Document:

Exhibit 10.15

 

		 	INDIA
        NON JUDICIAL

         

        Government
        of National Capital Territory of Delhi

         

        e-Stamp

 

	Certificate No.	:	IN-DL11605771197837L
	 	 	 
	Certificate Issued Date	:	07-May-2013 08:57 AM
	 	 	 
	Account Reference	:	IMPACC (IV)/ dl736003/ DELHI/ DL-DLH
	 	 	 
	Unique Doc. Reference	:	SUBIN-DLDL73600322562119484486L
	 	 	 
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Description of Document	:	Article 5 General Agreement
	 	 	 
	Properly Description	:	NA
	 	 	 
	Consideration Price (Rs.)	:	0
	 	 	 
	 	 	(Zero)
	 	 	 
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Second Party	:	NA
	 	 	 
	Stamp Duly Paid By	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Stamp Duty Amount(Rs.)	:	100
	 	 	 
	 	 	(One Hundred only)

 

 

[ILLEGIBLE]

 

    	 

    	 

    

 

		 	INDIA
        NON JUDICIAL

         

        Government
        of National Capital Territory of Delhi

         

        e-Stamp

 

	Certificate No.	:	IN-DL11605749494714L
	 	 	 
	Certificate Issued Date	:	07-May-2013 08:57 AM
	 	 	 
	Account Reference	:	IMPACC (IV)/ dl736003/ DELHI/ DL-DLH
	 	 	 
	Unique Doc. Reference	:	SUBIN-DLDL73600322562167691236L
	 	 	 
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Description of Document	:	Article 5 General Agreement
	 	 	 
	Property Description	:	NA
	 	 	 
	Consideration Price (Rs.)	:	0
	 	 	 
	 	 	(Zero)
	 	 	 
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Second Party	:	NA
	 	 	 
	Stamp Duty Paid By	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Stamp Duty Amount(Rs.)	:	100
	 	 	 
	 	 	(One Hundred only)

 

 

[ILLEGIBLE]

 

    	 

    	 

    

 

		 	INDIA
        NON JUDICIAL

         

        Government
        of National Capital Territory of Delhi

         

        e-Stamp

 

	Certificate No.	:	IN-DL11605817908063L
	 	 	 
	Certificate Issued Date	:	07-May-2013 08:58 AM
	 	 	 
	Account Reference	:	IMPACC (IV)/ d1736003/ DELHI/ DL-DLH
	 	 	 
	Unique Doc. Reference	:	SUBIN-DLDL73600322562091283416L
	 	 	 
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Description of Document	:	Article 5 General Agreement
	 	 	 
	Property Description	:	NA
	 	 	 
	Consideration Price (Rs.)	:	0
	 	 	 
	 	 	(Zero)
	 	 	 
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Second Party	:	NA
	 	 	 
	Stamp Duty Paid By	:	BHARAT BUSINESS CHANNEL LTD
	 	 	 
	Stamp Duty Amount(Rs.)	:	100
	 	 	 
	 	 	(One Hundred only)

 

 

[ILLEGIBLE] 

 

    	 

    	 

    

 

RF 245 New AG3

 

AGREEMENT FOR TERM LOAN

 

(To be stamped as an Agreement and not to
be attested)

 

THIS Agreement is made
at New Delhi this 13th day of May 2013

 

BETWEEN

 

M/s. Bharat Business Channel
Limited, a public limited company incorporated under the Companies Act 1956 having its registered office at Auto Cars Compound.
Adalat Road, Aurangabad-431 005. Maharashtra State and Corporate Office at 1st Floor, Techweb Centre, New Link Road,
Near Mega Mall Oshiwara, Mumbai-400 102.

 

Hereinafter referred to as the
Borrower/s (Which expression shall include his/her/theirs/its heirs, executors, administrators, successors and assigns wherever
the context shall so permit)

 

BANK OF MAHARASHTRA, a body corporate,
constituted by and under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970 and having its Head Office at
“Lokmangal” 1501, Shivajinagar, Pune 411 005 and a Branch office amongst other places at Industrial Finance Branch.
Apeejay House. 1.Dr V B Gandhi Marg. Fort, Mumbai 400 001. (Hereinafter called “Bank” which expression shall unless it
be repugnant to the subject or context thereof, include its successors and assigns) of the OTHER PART.

 

WHEREAS the Borrower/s has/have
requested the Bank to grant to the Borrower/s a term loan of Rs 100,00,00,000/- (Rupees One Hundred Crore only) for the purpose
of ongoing capital expenditure which the Bank has agreed to do on the Borrower's agreeing to repay the said loan with interest
and other charges as hereinafter mentioned and on the Borrower/s agreeing to comply with the terms and conditions contained herein
in addition to the other terms and conditions that may be stipulated by the Bank from time to time either in the letter of sanction
or otherwise.

 

 

 

    	Page 1 of 7

    	 

    

 

NOW IT IS AGREED BY AND BETWEEN THE PARTIES as follows:

 

		1	In pursuance of the said agreement and in consideration of the sum of Rs 100,00,00,000
                                                               (Rupees One Hundred Crore only) agreed to be lent/lent and advanced by the Bank to the Borrower/s in one or more
                                                               installments according to the needs of the Borrower/s and as the Bank deems (in the Borrower/s hereby covenant/s with the
                                                               Bank to repay the said sum of Rs. 100,00,00,000/- (Rupees One Hundred Crore only) or such sum as may be actually advanced in
                                                               such installments and on such dates and in the manner set out in the schedule hereunder written In the event of failure of
                                                               the Borrower/s to pay any one installment on its due date the entire amount then outstanding shall at the option of the Bank
                                                               become due and payable immediately.

 

		2	The Borrower/s agrees with the Bank that so long as the said Facilities of any portion thereof
will remain outstanding or unpaid, the Borrower/s will pay to the Bank interest on the outstandings from time to time and commission,
costs, charges, expenses, penal interest etc at such late and rests and periodicity as mentioned in the in the Bank's sanction
letter No. AY39/IFB(M)/BBCL/AG/2013 dated 11.05.2013 a copy whereof is annexed as Second Schedule. The present Rate of Interest
at Base Rate+2.75% p.a i.e 13.00% p.a presently Rate of Interest shall be reset at the end of 12 months from the date of first disbursement
and every year thereafter.

 

However, the bank shall be entitled
to change the rate of interest periodicity, mode and basis/ method of charging, based on any statute of Government/RBI guidelines
or policy of the Bank or change in the credit risk rating or any other criteria for changing the said interest as may be deemed
lit and necessary by the bank in its sole discretion and the borrower hereby agrees to pay interest at such changed rate from time
to time as if the same has been provided hereunder.

 

		3	The bank hereby reserves the right to review the rate of interest stipulated and shall be entitled
to reset the rate of interest as may be considered appropriate by the bank in its sole discretion. The reset date would be as stated
in the sanction or as may be stipulated by the bank.

 

		4	The Borrower hereby agrees that in the event of failure to comply with any of the terms and conditions
contained in the sanction letter as well as in this agreement, such interest shall be capitalized and will carry interest at the
same rate as is applicable to the said facilities. It is specifically agreed by the borrower/s that the right of the bank to capitalize
the interest is in addition to the right of the bank to charge additional interest/penal interest @ 2% or such other rate as may
be stipulated by the bank from the date of default to the date of actual payment and will be treated as an advance secured by these
presents. Similarly Borrower agrees to pay commitment changes, as per policy of the Bank, in case of prepayment of credit facilities.

 

 

 

    	Page 2 of 7

    	 

    

 

		5	Notwithstanding the Bank's decision/action/policy, if any, to reverse any debit entry or not
                                                               to debit interest or not to make any debit entry in Bank's books or in ledger account or in statement of account or any
                                                               account for any period whatsoever, the Borrowers shall be bound and liable to pay jointly and severally to the Bank, the
                                                               entire outstanding debit balance and compound interest thereon with quarterly/monthly/half yearly/yearly rests till the date
                                                               of realization recovery or collection by the Bank of all such amounts plus penal interest, additional interest liquidated
                                                               damages commission, costs, charges and expenses at such rates as may be prevailing or fixed or to be fixed by the Bank from
                                                               time to time without reference, notice or intimation by the Bank at any time whatsoever.

 

		6	The borrower shall abide by and fully comply with all other terms condition, provisions and stipulations
contained in the letter of sanction no AY39/IFB(M)/BBCL/AG/2013 dated 11.05.2013, copy whereof is annexed hereto as Second Schedule
together with such amendments/modifications/changes, variations or alterations if any made by the bank from to time in its sole
discretion without any notice or reference to the Borrower. Besides the said terms and conditions stipulated in the sanction letter
the borrower covenants to abide by and comply with all the terms condition, provisions and stipulations contained in this document.

 

		7	In default of payment of any one/two installments of quarterly interest as stated above the
                                                               Bank shall be entitled to demand payment of the entire amount then outstanding in respect of the said loan, as if the period
                                                               for repayment has expired and shall also be entitled, on failure to pay the interest at the end of each quarter, to debit to
                                                               the borrower/s loan account and capitalize the amount of such interest as if such amount was a fresh loan advanced by the Bank
                                                               to the Borrower/s and shall be entitled to charge like interest thereon, in addition to the charging penal interest at the
                                                               rate of 2% p.a. from the date of default to the date of payment of such defaulted interest.

 

 

 

    	Page 3 of 7

    	 

    

 

the Bank may first be
appropriated by the Bank towards costs, charges and expenses incurred by the Bank and surplus amount, if any may thereafter
be appropriated by the Bank towards interest chargeable by the Bank and surplus amount, if any, may lastly be appropriated by
the Bank towards principal amount due to the Bank.

 

		15	The Rank shall be entitled at any time and from time to time without any notice, reference or intimation
to Borrower/s and without Borrower/s consent to adjust, appropriate or set off any credit balance or any part thereof due or to
become due to Borrower/s in any of Borrower/s current savings, term deposit or any deposit account or any account whatsoever at
any of the Bank’s branches in Borrower/s name/s with or without joint names of any other persons or before or after the maturity
dates thereof towards satisfaction or part satisfaction of outstanding debit balances due or to become due by Borrower/s to the
Bank in any account at any of the Bank’s branches whatsoever.

 

		16	Borrower/s do hereby agree, undertake, record, declare, admit, assure promise, acknowledge
                                                                and confirm to abide by accept, satisfy, fulfill, carry out Perform and comply fully with all the terms, conditions
                                                                requirements sanctions, provisions and stipulations or any amendments or modifications therein made or to be made by the Bank
                                                                at any time or from time to time in its discretion concerning any of Borrower/s facilities, limits or accounts without any
                                                                reference, notice or intimation by the Bank in that behalf.

 

		17	In case of default committed by the Borrower, the Bank shall be entitled to publish name, photograph,
dealings, etc. of the Borrower in any media such as television, local T.V. network, newspaper, magazine, internet mobile, etc. as
the Bank in its sole discretion may decide.

 

		18	the Borrower/s. agree that as a pre-condition,relating to grant of the loans / advances /
                                                                                  other non-fund-based credit facilities to the Borrower/s and relating to the guarantees by the Borrower/s in the Bank's
                                                                                  favour the Bank requires the Borrower/s’ consent for the disclosure by the Bank of information and data relating to the
                                                                                  Borrower/s of the credit facility availed / to be availed by the Borrower/s, obligations assumed / to be assumed by the
                                                                                  Borrower/s, in relation thereto and default, if any committed by the Borrower/s, in discharge thereof.

 

 

  

    	Page 5 of 7

    	 

    

 

1.    Accordingly
the Borrower/s, hereby agree and give consent for the disclosure by the Bank of all or any such:

 

		a)	information and data relating to the Borrower/s:

 

		b)	the information or data relating to in any credit facility availed / to be availed by me/us, and
relating to our obligations as guarantors and

 

c)    default,
if any committed by the Borrower/s, in discharge of the Borrower/s, such obligation, as the 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.

 

		2.	The Borrower/s declare that the information and data furnished by the Borrower/s to the Bank are
true and correct

 

		3.	The Borrower/s doth / do hereby undertake that:

 

a)  the Credit Information
Bureau (India) Ltd. and any other agency so authorized may use, process the said information and data disclosed by the Bank in
the manned as deemed fit by them; and

 

b)  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 banks / financial institutions and other credit grantors or registered users, as may be specified
by the Reserve Bank in this behalf.

 

		19	Any stamp duty, penalty, registration charges, or deficit therein, if any payable on this document
shall be borne and paid by the Borrower/s and not by the Bank.

 

		20	Any demand or notice to be made or given to the Borrower/s may be made or given by leaving the
same at or posting the same by post in an envelope under Certificate of posting addressed to the Borrower/s at their place of business,
residence or office on the last known address and every such demand or notice shall be deemed to be receiver as the case may be
at the time at which it is left or at the time at which it should have been delivered in the ordinary course of post.

 

 

 

    	Page 6 of 7

    	 

    

 

The First Schedule Above referred
to 

 

REPAYMENT SCHEDULE

 

The company shall repay the principal amount
of the RTL in 24 unequal quarterly installments commencing after 21⁄4 years from the date of first disbursement as under:

 

	 	 	Amt. out of total loan	 	No. of	 	
		 	to be repaid during the	 	quarterly	 	(Rupees
	Year	 	year	 	installments	 	in crore)
	2015-16	 	5.00%	 	4	 	5.00
	2016-17	 	7.50%	 	4	 	7.50
	2017-18	 	15.00%	 	4	 	15.00
	2018-19	 	20.00%	 	4	 	20.00
	2019-20	 	25.00%	 	4	 	25.00
	2020-21	 	27.50%	 	4	 	27.50
	Total	 	100.00%	 	24	 	100.00

 

Due date for the repayment of each quarterly installment shall
be at the last date of corresponding quarter.

 

The interest shall be payable immediately as and when applied
to the account.

 

Bank shall have the right to review the operations of the Borrower
during tenor of the loan and may revise the repayment schedule in consultation with the Borrower.

 

The Second Schedule Above referred to

 

Copy of the letter of sanction Letter No AY39/IFB (M)/BBCL/AG/2013
dated 11.05.2013.

 

IN WITNESS WHERE OF Borrower/s has / have hereunto set his/their
respective hands the 13th day May month and year 2013 first hereinabove mentioned.

 

COMMON SEAL OF BHARAT BUSINESS CHANNEL LIMITED HEREUNTO AFFIXED
IN THE PRESENCE OF Shri. S.Murukan (Constituted Attorney under Power of Attorney dated 11.05.2013)

 

		 	

 

AUTHORISED SIGNATORIES OF BHARAT BUSINESS CHANNEL LIMITED IN
PURSUANCE OF THE BOARD RESOLUTION dated 11.05.2013.

 

	
        Signed, and delivered by

        Shri.V.K.Sharma

        Deputy General Manager,

        Mumbai Industrial Finance Branch

        Authorised Officer of the Bank.
	 	

 

    	Page 7 of 7Exhibit 10.16

 

		
        INDIA
        NON JUDICIAL

         

        Government of National Capital Territory of
        Delhi

         

        e-Stamp
	 

 

	Certificate No.	:	IN-DL70818827762114M
	Certificate Issued Date	:	25-Jun-2014 12:52 PM
	Account Reference	:	IMPACC (IV)/ dl736003/ DELHI/ DL-DLH
	Unique Doc. Reference	:	SUBIN-DLDL73600338484162271494M
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	Description of Document	:	Article 5 General Agreement
	Property Description	:	Not Applicable
	Consideration Price (Rs.)	:	0
	 	 	(Zero)
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	Second Party	:	Not Applicable
	Stamp Duty Paid By	:	BHARAT BUSINESS CHANNEL LTD
	Stamp Duty Amount(Rs.)	:	100
	 	 	(One Hundred only)

 

 

.......................................................Please
write of type below this line........................................................

 

THIS STAMP PAPER FORMS AN
INTEGRAL PART OF DEED OF HYPOTHECATION DATED 28th DAY OF JUNE 2014 EXECUTED AT NEW DELHI BY BHARAT BUSINESS CHANNEL
LTD IN FAVOUR OF YES BANK LTD.

 

  

Statutory Alert:

 

1. The authenticity of this Stamp Certificate should be
verified at [ILLEGIBLE] available on the website renders it invalid.

2. The onus of checking the legitimacy is on the users
of the certificate.

3. In case of any discrepancy please inform the
Competent Authority.

  

    	 

    	 

    

  

		
        INDIA
        NON JUDICIAL

         

        Government of National Capital Territory of
        Delhi

         

        e-Stamp
	 

 

	Certificate No.	:	IN-DL70818530355210M
	Certificate Issued Date	:	25-Jun-2014 12:52 PM
	Account Reference	:	IMPACC (IV)/ dl736003/ DELHI/ DL-DLH
	Unique Doc. Reference	:	SUBIN-DLDL73600338484596585171M
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	Description of Document	:	Article 5 General Agreement
	Property Description	:	Not Applicable
	Consideration Price (Rs.)	:	0
	 	 	(Zero)
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	Second Party	:	Not Applicable
	Stamp Duty Paid By	:	BHARAT BUSINESS CHANNEL LTD
	Stamp Duty Amount(Rs.)	:	100
	 	 	(One Hundred only)

 

 

.......................................................Please
write of type below this line........................................................

 

THIS STAMP PAPER FORMS AN
INTEGRAL PART OF DEED OF HYPOTHECATION DATED 28th DAY OF JUNE 2014 EXECUTED AT NEW DELHI BY BHARAT BUSINESS CHANNEL
LTD IN FAVOUR OF YES BANK LTD.

 

  

Statutory Alert:

 

1. The authenticity of this Stamp Certificate should be
verified at [ILLEGIBLE] available on the website renders it invalid.

2. The onus of checking the legitimacy is on the users
of the certificate.

3. In case of any discrepancy please inform the
Competent Authority.

  

    	 

    	 

    

  

		
        INDIA
        NON JUDICIAL

         

        Government of National Capital Territory of
        Delhi

         

        e-Stamp
	 

 

	Certificate No.	:	IN-DL70818243361959M
	Certificate Issued Date	:	25-Jun-2014 12:51 PM
	Account Reference	:	IMPACC (IV)/ dl736003/ DELHI/ DL-DLH
	Unique Doc. Reference	:	SUBIN-DLDL73600338485030937454M
	Purchased by	:	BHARAT BUSINESS CHANNEL LTD
	Description of Document	:	Article 5 General Agreement
	Property Description	:	Not Applicable
	Consideration Price (Rs.)	:	0
	 	 	(Zero)
	First Party	:	BHARAT BUSINESS CHANNEL LTD
	Second Party	:	Not Applicable
	Stamp Duty Paid By	:	BHARAT BUSINESS CHANNEL LTD
	Stamp Duty Amount(Rs.)	:	100
	 	 	(One Hundred only)

 

 

.......................................................Please
write of type below this line........................................................

 

THIS STAMP PAPER FORMS AN
INTEGRAL PART OF DEED OF HYPOTHECATION DATED 28th DAY OF JUNE 2014 EXECUTED AT NEW DELHI BY BHARAT BUSINESS CHANNEL
LTD IN FAVOUR OF YES BANK LTD.

 

 

Statutory Alert:

 

1. The authenticity of this Stamp Certificate should be
verified at [ILLEGIBLE] available on the website renders it invalid.

2. The onus of checking the legitimacy is on the users
of the certificate.

3. In case of any discrepancy please inform the
Competent Authority.

 

    	 

    	 

    

  

DEED OF HYPOTHECATION

 

THIS DEED OF HYPOTHECATION executed
at Delhi this day 28th of June 2014 by Bharat Business Channel Ltd, a Company within the meaning of the Companies Act,
1956 and having its Registered Office at Auto Gas Compound, Adalat Road, Aurangabad – 431005 having Branch at Delhi

 

OR

 

	M/s	 	,

a partnership firm registered
under Indian Partnership Act, 1932 having its principal place of office at ___________________

	  
	 

 

OR

 

	Mr./ Ms.	 	,

Indian Inhabitant carrying
on business as sole Proprietor/Proprietress in the name and style of M/s 
_____________________

		 	 at
		 	 

 

hereinafter referred to as
“the Borrower” (which expression shall, unless excluded by or repugnant to the context or meaning thereof,
be deemed to include its successors and administrators) in favour of Yes Bank Limited a Company within the meaning of the
Companies Act, 1956 and having its Registered Office at Nehru Centre, 9th Floor, Discovery Of India, Dr. A.B. Road,
Worli, Mumbai 400018, hereinafter referred to as “the Lender” (which expression shall, unless excluded
by or repugnant to the context or meaning thereof, be deemed to include its successors, administrators and assigns )

 

		 Page 1 of 11

 

    	 

    	 

    

  

WHEREAS

 

		(A)	The Borrower is engaged in the business
                                         of inter-alia Direct to Home Services

 

		(B)	The Lender has sanctioned to the Borrower,
                                         credit facilities in terms of the Lender’s Facility Letter Ref. No.YBL/DEL/FL/0347/2014-15
                                         dated June 28, 2014 [‘the Agreement’], for financing Capen,
                                         reimbursement of Caper etc, to an extent of Rs.2,75,00,00,000 /- (Rupees Two hundred
                                         and seventy five Crore. Only) being in the nature of Term Loan Facility.

 

		(C)	The term Agreement shall include any modification, extension or, supplemental thereto. The above
mentioned credit facility is hereinafter referred to as ‘the Facility’.

 

		(D)	The Borrower has, by accepting the terms and conditions as contained in the Agreement, agreed to
avail the Facility from the Lender and to repay the same together with interest thereon at the agreed/stipulated rate with provisions
for payment of additional interest, liquidated damages, commitment charges, payable and outstandings from time to time by the Borrower
as set out in the Agreement.

 

		(E)	In terms of the Agreement, the Borrower and the Lender have agreed that the principal sums under
the Facility together with all interest, costs, expenses and other monies whatsoever stipulated therein, are to be secured in the
form of a hypothecation in favor of the Lender, on all the Hypothecated Assets, more particularly defined in the Schedule
hereto.

 

Now
this deed witnesseth as follows:

 

		(1)	In consideration of the Lender granting/ continuing to grant the Facility to the Borrower under
the Agreement, the Borrower hereby hypothecates by way of a subsequent hypothecation charge on all movable assets including movable
fined assets in favour of the Lender, a brief description whereof is given in the schedule hereunder written which now or hereinafter
from time to time during the continuation of this security shall be due to or accrue in favour of the Borrower, as the case may
be, hereinafter called Hypothecated Assets as security for the repayment by the Borrower to the Lender of the amounts due and outstanding
from the Borrower to the Lender in respect of the Facility as mentioned ibid, at any time or ultimately on the termination
of the Facility, and for the payment of all the debts and liabilities mentioned in Clause 9 hereof. The expression “the amounts
due and outstanding” in this and the subsequent clauses of this Deed shall be taken to include the principal moneys from
time to time due in respect of the Facility and also all interest and overdue interest thereon calculated from day to day in accordance
with the Lender’s usual practice and the amounts of all charges and expenses which the Lender may have paid or incurred in
any way in connection with the Hypothecated Assets or the recovery or disposal thereof.

 

		 Page 2 of 11

 

    	 

    	 

    

  

		(2)	Notwithstanding anything contained in the previous clause, the Borrower shall at all times during
the continuance of this security keep and maintain such margin of security in favour of the Lender if any as may be notified by
the Lender from time to time. The Borrower shall not operate or draw against the Facility so as to exceed the margin of security,
if any as the Lender may from time to time fix. If at any time the margin is not maintained, then the Borrower shall forthwith
(according to and as the Lender may require) either hypothecate in favour of the Lender, such further assets as approved by the
Lender and of sufficient value to make up the deficiency or shall reduce the outstanding amounts of the Facility by cash payment,
so as to maintain the required margin.

 

		(3)	The Hypothecated Assets shall be held for the benefit of the Lender specially appropriated to this
security and the Borrower will not, without the Lender’s prior written consent, create any further charge, lien or encumbrance
affecting the same or any part thereof nor do anything which would prejudice the security hereby created and the Borrower shall
not part with the Hypothecated Assets other than in the ordinary course of business.

 

		(4)	The Borrower shall, with the previous consent of the Lender, be at liberty from time to time to
sell or dispose off in any manner otherwise than in the ordinary course of business, the Hypothecated Assets or any part thereof
provided the value of such Hypothecated Assets realised, is utilised to repay the Facility.

 

		(5)	The Borrower shall permit the Lender, their agents and servants from time to time and at all times,
at risk and expense of the Borrower, to enter upon any premises wherein the Hypothecated Assets and/or the records of the Hypothecated
Assets or any part thereof may for the time being be maintained and to view, inspect and evaluate the same and make records/ take
copies thereof and render to the Lender and their servants all facilities as may be required for any of the purposes aforesaid.

 

		(6)	The Borrower shall, if so required by the Lender, cause an indication or marking with the name
of the Lender and a statement to the effect that the Hypothecated Assets stored, kept or otherwise recorded have been hypothecated
in favour of the Lender, distinctly affixed/written/printed thereon to be shown at all times in a conspicuous manner upon on all
or any such premises and/or records where the Hypothecated Assets are maintained and/or recorded, during the continuance of the
security created hereby.

 

		(7)	In addition, the Borrower shall make and furnish to the Lender, all statements and returns of the
details of the Hypothecated Assets and a full description thereof and produce such evidence in support thereof, as the Lender may
from time to time require.

 

		 Page 3 of 11

 

    	 

    	 

    

  

		(8)	Interest as applicable in terms of the Agreement, shall be calculated and charged on the Facility
outstanding balance, until the Facility is fully liquidated, and shall be regularly paid by the Borrower.

 

		(9)	On demand by the Lender in terms of the Agreement, the Borrower shall pay to the Lender, the Facility
balances then due to the Lender together with all interest (including overdue interest, if any) at the rates mentioned therein
and the amount of all further charges and expenses (if any) to the date of payment, provided nothing contained in this clause shall
be deemed to prevent the Lender from demanding payment of the interest for the time being due at the above mentioned rate without
at the same time demanding payment of the balance due to the Lender, exclusive of such interest.

 

		(10)	In default of payment by the Borrower of any money secured in terms of these presents or in the
event of the Borrower committing a breach of any of the terms and conditions of these presents or of the Agreement, or the occurrence
of any circumstances in the opinion of the Lender, endangering this or any other security, the Lender and their officers and agents
shall be entitled without notice to the Borrower but at the Borrower’s risk and expense and if so required, as attorneys
for and in the name of the Borrower or otherwise, to exercise the rights available to the Lender under Clause 16 of these presents.

 

		(11)	If the net sum realised or to be realised pursuant to the exercise of such power in the clause
16 of these presents, be insufficient to cover the balance then due to the Lender, the Lender shall be at liberty to apply any
other money or moneys in the hands of the Lender standing to the credit of or belonging to the Borrower in or towards payment of
the balance for the time being due to the Lender and in the event of there not being any such money or moneys as aforesaid in the
hands of the Lender or in the event of such money or moneys being still insufficient for the discharge in full of such balance,
the Borrower promises and agrees forthwith on production to them of an account to be prepared and signed as in Clause 13 hereof
to pay further the balance which may appear to be due by the Borrower thereon PROVIDED ALWAYS that nothing herein contained shall
be deemed to negate, qualify or otherwise prejudicially affect the right of the Lender (which it is hereby expressly agreed the
Lender shall have) to recover from the Borrower, the balance for the time being remaining due from the Borrower to the Lender,
upon the Facility, notwithstanding that all or any of the said Hypothecated Assets may not have been realised.

 

		(12)	In the event of there being a surplus available pursuant to Clause 11 of these Presents, after
payment in full of the balance due to the Lender, it shall be lawful for the Lender to retain and apply the said surplus together
with any other money or moneys belonging to the Borrower for the time being in the hands of the Lender in or under whatever account
as far as the same shall extend against, in, or towards payment or liquidation of any and all other moneys which shall be or may
become due from the Borrower, whether solely or jointly with any other person or persons, firm or company, to the Lender by way
of loans, discounted bills, letters of credit, guarantees, charges or of any other debt or liability including bills, notes, credit
and other obligations current though not then due or payable or other demands, legal or equitable, which the Lender may have against
the Borrower, or which the law of set off or mutual credit would in any case admit and whether the Borrower shall become or be
adjudicated bankrupt or insolvent or be in liquidation or otherwise and interest thereon from the date on which any and all advance
or advances in respect thereof shall have been made at the rate or respective rates at which the same shall have been so advanced.

 

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		(13)	The Borrower agrees to accept, in the absence of any manifest error, as conclusive proof of the
correctness of any sum claimed to be due from them to the Lender under this Deed, a statement of account made out from the books
of the Lender and signed by the accountant or other duly authorised officer of the Lender without the production of any other voucher,
document or paper.

 

		(14)	This Deed is to operate as security for the balance from time to time due to the Lender and also
for the ultimate balance to become due on the Facility and the Facility is not to be considered to be terminated for the purpose
of this security and the security of the Hypothecated Assets is not to be considered exhausted by reason of the Facility being
brought to credit at any time or from time to time or of its not being drawn upon to the full extent of the said aggregate sum
of Rs. 2,75,00,00,000/-, if afterwards reactivated by a payment to credit.

 

		(15)	The Borrower hereby declares that all the Hypothecated Assets shall be the absolute property of
the Borrower, at the sole disposal of the Borrower hereof, free from any prior charge or encumbrance and that all future assets
hereunder shall be likewise their unencumbered undisposed property and that the Borrower has/shall not done/do or knowingly suffered/suffer
or been/be party or privy to anything whereby it is/shall be in any way prevented from hypothecating the Hypothecated Assets in
the manner as contained herein and that the Borrower will do and execute at its costs all such acts and things for further and
more particularly assuring the Hypothecated Assets or any part thereof to the Lender as shall be required by the Lender and for
giving better effect to these Presents, the Borrower hereby irrevocably authorises and appoints the Lender and/or their officers
as attorneys and in the name of the Borrower to act on behalf of the Borrower and to execute and do any act, assurance and things
which the Borrower ought to execute and do under these Presents or generally to use the name of the Borrower in the exercise of
the powers hereby conferred.

 

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		(16)	In the event of default on the part of the Borrower in observing any of the terms and conditions
of the Agreement or of these presents, or if an event of default occurs as mentioned in the Agreement, or if the borrower receives
any notice of winding up and a winding up petition is filed which is not dismissed within a period of two months from the date
of service of such winding up petition or any provisional liquidator is appointed or any assets of the borrower or the borrower
ceases to carry on business or passes a resolution to that effect or any of the assets of the borrower moveable or immoveable is
attached or if the borrower is under voluntary or compulsory liquidation or on the occurrence of any circumstances in the opinion
of the Lender, prejudicing or endangering this or any other security, the Lender shall, in addition to the powers conferred hereby
or the Agreement, be entitled (at the Borrower’s risk and expense) as Attorney(ies) for and in the name of the Borrower,
(the Borrower hereby appointing the Lender, in its individual capacity to be its Attorney) to appoint Receivers or any other appropriate
agents or agencies for the Hypothecated Assets forming part of the security created hereby, and give notice and demands to the
Borrower and the parties liable in respect of those Hypothecated Assets and to demand, sue, recover and receive and give receipts
and discharges for the same, realise by private contract or otherwise, dispose off all or any part of the said Hypothecated Assets
and enforce, compromise or settle by arbitration or deal in any manner with any of the said Hypothecated Assets or claims under
this security. The Borrower undertakes to transfer and deliver to the Lender all relevant documents or papers and agrees to accept
the Lender’s accounts or receipts from realisation under this security and to make good to the Lender any shortfall or deficiency
thereby shown.

 

		(17)	The Borrower agrees to execute on demand by the Lender such further documents as may be required
by the Lender in respect of the maintenance or realisation of the security created hereby.

 

		(18)	The Borrower shall not without the prior written consent of the Lender, receive, compound or realise
or commit any act with respect to the Hypothecated Assets whereby the recovery thereof is impeded, delayed or prevented.

 

		(19)	Provided always that this Deed is not to prejudice the rights or remedies of the Lender against
the Borrower irrespective and independent of this Deed in respect of any other advances made or to be made by the Lender to the
Borrower.

 

		(20)	Any change in the constitution of the Borrower or the Lender, during the validity of this Deed,
shall not impair or discharge the liability of the Borrower hereunder.

 

		(21)	The Borrower shall submit the proper declaration in respect of particulars of the Hypothecated
Assets held by them as and when required and in the form and manner prescribed by the Lender and will hand over the declaration
to the Lender to enable them to prepare their own declaration as regards the assets so hypothecated.

 

		(22)	Any notice by way of request demand or otherwise hereunder may be given by the Lender to the Borrower
personally or may be left at the then or last known place of business or residence in India of the Borrower or any of such individuals
addressed to the Borrower or may be sent by post to the Borrower addressed as aforesaid and if sent by post it shall be deemed
to have been given at the time when it would be delivered in due course of post and in proving such notice when given by post it
shall be sufficient to prove that the envelope containing the notice was posted and a Certificate signed by the Lender’s
respective local manager or duly authorised officer that the envelope was so posted shall be conclusive. If by any reason any such
notice cannot be given, the same if inserted once as an advertisement in a newspaper circulating in the district of the Lender’s
office shall be deemed to have been effectually given and received on the day on which such advertisement appears.

 

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		(23)	In the event of default by the Borrower under the Agreement, the Lender may take any steps to lake
possession or realise or enforce the security through the intervention of the Court or by appointing a Receiver or by sale or realisation
of the assets charged hereby or otherwise howsoever and in whatever manner as it deems fit and for that purpose exercise all rights
and powers vested in the Lender by law and/or under the Agreement and other documents executed between the Lender and the Borrower.

 

		(24)	In the event the security is realised howsoever and in whatever manner, proceeds of such realisations,
including monies received from insurance companies or otherwise in respect of the security, after deducting therefrom the costs,
(between attorney/advocate and client) charges and expenses incidental to such realisation, shall in the first instance be appropriated
towards or in satisfaction of all indebtedness of the Borrower due and outstanding under the Agreement, pro-rata in accordance
with the total amount of such indebtedness due and outstanding principal and interest and all charges under the existing Facility
or any of them and in respect of the Agreement as aforesaid and therefore the balance, if any, shall be available for and be appropriated
to the outstanding indebtedness or liabilities of the Borrower on any account or in any manner to the Lender in accordance with
the total amount of such other outstanding indebtedness or liabilities. In the event of the net proceeds of realisation being insufficient
for repayment of whole of the respective amounts due to the Lender, the same shall be appropriated in liquidation of the indebtedness
of the Borrower to the Lender as aforesaid in accordance with the total amount of such indebtedness and liabilities. Until such
appropriation the monies realised by any one of the Lender or by any Receiver appointed, shall be held by such Receiver in trust
for the Lender or by its/their agents, nominees, officer, in trust for the benefit of the Lender in accordance with its rights
hereunder.

 

		(25)	The Borrower hereby authorises the Lender to recover and realise all the present and future Hypothecated
Assets now owing or which may hereafter become owing to the Borrower in future from or by the various constituents customers, agents,
government concerns, dealers and all other persons/entities, and out of the net recovery and realisation so received to pay itself
the moneys in repayment of the Borrower’s dues to the Lender under or in respect of the said Facility

 

		(26)	The Borrower do hereby irrevocably and unconditionally nominate, constitute and appoint the Lender
to act through any of its officers for the time being of the Lender, each of them severally to be the Borrower’s true and
lawful Attorneys for the Borrower in its name and on its behalf and for its use and benefit and at its costs to do all the following
acts, deeds, matters and things or any of them that is to say:

 

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		a)	To ask, demand, sue for, recover and receive of and from all our constituents, customers, agents
and dealers and all other persons liable to pay, transfer and deliver the same respectively all and every debt or debts sum or
sums of money goods, chattels and effects due and owing to the Borrower which the Borrower has hypothecated to the Lender under
this Deed by virtue of any security or upon any balance of account or otherwise howsoever as we the Borrower shall at any time
hereafter in writing under our hand express to be due from them or any of them and upon receipt thereof or any part thereof for
the Borrower and in their name to give, sign and execute good and sufficient receipts, release, re-conveyances and other discharges
for the same respectively.

		b)	Upon non-payment non-transfer or non-delivery thereof or any part thereof respectively to commence,
carry on and prosecute any action, suit or other proceedings whatsoever for recovering and compelling the payment, transfer or
delivery thereof respectively and for that purpose to engage solicitors and advocates and to settle and pay their fees.

		c)	To settle, compound and submit to arbitration all actions, suits, accounts, claims and demands
whatsoever which now are or hereafter shall or may be pending between the Lender and the Borrower and any such constituent, dealers,
agents, customers and all other persons as aforesaid in such manner and in all respects as our said attorneys shall think fit.

		d)	To pay the Lender itself out of and to appropriate and credit the monies so realised after deducting
thereout all costs, charges and expenses incurred by the Lender for the recovery and realisation thereof, between advocate and
client and all the Lender’s usual charges against the said facility granted by the Lender to the Borrower and/or against
monies whatsoever due and payable by the Borrower to the Lender howsoever.

		e)	To sign, make, affirm and declare all such applications, affidavits, petitions, pleadings, written
statements, counterclaims, memos of review or revision and memos of appeal as the attorneys may deem proper.

		f)	To apply for, review of or to appeal from any order or decree passed against the Borrower.

		g)	To execute any order or decree passed in favour of the Borrower by attachment and sale of the property
of the judgment debtor and/or by detention of the person of the judgment debtor in civil prison.

		h)	To use and sign Borrower’s name for the purposes aforesaid.

		i)	To do and execute all such other acts deeds matters and things as may be necessary for the purposes
stated herein as fully and effectually to all intents and purposes as the Borrower could do in its own proper person if these presents
had not been made.

 

		(27)	The powers conferred under these presents shall be in addition to the powers conferred on the Lender
in the Agreement and if there be any inconsistency between the terms and conditions in the Agreement and these presents, the terms
and conditions in these presents shall prevail.

 

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		(28)	Notwithstanding anything contained to the contrary in the foregoing provisions, the rights and
powers vested in the Lender under the provisions of Securitisation and Reconstruction of financial Assets and Enforcement of Security
interest Act,2002 or any statutory modification or re-enactment thereof (the Act) shall remain unaffected and the said provisions
shall not prejudice the rights and powers of the Lenders specially the rights conferred upon the Lender under the Act to enforce
the securities under the various provisions of the said Act as also to securities the debt and security given therefor to the Lender
under these presents, it being clearly understood by and between parties to the end and intent that all the rights and powers granted
to the Lender under the said Act shall remain intact and shall not be prejudiced or curtailed by any of the provisions contained
herein and further the borrower agrees and consents to the same.

 

		(29)	In case of any disputes, the competent Court in Delhi shall have exclusive jurisdiction in the
matter.

 

In case of a Company

 

	THE COMMON SEAL OF Bharat Business Channel Ltd	)	 
	Limited, the Constituent herein has been affixed to	)	 
	these presents pursuant to the resolution of its Board	)	 
	of Directors passed at their meeting held on	)	 
	19 June 2014 in the presence of	)	 
	Mr. 	Saurabh Dhoot	)	 
	 	(name & description) and	)	 
	Mr. 	 	)	 
	 	(name & description) who	)	 
	have signed these presents in token thereof	 	 
	 	 	 	 	

In case of Partnership firm

 

IN WITNESS WHEREOF the Partners of the
Firm have set and subscribed their respective hands hereto, the day and year first hereinabove mentioned at _________________

 

For_________(Name of the Partnership
Firm)

 

)

 

)

 

(Partners)

 

ln case of Prop. Concern

 

IN WITNESS WHEREOF the said Proprietor/Proprietress
has set and subscribed his/her hand hereto, the day and year first hereinabove mentioned at ___________________

 

For_________(name of the Prop. Concern)

 

		 Page 9 of 11

 

    	 

    	 

    

  

)

 

)

 

(Proprietor/Proprietress)

 

SCHEDULE

 

[to the Deed of Hypothecation dated ______________ between __________________________________ (the
Borrower) and YES BANK Limited (the Lender) ]

 

The whole of the Current Assets of the
Borrower’s stocks of raw material, semi-finished and finished goods, stores and spares including relating to plant and machinery
(consumable stores and spares), Bills receivables and book debts and all other receivables and moveables, both present and future
whether lying or stored in or about or shall hereinafter from time to time during of the security of these presents be brought
into or upon or be stored or be in or about of the Borrower’s factories, premises and godowns situate anywhere and as the
same maybe or be held by any party to the order or disposition of the Borrower or in the course of transit or on high seas or on
order or delivery, howsoever or wheresoever in the possession and/or control of the Borrower and either by way of substitution
or addition.

 

AND

 

The whole of the Moveable Fixed
Assets of the Borrower’s including Plant and Machinery of all movable fixed assets of Borrower located at
 _________________________________________________________________________, both present and future or shall hereinafter
from time to time during of the security of these presents brought into to the order or disposition of the Borrower or in the
course of transit or on high seas or on order or delivery, howsoever or wheresoever ion the possession of the Borrower and
either by way of substitution or addition.

 

IN WITNESS WHEREOF the Borrower has caused this Deed to be
executed on the day, month and year first hereinabove written.

 

	SIGNED, SEALED AND DELIVERED	 
	 	 	 
	by 	Bharat Business Channel Ltd	 
	 	 	 
	in presence of	 
	 	 	 
	Saurabh Dhoot	 
	 	 	 
	_____ and the Common Seal of	 
	 	 	 
	Bharat Business Channel Ltd	 
	 	 
	was hereunto affixed in the pursuance of	 

 

 

 

		 Page 10 of 11

 

    	 

    	 

    

 

	
        the Resolution of the Board of Directors
	 
	 	 
	thereof dated	 
	 	 
	19 June 2014	 
	 	 
	in the presence of Saurabh Dhoot	 

 

		 Page 11 of 11

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