DEED OF INDEMNITY

(To be attested on Rs. 100 Stamp Paper)

THIS DEED of indemnity is made at…………………on this………………… day

of…………20…... by ___________, son of Shri………………… resident
of………………… (hereinafter referred to as "Borrower" which expression, shall unless
repugnant to the context or meaning thereof include his heirs, successors, legal
representatives and executors) in favour of ______, a company incorporated under the
Companies Act, 2013 and having its registered office at…………………; (hereinafter
referred to as "Lender”, which expression, shall unless repugnant to the context or
meaning thereof include its Successors and Assigns).

The Borrower and the Lender are hereinafter individually referred to as “Party” and
collectively referred to as “Parties”

WHEREAS

a) The Lender has provided/has agreed to provide the Borrower, a Vehicle Loan
aggregating to Rs. ____________ inter alia on the terms and conditions as
stipulated in terms of the Loan Agreement dated _______________ (hereinafter
referred to as the “Agreement”) executed between the Borrower and the Lender.

b) The Parties hereto are desirous of recording the terms and conditions of their
understanding specified here in this Deed.

c) All capitalized term, unless specifically defined herein shall have the meanings
ascribed to them respectively in the Agreement. 

 
NOW THIS INDENTURE WITNESSETH THAT in consideration of the Lender agreeing
to provide the Vehicle Loan to the Borrower, the Borrower agrees and undertakes that
he shall indemnify and keep indemnified the Lender to the extent of Rs …………………
from and against the following which may be made or brought or commenced against
the Lender or which the Lender may or may have to bear, pay or suffer, directly or
indirectly in relation to the Vehicle as specified more particularly in Clause 15 of the
Agreement:

(a) In respect of any actions, claims, costs, damages, demands, expenses,

losses and liabilities arising directly or indirectly from or in connection with
any loss or injury, whether pecuniary or otherwise in respect of
Vehicle/Borrower;

(b) In respect to any litigation/quasi-judicial proceedings etc. by/for or against

the Borrower in respect to the Vehicle.

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 (c) Against the loss of the Vehicle by seizure by any person other than the
Lender for any reason whatsoever caused to the Lender due to the
destruction of or any damage to the Vehicle.

(d) In case of the terms hereof and the Agreement, the Lender shall have the
complete authority to put this indemnity bond into enforcement, besides
taking other steps, including recalling of the Loan Outstanding Amount
and/or re-possession of the Vehicle more particularly specified in Clause
4.3 of the Agreement.

(e) This Deed is in addition and not derogation to the Agreement and the
terms and conditions incorporated in the Agreement shall be read as part
and parcel of the present Deed.

Witness: Signature of Borrower:

___________________ ____________________
___________________ ____________________