CONSULTANCY AGREEMENT

This is made and executed today on the 3rd May, 2023 by and between the following:

ELECTROSTEEL CASTINGS LIMITED situated at G. K. Tower, 19, Camac Street,

Kolkata- 700017 and incorporated under the provisions of the Companies Act 1956
(Hereinafter referred to as the Company);

and

Subrata Sarkar, S/o Late B.P. Sarkar, residing at Village - Patul, P.O. - Ilahipur, Dist.
Hooghly, Pin code: 712706 (Hereinafter referred to as the Consultant).

WHEREAS the Consultant has offered to render his professional services in Electrosteel Castings
Limited, in the capacity as an independent Professional Consultant in the area of Business
Development Department of the company, which, in the opinion of the company, would further the
interests of the company and be of use to the company.

AND WHEREAS the company has agreed to avail of such consultancy services and the company
agrees to retain the Consultant for rendering of these services;

THUS, THIS AGREEMENT, WHICH WITNESSETH AS FOLLOWS:

1. The company shall retain the Consultant and the Consultant agrees to serve in that capacity at all
such reasonable times, as the company / work may require, during the currency of this
agreement.

2. The Consultant shall be based at Kolkata office and render such consultancy services relating to
the project work for the company, as the company may from time to time require.

3. The Consultant hereby expresses, undertakes and convents with the company as follows:

3.1 The Consultant shall comply with all applicable laws, rules and regulations
relating to or affecting the performance of the services that may be rendered by
the Consultant from time to time.
3.2 The Consultant shall not, during the currency of this agreement, enter into any
other contract or engagement, which in the opinion of the company is against
the interests of the company. The company’s decision with regards to what is
against the interests of the company shall be conclusive and binding on the
Consultant.
3.3 The consultant shall work purely in consultancy capacity and shall not be working
as an employee of the company for any purpose whatsoever.

4. CONSULTANCY CHARGES AND REIMBURSEMENT

4.1 Under this agreement, and as full consideration for the professional services, the
company shall:
 a) Pay Rs.23,000/- (Rupees Twenty Three Thousand only) subject to deduction
of Income Tax at source & statutory deduction as applicable (for 6 days a
week as per normal office hours of Electrosteel Castings Limited).

4.2 Apart from the above the consultant shall not be entitled to any other
sum/benefits except such charges as may be incurred by him and/ or as be
essentially needed for the sake of performance of his consultancy assignment.

4.3 The consultant shall raise his bill towards service charges including service tax
and conveyance charges if any to the company as also submit his bills for
reimbursement of expenses by the company as stated above or as may be
mutually agreed at any time hereafter.

5. Express Restrictions:

5.1 The Consultant shall not, without prior written consent of the company, make an
offer, enter into any contract on behalf of the company, engage the services of
third parties or delegate the whole or part of the services to be provided herein
to any third party.

5.2 The Consultant shall not accept or solicit payment in kind or in cash on behalf of
the company.

6. Confidential and secret information:

The Consultant acknowledges that in certain areas, the company and its affiliates have secret or
confidential information and that he may receive and have access to business trade secrets and
confidential business information of the Company and its affiliates. The Consultant agrees that
during the term of his agreement, or modification, renewal or extension thereof, and after the
termination of his agreement, Consultant shall not reveal these to anyone at any time.

7. Term:

7.1 The company shall retain the Consultant’s services and the Consultant agrees to
serve in the capacity set forth above for a period of 24 months commencing on,
1st June, 2023.

If this agreement is not renewed before 31st December, 2023 it shall

automatically stand terminated.

7.2 That, it is clearly understood by the parties that the appointment of the
consultant by these presents is purely contractual in terms of this agreement
and both parties will have no other rights or obligations whatsoever against
each other.
8. Termination:

8.1 The company may terminate this agreement immediately in the event the
Consultant shall at any time in the opinion of the company fails to perform any
obligation under this agreement.

8.2 In the event of any such termination, company shall have no further obligation
to make payment to the Consultant hereunder except for the services rendered
prior to the effective date of termination for which the Consultant, as of that
date, has not been paid.

8.3 The Consultant will be liable to bear any taxes or other liabilities that may accrue
from this agreement and the company will in no way be liable for such liabilities
of the Consultant.

8.4 In token of both the parties agreeing of the above terms and conditions, these
parties hereunder append their signatures in presence of witnesses.

8.5 That, either of the parties will be entitled to terminate this agreement before
expiry by giving one month advance notice to the other party or payment of one
month consideration amount in lieu thereof.

By: By:

ELECTROSTEEL CASTINGS LIMITED Mr. Subrata Sarkar

S/o Late B.P. Sarkar
Village - Patul
P.O. - Ilahipur
Dist. Hooghly
Pin code: 712706
Mobile no. 9732236053