Document:

Exhibit 10.11

 

 

FIRST SUPPLEMENTAL WORKING CAPITAL CONSORTIUM AGREEMENT

 

“THIS FIRST SUPPLEMENTAL WORKING CAPITAL CONSORTIUM AGREEMENT (hereinafter referred to as the “Agreement”) made at New Delhi this 15TH day of June 2012 between M/s Amira Pure Foods Pvt. Ltd., a company within the meaning of the Companies Act’ 1956 and having its Registered Office at B-1/E-28, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi - 110044 and Corporate Office at 54, Prakriti Marg, Mehrauli-Gurgaon Road, New Delhi - 110030, (hereinafter called “the Borrower”, which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns) in favour of Canara Bank, a Body Corporate constituted by and under the Banking companies (Acquisition and Transfer of Undertaking) Act 1970 having its Registered/Head Office of business in India at Canara Bank Building, 112, Jayachamarajendra Road, Bangalore-560 002 and a Branch Office amongst other places at Prime Corporate Branch - II, 2nd Floor, World Trade Tower, Barakhamba Lane, New Delhi-110 001, (hereinafter called “CB” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), State Bank of India, a statutory Corporation, constituted by and under the State Bank of India Act, 1955 and having its Local Head Office at 11,

 

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Parliament Street, New Delhi - 110001 and a Branch Office amongst other places at Overseas Branch, 9th Floor, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi-110 001,(hereinafter called “SBI” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), Oriental Bank of Commerce a body corporate, constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and having its Head Office at Plot no. 05, Sector 32, Institutional Area, Gurgaon 122001 and a Branch Office amongst other places at A-30-33, Rajiv Chowk, New Delhi - 110001, (hereinafter called “OBC” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), Bank of India a body corporate, constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at Star House, C-5, G Block, Bandra Kurla Complex, Bandra (East), Mumbai — 400051 and a Branch Office amongst other places at New Delhi Large Corporate Branch, 4, PTI Building, Parliament Street, New Delhi — 110001, (hereinafter called “BOI” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns),

 

2

 

 

Bank of Baroda a body corporate, constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at Baroda House, 506, Mandvi, Baroda and a Branch Office amongst other places at Corporate Financial Services Branch, Ground Floor, BOB Building, 16, Sansad Marg, New Delhi - 110001, (hereinafter called “BOB” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), ICICI Bank Ltd. a Banking Company within the meaning of Section 5 (c) under the Banking Regulation Act, 1949, and a Company within the meaning of the Companies Act, 1956 and having its Registered/Head Office in India at “Landmark” Race Course Circle, Vadodara - 390007 and a Branch Office amongst other places at Videocon Tower, 11th Floor, E-1, Jhandewalan Extension, New Delhi - 110055, (hereinafter called “ICICI” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), State Bank of Hyderabad, a body Corporate constituted under State Bank of India (Subsidiary Banks) Act 1959 (Act No. 38 of 1959) and having its Registered/Head Office in India at Gunfoundry, Hyderabad and a Branch Office amongst other places at, 16, Kundan House, Nehru Place, New Delhi - 110019 (hereinafter called “SBH” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns),

 

3

 

VIJAYA BANK a body Corporate constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and having its Head Office at 41/2, M.G.Road, Bangalore, and a Branch Office amongst other places at 17, Barakhamba Road, New Delhi - 110001, (hereinafter called “VB” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns), YES BANK LTD. a Company incorporated under Companies Act, 1956 and a Banking Company within the meaning of the Banking Regulation Act 1949 and having its Registered Office at Nehru Centre, 9th Floor, Discovery of India, Dr. A.B.Road, Worli, Mumbai and a Branch Office amongst other places at D-12, South Extension-II, New Delhi - 110049, (hereinafter called “YBL” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns) and INDIAN OVERSEAS BANK, a body corporate, constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at 763, Anna Salai, Chennai and a Branch Office amongst other places at D-28-29, Connaught Place, New Delhi - 110001, (hereinafter called “IOB” which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns).

 

(All of which Canara Bank, State Bank of India, Oriental Bank Commerce, Bank of India, Bank of Baroda, ICICI Bank Ltd., State Bank of Hyderabad, Vijaya Bank, Yes Bank Ltd. and Indian Overseas Bank are hereinafter collectively referred to as “the said Banks” or “the Canara Bank Consortium” which expression shall, unless it be repugnant to the subject or context thereof, include each of them or any one or more of them and their respective successors and assigns).

 

By consent of all the Parties, Canara Bank is designated and recognized as the Lead Bank of the Canara Bank Consortium.

 

If the Consortium of Banks is increased or diminished from time to time by adding to or dropping of one or more Banks or is changed by substitution of one Bank by another during the currency of this Agreement, then the Reconstituted Consortium will be governed by the provisions of this Agreement as if they have been added or dropped herein as the case may be and the term “the said Banks” shall mean and shall be deemed to include the Reconstituted Consortium as well.

 

WHEREAS

 

1.             The Borrower had been sanctioned inter-alia various credit facilities for working capital and the Borrower has executed in favour of the Canara Bank Consortium the Working Capital Consortium Agreement dated 16.08.2010 hereinafter collectively referred to as the Consortium Agreement on the terms and conditions set out therein for working

 

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capital facilities (hereinafter collectively referred to as “the said facility”) the details of which are given in the schedule to the said Consortium Agreement.

 

2.             At the request of the Borrower, the said Banks have now agreed to increase modify/grant additional or reduce working capital credit facilities viz.,

 

	
 
    	
 
    	
Existing
    	
 
    	
Additional
    	
 
    	
(Amount in lacs)
    	
 
    
	
 
    	
 
    	
Limit
    	
 
    	
Limit
    	
 
    	
(Reduction)
    	
 
    	
Total Limit
    	
 
    
	
i. Fund Based Limits:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Cash Credit/ODBD/PC/
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Bills (Domestic / Export)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.     CANARA BANK
    	
 
    	
17100.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
17100.00
    	
 
    
	
2.     STATE BANK OF INDIA
    	
 
    	
2500.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
2500.00
    	
 
    
	
3.     ORIENTAL BANK OF COMMERCE
    	
 
    	
7500.00
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
9000.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.     BANK OF INDIA
    	
 
    	
5000.00
    	
 
    	
2000.00
    	
 
    	
 
    	
 
    	
7000.00
    	
 
    
	
5.     BANK OF BARODA
    	
 
    	
7500.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
7500.00
    	
 
    
	
6.     ICICI BANK LTD.
    	
 
    	
5500.00
    	
 
    	
500.00
    	
 
    	
 
    	
 
    	
6000.00
    	
 
    
	
7.     STATE BANK OF HYDERABAD
    	
 
    	
120000
    	
 
    	
—
    	
 
    	
 
    	
 
    	
1200.00
    	
 
    
	
8.     VIJAYA BANK
    	
 
    	
0.00
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
1500.00
    	
 
    
	
9.     YES BANK LTD.
    	
 
    	
4000.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
4000.00
    	
 
    
	
10.   INDIAN OVERSEAS BANK
    	
 
    	
0.00
    	
 
    	
2500.00
    	
 
    	
 
    	
 
    	
2500.00
    	
 
    
	
11.   HDFC BANK
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
-(1500.00
    	
)
    	
0.00
    	
 
    
	
Total Fund Based Limits
    	
 
    	
51800.00
    	
 
    	
8000.00
    	
 
    	
-(1500.00
    	
)
    	
58300.00
    	
 
    
	
ii. Non-Fund Based : 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
LC-Inland/Foreign/BG
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.     CANARA BANK
    	
 
    	
1000.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
1000.00
    	
 
    
	
2.     STATE BANK OF INDIA
    	
 
    	
2500.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
2500.00
    	
 
    
	
3.     ORIENTAL BANK OF COMMERCE
    	
 
    	
2500.00
    	
 
    	
1600.00
    	
 
    	
 
    	
 
    	
4100.00
    	
 
    
	
4.     BANK OF INDIA
    	
 
    	
—
    	
 
    	
3000.00
    	
 
    	
 
    	
 
    	
3000.00
    	
 
    
	
5.     BANK OF BARODA
    	
 
    	
2900.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
2900.00
    	
 
    
	
6.     ICICI BANK LTD.
    	
 
    	
—
    	
 
    	
2000.00
    	
 
    	
 
    	
 
    	
2000.00
    	
 
    
	
7, STATE BANK OF HYDERABAD
    	
 
    	
1000.00
    	
 
    	
—
    	
 
    	
 
    	
 
    	
1000.00
    	
 
    
	
8.     VIJAYA BANK
    	
 
    	
 
    	
 
    	
—
    	
 
    	
 
    	
 
    	
—
    	
 
    
	
9.     YES BANK LTD.
    	
 
    	
—
    	
 
    	
—
    	
 
    	
 
    	
 
    	
—
    	
 
    
	
10.   INDIAN OVERSEAS BANK
    	
 
    	
—
    	
 
    	
3000.00
    	
 
    	
 
    	
 
    	
3000.00
    	
 
    
	
Total Non-Fund Based Limits
    	
 
    	
9900.00
    	
 
    	
9600.00
    	
 
    	
 
    	
 
    	
19500.00
    	
 
    
	
Total Limits
    	
 
    	
61700.00
    	
 
    	
17600.00
    	
 
    	
-(1500.00
    	
)
    	
77800.00
    	
 
    

 

against the security as stipulated by the said Banks, in addition to or in replacement of the existing facilities on the terms and conditions set out herein.

 

3.             The parties have agreed to enter into this agreement which is first supplemental to and in modification to the Working Capital Consortium Agreement dated 16.08.2010.

 

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NOW THEREFORE THIS FIRST SUPPLEMENTAL AGREEMENT WITNESSTH AS UNDER:

 

1.             Subject to the provisions contained in the Consortium Agreement, each of the said Banks agrees to the borrower availing of all or some of the credit facilities at the sole and absolute discretion of the said Banks from time to time in respect of the credit facilities as mentioned in the First Schedule hereto and the  Borrower agrees to avail the said Facilities undertaking to repay the same together with interest compounded monthly , costs, charges and expenses and further agrees to pay the interest/commission as per the Second Schedule hereto on the various limits sanctioned by the said Banks.

 

2.             The Borrower agrees and declares that the said working capital limits together with interest, costs, charges and expenses in respect thereof shall be secured in favour of the said Banks by a First charge by way of hypothecation/pledge of the Borrower’s current assets viz., stocks of raw materials, semi-finished goods, finished goods, stores and spares, bills receivables including receivables from hire purchase/leasing, book debts and other movable assets of the Borrower, both present and future and also by a Second charge in favour of the said Banks ranking after the charge created in favour of the “term loan lending Banks “ on the Borrower’s specific moveable fixed assets financed through their term loan (other than current assets) in a form and manner acceptable to the Canara Bank Consortium.

 

3.             The Borrower hereby agrees, declares and covenants that all the terms and conditions contained in the Consortium Agreement would remain valid and binding except and save to the extent modified by these presents and the Borrower hereby confirms that the Consortium Agreement shall be continuing and applicable in all respects as modified and enlarged by these presents to the credit facilities granted hereinabove.

 

4.             “I/We, understands that as a pre-condition, relating to grant of the loans/ advances/ other non fund based credit facilities to the borrower, the said banks in the Canara Bank Consortium do not require consent for the disclosure by the banks of all information and data relating to the borrower, including default, if any, committed by the borrower but not limited to history and ownership status , details of security etc., pertaining to the credit 

 

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facility availed , to any of the Banks who are lenders under this consortium and /or to Banks/Financial Institutions who may join as lenders under this arrangement in future. 

 

Accordingly, the borrower hereby agrees, confirms and gives consent for disclosure by the said Banks under Canara Bank Consortium all or any such information and data relating to the borrower including default, if any committed by the borrower ,but not limited to history and ownership status, details of security etc., pertaining to the credit facility availed of/ to be availed by the borrower, to any of the Banks who are lenders under this consortium and /or to Banks/Financial Institutions who may join as Lenders under this arrangement in future as the said bank may deem appropriate and necessary. Further, the said Banks shall also be entitled to disclose information etc., as stated above to any person as may be required /specified by applicable laws. The disclosure as stated above may be made/released in any form (including electronic, media) with such details (including photographs) as may be deemed fit by these banks.

 

Further, we hereby undertake and confirm that I/We shall not raise any dispute in whatsoever manner regarding the disclosure of information/data as aforesaid by Canara Bank Consortium to any Banks/Financial Institutions who are lenders under this consortium and/or Banks/Financial Institutions who may join as lenders under this arrangement in future.”

 

5.             The Borrower unconditionally agrees, undertakes and acknowledges that the said Banks have an unconditional right to cancel the outstanding un-drawn commitments under this Agreement at any time during the currency of the Facilities and that the said Bank shall endeavour to provide prior intimation of the same to the Borrower.

 

The Borrower unconditionally agrees, undertakes and acknowledges that the said Bank shall have the right to unconditionally cancel its outstanding un-drawn commitment in the event of deterioration in the Borrower’s creditworthiness.

 

For the purpose of the above clause, deterioration in the Borrower’s creditworthiness shall include without limitation:

 

(a)           Downgrade by a Credit Rating Agency;

 

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(b)           Inclusion of the Borrower and/or any of the Directors in Reserve Bank of India’s willful defaulters list;

 

(c)           Closure of a significant portion of the Borrower’s operating capacity;

 

(d)           Decline in the profit after tax of the Borrower by more than fifteen percent;

 

(e)           Any adverse comment from the Auditor; and

 

Failure of the Borrower/obligor/security provider to comply with the terms and conditions of this Agreement and/or Security Documents.

 

For the purposes of the above clause “Credit Rating Agency” shall mean and refer to the domestic credit rating agencies such as Credit Analysis and Research Limited, CRISIL Limited, FITCH India and ICRA Limited and international credit rating agencies such as Fitch, Moodys and Standard & Poor’s and such other credit rating agencies identified and/or recognized by the Reserve Bank of India from time to time.

 

The Borrower unconditionally agrees, undertakes to get itself rated by Credit Rating Agency/ies within a period of six months and/or at such intervals as may be decided by the said Banks, failing which the said Banks shall have the right to review the applicable interest rate and/or costs, charges and expenses, which shall be payable by the Borrower/obligor/security provider and on such date/s or within such period as may be specified by the said Banks.

 

The Borrower shall promptly if the said Banks so require, furnish a certificate to the effect that the Facility has been utilised for the Purpose, within such time and in a manner as may be acceptable to the said Bank.

 

The Borrower shall promptly as and when stipulated by the said Banks furnish a certificate from its Statutory Auditor regarding the end use of the Facilities within such time and in a manner as may be acceptable to the said Banks, in order to verify, inter alia, that the Facilities has not been siphoned off/diverted for application other than the Purpose.

 

The Borrower agrees and declares that save and except as modified by this Agreement all the respective clauses covenants conditions and stipulations contained in the said

 

8

 

Consortium Agreement shall in all respects remain in full force and binding on the Borrower in respect of the aforesaid facilities agreed to be granted and/or continued up to the increased limit of Rs. 778,00,00,000.00 (Rs. seven hundred seventy eight crores only) To the extent of any inconsistency between the terms of this First Supplemental Agreement and the Agreement of Loan the provisions of this First Supplemental Agreement shall prevail.

 

9

 

THE FIRST SCHEDULE ABOVE REFERRED TO

 

SCHEDULE OF LIMIT SANCTIONED      (Rs. In Lacs)

 

	
BANK
    	
 
    	
NATURE OF LIMIT
    	
 
    	
FUND
   BASED
    	
 
    	
NON-
   FUND
   BASED
    	
 
    	
TOTAL
   FB+NFB
    	
 
    
	
Canara Bank
    	
 
    	
OCC
    	
 
    	
6300.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
ODBD
    	
 
    	
3000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
PC/PCFC/FDB/FBE/BRD
    	
 
    	
9000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
standby   limit :
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
PC/PCFC/FDB/FBE/BRD
    	
 
    	
1800.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
FLC/ILC   (DA/DP)/BG
    	
 
    	
 
    	
 
    	
100000
    	
 
    	
 
    	
 
    
	
Total Canara Bank
    	
 
    	
 
    	
 
    	
17100.00
    	
 
    	
1000.00
    	
 
    	
18100.00
    	
 
    
	
State Bank of India
    	
 
    	
CC
    	
 
    	
2500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
EPC/FBP
    	
 
    	
(2500.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
LC/BG
    	
 
    	
 
    	
 
    	
2500:00
    	
 
    	
 
    	
 
    
	
Total SBI
    	
 
    	
 
    	
 
    	
2500.00
    	
 
    	
2500.00
    	
 
    	
5000.00
    	
 
    
	
Bank of   India
    	
 
    	
1.   EPC/PCFC
    	
 
    	
7000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.   FBP/FCBP
    	
 
    	
(7000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.   Cash Credit
    	
 
    	
(7000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
TOTAL   1 + 2+3
    	
 
    	
7000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
LC(I/F-DP/DA)
    	
 
    	
 
    	
 
    	
3000.00
    	
 
    	
 
    	
 
    
	
 
    	
BG(I/F)
    	
 
    	
 
    	
 
    	
(3000.00
    	
)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total Bank of India
    	
 
    	
MAXIMUM   TOTAL LIMIT PERMITTED
    	
 
    	
7000.00
    	
 
    	
3000.00
    	
 
    	
10000.00
    	
 
    
	
ICICI Bank
    	
 
    	
STL
    	
 
    	
6000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SUB-LIMIT-CC
    	
 
    	
(6000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SUB-LIMIT-PCFC/PSCFC/EPC
    	
 
    	
(6000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SUB-LIMIT-FUBD/FBP
    	
 
    	
(6000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
LC/BG
    	
 
    	
 
    	
 
    	
2000.00
    	
 
    	
 
    	
 
    
	
Total ICICI Bank
    	
 
    	
 
    	
 
    	
6000.00
    	
 
    	
2000.00
    	
 
    	
8000.00
    	
 
    
	
Oriental Bank of Commerce
    	
 
    	
PC/PCFC/FDBP/FUDBP
    	
 
    	
7500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
SUB   LIMIT - CC
    	
 
    	
(2000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Standby   Limit:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
PC/PCFC/FDBP/FUDBP
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
LC   (Import/Inland)/BG
    	
 
    	
 
    	
 
    	
4100.00
    	
 
    	
 
    	
 
    
	
Total OBC
    	
 
    	
 
    	
 
    	
9000.00
    	
 
    	
4100.00
    	
 
    	
13100.00
    	
 
    
	
Bank of   Baroda
    	
 
    	
CC
    	
 
    	
1000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
PC/PCFC
    	
 
    	
5000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Sub   Limit - PSDL
    	
 
    	
(1500.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
FBP/FBD
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
FLC/ILC/BG
    	
 
    	
 
    	
 
    	
2900.00
    	
 
    	
 
    	
 
    
	
Total BOB
    	
 
    	
 
    	
 
    	
7500.00
    	
 
    	
2900.00
    	
 
    	
10400.00
    	
 
    
	
Vijaya Bank
    	
 
    	
PCL/PCFC/FCBD/FDBP/FUDBP
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Sub   limit -CC
    	
 
    	
(1500.00
    	
)
    	
—
    	
 
    	
 
    	
 
    
	
Total Vijaya Bank
    	
 
    	
 
    	
 
    	
1500.00
    	
 
    	
 
    	
 
    	
1500.00
    	
 
    

 

10

 

	
State Bank of Hyderabad
    	
 
    	
CC
    	
 
    	
1200.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Sub-limit-EPC/PCFC
    	
 
    	
(1200.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SUB-LIMIT-FDBP/FUBD
    	
 
    	
(1200.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
L/C/BG
    	
 
    	
 
    	
 
    	
1000.00
    	
 
    	
 
    	
 
    
	
TOTAL SBH
    	
 
    	
 
    	
 
    	
1200.00
    	
 
    	
1000.00
    	
 
    	
2200.00
    	
 
    
	
Yes Bank Ltd.
    	
 
    	
PC/PCFC/PSFC
    	
 
    	
4000.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SUB   LIMIT - CC/WCDL
    	
 
    	
(2000.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
TOTAL YES BANK
    	
 
    	
 
    	
 
    	
4000.00
    	
 
    	
—
    	
 
    	
4000.00
    	
 
    
	
Indian overseas Bank
    	
 
    	
CC
    	
 
    	
2500.00
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
PC/PCFC
    	
 
    	
(1800.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
FDDBP/FDUBD
    	
 
    	
(1800.00
    	
)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
LC/BG
    	
 
    	
 
    	
 
    	
3000.00
    	
 
    	
 
    	
 
    
	
TOTAL IOB
    	
 
    	
 
    	
 
    	
2500.00
    	
 
    	
3000.00
    	
 
    	
5500.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
TOTAL LIMIT
    	
 
    	
 
    	
 
    	
58300.00
    	
 
    	
19500.00
    	
 
    	
77800.00
    	
 
    

 

(  ) INDICATES SUB-LIMIT

(The above list is only illustrative and not exhaustive)

 

THE SECOND SCHEDULE ABOVE REFERRED TO
 Particulars of interest & commission

 

THE SECOND SCHEDULE ABOVE REFERRED TO

 

(See Art 1 Para 10)

 

PARTICULARS OF INTEREST & COMMISSION

 

	
Nature of Facility
    	
 
    	
Rate of Interest and Commission
    
	
1. Pre-shipment and post shipment   credit facilites
    	
 
    	
As per terms of sanction of each bank, guidelines issued by   respective Banks from time to time
    
	
 
    	
 
    
	
2. Cash Credit Limit
    	
 
    
	
 
    	
 
    
	
3. Import / Inland Letter of   Credits / Inland Revolving Letter of Credit Limit
    	
 
    
	
 
    	
 
    
	
4. Forward Sale Contract
    	
 
    
	
 
    	
 
    
	
5. SERVICE CHARGES
    	
 
    

 

Plus Service tax and other applicable tax as applicable from time to time.

 

11

 

Details of sanction Letters of Canara Bank Consortium:

 

	
Bank Name
    	
 
    	
Santion Letter No.
    	
 
    	
Sanction Letter
   Dated
    
	
Canara   Bank
    	
 
    	
DEL:   PCB-II: CR-AMIRA:S-40: 2011
    	
 
    	
31.10.2011
    
	
State   Bank of India
    	
 
    	
SBI/OBND/RM3/2011-12/260
    	
 
    	
15.02.2012
    
	
Oriental   Bank of Commerce
    	
 
    	
Nil
    	
 
    	
13.06.2012
    
	
Bank   of India
    	
 
    	
NDLCB/2011-12/AY/2431
    	
 
    	
09.03.2012
    
	
Bank   of Baroda
    	
 
    	
CFS/ND/14/2054
    	
 
    	
03.10.2011
    
	
ICICI   Bank
    	
 
    	
12/W31DEL/40088
    	
 
    	
12.01.2012
    
	
State   Bank of Hyderabad
    	
 
    	
F/ADV/AMIRA/275
    	
 
    	
24.05.2012
    
	
Vijaya   Bank
    	
 
    	
BKR/CREDIT/AMIRA/2011-12/
    	
 
    	
24.08.2011
    
	
Yes   Bank Ltd.
    	
 
    	
YBL/DEL/FL/411/2009-10
    	
 
    	
03.08.2009
    
	
Indian   Overseas Bank
    	
 
    	
Adv/1205/                    /2011-12
    	
 
    	
13.02.2012
    

 

The consortium members reserve the right to amend, alter, and modify the rate of interest and other charges with / without previous notice.

 

	
 
    	
 
    	
For   Amira Pure Foods Private Limited 
    
	
 
    	
 
    	
 
    
	
Signed   and delivered By M/s Amira Pure Foods Pvt. Ltd. Pursuant to the Resolution of   its Board of Directors passed on 14.06.2012 by the hand of Ms. Anita   Daing, Director of the company
    	
 
    	
 
    
	
 
    	
/s/   Anita Daing, Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
The   Common Seal of the within named Amira Pure Foods Pvt. Ltd. pursuant to the   authority granted by the Resolution of the Board of Directors passed on the   14th day of June 2012, hereunto affixed in   the presence of Shri Karan A Chanana, Chairman and Ms. Namita Bhatnagar,   Company secretary of the company/Authorized Officials by the Board in that   behalf who have signed these presents in token thereof.
    	
 
    	
/s/   Karan A Chanana 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Namita Bhatnagar
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SIGNED   AND DELIVERED for and on behalf of Canara Bank for itself and for and on behalf   of State Bank of India, Oriental Bank Commerce, Bank of India, Bank of   Baroda, ICICI Bank Ltd., State Bank of Hyderabad, Vijaya Bank, Yes Bank   and Indian Overseas Bank as their Constituted Attorney by the hand of Shri A. K. Jindal, its Authorised Official.
    	
 
    	
For   Canara Bank 
    
	
 
    	
 
    
	
 
    	
/s/   Shri A. K. Jindal 
    
	
 
    	
 
    
	
 
    	
Chief   Manager 
    
	
 
    	
Prime   Corporate Branch-II, New Delhi-110001
    
	
 
    	
 
    

 

12Exhibit 10.12

 

 

DEED OF GUARANTEE

 

THIS DEED OF GUARANTEE made the 15th day of JUNE, 2012  By Ms. Anita Daing D/O Late Sh. Karam Chand Chanana, Age 58 Years R/O R — 806, New Rajender Nagar, New Delhi (hereinafter referred to as “the Guarantor” which expression shall unless repugnant to the context or meaning thereof be deemed to include in the case of individuals their respective heirs, executors, administrators and legal representatives and in the case of the company, its successors and assigns) in favour of Canara Bank, Prime Corporate Branch-II, 2nd Floor, World Trade Tower, Barakhaniba Lane, New Delhi - 110001 Branch being the Lead Bank of “Carrara Bank Consortium” as defined in the First Supplemental Working Capital Consortium Agreement dated 15.06.2012 (hereinafter referred to as “Lead Bank” which expression shall unless repugnant to the context or meaning thereof be deemed to Include the Canara Bank and other consortium member Banks viz. State Bank of India, Oriental bank of Commerce, Bank of India, Bank of Baroda, ICICI Bank Ltd., Vijaya Bank, Yes Bank Ltd., State Bank of Hyderabad and Indian Overseas Bank constituting the “Carrara Bank Consortium” from time to time or each of them or any one or more of them and their respective successors and assigns).

 

WHEREAS in a certain Supplemental  Working Capital Consortium Agreement dated 15.00.2012 and First Supplemental Joint Deed of Hypothecation dated 15.06.2012 executed by M/S. AMIRA PURE FOODS PVT. LTD., company within the meaning of the Companies Act of 1956 and having its Registered Office at B-1/E-28, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi 11004,1 and Corporate Office at 54, Prakriti Marg, NI. G. Road, New Delhi 110030 (hereinafter referred to as “the Borrower” which expression shall unless repugnant to the context or meaning thereof be deemed to include its successors and permitted assigns) with the Lead Bank of the Other part on the 15.06.2012 executed between the Borrower

 

 

and the Lead Bank (hereinafter the said Working Capital Consortium Agreement, Joint Deed of Hypothecation collectively referred to as “the said Agreement of Loan”) the Lead Bank has agreed to grant / granted to the Borrower all or some or any of the credit facilities either in Indian or foreign currencies by way of overdrafts, Cash credits, term loans, pre-shipment and post-shipment credits, opening of letters of credit, issuing of guarantees Including deferred payment guarantees and indemnities negotiations and discounting of demand and / or issuance bills and cheques inland as well as foreign and such other facilities as may be and cheques inland as well as foreign and such other facilities as may be agreed upon from time to time between the Bank and the Borrower (hereinafter called the “above mentioned credit facilities”) for sums not exceeding the sum of Rs.778,00,00,000.00 (Rupees Seven Hundred seventy eight Crores Only) (hereinafter for the sake of brevity referred to as “the Principal sum”) on the terms and conditions specified and contained therein.

 

AND WHEREAS one of the conditions specified and contained in the said Agreement of Loan or that the Borrower shall procure and furnish to the Lead Bank- a guarantee guaranteeing due payment by the Borrower of the said principal sum not exceeding Rs.778,00,00,000.00 (Rupees Seven Hundred seventy eight Crores Only) together with interest costs charges expenses and / or other money due to the Lead Bank in respect of or under the above mentioned credit facilities or any of them on demand by the Lead Bank.

 

AND WHEREAS the Guarantor have at the request of the Borrower and in consideration of the Lead Bank having agreed to grant or granted at the request of the Guarantor the above mentioned credit facilities to the Borrower, have agreed to execute this Guarantee in favor of the Lead Bank on the terms and in the manner hereinafter appearing.

 

NOW THE INDENTURE WITNESSETH that in consideration of the above premises It is hereby covenanted and agreed the Guarantor covenanting and agreeing jointly and severally as follows:

 

1.                                       If at any time default shall be made by the Borrower in payment of the principal sum not exceeding Rs.778,00,00,000,00 (Rupees Seven Hundred seventy eight Crores Only) together with interest, costs, charges, expenses and / or other money for the time being due to the Lead Bank in respect of or under the above mentioned credit facilities or any of them the Guarantor shall forthwith on demand pay to the Lead Bank the whole of such principal sum not exceeding Rs.778,00,00,000.00 (Rupees Seven Hundred seventy eight Crores Only) together with interest, costs, charges, expenses and / or other money for the time being due to the Lead Bank in respect of or under the above mentioned credit facilities and shall indemnify and keep indemnified the Lead Bank against all losses of the said principal sum, interest or other money due and all costs, charges and expenses whatsoever which the Lead Bank may incur by reason of any default on the part of the Borrower.

 

2.                                       The Guarantor agree and confirm that the interest shall be charged on the outstandings in the account (s) opened in respect of the above mentioned credit facilities at such rate(s) as may be determined by the Lead Bank from time to lime. Interest shall be calculated respectively on the daily balance of such account(s) and be debited thereto on the last working day of the month or quarter according to the practice of the Lead Bank. The Lead Bank shall also be entitled to charge at its own discretion such enhanced rates of interest on the account (s) either

 

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on the entire outstandings or on a portion thereof as it may fix for any irregularity and for such period as the irregularity continues or for such time as the Lead Bank deems it necessary regard being had to the nature of the irregularity and the charging of such enhanced rate of interest shall be without prejudice to the Lead Bank’s other rights and remedies.

 

3.                                       The Lead Bank shall have the fullest liberty without affecting this Guarantee to vary the amounts of the individual limits of the above mentioned credit facilities as may be agreed upon form time to time between the Lead Bank and the Borrower subject to the aggregate thereof not exceeding the principal sum and/or to postpone for any time or from time to tine enforce or forbear to enforce any remedies or securities available to the Lead Batik AND the Guarantor shall not be released by any exercise by the Lead Bank of its liberty with reference to the matters aforesaid or any of them or by reason of time being given to the Borrower or of any other forbearance act or omission on the part of the Lead Bank or any other indulgence by the Lead Bank to the Borrower or by any other matters or things whatsoever which under the law relating to sureties would but for this provision have the effect of so releasing the Guarantor.

 

4.                                       As the above mentioned credit facilities have been further secured by hypothecation and / or pledge of the Borrower’s movable properties and / or mortgage of the Borrower’s immovable properties under separate security documents executed by the Borrower with the Lead Bank which security documents would contain stipulation as to insurance assignment and delivery of Insurance Policies to the Lead Bank, the margin or value of properties to be maintained and the periodical furnishing of different statements to the Lead Bank and other matters the Guarantor agree that no failure in requiring or obtaining such security or in the observance or performance of any of the stipulation or terms of the said security documents and no default of the Lead Bank in requiring or enforcing the observance or performance of any of the said stipulations or terms shall have the effect of releasing or discharging or in any manner affecting the liability of the Guarantor under these presents.

 

5.                                       The Lead Bank shall be at liberty to take in addition to the subsisting securities any other securities for the above mentioned credit facilities or any of them or any part thereof and to release or forbear to enforce all or any of the remedies upon or under such securities and any collateral security or securities now held by the Lead Bank and that no such release or forbearance as aforesaid shall have the effect of releasing or discharging or in any manner affecting the liability of tile Guarantor or of prejudicing the Lead Bank’s rights and remedies against the Guarantor under this Guarantee and that the Guarantor shall have no right to the benefit of the said security and / or any other security that may be held by the Lead Bank until the claims of the Lead Bank against the Borrower in respect of the above mentioned facilities and of all (if any) other claims of the Lead Bank against the Borrower on any other account whatsoever shall have been fully satisfied and then in so far only as such security shall not have been exhausted for the purpose of realising the amount of the Lead Bank’s claims and rateably only with other Guarantor or other persons (if any) entitled to the benefit of such securities respectively.

 

6.                                       The Guarantee herein contained shall be enforceable against the Guarantor notwithstanding the securities aforesaid or any of them or any other collateral securities that the Lead Bank may have obtained or may obtain from the Borrower or any other person shall at the

 

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time when proceedings are taken against the Guarantor hereunder be outstanding and/or not enforced and / or remain unrealised.

 

7.                                       In order to give effect to the Guarantee herein contained the Lead Bank shall be entitled to act as if the Guarantor were principal debtors to the Lead Bank for all payments guaranteed by them as aforesaid to the Lead Bank.

 

8.                                       The Guarantee herein contained is a continuing one for all amounts advanced by the Lead Bank to the Borrower in respect of or under the above mentioned credit facilities as also for all interest, cost and oilier money which may from time to time become due and remain unpaid to the Lead Bank thereunder and shall not be determined or in arty way be affected by any account or accounts opened or to be opened by the Lead Bank becoming NIL or coming into credit at any tune or from time to time or by reason of the said account or accounts being dosed and fresh account or accounts being opened in respect of fresh facilities being granted within the overall limit sanctioned to the Borrower.

 

9.                                       Notwithstanding the Lead Bank’s rights under any security which the Lead Bank may have obtained or may obtain the Bank shall have fullest liberty to call upon the Guarantor to pay the principal sum riot exceeding Rs.778,00,00,000.00 (Rupees Seven Hundred severity eight Crores Only) together with interest as well as the costs, (as between Advocate and client) charges and expenses, and / or other money for the time being due to the Lead Bank in respect of or under the above mentioned credit facilities or any of them without requiring the Lead Bank to realise from the Borrower the amount. due to the Lead Bank in respect of the above mentioned credit facilities and / or requiring the Lead Bank to enforce any remedies or securities available to the Lead Bank.

 

10.                                 The Guarantor herein contained shall not be determined or in any way prejudiced by any absorption of or by Lead Bank or by any amalgamation thereof or therewith but shall ensure and be available for and by the absorbing or amalgamated Lead Bank or concern.

 

11.                                 The Guarantee shall be irrevocable and enforceable against the Guarantor notwithstanding any dispute between the Lead Bank and the Borrower.

 

12.                                 The Guarantor affirm, confirm and declare that any balance confirmation and / or acknowledgement of debt and / or admission of liability given or promise or part payment made by the Borrower or the authorised agent of the Borrower to the Lead Bank shall be deemed to have been made and / or given by or on behalf of the Guarantor themselves and shall be binding upon each of them.

 

13.                                 The Guarantor shall forthwith on demand made by the Lead Bank deposit with the Lead Bank such sum or security or further sum or security as the Lead Bank may from time to time specify as security for the due fulfillment of their obligations under this Guarantee and any security so deposited with the Lead Bank, may be sold by the Lead Bank after giving to the Guarantor a reasonable notice of sale and the said sum or the proceeds of sale of the securities may be appropriated by the Lead Bank in or towards satisfaction of the said obligations and any liability arising out of non-fulfillment thereof by the Guarantor.

 

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14.                                 The Guarantor hereby agree that notwithstanding any variation made in the terms of the said Agreement of Loan and/or any of the said security documents inter-alia including variation in the rate of interest, extension of the date for payment of the installments, if any composition made between the lead bank and the borrower to give time to or not sue the borrower, or the lead bank parting with any of the securities given by the borrower, the Guarantor shall not be released or discharged of the obligation under this guarantee provided that in the event of any such variation or composition or agreement the liability of the Guarantor -shall notwithstanding anything herein contained be deemed to have accrued and the Guarantor shall be deemed to have become hereunder on the date or date on which the borrower shall become liable to pay the amount / amounts due under the said Agreement of loan and / or any of the said security documents as a result of such variation or composition or agreement.

 

15.                                 The Guarantor hereby agree and confirm that the lead bank shall be entitled to adjust, appropriate or set-off all moneys held by lead bank to the credit of or for the benefit of the Guarantor on any account or otherwise howsoever towards the discharge and satisfaction of the liability of the Guarantor under these presents.

 

16.                                 The Guarantor agree that notwithstanding the lead bank for any reason whatsoever losing and/or parting with any of the securities given by the borrower the Guarantor shall not be released or discharged of their obligations under this guarantee and in the event of the lead bank so losing or parting with the security the Guarantor shall be deemed to have consented to or acquiesced in the same.

 

17.                                 The Guarantor agree that If the borrower being an individual becomes an insolvent 01 being a company enters into liquidation or winding up (whether compulsory or voluntary) or it the management of the undertaking of the borrower is taken over uncle’ any law or if the borrower and or the undertaking of the Borrower is nationalised under any law or make any arrangement or composition with creditors the Lead Bank may (notwithstanding payment to the Lead Bank by the Guarantor or any other person of the whole or any part of the amount hereby secured) rank as creditor and prove against the estate of the Borrower for the full amount of the Lead Bank’s claims against the Borrower or agree to and accept any composition in respect thereof and the Lead Bank may receive and retain the whole of the dividends, composition or other payments thereon to the exclusion of all the rights of the Guarantor in competition with the Lead Bank until all the Lead Bank’s claims are fully satisfied and the Guarantor will not by paying off the amounts payable by them or any part thereof or otherwise prove or claim against the estate of the Borrower until the whole of the Lead Bank’s claims against, the Borrower have been satisfied and the Bank may enforce and recover payment from the Guarantor of the full amount payable by the Guarantor notwithstanding any such proof or composition as aforesaid.  On the happening of any of the aforesaid events, the Guarantor shall forthwith inform the Lead Bank in writing of the same.

 

18.                                 The Guarantee hereby given is independent and distinct from any security that the Lead Bank has taken or may take in any manner whatsoever whether it be by way of hypothecation, pledge and/or mortgage and/or any other charge over goods, movables or other assets and/or any other property, movable or immovable, and that the Guarantor have not given this guarantee upon any understanding, faith or belief that the Lead Bank has taken and/or may hereafter take any or other such security and that notwithstanding the provisions of Sections

 

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130,133,134,135,139,140 and 141 of the Indian Contract Act, 1872 or other section of that Act or any other Law, the Guarantor will not claim to be discharged to any extent because of the Lead Bank’s failure to take any or other such security or in requiring or obtaining any or other such security or losing for any reason whatsoever including reasons attributable to its default and negligence benefit of any or other such security or any of rights to any or other such security that have been or ‘could have been taken.

 

19.                                 The Guarantor agree that any admission or acknowledgement in writing signed by the Borrower of the liability or indebtedness of the Borrower or otherwise in relation to the above mentioned credit facilities and or any part payment as may be made by the Borrower towards the Principal sum hereby guaranteed or any judgment, award or order obtained by the Lead Bank against the Borrower shall be binding on the Guarantor and the Guarantor accept the correctness of any statement of account that may be served on the Borrower which is duly certified by any officer or the Lead Bank and the same shall be binding and conclusive as against the Guarantor also and the Guarantor further agree that in the Borrower making an acknowledgement or making a payment, the Borrower shall in addition to his personal capacity he deemed to act as the Guarantor’ duly authorised agent in that behalf for the purposes of Sections 18 and 19 of the Limitation Act of 1963.

 

20.                                 The Guarantor agree that the loans hereby guaranteed shall be  payable to the Lead Bank and the Lead Bank serving the Guarantor with a notice requiring payment of the amount and such notice shall be deemed to have been served on the Guarantor either by actual delivery thereof to the Guarantor or by dispatch thereof by Registered Post or Certificate of Posting to the Guarantor address herein given or any other address in India to which, the Guarantor may be written intimation given to the Lead Bank request the communication addressed to the Guarantor be dispatched. Any notice dispatched by the Lead Bank by Registered Post or Certificate of Posting to the address to which it is required to be dispatched under this clause shall be deemed to have been duly served on the Guarantor four days after the date of posting thereof, and shall be sufficient if signed by any officer of the Lead Bank and in proving such service it shall be sufficient if it is established that the envelope containing such notice, communication or demand was properly addressed and put into the post.

 

21.                                 It is expressly agree and the Guarantor hereby confirms that the Guarantor is jointly and severally liable to the Canara Bank Consortium as mentioned in Working Capital Agreement. If the Consortium of Banks is increased or diminished from time to time by adding or dropping of one of more Banks or is changed by substitution of one Bank by another during the currency of this Agreement, then the reconstituted Consortium will be governed by the provisions of this agreement as if they have been added or dropped herein as the case may be and the terms the Lead Bank” shall mean and shall be deemed to include the Reconstituted Constitution as well, with or without consent of Guarantor.

 

22.                                 The Guarantor hereby agree as a pre-condition for granting assistance to the borrower by the Lead Bank that, in case the borrower and guarantor commit default in repayment of the loan / advances or in the repayment of interest thereon or any of the agreed installment of the loan on the due date / s, the Bank/, and / or the Reserve Bank of India will have an unqualified right to disclose or publish his / her / their name or the name of the Company /firm / unit and its directors / partners / proprietors along with the photographs of borrowers and

 

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Guarantor in such manner and through such medium as the lead Bank or Reserve Bank of India in their absolute discretion, may think fit.

 

23.                                 We understand that a pre-Condition, relating to grant of the loans/advances/other non-fund based credit facilities to M/s. Armira Pure Foods Pvt. Ltd. and furnishing of guarantee in relation thereto, Lead Bank receives consent of the guarantor/s of the credit facility, granted/to be granted to the Lead Bank for disclosure of information and data relating to the guarantor/s, any credit facility availed of by the guarantor/s, obligation as assumed by the guarantor/s, in relation thereto and default, if any, committed in discharge thereof

 

Accordingly, the Guarantor, hereby agree and given consent: for the disclosure by the LEAD BANK of all or any such; information and data relation to Guarantor; the information or data relating to any credit facility availed of/ to be availed by Guarantor, and default, if any, committed by borrowers, in discharge of such obligation, as the said bank may deem appropriate and necessary, to disclose and furnish to Credit information Bureau (India) Ltd. and any other agency authorized in this behalf by RBI.

 

Guarantor, declare that the information and data furnished by Guarantor to the LEAD BANK are true and correct.

 

Guarantor, undertake that:

 

The Credit Information Bureau (India) Ltd. and any other agency so authorized may use, process the said information and data disclosed by the LEAD BANK in the manner as deemed fit by them; and the Credit Information Bureau (India) Ltd. and any other agency so authorized may furnish for consideration, the processed information and data or products thereof prepared by them, to the said bank and other credit grantors or registered users, as may be specified by the Reserve Bank in this behalf. Further, I/we hereby confirm that I/we shall not raise any dispute in what so ever manner regarding information/details furnished/to be furnished to CIBIL/other authorities and same is binding on me/us.

 

IN WITNESS WHEREOF the GUARANTOR (above mentioned) have executed these presents on this 15th day of JUNE 2012.

 

Signed; sealed and Delivered

 

	
/s/   Anita Diang
    	
 
    
	
Anita   Daing
    	
 
    
	
Guarantor
    	
 
    

 

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