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The Authorized Signatory,

The Peerless General Finance & Investment Co. Ltd.
53, Leader Road,

Dear Sir,
Ref : Maturity Payment
Certificate No. : ---------

With reference to the above, I herewith authorize Mr. -----------

-whose signature is verified as under to receive the said payment.

In this connection, please handover Midterm Maturity payment cheque to

Mr ----------------

Thanking you.

Yours sincerely,

Dated : 13/03/2007