GLOSENT INDIA PRIVATE LIMITED

Regd. Office: Plot No-6/1124, Behind Biju Patnaik State Police Academy,
Ranasinghpur, AIIMS Hospital Road, Bhubaneswar, Odisha, INDIA, 751019
Website: www.glosentindia.com, Email: support@glosentindia.com
CIN: U74140OR2014PTC018128, Mob: +91 94220 94221

Annexure D- Application for Facilities backed by 100% Fixed Deposit (Non-Fund Based)

To Date :18/09/2020
TheBranchManager,
ICICIBankLtd
Bhubaneswar Branch

(1) I/ We, GLOSENT INDIA PRIVATE LIMITED (“Borrower”), hold current account number 777705210714 with ICICI Bank (the “Account”). I/
We wish to avail Bank Guarantee (“BG”) (“the Facility”) as per format enclosed for the purpose and as per details given below. I / We request ICICI Bank
Limited (“ICICI Bank”) to issue a one-time limit of Rs.500000 (“the Limit”) for availing BG/ facility in the Account against the security of the Fixed Deposit
(“FD(s)”) described below:
Particulars Details
Type of Bank Guarantee Performance/ Financial/ Others:
Beneficiary Name Bharat Petroleum Corporation Limited
BHARAT PETROLEUM CORPORATION LTD.
Khordha LPG Territory
Beneficiary Address 33, Industrial Estate,
P.O. & Dist Khurdha,
752057, Odisha
Currency & Amount   INR 500000/
Amount of Bank Guarantee/Letter of Credit (in words)   Five Lakhs Only
Purpose Security
BG Tenor   21 / 09/ 2023
LC Expiry
Claim Period* (if any)   21 / 03/ 2024
Beneficiary Bank IFSC Code*
*Applicable for BG only
Details of the FD(s) arranged as security:
Name of the Depositor(s) FD No. / FD FD Date Final Maturity Amount
(the “Depositor”) Application No. Date of FD (in Rs.)

Open New FD(s)

I/we GLOSSENT INDIA PRIVATE LIMITED (the “Depositor”) authorize ICICI Bank to debit our current account no. 777705210714 ICICI Bank
for Rs. 500000/- for opening a new FD(s) as per following details:
Name of the Depositor(s) Amount (in Period of FD(s) Renewal Type of FD(s)
(the “Depositor”) Rupees) of Instruction
FD(s)
GLOSSENT INDIA PRIVATE Rs 500000/- ---- year ----- Auto- Monthly interest
LIMITED month ____ days renewal payout
mode Quarterly interest
payout
Interest payout on
maturity

(2) In relation to the FD(s), I/we the Depositor agree and confirm that:
(a) all terms and conditions, applicable to FD(s) with ICICI Bank and as uploaded on www.icicibank.com, not expressly over-ridden herein, shall continue to
apply in relation to the FD(s) and the same shall be binding on me / us including but not limited to, any alteration, changes or revision, as may be done by ICICI
Bank, at its sole discretion, applicable from time to time.
(b) ICICI Bank is authorised to renew the FD(s) during the subsistence of the Facility or for the tenor of any or all of the BG/ LC so issued under the
Facility(ies).
(c) I/we hereby agree and confirm that notwithstanding anything contained herein, ICICI Bank shall continue to have security interest over the FD for a
period of 1 (one) year from the expiry of the BG/LC when the claim period specified above is less than 1 (one) year.
 GLOSENT INDIA PRIVATE LIMITED
Regd. Office: Plot No-6/1124, Behind Biju Patnaik State Police Academy,
Ranasinghpur, AIIMS Hospital Road, Bhubaneswar, Odisha, INDIA, 751019
Website: www.glosentindia.com, Email: support@glosentindia.com
CIN: U74140OR2014PTC018128, Mob: +91 94220 94221

(3) Interest Rates, Commission and Charges: (a)I/We agree and undertake to maintain cash margin and pay interest, charges, fees and commissions on the BG / LC
facility at the following rates:
Cash Margin to be Upfront Commission Upfront Processing Interest payable on the Other Charges/
maintained as per Fee for the Facility non-payment of the BG / Fees
type of request LC on due date
100% for domestic ( (
BG/LC with
cumulative FD
interest payout; or ____% per annum on the I-MCLR1 ____ + ____%
amount of BG /LC Spread
105% for
monthly/quarterly FD
interest payout; or

110% and above for

foreign BG/LC
)
)

(b) I/We authorize ICICI Bank to debit the Account towards additional margin requirements in case of market movement in foreign currency resulting in the
amounts of the cash / FD(s) not satisfying the cash margin requirement. I/We undertake to bring in additional cash/FD(s)/security to the satisfaction of ICICI Bank.
(c) I/ we agree and undertake to maintain the above margin for the entire validity of the Limit and until all dues so payable by me/ us under the Facility are repaid by
me/ us to the satisfaction of ICICI Bank.
(d) I/ We agree and undertake that at no point of time shall the collective amount of the BGs and/ or LCs issued under the Facility exceed the Limit.
(4) I/ We hereby declare and confirm that: (a) I/ We, the Borrower and/ or the Depositor, confirm that I/ we have paid all taxes payable under applicable taxation
lawsand undertake to payall taxes (without any demur, protest or delay)during the currency of the Facility; (b) theFacility(ies), the FD(s) or any part thereof isnot in
contraventionorevasionoftheprovisionsof all or any applicable laws; (c) I/We are not availing any fund based/non fund based facilities from any other bank(s); or as
on date of this Application, following credit facility(ies) are being availed by me/us :
Name of the bank/financial institution & branch Fund based (in millions) Non Fund Based (in INR)
ICICI Bank Ltd Rs. Rs. 500000.00
(d) I/we are not in RBI defaulter list and the credit facilities availed by us are within our assessed bank finance limits and none of the other credit facilities with
other banks/financial institutions are classified as non-performing assets.
(5) I / We further agree to submit a request letter in the form and manner as prescribed by ICICI Bank at the time of issuance of each BG/ LC under the Facility and
agree that non-refundable processing fee along with all statutory levies, if any, at such rate as may be applicable, shall be payable by us up front.
(6) I/ We agree that notwithstanding anything contained in this Application, ICICI Bank shall be at full liberty to not issue any BG/ LC or any subsequent BG/ LC if
ICICI Bank, in its sole discretion, may deem the same to be fit.
(7) I/ We agree that upon the issuance of any BG/ LC under the Facility, the Limit shall be reduced accordingly to the extent of such amounts of the BG/ LC so issued.
(8) I/We shall, unless otherwise agreed to by ICICI Bank, repay to ICICI Bank forthwith on demand the Facilities / such of the amounts as may be outstanding in
respect of the Facilities, together with all interest, costs, charges, expenses and monies whatsoever stipulated in, or payable in respect of the Facilities. I / we also
authorize ICICI Bank to debit the above Account or liquidate the FD(s) mentioned above to make payments in case of invocation of the BG by the Beneficiary or
upon occurrence of an Event of Default even though it may lead to pre-mature closure of the FD(s).
(9) I/ We,the Borrower and/ or the Depositor, hereby give specific consent to ICICI Bank for submitting/ disclosing the: (a.) ‘financial information’; and (b.) ‘security
interest’ as defined under the Insolvency and Bankruptcy Code, 2016 (including all amendments made thereto) (the “IBC”), in respect of the Facility and the
security interest created on the FD(s), from time to time, to ‘Information Utilities’ as defined therein, and directions issued by Reserve Bank of India to the banks
from time to time and hereby specially agree to promptly authenticate and verify the‘financial information and information relating to ‘security interest’ submitted
by ICICI Bank, as and when requested by Information Utilities.
(10) I/We have read and understood the “Terms and Conditions for OD/LC/BG/LUT/Inland bill discounting /Export finance (pre-shipment/post-shipment/both) facility
against FD / RD”, duly registered on June 17, 2014 with the sub-registrar assurance V, New Delhi vide registration no. 649 in book no.4, vol no. 4051 from pages
82 to 95 (the “Terms and Conditions”), a copy of which has been handed over to me. I/We agree to abide and ensure that the Depositors abide, by the same at all
times.
(11) Until all amounts as may be outstanding in respect of the Facilities, together with all interest, costs, charges, expenses and monies whatsoever stipulated in, or
payable in respect of the Facilities, actual or contingent, are fully paid to the satisfaction of ICICI Bank, I/We the Depositors , hereby:(a) create security interest and
charge over the aforesaid FD(s) and all underlying amounts in favour of ICICI Bank to secure the Facilities; (b)expressly waive all rights possessed by me/ us in
relation to the aforesaid FD(s) and the underlying amounts; (c)expressly discharge ICICI Bank of all its obligations in relation the aforesaid FD(s): (d) expressly
authorize ICICI Bank to set off such monies due from me/ us/ the Borrower against any or all of the aforesaid FD(s); (e) confirm that there are no subsisting security
interests / encumbrances on / assignments of the aforesaid FD(s) (other than in favour of ICICI Bank) and I/ We agree not to create security interest on / assign /
dispose of / encumber such FD(s) to any person; (f)undertake to and shall ensure that the details of the security created in favour of ICICI Bank over the aforesaid
FD(s) shall be expressly mentioned in each of my/ our financial statements at all points of time until the release of such security by ICICI Bank; (g) declare and
confirm that ICICI Bank shall be entitled to hold the aforesaid FD receipt(s) and I/ we shall not be entitled to demand or receive the same; (h) declare and confirm
that the security
(12)interest created in favour of ICICI Bank is valid and enforceable in all respects; (i)agree to comply with and abide by the Terms and Conditions, to the extent
applicable to me/ us.Nothing herein contained shall prejudice or adversely affect any general or special lien or right to set-off to which ICICI Bank is or may by law
or otherwise be entitled or any rights or remedies of ICICI Bank including in respect of any present or future security, guarantee, obligations of the Borrower/
Depositor.

1
“I-MCLR” means the percentage rate per annum decided by the ICICI Bank and announced / notified by ICICI Bank from time to time as its Marginal Cost of Funds Based Lending Rate (“MCLR”)
in terms of the guidelines of Reserve Bank of India. ICICI Bank publishes I-MCLR for five tenures namely overnight, one-month, three-month, six-month and one year.
 GLOSENT INDIA PRIVATE LIMITED
Regd. Office: Plot No-6/1124, Behind Biju Patnaik State Police Academy,
Ranasinghpur, AIIMS Hospital Road, Bhubaneswar, Odisha, INDIA, 751019
Website: www.glosentindia.com, Email: support@glosentindia.com
CIN: U74140OR2014PTC018128, Mob: +91 94220 94221

(13)In case the Borrower/ Depositors are a partnership firm, the partners of the Borrower/ Depositor hereby declare that the partners named in the signature clause are
the only partners of the Borrower/ Depositor and they undertake to advise in writing of any changes in the partners or constitution of the partnership firm of the
Borrower/ Depositor. The partners of the Borrower/ Depositor further declare that they are authorized to avail the Facility(ies) / provide the security on the aforesaid
FD(s) and execute all transaction documents in relation thereto and are jointlyandseverallyliabletoICICI Bank for theperformanceofallobligations
underthetransactiondocuments.
(14)The occurrence of any one or more of the following events or apprehension thereof shall constitute an event of default (“Event of Default”):
a. Default has occurred in the payment of any monies in respect of the Facility on the due dates (whether at stated maturity, by acceleration or otherwise) for
payment thereof or otherwise and/or in the performance of any covenant, condition or agreement on the part of the Borrower and/or any other relevant person
under the Application, the Terms and the transaction documents) ;
b. If any petition or application in relation to insolvency or bankruptcy resolution of the Borrower/Depositor (including without limitation, corporate insolvency
resolution process and bankruptcy process under the IBC is filed before any court, tribunal or authority of competent jurisdiction, or the
Borrower(s)/Depositor(s) has become bankrupt or insolvent or is dissolved.
c. If any step or action has been taken for reorganization, winding up or dissolution of a Borrower/Depositor or if a receiver or liquidator (including provisional
liquidator) has been appointed or allowed to be appointed over all or any part of the assets of the Borrower(s)/Depositor(s) or if any attachment or distraint
has been levied on the Borrower’s/Depositor’s assets or any part thereof or certificate proceedings have been taken or commenced for recovery of any dues
from the Borrower/Depositor or if one or more judgments or decrees have been rendered or entered against the Borrower/Depositor.
d. It is or becomes unlawful for the Borrower/Depositor and/or any other relevant person (including the Bank) to perform any of their respective obligations
under the transaction documents; (b) The Borrower/Depositor and/or any other relevant person (excluding the Bank) fail or is / are unable to perform any of
their respective obligations under any other agreement / document.
e. Security in Jeopardy: If in the opinion of ICICI Bank, the security for the Facility(ies) is in jeopardy or ceases to have effect or if any of the transaction
documents executed or furnished by or on behalf of the Borrower becomes illegal, invalid, unenforceable or otherwise fails or ceases to be in effect or fails or
ceases to provide the benefit of the liens, rights, powers, privileges or security interests purported or sought to be created thereby.
f. Material Adverse Event: Occurrence or existence of one or more events, conditions or circumstances (including any change in law), which in the opinion of
ICICI Bank could have material adverse effect on the (i) obligations of the Borrower/Depositor under the Facility or in relation to the security (ii) businesses,
operations or financial conditions of the Borrower / Depositor or their project(s).
Cross Default: Borrower is unable or has admitted its inability to pay any of its indebtedness to a financial creditor or any bank or financial institution
(secured or otherwise), whether at stated maturity, by acceleration or otherwise. Any financial creditor or bank or financial institution cancels and/or recalls
any indebtedness of the Borrower, as a result of an event of default (however described). Any Group Company or Associate Company of the Borrower has
defaulted in payment of any of its Indebtedness to the Bank, whether at stated maturity, by acceleration or otherwise.
For the purpose of this clause:
“Group Company” shall mean and include:
(a) any company which is the holding company or the subsidiary company of the Borrower, or
(b) any company under the control of or under common control with the Borrower
“Associate Company” shall have the meaning assigned to it under the Companies Act, 2013.
Name of the Borrower:
Signed and delivered for and on behalf of M/s GLOSSENT Signature
INDIA PRIVATE LIMITED /private limited company / by /
through its authorized signatory /

Mr. Shantilata Sahani

Mr.Chidanand Das

Name of the Depositor: Signature

Signed and delivered for and on behalf of M/s GLOSSENT
INDIA PRIVATE LIMITED /private limited company / by /
through its authorized signatory /

Mr. / Ms. Shantilata Sahani

Mr./ Ms. Chidanand Das

 GLOSENT INDIA PRIVATE LIMITED
Regd. Office: Plot No-6/1124, Behind Biju Patnaik State Police Academy,
Ranasinghpur, AIIMS Hospital Road, Bhubaneswar, Odisha, INDIA, 751019
Website: www.glosentindia.com, Email: support@glosentindia.com
CIN: U74140OR2014PTC018128, Mob: +91 94220 94221

For Internal use only – Appraisal Note

Standard NWC Required Yes / No

“Bank Acknowledgment”
(Relationship Manager / Bank Official not below the rank of AM-I must acknowledge copy of the application and ensure that application contains all the
Borrower’s and the Depositor’s signatures on same page)
Declaration:
1. I confirm that I have provided a copy of the application form to the borrower as an acknowledgement and thatthe application form has been signed by
Borrower and Depositor in my presence.
2. I confirm that the documentation specified in the i-Legal – DMS for the facility will be executed by the client before disbursement or issuance. None of
the borrower or their partners/directors are in the RBI’s / RBI’s Caution list/ ECGC /ICICI Bank list of defaulters. The borrower or their partners
/directors etc. are not facing any litigations which have been initiated by other lenders, the borrower is not a wilful defaulter or appears in the RBI caution
list.
3. I confirm that I have conducted the due diligence on the customer is in line with the KYC guidelines and I have also obtained all documents mentioned in
prevailing KYC guidelines. The validity periods of all facilities are co-terminus with the FD maturity date.
RECOMMENDATION:
The approving authority is requested to sanction the above facility.
Approving Authority:
We have gone through the credit related authorization as currently in force and having done so, confirm the approval of above proposal falls within the authority

Employee ID : Employee ID :
Name : Name :
Grade : Grade :
Signature : Signature :