Printed By: Administrator

Printed at: 20-01-2024 15:17:57

Sanction Letter

Ref No: AVSIKR0124-0002172 Date: 20 Jan 2024

To,

Abhimanyu Saraswat
Villa 24, Shubh Villa
Narayan Vihar, Bhankrota, Jaipur

Dear Sir/Madam,

With reference to your application, wide application no. AVSIKR0124-0002172 for the loan and the
subsequent discussions, we have pleasure in sanctioning credit facility to you subject to the following
terms and conditions as mentioned below:

Sr.
Particulars Description
No.

Nature of
1 Auto Loan
Facility

Purpose of
2 Closing existing loans or CC outstanding
the Facility

Sanction
3 ₹ 1,60,000.00 (INR One Lakh, Sixty Thousand only.)
Amount

Name: Abhimanyu Saraswat

4 Applicant Address: Villa 24, Shubh Villa
Narayan Vihar, Bhankrota, Jaipur

5 Co-Applicant

Rate of
6 50.75% Per Annum (Floating)
Interest

Installment
7 Payment
Note: Broken period Interest will be taken separately
Frequency

Tenure of
8 12 Months
Loan

9 Moratorium Not Applicable

10 Advance EMI Yes

No. of
11 2 Installment
Advance EMI

12 EMI Amount ₹20100

Processing
13 ₹3600
Fees

Disbursement
14 In 2 Tranches
of Loan

Payment Type Beneficiary Type Beneficiary Name Beneficiary Amount

Disbursement
15 Deferral Payment Applicant Abhimanyu Saraswat ₹27000
in Favour
Advance Payment Applicant Abhimanyu Saraswat ₹128817

Security
16 Details Particulars Value

Manufacture Name Ford

Make 2023

Model Ecosport

Chassis No. 1231231

Engine No. 12321312

Registration No.

The Borrower shall furnish 3 cheques (1 cheque amounting to 50% of Facility amount and 2 cheques
Security
17 amounting to 25% of the Facility amount) of duly signed undated cheques in favour of the MDFC Financiers
Cheques
Private Limited drawn on any bank.

Repayment
18 E-NACH
Mode

Post Dated 2 Post Dated Cheques of duly signed in favour of the MDFC Financiers Private Limited drawn on any bank
19
Cheques towards the installment amount.

The Borrower shall prior to availing any disbursement under the Facility, provide to the MDFC Financiers
Private Limited, a mandate setting out National Automated Clearing House (NACH) instructions issued in
favour of MDFC Financiers Private Limited, in a form and manner agreeable to the MDFC Financiers Private
Limited such that the mandate will provide for:
Submission
20 of NACH a. Payments to be made in favour of the MDFC Financiers Private Limited covering the interest and
Mandate principal amounts due in relation to the Facility;
b. The debit frequency specified as "As & when presented";
c. Debit type specified as “Maximum” amount;
d. Period of mandate specified as "Until Cancelled".

Particulars Value

File Charges ₹3600

Stamping/Franking ₹780

Valuation Charges ₹700

22 Loan Charges PDC Security Amount ₹1000

Third Party Insurance Charges ₹1500

SOA Charge ₹1000

Advance EMI ₹40200

Broken Period Interest ₹6402

Particulars Value

New Insurance Premium

Bouncing Charges ₹1000

SOA Charge ₹1000

Foreclosure Statement Charge ₹500

Amortization Schedule ₹500

Penal NOC for loan closure ₹1000

23
Charges NOC for Others ₹1000

Loan cancellation charges ₹200

Cash collection Charges ₹200

Charges for Missed due date ₹500

Legal charge ₹1000

Charges for Prepayment 8% of Outstanding Principal

Seizing Charge

Service Particulars Value

24
Charges Interest Certificate ₹500

Prepayment Prepayment will block for 12 months from loan disbursement date.
25
 Interest Post 12 Months, 8% of the principal outstanding for entire tenure of Loan.

Pre-
26 Disbursement All original documents to be self-attested by Applicant
Conditions

Borrower will submit renewal insurance copy of asset/collateral pledged as security during the
currency of the loan.
Borrower Borrower and personal guarantor(s) will be submitted any other document required by the MDFC
27 Financiers during the currency of the loan.
Covenants
Borrower shall utilize fund of this facility only for purpose of loan,and will submit concern documents of
fund utilization.

Special NOC of Borrower/Co-Borrower/Guarantor’s all running loans will be on hold until the said loan not fully
28 repaid along with penal charges.
Condition

The Facility Documents will comprise of:

a. this Sanction Letter;

b. Loan Agreement;
Facility
29 c. Demand Promissory Note;
Documents
d. Letter of Continuity;
e. the Personal Guarantee (if applicable);
f. Any other document that may be identified by the MDFC Financiers.

Standard Conditions :

1. The borrower unconditionally agrees, acknowledges and undertakes that the MDFC Financiers has an
unconditional right to cancel the facilities, whether in part or in full, at any time during the currency
of the facilities, without any prior intimation of such cancellation to the Borrower.
2. Interest rate, penal charges and service charges on the credit facilities are subject to change by
MDFC Financiers from time to time.
3. MDFC Financiers will have rights to inspect asset/collateral pledged as security from time to time.
4. The aforesaid facility/loan is subject to the main term and conditions (subject to change as per RBI
directives/MDFC Financiers policies from time to time) that are contained in Loan Agreement, which
the Borrower shall execute in favour of MDFC Financiers.
5. MDFC Financiers reserves the right to alter / cancel and or/modify loan sanctioned and / or any other
terms and conditions as it may deem fit absolutely at its discretion without notice and without
assigning any reason thereof.
6. Any Default, Fraud, Legal incompetence during the currency of the facility, Non-Compliance of
agreed terms and conditions, Non-submission of required papers, over dues in loan, any other
irregularities by Borrower will enable MDFC Financiers to recall the Facility.
7. The validity of sanction is seven (7) days from the date of sanction to accept the same by Borrower.

We here by request you to sign the attached duplicate copy of sanction letter as your acceptance of the
terms and conditions of the above sanction loan and return it to us.

Thank you for your decision to avail loan facility from us. We look forward to your acceptance of this
sheet to expedite the conclusion of this transaction and the disbursement hereunder.

Thanks & Regards,

For MDFC Financiers Pvt Ltd

Authorized Signatory
ACKNOWLEDGEMENT, APPROVAL AND ACCEPTANCE

We hereby acknowledge, approve and accept the terms and conditions detailed in this letter and agree,
undertake and confirm to comply with the aforesaid terms and conditions in connection with the facility.

Approved and accepted by:

Abhimanyu Saraswat
Applicant