Yes, India Infoline (IIFL) charges a prepayment penalty, also known as foreclosure charges, for business loans if you pay back the loan before the term ends. The prepayment penalty depends on how long it's been since you first drew down the loan:
Within 6 months: 7% of the outstanding loan amount plus taxes
7th–24th month: 5% of the outstanding loan amount plus taxes
After 24 months: 4% of the outstanding loan amount plus taxes