PERFORMANCE BANK GUARANTEE

M/s. Jindal India limited

NH-6, Village-Jangalpur,
PO Argori, GP Andul,
Distt.Howrah-711302, West Bengal.D

BANK GUARANTEE NO. XXXXX

We the DCB Bank Ltd., A-Set Building, First Floor, Plot No.7/50, Desh Bandhu Gupta Road,
Karol Bagh , New Delhi - 110005 understand that you have placed a Purchase Order No.
Contt.No.JIL-G14/ PR-J/19-20/001 DT.09.01.2020 on M/s Mas Rollpro Technologies Pvt.Ltd.
(hereinafter referred to as "the Applicant") having its registered office at B-503, Amalfi, Raheja
Gardens, LBS Marg, Thane 400604 for Design, Engineering, Manufacturing, Supply and Supervision
of Erection & Commissioning of CGL#4 (Strip Thickness: 0.15-0.63mm. Strip Width: 700-1000
mm. and under the terms of the said Purchase Order, you are to release final payment to the
Applicant a sum of Rs.71,50,000/-(Rupees Seventy One Lakh Fifty Thousand only) being 10% of
the Purchase Order Value i.e. 10% of Rs.7,15,00,000/- (Rupees Seven Crore Fifteen Lakh only) as
stipulated in the said amount of Rs.71,50,000/- (Rupees Seventy One Lakh Fifty Thousand only)
for Warranty Period of 14 months from the date of release of final payment.

In consideration of the receipt by the Applicant of the amount specified in the Purchase Order,
we DCB Bank Ltd. A-Set Building, First Floor, Plot No.7/50, Desh Bandhu Gupta Road,
Karol Bagh, New Delhi - 110005 do hereby give you guarantee and undertake to pay you any
amount or amounts not exceeding Rs.71,50,000/- (Rupees Seventy One Lakh Fifty Thousand
only).

We DCB Bank Ltd., do hereby agree and undertake that, if in your opinion, the Applicant has
failed in performing its Contractual obligations during the warranty period under the said
Purchase Order, then, we shall on demand and without contest or protest or demur or proof or
condition and without reference or recourse to the Applicant immediately pay to you in any
manner in which you may direct the said amount or such portion thereof as may be demanded
by you not exceeding the sum of Rs.71,50,000/- (Rupees Seventy One Lakh Fifty Thousand only).
Any such demand made by you on us shall be final and conclusive as regards the amount due
and payable by the Bank. Payment pursuant to this guarantee may be demanded by you and
will be met by us without any question as to whether occasion or ground has arisen for such
demand and your demand in this regard shall be final.

We, DCB Bank Ltd. further agree that, you shall have the fullest liberty without our consent and
without affecting in any manner our obligations hereunder to vary any of the terms and
conditions of the said Purchase Order, to extend the time of delivery/ completion or to
postpone for any time and from time to time, any of the powers exercisable by you against the
Applicant and to forbear or enforce any of the powers relating to the said Purchase Order and
we shall not be relieved from our obligations by reason of such variation or extension or
forbearance or enforcement or any other act or omission on your part or any indulgence by you
to the Applicant or by any such matter or thing whatsoever which under the law relating to the
sureties would, but for this provision, have the effect of so relieving us.

We, DCB Bank Ltd. agree that, the amount hereby guaranteed shall be due and payable to you
on our being served, during banking hours, with a notice requiring payment of the amount.

We, DCB Bank Ltd., further state that claims under this Guarantee can be made effective and
shall take effect from the date of release of retention money to the Applicant by you under the
said Purchase Order.

We, DCB Bank Ltd., undertake not to revoke this Guarantee during its currency except with your
previous consent in writing. We further undertake to keep the Guarantee renewed, value
enhanced/marked up from time to time at the request of the Applicant.

Notwithstanding anything stated herein above the liability of the Bank under this Guarantee is
restricted to Rs.71,50,000/- (Rupees Seventy One Lakh Fifty Thousand only). Provided however,
this Guarantee can be enforced by you any number of times as long as the aggregate liability of
the Bank on account of such claims or demands made by you does not exceed the aforesaid
amount of Rs.71,50,000/- (Rupees Seventy One Lakh Fifty Thousand only).

The Guarantee herein contained shall not be determined or affected or suspended by the
liquidation or winding up or dissolution or changes of constitution or insolvency of the said
Applicant but shall in all respects and for all purposes be binding and operative until payment of
all money due or liabilities under the said Contract/Purchase Order are fulfilled.

This Guarantee shall remain in full force till 15.08.2022. Unless a demand or claim is made on us
in writing within 90 days from the aforesaid date 15.11.2022., all your rights under this
Guarantee shall be forfeited and we shall be released and discharged from all liabilities
hereunder.

Notwithstanding anything to the contrary contained herein –

i. Our liability under this Guarantee shall not exceed Rs.71,50,000/- (Rupees
seventy one lakhs fifty thousand only).
ii. This Guarantee shall be valid up to 15.11.2022 (Expiry Date).
iii. The beneficiary’s right as well the Bank’s liability under this Guarantee shall
stand extinguished unless a written claim or demand is made under this Guarantee on or
before completion of one year from expiry date i.e. 14.11.2023.

All terms not specifically defined in this bank guarantee shall have the same meaning as under
the said Purchase Order.

This guarantee is non-transferable.

Place: Delhi For DCB Bank Ltd.

Date: 01.07.2021