Indemnity Bond

THIS Indemnity bond is executed this 29th day of March 2022 at

Pune by Mr.Ravindra Laxman Ghadge, Aged 38 Years, R/at -
Vaishnav Sadan, Munjoba Wasahat, Chinchwade nagar,
Chinchwad, Pune 411033 hereinafter referred to as
“Indemnifier” which expression shall unless repugnant to the
context or meaning thereof include its administrators,
successors, representatives and assigns in favour of M/s.
Premium Transmission Pvt. Ltd., a Pvt. Ltd. company
incorporated under the Companies Act, 1956 and
having its Registered Office situated at Premium House, Mumbai-
Pune Road, Chinchwad, Pune-411019 hereinafter referred to as
“Indemnified” which expression shall unless repugnant to the
context or meaning thereof include its administrators,
successors, representatives and assigns.
1. WHEREAS at present Indemnifier has salary account in
bank and is working as JMC with Premium
Transmission Private Limited-the Indemnified having its
office and manufacturing unit situated at Old Mumbai-Pune
Road, Chinchwad, Pune, 411019 (‘the Company’)

2. AND WHEREAS Indemnifier is willing to change salary

account voluntarily to Pune People’s Co-operative bank Ltd
Chinchwad from existing
(Bank name
and branch name), basis which Indemnifier has already
opened/will be opening his salary account in Pune People’s
Co-operative Bank, having branch at Shop No.1 Plot No.31,
Shanti Chembers Chaphekar Chowk Chinchwad
411033Pune on his own accord.

3. AND WHEREAS after opening the Salary Account,

Indemnifier undertakes to provide the Salary Account
details to the “Indemnified”-Company.

4. AND WHEREAS Indemnifier has authorized the Company to

deposit/credit the monthly salary into the newly opened
above mentioned Salary Account till the separation by way
of termination/Resignation/Retirement (as the case may be)
from the Indemnified- “Company’.

5. AND WHEREAS in case Indemnifier obtains any loan/credit

facilities from the said bank, then Indemnifier takes full
responsibility to repay the entire loan/credit facilities
amount on my own. The “Indemnified”-Company shall not
be held in any liable for repaying the loan amount/availed
credit
 facilities or will not deduct any EMI through my salary
account unless there is order from the competent authority.

6. AND WHEREAS in case Indemnifier desires to change the

salary bank account to another bank, then Indemnifier shall
obtain in advance “NO OBJECTION CERTIFICATE” from
the respective bank and submit it to the Indemnified-
Company. In case inadvertently the Indemnified on request
from Indemnifier changes the Bank account without
obtaining NOC, the Indemnifier will Indemnify the
Indemnified against any losses or claims both direct and
indirect and should not in any way be made responsible for
any losses/ claims, if any.

7. Indemnifier shall not hold “Indemnified”-Company

responsible for the transactions in the aforementioned
salary account and/or for any issues with the Bank.

8. AND WHEREAS the Indemnifier has fully understood the

implications of afore-mentioned voluntary transfer of salary
account

The Indemnifier hereby irrevocably agrees to indemnify the

Indemnified under the above referred circumstances at all time.

INDEMNIFIER-
Ravindra Laxman Ghadge
Emp.Code
Junior Management Cadre
Witnesses
1.

2.