MIO_ UBL VER 1.

0/0320

SANCTION LETTER

Date: 27/11/2020
Ref No: 11322406
Borrower Name: R J IMPEX
Communication Address: 2ND FLR 8/3 PRABHURAM SARKAR LANE DHAPA ROAD
KOLKATA,KOLKATA-700115(WEST BENGAL)
E-mail ID: ranjan.rjimpex@gmail.com

Kind Attention: RANJAN KUMAR - PARTNER- (9007043465)

We are pleased to inform that we have considered the request made by you and have accordingly sanctioned an
Un-Secured Business Loan Facility subject to conditions and special conditions if any, mentioned herein.

1 Nature of Facility Un-Secured Business Loan

1: RANJAN KUMAR
2 Co-Borrower Name
2: JITENDRA GIRI
3 Guarantor Name
4 Sanctioned Amount Rs.1515000.00
5 Validity of Sanction Letter 30 Days from the date of Sanction Letter
6 Availability Period of Draw Down 90 Days from the date of Sanction
7 Purpose Business Working Capital
8 Interest Type Fixed Rate
9 Interest Rate 18.50% per annum
10 Processing Fees 2.00% of Sanctioned amount plus applicable tax, amounting Rs. 35754
11 Admin & Loan Set-Up Fee 0.00% of Sanctioned amount plus applicable tax, amounting Rs. 0.00
12 Documentation Charges 0/- plus applicable tax, amounting Rs. 0.00
13 Tenure (In Months) 36 Months
14 Insurance Premium Rs. 15000
15 Repayment Mode NACH OTHERS
16 EMI Frequency Monthly
17 EMI Cycle 3 of Every Month
18 EMI Amount Rs.55152 towards payment of principal and interest
19 Repayment A/c No & Bank Name 915020051871634, Axis Bank, India

• Foreclosure not allowed within 12 months from the disbursal date.

Foreclosure/Prepayment
20
Charges • After 12 months till loan closure, Foreclosure penalty 4.00% plus
applicable tax will be applicable.

21 Part Payment Charges No Part Payment allowed

22 Default Interest 24% per annum on overdue amount
23 Legal Documents As applicable
1:Repayment to be taken from CA account of - Axis
Bank-915020051871634
2:Subject to positive CPV Report
3:Subject to positive RCU Report
4:2 SPDC’s for the proposed exposure
 MIO_ UBL VER 1.0/0320

24 Credit Conditions 5:E-statement Banking (Negative) - "Upload Perfios output" Mail

screenshot (Scan PDF)-Axis Bank-915020051871634
6:RANJAN KUMAR and JITENDRA GIRI to be taken as co- applicants
7:E-statement Banking (Positive) - "Upload Perfios output" Mail
screenshot (Native PDF)-ICICI Bank-XXXXXXXX0579
1. Subject to positive CPV, RCU report (If Applicable).
2. Proper self-attestation required on provided documents.
3. Execution of all the documents in the formats as specified by the
HFCL.
4. Primary applicant to be insured and Hero FinCorp Ltd reserves right
to deduct Insurance Premium from loan.
5. In case bounce is >= 3 times within first year of disbursement, HFCL
25 Standard Conditions
reserves the right to revise applicable ROI by up to 2%, at its sole
discretion, upon occurrence of any financial default. Such revised
interest rate shall be effective prospectively.
6. Non-submission of Post Disbursal Documents by the Borrower
beyond permissible timelines shall attract additional Penal charges of
Rs. 2500/- per document (post document submission commitment
date)

For Hero FinCorp Limited For Hero FinCorp Limited

Authorized Signatory Authorized Signatory

Name: _____________________ Name: _____________________

Designation: _________________ Designation: _________________

I/We accept the above terms and conditions (All applicants and co-applicants to sign below)

Customer Name Customer Signature Acceptance Date

___________________________ ___________________________ ___________________________

___________________________ ___________________________ ___________________________

 MIO_ UBL VER 1.0/0320

GENERAL TERMS

1. The sanction of the above mentioned Facility and all the terms and conditions mentioned in this Sanction Letter are subject to the
execution of a Facility Agreement and other documents in writing (Facility Documents) as Hero FinCorp Limited (HFCL) may specify in the
prescribed formats.
2. This Sanction Letter intends to summarize certain basic terms of the Facility and the Facility Documents and does not reflect an agreement
between the HFCL and the Borrower in relation to the Facility.
3. The Facility Documents shall contain additional terms and conditions which have not been set out in this Sanction Letter and the Facility
Documents shall be read together with the terms and conditions specified in this Sanction Letter.
4. All the Charges including without limitation, such as processing fees, legal, incidental expenses, inspection, legal search, insurance
expenses, stamp duty, Taxes and out of pocket expenses in connection with the proposed Facility shall be borne by the Borrower.
5. Notwithstanding anything contained in this Sanction Letter or otherwise, the sanction of the Facility mentioned overleaf is at the sole
discretion of HFCL and the terms and conditions in relation to the Facility are subject to modification and / or cancellation and / or
repayment to HFCL, at the sole discretion of HFCL, on demand without assigning any reasons for the same.
6. The Sanction of the Facility is subject to the Borrower having provided all such information and documents to HFCL as set may be
required by HFCL from time to time or as may be required under the Facility Documents.
7. HFCL, at its sole discretion, shall be entitled to revoke this sanction upon occurrence of any of the following events:
1. There is any material change in the purpose(s) for which the Facility has been sanctioned.
2. In the sole judgment of HFCL, any material facts have been concealed and / or become subsequently known.
3. Any statement, declaration, undertaking or disclosure made by, or on behalf of, the Borrower in the application or otherwise is
incorrect, inaccurate, incomplete or misleading.
4. There is a default or a breach of the terms and conditions of this Sanction Letter, the Facility Documents or any other loan / facility
offered by HFCL or its group company to the Borrower or any of the Co- Borrowers.
5. If there is any winding up or insolvency proceeding against the Borrower.
6. Relevant documents are not executed by the Borrower as per the HFCL’s policy and format.
8. HFCL reserves the right, at its sole discretion and without assigning any reason and with such notice as HFCL may deem reasonable to the
Borrower, to modify, vary, delete or add to the terms and conditions, or to terminate the said Facility, this Sanction Letter and the Facility
Documents, at any time, and to recall any or all of the amounts due under the said Facility. All amounts due in respect of the said Facility
shall become payable forthwith on such demand.
9. HFCL adopts interest rate/ pricing methodology based on various risks associated with the type of Facility, cost of funds, tenor of the loan,
type & value of Security, Facility Amount etc. Further, HFCL periodically reviews the rate of interest and product features offered by it with
those offered by its competitors. For a Borrower, an additional risk premium may be included in the pricing based on the credit risk
associated with the Borrower which is a function of the Borrower’s credit history, credit information, internal rating along with other factors
like the Borrower’s source of income, professional experience etc. Accordingly, the applicable rate of interest may be different for different
categories of Borrowers and may differ from one facility to other facility.
10. PEMI Interest, if applicable shall be at the rate at which the EMI has been calculated, may be charged, at the sole discretion of HFCL, from
the date of loan booking/disbursement till the date of commencement of first EMI.
11. The Borrower hereby accepts that, there may be a time lag between disbursement of the Facility and the payment being received by them.
The Borrower further agree & undertake that the Borrower will pay the interest and charges as set out in the Facility Documents on the
disbursed Facility Amount for such period & the Borrower will not claim for any type of refund.
12. The Processing Fees is a non-refundable fee and is collected by HFCL for the purpose of appraising the Loan Application form for the
Facility and the same is independent of the outcome/result of such appraisal.
13. The Borrower shall immediately intimate HFCL in the event of any change in the repayment capacity of the Borrower including loss /
change of job / profession, etc. and also any change in any information stated in the application or under any Facility Documents.
14. No amount under the Facility shall be disbursed until and unless the Borrower has executed the required agreements, documents and
writings and performed such other acts and deeds as HFCL may require.
15. The Borrower further agrees and undertakes that the full and final foreclosure / termination statement / letter will take at least 15 (fifteen)
working days from date of receipt of request.
16. HFCL reserves the right to deny any Facility foreclosure/ termination request received during the lock-in period (as defined under the
Facility Documents) or in case HFCL allows foreclosure/ termination of Facility during the lock-in period, HFCL reserves the right to charge
interest on the Facility for the period up to the completion of the lock-in period.
17. HFCL may in its sole discretion on such terms as to pre-payment charges, etc. as it may prescribe, permit, prepayment / acceleration in the
payment of EMIs at the request of Borrower, provided that HFCL may, in permitting such prepayment, also specify from time to time, the
minimum amount of prepayment / amounts payable on account of acceleration of EMI. In the event HFCL permits any prepayment /
acceleration, the repayment schedule for the Facility shall be amended / altered by HFCL for giving effect to such prepayment/ acceleration,
and such amended / altered repayment schedules shall be binding upon the Borrower. In case any amount is prepaid by the Borrower, the
same shall be adjusted first towards, incidental charges, Default Interest, PEMI interest, outstanding EMIs, EMI of the current month and
balance towards the principal dues.
18. All the facilities sanctioned to the Borrower shall be subject to HFCL’s rules as well as the directives issued by Reserve Bank of India, from
time to time.
19. HFCL may at its sole discretion disclose information regarding the Facility, Facility Documents or the Borrower, its Guarantors etc. to any
Person including government authority, RBI, CIBIL or any third party etc.
20. TDS Deduction – Gross Interest would be paid on the Facility to HFCL. Borrower shall provide a TDS certificate on a quarterly basis to
HFCL and only upon receipt of such TDS certificate shall HFCL be required to refund any TDS amounts to the Borrower within 3 (three)
Business Days. In the event the Borrower is paying the net amount, an undertaking, to the effect that the Borrower will provide TDS
certificates to HFCL on a quarterly basis, shall be provided by the Borrower. However, in event a TDS certificate not been provided within
agreed time frame of 3 (three) months, HFCL reserves the right to debit the amount to Borrower’s Facility account and same shall stand as
outstanding and recoverable along with Default Interest (where applicable).
21. Notwithstanding the issuance of this Sanction Letter and the acceptance thereof, HFCL may decide to not disburse the Facility, repudiate
and rescind this Sanction Letter unilaterally without assigning any reasons.
22. This Sanction Letter is confidential and the property of HFCL and neither this document nor the contents hereof shall be communicated to
or used without the HFCL’s prior written consent.
23. This sanction is available to the Borrower for the period specified in the letter (which period shall not exceed 30 (thirty) days from the date
of the Sanction Letter) provided the Borrower deposits with HFCL the processing fees mentioned overleaf along with a copy on this
Sanction Letter accepted and delivered by the Borrower to HFCL.
 MIO_ UBL VER 1.0/0320

24. This Sanction Letter shall be governed by the laws of India and the Borrower and HFCL shall be subject to the exclusive jurisdiction of New
Delhi. Notwithstanding the aforesaid, the Borrower acknowledges and agrees that HFCL may, however, in its absolute discretion
commence any legal action or proceedings arising out of this Sanction Letter and Facility Agreement against the Borrower in a court,
tribunal or any other appropriate forum situated in any part of India.

For Hero FinCorp Limited For Hero FinCorp Limited

Authorized Signatory Authorized Signatory

Name: _____________________ Name: _____________________

Designation: _________________ Designation: _________________

I/We accept the above terms and conditions (All applicants and co-applicants to sign below)

Customer Name Customer Signature Acceptance Date

___________________________ ___________________________ ___________________________

___________________________ ___________________________ ___________________________