The borrower is prohibited from using the loan amount or any paSthereof for any purpose other than for which
it has been sanctioned and if the Bank apprehends or it has reasons to believe that the borrower has violated or
is violating this condition, the Bank has a right to recall the loan amount or any part thereof at once
notw.ithstanding anything contrary to the above or any other agreement.
7. The company shatt deal exclusively with our bank only.
8. Company to ensure and undertake that there shoutd not be more than +/-5% variation between the provisional
852023 and ABS'2023 submitted to our bank.
9. Company to submit tatest CA certified net worth certificate (As of Mar'2023) f or atl directors and guarantors.
10. Company to ensure that att the prime securities and coltateral securities are comprehensivety and adequatety
insured with appticabte bank clause as per tsank's extant guidetines and vatid policies are held on record.
Il. Company 'to ensure that att immovable securities are marketable, mortgageable, property demarcated,

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Page { of lQ
SANCIiON LCttEr-M/S GURUDEO EXPORTS CORPORATION PRIVATE LIMITED

12. Vatuationsfiitte Search reports of att the immovable property shatt be obtained as per extant guidetines of the
Bank.
13. Inspection of primary/cottaterat security shatt be carried out by the branch on regular intervals as per extant
guidetines of our Bank.
14. Interest accrued over the deposits under collateral security shatt be reinvested and not to be released'
15. Company to emphasis on earlier recovery from the debtors above 6 months.
16. Company/direciors to undertake ihat infusion of capitqt shalt be done as and when required and stiputated
by
bank.
l?. Company to ensure that stock is ctearly demarcated and an undertaking to be submitted in this regard.
lg. Company to submit an undertaking that no titigation in force against the firm/ company or against the partners/
director.
19. Company to ensure that att the licenses & statutory approvats are obtained and are in the name of the company,
are valid, in force and submit copies of same'
20.Company to ensure that, confirmed export orders shalt be obtained within 30 days of availment of PC limit as
per extant guidelines.
21. ROC Search Report shatt be obtained on the regular basis as per the guidelines.
22.AI guidetines with respect to bitt discounting shoutd be complied.
23.Altthe norms of ECGC to be fotlowed & Limits sanctioned to be notified to ECGC.
24.1n case the Borrower is not abte to tiquidate the packing credit drawats within 135 days, interest rate at general
rate plus penaI rate of interest witt be charged unless otherwise permitted.
25.Company to submit an affidivit from the Company, Directors & Guarantors confirming that the names of
Company, Directors &Guarantors are not appearing in the Defaulter, RBI and Witfut Defaulters/Caution list,
ECGC SAL List/CFR and the same shatt be hetd on record.
26.The Company shatt submit the monthty stock and book debt statement, to the Bank by 15th of subsequent month.
2?. Limit shatt be released subject to avaitabitity of drawing power, Company to submit Stock & Book Debt
Statement as per prescribed format of the bank and DP to be altocated accordingty.
2g.prime security is stored in teased/rented premises, company to submit copy of vatid tease/rent agreement and
letter of free access from the Landtords/ Godown owners. DP shall be permitted against stock stored in
godowns wherein letter of free access and valid lease is obtained.
29.The company to submit copy of registered lease agreement entered with the Landlord which is valid tilt the
currency of our advance or has a renewabte clause therein, for alt the rental premises where the stocks
finan.ced by our Bank are stored. Further, copy of agreement with the various warehouses/ storage facilities to
be hetd on record to ensure that, there is no onerous clause which may adversely affect the interest of the
Bank.
30.ValuationfSR of alt the immovabte property lf'.tt U" obtained as per extant guidetines of the Bank.
31. ROls witt be tinked as per latest prevaiting MCLR circular and the same to be reset/charged as per extant
guidetines of the Bank.
32.Rate of interest /commission and otherterms appticabte to the credit facilities are subject to review from time
to time and are tiabte to be modified at the sote discretion of the Bank. lnterest as indicated witt be / witl
continue to be charged with monthty rests. The bank reserves the rrfrrt to give notice at any time and thereafter
to charge such other rate of interest as the Bank may decide.
33.Company to submit latest property tax receipt of att the mortgaged property.
34.Compaiyto ensure that perfection of security done forattthe existing credit facilities.
35.At any point of time the totalworking capitattimits of the company shoutd remain within the assessed timit.
35.The company must obtain NOC from our Bank before offering its Corporate Guarantee to others.
3?.The next review of timits to be done on or before 11.10.2024 and company shoutd submit relevant papers with
batance sheet Two months in advance so that review is to be done timely. For any reason for wants of
papers/data/clarification in the renewaI is not done timely penaI interest wit[ be apptied in the account
butomaticatty at prevaiting penat interest rati for the period for which a/c remains overdue.
b'rr'wers
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sanction Letter-M/s GURUDEO EXPORTS C0RP0RATI0N PRIVATE LIMITED

3g.The borrower shalt not transfer / invest funds of the company in whatsoever
manner in any other concern
without obtaining the prior consent of the Bank'
40.Company to ensure ihat financiat disciptine is maintained, and performance of
the company is in line with
projection submitted by the company.
41. Company to ensure that vatid and tegatty enforceable EM/RM is created/extended/modify
over att the mentioned
cotlateraI securities titt the currency of our bank/ coqsortium credit facitities.
42.The company to submit an undertaking from the boriowers/ guarantors that they are
not director or related to
any director of our bank or any other bank.
prior permission of
43.Company to submit undertaking that no major change in the management is effected without
the consortium.
44.compty with att the requisite Statutory formatities required for ensuring effective vatid and [ega[
charge on the
various securities stiputated and execute att the necessary documents in favour of the Bank or other authorities
as may be specified by the Bank therefore.
45.Company to ensure that, company's foreign currency exposure is atways adequately hedged as
per Our Banks
guidetines, faiting which appticabte additional ROl to be charged in the account for the defautted quarter.
46.|t shatt be ensured that that, att the collaterals are marketable, mortgageable, property demarcated, separatety
& distinctty identifiabte, Not Land Locked and are in the possession of then owners'
4T.Company to submitted audited financiat for FY 2022-23 immediatety after finatization but not later than
3lst
0ctobel 2023.
48.Any other terms and conditlons as stipulated by the sanctioning authority/bank to be comptied with'
49.A1 appticabte standard terms and conditions as mentioned in lC 9287 dated 16.05.2012 & 02505-2021 dated

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Parre 7 of lQ
Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

I. CONDITIONSPRECEDENTTODISBURSEMENT
l. KYC Compliance and Due Ditigence
Branch to confirm that KYC norms have been complied with and due diligence exercise carried out and reporl
submitted before release of credit timits.
2. Site Visits
. Technicat Officer/Bank Officiats of bank to inspect\the unit and his report be hetd on record relating to
technicaI feasibitity and economic viability of the project.
. In case of existing limits, the report also to cover detai[ on project imptementation and progress of the
project/unit.
3.Environmental clearances
. In case of industriat units, permission and ctearances to be obtained from pollution control board.
. Necessary clearances to be obtained from industry department and locaI authorities as applicable.
4. Documentation
. Branch shatt obtain the confidential report about the borrower from existing bankers and the same should be
. found satisfactory before release of the facitity.
. Branch head to inspect the property and due ditigence report and inspection report be kept on record.
. Branch to obtain latest valuation reports on the properties offered as collateral security from our Bank's
PaneI Vatuer
. Securitf documents to be obtained from the borrower and guarantors.
. Effective Mortgage to be created on the properties as per stipulation after obtaining search report for 30
years & non-encumbrance certificate from empanelled advocate and valuation from empane[[ed valuer.
. ln case of companies/trust/societies, documents to be executed by authorized persons as per resolution.
r Common Sea[ of the company be affixed on the documents as per authorization.
o Certified copies of memorandum of association and articles of association of the company be kept on record.
. The Borrower and the Guarantors shatl furnish a consent letter to the Bank in the prescribed format
authorisingthe Bank for disclosure of their names, in the event of the Borrower becoming defaulter, to CIBIL
or other agencies as per RBI guidetines.
. In case of company, the borrower and the guarantors shat[ submit an undertaking that no consideration
whether it be by way of commission, fee, brokerage or in any other form shatt be paid by the former or
received by the latter either directty or indirectly in regard to the personal guarantee furnished by directors
of the borrower conlpany.
. Fresh valuation of mortgaged property to be taken once in three years. In case of property valued Rs. 5.00
Crores and above, two vatuations to be obt€ined and lower of the same to be considered.
5. Warranties. undertakings & guarantees to be made by the Borrower
o Borrower to submit undertaking as per annexure.
. Share application money to be converted into equity. Borrower to give undertaking giving specific date by
which it is to be converted into equity.
. Statutory dues, if any, to be paid by borrower before disbursemenhpf the loan.
. Declaration to be obtained from the borrower that the level of unsecured loans wi[[ be maintained at the
existing [eve[ in the business on a long-term basis during the currency of the Bank's [oan.
. Personal Guarantees of partners/ promoters/directors/guarantors/owners of mortgaged property to be
obtained as per stipulation.
6. Creation of security interests and charge
Search to be conducted from ROC in case of companies for ascertaining the charges on its assets and report
to be hetd on recprds.
. 0ur bank's charge to be registered with ROC within 30 days of documentation for limits & securities and
certificates to be hetd on-record.
. Our Charge with CERSAI be registered on mortgaged properties.
T.Vetting

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Paoe I of
sanction Letter-M/s GURUDEO EXPoRTS C0RPoRATIoN PRIVATE LIMITED

8l-PA ( Oredit Process Audit)

In case exposure is Rs.1.00 Crores or above, CPA (Credit Process Audit) to be conducted and compliance of
att pre-disbursement sanction stiputations be confirmed before disbursement
9. lnsurance
The borrower's assets offered as security (prime and coltaterat) for the facitity to be kept fulty insured
comprehensivety for ll0% of assets vatue. A copy of the poticy to be submitted to the bank. A tist of the
current insurance poticies atongwith copies thereo'f to be submitted to the bank detaiting therein the names
and addresses of t'he insurer, brief particulars of goods covered, type of cover, amount of cover and date of
expiry of each poticy. Insurance poticies to contain the agreed bank's clause.
10. Tie uplor lqrJly
. Borrower to demonstrate to the bank that satisfactory arrangements have been made for tie-up by way of
equity from the promoters / private equity players / strategic investors / other investors/ internal accruals.

a. Oompliance Cerlificate
. Branch to submit compliance certificate for having comptied with att the terms of sanction to controlling
office within 10 days from the date of release of the credit timits
. The borrower to disptay a board in prominent ptace in the project/office premises indicating that the
assetg/stocks are hypothecated to bank.
. Borrower to authenticat6 the detaits of borrowing to Registered Information Utitities (lU), tike NationaI e-
Governance Services Ltd (NeSL). Necessary charges in this regard are to be borne by the borrower.
r Status "Deemed to be Authenticated" (byNeSL): As per Gazette Notification no. No. lBBl/2019-20/GN/REG046
on 25th Juty 2019, corporate debtor remains recalcitrant and does not take any action to authenticate
information presented (i.e. does not respond even after 3 reminders (emaits) to it by NeSL-lU) lU (NeSL) witt
record the status of authentlcation as "Deemed to be Authenticated" as Yellow coloui in the record.
b. Intgrest Servising
. Interest ivitt Ue charged on monthly rests and is to be serviced as and when charged in the account.
. In case the borrower pays higher rate of interest/charges/commission to any other financing bank/Fl in the
consortium, the same shatt be paid to our Bank atso. Att other terms and conditions stipulated by other
financing banks/Fls sha[[ atso apply "mutates mutandis" for our share of credit facilities. Branch to obtain the
copies of sanction letters from other Banks in the consortium for comparison of sanction terms
. interest as stipulated witt be / witt continue to be charged with monthty rests. The bank reserves the right to
give notice at any time and thereafter to charge such other rate of interest as the Bank may decide depending
upon revised credit rating of the borrowdr based on its audited annuaI balance sheet.
. Borrower to route a[[ cash flows through accounts with our bank. Sates invoices of the borrower to mention
our bank account details for direct deposit by the customers of the borrowers.
r Interest, Commission and other charges are subject to variation as may be notified by our Bank from time to
time.
c. Review of Internal and Fxternal rating {'
i. ^ lf the review of internaI rating is not carried out within a period of maximum ]2 months from the date of
[ast review of rating,
Att the concessions, if any, sha[[ be withdrawn immediatety
ano
- Appticabte interest rate tinked to internaI rating of one notch below shatt be charged.
ii. lf external rating of borrower is downgraded:
-' From investment grade (AAA/ A1+, AA/A1, A/A2, BBB/A3 or equivalent) to
noninvestment grade (BB/ A4 & below, inctuding "D").

Paqe I nf -l
SANCtiON LEttET-M/S GURUDEO EXPORTS CORPORATION PRIVATE LIMITED

per
b) Interest rate as applicabte to UBC/CR-6 & BB/A4 and below is to be charged as
the extant interest rate circutar'
c) Early review/ renewal with revised internal credit rating based on ABS may be taken
up with sanctioning authority for revision of pricing and for other risk mitigations.
Dynamic review of !nternal Rating
Dynamic review of internal rating shatt be carried out for att tisted entities on a
quarterly basis. In
case of downgrade of Internal Rating, Bank is autholized to take the specific toan related actions /
mitigants (case to case basis) as under:
. Stiputatingadditionatco[[aterats
. Infusion of equity
r Reset of interest rate
. Loan facitity adjustment
r Reduction of limit
. AnY other aPProPriate action

3.. REPAYMENT OF TERM LOAN

l-WCTL of Rs.15.00 Crore, under UGECL
i. Moratorium of '12 months from first disbursement
ii. Term loan to be repaid by the borrower in 36 monthty instatments and intertest is to be serve as
and when debited. Fir5t instatment to fatt due on 31.01'2022'

2-WCTL of Rs. 16.00 Crore, under UGECL 2.0 Ext.

i. Moratorium of 24 months from first disbursement
ii. Term [oan to be repaid by the borrower in 48 monthly instatments and intertest is to be serve
as and when debited. First instatment to faltdue on 31.03'2024

l.Submission of stock and book debt statements

. The Borrower shatt submit the monthty stock and book debt statement, to the Bank by 15th of subsequent
month. The detay in submission of Stock Statement attracts penal interest.@2% over and above the interest
rate charged.
The stock and book debt statement shat[. contain the futl detaits of stocks, debtors (agewise), creditors
(actuat tevet) acceptances & details of u'sance LCs opened and insurance detaits, as on date of stock
statement.
The book debt statement shatt indicate the debts outstanding up to 90 days and above for different stabs
separatety. Book debts statement to be certified by C.A once in every six months'
MSOD, qpR and Hatf yearly operating / Funds ftow statement (H0F) shatt be submitted by borrowers
with
credit timits of Rs.5 crores and above. *
The outstanding borrowings at atl times be futty covered by the drawing power based on monthly Stock
and
Book Debts Statement. lf at any time, the drawing power fatts betow the amount borrowed, the Borrower
shattiorthwith adjust such excess borrowings.
Letter of no tien and free access be obtained from the owner of premises in case the goods are stored in
rented premises.
. yearty stock audit witt be conducted by outside quatified chartered accountants as per bank's decision and
the expenses be borne by the borrower, in case of timit of Rs. 3.00 Crores and above for ProPrietorshiP
concern and Rs. 5.00 crores and above for partnership/companies.

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Paoe 'l 0 nf l0
Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

. Stock-in-process at conversion cost ptus raw materiaI cost or reatizable value; whichever is lower.
. Finished goods at cost of sale, invoice price or market price /export prices; whichever is the lowest.
. Book Debts: At realizable vatue
3.Drawing Power
o DP to be attowed against paid up stock and etigibte book debts.
r Book debts for more than 270 days in case of Gowrnment & more than 180 days in case of other wil[ not be
considered for the purpose of DP. Book debts more than 90 days/unpaid stocks wi[[ continue to be the part of
the prime security. The stock under D.A LC shalt not be reckoned for arriving drawing power. The
creditors/acceptance (unpaid stock) shatl be reduced while arriving at drawing power.
. Drawing power allocated by tead bank to be ascertained monthly in case of consortium advance.
4.End use qf funds
. Cash credit timit to be utitized only for working capitaI purpose for genuine business transactions in which
the party deats.
r No diversion of funds to be attowed for non business transactions or creation of fixed assets.
. proper end use of funds shatt be ensured.

Llj-cAsffi I

1. Commitment Charqes
In case of limits of Rs. 5 crore and above, the borrower sha[[ pay commitment fee at 0.50% p.a. if average
utilization is less than 70%. Commitment charge would be made applicabte wherein working capitaI timit
remain unutilized in excesg of 30% of .the sanctioned timits. Commitment charge is to be recovered on
unutitized portion of working capitat timits in excess of 30%of sanciioned timits. The unutitized portion of
working capital timit shalt be ascertained by the branches by calculating the average utitization during the
quarter and comparing the same with the sanctioned timits. Branch to follow the extbnt guidetines.
2. Intra group transfers not to be altowed unless and until it is a genuine trade transaction in which the
borrower deats.
3. No excess over [imits to be a[[owed
4. Borrower under sote Banking to exclusivety Bank with us and shatt submit an undertaking to this effect.
5. Borrower to maintain adequate books of accounts which shoutd correctly reflect its financial position & scate
of operations and not to radically change its accounting system without prior notice to the Bank.
6. Penal interest @1% p.a each witt be charged on each of the fotlowing defautt. Maximum penat interest not to
exceed 2%
o Detayed submission of CMA/Reneviat data for the period beyond 1 month from due date
o Non compliance of term of sanction
7. f n following cases the penal interest wilt be 2% p.a

o Non submission/detayed submission of QPR

o Return of Cheques Purchased/Discounted: from the date of purchase titl adjustment
o Return of Bitts P{.trchased/Discounted:from the date of pufthase titt adjustment.
o ^ Non submission of audited batance sheet of previous financial year by l4th November
o Excess over [imit/drawing power
ci Non submission of stock and book debt statement before l5th of next month.
o Delayed submission of CMA/Renewat data (for the period beyond due date)
o Delayed payment of Term Loan/DPGL installments: for the period of detay in respect of the instaltments
detayed.

6. 0PERATI0N 0F - EXPORT ADVANCE (EPC/PCFC/FDBP/FUDBP/FDBD Facitity):

l. Tenor
i. Pc - maximum tenor of lB0 days unless otherwise p6rmitted
ii.
Usance Bitts - Maximum tenor of 1@^day;,Hn!e-sgrolAeJy.vjFF&eF{nitt
i\diiiiror {-r vL,.l
2. Advances to be c-overed under wrpcG ald_uhE5Lb"":cr

4v*Y
For Gurppec Exporls Cct"poration Pvt. Lto

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Pase 11 ofl9
Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE tlMlTED

i. Att the norms of ECGC to be fo[[owed

ii. Limits sanctioned to be notified to ECGC
iii. Payment of fee be made to ECGC regutarly and in time
iv. ECGC fees for PC limits be recovered from the borrower
3. The Borrower shall submit a statement of stocks relating to the export orders at monthty intervals.
4. Bitts drawn on sister/associate concerns wi[[not be accepted for purchase / negotiation /discount.
5. The Bank to call for opinion report on drawees fmm Dun and Bradstreet or any other such agency. The
Borrower sha[[ bear / incur the cost in such cases.
6. The facitity to be allowed only against foreign LCs / confirmed export orders as per stipulation which are to
be kept with Bank atong with shipment schedute.
7. In case the Borrower is not able to tiquidate the packing credit drawats within 180 days, interest rate at
general rate plus pena[ rate of interest witl be charged unless otherwise permitted.
8. Bills presented/discounted shoutd represent bonafide / genuine trade transactions
9. Documents to the titte of goods are to be drawn in the name of the Bank.
10. Drawing power in the packing credit account will be permitted to the F0B vatue of the export
orders/contracts or letter of credit deposited with the Bank less our stipulated margin subject however to
' the condition that the outstanding in the export packing credit accounts are fu[[y covered by the advances
for stock/value of stocks less stipulated margin.
11. Forward exchange cover in respect of export transactions witl be booked by the Borrower
12. Any advance-payment-reEeived by the Borrower in respect of the export contracts/orders financed by us
witt be credited by the Borrower to EPC account and the DP wilt be reduced suitabty.
13. As per available DP, packing credit funds witt be transferred to the Borrower's operative current/Cash credit
account for utilization and meeting working capital needs for exports. Funds witl be utitised for the purpose
for which the PC is sanctioned. The proceeds of the bitts negotiated, however, witl be credited to the EPC
account.
14. Bitls negotiated/purchased wilt be crystatlised by us in the event of non- realisation of the bitls within 30
days from. the expiry period of the transit period/due date. The foreign currency amount of the bitts witl be
converted into rupees on the 30th day at the prevailing ready TT setting rate and the transaction wilt be
treated as ready sale.
15. Foreign exchange business witl be routed, through our bank's branch on proportionate basis.
'16. The documents witt be sent for realisation only through the Bank's correspondents
17. lq case of overdue bitls, the full amount of the bitts witt be recovered and the interest thereon witt be
charged at normal rate of interest prevaiting at that time for the futl period.
18. Other terms and conditions as appticabte jo CC facitity witl be appticabte.

7, OPERATION OF -
IMPORT/INLAND LETTER OF CREDIT
l. The goods procured under DA LCs shatt be released to the borrower on execution of trust document in favour
of the bank.
2. The borrower shall furnish an undertaking to provide funds for pa4ment of the bitts under the LCs on the due
dates from their own sources. Funds in cash credit can be utilised for the purpose subject to avaitabitity of
timit and drawing power.
J. The borrower shatl indicate separately the stocks covered by DA bitts in the monthty stock statement for
cash credit hypothecation facitity and such stocks shatl not be inctuded for the purpose of computing drawing
power tilt the retative bitts are paid.
L. lmport [etters of credit to be established against vatid import only.
t Att the import trade, exchange control regulations/ FEMA stiputations/ RBI guidetines to be comptied with.
6. LCs shatt not be estabtished in favour of associate/group concerns.
7. While requesting for issuance of Inland LC.for 1 Crore and flo,ye*,[o11 r to orovide KYC and bank detaits of
I cFR/CRrLC,
i

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Pase12ofl9
Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

8. Att terms & conditions appticabte for CC shatt atso be appticabte including submission of stock and book debt
statements on monthtv basis.

8. OPERATION OF - LETTER OF GUARANTEE

1. Counter Indemnity to be obtained from borrower.
2. Duty discharged FDRs for margin atongwith letterrof lien be kept on Bank record and lien be noted for the
FDRs in Bank's Books.
Branch shoutd ensure that there should not be any onerous ctause in the LG Proforma
4. Our usual [imitation clause be added at the end of LG.
5. Party to submit satisfactory performance report from the beneficiary before renewing/extending the
guarantee Ietter.

i s. cREDrr MoNrroRrNG
I
I

i. Branch/RO to monitor the account regularly.

ii. Periodic inspection to be carried out by the branch officiats to satisfy themsetves about end use of funds and
to ensure project implementation as per schedute and hold report on record. Alert to be exercised and
corrective measures be taken immediately in situations where progress is not as ptanned or any misuse of
funds is noticed.
iii. 0uarterty technicaI and.financiaI progress reports to be submitted by the borrower to bank until the
comptetion of the Project.
iv. Borrower to submit the audited annual financial slatements at the end of the Financial Year during the
currency of the loan, but not later than 15'i Nov every year.
v. Branch to carry out periodic inspection of securities regularly and submit report to the controtting office. Q-4
Godown inspection report must be submitted on quarterly basis.
vi. Party to submit QPR (Quarterly Progress Report) as per schedule where timit is Rs. I crore or more. Non-
submissign witlattract penal rate @ 2% p.a.
vii. Branch to submit MMR as per bank's guidetines to the respective authority.
viii. External credit rating to be obtained annually from accredited Rating Agency viz CRlSlL, ICRA, CARE or FITCH
where exposure is Rs. 5 crore and above.
ix. Yearty Debit Batance Confirmation to be obtained.
x. Branch to carry out necessary action to rectify the Audit irregularities and send confirmation to controlling
off ice.
xi. Yearty review of the credit facilities to b{ carried out and borrower to submit att requisite papers one month
in advance
xii. Stock Audit to be done as per extant guidelines.

xiii. Ei-naneial covenants and testing

r DER fottowing any disbursement to not exceed the Project DES
. The financiat covenants shatt be tested on an annual basis lFom the financiaI year in which the principat
rdpayment commences. lt shoutd be ensured that FACR/DER/CR/|0L to TNVDSCR are maintained as
projected.
. Non maintenance of financiaI covenants witl attract penal charges if sanctioned as per approvaI note.
. Bank sha[[ compare financials submitted by the borrower to the bank with the financiats submitted to R0C.
Any variation sha[[ be treated as misrepresentation to the bank.
xiv. Book Debts beyond cover period, written off and subsequent realizations shoutd also be deposited directty
into account of 'our bank/consortium.
xv. For all business loans, borrowers to submit monthty stock and book debts statements to bank.
xvi. Bank shalt carry out due ditigence of stock/book debts position inctuding visit, directly obtaining balance
confirmation from debtors, appointing Stock & Book Debts atdit.

ffi
sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

l. Events of Defautt (EOD)

Each of the fottowing events shatl, inter atia, constitute an Event of Default
. Failure by the Borrower to pay any amount due and payabte to banks e'g servicing of interest on working
capitat timit.
. oelay in achieving commerciaI operations beyond the estimated c0D
o The borrower ceasing or threatening to cease to carrFon its business
. Non compliance of any term or condition stiputated by bank'

2. Consequences of E0D
Upon the occurrence and continuance of an EOD, a[[ amounts outstanding under
the facitity shat[ be immediatety
due and payable and the Bank maY:
. lmpose penatty @ l% p.a on each defautt subject to maximum penatty of 2% over and above the stipulated
interest rate on entire loan amount for the period of defautt.
. Exercise powers to reca[l the advance and take recovery action inctuding action under the SARFAESI Act
2002
. Suspend or terminate atl undrawn commitments and enforce the Security
. Demand cure of the default
3. The Banl{ also reserves the absolute right to recall the advance in case of:
o Limits not being utitized by borrower, misutitised or,
o Deterioration in the loan accounts in any manner whatsoever, and/or
o Non-comptiance of terms and conditions bf sanction
o continuous excess in the cash credit/other working capita[ [imits
o Unsatisfactory operations in the account
4. The Bank shatl also have right to:
i. Examine the borrower & guarantors from angte of Witfut Defautt & Fraud and report to RBl, Potice/CBl'
(Loc)' if required'
ii. Request Bureau of lmmigiation (BOl) through cRD, c0 for issuance of Look out circular
iii. Examine the role of Chartered Accountants (CA) of borrowers for reporting to lCAl and inclusion in

Potice/CBl comPlaint.
iv. . Examine the roie of TPE viz. Adv, Valuer, Stock Auditor etc for reporting to IBA/Potice/CBl.
v. Take up with non-tending/non consortium banks for closure of accounts opened without N0C of the
bank/consortium and transfer of avaitabte balance to the bank/consortium.
vi. Borrowers to make att eff orts f or deposit of att cash inf tows into designated account with
bank/Consortium.
[imit
vii. Bank reserves right to obtain direct batance confirmation from debtors of borrowers with exposure
of 5 Crore and above annuatlY.
5. Solvency . t proceedings been
i. The Borrower has not taken any action nor have any other ste$s been initiated or [ega[
staited or threats issued against Borrower for his bankruptcy (or proceedings analogous to it) or for the
appointment of a resotution professional, receiver, administrator, administrative receiver, bankruptcy
trustee or similar officer of it or any of its assets or revenues in any jurisdiction(s) to which the Borrower
or any of the Borrower's assets are or may be subject to inctuding under the lnsolvency and Bankruptcy
Code, 2016.
' ii. The Borrower is abte to pay his debts and is not insolvent or bankrupt.

ff"ffi
Paqe14of19
Sanction Letter-M/s GURUDE0 EXPORTS C0RPORATION PRIVATE LIMITED

2. The Borrower further agrees that the Lender may at any time transfer, assign or novate by way of
securitization, direct transfer and assignment or otherwise any of its rights, benefits or obtigations under
this Agreement to any party without the requirement of any further consent of the Borrower. This
Agreement shatt atso ensure for the benefit of the successors of the Lender.
3. In case of an assignment of the entire Loan by the Lender to a bank or financial institution, even though the
Interest Rate appticabte to the Loan on the date,of assignment vis-ir-vis the assignee witt be the same as
was applicabte vis-i-vis the Lender on such date, it witt be computed with reference to the reference rate of
the assignee bank/ financiat institution and accordingty the spread appticabte with reference thereto shatl
be adjusted by such assignee lender.
l+. In the event of demand made by any banks or financiaI institution(s) from whom the Lender has obtained
financiat assistance, the Borrower shatl pay the EMI directty to such banks / financial institutions. The
Borrower(s) agrees that he sha[[ not do or cause to be done anything which witt impede the rights of such
banks / financiat institutions in their recovery of any dues, including the rights over the product, if any.

I 12. Acceptance of Terms and Conditions by Borrower

ll
i

o Borrower to return a copy of the Terms and Conditions duly signed by authorized signatory/ies or guarantors
in token of having accepted the stiputations of sanction.

For Union Bank of India

:ftk{
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ws
enerat Manager

ACKNOWLEDGEMENT

| / We acknowledge receipt of the credit sanction intimation and also hereby confirm that the terms & conditions
are acceptable to me / us. | / We undertake to furnish a[[ necessary particulars required by the Bank as and
when catted for.
atl the above-m enlioned terms and condition.
nditi
Signature of Borrower

\r*"n! r:-
M/s Gurudeo Exports Corporation Private Limited ror O[dOeo Exports Cprpgqltion Pvt. Ltd

Director
*
Signature of Guarantors
Mr. Hemant Jain \\ ,J }
J\tunu*'t- "-
Mr. Punit Jain Al
U,*JJ;-t
-'-74

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.l
Page 1i of Q
Sanction Letrer-M/s GURUDEO EXPORTS C0RP0RATI0N PRIVATE LIMITED

Mr. Suvrat Jain

t\- ]

Mr. LakhantaI Jain

P5,

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Mr. Anit Jain

Mr. Kantitat Jain

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r{q\,l\\

Mrs. Priya Chothwani

9at'
M/s Lakhantat kantitat Brokers Pvt Ltd

M/s Lakhantat Kantitat & ComPanY , o, t"i*fi*,*{.,r*f co.,

U W-i,*,

Pase I6 of10
sanction Letter-M/s GURUDE0 EXPoRTS C0RP0RATI0N PRIVATE LIMITED

UNDERTAKING
We hereby undertake to fottow the under mentioned clauses. Prior consent of the Bank would be taken if the under
mentioned clauses are not fottowed in fu[[ or part thereof'
L There is no tegat, administrative or arbitrat proceeding pending or threatened in India or any other jurisdiction
regarding the effectiveness or vatidity of any of the ticenses/ approvats or consents or the Security
Documents.
The company/tirm or the directors/ promoters/guarantors/associate concerns of the company are not on
ECGC caution tist/specific approval tist/RBl's defaulters/caution tist, COFEPOSA defaulters list or any bank's
defaulters tist, and that no director of the company is disquatified under section 164(2)(a) of the Companies
Act, 2013.
Wb witt not enter into borrowing agreements, either secured or unsecured, with any other bank or financial
institution for any cost over runs beyond the projected cost as per the Financing Ptan. The cost over runs if
any, shatl be funded by additional promoter's contribution.
We witt not undertake any new project or expansion scheme without informing the bank unless the
expenditure on such project is financed out of proceeds from investments or from long term funds received
for financing such new projects or expansion
6 We witt not make any materiat modifications to any of the Project Agreements
6. Unsecured [oans from friends and retatives wit[ be retained in the business on a [ong term basis during the
currency of bank loan and it witt be subordinated to the banks'credit.
Any ditution in the equity.hotding of promoters below controtting stake witt not be resorted to without bank's
consent.
The toan/credit facitities witt be utitized for the purpose for which they are sanctioned and witt not be utitized
for any other purpose.
The toan proceeds shatt not be utitized for specutative or illegaI activities and does not/shatt not constitute an
offence of Money Laundering underThe Prevention of Money Laundering 4ct,2002.
10. Share Apptication money witt be converted to equity and it witt not be refunded to promoters/sharehotders.
11. We witt ' keep the Bank informed of any material adverse change in condition/operations of the
business/management set up/capital structure and atso submit remedial steps to be taken.
12. We witt maintain adequate books of accounts which wilt correctly reflect the financiat position & scate of
operations of our business. We witt not radical[y change the accounting system without prior notice to the
Bank.
13. We witl exclusively bank with Union Bank of lndia under sole banking arrangement and the entire business
(realization of book debts, advance payments, unsecured loans, Capital Infusion etc) wilt be routed through
account with bank. t
1A We witt not make any inter firm transfer of funds except for genuine trade transactions supported by invoices.
Promoters will not raise loan by their equity hotding in the company and equity wi[[ not be ptedged without
bank's prior consent.
We witt not formulate any scheme of amalgamation or reconstruction without prior consent of the bank
tt. We witt not create any charge, [ien, or encumbrance over the lpsets of the company or any part thereof in
favour of any Financiat institution, Bank, Company, firm or persons except with the permission of the bank.
18. We witt not undertake any guarantee obtigation on behalf of any other persons except in ordinary course of
business.
19. We witt not sell or transfer any property or cotlateral security during the currency of the [oan.
20. We witt not invest by way of share capital or lend or place deposits with any other concern except normal
trade credit or security deposit in the routine course of business or advances to employees or any other
advance in the .normal course of business.
21. We witt not declare dividend unless company's debt servicing obtigation is honored.
22. We declare that none of the directors of the company is related to directors of Union Bank of lndia or any

t'*).
Sanction Letter-M/s GURUDEO EXPoRTS CoRPoRATIoN PRIVATE LIMITED

profession address and/ or

23. We witt notify any change in the residence address, employment/ business or
the Bank in writing
contact numbers wett in advance. In case an advance notice is not possibte, we witt inform
immediatety, but not later than a maximum period of 7 days of such change'
24. we agree and confirm to bear al[ costs of making good any deficit in stamp
duty and/ or atl penalties thereon,
on any document.executed by the Borrower/s in retation to the Loan and/or security.
.Approvat/NOC for purchase of immovable property located at Industrial Land at
25. We ajree and confirm that
patwari Hatka No.02, Khasra Nio. 311/6 vittage BhaistayJehsil, Mhow, Indore-453332 (mortgaged with our bank
towards credit facitities of M/s Gurudeo Export Co'rporation Pvt. Ltd.) in the company name from
the
guarantor without stiputation of interim security is subject to same witt be mortgaged with Union Bank of

india after change of property ownership in company name". The property witt be again mortgaged
with Union
Bank of lndia.

We hereby agree to the undermentioned rights of the bank during the currency of their
assistance:
Withhotd disbursement of the amouni of loan equivatent to the provision against margin money for
working
1. the working
capitat in the cost of the project till such time as the project is near completion and the buitdup of
capitat commences.
2.
. Review the cost for the project and means of finance anytime during implementation
period of the project
project site the securities inspected from
3. Examine the books of accounts of the borrower and to have the and
incurred
time to time by officers of the Lenders and / or outside consuttants/agencies. Reasonable expenses
by the bank in this regard witt be borne by the Borrower.
L. Bank witt have the oltion to'down-setl the entire loan or part thereof to any other bank and the Borrower
shal facititate such down-sel[. However any such transfer shatt not result in additionat cost for the Borrower.

Bank reserves the right to stiputate additionat conditions in their absotute discretion prior to financiaI
closure.
Bank witt also have the right to stiputate any additional condition, as considered necessary, upon the occurrence of
any event, which may have any adverse impact on the business of the borrower'

M/s Gurudeo Exports Corporation Private Limited for Gurtlbo Exports Corporation Pvt' Lto

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Signature of Guarantors
Mr. Hemant Jain \r
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Mi. Suvrat Jain

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Pase 18 of l9
Sanction Letter-M/s GURUDE0 EXPORTS C0RP0RATI0N PRIVATE LIMITED

Mr. Lakhantal Jain

Mr. Ani[ Jain \

Mr. Kantital Jain

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Mrs. Pushpa Chothwani

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Mrs. Priya Chothwani

3's,
M/s Lakhanlal kantitat Brokers Pvt Ltd

M/s Lakhantal Kantila[ & Company s-.,,4.€i' Co.,

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Partnel.

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