MEMORANDUM OF UNDERTAKING
This MOU is made and entered into this day of 13th July 2010, at
Bangalore by & between Sri. Satheesh Magaji, aged about, residing at No.
and Poondala Saibaba aged about 57 years residing at No 1783. 21,stM a i n , 2 7
thc r o s s ,   2 nds e c t o r   H S R   L a y o u t   B a n g a l o r e   3 4   a n d   K L a k s h m i Prasad
, aged about 41 years, residing at No 1783. 21,st Main, 27thcross,2nd s e c t o r H S R
Layout Bangalore 34, Raja Naidu aged about
3 5 Y e a r s Residing at herein referred collectively as First Party and Sri. aged
abouty e a r s ,   r e s i d i n g   a t   N o . ,   B a n g a l o r e - 5 6 0   0 4 3 ,   h e r e i n a f t e r   r e f e r r e d  
t o   a s Second Party (Consultancy Client)

WITNESSETH

Whereas, First party is having expertise in arranging/raising funds or
loans, project Finance, External Commercial Borrowings, Supplier Credit,Export
advances from foreign Bank, Bank guarantee, Housing Loans andalso other soft
loans,Now therefore, in consideration of this MOU (Contract of Consultancy)
ando f   m u t u a l   p r o m i s e s ,   c o v e n a n t s   a n d   c o n d i t i o n s   h e r e i n   c o n t a i n e d ,   t
h e parties hereby mutually agree as follows:-

Whereas, First party is having expertise in arranging/raising funds or
loans, project Finance, External Commercial Borrowings, Supplier Credit, Export
advances from foreign Bank, Bank guarantee, Housing Loans and also other soft loans,
Now therefore, in consideration of this MOU (Contract of Consultancy)
ando f   m u t u a l   p r o m i s e s ,   c o v e n a n t s   a n d   c o n d i t i o n s   h e r e i n   c o n t a i n e d ,   t
h e parties hereby mutually agree as follows:-

A) The second party wants a credit facility of Rs. 50

C r o r e i n v a r i o u s forms such as Term Loan, Mortgage Loan,
Working Capital / cash credit for their project for which the first party as
agreed to arrange required finance through Bank/Financial Institutions/private
parties etc.,
B) T h e S e c o n d p a r t y h e r e b y a g r e e s t o p a y s e r v i c e
c h a r g e s a t 2 % + service tax as applicable on date of payment,
for arranging theirf i n a n c i a l   r e q u i r e m e n t s   b y   m e a n s   o f  
C h e q u e s   /   C a s h ,   n e c e s s a r y deductions like TDS shall be deducted as
per prevailing laws. All
ora n y   o t h e r   p r o c e s s i n g   c h a r g e s   l e v i e d   b y  
B a n k / F i n a n c i a l Institutions/Private Financers as per their
rules and regulations,
tot h e i r   b o r r o w e r s   s h a l l   b e   b o r n e   b y   t h e   s e c o n d   p a r t y .   A n y  
 o t h e r expenses during the processing of loan has to be borrowed by
the second party such as travel, legal, etc.,
C) I n t h e e v e n t o f f i r s t p a r t y f a i l i n g t o   a r r a n g e t h e l o a n i n
a g r e e d t i m e of 60 days in signing this MOU, then this MOU will
n e e d t o b e r e - executed or to be terminated.
D) T h e s e c o n d p a r t y w i l l n o t i n t e r f e r e i n w h a t s o e v e r
m a n n e r i n t h e nature of execution of the assignment of the first
party during thecontract period of 60 days. However, the second party
is at libertyto give suggestions / ideas.
E) T h i s   M O U i s e n t e r e d i n t o i n   d u p l i c a t e & t h e o r i g i n a l s h a l l
b e w i t h t h e first party and the duplicate with second copy.