Loan Agreement

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LOAN AGREEMENT
This LOAN AGREEMENT (the “Agreement”) is made on the date set out in Schedule hereunder.
BY AND BETWEEN
AMBIT FINVEST PRIVATE LIMITED, a company, incorporated under the provisions of the Companies
Act 1956 (CIN U65999MH2006PTC163257), having its registered office at Ambit House, 449, Senapati Bapat
Marg, Lower Parel, Mumbai 400013 (hereinafter referred to as “the Lender” which expression shall, unless it
be repugnant to the context or meaning thereof, be deemed to mean and include its successors in interest,
assigns, holding or subsidiary company and/or associates) of the One Part;
AND
THE BORROWER(S), more particularly described and set out in the Schedule hereunder written (hereinafter
referred to as "the Borrower(s)"), which expression shall, unless repugnant to the context or meaning thereof,
be deemed to mean and include : in the event that the Borrower is a Company within the meaning of the
Companies Act , 2013 or a Limited Liability Partnership, incorporated under the Limited Liability Partnership
Act, 2008, its successors; in the event that the Borrower is a partnership firm for the purposes of the Indian
Partnership Act , 1932, the partners for the time being and from time to time and their respective legal heirs,
executors and administrators; in the event that the Borrower is a sole proprietorship, the sole proprietor and his /
her legal heirs, administrators and executors; in the event that the Borrower is a joint Hindu Undivided Family,
the Karta and any or each of the adult members of the HUF and their survivor(s) and his/her/their respective
heirs, executors, administrators; in the event that the Borrower is a Society, the members of the governing body
of the Society and any new members elected, appointed or co-opted thereon; in the event that the Borrower is a
Trust, the Trustee or Trustees for the time being hereof and their respective heirs, executors, administrators and
successors; in the event that the Borrower is an individual, his/her heirs, administrators and executors.
The Borrower(s) and the Lender are hereinafter collectively referred to as the “Parties” and singly referred to as
a “Party” wherever the context so requires.
WHEREAS:
(A) Lender is inter-alia engaged in the business of providing financing or loan facilities to corporate,
individuals, partnership firms, and other legal persons/entities.
(B) The Borrower has requested the Lender to provide finance/Loan required by the Borrower for the
purpose(s) as set out in the Schedule to this Agreement.
(C) Relying on the declarations, representations and warranties of the Borrower which are the basis of this
Agreement, the Lender has agreed to sanction and grant the Facility to the Borrower at its sole discretion,
and the Borrower has agreed to borrow, the Loan required by him/her/it subject to the terms and conditions
of this Agreement and other agreements or undertaking or documents executed by the Borrower as per the
satisfaction of the Lender.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE
PARTIES AS FOLLOWS:
Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

(as applicable) (as applicable) (as applicable)
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1. DEFINITIONS AND INTERPRETATIONS:
Definitions: In this Agreement unless the context otherwise requires:
‘Agreement’ shall mean this Loan Agreement and schedules / attachment, annexure, Facility Documents
and shall also include any supplement agreement(s), modifications(s), alteration(s), attachment(s) and
schedule(s) which may be now or subsequently entered into between the Parties during the concurrence of
this Agreement or any supplement agreement and/or other documents executed pursuant thereto;
“Applicable Law” shall mean any statute, law, regulation, ordinance, rule, judgment, order, decree,
clearance, approval, directive, guideline, policy, requirement, or other governmental restriction or any
similar form of decision, or determination by, or any interpretation or administration of any of the
foregoing by, any statutory or regulatory authority whether in effect as of the date hereof or thereafter and
in each case as amended, all of which having the force of law.
“Business Day” shall mean a day, other than Saturday and Sunday, on which banks are open for general
banking business in Mumbai.
‘Demand Promissory Note and Letter of Continuity’ shall mean the demand promissory note and letter
of continuity, extended by the Borrower and executed or to be executed in favour of the Lender;
‘Disbursement’ means any disbursement of a Loan made by the Lender to the Borrower under the
Facility. For the avoidance of doubt, in the event the Loan Amount is provided by the Lender by way of a
cheque, the Disbursement shall be deemed to have been made on the date on which the Lender issues the
cheque to the Borrower;
‘Effective Date’ means the date on which this Agreement is executed by all the Parties;
‘Event of Default’ means any event or circumstance specified in Clause 14 (Events of Default);
‘Facility’ shall mean the Loan granted under this Agreement including outstanding interest, fees, charges,
levies, expenses, claims, costs and/or other dues payable to the Lender in relation hereto;
‘Facility Documents’ mean collectively:
(a) this Agreement;
(b) the Demand Promissory Note and the Letter of Continuity;
(c) the MITC;
(d) the Application
(e) the Undertakings and letters in relation to the Facility; and
(f) any other document designated as ‘Facility Document’ by the Lender in its sole discretion;
‘Loan’ shall mean each drawal made by the Borrower against the Facility;
‘Loan Amount’ shall mean the principal amount of the Loans disbursed to the Borrower under this
Agreement;

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‘Material Adverse Effect’ shall mean the effect or consequence of an event, circumstance, occurrence or
condition which, in the opinion of the Lender, has caused or is likely to cause, as of any date of
determination, or could be expected to cause, a material and adverse effect on:
(i) the financial condition, business, assets or prospects of any of the Borrower;
(ii) the ability of the Borrower to perform or comply with its obligations under any of the Facility
Documents; or
(iii) the legality, validity, binding nature or enforceability of any of the Facility Documents;
‘Outstanding Amount’ shall mean amounts funded by Lender plus interest, penal interest charges, costs,
fees, charges, levies, expenses, taxes and claims and any other amount payable by the Borrower to Lender
under any obligation that may arise under Facility Documents;
‘Purpose’ shall have the meaning ascribed to it in the Schedule;
‘Repayment’ shall mean and include repayment, either on demand and/ or as per Schedule, or the MITC
or the terms set out in this Agreement, of all dues in respect of the Facility, which shall be construed to
include the principal amount of Loan, interest, all the charges, legal fees, expenses and costs, etc. provided
for in this Agreement;
‘Most Important Terms and Conditions Document’/‘MITC’ shall mean a document covering terms
and conditions related to the Facility issued by the Lender from time to time; and
‘Undertaking’ shall mean the undertaking(s) if any, extended by the Borrower and executed or to be
executed in favour of the Lender.
2. RULES OF INTERPRETATION
Unless the context or meaning thereof otherwise requires:
2.1 In this Agreement, the headings are used for convenience and ease of reference and are not to be construed
in the construction or interpretation of any provision of this Agreement;
2.2 In this Agreement, unless the context specifies otherwise, reference to the singular includes a reference to
the plural and vice-versa, and reference to any gender includes a reference to all other genders;
2.3 In this Agreement, unless the context specifies otherwise, references to the Recitals, Clauses and Schedules
shall be deemed to be a reference to the recitals, clauses and schedules of this Agreement;
2.4 reference in this Agreement to any deed, document, and writing or to any statute shall include any
modification, re-enactment or extension thereof;
2.5 In this Agreement, unless the context specifies otherwise, reference to an individual shall include
his/her/its personal/authorized representative;
2.6 References to a ‘person’ includes an individual, Hindu Undivided Family, association of persons, company
and a body corporate, unincorporated association or body (including a partnership, trust, fund, joint
venture or consortium), government, state, agency, organisation, establishment or other entity whether or
not having separate legal personality;

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2.7 Annexures and Schedules to this Agreement and the policies laid down by the Lender from time to time in
respect of facilities under this Agreement, ‘risk management policy’, “anti money laundering policies” etc.
are an integral part of this Agreement and references to this Agreement include references to such
schedules and policies;
2.8 In case of there being more than one Borrower (i.e. there being co-borrowers), the reference to the term
"Borrower" shall be deemed to be as if it were plural and this document shall be read accordingly as if
made and liabilities undertaken by each of them jointly and severally.
2.9 A time of day is a reference to Indian standard time and a day is a reference to a calendar day;
2.10 The “materiality” of a particular event or occurrence shall be determined by the Lender at its sole
discretion; and
2.11 Any approval or consent required from or any waiver given by the Lender will only be effective if issued
by the Lender in writing.
2.12 In the event there is any conflict between the provisions of this Agreement and any of the other Facility
Document, then the terms that are more favourable to the Lender (as decided by the Lender in its sole
discretion) shall prevail and will be binding on the Borrower.
3. GRANT OF FACILITY
3.1 Pursuant to the application made by the Borrower in the loan application form (“Application”) and subject
to the terms and conditions set out in this Agreement, the Lender hereby agrees to lend and the Borrower
hereby agrees to borrow the loan Facility as more particularly set out in the Schedule hereunder (“Loan”)
in the manner and upon the terms and conditions contained herein, and the MITC.
3.2 The Borrower hereby agrees and undertakes that the proceeds of the Loan shall be used only for the
purpose as set out in the Schedule and shall not be used for any other purpose. Further, the Borrower
agrees that it shall not utilise the proceeds of the Loan towards investing in the capital market or for any
speculative, illegal or anti-social purpose. Without being obligated to do so, the Lender shall be entitled to
monitor the use/end-use of the Loan including through any auditor(s) or consultant(s) with necessary
certification from them, as appointed by the Lender at its sole discretion at the cost of the Borrower.
3.3 The Lender shall have no obligation to meet any further requirements of the Borrower on account of any
reason including but not limited to growth in its business.
3.4 The Lender may, at its own discretion and upon Borrower's request, also finance the Borrower for the
insurance premium of insurance policy taken by Borrower as per Borrower's own wish from any insurance
company of Borrower's choice, which sum(s) shall be added to the principal amount under the Loan and
all the terms and conditions shall be additionally applicable thereto All expenses, charges, fees, taxes etc.
as applicable on any such insurance shall be incurred and paid by the Borrower, however in case paid by
the Lender on Borrower's behalf, the Borrower shall reimburse the same to the Lender within 24 hours of
the Lender’s demand. The Borrower shall instruct the insurance company to add the Lender as loss payee
in any such insurance policy.
4. CONDITIONS PRECEDENT
4.1 The Loan will be disbursed by the Lender to the Borrower, in one or more tranches, upon fulfillment of the
conditions precedent set out in Schedule hereunder within such date as may be prescribed by the Lender.

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5. DISBURSEMENT
5.1 Subject to the terms and conditions contained herein, the Lender may, in its discretion, advance Loan to the
Borrower pursuant to the Facility. The Lender, in its sole and absolute discretion, may disburse the Loan
either in lump sum or in suitable installments having regard to the needs of the Borrower for the purpose as
set out in the Schedule. The Borrower agrees that the decision of the Lender, in this regard shall be final,
conclusive and binding upon the Borrower, and the Borrower undertakes that he/she/they/it shall not
question and/or challenge and/or object to the decision/discretion of the Lender.
5.2 The Borrower/s also agrees and undertakes to issue such acknowledgement and/or receipt (in the manner
and form required by the Lender) of each amount so disbursed.
5.3 All Disbursements to be made by the Lender under or in terms of this Agreement shall be made by cheque
or demand draft duly crossed and marked account payee or /Real Time Gross Settlement (‘RTGS’)/
National Electronic Funds Transfer (‘NEFT’) or any other mode of payment as may be permitted by the
Reserve Bank of India under Applicable Laws and the collection and other charges, if any, in respect of all
such transmission of amounts will have to be borne by the Borrower and interest on the Loan will begin to
accrue in favour of the Lender as on the date of Disbursement.
5.4 The decision of the Lender as to Disbursement of the Loan shall be final, conclusive and binding on the
Borrower. The Borrower further agrees that the Lender would be free to stop Disbursements of Loan on
the happening of any event or for any reason of whatsoever nature.
5.5 It is hereby expressly agreed and confirmed by the Borrower that the Lender shall not be bound to grant
any Loan to the Borrower and any such decision shall be at the sole and exclusive discretion of the Lender.
It is also agreed by the Borrower hereto that in the event the Lender does not grant any Loan to the
Borrower, the Lender shall not be required to provide any reason for refusal/failure to grant the Loan nor
shall the Lender be liable for any damages (liquidated or otherwise) to the Borrower by reason of the
Lender’s refusal/failure to grant any Loan to the Borrower.
5.6 Notwithstanding anything contained herein, the Lender may at its sole discretion, suspend or cancel the
Loan if the same is not utilized within 15 days of the issuance of instrument/instruction for Disbursement.
6. INTEREST & OTHER CHARGES
6.1 The Borrower shall pay to the Lender interest on the Loan as specified in Schedule 1 hereunder. Such
interest shall be payable as part of the EMIs as set out in Clause 7.2.
6.2 The Lender shall be entitled to reset the rate of interest from time to time and during the tenor of this Loan
upon provision of a notice to the Borrower. If the Borrower is not agreeable to such reset in the interest
rate, the Borrower may prepay the entire Outstanding Amount of Loan along with interest, charges,
expenses, fees, costs, etc. within 7 (seven) days from the date of such notice. If the Borrower fails to
prepay the entire Outstanding Amount within a period of 7 (seven) days from the date of notice of such
reset by the Lender, then the revised interest rate shall be final and binding on the Borrower. The rate of
interest and charges for any changes shall be effective only with prospective effect.
6.3 The interest on the amount due will accrue prospectively from the date of (i) disbursement by the Lender or
(ii) delivery of cheque or demand draft or RTGS or NEFT or any other mode of payment by the Lender
towards Disbursement, whichever is earlier, and shall be computed on the basis of 360 days in a year or as

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may be decided by the Lender from time to time. The rate of interest and charges shall be effective
prospectively only.
6.4 Upon any default in payment of dues, the Borrower would be liable to pay an additional / default interest
at the rate mentioned in the Schedule (“Default Interest Rate”), compoundable monthly on the Facility
payable from the date of default till date of receipt of payment of the Loan by the Lender, without
prejudice to the Lender’s other rights available under this Agreement and in law.
6.5 The Borrower shall also pay to the Lender, a commitment fee as set out in the Schedule.
7. REPAYMENT AND PREPAYMENT
7.1 The Borrower hereby agrees and undertakes to repay and shall repay on demand, the Loan advanced along
with costs, fees, charges, levies, expenses, claims, etc. by the Lender under this Agreement and
Outstanding Amount along with the interest thereon.
7.2 The Borrower(s) shall repay the Loan and pay the interest that is due from time to time by way of equated
monthly installments (“EMIs”) as specified in the Schedule or as may be specified by the Lender from
time to time (time being the essence of the contract). The Borrower has perused, understood and agreed to
Lender’s method of calculating EMIs as also the appropriation thereof into principal and interest. The
Lender may, at its discretion, require the Borrower to pay the EMIs specified in the Schedule hereto in
advance, simultaneously with the Disbursement (“Advance EMI”). The payment of all the monies by the
Borrower including EMIs shall be made on or before the respective due dates, at such place as the Lender
may require, without any set-off or counterclaim or withholding or deduction (save as required by law in
which case the amount payable by the Borrower to the Lender shall be increased to the amount which after
making such deduction or withholding equals the original due amount as if no withholding or deduction
were required), by way of one or more modes and instruments including post-dated cheques (“PDCs”),
Standing Instructions (SI)/ Electronic Clearing System (ECS) instructions/ other mode/ instrument, as
acceptable to the Lender from time to time. In case of cheques/ other instrument, the payment shall be
deemed to have been made by the Borrower only at the point of time the sum is credited and realized fully
in Lender’s account irrespective of the date of instrument or time of receipt or presentation of instrument.
7.3 Notwithstanding anything stated in any document, the continuation of the Loan shall be at sole and
absolute discretion of the Lender, and the Lender may at any time at its sole discretion and without
assigning any reason call upon the Borrower to pay the Outstanding Amount and upon such demand by the
Lender, the Borrower shall, within 24 hours of being so called upon, pay the whole of the Outstanding
Amount to the Lender without any delay or demur.
7.4 The Borrower shall be entitled to prepay/ transfer the Loan: (i) only if Lender permits the same upon at least
15 days' written notice from Borrower communicating intention to prepay at Lender’s lending branch; and
(ii) only after expiry of 48 hours from the Disbursement date; and (iii) subject to such conditions as the
Lender may prescribe including payment of the prepayment charges as mentioned in the Schedule hereto/
Application or as specified from time to time by the Lender. Such prepayment shall take effect only when
entire Outstanding Amount has been paid to and realized by the Lender.
8. DUE DATE OF PAYMENT
If the due date of payment of interest or any other payment falls on a Saturday or a day which is a bank
holiday at the place where the payment is to be made, the immediately preceding Business Day shall be
the due date for such payment.

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9. PLACE AND MODE OF PAYMENTS
9.1 All monies payable by the Borrower to the Lender shall be paid to the Lender by, telex or mail transfer or
ECS or RTGS to the Bank Account of the Lender or by cheque or bank draft drawn/ pay order in favour of
the Lender and shall be so paid as to enable the Lender to realize, at par, the amount on or before the
relative due date.
9.2 The Borrower shall have deposited post-dated cheques for each EMI required to be paid by the Borrower in
order to repay the Loan. On each date for payment of the EMI, the Lender shall have the right to present
such cheque towards due repayment of the relevant EMI. For the avoidance of doubt, any delay by the
Lender in presenting such cheque for payment shall not be deemed to be a waiver of the Lender’s right to
present such cheque or receive the EMI, or the Borrower’s obligation to repay the Outstanding Amount.
9.3 The Lender shall have no obligation to verify whether the person issuing the post-dated cheques on behalf
of the Borrower continues to be authorized at the time of presenting the cheque. The Borrower shall ensure
that the person issuing the post-dated cheques continues to be the authorized signatory of the Borrower
until such cheque is presented by the Lender.
10. APPROPRIATION
10.1 Any payment made by the Borrower to the Lender under the Facility Documents shall be appropriated by
the Lender in the following order (i) costs, charges and expenses that the Lender may incur in relation to
the Loan and all costs, charges, expenses, incidental charges and other monies payable by the Borrower to
the Lender under the Facility Documents; (ii) default / penal interest; (iii) interest on Outstanding Amount
at the applicable interest rate; (iv) Loan Amount, and (v) any other sum / charges payable by the Borrower
to the Lender, except as otherwise decided by the Lender.
11. REPRESENTATIONS AND WARRANTIES
11.1 The Borrower makes the following representations and warranties to the Lender.
(a) in case of the Borrower being a corporate entity or partnership firm:
(i) it is duly incorporated and validly existing under the laws of its incorporation (as the case may
be);
(ii) it has the capacity to sue and be sued in its own name;
(b) in case of the Borrower being a partnership firm, it and each of its partners:
(i) is of sound mind and has the capacity to enter into and perform its obligations under the Facility
Documents and is not otherwise disqualified under the provisions of the Indian Contract Act,
1872 and any other Applicable Law; and
(ii) has, the power to own its property and other assets and carry on its business as it is being
conducted.
(c) in case of the Borrower being an individual:
(i) it is not a minor and is of sound mind and has the capacity to enter into and perform its
obligations under the Facility Documents; and

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(ii) is not otherwise disqualified under the provisions of the Contract Act, 1872 and any other
Applicable Law.
(d) In case of the Borrower being a Hindu Undivided Family,
(i) the Karta is not a minor and is of sound mind and has the capacity to enter into and perform its
obligations under the Facility Documents; and
(e) In case of the Borrower being a Trust or Society, it is duly formed and validly existing under the laws
to which it is subject (as the case may be);
11.2 The Borrower has the power to enter into, deliver and perform, and has taken all necessary action for the
purposes of entry into, performance and delivery of, each Facility Document to which it is a party and the
transactions contemplated by each such Facility Document.
11.3 The Borrower has obtained all authorisations, permissions, licenses, registrations required or desirable to
enable it:
(a) lawfully to enter into, exercise its rights and comply with its obligations under each Facility
Document to which it is a party;
(b) to make each Facility Document to which the Borrower is a party admissible in India; and
(c) for the conduct of the Borrower’s business, trade and ordinary activities have been obtained or
effected, and are in full force and effect.
11.4 The obligations expressed to be assumed by the Borrower under each Facility Document when executed
will constitute such Borrower’s legal, valid, binding and enforceable obligations in accordance with its
respective terms.
11.5 None of the directors or partners of the Borrower (where the Borrower is either a corporate entity or a
partnership firm) or Karta of the Borrower (where the Borrower is a Hindu Undivided Family) or members
of the Borrower (where the Borrower is a Society) or Trustees of the Borrower (where the Borrower is a
Trust) or the Borrower (where the Borrower is an individual), is a director of a banking company (as
defined under the Banking Regulation Act, 1949) or specified near relation (as specified by RBI) of a
director of a banking company or a near relative of any senior officer of the Lender, or interested as a
director or holds substantial interest in a scheduled cooperative bank, or subsidiaries/trustees of mutual
funds/venture capital funds.
11.6 No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if
adversely determined, might reasonably be expected to have a Material Adverse Effect as determined solely by
the Lender is prejudicial to the interests of the Lender or is likely to materially affect the financial condition of
the Borrower and/or its ability to perform all or any of its obligations under this Agreement.
11.7 Neither the Borrower nor any one on the Borrower’s board (or a partner in case the Borrower is a
partnership firm) is someone who has been identified as a willful defaulter by the RBI.
11.8 The Borrower is compliant with all Applicable Laws which it is subject to.
11.9 The Borrower further warrants and confirms that he/she/they/it shall not during the continuance of Facility
without the written consent of the Lender:

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(a) invest any funds by way of deposits, or loan any amount as long as any money is due to the Lender in
the event of any default being committed in Repayment of the Loan Amount, and
(b) borrow or obtain credit facilities of any description from any other financial institution, banks, credit
agency or money lenders or enter into any arrangement thereby affecting the right of the Lender
under this Agreement except only towards Repayment of all the Outstanding Amount to the Lender
as may be agreed with the Lender.
11.10 The execution, delivery and performance of any Facility Document will not contravene any law or regulation to
which the Borrower is subject.
11.11 It is not necessary under the Applicable Law that any Facility Document be filed, recorded or enrolled with any
court or other authority in India or that any stamp, registration or similar tax be paid on or in relation to any
Facility Document or the transactions contemplated by any Facility Document other than:
(a) the stamp/ registration duties paid on any Facility Document prior to its execution in India; and
(b) court fees to be paid in connection with any proceedings brought before a court in India.
11.12 No Event of Default is continuing or will result from the entry into of, or the performance of any transaction
contemplated by, any Facility Document or the making of any Disbursement.
11.13 The information provided to the Lender by the Borrower in connection with the Facility does not contain any
untrue statement of fact, nor does it omit to state a material fact necessary to state in order to make the
information not misleading or incomplete in any circumstances.
12. FURTHER COVENANTS:
12.1 The Borrower hereby agrees covenants and warrants as follows:
(a) that he/she/it/they will utilize the amounts borrowed under the Facility only for the Purpose as set out
in the Schedule.
(b) that it will carry out its operations with due diligence and efficiency and in accordance with sound
technical, financial and managerial standards and business practices.
(c) that it will promptly inform the Lender of the happening of any event which may have or likely to
have an adverse effect on the Borrower’s profits or its business.
(d) that it shall not apply for a voluntary winding up or file an application against itself, before any forum
including under the Insolvency and Bankruptcy Code, 2016, and that it will maintain its legal status
and right to carry on its operations and promptly inform the Lender of any resolution passed/ winding
up or if it has notice of any application for winding up under the provisions of the Companies Act,
1956/ the Companies Act 2013 with amendments thereof or any other notice under any other Act or
otherwise of any suit or other legal process filed/initiated or intended to be filed/ initiated against the
Borrower or if a receiver is appointed of any of its properties or business or undertaking (as may be
applicable).
(e) in case of a body corporate, that it will keep the Lender promptly informed of any change that may
occur or is likely to occur in the composition of its board of directors/governing body/its management

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set-up/ constitution/ share capital or shareholding pattern/voting powers. The Borrower is not allowed
to make any change in control without prior approval from the Lender.
(f) in case of a body corporate, that it will not declare or pay any dividend to any of its shareholders
during any financial year, unless it has paid all the dues of the Lender under this Agreement upto the
date on which the dividend is proposed to be declared or paid or has made satisfactory provisions
thereof without prior approval from the Lender.
(g) that it will not issue any debentures, raise any loans, or create any charge on its assets or give any
guarantees without prior approval from the Lender.
(h) that it will not undertake or permit any merger, demerger, arrangement, consolidation, reorganization,
scheme of arrangement or compromise with its creditors or shareholders or effect any scheme of
amalgamation or reconstruction without prior approval from the Lender.
(i) that it shall not, except in favour of the Lender, sell, license, let, lease, transfer, alienate, dispose of in any
manner whatsoever, surrender or otherwise encumber any of its assets, rights, title or interest, receivables,
or any part thereof, or create, facilitate or permit to exist any charge, encumbrance or lien of any kind
whatsoever over any of its property or grant any option or other right to purchase, lease or otherwise
acquire any such assets or part thereof, except without the prior approval from the Lender.
(j) in case the Borrower is a person other than an individual, the Borrower shall not change business, or
enter into any new business or line of business or effect any material change in the management
without the prior approval from the Lender.
(k) in case the Borrower is an individual, the Borrower shall not change, cease, retire from, terminate or
resign from the present employment, profession or business disclosed in the Application; or changes,
terminate or open any bank account without the prior approval from the Lender.
(l) that it shall immediately furnish to the Lender, information relating to change in address or any such
reports and/ or information as may be required by the Lender from time to time.
(m) That it shall acknowledge the existence of debt to the Lender under the Facility Documents by
submitting such acknowledgement in the form acceptable to the Lender at such periodicity as advised
by the Lender to the Borrower from time to time.
12.2 The Borrower has the authority to enter into this Agreement and is not under any disability, restriction or
prohibition that shall prevent him from performing or observing any of his obligations under this Agreement.
12.3 The Borrower has not entered into and shall not enter into any other agreement that may in any way violate
the terms, conditions and understanding between the parties hereto under this Agreement.
12.4 Under no circumstances shall the Lender be liable to the Borrower for any indirect, incidental,
consequential, special or exemplary damages arising from this Agreement, even if Lender has been
advised of the possibility of such damages.
12.5 All consents, licenses, approvals, etc. as are necessary in connection with the Borrower’s business and the
execution, validity and enforceability of this Agreement have been duly obtained and the Borrower
undertakes to keep them effective in full force and effect during the subsistence of this Agreement.

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12.6 The Borrower is not in arrears of any public demand such as income tax, corporation tax and all other taxes
and revenues or any other statutory dues payable to the Central or State Governments or any local or other
authority.
12.7 Nothing in this Agreement conflicts with the constitution of the Borrower.
12.8 Each of the representations and warranties contained in this Agreement shall be continuing representations
and warranties and shall be deemed to be repeated by the Borrower on the date of and on the date prior to
each of the Disbursement of the Facility made/ to be made in accordance with the term and conditions of
this Agreement.
13. TERM
This Agreement shall be valid until the Repayment of all Outstanding Amount to the satisfaction of the
Lender.
14. EVENT OF DEFAULT
An event of default shall be deemed to have occurred if:
(a) the Borrower fails to repay the Outstanding Amount or any fees, charges or costs in manner herein
contained, or any other amount(s) due hereunder remains unpaid for any amount of period from the
date on which it is due;
(b) the Borrower fails to perform or observe or carry out any other covenant, condition or agreement to
be performed, observed or carried out by the Borrower hereunder or under Facility Documents;
(c) the Borrower breaches any of the terms, covenants or representation and warranties given by the
Borrower under this Agreement;
(d) if there is a default by the Borrower under any other agreement with the Lender or any third party
creditor;
(e) upon the death of the Borrower or upon the Borrower being adjudged insolvent or making any
compromise or arrangement with his creditors or suffering any act of insolvency;
(f) the Lender has reason to believe that the financial position of the Borrower has eroded and he/ she/ it
may not be able to meet his/ her/ its obligations;
(g) the Borrower fails to furnish any information or documents that may be required by the Lender;
(h) there exists any other circumstance which, in the sole opinion of the Lender, jeopardizes the Lender’s
rights and interest under this Agreement or the Facility Documents;
(i) Failure to inform Event of Default: if the Borrowers fails to inform the Lender of the happening of
any Event of Default or any event which after the notice or lapse of time or both would become an
Event of Default;
(j) Occurrence of a Material Adverse Effect;
(k) Any corporate action, legal proceedings or other procedure or step is taken in relation to:

12
(i) the initiation of an insolvency resolution process under the Insolvency and Bankruptcy Code,
2016;
(ii) the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution,
administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or
otherwise) of the Borrower;
(iii) a composition, assignment or arrangement with any creditor of the Borrower;

(iv) the appointment of a liquidator, receiver, administrator, administrative receiver, compulsory
manager or other similar officer in respect of the Borrower; or
(v) initiation or commission of an act of insolvency in relation to the Borrower;
(l) If a cross default as below occurs:
(i) Any commitment for any debt of the Borrower is cancelled or suspended by a creditor as a
result of an “Event of Default” (however described);
(ii) Any creditor of the Borrower becomes entitled to declare any debt due and payable prior to its
specified maturity as a result of an “Event of Default” (however described); or
(iii) Any encumbrance over any assets of the Borrower to secure any other debt becomes enforceable.
15. CONSEQUENCES UPON EVENT OF DEFAULT:
15.1 Upon the occurrence of any Event of Default and any time thereafter, the Lender shall without prejudice to
its rights in law and the Facility Documents, be entitled to:
(a) declare that the entire Outstanding Amount (including any other amounts that are owed by the
Borrower to the Lender under any other financing arrangement) has become payable forthwith by the
Borrower to the Lender;
(b) cancel any undrawn amount of Facility, or
(c) commence all legal proceedings to recover the Outstanding Amount and carry out all acts and
exercise any other right or remedy that may be available to it under the Applicable Laws and/or under
the Facility Documents; and
(d) undertake any other action as the Lender may deem fit in its sole discretion.
15.2 It is being agreed and understood by the Borrower that the right of the Lender to recover the Outstanding
Amount to the satisfaction of the Lender shall survive any cancellation/ termination of Loan.
15.3 Further, in the event the Borrower is an individual, the Lender is hereby irrevocably entitled and authorized to
contact and require the Borrower’s employer to make deductions from the wages/salary payable by the
employer to the Borrower and to remit the same until all Outstanding Amount is completely discharged. The
deductions shall be of such amounts as communicated by the Lender to the Borrower’s employer.
15.4 Where the Borrower is a company, the Lender, upon the occurrence of an Event of Default, shall have the right
to appoint such number of nominees on the board of directors of the Borrower as may be permitted by
Applicable Law (“Nominee Director”). The Borrower shall take all corporate action to effectuate such right to
the satisfaction of the Lender (including, without limitation, amending its respective Charter Documents).

13
15.5 Further, the Lender shall be entitled to exercise rights available to it under Applicable Law, including the
under the circulars of the Reserve Bank of India to convert all or any of the Outstanding Amount into
equity shares of the Borrower, where the Borrower is a company.
15.6 In addition, and without prejudice to what is stated above, the Borrower shall be liable for all legal and
other costs and expenses resulting from the foregoing defaults for the purpose of exercise of the Lender’s
remedies, and/ or collection recovery of all or any charges payable by the Borrower as the case may be.
15.7 No remedy referred to hereinabove is intended to be exhaustive, but the same shall be in addition to any
other remedy available to the Lender in law.
16. DISCLOSURES AND UNDERTAKINGS OF BORROWERS:
16.1 The Borrower consents to the disclosure (including public disclosure) by the Lender of, information and
data relating to the Borrower (including its promoters, directors, employees etc.), of the credit facility
availed of/to be availed, by the Borrower, obligations assumed/to be assumed, by the Borrower, in relation
thereto and default, if any, committed by the Borrower, in discharge thereof.
16.2 Accordingly, Borrower, hereby agrees and gives consent to the Lender to disclose and furnish all or any
such information and data relating to the Borrower and any credit facility availed of/to be availed by the
Borrower and default, if any, committed by it, in discharge of its obligations, as the Lender may deem
appropriate and necessary, to third parties including but not limited to vendors, outsourcing agencies,
business correspondents for analyzing, processing, report generation, storing, record keeping or to various
credit information companies / credit bureaus e.g. Credit Information Bureau (India) Ltd (CIBIL), or to
information utilities under the Insolvency and Bankruptcy Code 2016. The Borrower also consents to the
Lender sharing Borrower related information with the Lender’s group entities for offering, advising,
marketing and/or distributing financial and other products and services.
16.3 The Borrower hereby declares and confirms that the information and data furnished by the Borrower to the
Lender are true, correct, accurate and complete in all respects and is not misleading in letter or spirit
whether by reason of omission to state a material fact or otherwise. The Lender shall have the right to
retain the Application Form, the photographs, information and other documents submitted by the Borrower
to the Lender by the Borrower.
16.4 The Borrower further gives its consent to the Lender and/or RBI and/ or CIBIL or any credit information
companies to:
(a) use or process the said information and data disclosed by the Lender in the manner as deemed fit by
them;
(b) disclose or furnish for consideration, the processed information and data or products thereof prepared
by them, to banks/financial institutions and other credit grantors or registered users, as may be
specified by RBI in this behalf; and
(c) disclose any information / documents relating to the Borrower to any third party including the Lender’s
group companies for promotional purposes or any other purpose as the Lender may deem fit.
16.5 The Borrower accepts that RBI or any other agency so authorized, any statutory, regulatory or supervisory
authority, may use, process, disseminate the said information and data disclosed by the Lender in such
manner as deemed fit by them in any particular circumstances and shall not hold the Lender responsible or
liable in this regard.

14
16.6 The Borrower agrees that the Lender, its group companies, agents/representatives shall be entitled to
provide the Borrower, its promoters, directors and employees, information on various products, offers and
services through any mode (including through telephone calls / SMS / emails).
16.7 This Agreement is personal to the Borrower and his/her/its right and/or obligations under this Agreement shall
not be assignable by the Borrower directly or indirectly without the prior written consent of the Lender.
16.8 The Borrower agrees that any extension of time or other indulgence that may be granted by the Lender
shall not affect, prejudice or discharge the Lender’s rights and interests in relation thereto.
16.9 The Borrower agrees to accept as final, conclusive and binding proof, the correctness of any amounts
claimed by the Lender to be due from the Borrower to the Lender under this Agreement, a statement of
account made out from the books of the Lender and signed by the accountant or other duly authorised
officer of the Lender shall construed as final and conclusive and binding on the Borrower.
16.10 The Borrower agrees and acknowledges that the Lender shall have a right to call for such information, as it may
deem fit including but not limited to annual balance sheet and income tax returns of the Borrower.
16.11 The Borrower covenants and agrees that, save and except with the prior, specific and express written consent of
the Lender, the Borrower shall not: (a) create, assume or incur any further indebtedness to any person; or lend or
advance any amounts to any person; or undertake any guarantee or security obligation; (b) sell, license, let,
lease, transfer, alienate, dispose of in any manner whatsoever, surrender or otherwise encumber any of its assets,
rights, title or interest, receivables, or any part thereof; or create, facilitate or permit to exist any charge,
encumbrance or lien of any kind whatsoever over any of its property or grant any option or other right to
purchase, lease or otherwise acquire, any such assets or part thereof; (c) (in case the Borrower is a company)
declare any dividend; or change its capital structure or shareholding pattern in any manner; or make any
amendments to its constitutional documents; or issue any new shares or securities; or purchase, redeem, buyback
or reduce any or all of its share capital or otherwise make any payment in respect thereof; or enter into any
compromise arrangement with its shareholders or creditors, or pass a resolution of voluntary winding up or
implement any scheme for restructuring, reconstruction, consolidation, amalgamation, merger or other similar
purposes; (d) permit or effect any direct or indirect change in the legal or beneficial ownership or control; (e)
change business, or enter into any new business or line of business or effect any material change in the
management; (f) change/ cease/ retire from/ terminate/ resign from the present employment profession/business
disclosed in the application; or change, terminate or open any bank account. Further, in case the Borrower is a
company, it shall not induct on its board of directors, a person whose name appears in the list of wilful defaulters
and in case, such a person is found to be on its board, it would take expeditious and effective steps for removal
of the person from its board of directors.
16.12 The Borrower shall have the right, at the Borrower’s cost, to review the management set up or organisation of
the Borrower and to require the Borrower to restructure the same, as may be considered necessary by the
Lender, including the formation of management committees with such powers and functions as may be
considered suitable by the Lender. The Borrower shall comply with all such requirements of the Lender.
16.13 The Borrower agrees that the Lender shall have the right to appoint, whenever it considers necessary, a
technical, management or any other consultant(s) to inspect and examine the working of the Borrower and its
assets, including its premises, factories and facilities and to report to the Lender, at the Borrower’s cost.
16.14 The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to
different categories of borrowers is disclosed in the “Interest Rate Policy” of the Lender available on its website
www.ambit.co.

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17. ASSIGNMENT AND SECURITISATION:
17.1 The Borrower further agrees that the Lender may at any time at its sole discretion transfer or assign any of
its rights, benefits or obligations herein, in part or full, to any party without the consent of the Borrower.
The Borrower agrees to fulfill and perform all its obligations to such transferee/assigns.
17.2 The Borrower shall not be entitled to transfer or assign any of his/ her/ its rights or obligations under this
Agreement to any person directly or indirectly without the prior written consent of the Lender.
17.3 The Borrower expressly recognises and accepts that the Lender shall be absolutely entitled and have full
power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and
on such terms as the Lender may decide, including reserving a right to the Lender to retain its powers
hereunder to proceed against the Borrower on behalf of the purchaser, assignee or transferee, for any or all
outstanding and dues of the Borrower to any third party of the Lender’s choice without any prior reference
to the Lender or written intimation by or to the Lender.
17.4 Any such action and such sale, assignment, or transfer shall bind the Borrower to accept such third party as
creditor exclusively or as a joint creditor with the Lender or as creditor exclusively with the right to the
Lender to continue to exercise all powers hereunder on behalf of such third party and to pay over such
outstanding and dues to such third party and/or to the Lender as the Lender may direct.
17.5 The Lender may without any further consent of the Borrower and without intimation to the Borrower
assign to any person, Bank, Financial Institution or any other corporate/institution the Loan/ Loan
Amount/Outstanding Amount or any of its rights under this Agreement and in particular may assign such
rights by way of assignment/securitization/charge and any person to whom such rights are assigned shall
be entitled to the full benefit of all such rights of the Lender as per such terms and conditions agreed to by
the Lender.
17.6 If required the Borrower hereby agrees to execute necessary documents to facilitate assignment, transfer
and/ or sale by the Lender from time to time.
18. DELEGATION:
The Borrower expressly recognizes and accepts that the Lender shall, without prejudice to its right to
perform such activities itself or through its officers or employees, be entitled, and has full power and
authority so to do, to appoint one or more third parties as the Lender may select and to delegate to such
third party all or any of its functions, rights and powers under this Agreement relating to the administration
of the Loan including the right and authority to collect and receive on behalf of the Lender from the
Borrower all due and unpaid and other amounts due under this Agreement and to perform and execute all
lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices,
contacting the Borrower, receiving cash/ cheques/drafts/mandates from the Borrower and giving valid and
effectual receipts and discharge to the Borrower. For the purposes aforesaid or for any other purpose at the
discretion of the Lender, the Lender shall be entitled to disclose to such third parties all necessary and
relevant information pertaining to the Borrower and the Facility and the Borrower hereby consents to such
disclosure by the Lender. Notwithstanding the above, the Borrower expressly accepts and authorizes the
Lender (and/or any such third party as the Lender may select) to contact third parties (including the family
members of the Borrower) and disclose all necessary or relevant information pertaining to the Borrower
and the Facility and the Borrower hereby consents to such disclosure by the Lender (and/or any such third
party as the Lender may select).

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19. NOTICES:
19.1 The Lender shall be entitled to send any notice to the Borrower by email (at the email address of the
Borrower as per the records of the Lender) or prepaid post (at the addresses last known to it or provided by
the Borrower) or through a recorded telephone line (at the Borrower’s contact number as per the records of
the Lender). Any notice sent/communicated by the Lender by (a) email shall be deemed to have been
received when sent by the Lender, (b) prepaid post shall be deemed to have been received 3 (three) days
after the date of dispatch, and (c) recorded telephone line shall be deemed to have been communicated on
conclusion of the relevant telephonic conversation. Any notice to be sent to the Lender by the Borrower
shall be sent by email or prepaid post at the email addresses / addresses mentioned above.
19.2 The Borrower shall, 7 (seven) days in advance of any change in the email address / addresses / contact
number of the Borrower hereinabove given and as stated in the records, intimate the Lender in writing and
failing which any correspondence sent by the Lender to the Borrower to the email address / addresses and
any telephonic conversation on the contact number available in records of the Lender shall be deemed to
have been duly served upon.
20. IMPOSTS, COSTS AND EXPENSES:
20.1 The Borrower shall bear and pay all taxes, rates, duties, (including stamp duties) charges, and other
imposts and obligations, existing as well as future, in respect of the execution, delivery and performance of
the Facility Documents. For the avoidance of doubt, the Borrower shall be liable to incur stamp duty
arising on account of the Facility Documents being transported out of the jurisdiction of the state in which
it is stamped, including for the purposes of the Lender to enforce its rights under the Facility Documents.
20.2 In the event the Borrower fails to pay when due any sum which it may owe to the Lender and the Lender shall
commence legal proceedings to recover such sum, the Borrower will further pay the Lender all advances,
charges, cost and expenses, including reasonable legal fees, incurred or paid by the Lender in exercising any
right, power or remedy conferred by this Agreement, (or in the enforcement thereof) and all such sums shall
become a part of the indebtedness secured hereunder and shall be paid to the Lender by the Borrower
immediately and without delay.
20.3 The Borrower shall reimburse and pay to the Lender all costs, charges and expenses, (including legal costs
between legal counsels and client) for the preparation, execution, preservation, performance, and realisation of
the loan, security documents and other instruments creating and/or evidencing the creation of the security for the
Lender and also any other instruments required in connection with the loan.
21. OTHER IMPORTANT TERMS
21.1 The Lender on its part is not obligated to provide any statement(s) of the Loan account to the Borrower
during the course of this Agreement unless specifically requested by the Borrower.
21.2 Indemnity: Without prejudice to any other right of the Lender, the Borrower agrees to indemnify and keep
indemnified and hold harmless the Lender and its directors, employees and agents, immediately on
demand against any loss, costs, charges or expenses (including but not limited to legal fees, stamp duty,
registration and other similar taxes) alleged or incurred by it in connection with the arrangement,
negotiation, preparation, printing, execution, performance of, enforcement of or as a consequence of
occurrence of an Event of Default under the Facility Documents.

17
21.3 The Borrower shall make good to, and save, defend and hold harmless the Lender, its directors employees,
shareholders, agents, consultants, representatives from or against all, direct or indirect, claims, damages,
losses, costs and expenses, including attorneys' fees arising out of/ in relation to any act, omission, breach,
misrepresentation, fraud, misstatement or default by the Borrower and/or otherwise incurred by the Lender
as a result of any suit, investigation, etc. any other matter for any reason.
21.4 The Borrower agrees to comply with all Applicable Laws and regulations from time to time in force
including any amendments, modification or change thereof which may be made to any such laws and
regulation.
21.5 Reservation of Rights: No forbearance, indulgence or relaxation by the Lender at any time to require
performance of any of the provisions of this Agreement shall in any way affect, diminish or prejudice the
right of the Lender to require performance of the provision and any waiver or acquiescence by the Lender
of any breach of any of the provision of this Agreement shall not be construed as a waiver or acquiescence
of any continuing or succeeding breach of such provision time to require performance of any of the
provisions of this Agreement shall in any way affect, diminish or prejudice the right of the Lender to
require performance of the provision and any waiver or acquiescence by the Lender of any breach of any
of the provision of this Agreement shall not be construed as a waiver or acquiescence of any continuing or
succeeding breach of such provision.
21.6 Lien, Set-off: The Lender may exercise lien or right of set-off with respect to any obligation of the
Borrower to the Lender and shall have a lien on all properties or securities of the Borrower in the Lender 's
possession or custody whether for safe-keeping or otherwise.
21.7 Severability: If any provision of this Agreement is invalid or unenforceable or prohibited by law in any
respect, neither the legality, validity nor enforceability of the remaining provisions of this Agreement shall
in any way be affected or impaired thereby, and the Parties hereto further agree that they shall mutually
substitute for the part/s held to be illegal, invalid or unenforceable, lawful provisions so as to give effect to
the original intent of this Agreement.
21.8 Amendments: The Lender shall have the right to amend the terms and conditions of the Facility
Documents by informing the Borrower.
21.9 Waiver: No delay in exercising or omission to exercise any right, power or remedy accruing to the Lender
upon any default under this Agreement or Facility Document shall impair any such right, power or remedy
or shall be construed to be waiver thereof or any acquiescence in such.
21.10 Aadhaar KYC: The Borrower or the authorized signatories of the Borrower (where the Borrower is a non-
individual) hereby consents voluntarily at its/his/her own discretion to the submission of the physical copy of
self-attested Aadhaar card/physical e-Aadhaar / masked Aadhaar / offline electronic Aadhaar xml as issued by
UIDAI (Aadhaar), to the Lender for the purpose of establishing its/his/her identity / address proof, to fulfill the
Lender’s KYC requirements.
22. GOVERNING LAW AND JURISDICTION
22.1 The Loan, this document/other documents, shall be governed by the laws of India. The parties hereto
expressly agree that all disputes arising out of and/or relating to the Loan, this document or any other
Facility Document shall be subject to the exclusive jurisdiction of the courts/tribunals of Mumbai,
provided that the exclusivity aforesaid shall bind only the Borrower, and the Lender shall be entitled to
pursue the same in any other court of competent jurisdiction at any other place.

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23. DISPUTE RESOLUTION
23.1 Subject to the Lender’s right to exercise any remedies under the Recovery of Debts Due to Banks and
Financial Institutions Act, 1993 or the Insolvency and Bankruptcy Code, 2016, if available and/or
applicable, the Parties agree that at the option of the Lender, any dispute arising out of or in connection
with the Facility Documents or the performance of the Facility Documents (“Dispute”) may be referred to
arbitration by the Lenders, which decision shall be binding on the Borrower.
23.2 If the Lender chooses to refer a Dispute to arbitration, such Dispute shall be settled by arbitration
administered by the Mumbai Centre for International Arbitration (“MCIA”) in accordance with the
arbitration rules of the MCIA ("MCIA Rules") for the time being in force, which rules are deemed to be
incorporated by reference in this clause. The dispute shall be referred to a sole arbitrator to be appointed by
the Lender and the award thereupon shall be binding upon the parties to this Agreement.
23.3 Any such arbitration shall be:
(a) proceeded in English and the seat of arbitration shall be Mumbai, India or such other place as may be
solely decided by the Lender.
(b) The venue of arbitration shall be as decided by the Lender.
(c) Any arbitral judgments made in accordance with this provision and shall be conclusive and binding
on the Parties and that the Parties shall be entitled to commence or maintain any action in a court of
law in relation to the dispute inclusive of the enforcement of an arbitral award granted, or to the
extent permitted under law. The Parties agree that the relevant courts of competent jurisdiction shall
have the jurisdiction to entertain any proceedings for interim relief related to this Agreement.
IN WITNESS WHEREOF the Parties to the Agreement have caused these presents to be executed as of the
date and year first above written.
Signed for and on behalf of Signed for and on behalf of Signed for and on behalf of
Lender AMBIT FINVEST Borrower Co-Borrower (as applicable)

PRIVATE LIMITED

19
By By By
Title Title Title
Signed for and on behalf of Signed for and on behalf of
Co-Borrower (as applicable) Co-Borrower (as applicable)
By By
Title Title

20
SCHEDULE
DETAILS OF THE FACILITY
DETAILS OF THE BORROWER(S)
BORROWER 1
Name of the Borrower 1: AKY HOSPITALITY
Registered Office/ Branch Office/

GR FLR NO 303 ASHOK TERRACE 100 FEET ROAD INDIRANAGAR BENGALURU URBAN KARNATAKA 560038, City: Bangalore,
Pincode: 560038, Landmark: ., State: Karnataka, Mobile Number: 7642023961, Email:khuraijammarina@gmail.com
Residential Address
Place Mumbai
CO-BORROWER(S) (if applicable)
Name of the Co-Borrower(s): MARINA KHURAIJAM
Residential Address
NO 149 FLAT NO 8 4TH FLR CHOWDESHWARI HOMES 11TH MAIN 9TH CROSS INDIRANAGAR 2ND STAGE, City: Bangalore,
Pincode: 560008, Landmark: BANGALORE 560008, State: Karnataka, Mobile Number: 7642023961,
Email:khuraijammarina@gmail.com
Place Mumbai

21
Name of the Co-Borrower(s): SUJATA SURESH PARAB
Signature of Borrower
Residential Address
B 402 RAM RAHIM MANZIL APT AMBADI ROAD OM NAGAR DHURI COMPLEX VASAI ROAD WEST THANE 401202, City: Thane,
Pincode: 401202, Landmark: ., State: Maharashtra, Mobile Number: 9766629590, Email:parabsujata71@gmail.com
Signature of Co-Borrower (as

Place Mumbai
CO-BORROWER(S)(ifapplicable)
applicable)
Name of the Co-Borrower(s):
Residential Address

applicable)
Place


applicable)
Residential Address
Place

22
Residential Address
Place
Residential Address
Place
FACILITY TERMS
Date of Execution
Branch of Lender Mumbai
Commitment
Purpose of the Facility Working Capital
Type of Loan Udyam Loan

Payment Account A/c No: 1821234020167252
Account Holder’s
Ambit Finvest Pvt Ltd
Name:
IFSC Code: AUBL0002340
Bank:
AU Small Finance Bank Ltd
or such other account
which the Lender may
notify the Borrower in writing
Facility Tenor
36
Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

Signature of Borrower
23
End Use/ Purpose

Working Capital
Conditions Precedent 1. Submission of KYC documents to the satisfaction of the

Lender
2. Submission of post dated cheques in a form and manner
to the satisfaction of the Lender.
3. Submission of loan application form.
4. Submission of disbursement request form to the

5. Submission of banker’s verification of signature to the

6. Submission of board resolution/ authority letter/

proprietor’s letter to the satisfaction of the Lender.
7. Depositing post dated cheques along with submission of

a letter recording the same, to the satisfaction of the
Lender.
8. Such other conditions as may be prescribed by the

Lender.
INTEREST TERMS
Interest type
(Fixed/Floating)
_______________________
Floating interest rate
Interest Rate
_________%
30 per annum
(Annualized)
The rate of interest will be charged at monthly rest basis
linked to AFPLR. The rate of interest may undergo a change
and the final rate shall be derived at the time of disbursal and
applicable thereof. The rate of interest is subject to change as
may be notified to you from time to time.
At Ambit Finvest Private Limited, we have adopted risk based

pricing which is arrived at after taking into account broad
parameters like customer profile, financials, sources of funds,
risk profile of the customer, nature of lending etc. and hence
rate of interest may differ across the Borrowers.
EMI Dates
05
Advance EMI

24
Prepayment Charges 4%* on principal outstanding amount as on foreclosure date.
* There are no foreclosure charges/ pre-payment penalties on

floating rate term loans sanctioned to individual borrowers.
Default Interest up to 36% p.a. on overdue / delays / defaults of any

monies payable.
OTHER CHARGES
Commitment Fee
Review Fee Up to 0.75 % of the facility review amount.
Processing Fee Non-refundable amount collected up to 3 % of Loan

Amount sanctioned plus applicable taxes. Part of fees may be
collected upfront towards legal and valuation expenses
incurred prior to loan sanction. In case of closure and new
booking of loan, adjustment or refund of fees shall be at the
sole discretion of the Company
Service Tax on As specified by Government of India

Processing Charges
Cheque/ ECS / SI Rs. 590 (without prejudice to Lender's civil and criminal
Return Charges: rights and remedies)
Duplicate No Due Rs. 295/- (Inclusive of applicable taxes) per instance

Confirmation/Objection
Certificate
Administration Rs. 500/- (Inclusive of applicable taxes)
Charges
Swapping Charges Rs. 295/- (Inclusive of applicable taxes) per instance of
change in mode of repayment.
Document Scan Rs.1180/- (Inclusive of applicable taxes) per instance

Charges
Retention Charges 0.50% (Inclusive of applicable taxes) of principal
outstanding amount.
Stamp Duty & Other As per Applicable Laws of the State
Statutory Charges
Taxes At actuals, applicable presently or in future
Filling & registration As per actuals
Audit, Inspection & As per actuals

verification

25
(where applicable)
Arbitration Charges As Applicable
Filing Charges under As Applicable

Section 138 of
Negotiable Instruments
Act, 1881
Notice As Applicable
Legal Notice As Applicable
Receiver Order As Applicable
Execution of Award As Applicable
Loan Cancellation As Applicable

Charges

DISBURSEMENT REQUEST LETTER
Dated:
To,
The Manager,
Ambit Finvest Private Limited (“AFPL”).
Sir,
Subject: - Disbursement Request Letter
Pursuant to the Loan Agreement dated ________________ executed between AFPL and us/myself, I/we
have been sanctioned a Loan of Rs. _______________________
5,00,000.00 AFPL vide Account
No.___________________________________.
HOD000000049002
I confirm that I have complied with the terms of the Loan Agreement including the conditions precedent
set out therein.
I, hereby, request you to remit the proceeds of the disbursement into the following account (after
deduction of applicable interest, charges, fees and taxes):
Name of Payee Bank Name & Account No Amount (Rs.)
AKY HOSPITALITY HDFC BANK

&
50200045311923 5,00,000.00
Thanking you.
Yours Faithfully,
_________________
Name:______________
For ________________
DEMAND PROMISSORY NOTE
Date: _________
ON DEMAND I/WE _____________________________________________________________________

MARINA KHURAIJAM/AKY HOSPITALITY
a company registered under the provisions of the Companies Act 1956/ the Companies Act
2013/ Partnership Firm registered with the Registrar of Firms/ Sole Proprietorship Firm/
Individual, having its registered office/place of business/ residence at
_________________________________________________________________________________________
GR FLR NO 303 ASHOK TERRACE 100 FEET ROAD INDIRANA
_________________________________________________________________________________________
GAR BENGALURU URBAN KARNATAKA 560038
/a Hindu Unidivided Family/ a Trust formed under the Indian Trusts Act, 1882/ Society formed under
applicable law, and acting through Mr./ Mrs ____________________ duly authorised pursuant to vide
Board Resolution/ Letter of Authority/ Power of Attorney dated ____________ (hereinafter referred to as the
“Borrower” and shall include our successors and permitted assigns), unconditionally and irrevocably promise
to pay to Ambit Finvest Private Limited, a company validly existing under the Companies Act, 2013
and having its registered offices at Ambit House, 449, Senapati Bapat Marg, Lower Parel, Mumbai
400013 (the “Lender”, including its successors, transferee, novatee and assigns), under the loan agreement
dated on or about the date hereof (the “Loan Agreement”) executed inter alia between the Borrower
and the Lender, or on order, at the office of the Lender at _________________________________
Mumbai
______________________________________________________________________________, or
wherever else as demanded by the Lender, notwithstanding non-presentment, the sum of Rs. 5,00,000.00
(“Loan”) along with interest payable at the rate of _______%
30 (_________________________
Thirty percent) payable
with monthly rests as communicated to the Borrower, till the date of final payment (“Interest”
together with the Loan collectively referred to as “Amounts Due”). We agree and accept that on
default of payment of any instalment in respect of the Amounts Due, the balance unpaid Amounts Due
shall become due and payable, and an additional default interest at the rate of 36 % (Thirty Six
Percent) per annum on the unpaid Amounts Due shall be payable.
Unless otherwise defined herein, capitalised terms used in this letter shall have the meaning given to them in
the Loan Agreement.
(Please sign across Revenue Stamp)

SIGNED AND DELIVERED by __________
_________________________________________ as
the BORROWER by affixing its common seal
pursuant to the resolution of its Board of Directors on
______________________________________, in the
presence of
________________________________________,
Director, who has signed these presents in token
thereof.
1
SIGNED AND DELIVERED by ___________
_____________________ as the BORROWER by
________________________________________, its
proprietor, who has signed these presents in token
thereof.

________________________________________, its
Karta, who has signed these presents in token thereof.

________________________________________, its
authorized signatory, who has signed these presents
in token thereof.

________________________________________, its
authorized signatory, who has signed these presents
in token thereof.
2
Date :
To,
The Manager,
Ambit Finvest Private Limited (“AFPL”)
SUBJECT: ACKNOWLEDGEMENT OF DISBURSEMENT FOR LOAN/FACILITY SANCTIONED
I/We hereby confirm that we have received the Disbursement of an amount of

INR____________________, in respect of the loan/facility sanctioned by AFPL to me/us vide the
Loan Agreement dated _________________ executed between AFPL and me/us, through Cheque
no. …………………….. / RTGS / NEFT on _____ day of ________, 20__.
Place: Mumbai
Yours Faithfully
Name :
Signature :
LETTER OF CONTINUITY
To,
Ambit Finvest Private Limited

Ambit House, 449, Senapati Bapat Marg,
Lower Parel, Mumbai 400013
Dear Sirs,
With reference to the Demand Promissory Note dated on or about the date hereof signed by us in your favour
for INR _________________
5,00,000.00 (Rupees _________________________________________
Five Lakh only) with interest
thereon @ ____%
30 per annum/month/quarter or as otherwise agreed, for the value received, we do hereby agree
and undertake that the said Demand Promissory Note is to stand and be regarded as a continuing security and be
enforceable for all monies which now are or which may at any time hereafter become due and owing by us to
you pursuant to the abovementioned Promissory Note.
Dated this ______________________ day of __________
SIGNED AND DELIVERED by __________

_________________________________________ as the
BORROWER by affixing its common seal pursuant to the
resolution of its Board of Directors on
______________________________________, in the
presence of
________________________________________, Director,
who has signed these presents in token thereof.

________________________________________, its
authorized partner, who has signed these presents in token
thereof.

________________________________________, its
proprietor, who has signed these presents in token thereof.

________________________________________, its Karta,
who has signed these presents in token thereof.
On Borrowers Letter Head
To, Date:
Mr.
Ambit Finvest Private Limited (“Lender “ )
Mumbai
Dear Sirs,
Ref: Loan Agreement dated ________________
In part discharge of my/our liabilities in respect of the aforesaid Loan Agreement, I / We hereby submit the following
cheque to the Lender drawn in favour of “Ambit Finvest Private Limited” towards repayment of obligations with the details
as mentioned below:
Security Post Dated Cheques (SPDC):
Cheque Number Amount (Rs.) Issuing Bank Name Issuing Bank A/c No Name
From To
Post Dated Cheques (PDC):
Cheque Number Amount (Rs.) Issuing Bank Name Issuing Bank, A/c No Name
From To
I / We:
(a) Agree and confirm that in accordance with the provisions of Section 20 of the Negotiable Instruments Act, 1881
the Lender as the holder of the said cheque shall have the authority to complete the above cheque if required. I /
We also authorize the Lender to deposit the said cheque on the due date and also undertake to maintain sufficient
balance in the account.
(b) Undertake to honour the said cheque when presented for payment and not to take any steps, which in any way,
affect or are likely to affect the payment thereunder to the Lender including, without limitation, any stop payment
instructions.
(c) Agree that prior written consent of the Lender shall be required for changing the authorised signatories for the relevant
Lender account(s) from which the said cheque is submitted. In the event of any changes to the authorised signatories for
its relevant Lender account(s), I / We shall either give unconditional and irrevocable instructions to the Lender on whom
the said cheque has been drawn to clear and honour the said cheque (details of which shall be provided to the Lender in
full details) bearing the signatures of the authorised signatories before the change or, in
the alternative, I / We shall issue fresh cheque, duly signed by me / us, to the Lender bearing the signatures of the
new authorised signatories.
(d) Undertake to replace the cheque in the event the cheque issued as above by me/us is lost in transit or misplaced
or for any reason the Lender is not able to put the cheque in clearing, and give replacement cheque to the Lender
immediately upon receipt of a written request from the Lender in this regard.
(e) Am/Are aware that in case of any default on our part in honoring the amount due and payable by us to the Lender,
the Lender shall have the right to present the above cheque and we unconditionally and irrevocably agree that we
shall upon such presentation honour the said cheque without demur.
(f) Agree and acknowledge that dis-honor of the said cheque would make me / us liable including under the
provisions of section 138 of the Negotiable Instruments Act, 1881.
(g) Confirm that in consideration of the above arrangement I/We have handed over the above cheque to the Lender.
Thanking you,
Yours truly,
Name of Borrower/Co Borrower:
Signature:
END USE UNDERTAKING
Date ________________
To,
AMBIT FINVEST PRIVATE LIMITED
In respect of the facility amounting to Rs. _________________

5,00,000.00 Granted By AMBIT FINVEST
PRIVATE LIMITED to us, I/We , _________________________________________________
AKY HOSPITALITY
_______________________________, having its office/ residing at

_____________________________________________________________________________________
GR FLR NO 303 ASHOK TERRACE 100 FEET ROAD INDIRANA
_____________________________________________________________________________________
GAR BENGALURU URBAN KARNATAKA 560038
(“Borrower”) hereby undertake, agree and confirm.
1. We hereby confirm that a facility of Rs. _________________

5,00,000.00 has been granted to us by
AMBIT FINVEST PRIVATE LIMITED under the loan agreement dated ________________
(“Loan Agreement”)
2. As a pre-condition for availing the aforesaid facility, we are required to undertake, we shall use the
funds received by us from AMBIT FINVEST PRIVATE LIMITED under the aforesaid Loan
Agreement for the purpose specified in the Loan Agreement and shall submit all the evidence to
the satisfaction of AMBIT FINVEST PRIVATE LIMITED regarding the usage of funds.
3. We hereby undertake, agree and affirm that, we will use the funds received by us from AMBIT
FINVEST PRIVATE LIMITED under the aforesaid Loan Agreement for the purpose specified
and shall submit all the evidence to the satisfaction of AMBIT FINVEST PRIVATE LIMITED
regarding the usage of funds.
4. We hereby agree and confirm that AMBIT FINVEST PRIVATE LIMITED has granted us the
above-mentioned facility based on the above -mentioned condition.
5. We further understand, agree and confirm that a failure to comply with the undertaking provided
hereinabove shall be considered an “Event of Default” under the Loan
Agreement.
6. WE, hereby indemnify and shall keep indemnified AMBIT FINVEST PRIVATE LIMITED,
against all proceedings civil and/or criminal, claims, expenses and liabilities whatsoever which
may be taken or made against or incurred by AMBIT FINVEST PRIVATE LIMITED, by reason
of any liability arising hereunder.
7. For the aforesaid purpose, we undertake to execute such further deed(s), affidavit(s), document(s)
and/or letter(s) as may be required by the AMBIT FINVEST PRIVATE LIMITED from time to
time.
Yours faithfully,
________________
For _________________
SOLE PROPRIETORS’ RESPONSIBILITY AND LIABILITY STATEMENT
This Statement and Declaration (“Declaration”) is given at place on this day as mentioned in the Schedule
BY
I, the undersigned Declarant being an individual as also proprietor of a proprietary concern/s (severally and/or
collectively called the “said Firm”) (more particularly described in the Schedule attached herewith) residing at /
having its Lender place of business at the place mentioned in the Schedule attached.
IN FAVOUR OF
AMBIT FINVEST PRIVATE LIMITED, a company, incorporated under the provisions of the Companies
Act 1956 (CIN U65999MH2006PTC163257), having its registered office at Ambit House, 449, Senapati Bapat
Marg, Lower Parel, Mumbai 400013 (hereinafter referred as “AFPL” or “the Lender” which expression shall,
unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors in
interest, assigns, holding or subsidiary company and/or associates)”
Whereas, under an Agreement (hereinafter called “the Loan Agreement”) (details of the Loan Agreement is
mentioned in the Schedule attached) entered into between AFPL and myself/proprietorship firm through myself
as the proprietor (hereinafter referred to as “the Borrower”) AFPL has, at the request of the Borrower,
granted/agreed to grant to the Borrower, a financial facility aggregating to the maximum amount as mentioned
in the said Loan Agreement (“Financial Facility”) on the terms and conditions set out in the Loan Agreement.
And whereas, in furtherance to the grant of the Financial Facility and in pursuance thereof at the request of the
Lender to the Borrower, I in my individual capacity and/or in my capacity as proprietor of the said Firm hereby
declare and confirm as under:
1. I and/or the said Firm shall jointly and severally pay the loan amount/dues payable in respect of the
Financial Facility, together with interest and outstanding amount including other charges payable as per
the Loan Agreement.
2. The liability of the said Borrower shall at all times be and deemed to be my liability and the liability of
myself shall be construed to be the liability of the said Firm and I shall be liable personally for
payment/repayment of the liability of the said firm or myself to the Lender as per the Loan Agreement.
Therefore, where Financial Facility obtained under the Loan Agreement either by me or by the said
Firm, both myself and the said Firm shall jointly and severally be liable and continue to remain liable
for the repayment of the Financial Facility.
3. All my present and future personal assets, present and future assets of the said Firm and present and
future assets of all other firms owned by me or belonging to me presently ( the details whereof are
described in Schedule attached hereto ) or that may be owned by me or belong to me in future, shall be
deemed to be and construed as my assets and/or the assets of the said Firm and all such assets put
together shall be available to the Lender towards discharge of my and/or the said Borrower’s liability to
the Lender in case of any default or breach of the Loan Agreement/s committed by me or the said Firm
(as the case may be).
4. I and the said Firm and all other firms owned by/belonging to me presently (the details whereof are
described in Schedule attached hereto) or that may be owned by me or belong to me in future, shall be
jointly and severally liable for the due repayment of the Financial Facility granted by the Lender to the
Borrower either by me or by the said Firm.
5. I shall not deny and/or cause to be denied the obligation and or the liability of myself and/or the
liability of the said Firm and/or myself, the said firm and all other firms owned by/belonging to me
presently (the details whereof are described in Schedule attached hereto) or that may be owned by me
or belong to me in future,shall be jointly and severally liable to repay to the Lender the Financial
facility together with the outstanding amount as per the said agreement/s.
6. I further state that till the repayment of the entire Financial Facility together with the outstanding
amountd thereunder, I shall not dispose of the fixed assets of the said Firm or of any other firm owned
by/belonging to me (the details whereof are described in Schedule attached hereto) or the immovable
property belonging to me, failing which, it shall be construed to be the breach of this declaration ,
which shall ipso facto lead to the breach of the said agreement/s and shall be deemed to be an “Event of
Default” under the Loan Agreement and the Lender shall be entitled to all the remedies including but
not limited to proceeding against me/the said firm or any other firm owned by/belonging to me ( the
details whereof are described in Schedule attached hereto), which I admit and acknowledge.
7. I further state that the responsibility and liability of myself and the said Firm towards the Lender shall
be primary and absolute and shall not be of affected by the occurrence of any circumstances, how
fundamental those circumstances be and shall not be impaired or discharged by reason of any time
given or forbearance on the part of the Lender or any indulgence shown in repayment of the loan
amount or the Lender failing to enforce its other remedies to recover the Financial Facility together
with interest and other monies.
8. The Lender is entitled to accept and encash any cheque that may be drawn by me on my personal
account or drawn by the said Firm on the said Firm’s Bank account or drawn by any of my other firms
(the details whereof are described in Schedule attached hereto) on its Bank account, towards repayment
of any amount in respect of the Financial Facility granted to either me to the Borrower and the Lender
is entitled to irrevocably deposit this towards discharge of my or the Borrower’s liability (as the case
may be) either in full or in part thereof without in any way limiting any other rights it may have in law
or contract. I further confirm and state that in case of dishonour/non-payment of such cheques tendered
by me or the said Firm or any other firm owned by /belonging to me (the details whereof are described
in Schedule attached hereto), I shall be personally liable for action as contemplated under the
provisions of the Negotiable Instruments Act, 1881.
9. This Declaration shall be binding on my heirs, executors, administrators and assigns.
10. This declaration is in addition to the said Loan Agreement signed by me/the said Firm and the same
shall form a part and parcel of and be read with the said Loan Agreement.
11. I confirm and declare that this declaration will be binding on my estate.
IN WITNESS WHEREOF the Declarant has hereto set his/her hands on this statement of responsibility
and liability on the day and year first hereinabove written.
SIGNED AND DELIVERED)
by the within named Declarant)
Mr.____________________________________
MARINA KHURAIJAM ) Signature
in his individual capacity)
and/or as proprietor of the said Firm) Signature with Proprietorship Stamp

SCHEDULE
Place Mumbai
Date
Name of Declarant MARINA KHURAIJAM
NO 149 FLAT NO 8 4TH FLR CHOWDESHWARI HOMES 11TH

MAIN 9TH CROSS INDIRANAGAR 2ND STAGE, City: Bangalore,
Pincode: 560008, Landmark: BANGALORE 560008, State:
Address of Declarant Karnataka, Mobile Number: 7642023961,
Email:khuraijammarina@gmail.com
Date of Loan Agreement
Date of MITC
AKY HOSPITALITY
GR FLR NO 303 ASHOK TERRACE 100 FEET ROAD INDIRANAGAR

Name and address of Proprietorship Firm BENGALURU URBAN KARNATAKA 560038, City: Bangalore,
Pincode: 560038, Landmark: ., State: Karnataka, Mobile Number:
7642023961, Email:khuraijammarina@gmail.com
Name and address of Other Proprietorship

Firms owned by Declarant
MOST IMPORTANT TERMS AND CONDITIONS (MITC)
Repayment:-
 The Loan is to be repaid by way of Equated Monthly Instalments (EMI) over the tenure of the Loan.
 Repayment can be made by way of ECS/ Standing Instruction/Cheques or as the Bank may accept. Before
commencement of EMI, the Borrower may be liable to pay Pre-EMI Interest (PEMII)
 The Loan will be considered as fully repaid only when all the dues are paid and the outstanding loan amount
becomes zero.
Terms:-
Loan Amount
Sanctioned INR 500000
Tenor 36 months
Interest Rate 30 per annum.

(Per Annum)
(Annualized) The rate of interest and the approach for gradations of risk and rationale for charging
different rate of interest to different categories of borrowers is disclosed in the Interest
Rate policy of Ambit Finvest Private Limited available on its website www.ambit.co
Purpose or End
Working Capital
Use of the Loan
EMI Dates 05th of Every Month
Interest Payment Monthly rests, unless otherwise specified. Interest is calculated on daily outstanding
amount.
Processing Fees Non-refundable amount collected up to ____% 3 of loan amount sanctioned/ facility
amount plus applicable taxes. Part of fees may be collected upfront towards legal and
valuation expenses incurred prior to loan sanction. In case of closure and new booking of
loan, adjustment or refund of fees shall be at the sole discretion of the Company
Review Fees Up to 0.75 % of the facility review amount.
Additional Charged up to 24% p.a. on overdue / delays / defaults of any monies payable.
Interest
Pre – payment Charge of 4.00%* would be charged on principal outstanding amount as on foreclosure
charges date.
*There are no foreclosure charges/ pre-payment penalties on floating rate term loans
sanctioned to individual borrowers.
Swapping Rs. 295/- (Inclusive of applicable taxes) per instance of change in mode of repayment.
Charges
Administration Rs.1770 (Inclusive of applicable taxes)
Charges
Repayment NIL
Schedule
Statement of NIL
Accounts (SoA)
Duplicate NOC or Rs. 295/- (Inclusive of applicable taxes) per instance
NDC
Document Scan Rs.1180/- (Inclusive of applicable taxes) per instance
Charges
Retention Charges 0.50% / (Inclusive of applicable taxes) of principal outstanding amount.
Stamp Duty & As per applicable laws of the state

Other Statutory
charges
Filling & As per actuals
registration
Audit, Inspection As per actuals
& verification(
where applicable)
Penal Charges:
Type of default Charges

Delay in payment of interest/repayment of 24% p.a.
principal
Cheque / EMI Bounce Charges Rs 590/- per bounce (without prejudice to Lender's civil
and criminal rights and remedies)
Illustrative List of Know Your Customer Documents required is enclosed to the Application Form.
Note: Changes in interest rates if any and charges shall be effected prospectively.
For schedule of fees and changes, please visit our website: www.ambit.co
Authorised Signatory
I/We have received, read and understood the above terms and conditions and all fees, charges, deductions,
etc. applicable to the Loan have been explained to me/us.
Applicant/Borrower and Co-Applicant/Co-Borrower

DOCUMENT CHECKLIST*
To process your loan/facility application, we would require documents which are applicable to your business
profile from the list given below:
1) Proof of Identity: Voter’s ID Card/Passport/Driving Licences/Pan Card/Signature Identification from present

bankers of proprietor partner of director (If a Company)
2) Proof of Residence: Recent telephone bills, electricity bill, property tax receipt/passport/Voters’ id card of
proprietor, partner of director (If a Company)
3) Proof of Business Address.
4) Applicant should not be defaulter in any bank/financial institution.
5) In case of applications for loans of Rs. 2 lakhs and above - Last three years balance sheets of the units along
with income tax /Sales tax returns etc. (Application for all cases form Rs.2 Lakhs and above).
6) Memorandum and articles of association of the company/Partnership Deed of the partners/ other relevant
constitutional document of the Borrower.
7) Assets and liabilities statement of promoters and guarantors along with latest income tax returns.
8) Rent Agreement (if business premises on rent)
9) Clearance from pollution control board (if applicable).
10) SSI/MSME registration if applicable.
11) Projected balance sheets for the next two years in case of working capital limits and for the period of the loan
in case of term loan (For all cases of RS. 2 Lakhs and above).
12) In case of takeover of advances, sanction letters of facilities being availed from existing bankers/Financial
Institutions along with detailed terms and conditions.
13) For Cases with Exposure above Rs. 25 Lakhs, the Borrower’s audited balance sheets are necessary. However,
for cases below fund based limits of Rs. 25 Lakhs, if audited balance sheets are not available, then unaudited
balance sheets are also acceptable as per extant instruction of the bank.
14) Profile of the unit (Includes names of promoters, other director in the company, the activity being undertaken
addresses of all offices and plants shareholding pattern etc.
15) Last three years balance sheets of the associate/Group Companies (If any).
16) Project Report (for the proposed project if term funding is required) containing details of the machinery to be
acquired, from whom to be acquired price names of Suppliers, financial details like capacity of machines,
capacity of utilization assumed, production, sales, projected profit and loss and balance sheet for the next 7 to
8 years till the proposed loan is to be paid the details of labour, staff to be hired basis of assumption of such
financial details etc.
17) Review of accounts containing month wise sales (quantity and value both), production (quantity and value)
imported raw material (quantity and value), indigenous raw material (quantity and value),value of stock in
process, finished goods (quantity and value) debtors, creditors, bank’s outstanding for working capital limits,
term loan limit, bills discounted.
18) Manufacturing process (if applicable, major profile of company, any tie-ups details about raw material user
and their suppliers details about the buyers, details about major -competitors, and the company’s strength and
weakness as compared to their competitors etc.
*The check list is only indicative and not exhaustive. Depending upon the local requirements at different places,
additional items may be sought from you.
Authorised Signatory
Accepted:
Signature of Applicant/Borrower Signature of Co-Applicant/Borrower

DOCUMENT CHECKLIST
1) Proof of Iden ty :Voter’s ID Card/Passport/Driving Licences/Pan Card/Signature Iden fica on from

present bankers of proprietor partner of director (If a Company)
2) Proof of residence : Recent telephone bills, electricity bill, property tax receipt/passport/Voters’ id card
of proprietor, partner of director (If a Company)
3) Proof of business Address.
4) Applicant should not be defaulter in any bank/F.I
5) Last three years balance sheets of the units along with income tax /Sales tax returns etc.(Applica on for all
cases form Rs.2 Lakhs and above)However, for cases below fund based limits Rs. 25 Lakhs if audited
balance sheets are not available ,then unaudited balance sheets are also acceptable as per extant
instruc on of the bank.
6) Memorandum and ar cles associates of the company/Partnership Deed of the partners etc.
7) Assets and liabili es statement of promoters and guarantors along with latest income tax returns.
8) Rent Agreement (if business premises on rent) and clearance form pollu on control board if applicable.
9) SSI/MSME registra on if applicable.
10) Projected balance sheets for the next two year in case of working capital limits and for the period of the
loan in case of term loan (For all cases of RS. 2 Lakhs and above).
11) In case of takeover of advances, sanc on le ers of facili es being availed from exis ng
bankers/Financial Ins tu ons along with detailed terms and condi ons.
12) Photocopies of lease deeds/ tle deeds of all the proper es being offered as primary and collateral
securi es. For Cases with Exposure above Rs. 25 Lakhs
13) The Audited balance sheets are necessary.
14) Profile of the unit (Includes names of promoters, other director in the company, the ac vity
being undertaken addresses of all offices and plants shareholding pa ern etc.
15) Last three years balance sheets of the associate/Group Companies (If Any).
16) Project Report (for the proposed project if term funding is required) containing details of the machinery to
be acquired, from whom to be acquired price names of Suppliers, financial details like capacity of machines,
capacity of u liza on assumed, produc on, sales, projected profit and loss and balance sheet for the next 7
to 8 years ll the proposed loan is to be paid the details of labour, staff to be hired basis of assump on of
such financial details etc.
17) Review of accounts containing month wise sales (quan ty and value both)Produc on (quan ty and value)
imported raw material (quan ty and value), Indigenous raw material (quan ty and value),value of stock in
process, finished goods (quan ty and value) debtors, creditors, bank’s outstanding for working capital
limits, term loan limit, bills discounted.
18) Manufacturing process if applicable, major profile of execu ve sin the company, any e-ups details about
raw material user and their suppliers details about the buyers, details about major -compe tors, and the
company’s strength and weakness as compared to their compe tors etc. (The check list is only indica ve an
not exhaus ve and depending upon the local requirements at different places addi on could be made as
per (necessity).
Descrip on of Charges:
Interest Payment Monthly rests , unless otherwise specified ,

Interest is calculated on daily outstanding
Processing Fees Non-refundable amount collected up to ____%3
of facility amount plus applicable taxes. Part of
fees may be collected upfront towards legal and
valua on expenses incurred prior to loan
sanc on. In case of closure and new booking of
loan adjustment or refund of fees shall be at
the
sole discre on of the company
Review Fees Up to 0.75 % of the facility review amount
Addi onal Interest Charged up to 2.00 % p.m. on overdue / delays
/ defaults of any monies payable
Pre – payment charges Charges up to 4% of the total limit sanc oned, In
case the facili es are taken over by another
bank during the tenor of the loan. For term
loans it
would charges on principal outstanding as
on date
Cheqe Bounce Charges Rs. 550/- + Service Tax as applicable
Stamp Duty & Other Statutory charges As per applicable laws of the state
Filling & registra on As specifically agreed
Audit, Inspec on & verifica on( where As specifically agreed
applicable)
Account Maintenance Charges As specifically agreed
Rate of Interest ………………%

30
Term of repayment 36
……………………………………………months
EMI 21226
Rs. ………………………………………
Number of EMI’s ……………………………………………
36
EMI start date 05 08 2022
…………/………………/………………
First EMI due on 08
…………/………………/………………
05 2022
For details schedule of fees and changes please visit our website: www.Ambit.co

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1

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

1. DEFINITIONS AND INTERPRETATIONS:

Definitions: In this Agreement unless the context otherwise requires:

‘Facility Documents’ mean collectively:

(a) this Agreement;

(b) the Demand Promissory Note and the Letter of Continuity;

(c) the MITC;

(d) the Application

(e) the Undertakings and letters in relation to the Facility; and

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

‘Purpose’ shall have the meaning ascribed to it in the Schedule;

Unless the context or meaning thereof otherwise requires:

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

6. INTEREST & OTHER CHARGES

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

7. REPAYMENT AND PREPAYMENT

8. DUE DATE OF PAYMENT

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

9. PLACE AND MODE OF PAYMENTS

11. REPRESENTATIONS AND WARRANTIES

(a) in case of the Borrower being a corporate entity or partnership firm:

(c) in case of the Borrower being an individual:

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

(d) In case of the Borrower being a Hindu Undivided Family,

Signature of Borrower Signature of Co-Borrower Signature of Co-Borrower Signature of Co-Borrower

12. FURTHER COVENANTS:

12.1 The Borrower hereby agrees covenants and warrants as follows:

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14. EVENT OF DEFAULT

An event of default shall be deemed to have occurred if:

(j) Occurrence of a Material Adverse Effect;

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(iii) a composition, assignment or arrangement with any creditor of the Borrower;

15. CONSEQUENCES UPON EVENT OF DEFAULT:

(b) cancel any undrawn amount of Facility, or

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16. DISCLOSURES AND UNDERTAKINGS OF BORROWERS:

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17. ASSIGNMENT AND SECURITISATION:

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20. IMPOSTS, COSTS AND EXPENSES:

21. OTHER IMPORTANT TERMS

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22. GOVERNING LAW AND JURISDICTION

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23. DISPUTE RESOLUTION

23.3 Any such arbitration shall be:

(b) The venue of arbitration shall be as decided by the Lender.

Lender AMBIT FINVEST Borrower Co-Borrower (as applicable)

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Title Title Title

Signed for and on behalf of Signed for and on behalf of

Co-Borrower (as applicable) Co-Borrower (as applicable)

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DETAILS OF THE FACILITY

DETAILS OF THE BORROWER(S)

Name of the Borrower 1: AKY HOSPITALITY

Registered Office/ Branch Office/

CO-BORROWER(S) (if applicable)

Name of the Co-Borrower(s): MARINA KHURAIJAM

Dated this ____________ day of