i€±.-E:-.

EE Pragati Insurance Limited original copy

HEAD OFFICE: Pragati Insurance Bhaban, 20-21, Kawran Bazar, Dhaka-1215, Bangladesh
SVMB0LOF SECURllT phone: pABx: 91 3368o.2, Fax: 880-2-8122980, 9135780, E-mail; info@Pragatiinsurance.Com

Issuing Office :
BIN :oooooo6og-ooo6 Money Pleceipt No : M 0685 495

Elephant Roed
Date ' 18/07/2021

Brmch MUSAK : 6.3

class of Business ' Fire

Received wife thanks from Name of the Bank as per schedule Attached.
M.I CEMENT FAoroRy LIMrrED.
The g`)in of Th.4,401398.00 0aka Four Milfron Four Hundred Che Thousand Three Hundred Ninety Eight) Cinly
Mode of payment Ghq. 624449g Dated i8to772o2i
mawn on Agrani Banl[ Gulshan Br
keued against PII./EB/EAR/P-oo64/07/202l,

Premium Tk. 3,297,271.00

VAT (15%) Tk. 494, 591.cO
Stamp Th 0. 00
Servke Chnge Th. 0. 00
` ,, , ` . . ,

Total Th. 3,791,862.cO Officer Offlcer

NB: Sul]deet to the realiz;atan Of proceeds Of chequealpo's/DD's
A.K.M. Zakaria
AVP (Accounts}
 asp•i1`..,^^LPHO
ragati Insurance LimitedOFFICE:PRAGATllNSURANCEBHABAN,20-21,KAWRANBAZAR(14TH,15TH&16THFL00R),DHAKA-1215,BANGLADESHNE:PABX:9133680-2,DIRECT:9134337,9135779,8159443,8123075,8118268,9134335,9135780^-^^^^mF:^Y.

|ffl"`t'- [.'^'...n`^ "-i-rie'Sc-hedule

Name of the Bank's & 01. M/s. One Bank Limited, Gulshan Branch, Dhaka
Address
02. M/s. Prime Bank Limited, Motijheel Branch, Dhaka

03. M/s. Eastern Bank Limited, Corporate Banking Division, Dhaka

04. M/s. Jamuna Bank Limited, Gulshan Branch, Dhaka

05. M/s. United Commercial Bank Limited, Principle Branch, Dhaka

06, M/s. Shahjalal Islami Bank Limited, Main Branch, Dhaka

07. M/s. Dhaka Bank Limited, Gulshan Circle-2 Branch, Dhaka

08. M/s. BRAC Bank Limited, Gulshan Branch, Dhaka

09. M/s. Standard Chartered Bank, 67 Gulshan Branch, Dhaka

10. M/s. HSBC, Shanta Western Tower, 186, Bir Uttam Mir Shawkat
Sarak, Dhaka
11. M/s. Bank Alfalah Limited, Gulshan Branch, Dhaka

12. M/s. Habib Bank Limited, Corporate Banking, Gulshan-1, Dhaka

13. M/s. Dutch Bangla Bank Limited, Corporate Banking Division, Dhaka

14. M/s, Agrani Bank Limited, Gulshan Corporate Branch, Dhaka

15. M/s. The City Bank Limited, Corporate Banking Division, Area Office,
Agrabad, Chottogram16.M/s.NationalCreditandCommerce Bank Limited, Baridhara Branch,

Dhaka
17. M/s. Commercial Bank of Ceylon PLC, Gulshan Corporate Branch,
Dhaka
18. M/s. Bank Asia Ltd., Gulshan Branch, Bay's Galleria, 57 Gulshan
Avenue, Gulshan-01,Dhaka-1212

A/c. M/s. M.I. Cement Factory LimitedA/c.M/s.CrownPowerGenerationLimited

A/c. M/s. Crown Polymer Bagging Limited

A/c. M/s. Crown EnterpriseA/c.M/s.CrownCementConcrete & Building Products

Limited
Corporate Office: Delta Life Tower, 3rd & 6th Floor, Plot # 37,
\J\^l-` ``^` `_=1PIL/EB/lAR/P-064/07/2021 Dhaka-1212.
Road # 45 &90 Gulshan-2
lAR Policy No.

NI".7:Hit:zr_i::\
AVP (Accounts)
 24003

PRAGATI INSURANCE LIMITED

HEAD OFFICE: Pragati Insurance Bhaban, 20-21, Kawran Bazar, (14th -16th Flcor)
Dhaka-1215, Bangladesh, Phone: PABX: 9133680~2, Fax: 880-2-55013694
E-mail: info@Draciatiinsurance.com, P.O. Box No. 3721

Industrial All Risks (TAR) including Machinery

Breakdown (MBD) Insurance Policy

Of

M/s. M.I. Cement Factory Limited

M/s. Crown Power Generation Limited
M/s. Crown Polymer Bagging Limited
M/s. Crown Cement Concrete & Building Products Limited
M/s. Crown Enterprise

Policy No. PIL/EB/IAR/P -0064/07/2021

ii=
 Pragati Insurance Limited

Disclaimer

Page 1 of 19
 Pragati Insurance Limited

THE SCHEDULE
The Insurer Pragati Insurance Limited, Elephant Road Branch, Pearsons Tower, 229
Elephant Road Dhaka
The InsuredIII M/s. One Bank LiM/s.PrimeBankM/s.EasternBan mited, Gulshan Branch, Dhaka.Limited,MotijheelBranch,DhakakLimited,CorporateBankingDivision, Dhaka.

k Limited, GuercialBankamiBankLimLimited,Gulslshan Branch, Dhaka.Limited,PrincipleBranch, Dhaka.ited,MainBranch,Dhaka.hanCircle-2Branch,Dhaka.

M/s. Jamuna BanM/s.UnitedCommM/s.ShahjalalIslM/s.DhakaBank

M/s. BRAC Bank Limited, Gulshan Branch, Dhaka.M/s.StandardCharteredBank,67GulshanBranch, Dhaka.M/s.HSBC,ShantaWesternTower,186,BirUttamMirShawkat Sarak,

Dhaka.
M/s. Bank AlfalahM/s.HabibBankM/s.DutchBanglM/s.AgraniBankM/s.TheCityBa Limited, Gulshan Branch, Dhaka.Limited,CorporateBanking,Gulshan-1, Dhaka.aBankLimited,CorporateBankingDivision,Dhaka.Limited,GulshanCorporateBranch,Dhaka.nk`Limited,CorporateBankingDivision,AreaOffice,

Agrabad, ChottogM/s.NationalCr_
edit_aha Commerce Bank Limited, Baridhara Branch,
Dhaka.
M/s. Commercia Bank of Ceylo.n PLC, Gulshan Corporate Branch,
Dhaka.
M/s. Banku Asia Gulshah Branch, Bay's Galleria, 57 Gulshan
Avenue;y``Gulshan- Dhaka- 1212,

uent Factory Limited

^lc-wits.M. 11^,

A I c. M I S`. Crow n fo`wier Ge neration Limited

A/c. M,§.i crow n Polymer Baggihg LimitednCementConcrete&Building Products Limited
C. Sl row
Ii Office Address ^1 C. N I S. CloNI h Enterprise
Corporate :yp6lta Life Tower, 3rd & 6th Floor, Plot # 37, Road
\'tSDhaka-1
# 45 & 90, GliAsperpropertyCementFacto 212.
1-,S€bedule attached
iI Locati f the Risks
On0TypeofBusiness
Polymer Bagging Industry, Power Plant & Ready-mix
Industry
Policy NO.Periodof InsuranceNatureofInsurance PIL/EB/IAR/P- 0064/07/202128-07-2021to28-07-2022till 4.00 P.M. (BST)

Section: I-Property Damage All Risks Insurance (Material Damage)

Section.11-Machinery Break Down MBD Insurance
ConstructionInterestInsured 1st class (R C C 8 ing & Structure)
On Building, Plant & -Machinery, Raw Material Stock in Process andFinishedgoods,ElectricalEquipment&E-WiringasmoreparticularlydescribedintheattachedSchedulePropertywhichshallberead&

taken as forming part of this policy.

Scope of Cover This insurance co vers all risks of loss and damage, such as Fire or
Lighting, Riot &Flood,Cyclone,Wofwatertanksapinlabour.disturbaImpactbyanyroecificStallreikxce Damage, Earthquake (fire & shock), Tsunaml,indstorm,Burstingoverflowingdischargingorleakingparatusorpipes,Locked-outworkpersonstakingpartnces,MaliciousDamage,Explosion,AircraftDamage,advehicleoranimals&Burglaryexceptthosewludedbytheolicwordins. `\ osuran

aresp y page2ofl9 ('=PS

-`1*cO
`\\`%geee,ls
 Pragati Insurance Limited

M.I. Cement Factory LimitedCrownPowerGenerationLimited BDT 3,470 811229.00

Sum Insured
BDT 7 7063 313.00
Crown P ymer Bagginq Limited BDT 289 385 000.00
Crown Cement Concrete & Building BDT 141,480,691.00
Products Limited
Crown Enterprise BDT 50,000,000.004,028740233.00
Total BDT
Premium Rate 0.09500/o
Premium Calculation
3LeTm:uT5o,o 88=: 3,3;Z;3g:::i
Total Premium B DT. 4,401,398.00
Deductible Material Damage: 5% of the claim amount subject to minimum of BDT500,000&maximumofBDT5,000,000foreach&everyloss.MachineryBreakdown:5%ofthelossamountsubjecttominimumof

llt. 5 Iakhs each & every loss.CaptivePower:0.2°/oofSum-insured of Crown Power Generation

Limited.
Notification of Claim Written advice to be served to Praga ti Insurance Ltd., Head Office,
Pragati Insurance Bhaban,(15th floor), 20-21,Kawran Bazar, Dhaka ftyorElephantRoadBranch,t.PearsonsTower,229ElephantRoad,Dhaka,

Bangladesh.
Main Exclusions Interalia War, Terroris`'m, ^tsabotage, Explosion and collapse of Boiler,
Third Party Liability art d Business Interruption.
Subject to Annexed a) SubJ. e to Mortgad Clause attached
aauses/ConditionsII b) subjen(d to informa n Techn9Ipgy C arification clause as attached
C) Subj6''Ttt to all terrfi conditions and clauses are as per Policy
*` > I,.

wordlnd)Subj 9e /I)A Ay,toCyber ed

usi'on clause
e) Reins tement of Su in Insured Clause
e) The lowing Endo rsements are exclusively applicable for MBD
InsuraEndors
ent331 End orsement 332 & Endorsement 343.
e00 windy: an \o be incorDorated onlv claim for Fixed Assets:
I )Pl|[::eats:jtsBanks on 2. standard charfer€,d Bank, 67 Gulshan Avenue, Dhaka
3. Prime Bank Ltch, M"otiiheel Branch, Dhaka
I

In, witness whereof, the undersigned acting on ehalf of and under the authority of the company
has hereto set his hand at Dhaka the 15th day of July, 2021.

For and on behalf of

Pi.agati Insurance Llmited

Head Office, Dhaka.

Page 3 of 19

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 PRAGATI INSURANCE LIMITED
ELEPHANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of IAR including Machinery Breakdown policy No. PILAIBAAR/P- 0064/07/2021,
M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer Bagging Limited & M/s.
Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

A/C. CROWN POLYMER BAGGING LTD

SCHEDULE OF BUILDING

Name of Building No. of Storied Present value Proposed Value

Main Factory Building 2- Storied 46,340,000 46,340,000
Sub-Station/Compressor Single Storied
Total 46£40,000 46'340'000

A/C. CROWN POLYMER BAGGING LTD.

SCIIEDULE OF E-lh/IRING

Name of Building No. of Storied Present value Proposed Value

I-Wring 8,500,000 7,650,000
Total 8'500,000 7,650'000

A/C. CROWN POLYMER BAGGING LTD.

SCHEDULE OF ELECTRICTRIC EQUIPMENT

Name of Building No. of Storied Present value Proposed Value

Electric Equipment 21,250,000 19,125,000
Total 21250,000 19,125,000
 PRAGATI INSURANCE LIMITED
ELEPHANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of IAR including Machinery Breakdown policy No. PILflB/IAR/P-
0064/07/2021, M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer
Bagging Limited & M/s. Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

SCHEDULE OF PROPERTIES of A/C. M.I. CEMENT FACTORY LTD.

Present Proposed
1. Building (Uni-I, 11 & Ill) Tk. 57,855,000 54,962,250

Building (Unit- IV) Tk. 119,273,450 113,309,778

Building (Unit- V) 242,923,612 230,777,431

Sub Total Tk. 420.052.062 222.049,459_

2. Machinery (Unit-I,11, & Ill) Tk. 87,476,679 78,729,011

Machinery (Unit- IV) 207,874,350 187,086,915

Machinery (Unit- V) 932,816,781 839,535,103

Oners 171,906,142

Sub Total Tk. 1228.167.810 1277257,171

3. Electrical Equipment (Unit-I, H,& III) 100,895,000 90,805,500
Electrical Equipment (Unit- IV) 34,425,000 30,982,500
Electrical Equipment (Unit- V) 12:J ,I n7 ,J 50 131,869,975

CThers 16,575,000 20,846,625

sub Total Tk, 278jJ72.75o __Z74,504,60o_
4. Raw Materials for MICEL: Sub Total Tk. 1.500.000.000 1520,000,000
Total 3.427.192.621 3,470$11£29
 PRAGATI INSURANCE LIMITED
ELEPIIANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of TAR including Machinery Breakdown policy No. PILAIB/IAR/P-
0064/07/2021, M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer
Bagging Limited & M/s. Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

M. I. Cement Factory Ltd.

(Details of Electrical Equipments)

Present Insured osed Insured

11,475,000 10,327,500
7,650,000 6,885,000
11,475,000 10,327,500
9,945,000 8,950,500
3,825,000 3,442,500
44'370,000 39,933,000

Present Insured osed Insured

4,590,000 4,131,000
3,060,000 2,754,000
3,060,000 2,754,000

680,000 612,000
765,000 688,500
7,650,000 6,885,000
19,805,000 17,824,500
-un No. 02
Present Insured osed Insured

1,912,500 1,721,250

765,000 688,500
1,147,500 1,032,750
9,180,000 8,262,000
13,005,000 11,704,500
rm No. 03
Present Insured osed Insured

1,912,500 1,721,250
3,825,000 3,442,500
1,912,500 1,721,250
 3,060,000 2,754,000
h
23,715'000 21,343,500

P rm No. 04 osed Insured

Present Insured

3,442,500 3,098,250

6,120,000 5,508,000

I,912,500 1,721,250

19,125,000 17,212,500

3,825,000 3,442,500

34'425'000 30,982'500

D -un NO. 05 osed Insured

Present Insured
31,874,592 28,687,133

2,992,000 2,692,800
11,507,606 10,356,845

16,258,460 14,632,614

6,800,000 6,120,000

27,472,000 24,724,800
8,889,092 8,000,183

15,572,000 14,014,800

5,712,000 22,640,800

127,077,750 131,869,975

D packing House-( 1+2+3+4+5) osed Insured

Quanti Present Insured
2,550,000 2,295,000

Unloadin - 1+2+3
Present Insured osed Insured
Quanti
1,275,000 1,147,500

-I Genset osed Insured

Quanti Present Insured
8,500,000 7,650,000

4,250,000 9,754,125

12'750,000 17,404,125

278,972,750 274,504,600

SCHEDULE OF STOCKS
A'C. CROWN CEMENT CONCRETE & BUILDING PRODUCTS LTD.
Present Value Proposed Value
19,800,000.00 40,000,000.00
.75 inch stone chips
.50 inch stone chips
stone chips
Cement

Admixture
 19,800,000.00 40'000,000.00
SL Description Present Value Proposed Value
1 .75 inch stone chips - 50,000,000.00
2 .50 inch stone chips
3 Single stone chips
4 Cement
5 Sylhet sends
6 Admixture
- 50,000,000.00
 PRAGATI INSURANCE LIMITHD
ELEPHANT ROAD BRANCH, DHAKA

ScheduleattachingtoandfomingpatofIARincludingMachineryBreakdounpolicyNo.PILAIBflARIf-0064/07/2021,
ju.''s.M.I.CementFactoryLimited,M/s.CrounPowerGenerationLimited,Ws.CrounPolymerBaggingLimited&M/s.
Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

A/C. CROWN CEMENT CONCRETE & BUILDING PRODUCTS LTD.

SCHEDULE OF BUILDING

of Construction Present Value Value

Name of Building
3rd Class Construction 9,113,863.85 8,658,170.66
Security Office
Transport Building 2nd Class Construction
Laboratory Building 2nd Class Construction
Generator Building 1 st Class Construction
Store Building 2nd Class Construction
AIser Carp 2nd Class Construction
Office 2nd Class Construction
Dormitory 2nd Class Construction
Prayer Room 2nd Class Construction
Funiture & Fixture
Total 9,113,863.85 8,658,170.66
 PRAGATI INSURANCE LIMITED
ELEPHANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of IAR including Machinery Breakdown policy No. PILAIBAAR/P-
0064/07/2021, M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer
Bagging Limited & M/s. Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

A/C. M. I. CEMENT FACTORY LTD. LIST OF MACHINERIES (5th Unit)

Name of Assets Present Value osed Value

Belt conveyor's 15,120,000.00 13,608,000.00
Stacker & reclamer 44,928,000.00 40,435,200.00
Dust collector's 17,640,000.00 15,876,000.00
Bucket elevator,'s-belt 15,120,000.00 13,608,000.00
chain bucket elevator 7,413,696.00 6,672,326.40
Rootls blower's 1,656,000.00 1,490,400.00
Coal Grinding Mill 34,256,304.00 30,830,673.60
Seperator 35,442,000.00 31,897,800.00
294,678,000.00 265,210,200.00
14,556,744.00 13,101,069.60
PSC Silos equipments 61,51 I,184.00 55,360,065.60
Slag powder silos equipments 42,071,184.00 37,864,065.60
Mixing Tower Equipment & 20,728,008.00 18,655,207.20
Clinker silos equipment 52,616,781.00 47,355,102.90
cooling tower & Pumps house 8,640,000.00 7,776,000.00
Compressors 10,800,000.00 9,720,000.00
FC -converters 15,768,000.00 14,191,200.00
Jetty Crane 80,280,000.00 72,252,000.00
Barge Loader 33,660,000.00 30,294,000.00
Packing machine 103,050,000.00 92,745,000.00
Excavators 22,880,880.00 20,592,792.00
781.00 102.90

A/C. M. I. CERENT FACTORY LTD. SCHEDULE OF MACHINERIES

Description Present Value Proposed Value

Machinery (Unit- I,11,Ill) grJ,4J6,6M9 78,729,011

Machinery (Unit- IV) 207,874,350 187,086,915
Machinery (Unit- V) (As attached) 932,816,781 839,535,103

Other Macheneri6s 171,906,142

1,228,167,810 I,277,257,171
 PRAGATI INSURANCE LIMITHD
ELEPHANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of TAR including Machinery Breakdown policy No. PILAIB/IAR/P-
0064/07/2021, M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer Bagging
Limited & M/s. Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

A/C. CROWN POLYMER BAGGING LTD.

SCHEDULE OF MACHINERIES

SL Description Quantity Present Value Proposed Value

1 Chiller Frigel (180) 01 set 240,300,000 216,270,000
2 Chiller Frigel (360) 01 set
3 Compresssor Atlas Copo (GA75) 01 set
4 Sub-station (2000 KVA) 01 set
5 Tape Stretching Line Star Ex 14000S 01 set
6 Extrusion Coating Line Stacotec 1500 01 set
7 Weaving Loom Omega 1000 16 sets
8 Printing Machine RemFlex 6200 01 set
9 AD Starkon 60 01 set
10 Roll Slitter 01 set
Total 240'300'000 216,270,000
 PRAGATI INSURANCE LIMITED
ELEPIIANT ROAD BRANCH, DHAKA

Schedule attaching to and forming part of IAR including Machinery Breakdown policy No. PILflBAAR/P-
0064/07/2021, M/s. M.I. Cement Factory Limited, M/s. Crown Power Generation Limited, M/s. Crown Polymer
Bagging Limited & M/s. Crown Cement Conerate & Building Products Ltd. & M/s. Crown Enterprise

A/C. M. I. CEMENT FACTORY LTD. SCHEDULE 0F STOCKS (RAW MATERIALS)

SL Description Present Value Proposes Value

1 Clinker 1,500,000,000.00 1,500,000,000.00
1 Gypsum
J Slag
Fly Ash
5 Lime Stone
Granding Aid
Izonil
8 Bag
Raw Materials of PP Bags 20,000,000.00
Total 1'500,000'000.00 1'520'000,000.00

A/C. CROWN POWER GENERATION LTD.

SL Description Present Proposed Value

1 Building 5,271,066 5,007,513

2 Machinery (All Electrical) 75,848,210 72,055,800

Sub Total 81,119,277 77,063,313

A/C. CROWN POLYMER BAGGING LTD. SCHEDULE OF PRPOERTIES

SL No. Description Present Value Proposed Value

Main Factory Building 46,340,000.00 46,340,000.00
Machinery 240,300,000.00 216,270,000.00
Electrical Equipment 21,250,000.00 19,125,000.00

Electrical Cable/Wiring 8,500,000.00 7,650,000.00

Raw materials 35,000,000.00
Work in Process 12,000,000.00
Finished Goods 25,000,000.00
Sub total 388,390,000.00 289,385,000.00
 A/C. CROWN POLYMER BAGGING LTD. SCHEDULE OF STOCKS

SL Description Present Value Proposes Value

1 Polypropylene Yam Grade 35,000,000.00
2 Polypropylene Lamination Grade
(Coating)
3 Calcium Carbonate (Ca Co3)
4 Master Beige
5 Low Density Polyethylene (LDPE)
6 Printing Ink
7 Thimer
Total 35'000,000.00 -

A/C. CROWN CEMENT CONCRETE & BUILDING PRODUCTS LTD.

SL No. Description Present Value Proposed Value

a) Building (as Attached) 20,330,383.00 8,658,170.66
b) Machinery (as Attached) 102,482,480.00 92,822,520.40
) Stocks (as Attached) 19,800,000.00 40,000,000.00
Sub total 142,612,863.00 141,480,691.06

A/C. CROWN CEMENT CONCRETE & BUILDING PRODUCTS LTD.

SCHEDULE OF MACHINERIES

Name of Machineres & Equipment Present Value Proposes Value

Stationery Concrete Batching Plant 92,234,232 92,822,520

with all
Equipment & Accessories
Putzmeister Pump/ Mixture
Pay Loader/Wheel Loader
Lab oratory Equipments
Mixture Trucks
Sub-Station
Electrical Equipments
Diesel Generators
Deep Tube Well & Pumps
Air Compressor
Fuel Dispenser
Weight Bridge
92,234,232 92,822,520
 Pragati Insurance Limited

SEC-TloN: I pRopERrv DAMAGE ALL RISKs INsuRANCE /MATERIAL DAMAGEI

The insurer agrees (subject to the terms, conditions and exclusions contained herein or endorsed
or otherwise expressed hereon which shall so far as the nature of them respectively will permit be
deemed to be conditions precedent to the right of the insured to recover hereunder) that if after
payment of the premium, any of the property insured be accidentally physically lost destroyed or
damaged other than by an excluded cause at any time before 4 o'clock in the aftemcon of the last
day of the period of insurance or any subsequent period in respect of which the insured shall have
paid and the insurer shall have accepted the premium required for the renewal of this policy.

The insurer will pay to the insured the value of the property at the time of the happening of its
accidental physical loss or destructl.on or the amount of such accidental physical damage
(accidental physical loss, destruction or damage being hereafter termed damage) or at its option
reinstate or replace such property or any part thereof.

Pprovided that the liability of the insurer in respect of any one loss or in the aggregate in any one
period of insurance shall in no case exceed.

(i) In respect of each item the sum expressed in the schedule to be insured thereon or
in the whole the total sum insur

(ii) Any limit of liability show

Or such other sum or sums as in by memorandum hereon or attached

hereto signed by or on behalf of

EXCLUSIONS

A. EXCLUDED CAUSES

This poliay does not cove

Damage to the property i

a) (i) Faulty or defective des

gradual deterioration, deforma istortion or wear and tear

(ii) Interruption of the water supply, gas, electricity or fuel systems or failure of the
effluent disposal systems to and from the premises

Unless damage by a cause not excluded in the policy ensues and then the insurer shall be
liable only for such ensuing damage.

b) (i) collapse or cracking of building

(ii) Corrosion, rust, extremes or changes in temperature dampness, dryness, wet or dry
rot fungus, shrinkage, evaporation, loss of weight, pollution, contamination, change in
color flavors texture or finish action of light vermin insects marring or scratching.

Unless such loss is caused directly by damage to the property insured or to premises
containing such property by a cause not excluded in the policy.

c) (i) Theft except from : building and then only if there is violent for forcible entry to or
exit such building

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 Pragati Insurance Limited

(ii) Acts of fraud or dishonesty

(iii) Disappearance unexplained or inventory shortage, misfiling or misplacing of

information, shortage in supply or delivery of materials or shortage due to
clerical or accounting error.

(iv) Explosion, cracking, fracturing, collapse or overheating of boilers,

economizers, vessels, tubes or pipes nipple leaking or the failure of welds of
boilers.

(v) Mechanical or electrical breakdown or derangement of machinery or

equipment

(vi) Bursting, overflowing, discharging or leaking of water taps, apparatus or

pipes when the premises are empty or disused.

Unless

(i) Damage by a cause not excluded in the policy ensues and then the insurer

(b) Cessation of work, delay or loss of market or any other consequential or

indirect loss of any kind or description whatsoever

Damage occasioned directly or indirectly by or through or in consequence of any of

the following occurrence, namely

(a) War, ihvasion, act of foreign enemy, hostilities or warlike operation

(whether war be declared or not) civil war
(b) Mutiny, civil commotion assuming the proportions of or amounting to a
popular rising, military rising, insurrection, rebellion, revolution to military or
usurped power.

(c) Acts of terrorism committed by person or persons acting on behalf of or in

connection with any organization. This Exclusion A3 (c) shall not a
damage by fire.

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 Pragati Insurance Limited

For the purpose of this exclusion A3(c) ``terrorism" means the use of
violence for political for ends and includes the use of violence for the
purpose of putting the public or any section of the public in fear.

(d) (i) permanent or temporary dispossession resulting from confiscation,

nationalization, commandeering or requisition by any lawfully
constituted authority.

(ii) Permanent or temporary dispossession of any building resulting from

the unlawful occupation of such building by any person.

Provided that the insurers are not relived of any liability to the insured in respect of
damage to the property insured occurring before dispossession or during temporary
dispossession which is otherwise insured by this policy.

(e) The destruction of property by order of any public authority

In any action, suit or other proceeding where the insurer alleges that by reason of
the provisions of exclusion A3(a), (b) and (c) above any loss, destruction or
damage is not cover by this urance the burden of proving that such loss,
destruction or damage is cOv 11 be upon the insured

damage directly or i or arising or in consequence of or

contributed to by

(a) Nuclear we s mate

(b) Ionizing radiatfons or c adioactivity from any nuclear fuel or
from any n tion of nuclear waste from the
combustio e purpose of this Exclusion A4 (b)
combustio ing process of nuclear fission.

8, EXCLUDED PROPERTY

This Policy does not cover

1. (a) money, cheques, s onds, credit cards, securities of any description,

jewellery, precious st precious metals, bullion, furs, curiosities, rare
books or works of art unless specifically mentioned as insured by this policy
and then only in respect of the perils specified below:-

(b) Fixed glass

(c) class (other than fixed glass) china earthenware, marble or other fragile or
brittle objects

(d) . ElectrQnic installations, computers and data processing equipment

But this shall not exclude damage (not otherwise excluded) caused by fire,
lightning, explosion, aircraft, riot, strikers, locked-out works persons taking part in
labour disturbances, malicious persons, impact by any road vehicle or animals,
earthquake, windstorm, flood, bursting, overflowing, discharging or leaking of
water tanks, apparatus or pipes.

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 Pragati Insurance Limited

2. Unless specifically mentioned as insured by this policy goods held in trust or on

commission, documents, manuscripts, business books, computer systems, records,
patterns, models, moulds, plans, designs, explosives

(a) Vehicles licensed for road use (including accessories thereon) caravans,
trailers, railway locomotives or rolling stock, watercraft, aircraft, spacecraft or the
like.

(b) Property in transit other than within the premises specified in the schedule

(c) Property or structures in course of demolition, construction or erection and

materials or supplies in connection therewith

(d) Land (including top-soil back-fill drainage or culverts) driveways,

pavements, roads, runways, railway lines, dams, reservoirs, canals, rigs
wells, pipelines, tunnels, bridge, docks, piers, jetties, excavation, wharves,
mining property, underground off-shore property

(e) Livestock growing crops or trees

(f) Property damaged as undergoing any process

(g) Machinery or resisting (including dismantling

and re-erecti o such operations

(h) Property u testing, installation or servicing

including rjals a fore jf .directly attributable to the
operations reon unless damage by a cause not
otherwise he insurer will be liable for such
ensuing lo
(i) Property in

Damage to prope ime of the happening of such damage is insured

by or would but for f this policy be insured by any marine policy or
policies except in respe cess beyond the amount which would have been
payable under the marine policies had this insurance not been effected.

Damage to machinery, boiler, economizers, turbines or other vessels machinery or

apparatus in which pressure is used or their contents resulting from their explosion
or rupture.

UNDER INSURANCE
If the sum insured under this policy be found to be less than 85% of the value of the
property at the time of loss, then the insured shall be considered as being his own insurer
for the entire difference, and shall bear a ratable proportion of the loss accordingly. Every
item, if more than one, of the policy shall be separately subject to this condition.

DEDUCTIBLES
This policy does not cover the amounts of the deductibles stated in the schedule in respect
of each and every loss as ascertained after the application of all other terms and conditions
of the policy including any condition of average.

Warranted that during the' currency of the policy the insured shall not effect insurance in
respect of the amounts of the deductjbles stated in the schedule.

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 Pragati Insurance Limited

GEN ERAL CONDITIONS

1. LDi:NPE;[#t3gschedu|e (which forms and integral part of this policy) ShaH be

read together as one contract and words and expressions to which specific
meanings have been attached in any part of this policy of the schedule shall bear
such specific meanings wherever they shall appear.

2- |¥]t::rEsfeRIa:J':rteria| misdescription by the insured or any one acting on his

behalf of any of the property hereby insured, or of any building or place in which
such property in contained, or of the business or premises to which this insurance
refers or any misrepresentation as to any fact material to be known for estimating
the risk or any omission to state such fact, the insurer shall not be liable under this
policy for the property affected by any such misdescription, misrepresentation or
omission.

3. CAN CELLATI0N

This insurance may be ter
which case the insurer wi
policy has been in forc
insurer on notice to
shall be liable to
unexpired term fr e date
t any time at the request of the insured, in
stomary short period rate for the time the
also be terminated at the option of the
the insured, in which case the insurer
proportion of the premium for the
e cancell n.

4. FORFEITURE

All benefit under t

(a) If anyclai de und e in any respect fraudulent or if any

false decla r used in support there of, or if any fraudulent
means or ( y the insured or any one acting on his behalf to
obtain any bene

(b) Ifanyclaimbemade ejected and an action or suit be not commenced

within three months after such rejection, or (in the case of any arbitration
taking place in pursuance of condition No. 7 of this policy) within three
months after the arbitrator or arbitrators or umpire shall have made their
award
5. SUBROGATION
Any claimant under this policy shall, at the expense of the insurer do, and concur in
doing and permit to be done all such acts and things as may be necessary or
reasonably required by the insurer for the purpose of enforcing any rights and
remedies, or, of obtaining relief or indemnity from other parties to which the insurer
shall be or would become entitled or subrogated, upon its paying for or making
good any loss or damage under this policy, whether such acts and things shall be
or become necessary or required before or after his indemnification by the insurer.

6. CONTRIBUTION
I`f`a-t--th`e--ti-in-e-6f any loss or damage happening to any property hereby insured,
there be any oth.er -subsisting insurance or insurances whether effected
by the
insured or by any other person or persons covering either such loss Or any;

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 Pragati Insurance Limited

or the same property the insurer shall not be liable to pay or contributed more than
its ratable proportion of such loss or damage.

7. ARBITRATION

If any difference shall arise as to the amount to be paid under this policy such
difference shall independently of all other questions be referred to the decision of
an arbitrator, to be appointed in writing by the parties in difference or if they
cannot agree upon a single arbitrator, to the decision of two disinterested persons
as arbitrators, of whom one shall be appointed in writing by each of the parties
within two calendar months after having been required to do so in writing by the
other party. In case either party shall refuse or fail to appoint an arbitrator within
two calendar months after receipt of notice in writing requiring an appointment, the
other party shall be at liberty to appoint a sole arbitrator and in case of
disagreement between the arbitrators the decision shall be referred to the decision
of an umpire, who shall have been appointed by them in writing before entering on
the reference and who shall sit with the arbitrators and preside at their meetings.
The death of any party shall not revoke or affect the authority or powers of the
arbitrators, arbitrators or umpire respectively; and in the event of the death of an
arbitrator or umpire, another s each case be appointed in his stead by the
party or arbitrators (as the y be) by whom the arbitrator or umpire so
dying was appointed. Th reference and of the award shall be in the
discretion of the arbitr making the award and it is hereby
expressly stipulated be a condition precedent to any right
of action or suit u by such arbitrator or umpire of the
amount of the los amage puted s e first obtained.

8- ALTERA-rloNs A

Under any of the surance ceases to attach as regards

the property affe Ore the occurrence of any loss or
damage obtains t anction signified by endorsement upon the
policy, by or on be

(a) If the trade or e credit on be altered, or if the nature of the

occupation of or o instance affection the building or containing the
insured property be c d in such a way as to increase the risk of loss or
damage
(b) If the building insured or containing the insured property becomes
uncoupled and so remains for a period of more than 30 days
(c) If the property insured be removed to any building or place other than that
in which is started herein to be insured
(d) If the interest in the property insured passes from the insured otherwise
than by will or operation of law

9. CLAIM S `
If any event giving rise to or likely to give rise to a claim under this policy comes to
his knowledge the insured shall

(a) Immediately

(i) Take steps to minimize the loss or damage and recover any missing
Property
(ii) Give notice in writing to insured and

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 Pragati Insurance Limited

(iii) Give notice to the police if the event be theft or suspected theft or
willful or malicious damage.

(b) Within 30 days or such further time as the insurer may in writing allow
deliver to the insurer

0) A claim in writing for the damage containing as particular an account as

may be reasonably practical of all the several articles or items of property
lost or damage thereto respectively, having regard to their value at the time
of the loss or damage

(ii) Particulars of all other insurance's if any

The Insured shall at all times at his own expense produce, procure and give to the
insurer all such further particulars, plans, specifications, books, vouchers, invoices,
duplicates or copies thereof, documents, proofs and information with respect to the
claim and the origin and cause of the loss or damage and the circumstances under
which the loss or damage occurred, and any matter touching the liability or the
amount of liability of the insurer as may be reasonably required by or on behalf of

The powers conferred by this condition shall be exercisable by the insurer at any
time until notice in writing is given by the insured that he makes no claim under
this policy or, if any claim is made, until such claim is finally determined or
withdrawn and the insurer shall not by any act done in the exercise or purported
exercise of its powers hereunder, incur any liability to the insured or diminish its
rights to rely upon any of the conditions of this policy in answer to any claim.

If the insured or any person acting on his behalf shall not comply with the
requirements of the insurer, or shall hinder or obstruct the insurer in the exercise of
its powers hereunder, all benefit under this policy shall be forfeited.

The insured shall not in any case be entitled to abandon any property to the insurer
whether taken possession of by the insurer or not

11. REPAIR AND REPLACEMENT.

The insurer may at. its option, repair or replace the property damaged or destroyed,
or any part thereof, instead of paying the amount of the loss or damage,
join with any other Company or Insurers in so doing but the circumstance
and in reasonably sufficient manner, and in no case shall the insurer be
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 Pragati Insurance Limited

expend more in repair than it would have cost to repair such property as it was at
the time of the occurrence of such loss or damage nor more than the sum insured
thereon.
If the insurer so elects to repair or replace any property the insured shall, at his
own expense, furnish the insurer with such plans, specifications.

Measurements, quantities and such other particulars as the insurer may require,
and no acts done, or caused to be done by the insurer with a view to repair or
replacement shall be deemed an election by the insurer to repair or replace.

If any case the insurer shall be unable to repair replace the property hereby
insured, because of any municipal or other regulations in force affecting the
alignment of streets, or the construction of buildings, or otherwise, the insurer
shall, in every such case, only be liable to pay such sum as required to repair or
replace such property if the same could lawfully be repaired to its former condition.

12. TIME LIMIT

In no case whatever shall the insurer be liable for any loss or damage after the
expiration of twelve months from the happening of the loss or damage unless the
claim is the subject to pending action or arbitration.

13. REASONABLE PRECAU

The insured shall proper state of repair and take all

reasonable precau reto.

Pollution or Conta

EXCLUSIONS
Notwithstanding anythin rein, this policy does not cover loss
or destruction or damag amination except (unless otherwise
excluded) destruction of jred caused by

(a) Pollution or con ults from fire, lightning, explosion,

aircraft or other a
strikers, locked-out
persons other than t
discharging or leaking of
impact by any road vehicle or
rticles dropped there from, riot, civil commotion,
ns taking part in labour disturbances, malicious
rthquake, storm, flood, bursting, overflowing
anks, apparatus or pipes, sprinkler leakage or
al

(b) Any of the perils listed in (a) above which itself results from pollution or
contamination

DEBRIS REMOVAL
The company (Insurer) will not pay for any costs or expenses

(1) Incurred in removing debris except from the site of such property destroyed or
damaged and the area immediately adjacent to such site.

(2) Arising from pollution or contamination of property not insured by this policy.

In witness where of the under signed acting on behalf of an under the authority of the Company
has hereto set his hand at Dhaka the 15th day of July, 2021.

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 Pragati Insurance Limited

Sectjoh: 11 (Machiherir Breakdown Insuraiic®MBD)

Whereas the Insured named in the Schedule hereto has made to the Pragati Insurance
Limited,(hereinafter called 'the Insurers') a written proposal by completing a questionnaire which,
together with any other statements made in writing by the Insured for the purpose of this Poliey,
is deemed to be incorporated herein,

Now this Policy of Insurance witnesses that, subject to the Insured having paid to the
Insurers the premium mentioned in the Schedule and subj.ect to the terms, exclusions, provisions
and conditions contained herein or endorsed hereon.

The Insurers hereby agree with the Insured that if at any time during the period of insurance
stated in the Schedule or during any subsequent period for which the Insured pays and the
Insurers may accept the premium for the renewal of this Policy, the items (or any part thereoo
entered in the Schedule, whilst on the premises mentioned therein, suffer any unforeseen and
sudden physical loss or Machinery Breakdown or damage from causes such as defects in casting
and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill,
carelessness, shortage of water in boilers, physical explosion, tearing apart on account of
centrifugal force, short circuit, storm, or from any other cause not specifically excluded
hereinafter, in a manner necessitating repair o placement.

The Insurers will indemnify the In of such loss or damage, as hereinafter

provided, by payment in cash, replac e Insurers' option) up to an amount not
exceeding in any one year of f the items specified in the Schedule
the sum set opposite thereto an I sum expressed in the Schedule as
insured hereby.

This policy shall apply to the I completion of their performance

acceptance tests whether they ejng dismantled for the purpose of
cleaning or overhauling, or in th rations themselves, or when being
shifted within the premises, or du

Exclusions
The Insurers shall not be liable for

1. The deductible stated in the Schedule t orne by the Insured in any one occurrence; if
more than one item is lost or damaged in one occurrence, the Insured shall not, however, be
called upon to bear more than the highest single deductible applicable to such items;

2. Loss of or damage to exchangeable tools, e.g. dies, moulds, engraved cylinders, parts which
by their use and/or nature suffer a high rate of wear or depreciation, e.g. refractory linings,
crushing hammers, objects made of glass, belts, ropes, wires, rubber tires, operating media, e.g.
lubricants, fuels, catalysts;

3. loss or damage due to fire, direct lightning, chemical explosion (except flue gas explosions in
boilers), extinguishing of a fire or subsequent demolition, aircraft or other aerial devices or articles
dropped there from, theft, burglary or attempts thereat, collapse of buildings, flood, inundation,
earthquake, subsidence, landslide, avalanche, hurricane, cyclone, volcanic eruption or similar
natural catastrophes;

4. Loss or damage for which a supplier, contractor or repairer is responsible either b law or
under contract;

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 Pragati Insurance Limited

5. Loss or damage caused by any faults or defects existing at the time of commencement of this
Policy within the knowledge of the Insured or his representatives, whether such faults or defects
were known to the Insurers or not;

6. Loss or damage arising out of the willful act or gross negligence of the Insured or his
representatives;

7. Any consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or
not), civil war, rebellion, revolution, insurrection, mutiny, riot, strike, lock-out, civil commotion,
military or usurped power, acts of a group of malicious persons or persons acting on behalf of or
in connection with any political organization, conspiraey, confiscation, commandeering, requisition
or destruction of or damage to property by order of any government de jury or de facto by any
public authority;

8. Any consequence of nuclear reaction, unclear radiation or radioactive contamination;

9. Loss or damage as a direct consequence of the continual influence of operation (eg wear and
tear, cavitation's, erosion, corrosion, rust, boiler scale);

10. Consequential loss or liability of any kin r description, any payments over and above the
indemnity for material damage as provided

In any action, suit or other proceedi allege that, by reason of the provision
of Exclusion 7 above, any loss or his Poliey, the burden of proving that
such loss or damage is covered s

Provisions

Memo 1 -Sum Insured

It shall be a requirement of this equal to the cost of replacement of

the insured machinery by new in
replacement including, e. g, freig
sum js less than the amount requir
as the sum insured bears to the amou
be subject to this condition separately
d capacity, which means its cost of
if any, and cost of erection. If the
d, the Insurers shall pay only in such proportion
to be insured. Every item if more than one shall

Memo 2 - Basis of Indemnity

a. In cases where damage to an insured item can be repaired - the Insurers shall pay expenses
necessarily incurred to restore the damaged machine to its former state of serviceability plus the
cost dismantling and re-erection incurred for the purpose of effecting the repairs as well as
ordinary freight to and from a repair shop, customs duties and dues, if any, to the extent such
expenses have been included in the sum insured. If the repairs are executed at a workshop owned
by the Insured, the Insurers shall pay the cost of materials and wages incurred for the purpose of
the repairs plus a reasonable percentage to cover overhead charges.

No deduction shall be made for depreciation in respect of parts replaced, but the value of any
salvage shall be taken into account.

If the cost of repairs as detailed hereinabove equals or exceeds the actual value of the machinery
insured immediately before the occurrence of the damage, the item shall be
destroyed and settlement shall be made on the basis provided for in b below.

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 Pragati Insurance Limited

b. In cases where an insured item is destroyed-the Insurers shall pay the actual value of the item
immediately before the occurrence of the loss, including charges for ordinary freight, cost of
erection and customs duties, if any, provided such expenses have been included in the sum
insured, such actual value to be calculated by deducting proper depreciation from the replacement
value of the item. The Insurers shall also pay normal charges for the dismounting of the
machinery destroyed, but the salvage shall be taken into account.

Any extra charges incurred for overtime, night work, and work on public holidays, and express
freight shall be covered by this Policy only if especially agreed in writing.

The cost of any alterations, additions, improvements or overhauls shall not be recoverable under
this policy.

The cost of any provisional repairs shall be borne by the Insurers if such repairs constitute part of
the final repairs and do not increase the total cost of repair.

The Insurers shall make payments only after being satisfied by production of the necessary bills
and documents that the repairs have been affected or replacement has taken place, as the case
may be.

Conditions=

1. The due observance and fulfillm this Policy, in so far as they relate to
anything to be done or complied truth of the statements and answers
in the questionnaire and propo 11 be a condition precedent to any
liability of the insurers.

2. The Schedule shall be deem d form .part of this poliay and the
expression `this poliay'', wherev be read as including the Schedule.
Any word or expression to which ttached in any part of this policy or
of the schedule shall bear such

3. The Insured shall at his ow all reasonable precautions and comply with all
reasonable recommendations of th event loss or damage and comply with statutory
requirements and manufacturers' reco

4. a. Representatives of the Insurers shall y reasonable time have the right to inspect and
examine the risk and the insured shall provide the representatives of the insurers with all details
and information necessary for the assessment of the risk

b. the Insured shall immediately notify the insurers either by teletype (telex, telefax, telegram) or
by telephone confirmed in writing of any material change in the risk and cause at his own expense
such additi.anal precautions to be taken as circumstances may require to ensure safe operation of
the insured items, and the scope of cover and/or premium shall, if necessary, be adjusted
accordingly. No material alteration shall be made or admitted by the insured whereby the risk is
increased, unless the contin+lance of the insurance is confirmed in writing by the insurers.

5. In the event of any occurrence which might give rise to a claim under this policy, the insured
shall

a. Immediately notify the insurers either by teletype (telex, telefax, telegram) or by telephone
confirmed in writing giving an indication as to the nature and extent of the loss or damage

b. take all reasonable steps within his power to minimize the extent of the loss or damage

Page 14 of 19
 Pragati Insurance Limited

c. preserve the parts affected and make them available for inspection by a representative or
surveyor of the insurers

d. furnish all such information and documentary evidence as the insurers may require

The insures shall on no account be liable for loss or damage of which no notice has been received
by the insurers within 14 days of its occurrence. Upon notification being given to the insurers
under this condition, the insured may carry out repairs of any minor damage or replace items
which have sustained any minor damage; in all other cases a representative of the insurers shall
have the opportunity of inspecting the loss or damage before any repairs or alterations are
effected. If a representative of the insurers does not carry out the inspection within a period of
time which could be considered adequate under the circumstances, the insured shall be entitled to
proceed with the repairs or replacement.
The liability of the insurers under this policy in respect of any insured item shall cease if said item
is kept in operation after a claim without being repaired to the satisfaction of the insurers, or if
temporary repairs are carried out without the insurers consent

6. The insured shall at the expense of the insurers do and concur in doing and permit to be done
all such acts and things as may be necessary or required by the insurers in the interest of any
rights or remedies, or of obtaining relief or from parties (other than those insured under
this policy) to which the insurers are or entitled or which is or would be subrogated
to them upon their paying for or damage under this poliey, whether such
acts and things are or become or after the insured's indemnification
by the insurers.

7. If any difference arises as to th mount`t this policy (liability being otherwise

admitted), such difference shall
writing by the parties in differenc
of two arbitrators one to be
after having been required in wri
not agree, of an umpire to be ap
the reference. The umpire shall sit
of an award shall be a condition prece
of an arbitrator to be appointed in
n a single arbitrator, to the decision
e parties, within one calendar month
otod parties, or in case the arbitrators do
g by the arbitrators before the latter enter upon
ators and preside at their meetings. The making
right of action against the insurers.

8. The Insurers shall be entitled to withhold indemnification

a. If there are doubts regarding the insured's right to receive the indemnity, pending receipt by
the insurers of the necessary proof.

b. If in connection with the claim an examination by the police or an inquiry under criminal law
has been instituted against the insured, pending completion of such examination or inquiry

9. a. If the proposal or declaration of the insured is untrue in any material respect, or if any claim
made is fraudulent or substantially exaggerated, or if any false declaration or statement is made in
support thereof, then this policy shall be void and the insurers shall not be liable to make any
payment hereunder.

b. In the event of the insurers disclaiming liability in respect of any claim and if an action or
not commenced within three months after such disclaimer or (in the case of
Page 15 of 19
 Pragati Insurance Limited

place in pursuance of Condition 7 of this policy) within three months after the arbitrators or
umpire have made their award, all benefit under this policy in respect of such claim shall be
forfeited.

10. If at the time any claim arises under this policy there is any other insurance covering the
same loss or damage, the insurers shall not be liable to pay or contribute more than their ratable
proportion of any claim for such loss or damage

11. This policy may be terminated at the request of the insured at any time, in which case the
insurers will retain the customary short-period rate for the time this policy has been in force. This
policy may equally be terminated at the option of the insurers by seven days' notice to that effect
being given to the insured, in which case the insurers will be liable to repay on demand a ratable
proportion of the premium for the unexpired term from the date of cancellation less any
reasonable inspection charges the insurers may have incurred.

12. The insurers shall not be liable to pay interest other than interest for default.

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 Pragati Insurance Limited

Endorsement 331: Depreciation Adjustment for the Rewinding of Electric Machines

(e.g. Motors, Generators, Transformers)

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and
conditions contained in the Policy or endorsed thereon, the following shall apply to this insurance:

If in the event of partial damage to electrical machines - the repair necessitates the rewinding of
electric coils, the amount indemnifiable in respect of the pure work of rewinding and relating shall
be calculated subject to an annual rate of depreciation to be determined at the time of the loss in
the form of a ``new for old deduction'', this rate being not less than 5 % per annum, but not more
than 60 0/oin total.

Endorsement 332: Depreciation Adjustment for Repairs to Combustion Engines (e.g[

Diesel, Gas Engines)

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and
conditions contained in the Policy or endorsed reon, the following shall apply to this insurance:

In the event of damage to cylinder ds inclusive of accessories and pistons, the

amount indemnifiable in respect of t d shall be depreciated at an annual rate
to be determined at the time of t less than 10 °/o per annum, but not
more than 60 % in total.

Endorsement 343: Overhau ove 750 Iowr for motors with 2

poles and above 1,000 ki^r fo

It is agreed and understood th therwis e terms, exclusions, provisions and

conditions contained in the polic reon, the following shall apply to this insurance
in respect of item (s) No(s) Contain of the policy:

The insured shall arrange at his own ex overhaul (the Insured shall inform The insurers
of such an overhaul in good time so that th rers' representatives may be percent during the
overhaul at the Insurers' expense) in a completely opened-up state after 8,000 hours of operation
or after 500 starts-ups or at least after 2 years following the last overhaul. New electric motors
shall be overhauled.

These provisions shall apply regardless of the commencement date of the insurance cover.

The Insured may apply for an extension of the period between overhaul. Such extension shall be
granted if in the opinion of the insurers the risk is not aggravated thereby.

If the Insured fails to comply with the requirements of this endorsement, the insurers shall be free
from all liability for loss or damage caused by any circumstance which could have been detected
had an overhaul taken place.

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 Pragati Insurance Limited

Information TechnoJoav Clarification clause

Property damage covered under this Agreement shall mean physical damage to the substance of
property.

Physical damage to the substance of property shall not include damage to data or software, in
particular any detrimental change in data, software or computer programs that is caused by a
deletion, a corruption or a deformation of the original structure.

Consequently the following are excluded from this Agreement:

A. Loss of or damage to data or software, in particular any detrimental change in data,

software or computer programs that is caused by a deletion, a corruption or a deformation
of the original structure, and any business interruption losses resulting from such loss or
damage. Notwithstanding this exclusion, loss of or damage to data or software which is

d) The use or misuse of any internet address, Website or similar facility

e) Any data or other information posted on a website or similar facility

f) Any loss of data or damage to any computer system, including but not limited to
hardware or software (unless such loss or damage is caused by an earthquake, a fire,
a flood or a storm)

g) The functioning or malfunctioning of the internet or similar facility, or of any

internet address, Website or similar facility (unless such malfunctioning is caused by
an earthquake, a fire, a flood or storm) or

h) Any infringement, whether intentional or un-intentional, of any intellectual property

rights (including but not limited tp trademark, copy right or patent).

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 Pragati Insurance Limited

Reinstatement of Sum Insured Clause

It is hrty agreed and dedared that notwithstanding anything contained herein in the Policy to
the contrary that the liabil.rty of the Pragati Insurance Limited (herein after called the Insurer)
under any sect].on ayor extension of this Policy shall not exceed in the aggregate in any-one period
of insurarre the Sum Insurecl or amount of compensation set against such section ftyor extension
in the attached Schedule(s) ftyor mentioned elsewhere in the policy ftyor attached Clause(s),
unless the Sum Insured under such section ayor extension is reinstated after by occurrence of a
claim for the remaining period of Insurance.

Nob-Cancellation clause

It is hereby agreed that the Bank shall be given at least [30] days prior written notite of the
terminatl.on, expiry, cancellation, alteration or otherwise of this insurance policy and/or of any
failure by the insurec] to pay any premiums, calls or otherwise as and when the same becomes

Page 19 of 19