Document:

EX-10.9

Exhibit 10.9

	 	 	 	 	 
	TYPE OF DEED
	 	:
	 	LEASE DEED
	VILLAGE/CITY NAME
	 	:
	 	PLOT NO.103, UDYOG VIHAR PHASE-I,

GURGAON HARYANA
	AREA LEASED
	 	:
	 	37,614 SQ. FT.
	TYPE OF PROPERTY
	 	:
	 	INDUSTRIAL
	RENT
	 	:
	 	Rs.18,87,600/- PER MONTH
	STAMP DUTY
	 	:
	 	Rs.786,700/-
	STAMP NO
	 	:
	 	1536
	DATE OF ISSUE
	 	:
	 	15-10-2007
	ISSUED BY
	 	:
	 	TREASURY, GURGAON

THIS
Lease Deed is executed on this day of 25-10-, 2007

M/s PR Gartex Private Limited, a Private Limited Company, duly incorporated under the Companies
Act, 1956, having its registered office at A-6 Bhagwan Das Nagar, New
Delhi-110026, through their
representative Mr. Dinesh Kalucha S/o Shri Tilak Raj Kalucha R/o A-6 Bhagwan Das Nagar, New Delhi
110026,

 

 

(who has been duly authorised to execute this Lease Deed vide board resolution dated
05.02.2007 (Copy annexed herewith as Annexure-l), and shall be called as “THE LESSOR”.

AND

M/s MakeMyTrip (India) Private Limited, a Private Limited Company, duly incorporated under the
Companies Act, 1956, having its Registered Office at 81/1, Adchini, Sri Aurbindo Marg, New Delhi
100016, through its Authorised Representative Mr. Deep Kalra S/o Shri Krishan Sarup Kalra, R/o
J-6/11A, DLF Phase II, Gurgaon, (who has been duly authorised to execute this Lease Deed vide
board resolution dated 24.07.2006 (Copy annexed herewith as Annexure-II), hereinafter referred to
as the ‘THE LESSEE’ of the Other Part (which expression shall unless be repugnant to the context
or meaning hereof be deemed to include its successors only).

WHEREAS the LESSOR confirms and warrants that the LESSOR is the true and legal owner of the
property and has clear and unencumbered title and is in possession of Industrial Premises on a
plot of land measuring 2,100 Sq. Meters, situated at Plot No. 103, Udyog Vihar Phase-l, Gurgaon,
Haryana, (hereinafter referred to as the “Site”) and having constructed 37,614 Sq. Ft of Total
Super Built up area (hereinafter collectively referred to as the “Building” or “Demised Premises”)
as per occupancy certificate attached herewith as Annexure-III.

AND WHEREAS the LESSEE is engaged in the business of ITES (BPO/Call Centre Services) activities in
the travel domain and is desirous of taking the Demised Premises on lease. AND WHEREAS in its
capacity as the legal owner, LESSOR has agreed to give the Demised Premises as defined herein
above on lease to the LESSEE.

AND WHEREAS the LESSOR and the LESSEE agree to record the terms of the lease under this document.
AND WHEREAS the LESSOR represents and warrants that as the legal owner, pursuant to the permission
of HSIIDC vide letter no. 2930 dated 7th August 2007 for renting of the “Demised
Premises” to the LESSEE for building to be used for BPO/ITES/Call Centre Services operation(s), it
is fully entitled to execute this Lease Deed.

In consideration of the rent reserved hereunder and the covenants and conditions to be observed
and performed by the LESSEE, the LESSOR hereby grants lease of the Demised Premises clearly
delineated in Clause 1 written hereunder unto the LESSEE on the following terms and conditions:

1. DEMISED PREMISES

	a.	 	The LESSOR has agreed to lease portion including terrace of the Building comprising of super
built up area of 37,614 Sq. Ft. as per ANNEXURE “III”] which is constructed on the Site. The
area to be leased is more particularly defined in ANNEXURE ‘III’ comprising of following
annexed to this Lease Deed.

 

 

	 	 	Permanent Structure -

	 	i.	 	Basement of 9408 sq.ft. (Super built up area.)
	 
	 	ii.	 	Ground floor of 9572 sq.ft. (Super built up area.)
	 
	 	iii.	 	First Floor of 9372 sq.ft. (Super built up area)
	 
	 	iv.	 	Second Floor of 9109 sq.ft. (Super built up area)
	 
	 	v.	 	Third Floor of 153 sq.ft. (including Mumty and Machine Room)

	b.	 	In addition, Lessor has provided/agreed to provide  the following:-

	 	i.	 	Landscaping of the plot including car parking area and water fountain as is where
is basis.
	 
	 	ii.	 	The total sanctioned load maximum of 500 KVA subject to DHVBN guidelines for the
project.
	 
	 	iii.	 	One passenger lift in working condition
	 
	 	iv.	 	Plumbing lines and Sewerage lines on as is where is basis.

2. BASE RENT

The rent payable by the LESSEE for the building is a total sum of Rs 18,87,600 (Rupees Eighteen
Lacs Eighty Seven Thousand and Six Hundred Only) per month (hereinafter referred to as the “Base
Rent”),

The Rent shall be payable monthly in advance on or before 5th day of each and every English
calendar month and all payments made by the LESSEE under this Lease Deed shall be made by an
account payee cheque in favour of the LESSOR and shall be subject to deduction of tax at source,
where required under the Income-tax Act, 1961.
The Lessee shall deliver the tax deduction certificate to the Lessor as per the provisions of the Income Tax
Act, 1961.

The Rent, accrual and payment shall commence from 15th June, 2007.

3. SECURITY DEPOSIT

	3.1.	 	That the LESSEE, as security for its obligations under this Lease Deed has already paid a
sum of Rs. 1,07,13,600/- (Rupees One Crore Seven Lacs Thirteen Thousand Six Hundred Only) as and by way of interest- free refundable
security deposit and shall keep the same deposited with the LESSOR, so long as this Lease
Deed is in force and effect.
	 
	3.2.	 	That the security deposit shall be refunded by the LESSOR to the LESSEE after deduction of
any arrears/dues towards any non-payment of bills or any other charges payable by the LESSEE
in respect of the Demised Premises

 

 

	 	 	under the Lease Deed and its renewed term, if any, on the
handover of the physical vacant possession by the Lessee to the Lessor.
	 
	3.3	 	That the Permission to Lease Charges paid to HSIDC by the LESSOR in favor of LESSEE shall
be proportionately adjusted from the security deposit in case the LESSEE terminates the
lease before the expiry of LOCK in PERIOD.

4. LEASE TERM

The Lease for the Demised Premises shall for a total period of 9 (nine) years and
shall commence from the 7th day of March, 2007 (“Lease Commencement Date”).

There shall be a lock-in-period during the first 36 months (starting 15th June’2007 onwards) of
the Lease Term (hereinafter referred to as “Lock-in-Period”) during which the LESSEE can not
terminate this Lease Deed, or else would be liable to pay rent for the entire unexpired term of
lock in period.

5. RENT ESCALATION

The Base Rent will be increased by 15% (fifteen) at the end of the first thirty six (36) months
and shall further be enhanced by 15% (fifteen) at the end of the seventy two (72) months of the
Lease Term. The increase shall be on the basis of the last rent paid.

6. TERMINATION OF LEASE

6.1. Termination by the LESSEE:

	a.	 	The LESSEE may terminate this Lease Deed by giving a 3 months written notice to the LESSOR
after the expiry of first 36 months of this Lease Deed i.e 15th June, 2007. In the
eventuality of the LESSEE terminating the Lease Deed prior to the completion of the Lock in
Period i.e. till 14th June, 2009 (inclusive of the 3 months notice period), then
the LESSEE will continue to pay the monthly rent till the expiry of the Lock in period. In no
event shall the LESSEE be liable to pay rent beyond the Lock in Period in the event of an
early termination. The LESSEE shall be liable to pay rent beyond the lock in period if LESSEE
is not able to handover the physical vacant possession of DEMISED PREMISES after the expiry
of thirty six months as per the terms of this deed.
	 
	b.	 	The Lessee shall also have the option to terminate the Lease, in the event there occurs a
Force Majeure event in which case the provisions of clause 20 shall apply. If the Force
Majeure situation(s) continues beyond 15 days, the Lessee shall have option either to
terminate this Lease by providing a 30 (thirty) days notice in writing to the Lessor, or,
continue to pay the full rent to the Lessor. In case of happening of Force Majeure Event,
lock-in-period shall not apply.
	 
	c.	 	In case of a material breach of any terms of this Lease Deed by the Lessor, the Lessee shall
give a notice to the Lessor of such material breach and if

 

 

	 	 	such material breach is not
rectified by the Lessor within 15 days of serving the notice, the Lessee shall have an option
to terminate this Lease Deed by giving 7 days notice to the Lessor in writing. In case Lessee
terminates the Lease Deed under clause 6.1 (c), the Lock-in-Period shall not apply and no rent
shall be payable for the unexpired period of Lock-in-Period.

6.2. Termination by the LESSOR:

The LESSOR shall have the right to terminate this Lease Deed, in the event that:

	a.	 	The LESSEE commits a material breach, (except force majeure), of the terms and conditions,
its representations, warranties and obligations under this Lease Deed and fails to remedy the
material breach within 7 (seven) working days after serving by the Lessor of written notice in
respect thereof; or
	 
	b.	 	In case the LESSEE fails to pay rent as per the terms of this Lease Deed for two consecutive
months, the LESSOR shall have the option to terminate this Lease Deed forthwith and the LESSEE
shall hand over vacant physical possession of the Demised Premises within 15 days thereof.
However, the LESSEE should be given an opportunity to rectify the first breach within 7
working days of receiving due written notice from LESSOR to that effect; or

	c.	 	In case the Lessee without the prior written permission of the Lessor, sub-lets,
assigns, transfers or parts with the possession of the Demised Premises or any part thereof
to any other party; or
	 
	d.	 	Lessee has been declared to be insolvent or bankrupt in an insolvency or bankruptcy
proceedings by a court of competent jurisdiction in India or it goes into liquidation or
enters into a composition with its creditors or ceases to carry on a substantial part of its
business except for the purposes of and followed by a reconstruction, amalgamation,
reorganisation, merger or consolidation required or approved by law; or

Upon the occurrence of any of the events set out in clause 6.2 (a), the Lessor shall provide a 30
(thirty) day written notice to the LESSEE and this Lease Deed shall terminate upon the expiry of
such notice period, provided however such breach remains un-cured/un-rectified upon
expiry of said notice period.

Upon the occurrence of the event set out in clause 6.2 (c) & 6.2 (d) the Lease shall automatically
be terminated.

6.3. Consequences of termination

	a.	 	In case of termination under clause 6.1 (a), the Lessee shall continue paying the Lessor the
monthly lease rents and all other sums due and payable under the Lease Deed till the expiry of
the notice period or the Lock-in-Period pay lumpsum rent in lieu of the notice period or
Lock-in-Period. In the event

 

 

	 	 	the Lessee fails to pay the amount as aforesaid, the Lessor shall
have the right to appropriate the security deposits towards such lease rents due. Further any
amount that remains outstanding on account of outstanding lease rents or any other account
after such appropriation/adjustment of the security deposit shall be paid forthwith by the
Lessee to the Lessor before/upon the Lessee vacating the Demised Premises. In the event there
is any residual security deposit after all such deductions, the Lessor shall refund the
residual security deposit to the Lessee without any interest simultaneously upon the Lessee
surrendering the peaceful, vacant and actual physical possession of the Demised Premises,
subject to the deduction of any amount(s) due and payable by the Lessee to the Lessor under
the terms of the Lease and for damages for which Lessee is liable under the Lease.
	 
	b.	 	In case of termination under clause 6.1 (b), 6.1 (c), clause 6.2 (a), clause 6.2 (b) and
clause 6.2 (d), the Lessor shall refund the security deposit to the Lessee without any
interest, upon expiry of the notice period hereof simultaneously upon the Lessee surrendering
the peaceful, vacant and actual physical possession of the Demised Premises, subject to the
deduction of any amount(s) due and payable by the Lessee to the Lessor under the terms of the
Lease and for damages for which Lessee is liable under the Lease.
	 
	c.	 	In the event that the Lessee continues to occupy the Demised Premises even after the expiry
of the notice period or termination of the Lease Deed or the lease, the Lessee shall for all
purposes be deemed to be an unauthorised and illegal occupant and the Lessee agrees that
Lessor shall be well within its right to re- enter the Demised Premises and take possession
thereof. This would be without prejudice to the rights available to the Lessor. Further,
without prejudice, the Lessee shall also be liable to pay penal interest (penalty) @
Rs.1,00,000/- Per Day in addition to the Rent herein reserved to the Lessor for the delayed
period.
	 
	d.	 	In the event that the Lessor fails to refund the security deposit under clause 6.3 (b) on
the expiry of the notice period, the Lessee shall be entitled to retain the possession of the
premises as its legal right without payment or accrual of any rent to the Lessor. In this
case the Lessor shall be liable to pay penal interest (penalty) @ 18% p.a on security deposit
after making adjustments as in para 6.3a for the delayed period to the Lessee.

7. THE LESSEE HEREBY AGREES WITH THE LESSOR;

	a.	 	The LESSEE shall pay the monthly rent without any formal demand by the LESSOR on or before
the 7th day of every calendar month.
	 
	b.	 	The LESSEE shall use the Demised Premises during the Lease Term, solely for carrying on its
business as per recitals of the Lease Deed.
	 

 

 

	c.	 	The LESSEE shall make timely payment for use of facilities /connections granted in the name
of the LESSOR and being used by the LESSEE like electricity, water charges, etc. and such
other municipal and/ or usage charges as may be applicable from time to time, directly to the
concerned authorities. In case of receipt of notice for non payment of the same, the LESSEE
shall be solely liable to make all outstanding payments, penalties due and payable from the
actual handover date and the LESSOR shall be at the Liberty to get the connections
/facilities disconnected /terminated if the requisite payments are not made on receipt of
notice forthwith.
	 
	d.	 	That the LESSEE shall handover, upon the termination of this Lease Deed and/or the earlier
termination thereof, the peaceful vacant possession of the Demised Premises in workable
condition after removal of movable assets owned by the Lessee.
	 
	e.	 	Upon delivery of vacant physical possession to the LESSOR
upon expiration of the Lease or otherwise, the LESSEE shall ensure that all dues relating to the Demised Premises, pertaining
to the period when the Demised Premises was in the possession of the LESSEE, in connection
with electricity, power, water, maintenance and other charges that were the liability or
responsibility of the Lessee under this Lease Deed are
paid by the Lessee, the Lessee will provide No Due Certificate, to the LESSOR at the time of
termination. In case the No Due Certificate is not provided, the Security Deposit amount
shall be adjusted against any outstanding dues subject to provisions of Clause 3.
	 
	f.	 	The Lessor will be responsible for any existing and future property tax (if any) related to
the Demised Premises under this Lease Deed. Any future incidence of tax relating to the
Demised Premises only shall be borne by the Lessor upto the amount of the tax that would have
been levied if the property was self occupied. Any differential in property tax because of
property being leased, shall be borne equally by the Lessor and Lessee.
	 
	g.	 	The Lessee shall abide by all applicable Laws and Requirements of the Government or any other
authority or local body from the date of handover of possession of the Demised Premises and
the Lessee shall always keep and hold the Lessor harmless and indemnified in this regard.
Subject as aforesaid, in the event any amount is required to be spent to comply with any Laws
and Requirements by any authority, including but not limited, to fire fighting equipment, the
same shall be borne by the Lessee. However, in case the Lessor is in breach or violation of
any applicable Laws and Requirements, then, the Lessor shall keep the Lessee harmless and
indemnified in this regard.
	 
	h.	 	That in case any criminal or civil action is instituted by any authority, court, civil body,
person etc. on account of any act, deed or things done in contravention of law by the LESSEE,
in the Demised Premises, including any action qua tampering of electricity meter, seals
affixed there upon and theft of electricity, in that event the entire civil and criminal
liability for the same shall be of the LESSEE exclusively including

 

 

	 	 	any costs or expenses in
relation thereto. In case any charges, costs fine, penalty, proceedings etc. is imposed by PF
department, Income Tax department, Customs Department, Labour Department, Service Tax
Department, STPI, Fire Authority or any authority on account of the foregoing, in that event
the LESSEE shall be liable to satisfy/pay the same. In case of failure of LESSEE to
pay/satisfy such charges, costs fine, penalty, proceedings etc., the LESSOR shall be entitled
to deduct and deposit such unpaid charges, costs fine, penalty, proceedings etc. from the
interest free security paid by the LESSEE to the LESSOR.
	 
	i.	 	That the LESSEE shall not carry on or permit to be carried on in the Demised Premises or any
part thereof any activity which is obnoxious or store any good of hazardous or combustible
nature or those which are heavy/big enough other than equipments necessary for the purpose of
aforesaid which results in alteration of the structure of the building or any part thereof.
The LESSEE shall not make any structural alterations in the Demised Premises without the prior
written consent of the LESSOR.

8. RAISING OF FINANCE BY LESSOR

That it is further clarified that the Lessor have full right to mortgage, create any charge or
otherwise transfer the demised premises in favour of any bank/ financial institution or any other
person(s) and can also go for rent capitalization without any objection by the Lessee. The Lessee
undertakes to sign and execute all documents related to the lease in favour of new landlord (s)
/bank(s) /financial institution(s) in case of sale mortgage etc. as the case may be. However, such
creation mortgage / charge of the Demised Premises shall not affect the tenancy rights of LESSEE to
use the Demised Premises during the lease period.

9. INTERIORS/IMPROVEMENTS BY LESSEE

The Lessee shall have the right to improve and complete interior work as per the Lessee’s
satisfaction and to install/erect electro-mechanical equipments, captive power systems, UPS
systems, etc. to suit its requirement. At the expiration or earlier termination of the Lease Deed,
the Lessee shall have the right to retain ownership of all interiors movable in nature and
improvements, which they have installed. It is however agreed that Lessee shall not do any
structural changes without the prior written consent of the Lessor. Further, the Lessee shall not
be entitled to any compensation for any improvements, if made, in the Demised Premises, by the
Lessee. Only those moveables installed by the lessee will be removed by the Lessee which can be
removed without any damage to the existing structure of the Demised Premises.

10. THE LESSOR HEREBY AGREES WITH THE LESSEE AS UNDER

	a.	 	The LESSOR represents that the LESSOR is the legal owner of Demised Premises and it has full
authority and power to lease the premises hereby demised unto the LESSEE and shall keep the
LESSEE indemnified against

 

 

	 	 	all such demands, claims, losses, actions, damages and proceedings
that the LESSEE may suffer due to any defect in title of the LESSOR. The LESSOR has not
entered into any similar agreement or arrangement with any person/persons for providing use
and occupation of the Demised Premises to which the LESSEE is entitled to under this Lease
Deed.
	 
	b.	 	The Lessor will issue a No Objection Certificate for Lessee to secure an STPI status and EOU
(Export Oriented Unit) status for the Leased premises after the signing the Lease Deed or as
and when required by the Lessee in near future. All liabilities, costs, expenses, charges etc. if any towards securing the above mentioned status would be a sole responsibility of the
Lessee and Lessor would not be responsible in any matter what so ever.
	 
	c.	 	The LESSOR agrees to indemnify the LESSEE and save, defend and hold the LESSEE harmless from
and in respect of any and all damages, claims, losses,
expenses, costs, obligations and liabilities resulting from or related to the non-payment of
any outgoings determined in respect of the Demised Premises for the period prior to the
commencement of this Lease Deed. If any further outstanding dues at the time or after the
signing the lease deed for the period before or after the lease commencement are to be paid,
the same shall be paid by the Lessor. In case due to any reason the Lessee has to pay the
same, the Lessor shall reimburse said amount to Lessee within seven (07) days of such payment
made by Lessee, failing which the said amount will be adjusted from the out going rent for
the subsequent month.
	 
	d.	 	The Lessor represents that the Demised Premises has been built in adherence to the building
by laws and any additional area (if any) will also be built in adherence to the applicable
building bye-laws, the Lessor shall insure supply of water through regular municipal
connection and in accordance to existing arrangements in force. Any enhancement/alterations
required to be done to the same, shall be done by LESSEE at its own cost and expense. The
Lessee shall at its own cost ensure water supply on regular basis without any disconnection.
	 
	e.	 	The Lessor (at its own cost) shall provide Lessee with a 500 KVA sanctioned/installed or as
per the project requirement under the DNVBN guidelines and energized power load from Dakshin
Haryana Bijlee Vitran Nigam Limited

	11.	 	PEACEFUL ENJOYMENT/POSSESSION/ BY LESSEE

The LESSEE paying the rent hereby reserved and observing and performing the several covenants on
its part herein contained, the LESSOR covenants that the LESSEE shall peacefully and quietly hold
and enjoy the Demised Premises during the lease period without any interruption or disturbance by
the LESSOR or any person claiming through the LESSOR.

 

 

12. TRANSFER/ASSIGNMENT OF RIGHT (LESSOR)

That if the Lessor at any time during the period of this lease or extended period thereof, as
hereinafter mentioned, sell and/or transfer its rights in the Demised Premises as a whole or in any
part or parts thereof to any person or more than one person then in such event the Lessee shall
attorn to such transferee or transferees on the same terms and conditions as are contained herein.
However the transfer if any shall be subject to this lease. Further, the Lessee shall have no objection to any such sale/transfer or any right or interest of whatsoever nature thereto. However,
it is further agreed that the LESSOR will furnish an acknowledgement of the receipt of the said
Deposit amount transferred to the purchaser and a copy of such acknowledgement shall be passed on
to the LESSEE.

13. NO RIGHT OF ASSIGNMENT/ SUBLETTING ETC. OF THE LESSEE;

The Lessee shall have no right to assign, sublet, underlet, transfer or grant license to use or
enter into any franchise or otherwise part with the possession of the Demised Premises or any part
thereof. The Lessee may however be entitled to enter into any personal agreement at its own cost,
risk and responsibility provided the responsibility for fulfilling such obligation shall lie
exclusively upon the Lessee only. The Lessee shall be responsible for the payment of any statutory
and other amounts, under such arrangement, if any and such arrangement shall not confer any right
or interest etc. in the Demised Premises upon such person(s) and shall not be binding upon the
Lessor. It is clarified that the possession of the Demised Premises shall not be parted away by the
Lessee under any circumstances.

14. ACCESS TO PREMISES BY LESSEE

Subject to all applicable laws, rules and regulations and till such time this lease is in
subsistence, the Lessor shall have no objection if the LESSEE along with its authorised agents,
guests, visitors, employees, servants make use and enjoyment of the Demised Premises along with
the facilities and utilities round the clock every working days as well as on holidays during the
lease period. The LESSOR shall have no objection to LESSEE’s working for 24 hours a day, 7 days a
week, 365 days a year, in the Demised Premises, subject to all applicable laws and subject to
clause 6.

15. ACCESS TO PREMISES BY LESSOR

The LESSEE shall permit the LESSOR or its authorised agents with or without workmen to enter the
Demised Premises or any part thereof at all reasonable times and giving a 24 hours advance notice
so it does not disrupt the business operations , for the purposes of examining the state and
condition, and if necessary, for repairing any part of the Demised Premises in order to maintain
in good condition all services, drains, pipes, cables and other conveniences belonging to or used
for the Building. The LESSOR shall give prior written intimation of 24 hours as far as practicable
of such visits to the LESSEE.

 

 

16. SIGNAGE

The LESSEE will be permitted at its expense to place signage on the building/building facade
(without disturbing the same), in the entrance lobby of the building as per the HSIDC guidelines /
permission (if required). The LESSEE shall however prior to placing such signage & logo obtain all
necessary permissions / approvals as may be required under applicable statutes for displaying such
signage and logos.

17. SATELLITE DISHES / RIGHT OF WAY FOR FIBER OPTIC CABLES

The LESSEE shall have the right to install satellite dishes/ radio link antenna on the limited area
of terrace of the Building subject to a load bearing certificate from an architect for its own use
only. LESSOR and LESSEE shall reasonably agree upon the location of the satellite
dishes and equipment. There shall be no charge for the right to keep the satellite dishes and
equipment on the terrace by the Lessor only for the self use of the lessee.

The Lessee shall have right to lay their Optic Fiber Cable within or outside the Building Premises
and the Right of Way for the same as per the Government Norms if any.

The Lessee agrees to restore to original condition any changes that may be made to existing
premises. The Lessee shall be responsible for all the costs connected with the installation,
maintenance and removal of the satellite dishes and equipment and any approvals thereof however it
would be subject to HSIDC / concerned authorities guidelines / permissions required, if any.

18. NO OTHER RIGHT IN THE DEMISED PREMISES;-

The Lessee fully understands and acknowledges that save and except the limited right to use the
Demised Premises during subsistence of this lease in accordance with the terms hereof and as per
law, the Lessee shall have no right, title, interest, claim or concern of any nature whatsoever in
the Demised Premises and the said Plot, which belongs to and is owned exclusively by the Lessor.
The Lessee undertakes not to set up any claim and/or dispute etc. as regards the rights (except
for the tenancy rights) and title including ownership rights.

Lessor as regards the Demised Premises and the said Plot and/or as regards the Lessor’s
un-fettered and exclusive rights to sell, transfer and dispose off the same at any time the Lessor
desires, without any objection/ hindrance/ claim from the Lessee.

19. INSURANCE

	a.	 	LESSOR shall obtain structural insurance coverage of the entire said Building i.e. shell
structure including third-party liability and shall make timely payment of all insurance
premiums. The LESSEE shall in no way be responsible for any loss occasioned by the LESSOR
on account of the 

 

 

	 	 	LESSOR not obtaining comprehensive insurance coverage for the said
building. The LESSOR shall provide a copy of the same to the LESSEE for their records.
	 
	b.	 	LESSEE shall obtain comprehensive insurance coverage, including third
party coverage, of all interior works, renovations, furniture, equipment and/or other
items kept or stored in the said Premises and shall make timely payments of all insurance
premia. The LESSOR shall in no way be responsible for any loss incurred by the LESSEE on
account of not obtaining comprehensive insurance coverage of all renovations, furniture,
equipment and/or other items kept or stored in the said Premises.

20. FORCE MAJEURE

That it is further agreed between the parties that if during the term of the lease the whole or
any part of the Demised Premises shall be destroyed by any act of God and/or natural calamity
limited to earthquakes, floods, storms, lightning, torrential rains, tsunami, and other natural
calamity over which neither party has any control (“Force Majeure Event”) so as to render the
Demised Premises substantially unfit for the use and occupation of the Lessee or so as to
deprive the Lessee of substantial use of the same or so as to render the rebuilding or
reconstruction of the Building in its previous form impracticable or undesirable in the opinion
of the Lessor but so long as such damage or destruction shall not be attributable to the Lessee
then upon the happening of any such damage or destruction as aforesaid, the rent hereby reserved
or a proportionate part thereof according to the nature and extent of damage sustained shall
abate until the Demised Premises shall have been rebuild or reinstated or made fit for the
occupation and use of the Lessee provided always that the Lessor shall be under no obligation to
restore and reinstate the Demised Premises if the Lessor shall consider that it is commercially
impracticable to do so in which case the Lessor shall notify the Lessee in writing by giving 30
days notice and the lease shall be determined forthwith, and Provided further that if the
restoration and reinstatement of the Demised Premises is not likely to be completed within a
period of six months from the date the damage and/or destruction occurred either party may upon
the expiry of such period terminate this lease forthwith by written notice to the other.

21. DUTIES OF LESSEE

	a.	 	That the Lessee shall abide by and comply with all the laws/ rules and regulations as may
be applicable of local authorities including Haryana Administration, Municipal Corporation/
Committee, HSIIDC,, Electricity and Water Departments or any other authorities whatsoever
with relation to the usage of the Demised Premsies by the Lessee and its operations carried
out therefrom and shall not keep or store any dangerous explosive fire hazard object in the
Demised Premises and shall follow the laws and bye-laws of Fire Act, Electricity Act,
Pollution (Protection) Act etc. and shall keep the Lessor fully indemnified. The Lessee
shall pay all the taxes, levies, challans, penalties and fines of any kind connected with
the operations/affairs carried on by the Lessee in the Demised Premises.

 

 

	b.	 	That the Lessee shall not carry out any structural changes without the prior written consent
of the Lessor.
	 
	c.	 	The Lessee shall not store goods of hazardous or combustible nature or which are so heavy
so as to effect the structural safety of the said building or any part thereof.
	 
	d.	 	The Lessee shall take all fire preventive measures at its own risk and cost and the Lessee
shall ensure that fire fighting equipments are properly maintained. The Demised Premises
shall not be stopped under any circumstances.
	 
	f.	 	That the Lessee has verified and has fully satisfied itself regarding the soundness, nature,
extent and quality of the construction, structure, fixtures and fittings, sanctioned plans of
the building, purpose for which the demised premises can be used etc. and has also verified
and fully satisfied itself about the soundness of the title of the Lessor. Hereafter, no claim
and/or demand etc. shall lie upon the Lessor on any ground whatsoever.

22. NOTICE

Save as otherwise specifically provided in this Lease Deed, any notice, demand or other
communication to be served under this Lease Deed lease may be served upon any Party hereto only by
registered speed post acknowledgement due to the Party to be served at its address below, or at
such other address as it may from time to time notify in writing to the other Party hereto

	 	 	 	 	 
	S. No.	 	Name of the	 	Address
	 	 	 	 	 
	1.

	 	Lessor
	 	103, Udyog Vihar, Phase 1,

Gurgaon, Haryana
	 	 	 	 	 
	2.

	 	Lessee
	 	A-6 Bhagwan Das Nagar,

New Delhi-110026

Attn.: Director

In case of change in registered office address of the Lessor and/or the Lessee the same should be
informed in writing to the other Party otherwise the notice sent at the earlier mentioned address
would be deemed to be properly sent and delivered for all communications.

22. WAIVER

Any delay, indulgence or forbearance by the parties hereto in enforcing the terms of this
Lease Deed shall not be construed on the part of such party of any breach or non compliance of any
of the terms and conditions of this Lease Deed by the

 

 

other party nor shall the same in any manner
prejudice the rights of the party delaying, indulging or forbearing in enforcing the terms of this
Lease Deed.

23. ENTIRE AGREEMENT

That the LESSEE and LESSOR agree that this Lease Deed constitutes the entire settlement between
the parties pertaining to terms of lease and the same revokes and supersedes all previous
discussions, previous correspondence etc., if any, concerning matter herein whether oral or
implied. Terms of lease shall not be changed, altered or modified except by written amendments
duly executed by the parties.

24. STAMP DUTY AND LEGAL COSTS

	a.	 	The LESSEE & the LESSOR will equally share the stamp duty & registration charges as per the
relevant Stamp Act for Registration of Lease Deed. The Lessor shall retain the original of the
Lease Deed and the Lessee the duplicate thereof. Each party shall bear its own legal fees and
expenses.
	 
	b.	 	The Lease Deed is being executed on the basis of representations made by the LESSOR with
regard to the title of the property. The Lessor agrees to indemnify the Lessee against any
losses incurred on account of any misrepresentations as mentioned above.

25. JURISDICTION

That this transaction has taken place at GURGAON and as such GURGAON/Haryana Courts shall have
exclusive jurisdiction to entertain any dispute arising out or in any way touching or concerning
this deed.

IN WITNESS WHEREOF, the Lessor and the Lessee have signed this Lease Deed at Gurgaon on the date
first mentioned above in the presence of the following witnesses;

	 	 	 	 	 	 	 	 	 	 
	Drafted by 	 	For P R Gartex Pvt. Ltd.
	 
	 	 	 	 	 	 	 
	/s/ Mahesh K. Chauhan
	 	 	 	LESSOR	 	:	 	/s/ 	Dinesh Kalucha
	Mahesh K. Chauhan
	 	 	 	 	 	 	 	 	Auth. Sign.
	Advocate
	 	 	 	 	 	 	 	 	 
	Gurgaon
	 	 	 	For Make My Trip (India) Pvt. Ltd.
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	LESSEE	 	:	 	/s/ 	Deep Kalra
	 
	 	 	 	 	 	 	 	 	Authorised Signatory

WITNESSES

	 	 	 	 	 
	1. /s/ Mahesh K. Chauhan	 	 	2. /s/ Ram Niwas	 
	Mahesh K. Chauhan
Advocate
Gurgaon	 	 	Ram Niwas
Advocate
GurgaonEX-10.10

EXHIBIT 10.10

	 	 	 	 	 
	[LOGO] 

	 	1st Floor, Kailash Building,
	 	 
	 

	 	26, Kasturba Gandhi Marg,	 	 
	 

	 	New Delhi - 110 001.	 	 
	 

	 	Tel.: 011-41699481	 	 
	 

	 	Fax: 011-41699483	 	 

Sanction Letter (Working Capital Facilities)

Date: 07/09/2009

Mr. Rajesh Magow

Chief Financial Officer

Make my Trip (lndia) Pvt. Ltd.

103, Udyog Vihar-I,

Gurgaon-122016

Dear Sir,

Subject - Sanction Letter for Working Capital Facilities

We are pleased to inform you that, the bank has agreed to enhance following working
capital facilities to MakeMyTrip (India) Pvt. Ltd. payable on demand and subject to
periodic review.

	 	 	 	 	 	 	 
	1.

	 	Borrower
	 	:
	 	MakeMyTrip (India) Pvt.Ltd.
	 
	 	 	 	 	 	 
	2.

	 	Constitution
	 	:
	 	Private Limited Company
	 
	 	 	 	 	 	 
	3.

	 	Directors
	 	:
	 	a) Mr. Deep kalra
	 

	 	 	 	 	 	b) Mr. Keyur Joshi
	 

	 	 	 	 	 	c) Mr. Philip Wolf
	 

	 	 	 	 	 	d) Mr. Sanjeev Bikhchandani
	 

	 	 	 	 	 	e) Mr. Frederic Lalonde
	 

	 	 	 	 	 	f) Mr. Vibhor Mehra
	 

	 	 	 	 	 	g) Mr. Ravi Chandra Adusumalli
	 

	 	 	 	 	 	h) Mr. Sanjeev Aggarwal
	 

	 	 	 	 	 	i) Mr. Aditya Guleri

	 	 	 	 	 	 	 
	4.

	 	Nature of the facility
	 	:
	 	Working Capital facilities

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sr.	 	 	 	Existing	 	Revised	 	 
	No	 	Facility	 	(Rs. MM)	 	(Rs. MM)	 	Tenor
	1
	 	Fund Based facility	 	 	 	 	 	 	 	 	 	 
	 	A
	Cash Credit (CC)	 	 	80.00	 	 	 	100.00	 	 	On demand
	 	B
	OD against Fixed Deposits	 	 	400.00	 	 	 	400.00	 	 	On demand

 

 

	 	 	 	 	 	 	 
	5.

	 	Purpose
	 	:
	 	facility to be used by the borrower towards Financing working capital requirements of the Business.
	 
	 	 	 	 	 	 
	6.

	 	Validity period of the sanction
	 	:
	 	As the same has been enhanced interim i.e. would be renewable annually in Feb’10

The aforesaid credit facilities are subject to the main terms and conditions (subject to
change as per RBI directives / bank policies from time to time) set out in Annexure I
hereto which is deemed to be a part of the Credit Agreement Letter. The credit
assistance is also subject to the conditions that are contained in the documents, which
the company shall execute between and in favour of HDFC Bank.

HDFC Bank based on the representations made by the Borrower and the furnishing of
financial statements by the Borrower has extended these proposed facilities.

The commitment to the proposed facilities is contingent upon:

	-	 	Absence of any material adverse change in the condition of the borrower.
	 
	-	 	The Borrower or its associate not having defaulted under any financing
obligation to any bank or institution in past
	 
	-	 	compliance by the Borrower of all laws and regulations applicable to
its operations
	 
	-	 	The Borrower fulfilling all its financial obligations under various
taxation, retiral and applicable laws prevalent from time to time.
	 
	-	 	All future borrowings by the Borrower (or their associate) would be
with the prior permission of HDFC Bank.
	 
	-	 	Subordination of all existing unsecured loans from promoters /
associates and an undertaking that they will not be withdrawn from business without
Bank’s consent.

The working capital facilities are not available for Investments made in shares,
debentures, advances and inter-corporate loans / deposits to other companies (including
subsidiary companies). The said facilities are being extended at the sole discretion of
HDFC Bank and the terms and conditions as well as pricing would be to subject to
periodic review, amendment or cancellation.

HDFC Bank’s Right on Default

The borrower further agrees that in addition to any other right enjoyed by HDFC Bank in
the event of the Borrower committing any act of default, HDFC Bank shall be entitled to
disclose to the Reserve Bank of India or to any other third person, on its being called
upon to do so, the name / identity of the Borrower and the fact of its having committed
any act of default as aforesaid.

The above letter is valid for 15 days from the date of issue. Kindly sign on the
duplicate of this Sanction Letter as a token of your acceptance to the above and return
the same, along with the duly completed documentation, in order to proceed ahead.

2 of 8

 

We look forward to your drawal of the proposed facilities and assure you of our best
services always.

Regards,

For HDFC Bank Ltd.

	 	 	 	 	 
	/s/ Udit Azad

	 	/s/ Vishal Sachdeva
	 	/s/ Rajesh Sharma
	Udit Azad

	 	Vishal Sachdeva
	 	Rajesh Sharma
	Relationship Manager

	 	Senior Manager
	 	Regional Head - North
	ECG

	 	ECG
	 	ECG

	 	 	 	 	 
	Accepted on behalf of the Company
For MakeMyTrip India Pvt. Ltd.
	 	 	 	 
	 	 	 	 	 
	/s/ Rajesh Magow
	 	 	 	 
	Mr. Rajesh Magow
Chief Financial Officer
	 	 	 	 

3 of 8

 

Annexure I

	 	 	 	 	 
	1.

	 	Facility
	 	Cash Credit
	 	 	 	 	 
	2.

	 	Existing Limit
	 	Rs.80.00 MM
	 	 	 	 	 
	3.

	 	Proposed Limit
	 	Rs.100.00 MM
	 	 	 	 	 
	4.

	 	Interchangeability
	 	N.A.
	 	 	 	 	 
	5.

	 	Tenor
	 	On demand
	 	 	 	 	 
	6.

	 	Security
	 	• Assignment of Credit Card Receivables (Exclusive charge) through POS Terminals or Payment Gateways or otherwise to HDFC Bank, both present and future
	 

	 	 	 	• Exclusive charge on Current Assets of the Company both present and future.
	 

	 	 	 	• Exclusive charge on owned fixed assets of the Company both present and future.
	 	 	 	 	 
	7.

	 	Margin
	 	30% margin on the Credit Card Receivables being routed through our Bank
	 	 	 	 	 
	8.

	 	Book debts
	 	Margin - 25 %
	 

	 	 	 	Debtors ageing more then 90 days to be excluded
	 	 	 	 	 
	9.

	 	Interest
	 	12.25% p.a. + Interest tax as & when applicable, payable at monthly rests
	 	 	 	 	 
	10.

	 	Interest payment frequency
	 	Interest shall be payable at monthly rests.
	 

	 	 	 	Interest shall be payable on the first day of the subsequent month.
	 	 	 	 	 
	11.

	 	Interest calculation method
	 	Interest will be calculated on 365 days basis in respect of rupee loans / credit facilities
	 	 	 	 	 
	12.

	 	Penal Interest
	 	Penal interest would be levied @ 3.00 % over and above the rate as mentioned in clause 11 above for all overdues / delays of any monies payable (principal as well as interest).
	 	 	 	 	 
	13.

	 	Documentation
	 	• Accepted Sanction Letter
	 

	 	 	 	• Request Letter for availing the facilities
	 

	 	 	 	• DPN and LOC for DPN
	 

	 	 	 	• Letter of General Lien and Set off
	 

	 	 	 	• Letter of hypothecation of credit card receivables routed through HDFC Bank PG
	 

	 	 	 	• Letter of Hypothecation for Stock and Book Debts
	 

	 	 	 	• Letter of Hypothecation on Fixed Assets of the Company
	 

	 	 	 	• Form 8 to be registered within 30 days from the date of disbursal

4 of 8

 

Annexure II

	 	 	 	 	 
	1.

	 	Facility
	 	Over Draft (OD)
	 	 	 	 	 
	2.

	 	Existing Limit
	 	Rs.400.00 MM
	 	 	 	 	 
	3.

	 	Proposed Limit
	 	Rs.400.00 MM
	 	 	 	 	 
	4.

	 	Sub-Limits
	 	NIL
	 	 	 	 	 
	5.

	 	Interchangeability
	 	N.A.
	 	 	 	 	 
	6.

	 	Tenor
	 	On demand
	 	 	 	 	 
	7.

	 	Security
	 	– Fixed Deposit with Lien marked in favour of HDFC Bank
	 	 	 	 	 
	8.

	 	Margin
	 	– OD to be released to the Company would be 120% of the FD amount under lien with us.
	 	 	 	 	 
	9.

	 	Inventory
	 	N.A.
	 	 	 	 	 
	10.

	 	Book debts
	 	N.A.
	 	 	 	 	 
	11

	 	Interest
	 	FD Rate +1%p.a.
	 	 	 	 	 
	12

	 	Interest payment frequency
	 	Interest shall be payable at monthly rests.
	 

	 	 	 	Interest shall be payable on the first day of the subsequent month.
	 	 	 	 	 
	13

	 	Interest calculation method
	 	Interest will be calculated on
365 days basis in respect of rupee loans / credit facilities
	 	 	 	 	 
	14

	 	Penal interest
	 	Penal interest would be levied @ 3.00 % over and above the rate as mentioned in clause 11 above for all overdues / delays of any monies payable (principal as well as interest).
	 	 	 	 	 
	15

	 	Documentation
	 	1. Request letter for availing the credit facilities
	 

	 	 	 	2.
Board resolution for availing facility, creation of security &
execution of necessary documents for availment of facilities

	 

	 	 	 	3. Attested copy of Memorandum
& Articles of association.
	 

	 	 	 	4. Demand Promissory Note(DPN)
	 

	 	 	 	5. Letter of Continuity for DP Note(LOC)
	 

	 	 	 	6. Memorandum relating to charge over Fixed Deposits(MRFD)

5 of 8

 

Operational terms and conditions

	 	 	 	 	 	 	 
	1.	 	Period of
sanction	 	The working capital facilities are payable on demand. However the facilities are available for a period of 12 months subject to review at periodical intervals wherein the facilities may be continued / cancelled / reduced depending upon the conduct and utilization of the facilities.
	 	 	 	 	 
	2.	 	Insurance	 	- Company has to ensure comprehensive insurance cover against all risks for primary security viz., entire stocks of raw materials, work-in-process, finished goods, fixed assets, consumable stores, spares and other movables.

	 	 	 	 	- Value of insurance policy should be equal to the value of the stocks at any point of time.

	 	 	 	 	- Any shortfall in the value of insurance cover shall be covered immediately by the company or by the Bank by debiting the former’s operative account with the Bank.

	 	 	 	 	- The policies should be either in the joint names of the company and the Bank or bank’s lien should be noted on the policies as first loss payee.

	 	 	 	 	 
	3.	 	Stock Audit	 	On Yearly Basis
	 	 	 	 	 
	4.	 	Submission of
stock
Statements	 	Monthly stock and book
debts to be received within 15 days after month end (Obsolete
Stocks must be clearly excluded and age not exceeding 90 Days)

Delayed submission will attract penalty at Rs 500/- for each day of delay.
	 	 	 	 	 
	5.

	 	Valuation	 	 	 	 
	 

	 	Inventory
	 	Raw materials, consumable stores, spare.
	 	At cost, current market rates, Govt. controlled rates or invoice rates, whichever is the lowest.
	 

	 	 	 	Finished Goods
	 	At cost, current market rates, Govt. controlled rates, Borrower’s selling price, whichever is the lowest.
	 

	 	 	 	Stock Statement
	 	Within 15 days from the end of the month.
	 	 	 	 	 
	6.

	 	Periodicity of submission of information to the Bank
	 	Quarterly / Annual Financial Statements
	 	- Quarterly financial statements – 45 days from the end of a quarter.

	 

	 	 	 	 	 	- Annual Financial statement
	 

	 	 	 	 	 	- Provisional results to be received within 75 days after the financial year end.

	 

	 	 	 	 	 	- Audited results to be received within 180 days after the financial year end.

6 of 8

 

	 	 	 	 	 	 	 
	7.	 	Creation of Charges	 	Renewal cum enhancement:
	 	 	 	 	The company shall modify the charges already filed with the Registrar of Companies within the statutory period (30 days) in respect of enhanced credit facilities. The company shall also modify charges in respect of security offered (Ist charge / second charge / EMs etc.) for the enhanced limits within 30 days from the date of documentation for creation of security for the enhanced limits.
	 	 	 	 	 
	8.	 	Processing Fees	 	Rs 2 lakhs + service tax as and when applicable

	 	 	 	 	 
	Applicable Laws

	 	:
	 	Indian / Mumbai

General Covenants -

	 	 	 
	–

	 	Aforesaid credit facilities are subject to the main terms and conditions (subject to change as per applicable
RBI guidelines and banks policies from tie to time) set out in this Credit agreement letter. The credit
facilities are also subject to the conditions that are contained in the documents which the company shall
execute between and in favour of the bank.
	 	 	 
	–

	 	There should be no change in the promoter’s shareholding without the prior written intimation to HDFC Bank Ltd.
	 	 	 
	–

	 	The company will not avail any working capital facilities / bill discounting facilities or any other facility
except from Banks in Multiple Banking Arrangement. This will be constituted as an event of default and would
result in a recall of the facilities.
	 	 	 
	–

	 	Company to avail Cash Management Collection facility from HDFC Bank Ltd.
	 	 	 
	–

	 	The company will not undertake any additional borrowings without the bank’s prior written consent.
	 	 	 
	–

	 	Please note that the facilities as mentioned in this letter are sanctioned at the sole discretion of the bank
and is recallable on demand.
	 	 	 
	–

	 	Company to maintain a positive networth of atleast Rs 25 Cr during the currency of our facility
	 	 	 
	–

	 	Undertaking to fund all future losses through equity capital infusion till the company starts making profits.
	 	 	 
	–

	 	All outlets of MakeMyTrip to have HDFC Bank POS machines subject to competitive offer.
	 	 	 
	–

	 	All credits received in ICICI Bank whether Cash/Cheque/ Credit Card/Payment gateway receivables of an amount
above Rs.1.50Crs. for Monday to Thursday and Rs.4.50Crs. for Fridays and any Credit balance on Saturdays to be
remitted to Cash Credit a/c with HDFC Bank on a daily basis for which the Company shall issue irrevocable and
unconditional instructions to ICICI Bank to remit ,without any right of lien or set-off, to HDFC Bank on a daily
basis, and submit their acceptance of these instructions in writing to HDFC Bank
	 	 	 
	–

	 	The amount maintained with ICICI Bank on a daily basis to be used for making payments to Low Cost Airlines only
as deposit/booking.
	 	 	 
	–

	 	Credit Card / payment gateway receivables thru Citibank to be remitted to Cash Credit a/c with HDFC Bank on a
daily basis for which the Company shall issue irrevocable and unconditional instructions to CITIBANK whose
PG/POS terminals are/will be used for Credit Card acquisition, to remit the credit card receivables, without
any right of lien or set-off, to HDFC Bank on a daily basis, and submit their acceptance of these instructions
in writing to HDFC Bank.

7 of 8

 

	 	 	 
	–

	 	The Company shall issue irrevocable and unconditional instructions to all present and
future banks whose PG/POS terminals are/will be used for Credit Card acquisition, to remit
the credit card receivables, without any right of lien or set-off, to HDFC Bank on a daily
basis, and submit their acceptance of these instructions in writing to HDFC Bank.
	 	 	 
	–

	 	A minimum thruput of Rs 12 Crs per month to be routed through HDFC Bank payment gateway / POS
Terminal.
	 	 	 
	–

	 	The company will not lend funds to/invest in group entities without the Bank’s written
consent.
	 	 	 
	–

	 	The company will not raise addl. Borrowings or create charge on its properties/assets in
favour of any other lender without the Bank’s consent.
	 	 	 
	–

	 	All other Terms and Conditions of our Sanction Letter dated – 03-06-09 shall remain
unchanged.

8 of 8

 

[LOGO]

1st Floor, Kailash Building,

26, Kasturba Gandhi Marg,

New Delhi - 110 001.

Tel.: 011-41699481

Fax: 011-41699483

Sanction Letter (Working Capital Facilities)

Date: 05/04/10

Mr. Rajesh Magow

Chief Financial Officer

MakemyTrip (lndia) Pvt.Ltd.

103, Udyog Vihar-I,

Gurgaon-122016

Dear Sir,

Subject - Sanction Letter for Working Capital Facilities

We are pleased to inform you that basis the company’s request the Bank has agreed
to amend the below clause in General Covenants for Working Capital facilities to
MakemyTrip (India) Pvt.Ltd.

Existing Covenant-

	-	 	All future borrowings by the Borrower(or their associates) would be with the
prior permission of HDFC Bank
	 
	-	 	The company will not avail any working capital facilities / bill discounting
facilities or any other facility except from Banks in Multiple Banking Arrangement. This
will be constituted as an event of default and would result in a recall of the
facilities.

Revised Covenant

	-	 	All future secured borrowings by the Borrower(or their associates) would be with
the prior permission of HDFC Bank

This is subject to TOL/TNW <=2.0x. The Computation of the ratio by the Bank would be final
& binding.

All other Terms and Conditions/Covenants advised vide Sanction Letter dated 07/09/09 shall
remain unchanged

Assuring you the best of our service always.

Thanking you,

For HDFC Bank Ltd.

	 	 	 	 	 
	/s/ Udit Azad

	 	/s/ Vishal Sachdeva
	 	/s/ Rajesh Sharma
	Udit Azad

	 	Vishal Sachdeva
	 	Rajesh Sharma
	Relationship Manager

	 	Senior Manager
	 	Regional Head - North
	Emerging Corporates Group

	 	Emerging Corporates Group
	 	Emerging Corporates Group

 

Registered Office : HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Website : www.hdfcbank.com

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