Document:

Exhibit 10.1

 

 

	anciara•
    -erteret Here for good Date: 27th April 2017 Our Flat 10532566 1 CONFICIENTIAL, Majesco Software and Solutions India Private
    Limited CIN: L17290OGJ2014PTC0131103 HallMark Towers, No. 35(SP), Developed Plot Estate, Guindy, Channel - 600 032 Attention:
    Mr. Kunal Karam Dear Sirs, We Standard Chartered Bank Incorporated in England with limited liability by Royal Charter 1653
    Reference Number ZC18 having its Principal Office In England at 1 Basinghall Avenue, London, EC2V 5DD acting through Its Branch
    office Inter-04a In India at 19, Rajaji Salal. Chennai 600 001 (the 'Bank') are pleased to offer you the facilities (the 'Facilities")
    subject 10 the terms and conditions set out in this facility letter (the 'Facility Letter), the Master Credit Terms (Uncommitted),
    (the 'Agreemenr). Subject to cur right in our absolute discretion to accept the Facility Letter on a later dale, the Facility
    Letter wig lapse by close of business on the date falling 30 Banking Days after the date of the Facility Letter. for and on
    behalf of for and on behalf of Standard Chartered Bank Standard Chartered Bank 19, Rajaji Salal, Channel - 600 001 19, Rajaji
    Salta, Chennal - 600 001 --) Name: Harsha Raheja Nama: Abhlnav Sehgal Title: Relationship Manager Title: Credit Analyst Corporate
    & Institutional Banking / Commercial Banking Corporate & Institutional Banking / Commercial Banking Fl Sijv-,c,i 4.1xy--e
    4 v_r__=1&!,,,, Crascenzo, 3A/F Piot No. C - 38 & 39, G-Block, Bandra Kuria Complex, Mumbai - 400 051. Phone: 91 (0)
    22 2675 789 : 47A, CIF Building, 2nd Floor, DLF Cyber City, Sector 24/25/25A, Gurgaon - 122 002. Phone: 91 (0)124 487 6138/608
    Raheja Towers, 26.27, M.G. Road, Bangalore - 560 001. Phone: 91 (0) BO 2559 9292 Fax: 91 (0)80 2559 9255 : 19, Netair Subhas
    Road, Kolkata - 700 001. Phone: 91 (0) 33 2222 0191/0433 Fax: 91 (0)33 2222 0206 : 19, Rajaii Salai, Chennai - 600 001. Phone:
    91 (0) 44 25,34 9146 Fax: 91 (0) 44 2534 9184 • 6-3-1090, Raj Bhavan Road, Somajiguda,l-tyduabad - 500 082. Phone: 91
    (0)40 2339 7197 Fax: 91 (0) 40 2339 7008 : Athijeat II, Ground Floor, Near Mithakali Six Roads, Ahmedabad - 380 006. Phone:
    91 (0) 79 4007 0886 Fax: 91 (0) 79 4007 0881 soli lid SOMNARE AND SWIMS INDIA PVT, LTD, • 4, 0.) Dive& lAtithaind
    Sightory C' -‘72 • Credit Documentation Unit N Standard Chartered Bank Mumbai :zKolkata hennaj yderabad /Ahmedabad
    Dardard Chatered Sark b Incorporated In Enceand with Itssitrid liablEly by Royal Charter 11153 Relerancei Number ZC 18 The
    Piled* Circe at MO Company is sausied in Enigicid at 7 Elaalrighal Arent*, tracsisci, EC21/ SDO Mao:lard Chatered Bank is
    auacrised by !ha Prudential Regulation Authority end regulated by the Pinierided Condtc-t ilailicosity and Pnicianiial Rectiteli:n
    Autrot 4.

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India We accept your offer to make available to us each Rackity described in the Agreement and
    agree to be bound by the terms of the Agreement for and on behalf of Mapieta Software and Solutions India Private Limited
    11"- V 4 Name: P Me: J14/W91-4Te nett))))) Nit ge_cA I j v." s v.) A Pursuant to the Resolution of Its Boarp ofi.DIrectors
    c"- passed In their meeting held on RN 4(11T., the Common < Seal of Majesco Software and Solutions India Private Limited
    has been affixed In the presence of Director/s of the LArirg1041/0- 4c14X Majesco Software and Solutions India Private Limited,
    who hasfhave In '<token thereof signed this Facility Letter 4914—V Place: alkiani W 4 Date: q/ch. 1. Borrower(s)
    1.1 The entities listed in column (1) of the table below will be referred to as the 'Borrowers' and each a 'Borrower'. 1,2
    Each Borrower will enter or accede to the Agreement. fm JEICO SWORE AND SOLUTIONS INDIA PITT LTD. fvf—e—r1-4_
    Dint lAuborised Signaler? (1 Name of company-and company/ registration number Majesco Software and Solutions India Privet-Limited
    CIN: U729006J2014PTC0131103 India MNDC P-136 Millenium Business Park Mahepe Nevi Mumbal, Maharashtra 400710 (2 Jurisdiction
    of incorporatio

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India 2. Facilities 2,1 General Banking Facilities (a) Designated Facility Limits and Designated
    Sub-limits) (2) Type( of FacIlr 1. Export Invoice Financing Facility Fac li imit(s)Borrowers) INR 200.000,000/- Unit Type:
    Outer and Sutelimit(s), applicable Majesco Software end Solutions India Private United la. Overdraft Facility (INR 20000,000/-)
    Limit Type: Inner Majesco Software and Solutions India Private Limited lb. Overdraft Facility (INR 10,000,0001-) Limit Type:
    Inner Majesco Software and Solutions India Private Limited lc. Short term loans Facility (INR 20,000,000/-) Limit Type: Inner
    Majesco Software end Solutions India Private Limited Id. Bands Guarantees (INR 40,000,0001-) Limit Type: Inner Majesco Software
    end Solutions India Private Limited to. Pre shipment Financing Under Export Orders Facility (INR 200,000,6000 Limit Type:
    Inner Majesco Software and Solutions India Private Limited Total Facility Limits INR 200,000,000/- (a) Designated Combined
    Facility Limits 3. Pricing and Conditions Any reference to a Borrower under this section Is a reference to each Borrower of
    the relevant Facility specified in Clause 2 (Facilities) of the Facility Letter klAECO SOFTWARE AND SOLUTIONS MIA KM. NicoAP
    Rector; Authorised Signatory Type(s) of Feel); signated Cornb d FacilltY Lind Combined facility 1 and its sub limits INR 200,000,000/-
    sand conditions Currency. INR purprtert: For financing the Borrowers sale of goods to its buyer. es evidenced by the Borrower's
    Invoice to the buyer Tenor: Maximum up to 90 days I erest. MCLR plus applicable Margin. Interest to accrue from the utilisation
    date to the date of repayment or prepayment of that utilisation.. Margin: As may be agreed with the Bank at the time of drawdown.
    Applicable Benchmark: As agreed with the Bank at the time of drawdown In accordance with th below: Tenor MCLR to be used Up
    to 89 days 90 — 179 days 1 month MCLR 3 months MCLR 180 — 364 days (12 months 6 months MCLR

 

    	 

    	 

    

 

 

	Type(s)
    of Facile Export Invoice Financing Facility condilioris aCI MCLR as on date of disbursement shall apply until repayment. Specific
    Terms and Conditions: • Security - First Pad Passu Charge over the current assets. • Payment of invoice on due date
    can be recovered by debiting customer account. • Document: Original Invoice 0.ffkor Conditions (applicable for all limits):
    • The Borrower to route quarterly collectionstpayments/Irrvestments through Standard Chartered Bank In proportion to
    Standard Chartered Bank share In working capital limits of MSSIPL • Related party transactions for export invoice financing
    not allowed. 1a. Overdraft Facility Currency: INA Purpose: For the purpose of working capital Tenor Maximum up to 1 day Applicable
    Benchmark 1 month MCLR MCLR Reset Fleouencr. Monthly (as on date of publication on Bank's website). MCLR as on date of disbursement
    shall apply until reset. Interest MCLR plus applicable Margin Interest shall accrue from the date of draw down up to the respective
    due dates, payable monthly in arrears. Specific Terms and Conditions: • Security: First Pari passu charge over current
    assets • Facilityl a, lb and lc ea INFI 20,000,000/-. • Repayment through operating cash flows. Currency: INR Purpose:
    For the purpose of working capital Tenor: Maximum up to I day Arolicatde Benchmark', i month MCLR MCLR Reset Frequency: Monthly
    (as on date of publication on Bank's website). MCLR as on date of disbursement shall apply until reset. Interest MCLA plus
    applicable Margin Interest shall accrue from the date of draw down up to the respective due dates, payable monthly In arrears.
    lb. Overdraft Facility FCE PAJEKA SOFTWARE AND SOLUTIONS INDIA PVT. LTD, Directs I Auktisivi Signatory r)

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India Sneciffc Terms and Conditions: • The limit to be utilised for funding transactions
    with Medium, Smell & Micro Enterprises • Facilityl a, lb and lc <=1NR 20,000.000/-. • Repayment through operating
    cash flows. lc. Short term loans Facility Currency INR Purport: For the purpose of working capital Tenor: Maximum up to 90
    days interact MCLR plus applicable Margin for all utilise-lions under this Facility payable on the last day of each Month
    of the Term. Interest shall be calculated from the utilisation date to the data of repayment or prepayment of that utilisation
    Applicable Benchmark As agreed with the Bank at the time of drawdown in accordance with the below: Tenor MCLR to be used Up
    to 89 days 1 month MCLR 90 — 179 days 3 months MCLR 180 — 364 days (12 months 8 months MCLR MCLR as on date of
    disbursement shall apply until repayment. Specific Terme and Conditiont: • Working capital demand loan (VVCDL): For working
    capital purpose • Security First Pad passu charge over current assets • Facilityl a, lb and lc a INR 20,000.0001-.
    • Repayment through operating cash flows ld. Bonds and Guarantees Currency: INR Purpose: Issuance of guarantees ('Guarantees')
    Terror: Maximum up to 3 years. Commissions: As agreed with the bank from time to time Specific Terms and Conditions: •
    Security: First Pad passu charge over current assets. Is, Pre shipment Financing Under Currency: INR Export Orders Facility
    Purpose: Pre-shipment financing covering the purchase of raw material, prrrnssing , packing, transportation, warehousing and
    other expenses and overheads Incurred by the Borrower to ready gnrde for sale. Tenor Maximum up to 90 days

 

    	 

    	 

    

 

 

	icilii.EXO
    SOMME AND SOLUTIONS MA PVT. LTD. \k,tuiilt, MEW /Authorised Signatory rid COndition 4. Fees The Bank reserves the right to
    levy the following penal charges on the occurrence of any of the following events: Fe IKESCO SOFTWARE AND SOLUDOIIS NIA PVT.
    LTD. \IA-4"-frit Not !Authorised Signatory end conditions Interest MCLR plus applicable Margin. Interest to accrue from
    the utilisation date to the date of repayment or prepayment of that utilisation.. Applicable Benchmark. As agreed with the
    Bank at the time of drawdown in accordance with th below Tenor MCLR to be used Up to 89 days 1 month MCLR 90 — 179 days
    3 months MCLR 180 — 364 days (12 months 6 months MCLR MCLR es on date of disbursement shell apply until repayment. Specific
    Terms and Condition?: • Pre shipment finance can be granted against purchase of trade related merchandise upto 100% of
    Freight on Board value of exports /deemed exports. • Multicurrency funding allowed under this facility. • Repayment:
    Lodgement of Stifles or STPI certificate or other Transaction level documents applicable In case of Software exports/ RemIttances
    of customer, Continuing Conditions • Running Pre-shipment credit granted for 100% of the Freight on Board value of export
    orders. • To be disbursed on the basis of customer request or Customer Undertaking or Contract Copy or any other document
    acceptable to the bank. • Disbursal as per RBI guidelines • Copy of Invoice/Order/Contract/Bill to be submitted
    within 30 days of disbursement of Packing Credit. INR amuse/. payable on the date of the Agreement, and any other handling
    fee to be agreed and payable on each anniversary of the date of the Agreement as long as any Facility remains available to
    a Borrower or the Bank has any claim, actual or contingent, against a Borrower in respect of any Facility. Fee: 1. Delay /
    non submission of stock and hook-debt statements 2. Delay/ non submission of renewed / additional Insurance cover on security
    3. Delay / non submission of documents required for security perfection 4. Delay / non submission of details on Unhedged Foreign
    Currency Exposure (UFCE) (quarterly as well as annual audited) 5. 6. Breech of Covenants Penalty of INR 100,000/• per
    Instance (submission beyond 30th day of the succeeding month or agreed timelines) Penalty of INR 25,000/• per instance
    from the date of expiry of the Insurance policy (where cover note has not been provided) or shortfall In cover. Penalty of
    1% p.a. on the sanctioned facility amount wef the date of expiry of the mutually agreed time till such the time the security
    is perfected Penalty equivalent to the capital provisioning requirec(submIsslon of quarterly details beyond 90th day from
    end of previous quarter) Penalty of 1% of the amount outstanding at the end of the month in which the covenant breach is advised
    to or identified by the bank, under the facility In respect of which such breach has occurred.

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India The right of the Bank to claim penally as mentioned above is discretionary and the Bank
    reserves the right to add any other event/ charges which (In Its opinion) it considers necessary. It shall be an obligation
    on the Borrower to pay the penal charges to the Bank on the occurrence of any such event. Further. It should be noted that
    the levy of the above penalty shall not construe condonation or waiver by the Bank of the related delays / breaches, and shall
    not preclude the bank from exercising any of It's rights as a lender, including those set out In it's Banking Facility Letter."
    5. Market Disruption 6. Contact Details 6.1 Contact details for the Bank 6.2 Contact details for the Designated Borrower end
    the other Borrowers H a Market Disruption Event occurs, the rate of Interest of that Facility will be the rate per annum which
    is the aggregate of: the margin of that Facility as specified in Clause 3 (Pricing and Conditions) of the Facility Letter
    or otherwise agreed between the Bank and the relevant Borrower; and (b) the rate which expresses as a percentage rate per
    annum of the Bank's cost of funding that utilisation from whatever source the Bank may reasonably select, and If any such
    percentage rate Is below zero then such percentage rate shall be deemed to be zero. 'Market Disruption Event' means: (a) at
    or about noon on the Quotation Day the Screen Rate Is not available or is zero or negative, or reasonable and adequate means
    do not exist for ascertaining LIBOR or any other interbank offered rate ('IBOR') or benchmark interest rate the Prime Rate
    (as the case may be); (h) matching deposits are not readily available In the relevant Interbank market; or (b) before close
    of business In the principal city of the relevant interbank market on the Quotation Day, the cost to the Bank of obtaining
    matching deposits in the relevant Interbank market would be in excess of LIBOR or any other IBOR or benchmark Interest rate
    / the Prime Rate (as the case may be). 'Quotation Day' means for any period for which an interest rate Is to be determined
    two Banking Days before the first day of that period (as the case may be), or such other period which the Bank decides accords
    with market practice In the relevant interbank market. 'Screen Rate' means the standard market interest rate for the relevant
    currency and period displayed on the relevant page of the online electronic information service which for the time being the
    Bank normally uses for obtaining LIBOR or any other IBOR or benchmark interest rate / the Prime Rale (as the case may be).
    (a) (Option 1) Execution of bank documents Banking arrangements Mr. R. Nagasubramenien, Manager. Credit Ris Control Mr. Abhinav
    Sehgal 044-25349038/ Ramachandran,NagesubramanIen eisc con +91 44 30449376 Abhinay.sehgal@sc.com Clueries Majesco Software
    and Solutions India Private Limited HallMark Towers, No. 35(SP), Developed Plot Estate, Guindy. Chennal - 600 032 Fe 11013:0
    SOFTWAREARDSOLUTIONSINDIAPVI LID. \14.4,j-et Dia !Authorised Sigulory

 

    	 

    	 

    

 

 

	7.
    Liability The Principal Borrower will be liable as a primary debtor to the Bank for all sums payable or owing under the Facilities
    (whether it is Incurred directly by the Principal Borrower or not). 7. Definitions 8.1 In the Agreement, unless the context
    otherwise requires: "Approved Security" I. or time. means for ! the following: Facility Limit : - Ranking of charge
    and - Description of security (including lender/chargeo)-or Guarantees- Part Passu Charge over the current assets of the company
    Maximum amoOnt Secured-- INR 200,000,000/- (Covering all facilities) Obligor Majesco Software and Solutions India Private
    Limited such IINR Fixed Deposits from Majesco Ltd equivalent to 25% of the limits disbursed to be obtained 200,000,000/- (Covering
    ail facilities) Majesco Ltd other securities as advised in writing by the Borrower and approved In witting by the Bank tram
    lime to "Banking Day" means a day (other than a Saturday or Sunday) on which banks are open for general business
    In Chennal "Conditions Precedent" means the following documents and evidence (both in form and substance) satisfactory
    to the Bank: (a) certified copies of each Borrower's constitutional documents; (b) certified copy of the board resolution
    of each Borrower approving the acceptance of each Finance Document (or the equivalent document evidencing such approval available
    In the relevant jurisdiction) and a certified copy of the names and specimen signatures of alt persons authorised to sign
    the Finance Documents and any notices arid other documents required in connection with the Finance Documents; (c} each of
    the Finance Documents duly executed by the parties thereto; (d) any documentation or other evidence which is reasonably requested
    by It for the purpose of any 'know your customer' requirements; (e) Accepted Banking Facility Letter (f) Resolution Ws 180
    1(c) along wtth auditors certificate(If applicable) (g) Demand Promissory Note for INR 200,000,000/- (h) (i) Letter of Continuity
    for DP Note for INR 200,000,000/- (j) (1) Bank Guarantee Indemnity for INR 40,000,000/- (j) Packing Credit Undertaking cum
    indemnity for INR 200,000,000/- (k) (l) Post-shipment Undertaking cum Indemnity for INR 200,000,000/- (m) (1) Certified true
    copy of the Constitutional document of Majesco Ltd (j) Board Resolution from Majesco Ltd. "Default Rate" means 2
    per cent per annum over and above applicable, or such rate as advised by the Bank to the Borrower from time to time. "Foreign
    Currency" means any currency other than the Local Currency. "General Trade Terms" means the terms and conditions
    applicable from lime to time to the Bank's provision of trade finance services to each Borrower. "Jurisdiction"
    India Fa ALTO MIME AND SOLUDOWS CIA PVT. LTD, nimbi Authorisod Signatory

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) - India "Large Cash Withdrawal Threshold Amount' means INR 500,000/- "Master Credit Terms (Uncommitted)*
    means the standard credit terms and conditions applicable from time to time for the Bank's provision of any uncommitted and
    on-demand credit facility to each Borrower. "MCLR" means Marginal Cost of Funds based Lending Rate. "Parent"
    Not Applicable "Principal Borrower" (see Clause 8.2 of the Facility Letter) will be Majesco Software and Solutions
    India Private Limited 'Security Documents" the In a means form Bank respect each of the documents given or to be given
    by any Borrower and any other document creating or granting any Security of the obligations of all or any of the Borrowers
    under the and substance satisfactory to the Bank; Description.- Unattested Memorandum of Hypothecation Agreement Identified
    below Interest in favour Finance Documents, Majesco Software Solutions India Limited ,Obligor in favour of of the Bank each
    in and Private Pari-passu letters from existing charge holders Majesco Software and Solutions India Private Limited ROC Search
    Report Majesco Software and Solutions India Private Limited CHO 1 Majesco Software and Solutions India Private Limited Majesco
    Ud Certificate of Registration Majesco Software and Solutions India Private Limited Majesco Ltd CERSAI Majesco Software and
    Solutions India Private Limited Letter of Set-off Majesco Ltd "Standard Terms' means the terms and conditions applicable
    from time to time to the Bank's provision of wholesale banking services to each Borrower. "Spot Rate" means at any
    date the Bank's spot rate of exchange for the purchase of the relevant currency In the India foreign exchange market at around
    11:00 am India time using the Local Currency for the relevant Facility. "Trade Service Supplement" means each of
    the following: (a) the export financing trade service supplement; (b) the Import financing trade service supplement; (c) the
    issuance of LC or back-to-back LC trade service supplement: (d) the SBLC or guarantee issuance trade service supplement; (a)
    the transfer of LC trade service supplement; (I) the shipping guarantee trade service supplement (g) the Doc Prep trade service
    supplement

 

    	 

    	 

    

 

 

	ForkteCO
    SOFTWOREMDSOLUTIONS INDIA PY1. LTD. e-vr-emts Vtuast Director lAuktioad Sigatory 9. Additional Conditions Additional rept
    atIons, Clause 4 0 h st r Cred Terms (Uncommitted Governing law and enforcement (a) The choice of governing law of each Finance
    Document will be recognised and enforced in the relevant Obligors jurisdiction o Incorporation, (b) Any judgment obtained
    In the courts which the parties to a Finance Document have conferred jurisdiction on to settle disputes Ir relation to that
    Finance Document will be recognised and enforced In the relevant Obligors jurisdiction of Incorporation. 9 Additionatundertaklage,
    Clause the Maste Credit,Terma Uncommitted); Security cover: Each Borrower must at all times comply with the security cover
    ratios specified in the Facility Letter or as notified by the Bank to the Borrower(s) from time to time, If any of the security
    cover ratios at any time falls below the required level, the relevant Borrower must provide additional security acceptable
    to the Bank and/or reduce the relevant outstanding In order to comply with the relevant requirements within the time limit
    Imposed by the Bank from time to time. (b) Regulatory disclosure — CIBIL- By acceptance of this Facility Letter, each
    Borrower hereby affirms that the Credit Information Bureau (India) Limited and/or any other agency so authorised by the Reserve
    Bark of India, may use and process the said information and data disclosed by the Bank to them, in the manner as deemed fit
    by Credit Information Bureau (India) Limited and/or such agency. Further, Each Borrower also confirms and permits the Credit
    Information Bureau (India) Limited and/or any other agency so authorised to furnish for consideration the processed Information
    and data or product thereof prepared by them to the banks/financial Institutions and/or any other credit grantors or registered
    users as may be specified by the Reserve Bank of India In this behalf. (c) The Borrower agrees that, In accordance with the
    provisions of the Reserve Bank of Indle circular on "Framework for Revitalising Distressed Assets In the Economy —
    Guidelines on Joint Lenders Forum and Corrective Action Plan", the Bank shall be entitled to identify Incipient stress
    in any Borrowers accounts held with it and pursuant thereto, create different sub categories of such accounts. The Borrower
    agrees that the Bank shall report credit Information of such Borrowers who have an aggregate fund based and non fund based
    exposure above the limit as so specified by the Reserve Bank of India, from time to time, to the Central Repository of Information
    on Large Credits (TALC). The Borrower also affirms that the Bank shall be entitled to refer accounts having an aggregate exposure
    above the prescribed parameters to the Joint Lenders Forum ('JLF"), to be set up in accordance with the provisions as
    so prescribed by the Reserve Bark of India, in order that the JLF can explore the possibility of suggesting a Corrective action
    Plan ("CAP") for such accounts. The Borrower agrees that it shell be bound to comply with the solutions that are
    set out by JLF, including the option of rectification, restructuring, recovery or any other action as so suggested by JLF.
    (d) The Borrower agrees that the Bank shell receive details of the "Unhedged Foreign Currency Exposure" of the Customer,
    es prescribed by the Reserve Bank of India and the Bank, from time to time, (I) In such form and manner (ii) at such Intervals
    and (ill) to be calculated on the basis of such parameters as so communicated by the Bank from time to time (e) With a view
    to monitoring the and-use of funds, In the event the Bank desires a specific certification from the Borrowers' auditors regarding
    diversion / siphoning of funds by the Borrower, the Bank shall have the right to award a separate mandate to the Borrowers
    auditors for this purpose. The cost of such audit shall be to the Borrowers account. 0) The Borrower agrees that, in accordance
    with the provisions of the RBI circular dated June 5, 2015 on 'Strategic Debt Restructuring Scheme" (as amended from
    time to time) ("SDR Scheme"), each Lender shall be entitled to convert their outstanding Secured Obligations into
    fully paid up equity shares of the Borrower at a price and on terms in accordance with the SDR Scheme. The Borrower also affirms
    to forthwith take all actions, Including procuring necessary corporate and shareholders authorisations as may be required
    for the purpose of implementing the SDR Scheme. The Borrowers shall take all actions necessary Including obtaining any Authorisations
    and approvals from its Board or any Government Agency for such conversion, If any. 9 Util sa on-Specific Conditions Precedent",
    Clause 2.2 (c) of the Master Credit Term uncommitted) If so required by the Bank and/ o under applicable law and regulation,
    the Borrower shall forthwith provide to the Bank, and within such time period as the Bank may specify/ require: Q) Copies/
    certified true copies of or if the Bank so requires, summaries of the commercial Invoices to be financed by the Bank ( the
    original Invoices to be financed by the Bank being referred to as 'Invoices' and the summaries of the Invoices, being referred
    to as "Invoice Summaries'), in such form as the Bank may specify; (11) If applicable, copies/ certified true copies of
    , or if the Bank so requires, summaries of the proforma Invoices or purchase orders (the original proforma invoice(s), and/
    or purchase order(s) to be financed by the Bank, being referred to as "Proforma Invoice(s)' and the summaries of the
    Proforma Invoice(s) being referred to as 'Profane Invoice Summaries") in such form as the Bank as may specify; Qil) Copies/
    certified true copies of/ reasonable evidence of delivery of the goods/ services which are the subject of any involca(s) or
    Proforma invoice(s) (such evidence/copies being referred to collectively as "Transport Documents"); RI WESCO SOFTWARE
    AND SOLUTIONS INDIA PVT. LTD. DirectorlAullonsed Signatory

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India FtilikEt0 SOFT ARE AND SC/LIMAS INDIA PVILTD, Oita; I hiSorisod *story (iv) For audit /inspection
    by the Bank, the originals of the Invoice(s), Proforma Invoice(s), and of the Transport Document(s); (v) Other confirmations,
    declarations and undertakings as may be required under applicable law and regulation in relation to the Facility, and In such
    form as the Bank may specify from time to time, Including but not limited to undertakings In the Bank's favour, If necessary,
    certifying that no financing has been sought by the Borrower on the basis of/ reliance on the Trade Documents (defined herelnbelow),
    from any other banks' or financial institutions. (the Invoices, Summaries, Proforma Involce(s), Proforma Summaries and the
    Transport Documents being collectively referred to as `Trade Documents')" It is clarified that Customer's covenants and
    undertakings In sub-clauses 9.4 and 9.5 above are continuing covenants and the Customer represents that the same are and shell
    be true on each date of presentment of the Invoices. 9 Cl5Uses,to be added, Clause 16.3 of the Master Credit Terms (Unco ted)
    Utilisation If the Borrower wishes to utilise a Facility, the Borrower (i) shall deliver to the Bank a duly completed and
    signed utilisation request (in a form and through means acceptable to the Bank) as per annexed format; and (11) must satisfy
    the requirements set out in the Agreement as applicable to that Facility. (b) Interest for Facility drawn In Indian Rupee.
    (I) Interest: The Customer shall pay commission, Interest and other charges to the Bank In relation to the Facility as may
    be notified by the Bank from time to time. (11) The Interest Rate for the Facility shall be calculated with reference to the
    MCLR. The Interest Rate shall comprise of the MCLR plus Margin (as may be agreed with the Bank from time to time). The MCLR
    shall be posted on Bank's website www.standardchartered.coln. (Ili) The MCLR may be reviewed by the Bank at Intervals as stipulated
    by Reserve Bank of India or as per its intemal policy and any change in the MCLR shall be notified by the Bank through its
    website, account statements or its branches or such other medium as the Bank may consider appropriate. (iv) In case the working
    capital demand loan ("WCDL") or term loan ("farm Loan') is to be drawn down In trenches, then the applicable
    interest Rate payable on (I) each trencher amount of WCDL or (11) Term Loan drawn down will be notified through account statements
    to be sent to the Customer or advised in writing by the Bank to the Customer on the date of drawdown of the respective tranche.
    The Interest Rate for the respective tranche will remain unchanged for the tenor of the respective tranche, irrespective of
    any change in the MCLR during that period. (v) In case of overdrafts, the applicable Interest Rate will be notified through
    account statements to be sent to the Customer or advised in writing to the Customer from time to time. The Interest Rate shell
    be subject to variation from time to time. The Interest rate will be based on the Bank's MCLR on the date of overdrawing and
    the applicable margin. (vi) Interest will be debited monthly and If unpaid, capitalized to the outstanding principal amount
    then outstanding. Interest will accrue on a dairy basis end be calculated on the basis of 365 days a year or as may be advised
    by the Bank to the Customer. (c) Interest (for Facility drawn down in currency other than Indian rupees): (1) Calculation
    of Interest: The rate of Interest will comprise of margin and LIBOR. (II) LIBOR in respect of a particular period and In relation
    to Utilisation made under the Facility In respect of which an Interest rate is to be determined pursuant to the Facility Agreement,
    means: (A) the percentage rate per annum for deposits for the relevant currency and Term displayed on the appropriate page
    of the Reuters screen selected by the Bank (or such other page(s) as the Bank shall nominate instead for the purpose of displaying
    offered rates of leading banks for London inter-bank deposits in the relevant currency as aforesaid) et or about 11,00 am,
    en the applicable Rate Axing Day; or (B) II a Market Disruption Event has occurred, the rate determined by the Bank on the
    basis of any other price source the Bank considers appropriate. (d) Other Services As long as any sum remains owing under
    any Facility, if the Customer wishes to engage any person to provide transaction banking products and services including cash
    management services, trade services, trade finance, custodial services, fund administration and escrow services (Services").
    the Customer shall enter Into good faith negotiations end shall give the Bank or its affiliate the right of first refusal
    to provide such Service to the Customer. The Services shall be offered by the Bank at competitive rates prevailing in the
    market at that time and shall be subject to terms and conditions to be mutually agreed between the nigtomer and the Bank,
    Provided that the foregoing shall not be deemed as a waiver by the Customer of its rights or restriction on the Customer Clauses
    to be deleterJ, Clause 16.3 oft Not Applicable dit Terms (Uncommitted

 

    	 

    	 

    

 

 

	Facility
    Letter (Uncommitted) — India to access the market or any other bank, financial Institution or service provider In respect
    of the said Services. (e) Multiple Banking Arrangement The Facilities are available only In multiple banking with other banks
    as per the multiple banking arrangements agreed upon between the Customer end the various banks under the multiple banking
    arrangement. The Bank reserves the right to cancel or withdraw the Facility at its own discretion In case the facilities or
    any part thereof is/ ere cancelled or withdrawn by any other bank(s) In the multiple banking arrangement. Clauses to be amended,
    Clauselt3 of the Ma"ster,Credit>Ti Not Applicable rr s (Uncom ANNEX to FACILITY Lb I t ER — Utlisation Request
    format riESE111311=111 ForilkEt0 SOFTWARE AID SOLUTIONS NDIAPVT.LTD. La—t. DIractoribtalisiSignatoqExhibit 10.2

 

 

INDIA FIVE HUNDRED RUPEES Rs. 500:, INDIA NON JUDICIAL - TAMILNADU
AL 897639 “This stamp paper is to be read with (Mast9r Credit Terms / Letter of continuity for DR note packing credit undertaking,
etc. dates 27/04/2017 executed by Majesco Software and Solutions India Pvt Ltd. in favour of Standard Chartered Bank For MASCO
SOFTWARE AND SOLUTONS INDIA PVT, LTD 

    	 

    	 

    

 

 

Standard chartered Mater credit Terms (Uncommitted) India These
are the Master Credit Terms (Uncommitted) referred to and incorporated in the Agreement between the Bank and each Borrower. IT
Is AGREED: 1. DEFINITIONS AND INTERPRETATIONS 1.1 Definitions: Terms defined in the Facility Letter (and not otherwise defined
herein) will have the same meaning when used in these Master Credit Terms (Uncommitted): "Adverse Effect" means an adverse
effect in the sole opinion of the Bank on: (a) the condition (financial or otherwise), assets, operations, prospects or business
of any Obligor or the Group (taken as a whole); (b) the ability of any Obligor to perform its obligations under the Finance Documents;
(c) the validity. legality or enforceability of, or the rights or remedies of the Bank under any Finance Documents; or the validity,
legality or enforceability of any Security Interest created / to be created in respect of a Facility / under any Finance Document
or on the priority or ranking of such Security Interest. "Affiliate" means, in relation to a person: (a) any of its
Subsidiaries; (b) any of its Holding Companies; or (c) any other Subsidiary of any such Holding Company, including head offices
and branches of the above. "Authority" means any government, quasi-government, administrative, regulatory or supervisory
body or authority, court or tribunal. "Break Costs" means a net loss of interest revenue the Bank incurs when all or
any part of any utilisation is repaid on a day which is not the last day of a Term for that utilisation. "Control" and
"Controlled" means: (a) the power (whether by way of ownership of shares, proxy, contract, agency or otherwise) to direct
its management and policies or to control the composition of its board of directors or equivalent body; or (b) ownership of more
than 50% of the voting share capital or equivalent right of ownership of that person. "Default" means: (a) an Event
of Default; or (b) an event or circumstance which would (with the expiry of a grace period, giving of notice or the making of
any determination under the Finance Document or any combination of them) be an Event of Default. "Designated Combined Facility
Limits" means (if specified) the amount designated as the combined facility limit for the Facilities specified opposite those
Facilities in column (2) of the table in Clause 2.1(b) (Designated Combined Facility Limits) of the Facility Letter. "Designated
Facility Limits" means the amount designated as the facility limit against a Facility specified opposite that Facility in
column (2) of the table in Clause 2.1(a) (Designated Facility Limits and Designated Sub-limits) of the Facility Letter. "Designated
Sub-limits" means (if specified) the amount as designated as the sub-limit against a Borrower in column (3) of the table
set out in Clause 2.1(a) (Designated Facility Limits and Designated Sub-limits) of the Facility Letter. "Event of Default"
means any event specified in Clause 11.1 and in any other Finance Document. "Facility" means each facility set out in
Clause 2 (Facilities) of the Facility Letter. "Finance Document" means the Agreement, any Security Documents, any document
identified as such in the Facility Letter and any other document designated as such by the Bank and any Group member from time
to time. "Financial Indebtedness" means any indebtedness incurred for or in respect of: (a) monies borrowed; (b) any
amount raised under any other transaction (however structured) having the commercial effect of a borrowing; and (c) the amount
of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) and (b) above. "Financial
Statements" means: (a) for the Parent, the audited consolidated financial statements of the Group for each of its financial
years; and (b) for each Obligor other than the Parent, its audited financial statements for each of its financial years. "Group"
means the Parent and its Subsidiaries. "Holding Company" means, in relation to a person, any other person in respect
of which the first named person is a Subsidiary. "Increased Cost" means: (a) an additional or increased cost; (b) a
reduction in the rate of return from a Facility or on the Bank's (or its Affiliate's) overall capital; or (c) a reduction of an
amount due and payable under any Finance Document, which is incurred or suffered by the Bank or any of its Affiliates but only
to the extent attributable to the Bank having entered into any Finance Document or funding or performing its obligations under
any Finance Document. "Local Currency" means for each Facility, the currency in which the Designated Facility Limits
of that Facility is denominated as specified in Clause 2 (Facilities) of the Facility Letter. "Local Currency Amount"
means the amount specified in the utilisation request (or, if the amount requested is not denominated in the Local Currency for
the relevant Facility). that amount converted into that Local Currency at the Spot Rate adjusted to reflect any repayment, prepayment,
consolidation or division of the utilisation, "Obligor" means each Borrower and any person providing a guarantee of
and/or Security Interest for the obligations of any Borrower and/or any other Obligor under the Finance Documents. "Party"
means a party to the Agreement. "Personal Information" includes each Obligor's name, address, taxpayer identification
number, other form of identification and that of each Obligor's direct or indirect Standard 

    	 

    	 

    

 

 

beneficial owners, beneficiaries, controlling persons or their
respective Relevant Data Subjects. "Prime Rate" means the interest rate, however it is called, published by the Bank
from time to time as the minimum rate of interest at which it will lend money to prime borrowers. "Relevant Data Subject"
means any person: (a) named in or who executes any Finance Document or any other forms submitted by a Borrower to the Bank; (b)
who is a director or officer of an Obligor; or (c) as specified by the Bank. "Restricted Party" means a person with
whom a national of the United States or Member State of the European Union would be prohibited or restricted by law from transacting.
"Sanctions" means the economic sanctions laws. regulations, embargoes or restrictive measures imposed by the governments
of the United States, the European Union or any of its Member States. "Security Interest" means a mortgage, charge,
pledge, lien, hypothecation, security assignment or other security interest securing any obligation of any person or any other
agreement or arrangement having a similar effect. "Subsidiary" means in relation to a person, any other person: (a)
which is Controlled, directly or indirectly, by the first named person; (b) more than half the issued share capital of which is
beneficially owned, directly or indirectly, by the first named person; or (c) which is a Subsidiary of another Subsidiary of the
first named person. "Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including
any related penalty, interest payable, fine, surcharge or the payment in or in respect thereof) present or future as required
by law. 1.2 Interpretation (a) Any reference in the Agreement to: (i) an "amendment" includes a supplement, variation,
novation, restatement or re-enactment and "amended" will be construed accordingly: (ii) a "disposal" means
a sale, transfer, grant, lease or other disposal, whether voluntary or involuntary and "dispose" will be construed accordingly;
(iii) an "authorisation" includes an authorisation, consent, approval, resolution, licence, exemption, filing, registration
or notarisation; (iv) "indebtedness" includes any obligation (whether incurred as principal or as surety) for the payment
or repayment of money: (v) a "law" includes (A) any agreement with any Authority; and (B) any law, regulation. rule.
official directive, request, guideline, sanction, embargo or restrictive measure (whether or not having the force of law) of any
Authority and any interpretation, application or enforcement of such law; (vi) any statute or any section of any statute will
be deemed to include reference to any statutory modification or re-enactment of it for the time being in force; (vii) a "Finance
Document" or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as
amended, including any increase in the amount of a facility or for an additional facility; (viii) a currency is to the lawful
currency for the time being of the relevant country; (i) a "month" is to a period starting on one day in a calendar
month and ending on the numerically corresponding day in the next calendar month. If there is no numerically corresponding day
in the following month, that period will end on the last Banking Day in that calendar month: (ii) a "person" includes
any individual, company, Hindu undivided family, corporation, unincorporated association or body (including a partnership, limited
liability partnership, trust, joint venture or consortium), government. state. agency, organisation or other entity whether or
not having separate legal personality and its and any subsequent successors in title, heirs, permitted transferees and permitted
assigns, in each case in accordance with their respective interests; and (iii) "information" includes Personal Information.
(b) Words denoting the singular will include the plural and vice versa. (c) A reference to a party or a person will be construed
as including its and any subsequent successors in title, permitted transferees and permitted assigns, in each case in accordance
with their respective interests. (d) A Borrower providing "cash cover' for a Facility means that Borrower paying an amount
in the currency of that Facility to an interest-bearing account in the name of that Borrower and: (i) the account is with the
Bank; (ii) withdrawals from the account may only be made to pay the Bank amounts due and payable to it under that Facility until
no amount is or may be outstanding under that Facility; and (i) that Borrower has executed a Security Document, in form and substance
satisfactory to the Bank. creating a first ranking Security Interest over that account. (e) If there is any inconsistency between:
(i) the Facility Letter and the Master Credit Terms (Uncommitted), the former will prevail. (ii) the Facility Letter or the Master
Credit Terms (Uncommitted) and the Standard Terms, the General Trade Terms, the Trade Service Supplements, the Facility Letter
or the Master Credit Terms (Uncommitted) will prevail. 1.3 The Facilities (a) Limits: The Bank will offer each Facility to each
designated Borrower specified opposite that Facility in column (3) of the table set out in Clause 2.1(a) (Designated Facility
Limits and Designated Sub-limits) subject to the Designated Facility Limits. Designated Combined Facility Limits and Designated
Sub-limits (whichever is the lower). The Bank may: (1) at its sole discretion, allow each designated Borrower excesses above the
stated limits and such excesses shall be deemed given at the Borrower's request; or (ii) where an Obligor breaches any provision
of a Finance Document, convert any Facility amount outstanding or otherwise due, to an unauthorised overdraft. (a) Currency: If
a Facility is made available in more than one currency, the Designated Facility Limits, Designated Combined Facility Limits and
Designated Sub-limits will be calculated in the Local Currency for the relevant Facility and any utilisation and any proposed
utilisation in other currencies will be converted into the relevant Local Currency at the Spot Rate. 

    	 

    	 

    

 

 

(c) Uncommitted: Regardless of any other provision of the Agreement,
each Facility is uncommitted and is made available to each designated Borrower at the Bank's sole discretion, and is subject to
periodic review at any time by the Bank. The Bank will have no obligation to make any utilisation under, or make available any
part of, any Facility. (d) On demand: Regardless of any other provision of the Agreement, each Facility is made available on an
on-demand basis. The Bank may at its sole discretion at any time on written notice to any Borrower: (i) cancel or call for cash
cover for all or any part of any Facility; or (ii) demand repayment/payment of any amount outstanding or otherwise due under or
in relation to any Facility (whether principal, interest or other sum), whereupon each Borrower must within two Banking Days pay
the relevant amount to the Bank; and I or (iii) enforce any and all Security Interest created under and pursuant to the Security
Documents. 2. CONDITIONS PRECEDENT 2.1 Initial Conditions Precedent Each Borrower must provide all of the Conditions Precedents
in form and substance satisfactory to the Bank before any utilisation of a Facility is permitted. 2.2 Further conditions precedent
The Bank's obligations in respect of each utilisation are subject to the further conditions precedent that on both the date of
each utilisation notice and the relevant utilisation date: (a) the representations and warranties made or given under the Finance
Documents are true and accurate in all material respects; (b) in the case of a rollover (if any), no Event of Default is continuing
or would result from the proposed utilisation and, in the case of any other utilisation. no Default is continuing or would result
from the proposed utilisation; and (C) the Bank has received all of the documents and other evidence listed in, and appearing
to comply with, the list of Utilisation-Specific Conditions Precedent. 3. FOREIGN CURRENCY 3.1 The Bank may at any time recalculate
the Local Currency Amount of any utilisation denominated in a Foreign Currency using the Bank's Spot Rate on the Banking Day prior
to the date of recalculation. 3.2 If at any time the total Local Currency Amount of all utilisations due by a Borrower exceeds
that Borrower's Designated Sub-Limit. that Borrower must repay an amount of principal (in relation to any utilisation(s) which
the Bank may identify) equal to such excess (together with all accrued but unpaid interest on that amount and any Break Costs)
within two Banking Days after receiving a demand from the Bank. 4. PREPAYMENT If prepayment is permitted in the Facility Letter
or otherwise with prior written permission of the Bank. all prepayments will be subject to the conditions stipulated by the Bank
including payment of prepayment charges / (based and calculated on interest differential and / or as agreed by the Bank) / Break
Costs and will be applied in or towards repayment and satisfaction of the obligations of the Borrower under the relevant Facility
in inverse chronological order. 5. DEFAULT INTEREST 5.1 If: (a) a Borrower fails to pay any amount payable by it under a Finance
Document on its due date or any Default occurs or is outstanding or continuing; or (b) draws in excess of the limited sanctions
by the Bank (even if such overdrawing has been permitted by the Bank at its sole discretion in such circumstances as may be deemed
exceptional by the Bank), then the relevant Borrower shall be liable and agrees to pay to the Bank default interest at the Default
Rate ("Default Interest") over and above the rate of Interest applicable for a Facility. A notice to the Borrower for
the levy of the Default Interest by the Bank and service of any such notice is waived. Default Interest will accrue daily on the
entire overdue amount from the due date up to the date of actual payment (both before and after judgment) and will be immediately
payable on demand to the Bank. This is without prejudice to the Bank's other rights and remedies available under the Finance Documents
and in law. 5.2 Default Interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount on any basis
that the Bank may select. 5.3 If a Borrower defaults, the Bank and the RBI may disclose or publish the name of the Borrower, its
partners and / or directors in a manner and via such medium as the Bank or the RBI may determine. 6. TAXES 6.1 All Taxes (including
service tax) in respect of or pursuant to any transaction under the Finance Documents will be to the account of and be borne and
paid by the Borrower at all times and the Bank will not be in any way liable to bear or pay any Tax (including service tax). Further,
each Borrower must make all payments to be made by it under the Finance Documents without any set-off or counterclaim and free
from any deduction or withholding for or on account of any Tax. 6.2 If a Borrower makes any such deduction or withholding for
or on account of any Tax. that Borrower must: (a) pay to the Bank any additional amount as may be necessary to ensure that the
Bank receives the full amount of the relevant payment as if that deduction or withholding had not been made; and (b) supply promptly
to the Bank evidence satisfactory to the Bank that it has accounted to the relevant Authority for the withholding or deduction.
7. INCREASED COSTS Each Borrower must on demand by the Bank, pay the amount of any Increased Costs incurred by the Bank or any
of its Affiliates as a result of: (a) the introduction of or any change in (or in the interpretation, administration or application
of) any law; Or (a) compliance with any law made after the date of the Agreement. 

    	 

    	 

    

 

 

8. PAYMENTS 8.1 Banking Days If any date for payment of any
sum due under the Finance Documents is not a Banking Day then that payment must be made on the next Banking Day in the same calendar
month or the preceding Banking Day if there is not. 8.2 Place, currency and funds (a) On each date on which a Borrower is required
to make a payment under a Finance Document that Borrower must pay the Bank for value on the due date at the time, in the currency
in which the Facility is denominated along with the cost, expense etc is incurred or as otherwise as specified by the Bank and
in such funds as are specified by the Bank. (b) Payment must be made to the account the Bank specifies. 8.3 Partial payments If
the Bank receives insufficient payment to discharge all the amounts then due and payable under the Finance Documents, the Bank
may apply that payment towards the obligations under the Finance Documents in any manner the Bank decides, irrespective of any
appropriation made by any Borrower. 8.4 Timing of payments If a Finance Document does not provide for when a particular payment
is due, that payment is due within three Banking Days of demand by the Bank. 9. REPRESENTATIONS AND WARRANTIES Each Borrower makes
the following representations and warranties to the Bank from and after the date of the Agreement which are deemed to be repeated
at all times (having regard to the circumstances existing at the time of repetition) so long as any sums are actually or contingently
owing under the Agreement. 9.1 Status (a) It is and each of the other Obligors is legally and properly organised and in existence
under the law of its jurisdiction of incorporation. (b) It, each other Obligor and each of its Subsidiaries have the power to
own its assets and carry on its business as it is being conducted. 9.2 Binding obligations The obligations expressed to be assumed
by it and each other Obligor in each Finance Document are legal, valid, binding and enforceable obligations and the person(s)
executing such documents on behalf of it and each other Obligor have been duly authorised to do so. 9.3 Non-conflict The entry
into and performance of the Finance Documents by it and each other Obligor and the transactions contemplated by the Finance Documents
do not and will not conflict with or violate: (a) any law or any official or judicial order, decree or judgment applicable to
it or any other Obligor; or (b) its or any of its Subsidiaries' or any other Obligor's constitutional documents; or (c) any agreement
or instrument binding upon it or any other Obligor or any of its Subsidiaries or any of its or any other Obligor's or any of its
Subsidiaries' assets. 9.4 Powers and authority It and each other Obligor has the full power to enter into and perform, and has
taken / obtained all necessary action, authorisations, consents, approvals and licenses, and which are in full force and effect,
without any default on the part of any Obligor, to (i) own its property and assets. carry on its business; (ii) enter into, perform
and delivery the Finance Documents and the transactions contemplated by the Finance Documents; and (iii) ensure the validity and
enforceability of the Finance Documents and the transactions contemplated by the Finance Documents. 9.5 Validity All authorisations
required or desirable to enable it and each other Obligor to lawfully enter into, exercise its rights and comply with its obligations
in the Finance Documents to which it is a party have been obtained or effected and are in full force and effect. 9.6 No stamp
taxes Other than the stamp duty and any applicable registration fee or charges already paid on / in relation to the Finance Documents.
no duty or Tax or charge is payable on / in respect of any Finance Document. 9.7 Security Interests Any Security Interest created
under the Finance Documents is, subject to completion of all registrations required by law, a legal, valid, binding and enforceable
charge over the assets to which such Security Interest relates, as per ranking in the Facility Letter. 9.8 Immunity (a) The entry
into each Finance Document (to which it is a party), and the exercise by it of its rights and performance of its obligations under
each such Finance Document will constitute, private and commercial acts performed for private and commercial purposes; and (b)
It will not be entitled to claim immunity from suit, execution. attachment or other legal process in any proceedings taken in
ifs jurisdiction of incorporation in relation to any Finance Document. 9.9 Environmental claims It has complied with all environmental
law which it is subject to and is not aware of any basis for any environmental claim against it which may have an Adverse Effect.
9.10 No Adverse Effect There is no action, suit, proceeding or investigation pending and/or continuing or to the knowledge of
the Borrower threatened by or against any Obligor or the property of any Obligor before any court of law or Authority which may
have an Adverse Effect 9.11 Correct Information All factual and other information provided to the Bank by an Obligor was true
and accurate as at a date no earlier than the date on which it was provided. 9.12 No Default No Default has occurred or is continuing
or outstanding. 9.13 Receivables Any receivables purchased or debt financed by the Bank will not be the subject of any counter
claim, set off, netting arrangement, any credit, discount or allowance or deduction on the part of the relevant buyer of the goods/services
and no Obligor shall avail of any other facility or financing arrangement from any person in respect of any receivables 

    	 

    	 

    

 

 

purchased or debt financed by the Bank, whether directly or
indirectly, which may result in double financing. 9.14 Additional representations Such additional representations as may be specified
in the Facility Letter. 10. GENERAL UNDERTAKINGS 10.1 Authorisations and compliance with laws Each Borrower must obtain, maintain
and comply with any / each authorisation, consents, approvals and licences required by any law to enable it to (i) own its property
an assets, carry on its business; (ii) enter into, perform and deliver the Finance Documents and the transactions contemplated
by the Finance Documents; and (iii) ensure the validity and enforceability of the Finance Documents and the transactions contemplated
by the Finance Documents. 10.2 Pari passu ranking Each Borrower undertakes that its obligations and liabilities under each Finance
Document will at all times rank (except in respect of statutory preferential debts) at least part passu with all its present and
future unsecured indebtedness. 10.3 Negative pledge (a) No Borrower will (and must ensure that no other Group member will) create
or permit to subsist any Security Interest over any of its assets other than under the Security Documents. (b) No Borrower will
(and must ensure that no other Group member will): (i) sell, transfer or otherwise dispose of any of its assets on terms by which
they are or may be leased to or re-acquired by it or any Group member: (ii) sell, transfer or otherwise dispose of any of its
receivables on recourse terms; (iii) enter into any arrangement under which money or the benefit of a bank or other account may
be applied, set-off or made subject to a combination of accounts: or (iv) enter into any preferential arrangement having a similar
effect, in circumstances where the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness
or of financing the acquisition of an asset. ('Quasi-Security" means any transaction described in paragraph (b) above) (c)
Paragraphs (a) and (b) above do not apply to: (i) any netting or set-off arrangement entered into by any Group member in the ordinary
course of its banking arrangements for the purpose of netting debit and credit balances; (ii) any lien arising by operation of
law and in the ordinary course of trading or retention of title arrangement in the ordinary course of trading on standard terms
and conditions of any supplier; (iii) any Security Interest or Quasi-Security over goods and/or documents of title to goods arising
in the ordinary course of letter of credit transactions in the ordinary course of trade; (iv) any Security Interest or Quasi-Security
created by any Finance Document; (v) any Approved Security except to the extent that the principal amount secured by any Approved
Security exceeds the relevant maximum principal amount specified against that Approved Security in the Facility Letter; and (i)
any Security Interest or Quasi-Security created with the prior written consent of the Bank provided that the principal amount
is not increased at any time. 10.4 Disposals, acquisitions and mergers No Borrower will (and must ensure that no other Group member
will): (a) dispose of all or any part of their assets or make any acquisition or investment except where made in the ordinary
course of trading or, in relation to a disposal of assets only, of assets in exchange for other assets comparable or superior
as to type and value: (b) enter into any scheme of expansion, merger. amalgamation, compromise or reconstruction, except with
prior written consent of the Bank; (c) permit any change in its ownership or control or constitution or shareholding or the management
or majority of directors or partners, except with prior written consent of the Bank; (d) make any change to the general nature
of its business from that carried on at the date hereof, except with prior written consent of the Bank; and (e) make any change
to / in its constitutional documents, except with prior written consent of the Bank. 10.5 Change of business Each Borrower must
procure that no substantial change is made which will have an effect on the general nature of its business or that of its Group
from that carried on at the date of the Agreement. 10.6 Financial statements and other information (a) Each Borrower must ensure
that the Bank receives: (i) the Financial Statements as soon as they become available or within the time period as prescribed
by the Bank / RBI; (ii) accurate and up to date information necessary to enable the Bank to comply with applicable law, "know
your customer' or similar identification procedures as the Bank may request from time to time; (iii) details of any litigation.
arbitration or other (iv) proceedings pending or threatened; (v) purpose of utilisation; (vi) cash flow projections of the Borrower
for the next year, the monthly stock and book debts statements and the quarterly information data along with the aging schedule
of the Borrower's overdue payables, in the Borrower's periodical returns as prescribed by the Reserve Bank of India, within the
time period as prescribed by the Bank / RBI; and (vii) any further information, financial or otherwise the Bank may reasonably
request from time to time in writing regarding the Borrower / Group including, without limitation, any information requested in
relation to the Purpose of the Facility. Further, the Borrower agrees to create any security and repay the principal and applicable
interest within the stipulated timelines. Non or late submission or payment of any of the aforesaid, will attract penal charges
at the rates and the discretion of the Bank. (b) Each Borrower must ensure that the consent of Relevant Data Subjects to the Bank's
collection. holding. storing, use, processing. transfer. disclosure, and reporting (directly or indirectly) to any Authority of
their Personal Information is obtained. 

    	 

    	 

    

 

 

10.7 Notification of Default Each Borrower must notify the Bank
of any Default (and any steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence. 10.8 Right of
First Refusal As long as any sum remains owing under any Facility, if a Borrower wishes to engage any person to provide (i) currency,
commodity price or interest rate hedging, transaction banking products and services including cash management services, trade
services, trade finance, custodial services. fund administration and escrow services, (ii) any refinancing or replacement of the
Facilities or (iii) any other similar transactions in the financial markets (collectively the "Services"), the relevant
Borrower shall enter into good faith negotiations and shall give the Bank or its Affiliate the right of first refusal to provide
such Services, such right to be subject to terms and conditions to be agreed. Provided that the foregoing shall not be deemed
as a waiver by a Borrower of its rights or restriction on the Borrower to access the market or any other bank, financial institution
or service provider in respect of the Services. 10.9 Sanctions (a) No Obligor, nor any of their Affiliates or persons associated
directly or indirectly with the Obligor: (i) is a Restricted Party; or (ii) has received notice of or is aware of any action or
investigation against it with respect to any Sanctions. (b) The proceeds of any utilisation, monies or services or other transaction
contemplated by or provided under this Agreement shall not be used: (i) either directly or indirectly for the benefit of any Restricted
Party; or (ii) in any manner that would result in any Obligor or the Bank or any Affiliate or agent thereof being in breach of
any Sanctions (if and to the extent applicable to them) or becoming a Restricted Party. 10.10 Additional documents The Borrower
agrees and undertakes to sign. without any demur or protest. such documents and writings and at such periodic intervals, as may
be required by the Bank, acknowledging the outstandings under each or any of the Facilities, for the purpose of section 18 of
the Limitation Act, 1963. 10.11 Additional undertakings Each Borrower must comply with any additional undertakings that may be
specified in the Facility Letter. 11. EVENTS OF DEFAULT 11.1 Events of Default The following are Events of Default of the Master
Credit Terms (Uncommitted). (a) Any representation, warranty, information or declaration provided by any Obligor in terms of /
under any Finance Document and/or in relation to the Facilities is or becomes false, misleading or otherwise incorrect. (b) Any
Obligor fails to observe or comply with any of the terms conditions of the Facilities / any Finance Document. (c) Any Obligor
fails to make payment of any amount due under / in relation to the Facilities as and when it becomes due. (d) Any Obligor commits
any act of bankruptcy, insolvency, suspends payment to any of its creditors, or if any petition of bankruptcy or winding up is
filed by or against any Obligor. (a) A receiver is appointed over the whole or any part of the property of any Obligor. (b) Any
Obligor ceases or threatens to cease carrying on its business, (c) Any order of attachment, distress, execution or other similar
process is enforced against any Obligor and / or upon any security provided to the Bank in relation to the Facilities. (d) The
securities (if any) created under the Finance Documents ceases to enure to the benefit of the Bank. (e) If it is certified by
a firm of accountants appointed by the Bank (which the Bank is entitled and hereby authorised to so appoint at any time) that
the liabilities of any Obligor exceed its assets or that any Obligor is carrying on a business at a loss or if the net worth of
any Obligor is reduced from the level as intimated to the Bank in the latest net worth statement submitted to the Bank. (f) If
there is any deterioration or impairment of any securities or any part thereof or any decline or depreciation in the value thereof
(whether actual or reasonably anticipated), which causes the securities or any part thereof, in the judgment of the Bank to become
unsatisfactory as to character or value. (g) All or any part of a Facility is not utilised for the purpose for which it is sanctioned
/ granted. (I) If any litigation, arbitration. investigative, regulatory or administrative proceeding / action is current, pending
or threatened against any Obligor or any other event occurs, which the Bank determines in its absolute discretion has (or might,
if adversely determined, have) an Adverse Effect. (m) If an application is moved before Board for Industrial and Financial Reconstruction
(BIFR) for declaring any Obligor as "Sick Company" under the provisions of Sick Industrial Companies Special (Provisions)
Act, 1985 or any other analogous law (Including the Companies Act, 2013). (n) If there is any default, event of default or a potential
event of default (however described) or other similar condition or event which with the lapse of time or giving of notice may
become an event of default under one or more agreements or instruments (i) relating to any debt: (ii) entered between (a) the
Bank and any Obligor. or (b) the Bank and any of the Obligor's Affiliates/associated company(ies); or (c) any Obligor and any
of its lenders; or (d) Any Obligor's Affiliates / associated company(ies) with any of their lenders. If it becomes unlawful in
any applicable jurisdiction for the Bank to perform any of its obligations as contemplated by any Finance Document or to fund
or maintain or continue any Facility. If a cross default as below occurs: (i) any debt of any Obligor is not paid when due nor
within any originally applicable grace period: (ii) any commitment for any debt of Obligor is (iii) cancelled or suspended by
a creditor as a result of an event of default (however described): (iv) any creditor of any Obligor becomes entitled to declare
any debt due and payable prior to its specified maturity as a result of an event of default (however described): or (v) any encumbrance
over any assets of any Obligor to secure any other debt becomes enforceable; (q) If any event occurs or circumstances arise which
in the opinion of the Bank would have an Adverse Effect. 

    	 

    	 

    

 

 

11.2 Consequences of Default Without prejudice to or affecting
or diluting the rights of the Bank under Clause 1.3 (d) or under any Finance Document, if an Default occurs or is outstanding,
the Bank may at any time with immediate effect by a notice in writing to the Borrower: (a) cancel the Facilities, whereupon no
further utilisation may be made of the Facility; and/or (b) declare all monies / amounts due, owing or outstanding (whether or
not then otherwise due) under the Facilities as being immediately due and payable or otherwise payable on demand: and /or (c)
enforce the security / Security Interest created under the Finance Documents. 12. EVIDENCE AND CALCULATIONS 13. 12.1 Accounts
Accounts maintained by the Bank in connection with the Agreement are prima facie evidence of the matters to which they relate
for the purpose of any litigation or arbitration proceedings. 12.2 Certificates and determinations Any certification or determination
by the Bank of a rate or amount under the Finance Documents will be, in the absence of manifest error, conclusive evidence of
the matters to which it relates. 12.3 Calculations Any interest or fee accruing under the Agreement accrues daily and is calculated
on the basis of the actual number of days elapsed and a year of 360 or 365 days or otherwise, depending on what the Bank determines
is market practice. 12. INDEMNITIES 13. 13.1 Currency indemnity (a) Each Borrower agrees to indemnify the Bank against any loss
incurred by the Bank as a result of any judgment, award or order being given or made for the payment of any amount due under any
Finance Document and that judgment, award or order being expressed in a currency other than that in which the payment was due.
(b) Each Borrower, as an independent obligation shall upon demand by the Bank indemnify the Bank against any cost, loss, outstandings
or liability arising out of any discrepancy / difference between (i) the foreign currency exchange rate applicable at the date
of utilisation, and (ii) foreign currency exchange rate applicable at the date of repayment or prepayment, as the case may be,
and all such amounts payable shall be deemed to be part of the outstandings due from the Borrower to the Bank for and on account
of a Facility under the terms of the Finance Documents. (c) Each Borrower waives any right it may have to pay any amount under
a Facility in a currency or currency unit other than that in which such amount is drawn down and/ or notified by the Bank. as
the case may be. 13.2 General indemnity Each Borrower must immediately on demand pay to and indemnify the Bank against any cost,
loss. Tax (excluding any Tax on the net income of the Bank in jurisdictions in which it is resident) or liability incurred by
the Bank consequent upon / as a result of: (a) The Bank entering into and undertaking the transactions contemplated by the Finance
Documents: (b) the occurrence of an Event of Default; or (c) any enquiry, investigation, subpoena (or similar order) or litigation
with respect to any Obligor in relation to any Finance Document or transaction contemplate thereunder. (d) any delay, loss in
transit, errors in translation, the coding or decoding of the communication or omissions, variations, mutilations or other errors
in the transmission of the form of communication and Instructions. 13.3 Process for Instructions (a) The Bank is entitled to rely
and act upon any Borrower's instructions, whether by way of email, fax or scan ("Instructions"), and assume that an
authorised signatory of the Borrower has issued the Instructions. (b) Each Borrower shall: (i) deliver to the Bank no later than
the next Banking Day following the dispatch of any instruction. the originals, in hard copy of such instruction bearing the legend
"Confirmation of Scan" in bold letters. Failure of the Borrower to deliver such original hard copies shall not prejudice
this indemnity; or (ii) hold the original hard copies of such Instructions bearing the legend "Confirmation of Scan"
in bold letters, in trust for the Bank and shall promptly furnish the same when requested by the Bank. 13.4 Break Costs Each Borrower
must, on demand by the Bank, pay to the Bank any Break Costs it incurs at any time in relation to any utilisation. 14. OVER DRAWING,
LARGE CASH WITHDRAWALS AND SUSPENSION OF LIMITS 14.1 The Bank may disallow large cash withdrawals that are exceeding the Large
Cash Withdrawal Threshold Amount specified in the Facility Letter (which limit is subject to change from time to time, at the
discretion of the Bank, and will be communicated to the Borrower). The Bank is not under any obligation to meet further requirement
of the Borrower on account of growth in business, etc., without proper revision and sanction in credit limits. However, if the
Bank agrees to the request of the Borrower in this regard, the Borrower shall submit / execute necessary confirmation or other
documents as the Bank may require and shall be liable to repay the amounts disbursed along with interest, cost. charges etc. as
applicable to the existing main limit or at any other rate of interest which may be communicated to the Borrower while acceding
to the Borrowers request. 14.2 The Bank may suspend the Facility and / or disallow drawings on a borrowal account on its classification
as a non performing asset or on account of non compliance with the terms of the sanction and for which no separate communication
will be made by the Bank. 14. COSTS, EXPENSES AND DEBIT RIGHTS 15.1 Each Borrower must on demand pay the Bank all costs and expenses
(including legal fees and any Tax) the Bank incurs in connection with: (a) the preparation, negotiation, execution or perfection
of; (b) any amendment to, or waiver of or consent under (or any evaluation of a request for the same); or (c) enforcement of,
or the preservation of any rights under, any Finance Document. 

    	 

    	 

    

 

 

15.2 Notwithstanding anything contained in any Finance Document
and without prejudice to any of the other rights of the Bank, the Bank reserves the right to and the Borrower hereby consents
to, and hereby authorises the Bank to debit the Borrower's accounts with the Bank, at any time and for: (a) the principal, interest
and all outstandings / dues under the Facility / Finance Document. charges, fees, indemnity / reimbursement obligation and all
monies owed to the Bank; and / or (b) any and all sums, obligations and liabilities (including insurance premiums. commission,
service charges. interest, monies arising from the Facilities, default interest, exchange expenses, banker's charges, fees. disbursements,
costs and other expenses) owed or otherwise payable by the Borrower to the Bank. The Bank may make the necessary currency conversions
at its usual rate of exchange; and / or (c) any eventuality (whether or not in relation to the Facility hereunder), any monies
that the Bank may have paid out or remitted to any person on behalf of or for the Borrower. Such debiting shall not be deemed
to be a payment of the amount due (except to the extent of any amount in credit in the Borrower's current account) or a waiver
of any event of default relating to the Facility. If such debiting causes the Borrower's account to be overdrawn, interest shall
be payable accordingly. 16. AMENDMENTS AND WAIVERS 16.1 Procedure Any provision of the Agreement may be varied or amended by the
Bank at its sole and absolute discretion by notice to the relevant Borrower, and any such variation or amendment will be binding
on all Parties. 16.2 Waivers and remedies cumulative The Bank's failure to exercise or delay in exercising any right, power, privilege
or remedy under the Finance Documents will not operate as a waiver or acquiescence, nor will any single or partial exercise of
any right, power, privilege or remedy prevent any further or other exercise or the exercise of any other right, power, privilege
or remedy. The rights, powers, privilege and remedies provided to the Bank in any Finance Document are cumulative and not exclusive
of any rights or remedies provided by law or in equity, by statute or otherwise. 16.3 Deletions, new terms and changes Any additional
provision specified in Clause 9 (Additional Conditions) of the Facility Letter will be incorporated in the Agreement and any provision
specified in Clause 9 (Additional Conditions) of the Facility Letter as a provision which should be amended or deleted in the
Master Credit Terms (Uncommitted) will be amended or deleted accordingly. 17. CHANGES TO THE PARTIES 17.1 Assignments and transfers
by any Borrower No Borrower or any other Obligor is entitled to assign, transfer or novate any of its rights and obligations under
the Finance Documents without the Bank's prior written consent. 17.2 Assignments and transfers by the Bank (a) The Bank may at
any time assign or transfer any of its rights and obligations (in full or in part) under any Finance Document to any other person
or change its lending office without the prior consent of or any notice to the Obligors. (b) The Borrower agrees that the Bank
(or any nominee of the Bank) may retain any Security Interest created (or any part thereof) in trust and for the benefit of such
assignee (and upon part assignment. in trust and for the benefit of both the Bank and such assignee on a pari passu basis), without
the consent of or notice to the Borrower. Upon any such transfer or assignment as contemplated herein. the assignee and the Bank,
as the case may be, will be entitled to take any action, including recovery and enforcement of the Bank's rights, in its own name.
The Borrower shall continuo to be bound by the terms of the Finance Documents notwithstanding such transfer or assignment (c)
Participation: The Borrower gives its unconditional consent that the Bank shall be entitled to shift, at its discretion, without
notice to the Borrower, from time to time a part or portion of the outstandings in the limit/s of the Facility ("the Participation")
to one or more scheduled commercial banks ("Participating Banks") and such Participation's shall be governed by the
terms of the UNIFORM CODE GOVERNING INTER BANK PARTICIPATIONS. 1988 and all amendments thereto. from time to time. Such Participation
shall not affect the rights and obligations, inter-se, the Borrower and the Bank in respect of the Facility, in any manner whatsoever.
Such Participation shall be available to the Bank, for and in respect of all additional/ further limits under the Facility. without
any confirmation/ consent of or any reference to the Borrower in that behalf. The Borrower shall not have and shall not claim
any privity of contract with any such Participating Banks under the Participation and the Bank shall and shall continue to represent
the Participating Banks in all respects and for all matters arising out of/relating to the Participation. (d) Inter-branch Transfer:
The Borrower hereby agrees that the Bank shall be at liberty to transfer the Facility / account of the Borrower from one branch
to another branch of the Bank as per the administrative convenience of the Bank. The Borrower hereby agrees and confirms that
such transfer of the Facility / account shall not be considered as closed and all the Finance Documents will continue unaffected
until all the amounts remaining unpaid under the Facility / account so transferred to the other branch are repaid in full. 18.
DISCLOSURE OF INFORMATION The Bank will keep information provided by, or relating to, any Borrower confidential except that the
Bank may disclose such information: (a) to any of the Bank's Affiliates; (b) to any of the Bank's or the Bank's Affiliates' service
providers, insurers or insurance brokers or professional advisers, who are under a duty of confidentiality to the discloser to
keep such information confidential; (c) to any actual or potential participant, sub-participant or transferee of the Bank's rights
or obligations under any transaction between the parties (or any of its agents or professional advisers) and any other person
in connection with a transaction or potential transaction between the parties; (d) to any rating agency, or direct or indirect
provider of credit protection; (e) as required by law or any Authority; and (I) to the Credit Information Bureau (India) Ltd.
and any other agency authorised in this behalf by the Reserve Bank of India or any other regulatory authority, which may use.
process, disclose and furnish the said 

    	 

    	 

    

 

 

information disclosure by the Bank in any manner as deemed fit
by them. 19. SET-OFF The Bank may set off any obligation due from a Borrower or the Borrowers Affiliates under the Finance Documents
against any obligation owed by the Bank or the Bank's Affiliates to that Borrower or the Borrower's Affiliates. regardless of
the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Bank
may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. For
the purposes of this Clause. "obligation" includes any obligation whether matured or unmatured, actual or contingent,
present or future. If the amount of any such obligation is unascertained, the Bank may estimate the amount for the purposes of
the set-off. 20. LIENS In addition to all liens upon, and rights of set off against the monies, securities or other property of
each Borrower given to the Bank by law, the Bank shall have a lien upon and a right of set off against, all monies, securities
and other property of each Borrower now or hereafter in the possession of or on deposit with the Bank. whether held in a general
or special account or deposit, or for safe keeping or otherwise; and every such lien and right of set off may be exercised without
demand upon or notice to the relevant Borrower. No lien or right of set off shall be deemed to have been waived by any act or
conduct on the part of the Bank, or by any neglect to exercise such right of set off or to enforce such lien, or by any delay
in so doing and every rights of set off and lien shall continue in full force and effect until such rights of set off or lien
is specifically waived or released by an instrument in writing executed by Bank. 21. REGULATORY DECLARATIONS 21.1 For the purposes
of this clause: "Directors of the Bank" means and includes the Chief Executive Officer (CEO) and the top most officers
of Business and Credit (presently the business head and credit head). "directors of other banks" includes (apart from
directors of commercial banks) directors of Scheduled Co-operative Banks, the directors of their Subsidiaries / trustees of mutual
funds / venture capital funds. "relative" means a person's spouse, father. mother (including step-mother), son (including
step-son), son's wife, daughter (including step-daughter), daughter's husband, brother (including step-brother), brother's wife.
sister (including stepsister), sister's husband, brother (including step-brother) of the spouse and sister (including step-sister)
of the spouse. "Specified Senior Officer" means and includes the top most senior officer (presently the business head
and credit head) and his / her immediate next lower level officer in credit and business functions of the Bank. "Substantial
Interest" shall have the same meaning assigned to it in Section 5(ne) of the Banking Regulation Act, 1949. 21.2 By signing
this Agreement the Borrower hereby declares as follows: (a) at the date hereof none of the "Directors of a Bank" or
their relatives, is interested in the Borrowers as a partner or in their subsidiary or holding company as director.managing agent,
manager, employee or guarantor or holder of substantial interest, as the case may be; (b) at the date hereof none of the directors
or relative of a director of other banks, is a relative of the Borrowers or is interested in the Borrowers as partner, director
or guarantor or holder of substantial interest, as the case may be; and (c) at the date hereof, the Borrower and none of its directors
or partners is a relative of any "Specified Senior Officer of the Bank" or "Specified Senior Officers" or
his/her relatives, is interested in the company as partner, director or guarantor or holder of substantial interest, as the case
may be. (d) no Borrower nor any of its current or future directors / promoters / guarantors / associate concerns / partners /
coparceners (as the case may be) is or shall be: (i) on the Export Credit Guarantee Corporation's (ECGC's) specified approval
list; or (ii) convicted under the provisions of Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974:
or (iii) on Reserve Bank of India's defaulters / caution list; Or (i) on the Bank's defaulter list. In the event that the below
negative confirmations/ declarations are not true, then each Borrower shall provide a written declaration with details of such
relationship to the Bank. If the details of such declaration change during the term of the Facility then, the relevant Borrowers
shall promptly provide a written declaration to the Bank of any such changes for the Bank to consider the same. 21.3 Each Borrower
shall promptly give written notice to the Bank of all litigations affecting any Obligor including. its directors, partners, etc
as the case may be which have been initiated by any other financial institution and / or bank CFI Litigations"), and to procure
the delivery of such notice to the Bank from the Borrower. Further, each Borrower shall provide complete details of all such Fl
Litigations which are current, proposed. pending, continuing or threatened against any Obligor its directors, partners, etc in
accordance with the regulations issued by Reserve Bank of India, from time to time. 21.4 Each Borrower has duly paid and shall
continue to pay, on timely basis. all statutory dues, including without limitation, statutory dues under The Employees' Provident
Funds and Miscellaneous Provisions Act, 1952. Each Borrower shall provide, on annual basis or as required by the Bank, a certificate
from its auditors certifying that all statutory dues, including without limitation, statutory dues under The Employees' Provident
Funds and Miscellaneous Provisions Act, 1952 have been duly paid by each Borrower. 21.5 Each Borrower must not use all or any
part of the Facility for investment(s) into capital market oriented mutual fund schemes including, without limitation. equity
/ real estate mutual funds. 22. NOTICE 22.1 In writing Any communication made in connection with the Finance Documents, including
any demand made under the Agreement, must be in English and in writing and may be made by email, fax or letter. 22.2 Contact details
Contact details are as otherwise notified to the other Party by not less than five Banking Days' notice. 

    	 

    	 

    

 

 

22.3 Effectiveness (a) Any communication or document made or
delivered to an Obligor in connection with the Finance Documents will only be effective: (i) if by way of fax, at the time shown
on the transmission report as being successfully sent; (ii) if delivered personally, at the time of delivery; (iii) if sent by
post, six (6) Banking Days after posting; and (iv) if sent by email, at the time sent by the Bank. (b) Any communication or document
given to the Bank will 'be effective only when actually received by the Bank. (c) Any communication or document given under paragraph
(a) above but received on a non Banking Day or after business hours in the place of receipt, will only be deemed to be given on
the next Banking Day in that place. 23. PARTIAL INVALIDITY If any provision of the Finance Documents is or becomes illegal, invalid
or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining
provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any
way be affected or impaired. 23. ENTIRE AGREEMENT The Finance Documents constitute the entire agreement between the Parties about
its subject matter and replace all previous agreements between the Parties on that subject matter. None of the Borrowers have
relied on any oral or written representation or warranty made, or purportedly made, by or on the Bank's behalf except as set out
in the Finance Documents. 23. COUNTERPARTS Each Finance Document may be executed in any number of counterparts, and this has the
same effect as if the signatures on the counterparts were on a single copy of that Finance Document. 23. GOVERNING LAW AND JURISDICTION
The Agreement and all non•contractual obligations arising in any way out of or in connection with the Agreement are governed
by Indian law and each Borrower irrevocably submits to the non-exclusive jurisdiction of the courts of the Jurisdiction (as defined
in the Facility Letter). This shall not however limit the rights of the Bank to take proceedings in any court of competent jurisdiction.

    	 

    	 

    

 

 

APPENDIX 1 TRADE FINANCE FACILITY Trade Finance Group All •Negotiation
of export credit documents with discrepancies on a with recourse basis Trade Finance Group 1 •Purchase of documents against
payment bills with title documents on parties acceptable to the Bank on a with recourse basis •Purchase of documents against
acceptance bills with ECA/approved insurance cover on a with recourse basis •Issuance of back-to-back letters of credit •Issuance
of import letters of credit - sight and usance - with title documents •Loan against import Trade Finance Group 2 •Purchase
of documents against acceptance bills without ECA/approved insurance cover on a with recourse basis •Purchase of documents
against payment bills without title documents on parties acceptable to the Bank on a with recourse basis •Issuance of quasi
back-to-back letters of credit - without title documents (i.e. Import letter of credit supported by export letter of credit acceptable
to the Bank) •Issuance of import letters of credit - sight and usance - without title documents •Shipping guarantees
Trade Finance Group 3 •Pre-shipment loan - i.e. packing credit •Purchase of clean (non-documentary) bills of exchange
on a with recourse basis •Purchase of clean (non-documentary) promisso with recourse basis •Acceptance of drafts under
import letters of cre •Release of documents against acceptance supp receipts •Loans against trust receipts •Import
loans •Import invoice financing ] unless specified in •Export invoice discounting ] the Facility Letter. •Red clause
letters of credit ] For MAJESCO SOFTWARE AND SOLLITONS INDIA PVT. LTD. Director I Authorised Signatory

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