Document:

EX-10.8.2

 Exhibit 10.8.2 
 [One Hundred Rupees_India Non Judicial Stamp] 
 This stamp paper of Rs. 100 forms an Integral part
of Credit Facility Agreement dated 27/4/2012 executed between TV 18 Home Shopping Network Ltd. and The Ratnakar Bank Ltd. 

[Authorised Signatory Stamp] 

 [One Hundred Rupees_India Non Judicial Stamp] 

This stamp paper of Rs. 100 forms an Integral part of Credit Facility Agreement dated 27/4/2012 executed between TV 18 Home Shopping Network Ltd. and The
Ratnakar Bank Ltd. 
 [Authorised Signatory Stamp] 

 R - 03 

CREDIT FACILITY AGREEMENT 
 THIS Agreement (hereinafter referred to as the “Agreement”) is made at New Delhi on 27th April 2012 
 BETWEEN 
 M/s. TV18 Home Shopping Network Limited, a public / private limited company
incorporated under the Companies Act, 1956 and having its registered office at 503, 504 & 507, 5th Floor, Mercantile House, 15 Kasturba Gandhi Marg, New Delhi - 110001 (hereinafter referred to as “Borrower”, which expression shall
include its executors, administrators, successors and permitted assigns as the case may be) 
 And 

THE RATNAKAR BANK LIMITED, a company incorporated under the Indian Companies Act, 1913 and an existing Company within the purview of the Companies
Act, 1956 and registered with the Reserve Bank of India as Scheduled Commercial Bank and having its registered office at Shahupuri, Kolhapur – 416 001 and administrative office at “MAHAVEER”, Shri Shahu Market Yard Shahupuri, Kolhapur
– 416 005 (hereinafter referred to as “the Bank” which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors in interest, assigns, holding or subsidiary company and/or
associates), of the OTHER PART 
 WHEREAS the Borrower has requested the Bank to grant to the Borrower credit facilities aggregating to a sum of
Rs.40,00,00,000/- (Rupees Forty Crores only), which the Bank has granted / agreed to grant to the Borrower, upon the Borrower agreeing to repay the dues under the credit facilities with interest and
other charges as hereinafter mentioned and on the Borrower 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 dated 23/4/12 (“Letter of Sanction”) and also in the hypothecation agreement, pledge agreement, mortgage deed and/or any other documents that may be executed hereafter in respect of the aforesaid credit facilities or any of them
notified from time to time by the Bank to the Borrower. 
 NOW IT IS AGREED BY AND BETWEEN THE PARTIES as follows: 

 

	1.	 	The Borrower agrees to unconditionally abide by and observe all the terms and conditions herein after set out and as may be stipulated by the Bank from time to time.

  

	2.	 	In pursuance of this Agreement and in consideration of the sum of Rs.40,00,00,000/- (Rupees Forty Crores only), agreed to
be lent / lent and advanced by the Bank to the Borrower in one or more installments or according to the needs of the Borrower / nature of the credit facility, more particularly described in Schedule hereunder, (hereinafter referred to as
‘the Credit Facility/ies’), the Borrower hereby covenants with the Bank to repay the Credit Facility/ies 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 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. 

  
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	3.	 	The Borrower further covenants with the Bank to pay interest on the Credit Facility/ies or such sum as may be due by the Borrower to the Bank from time to time at the
rate and periodicity as mentioned in the Schedule hereunder written till the entire outstanding loan and interest thereon is repaid by the Borrower. The Borrower further agrees, in case of working capital limits, to pay minimum interest amounting to
three months’ interest on the sanctioned limit as and by way of commitment charges. Provided that the interest payable by the Borrower shall be subject to the changes in the interest rates made by the Reserve Bank of India and/or the Bank from
time to time. 

  

	4.	 	The Bank shall have the right to terminate all and/or any undrawn part of the Credit Facility/ies without giving notice to the Borrower. The Borrower shall be informed
and intimated by the Bank of such termination of the undrawn the Credit Facility/ies as soon as practicable by the Bank. 

  

	5.	 	In one or more of the events specified below in this Agreement hereinafter referred to as the “Events of Default”) the Bank shall be entitled to demand
payment of the entire amount then outstanding in respect of the said credit facilities, as if the period for repayment has expired and shall also be entitled, on failure to pay the interest at the end of each month to debit to the Borrower’s
accounts and capitalize the amount of such interest as if such amount was a fresh loan advanced by the Bank to the Borrower and shall be entitled to charge like interest thereon, in addition to the charging penal interest at the rate mentioned in
the Schedule hereunder written from the date of default to the date of payment of entire overdue amount with interest. 

  

	6.	 	The following event/s, either singly or together shall constitute an Event of Default, that is to say- 

(a) Default in payment of any installments of principal amount, interests, commissions etc., due and payable under any or all the Credit
Facility/ies sanctioned by the Bank; 
 (b) Default has occurred in the performance or observance of any other covenant,
condition, warranty or stipulation on the part of the Borrower under this Agreement or any other Agreement, documents executed and security created in favour of the Bank and such default has continued for a period of seven days; 

(c) Any information given by the Borrower is / are found to be misleading or incorrect or false or materially affecting the sanction or
continuation of the Credit Facility/ies; 
 (d) Default by the Borrower and/or other person, as may be applicable, in creation of
security interest to the satisfaction of the Bank within the period stipulated in this Agreement or Letter of Sanction or such other period as may be extended by the Bank. 
 (e) If there is any deterioration or impairment of the security or any part thereof or any decline in the value or market price thereof (whether actual or reasonably anticipated), or any event occurs
which causes or may in the opinion of the Bank cause the security or any part thereof to become unsatisfactory as to character or value: 
 (f) The Borrower, without the Bank’s prior written consent, charges; assigns, purports to charge or purports to assign credit funds; 

(g) Default by the Borrower and/or other person, as may be applicable, in creation of security interest to the satisfaction of the bank
within the period stipulated in this Agreement/Letter of Sanction/ such other period as may be extended by the Bank. 

  
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 (h) If any execution or distress or attachment or receiver or other process being enforced
or levied upon or against the whole or any part of the Borrower’s property, whether secured to the Bank or not; 
 (i) If
the management of the Borrower is taken over or is nationalized by the Central Government or State Government; 
 (j) If any
event or circumstance shall occur which shall in the opinion of the Bank be prejudicial or endanger or be likely to prejudice or endanger any security created in favour of the Bank; 

(k) Any proceeding initiated against the Borrower under laws of insolvency or under any other laws applicable to the Borrower for
liquidation, winding up or declaration as insolvent and for the purpose of this Clause such a proceeding need not be against all the Borrowers and a proceeding only against one of the Borrowers shall be construed as Event of Default; 

(I) If any Governmental or other license, approval authorisation, consent or exception, required to enable the Borrower to perform any of
its obligations under this Agreement, is withdrawn or modified or if it becomes otherwise unlawful for the Borrower to perform any of its obligations under this Agreement; 
 (m) In case security (ies) is offered as security by the Borrower and/or related party and/or security provider any land, building, structures, plant and machinery of the Borrower are sold, disposed of
and/or charged encumbered or alienated or the said buildings, structures, machinery plant and other equipments are removed, pulled down or demolished without the prior approval of the Bank. 

(n) Any indebtedness of the Borrower becomes due prior to its stated maturity by reason of default of terms thereof by the Borrower or any
such indebtedness is not paid at its stated maturity and such default, in the opinion of the Bank, will have a material adverse effect on the Credit Facility/ies. 
 (o) any change taking place in the ownership or control of the Borrower whereby the effective beneficial ownership or control of the Borrower will change; 

(p) any material change in the management of the business of the Borrower. 

 

	7.	 	The Borrower further agrees that the Bank shall be entitled to change the rate of interest, additional interest and / or periodicity of charging interest etc. as
mentioned herein at any time by giving notice to the Borrower and / or notifying on the notice board of the Bank or in the local Newspaper and shall thereafter be entitled to charge interest at the changed rate / rests as if the same was provided
for in this Agreement. 

  

	8.	 	The Borrower covenants that the Credit Facility/ies or amount advanced will be utilised for the purpose as stated in the Letter of Sanction and for no other purpose and
all the terms and conditions of sanction of the Credit Facility/ies will be duly observed. 

  

	9.	 	The Borrower agrees to give/create security for repayment of the Credit Facility/ies as and if required by the Bank and to execute such further documents by way of
registered / equitable mortgage of the immovable property belonging to the Borrower and / or hypothecation of movable plant and machinery, stocks of raw materials, current assets etc., as may be required by the Bank from time to time to secure the
Credit Facility/ies agreed to be lent / lent and advanced by the Bank of the balance outstanding in the Credit Facility/ies account from time to time. The Borrower shall procure execution of such mortgage documents by all the persons having any
right, title or interest in the property that may be offered in mortgage and to make out clear and marketable title to such property. 

  
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	10.	 	The Borrower further agrees to obtain solvent guarantors to the satisfaction of the Bank to guarantee the due repayment by the Borrower of the Credit Facility/ies and /
or the balance outstanding from time to time thereon and further agrees to procures the execution by the said guarantors of guarantee deeds in favour of the Bank and secured by way of registered or equitable mortgage of the guarantor’s
immovable property to secure the guarantee to be undertaken by the guarantors. 

  

	11.	 	Nothing herein contained shall prejudice any other security present or future or any right or remedy available to the Bank against the Borrower, their partners,
guarantors or other persons liable to pay or contribute towards the recovery of the moneys due by the Borrower to the Bank hereunder. 

  

	12.	 	If a cross default as below occurs it shall be treated as an Event of Default under this Agreement: 

 

	 	(a)	 	Any financial indebtedness including any money borrowed or raised, receivables sold or discounted or any other transaction entered into by the Borrower having the
commercial effect of borrowing or any guarantee or indemnity given by the Borrower (hereinafter together collectively referred to as “financial indebtedness”) is/are not paid when due nor within any originally applicable grace period;

  

	 	(b)	 	Any financial indebtedness of the Borrower is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default
(howsoever described); 

  

	 	(c)	 	Any commitment for any financial indebtedness of the Borrower is cancelled or suspended by a creditor as a result of an event of default (howsoever described);

  

	 	(d)	 	Any creditor of the Borrower becomes entitled to declare any financial indebtedness due and payable prior to its specified maturity as a result of an event of default
(howsoever described); 

 If any of the foregoing event occurs or there is reasonable apprehension in the opinion
of the Bank that any of the foregoing event may occur in respect of the said credit facility or in respect of any of the security(ies) provided by any person in terms of this Agreement to secure the Credit Facility/ies. 

On the question whether any of the above events/circumstances has occurred/ happened, the decision of the Bank shall be final, conclusive
and binding on the Borrower. 
  

	13.	 	No change whatsoever in the constitution of the Borrower shall impair or discharge the liability of the Borrower to the Bank hereunder. 

 

	14.	 	The Borrower agrees that this Agreement shall be in full force and effect and shall not be terminated till the Credit Facility/ies account is closed and all outstanding
thereon satisfied in full, nor shall it be treated as merged into, or modified or altered due to execution of the security and other documents hereafter. 

  

	15.	 	 The Bank shall be entitled at any time and from time to time without any notice, reference or intimation to Borrower and without Borrower’s
consent to adjust, 

  
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appropriate or set off any credit balance or any part thereof due or to become due to Borrower 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 with or without joint names of any other persons or before or after the maturity dates thereof towards satisfaction or part satisfaction of outstanding loan due or to become due
by Borrower to the Bank in any account at any of the Bank’s branches whatsoever. 

  

	16.	 	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 Borrower shall be bound and liable to pay jointly and severally to the Bank, the entire outstanding, debit
balance-and compound interest thereon with monthly rests till the date of realization, recovery or collection by the Bank of all such amounts plus interest, penal interest, interest tax, additional interest,
liquidated damages, insurance premium, 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 any reference, notice or intimation by the Bank at any time whatsoever.

  

	17.	 	The Borrower 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 the
Credit Facility/ies, limits or accounts without any reference, notice or intimation by the Bank in that behalf. 

  

	18.	 	Any demand or notice to be made or given to the Borrower 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 at their place of business, residence or office and every such demand or notice shall be deemed to be received 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. 

  

	19.	 	The Bank may, in its sole discretion, permit prepayment of the Credit Facility/ies at the request of Borrower, subject to the Borrower paying prepayment charges at the
rate as may be decided by the Bank, on the amount due under the said credit facilities. 

  

	20.	 	The Borrower represents, warrants, declares, affirms, confirms and covenants on continuing basis that:-

  

	 	(a)	 	the execution on behalf of the Borrower of this Agreement has been and the execution on behalf of the Borrower of the security documents will be validly authorised and
the obligations expressed as being assumed by the Borrower hereunder and under the security documents by the Borrower constitute and will constitute valid legal and binding obligations of the Borrower enforceable against the Borrower in accordance
with their terms; 

  

	 	(b)	 	Neither the execution and delivery hereof and of the security documents by the Borrower nor the performance or observance of any of obligations of the Borrower
thereunder shall; 

  
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	 	i.	 	conflict with or result in any breach of law, statute, rule, order, trust, agreement or other instrument, arrangement, obligation or duty by which the Borrower is
bound; or 

  

	 	ii.	 	cause any limitation on any of the powers whatsoever of the Borrower however imposed, or on the right or ability of the directors of the Borrower where the Borrower is
a company to exercise such powers to be exceeded 

  

	 	(c)	 	the Borrower has all the requisite legal power and authority to execute this Agreement and to carry out the terms, conditions and provisions, hereof, and to carry out
the terms, conditions and provisions and the execution and delivery of this Agreement by the Borrower has been duly authorized by all requisite action, and will not contravene any provision of, or constitute a default under, any other arrangement or
instrument to which it is a part or by which it or its property may be bound; 

  

	 	(d)	 	The Borrower or related party is not in default under any law, rule, regulation, order, mortgage, trust, instrument, agreement or other instrument, arrangement,
obligation or duty by which the Borrower is bound ; 

  

	 	(e)	 	The Borrower and its related party is of good financial standing and in a position to meet its ongoing obligations and has not been served with (or threatened with) a
notice of insolvency or bankruptcy and no petition has been filed or action initiated by the Borrower or any of the Borrower’s creditors or any outside party towards the Borrower’s insolvency or bankruptcy or winding up or for declaration
or registration as Sick under Sick Industrial Companies (Special Provisions) Act, 1985 or any other similar legislation in force. 

  

	 	(f)	 	The Borrower and related party, its proprietor or any of its directors or partners do not figure in any Defaulter List. The Borrower shall not induct a person in any
capacity whatsoever, who is a director/partner/member/trustee of an entity identified as willful defaulter. 

  

	 	(g)	 	The copies, certified by the Borrower’s company secretary or authorized signatory or Managing Director, of the Certificate of Incorporation and the Memorandum and
Articles of Association of the Borrower are true and effective and the Borrower shall not during the currency of this Agreement cause any alteration to be made in any of them without prior notification to and written consent of the Bank;

  
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	 	(h)	 	The Borrower is aware of and complies with the requirements of all laws, acts, ordinance, rules, regulations, orders of court, etc, of the Government of India and which
are applicable to the activities of the Borrower (“Environmental Laws”) standards applying to the Borrowers’ property and to the conduct of the Borrower’s business. 

 

	 	(i)	 	The Borrower and its officers exercise due diligence and take all necessary precautions to detect and prevent the commission of an offence under any Environmental Law
resulting in pollution of or harm to the environment or to any person or property, including the Borrower’s property. 

  

	 	(j)	 	At the date hereof such due diligence has not revealed any contamination of or emanating from any of the Borrower’s property. The Borrower’s occupation and
use of its property and the conduct of its business on its property does not breach any Environmental Law or standard. 

  

	 	(k)	 	There has been no notices or complaints from any environmental authority pursuant to any Environmental Law 

 

	 	(I)	 	Any notice or complaints that may have been received from any environmental authority pursuant to any Environmental Law have been answered to the satisfaction of the
complainant. 

  

	 	(m)	 	There is no proposal to revoke, suspend, modify or not renew any authorization or approval under any Environmental Law relating to any of the Borrower’s property
or the conduct of its business. 

  

	 	(n)	 	No proceedings or suits have been commenced, no court orders have been issued and no penalty has been imposed, in each case in relation to an offence by the Borrower or
its officers under any Environmental Law. 

  

	 	(o)	 	The Borrower agrees to: 

  

	 	i.	 	Comply with all reasonable requirements of the Bank concerning the application of all Environmental Laws and/or standards to or in relation to the Borrower’s
property or any part thereof. 

  

	 	ii.	 	Inform the Bank promptly of a) any existence of any contamination of or emanating from the Borrower’s property contrary to any Environmental Law and/or standards
b) the receipt of any penalty notices or directions to “clean up” the Borrower’s property issued under any Environmental Law c) the receipt of any notice or complaint referred to in (k) and (I) above; and d) the commencement
of any proceeding or suite, the issue of any order or the imposition of any penalty. 

  
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	 	(p)	 	Any cost incurred by the Bank for investigating or remediating such Environmental Laws and / or standard lapses, shall be borne by the Borrower.

  

	21.	 	The Borrower agrees and undertakes: 

  

	 	a.	to furnish to the Bank all such information, statements, particulars, estimates and reports as the Bank may require from time to time as to the compliance with the
terms of this Agreement and shall also submit to the Bank, in form and detail satisfactory to the Bank, the Financial Statements at such intervals and time, as may be prescribed / required by the Bank from time to time; 

 

	 	b.	to comply with the reporting requirements (including semi-annual compliance certificates, annual (audited) and semi-annual financial statements, notices of default,
notices of material litigation, and such other information and such access to the Borrower’s properties, books and records as the Bank may reasonably request); 

 

	 	c.	to provide quarterly, unaudited financial statements within 45 days of the close of relevant quarter; 

 

	 	d.	to provide audited financial statements within 6 (Six) months of year end and Drawing Power statements on a monthly basis. 

The Borrower further agrees and undertakes NOT TO, without the prior written permission of the Bank (a) diversify or change the line
of business (b) change or allow to be changed the ownership/ management structure of the Borrower including change in shareholding of promoters, directors and principal shareholders (c) dilute the capital holding of the promoters in the
borrower’s business as on date of this agreement (d) issue further capital or raise loan (e) use the Borrower’s funds towards unrelated activity (f) invest the Borrower’s funds in shares, debentures, deposits or other
instrument of any entity (g) pay dividend or distribute or withdraw profit (h) enter into an arrangement or compromise with creditors or shareholders or merger, amalgamation, consolidation, structuring, restructuring, or sell of its unit
or major property, (i) withdraw or allow to be withdrawn any monies brought in by the promoters and directors or relatives and friends of the promoters or directors of the borrower (j) borrow or obtain facilities of any description from
any other bank or other credit provider or enter into any hire purchase or lease agreement (k) shall not withdraw except with the Bank’s prior permission in writing or divert or misuse the funds and assets invested in or brought into the
business by the Borrower as capital, deposits or otherwise. 

  
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	22.	 	The Bank shall have uninterrupted and unobstructed access to the Borrowers’ premises, godowns and place or places for the purpose of inspection, valuation,
verification and taking inventory of goods, stock, plant and machinery and such other movable and immovable property charged or mortgaged to the Bank and for which purpose the Bank may authorise any person and the Borrower shall permit/allow such
person/persons without any obstruction to exercise the rights of the Bank under this clause. 

  

	23.	 	The Bank shall have right through its officers, nominees, agents, auditors, technical experts and such other persons to inspect or audit such books of accounts,
registers, books and documents of the Borrower and shall have right to be furnished at such intervals as the Bank may direct from time to time copy or copies of such documents, books and registers and the Bank shall further be entitled to appoint
whenever it considers necessary for such period for such terms as the Bank deems necessary and reasonable, any person, firm, company or association of persons engaged in technical, management, accounting, auditing or any other consultancy business
to inspect and examine the working of the Borrower and its undertaking and to audit its Books of Accounts, the method of accounting and such other things as the Bank may direct. All the costs, charges and expenses incurred by the Bank towards any
person so appointed shall be to the account of the Borrower. 

  

	24.	 	All sums payable by the Borrower under this Agreement shall be paid free of any restriction or condition and free and clear of and without any counter-claim, set off,
deduction or withholding, whether on account of tax deductions, charges, stamp duty, liability or impost or otherwise, if any, and the Borrower agrees as follows: 

 

	 	(a)	 	The Borrower shall make all payments to be made by it without any tax deduction, unless a tax deduction is required by law; 

 

	 	(b)	 	The Borrower shall promptly upon becoming aware that it must make a tax deduction (or that there is any change in the rate or the basis of a tax deduction) notify the
Bank accordingly; 

  

	 	(c)	 	If a tax deduction is required by Law to be made by the Borrower, the amount of the payment due from the Borrower shall be increased to an amount which (after making
any tax deduction) leaves an amount equal to the payment which would have been due if no tax deduction had been required; 

  

	 	(d)	 	If the Borrower is required to make a tax deduction, the Borrower shall make that tax deduction and any payment required in connection with that tax deduction within
the time allowed and in the minimum amount required by Law; 

  

	 	(e)	 	Within 30 (Thirty) days of making either a tax deduction or any payment required in connection with that tax deduction, the Borrower shall deliver to the Bank evidence
reasonably satisfactory to the Bank that the tax deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

  

	25.	 	The Bank may assign any of its rights or transfer any of its rights and obligations or sell the Credit Facility/ies or any part of the Credit Facility/ies or any other
right under this Agreement, with or without any underlying security, in any manner as the Bank deems fit whether with or without recourse to the Bank and without any reference or notice to the Borrower or without requiring to obtain any consent from
the Borrower and such assignment, transfer or sale can be in favor of any person whether located /placed in India or outside India. 

  
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 The Borrower shall not assign any of its rights or transfer any of its rights or obligations
under the Agreement. 
  

	26.	 	The Borrower shall indemnify and hold the Bank harmless from and against any and all loss, damage or other consequences which may arise or result from giving the Credit
Facility/ies to the Borrower or performing any service to the Borrower thereunder and shall reimburse the Bank upon demand for any payment, loss and damage which the Bank may make, suffer or sustain by reason or on account thereof and shall upon
request appear and defend at the Borrower’s own cost and expense any action which may be brought against the Bank in connection therewith. 

  

	27.	 	The Borrower accepts, confirms and consents for the disclosure and sharing by the Bank of all or any information and data relating to the Borrower, the said credit
facilities, any other transactions that the Borrower has with the Bank, the Borrower’s account, and the agreements and documents related to the Credit Facility/ies and transactions, including but not limited to information relating to default,
if any, committed by the Borrower, in the discharge of the Borrower’s obligations in relation to the Credit Facility/ies or other transactions, as the Bank may deem appropriate and necessary to disclose and furnish, to the Reserve Bank of India
(“RBI”) and/or to the Credit Information Bureau (India) Ltd and/or to any other agency or body as authorized in this behalf by RBI, to other banks and lenders including assignees and potential assignees, to its professional advisers and
consultants and to its service providers instructed by it in relation to the said credit facilities, and/or as required under law or any applicable regulation, at the order of a court of law, or at the request or order of any statutory, regulatory
or supervisory authority with whom it customarily complies. 

  

	28.	 	The Borrower undertakes and covenants that it shall provide all information, including information regarding other credit facilities enjoyed by the Borrower, as and
when required by the Bank. The Borrower declares that the information furnished to the Bank from time to time is and shall be true and correct. 

 The Borrower: 
  

	 	(a)	 	accepts that the RBI or the Credit Information Bureau (India) Ltd. and any other agency so authorized, any statutory, regulatory or supervisory authority or other
lenders, may use, process, disseminate the said information and data disclosed by the Bank in such manner as deemed fit by them in any particular circumstances; and 

 

	 	(b)	 	shall not hold the Bank at all responsible or liable in this regard. 

 It is agreed by the Borrower, that without prejudice to any rights of the Bank, all acts / steps as are necessary for the Bank to take in order to monitor the Credit Facility/ies and utilization thereof
and/or the obligations of the Borrower and /or the Borrower’s compliance with the terms thereof and / or to recover amounts due to the Bank or any part or portion thereof, shall and/or may be carried out by and / or through such other person
(including a company, a firm or body corporate) as may from time to time be appointed by the Bank in respect thereof and that the Bank will at all times be entitled to share with any such other person that may thus be appointed by the Bank, all
documents statements of accounts and other information of whatsoever nature pertaining to the Borrower and/or the said credit facilities. Further, the Borrower expressly recognises and accepts that the Bank shall, without prejudice to its rights to
perform such activities either itself or through its officers or servants, be absolutely entitled and have full power and authority to appoint one or more third parties of the Bank’s choice and to transfer or delegate to such third parties the
right and authority to 

  
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collect on behalf of the Bank all unpaid amounts and to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto including receiving the amounts due, and
generally performing all lawful acts as the third party may consider appropriate for such purposes. 
  

	29.	 	All rights and powers conferred on the Bank by this Agreement shall be in addition and supplemental to any rights the Bank has as a creditor against the Borrower under
any law for the time being in force and security documents and shall not be in derogation thereof. 

  

	30.	 	No delay in exercising or omission to exercise any right, power or remedy accruing to the Bank upon any default under this Agreement, security documents or any other
Agreement or document shall not impair any such right, power or remedy and nor shall the same be construed to be a waiver thereof or any acquiescence in such default, nor shall the action or inaction of the Bank in respect of any default or any
acquiescence by it in any default, affect or impair any right, power or remedy of the Bank in respect of any other default. Nor shall any single or partial exercise of any right, power or privilege by the Bank shall preclude any further exercise of
the same or the exercise of any other right, power or privilege by the Bank. The rights and remedies of the Bank provided herein and in the Security documents are cumulative and in addition to any rights and remedies provided by law which the Bank
shall be entitled, but without being bound, to exercise at its absolute discretion. 

  

	31.	 	This Agreement and any other documents attached hereto or referred to herein, integrate all the terms and conditions mentioned herein or incidental hereto, and
supersede all oral negotiations and prior writings in respect of the subject matter hereof, except for those provisions of the sanction letters, agreements, security documents issued or executed prior to this Agreement which are in addition to and
complement to, and are not the same or in conflict with, the terms of this Agreement. 

  

	32.	 	This Agreement shall always be read with the Schedule hereunder written, sanction letters and all other agreements and documents executed or to be executed by the
parties hereto and interpreted accordingly. 

  

	33.	 	The clauses of this Agreement, and the sub-clauses contained in each clause are severable and any illegality, invalidity or
irregularity inconsistency or repugnancy of any clause or any sub-clause in the clause shall not in any way affect the legality, validity or regularity of any other clause or clause of the sub-clauses. 

  

	34.	 	This Agreement shall be governed by and construed in all respects with the Indian Laws and the parties hereto agree that any matter or issues arising hereunder or any
dispute hereunder shall, at the option/discretion of the Bank, be subject to the exclusive jurisdiction of the Courts of New Delhi. This shall not however limit the rights of the Bank to file/take proceedings in any other court of competent
jurisdiction. 

  

	35.	 	Nothing contained in these presents shall be deemed to limit or affect prejudicially the rights and powers of the Bank under the Security documents or at law or equity.

	 	

  
 Page 11
of 12 

 SCHEDULE 
 (Details of Credit Facilities) 
  

											
	 Nature of

Credit
 Facility
	  	 Amt.

Rs.
	  	 Rate of

Interest*
	  	 Penal

Interest
	  	 Periodicity

of

charging
interest
	  	Repayment
	 Working Capital Demand Loan
	  	30.00 Crs	  	To be decided at the time of disbursement.	  	2% p.a.	  	Monthly	  	On Demand
	 Cash Credit
	  	10.00 Crs	  	BR +2.50% p.a. i.e. 13.50 %p.a.	  	2% p.a.	  	Monthly	  	On Demand

  

	*	 	In case of working capital limits, the minimum interest shall be equal to three months’ interest at agreed rate on the sanctioned limit, as and by way of
commitment charges 

 SIGNED AND DELIVERED BY 
 For TV 18 Home Shopping Network Ltd. 
 For TV 18 Home Shopping Network Limited 

/s/ SACHIN RASTOGI 
 Director/ Authorised Signatory/ (ies) 
 The common Seal of

 For TV 18 Home Shopping Network Limited 

the Borrower withinnamed has been affixed 

hereunto in the presence of:  
 Shri. / Smt. Roshni Tandon (company secretary)             
 Shri. / Smt.                              

Directors /
                             of the Borrowers 

in pursuance of the Board Resolution 
 dated
26/04/12 and they have signed below 
 the Seal to confirm that the Seal was affixed 
 in their presence. 

  
 Page 12
of 12EX-10.8.2.1

 Exhibit 10.8.2.1 

 
  

			
	 CAD/DEL/0019/2012-13
 Date:
December 14, 2012
	  	
		
	TV18 Home Shopping Network ltd	  	Network 18 Media & Investments limited
	503, 504 & 507, 5th Floor, Mercantile House,	  	Express Trade Tower,
	15 Kasturba Gandhi Marg. New Delhi - 110001	  	Plot No. 15 & 16, Sector 16A, Nolda - 201301

 Dear Sirs, 

With reference to your request for grant of credit facilities, we are pleased to advise that The Ratnakar Bank Limited (“RBL” or “the
Bank” or “the Lender”] has sanctioned the following credit facilities (the “Facilities”] to you M/s. TV18 Home Shopping Network Ltd (Borrower / Company) on the main terms and conditions set out below and other terms
and conditions as may be incorporated in the Credit facility Agreements) and other Transaction Documents to be executed shortly. The terms and conditions mentioned in this letter are in addition / modification to our previous sanction letter dated
April 23, 2012. The other terms and conditions in the said letter stand mutatis mutandis. 
  

	1	Facility Details 

  

											
	 S.No.
	  	 Facility and Tenor / Validity
	  	 Pricing
	  	 Margin
	  	 Security
	  	 Special Terms & Conditions

	1	  	 Facility: Cash Credit
  

Amount: Rs 10,00,00,000/- (Rupees Ten Crores only)
	  	All terms and conditions as mentioned in our earlier sanction letter ref no. CAD/MUM/0025/2012-13 dated 23.04.2012
						
	2	  	 Facility: Working Capital Demand Loan [WCDL)

 
 Amount: Rs.40,00,00,000/- (Rupees Forty Crores only) [Enhanced from Rs.
30.00 Crores)
  
 Purpose: Working Capital

 
 Tenor: Up to 12 months

 
 Repayment: On Maturity

 
 Availability Period:

12 months
	  	 Interest Rate:

To be decided at the time of disbursement.
  

Facility upfront fees (non-refundable):
 1.50% plus applicable taxes payable prior to disbursement on the enhanced amount.
	  	25%	  	Exclusive charge on current and movable fixed assets of the borrower including loans and advances	  	 Disbursement As per
 availability of Drawing Power
  

PDC for the Principal repayment
  

Corporate Guarantee
 Network 18
Media & Investments Limited.
  
 Other Terms
/Conditions:
 Refer Below

  

	2	Interest: 

 Interest on
each advance shall be due and payable on the last day of the term or on the last day of every calendar month or at such interval as may be stipulated by the Bank, whichever is earlier. Interest shall be computed based on the actual number of days
elapsed on (i) a 365 day year for Indian Rupees or (ii) such other day year that is customary for any other currency. 
  

 
 www.ratnakarbank.co.in 

 
 The Ratnakar Bank Limited

 Connaught Place Branch 
 Ground Floor, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi, | Telephone: +91 11 49365500 
 Registered Office 
 1st Lane, Shahupuri, Kolhapur - 41600 1. Maharashtra,
India. | Tel. +91 231 2653006 | Fax : +91 231 2653658 

  
 Page 1 of 9

 

 
  

 The Bank may at its sole discretion make disbursement(s)/allow drawal(s)utilisation of
the Facility or any part thereof pending creation and perfection of full and final security in favour of the Bank. In the event disbursement(s)/ drawal(s)/utilisation of the Facility or any part thereof are made pending creation and perfection of
full and final security in favour of the Bank [unless otherwise a specific time frame granted by the Bank], the Borrower shall pay additional interest at the rate of 2% p.a. over and above the applicable Interest/Commission, from the date of first
disbursement/drawal/utilisation of the Facility till the date the security is fully and finally created and perfected to the satisfaction of the Bank. Please note that the maximum period for creation and perfection of full and final security in
favour of the Bank is as per mentioned in Annexure A below. If the Borrower fails to create security in the above specified period it shall be treated as Event of Default. 
 Penal Interest. 
  

	 	•	 	 Any overdrawing in the account will attract additional interest @ 2% p.a. over and above the applicable interest on the overdue amount. In case of
running accounts like Cash Credit, if the overdrawing is on more than three occasions in a calendar month then the penal rate of 2% per annum will be charged on the entire outstanding in the account. 

 

	 	•	 	 Non -payment of interest / installment / any other amount due to the Bank on the due date will attract additional interest @ 2% on the overdue interest
/ installment / any other amount due to the Bank. 

  

	 	•	 	 Delay/non submission of stock statements/FFRs will attract additional interest @ 2% p.a. + applicable taxes from the date of default, on the
outstanding amount. 

 In addition to above, please note that: 

The Bank shall have the right to change the rate of interest as may be required by Reserve Bank of India or any other authority.

  

	3	Duties and Taxes: 

 The
Borrower shall bear all such imposts, duties and taxes (including interest, stamp duty and other taxes, if any) as may be levied from time to time by the Government or other authority with the sanction of law, pertaining to or in respect of the
Facility Amount. 
  

	4	Increased Costs: 

 The
Borrower agrees to pay to the Lender the amount of any increased Cost incurred by the Lender or any of its Affiliates as a result of: 
  

	 	•	 	 the introduction of, or any change in, or any change in the interpretation, administration or application of, any law or regulation; or

  

	 	•	 	 compliance with any law or regulation made effective after the date of this facility letter. 

The terms “law” and “regulation” in this clause shall include, without limitation, any law or regulation, circular or
notification concerning capital adequacy, prudential limits, liquidity, reserve assets or tax. 
 Provided that the Borrower need
not make any payment for an increased Cost to the extent that the increased Cost is: 
  

	 	•	 	 compensated for under another clause in this Facility Letter or would have been but for an exception to that clause; or 

 

	 	•	 	 attributable to the Lender or its Affiliates willfully failing to comply with any law or regulation. 

  
 Page 2 of 9

 

 
  

 For the purpose of this clause “increased Cost” shall include: 

 

	 	(a)	an additional or increased cost; or 

  

	 	(b)	a reduction in the rate of return from a facility or on the Lender’s [or its Affiliate s) overall capital (including, without limitation, as a result of any
reduction in the rate of return on capital brought about by more capital being required to be allocated by the Lender or one of its Affiliates); or 

  

	 	(c)	a reduction of an amount due and payable to the Lender. 

 which is incurred or suffered by the Lender for performing its obligations and/or commitments and/or making advance pursuant to this sanction letter or any other document executed for availing credit
facility from the Lender. 
  

	5	Conditions Precedent / Subsequent: 

 You may utilize the facilities only after complying with the conditions precedents detailed in Annexure A. to the satisfaction of the Bank. Further, the Borrower agrees to comply with the conditions
subsequent as detailed in the later part of Annexure A after availing credit facilities from the Bank. 
  

	6	Financial / Other covenants: 

  

	 	6.1	You hereby covenant that so long as the facilities or any sum thereunder are outstanding, you shall:- 

 

	 	(i)	from time to time at the Bank’s request forthwith deliver to us such information about your business, assets and financial condition to the Bank;

  

	 	(ii)	furnish to the Bank on a regular basis the following statements on the basis outlined below: 

 

	 	a)	You will furnish on or before the 20th day of each month, details of stocks and Book Debts Outstanding (Age wise) in the prescribed format to NuFuture
Haribhakti Business Services P Ltd., directly at the address given below; Tower C. 9th Floor, 247 Park, L B S Marg. Vikhroli (West), Mumbai 400 083. The value of unpaid stocks (e.g. under LCs/purchased on credit) or slow moving stocks will not
be considered for computation of drawing power. 

  

	 	b)	Loans and Advances to be considered in current assets while calculating Drawing Power. 

 

	 	c)	The outstanding borrowings in the your accounts at all times need to be fully covered by the value of security less the stipulated margin 

 

	 	d)	Inspection of stocks and book debts will be conducted once in a quarter and annual stock and book debt audit by HSME, the CA firm appointed by the Bank. The cost of
inspection is to be borne by the borrower. Inspection charges currently amount to Rs. 14,000/-p.a. plus taxes 

  

	 	e)	Quarterly information report including update on source of funding for losses incurred during the quarter and plan lor the next quarter within 30 days at close of each
quarter 

  

	 	f)	Insurance Policy duly endorsed in Bank’s favour, covering the value of assets, hypothecated / mortgaged to the Bank. 

 

	 	g)	The Borrower shall submit every quarter a statement including the total outstanding secured and unsecured debt (both long term & short terms).

  

	 	(iii)	furnish to the Bank as soon as possible and in any event not later than 180 days after the close of each financial year an originally signed or certified true copy of
your audited balance sheet together with Profit & Loss Account, Auditors’ Report and such other statements/report attached to the balance sheet for the year. 

  
 Page 3 of 9

 

 
  

	 	(iv)	keep the Bank Informed of the happening of any event likely to have substantial effect on its business or profit. 

 

	 	(v)	Network 18 group to remain as the largest shareholder and retain management control in the Borrower Company during the currency of the facility.

  

	 	(vi)	Get our facilities rated by Credit Rating Agency/ies, as approved by the Bank, within a period of three months from the date of acceptance of this Letter with minimum
investment grade rating [backed by corporate guarantee) and to get such rating done annually or at such intervals as may be decided and intimated by us to you. from time to time and maintain minimum investment grade rating through life of loan.

 “Credit Rating Agency” shall mean and refer to the domestic credit rating agencies
such as Credit Analysis and Research Limited. CRISIL Limited. Fitch India Private Limited and ICRA Limited and international credit rating agencies such as Fitch, Moody’s and Standard & Poor’s and such other credit rating agencies
identified and/or recognized by Reserve Bank of India from time to time. 
 In the event your (and/or any of
your security provider’s) credit worthiness deteriorates, in our sole opinion, and/or when your rating (and/or any of your security provider) has been downgraded by the Credit Rating Agency in its report and/or If BLR falls below rating
acceptable to us, then we shall be entitled to unconditionally cancel the facility without any notice to you and upon such cancellation, the outstanding Facility/Loan shall immediately become due and payable irrespective of any agreed maturity and
we shall be entitled to enforce security. 
  

	 	(vii)	Network 18 Media & Investments Limited to maintain Total Debt / TNW of less than 0.5x throughout the tenor of facility 

 

	 	(vii)	adhere to any other covenants stipulated by the Bank from time to time. 

  

	 	(ix)	Allow the Bank to examine the books of accounts of the Borrower and to have its office/factory/godowns/other premises inspected from time to time by officers of the
bank and/or outside consultants. Any expenses incurred by the Bank in this regard will be come by the Borrower. 

  

	 	6.2	Negative Covenant: 

During the currency of the Facility, the Borrower shall not, without prior written intimation to the Bank: 

 

	 	(i)	Effect any charge in the capital structure including proposed equity. 

 During the currency of the Facility, the Borrower shall not, without prior written approval of the Bank: 
  

	 	(ii)	Carry out change of Business. 

  

	 	(iii)	Declare or pay any dividends on any of the equity/preference shares without prior approval of Bank if it fails to meet its obligations to pay interest, principal
installments and/or other monies payable to Bank. 

  

	 	(iv)	Pay any consideration whether by way of commision, brokerage, fees or in any other form to the guarantors for giving their personal / Corporate guarantee.

  

	 	(v)	Create or allow to exist any encumbrance or security over assets specifically charged to the Bank without prior written consent of the Bank; 

  
 Page 4 of 9

 

 
  

	 	(vi)	Undertake or permit any reorganisation, amalgamation, reconstruction, takeover or any other schemes of compromise or arrangement, nor amend any provision of your major
constitutive documents in such a manner that will affect our rights under the Facilities. 

  

	 	(vii)	Induct or allow any person to be inducted who is a Director and the Board of a company which has been identified as a willful defaulter. In the event, if any Director
of the Borrower is associated with any entity which has been declared as willful defaulter, the Borrower shall take expeditious and effective steps for removal of such Directors from its Board of Directors. 

 

	 	(viii)	Make any investment or take assets on lease except in the normal course of business. 

 

	 	(ix)	Enter into borrowing Arrangements, either secured or unsecured, with any other bank or financial institutions. 

 

	 	(x)	Undertake any guarantee obligation on behalf of any other Company (including group companies). 

 

	 	(xi)	Sell, assign, mortgage or otherwise dispose off any of the fixed assets or equity interest charged to the Bank except in the normal course of business.

  

	 	(xii)	Enter into any contractual obligation of long term nature or materially affecting the Borrower financially. 

 

	 	(xiii)	Monies aggregating to Rs. 51.65 crore brought in by the promoters / directors/ associate companies as loans/ share application money pending allotment till March 2012
shall be subordinated to the loans of the Banks, and shall not be repaid during the currency of the loan by the Bank, and may carry such interest as approved by the Bank. 

 

	 	(xiv)	Invest by way of share capital in or lend or advance funds to place deposits with any other concerns, except in normal course of business or as advances to employees.

  

	 	(xv)	Grant Loans to Promoters/associates and other companies. 

  

	 	(xvi)	Make any repayment of the Loans and deposits and discharge other liabilities except those shown in the funds flow statement submitted from time to time.

  

	7	Payment: 

 Each payment
(whether principal, interest or otherwise) under the Facilities will be made when due without any deduction. In immediately available and good funds and in the currency in which the Facilities are outstanding. If you are required by law to deduct
any payment, you shall pay us such further sum to ensure that we received the same amount as if no deduction had been made. If any such payment falls due on a non Business Day, the same shall be paid on the immediately preceding Business Day,
Business days as mentioned in this letter mean any day (excluding Sunday and public holiday) that banks are open for business. 
  

	8	Representations: 

 You
represent to us that (i) you are duly incorporated under the laws of your country of incorporation with the power to enter into and exercise your rights and perform your obligations under the Facilities, (ii) all actions internal or
external required to authorise your execution of this letter and your performance of your obligations under the Facilities have been duly taken and the exercise of your rights and performance of your obligations under the Facilities will neither
contravene any law or regulations to which you are subject nor cause you to be in breach of or default under any agreement/document / Memorandum of Association / Articles of Association binding on you or any of your assets, (ii) your
obligations under the Facilities are legal valid, binding and enforceable against you. (iv) all governmental or other licenses, consents and authorisations requisite for such execution, delivery and performance have been obtained
and are in full force and effect, and (v) each of these representations will remain correct and complied with so long as the Facilities and/or any sum thereunder remain outstanding. 

  
 Page 5 of 9

 

 
  

	9	Cancellation or Termination: 

 During the Availability period or at any time during the currency of the Facility /Loan, without any prior intimation to the Borrower, the lender may, in its sole discretion, cancel the Facilities and to
withhold/stop any disbursement, if any default has occurred or likely to occur or if it becomes unlawful for the Bank to disburse or continue the Facilities to the Borrower or if it will becomes unlawful for you to perform or comply with any of your
obligations under the Facilities. 
 The Borrower unconditionally agrees, undertakes and acknowledges that the Bank has an
unconditional right to cancel the un-utilised portion of the Facility, whether in part or in full, at any time during the currency at the Facility/Loan without any prior intimation for such cancelation to the Borrower. 

Provided always that overdraft and/or other similar types of facility may be terminated by the Bank and shall be repayable immediately
upon notice. 
  

	10	Assignment: 

 The Bank may
assign or transfer any of its rights, benefits and obligations under the Facilities to any third party / parties, in any manner as the Bank deems fit, without any notice to or consent of the Borrower. However, you shall not, without the prior
written consent of the Bank, assign or transfer any of your rights, benefits and obligations under the Facilities. 
  

	11	law: 

 This letter shall
be governed by the laws of India, and the courts of New Delhi shall have non-exclusive jurisdiction over all legal action and proceedings arising under the Facilities. 

 

	12	Disclosure of facilities: 

The Bank is authorised to disclose information relating to the Facilities and/or you to any Bank / Financial institution and / or to the
Reserve Bank of India or any other agency authorised in this behalf by the Reserve Bank of India. 
  

	13	Review Date: 

Notwithstanding the terms herein, the Bank shall have the right to review this Facility and / or any of the terms and conditions thereof
and / or any other documents and / or security relating thereto. The facilities will be reviewed by 29.10.2013. 
 in the
event of there being any inconsistency between the terms and conditions set out herein and set out in security documents then in that case the terms and conditions contained in the security documents shall prevail. The word security documents would
mean all the documents, which are executed in pursuance of the credit facilities granted to you. 
  

	14	Documentation: 

 As
advised by the Bank, including but not limited to documents mentioned in Annexure A of this letter. 
 This Facility sanction letter shall
remain valid and save for the aforesaid additions / amendments / modifications, unchanged, this letter shall form an integral part of previous sanction letter dated April 11, 2012 

  
 Page 6 of 9

 

 
  

 This offer shall be valid for acceptance until one month from the date of sanction. Kindly
confirm to us, by signing on the duplicate copy of this letter, your acceptance of the foregoing terms and conditions and return the same to us so as to be received by us prior to the above date. 

Should you have any query regarding the above terms and conditions, please do not hesitate to contact the right-hand undersigned. 

 

					
	Yours faithfully,	 		 	
			
	FOR THE RATNAKAR BANK LIMITED	 		 	FOR THE RATNAKAR BANK LIMITED
			
	/s/ LOKESH GARG	 		 	/s/ BHARAT RUNGTA
	Authorised Signatory	 		 	Authorised Signatory

 We, TV18 Home Shopping Network Limited confirm acceptance of the above terms and conditions: 

 

			
	 /s/ SACHIN RASTOGI

	Borrower Signature(s) / Company’s stamp
	Title:	 	
	Date:	 	11/Jan/13
	Place:	 	New Delhi

 We confirm acceptance of the above terms and conditions: 
 For Network 18 Media & Investments Limited 
  

	
	 /s/ R.D.S BAWA

	Guarantor Signature(s) / Company’s stamp

 *[Please sign on the preceding pages as well] 

  
 Page 7 of 9

 

 
  

 ANNEXURE A 
 Conditions Precedents 
  

	1.	Execution and submission of the facility / Security Documentation to the satisfaction of the Bank: 

 

	 	•	 	 Accepted facility letter 

  

	 	•	 	 List of those authorized signatories with their specimen signatures attested by the Borrower’s Bankers of the Borrower as well as the Guarantor
Company 

  

	 	•	 	 Certified true copy of the Borrower’s Board Resolution accepting the Facilities and authorizing particular persons to deal with us in connection
with it and execute required documents. 

  

	 	•	 	 Certified true copy of the Guarantor’s Board Resolution providing guarantee for the facilities availed by the borrower company and authorizing
particular persons to deal with us in connection with it and execute required documents. 

  

	 	•	 	 Demand Promissory Note for INR 10,00,00,000/- to be executed (INR ]/- revenue stamp to be affixed) in our prescribed format;

  

	 	•	 	 Letter of Continuity to be executed under the common seal, in terms of the Articles of Association of the Company in our prescribed format;

  

	 	•	 	 Supplemental Credit Facility Agreement to be executed under the common seal, in terms of the Articles of Association of the Company in our prescribed
format: 

  

	 	•	 	 Supplemental Deed of Hypothecation of stocks and book debts, to be executed in our prescribed form under the common seal, on the requisite stamp as
prescribed under the prevailing Stamp Act; 

  

	 	•	 	 General Power of Attorney to be executed in our prescribed form under the common seal, on the requisite stamp as prescribed under the prevailing Stamp
Act (duly notarized with “BEFORE ME” stamp); 

  

	 	•	 	 Supplemental Corporate Guarantee to be executed in our prescribed form, on the requisite stamp as prescribed under the prevailing Stomp Act;

  

	 	•	 	 Undertakings, If any to be executed in our prescribed form under the common seal, on the requisite stamp as prescribed under the prevailing Stamp Act;

  

	 	•	 	 Fax / E-mail Indemnity General Power of Attorney to be executed In our prescribed form under the common seal, on the requisite stamp as prescribed
under the prevailing Stamp Act (duly notarized with “BEFORE ME” stamp]: 

  

	 	•	 	 Due Diligence report duly certified by Company Secretary / Auditor to be furnished in RBI approved format, 

 

	 	•	 	 Board Resolution regarding borrowing power of Public Limited Company under Section 293[1) (d) for Borrower as well as the Guarantor Company

  

	 	•	 	 Post Dated Cheque to be provided along with the declaration stating the purpose of the same. 

 

	 	•	 	 Undertaking from Network 18 Media & Investments Limited that they will ensure positive TNW for HS 18 throughout lenor of facility. INW would
include unsecured promoter loans and share application money planned to be converted to equity 

  

	 	•	 	 Such other documents as we may reasonably consider being relevant. 

  
 Page 8 of 9

 

 
  

 Conditions Subsequent 

 

	1.	Execution and submission of the Facility / Security Documentation to the satisfaction of the Bank: 

 

	 	•	 	 Security for the incremented facility to be created within 30 days from 1st disbursement. 

 

	 	•	 	 Registered form 8 to be submitted within 30 days from the date of Deed of Hypothecation. 

 

	 	•	 	 All sales and expenses of Borrower Company to be routed through current account with RBL. 

 

	 	•	 	 Company TO emponel RBL for opening salary accounts of its employees. Salary accounts of minimum 25% employees to be opened with RBL
within 90 days of 1st disbursement. 

  

	 	•	 	 Such other documents as we may reasonably consider being relevant. 

 

	2.	Other conditions Subsequent 

  

	 	•	 	 The Borrower will place with the Bank all its banking business, including foreign exchange/insurance, if any, and deposits. In case the borrower goes
in for public issue / rights issue our Bank must be given pro-rata merchant banking business failing which the Bank may consider increasing the rate of interest on all funded limits. 

 

	 	•	 	 The borrower hereby undertakes: 

  

	 	•	 	 Not to use the funds for capital market activities or real estate or utilized for meeting capital expenditure or any other long term use or
Subscription to or purchase of shares/debentures or Extending loans to subsidiary companies/associates or for making Inter- corporate deposits or any speculative purposes. 

 

	 	•	 	 The directors / senior executives of the company and /or their relatives are not connected with the bank (RBL) and are not directors in any other bank.

  

	 	•	 	 The company/ its directors are not defaulters with any bank/FI, and there are no legal proceedings initiated or pending against them for recovery of
any borrowings 

  

	 	•	 	 The Borrower shall maintain adequate books and records which should correctly reflect their financial position and operations and it should submit to
the Bank at regular intervals such statements as may be prescribed by the Bank in terms of the RBI / Bank’s instructions issued from time to lime 

  

	 	•	 	 The Borrower shall furnish to the Bank, the position vis-a-vis live outstanding statutory obligations such as income tax, payment of provident fund,
additional emoluments (compulsory deposit), gratuity, electricity dues etc. as and when demanded by the Bank with reasons, if any, for increase from the earlier month and the proposed plan of payments thereof. 

 

	 	•	 	 The Company consents to the Bank’s right to recover the loan / any outstanding through appointment of a private agency as the Bank deems
appropriate. 

  

	 	•	 	 The credit facilities granted will be subject to RBI guidelines /Bank’s policies from time to time. 

  
 Page 9 of 9

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