DINESH MURUGESAN

2000-04-01

FMSXXXXX6P

xxxxxxxx4472
, D NO 50/17

EDAPPADY

SALEM

637107 TAMIL NADU

637****673

din***************@gmail.com
 Welcome Letter

Date:

Dear:

Thanks for showing interest in PayWithRing!

We are happy to inform you that on the basis of your application details provided by you, your application for the PayWithRing Limit
(Transaction Credit) has been approved by , an RBI
registered NBFC.

Please find the limit details for your reference:

User Reference Number

Line Reference Number

Limit Sanction Date

Loan Start Date

Loan End Date (Due Date)

Limit Amount

Interest Rate(per annum)

Kindly refer the ‘Key Fact Statement’ section for details.

The aforementioned representation of the ‘Loan Start Date’ and ‘Loan End Date’ shall remain accurate if the customer commences
availing disbursement/drawdown on the very ‘Limit Sanction Date’ itself. In the event that the customer opts to avail disburse-
ment/drawdown at a subsequent date, the ‘Loan Start Date’ and ‘Loan End Date’ are subject to modification accordingly, with the
‘Loan Start Date’ being established as the date when the first drawdown from the sanctioned limit is executed by the customer. In
such cases, the updated ‘Loan Start Date’ and ‘Loan End Date’ shall be communicated to the Borrower through the Platform. Refer
to the Most Important Terms and Conditions (MITC) in this agreement for more details.

The Limit Amount is subject to change based on your timely bill repayment.

We value your relationship with us and assure you of our best service always.

Best Regards

This Customer Agreement and all the documents forming a part thereof are executed hereby and shall deem to come into effect from
the date of disbursement of the Loan to the Borrower.

Registered Office:

Email: [email protected] | 022 41434302 | 020 68135496 | https://paywithring.com/

 Most Important Terms and Conditions (MITC)
Please read carefully and ACCEPT to continue

I/We:
I hereby give my consent and specifically confirm that the online application form submitted by me to the Site shall be valid, effective and legally enforce-
able against me though it is not electronically signed by me. For the purpose hereof, a document shall be deemed to be “Electronically Signed” if it has been
encrypted / authenticated by using an electronic method or procedure in accordance with the provisions of the Information Technology Act, 2000 or in any
other manner / method / procedure / technique as is recognized / envisaged as a valid method of encryption / authentication under the provisions of the
Information Technology Act, 2000.

I/We agree and confirm:

GENERAL TERMS AND CONDITIONS OF FACILITY

These General Terms and Conditions (“GC”) shall govern the general terms and conditions applicable to the Facility (defined below) to be provided to
Borrower (defined below) by the Lender, a company as defined in the Companies Act, 2013, (hereinafter referred to as the “Lender”, which expression
shall, unless repugnant to the subject, context or meaning thereof, be deemed to include its executors, its successors-in-interest and any assigns and/
or any finance partner(s) with whom Lender has entered into a co-lending agreement or an arrangement where the loans are reflected in Lender’s own
book). This credit facility has been facilitated by our loan sourcing agent

1. DEFINITIONS
01. The terms and expressions contained in this GC and the Loan Application Form are defined as under:
a. “Available Facility Amount” means at any point of time the undrawn amount of the Facility, including any amount of the Facility which
becomes available pursuant to any repayment or prepayment of all or part of any previous Drawdown;
b. “Borrower” means and refers jointly and severally to the applicant(s) who has / have been sanctioned/granted the Facility by the Lender
(as defined hereunder) based on the duly filled in Loan Application Form submitted by such applicant(s) to the Lender for availing of the
Facility means and refers jointly and severally to the applicant(s) who has / have been sanctioned/granted the Facility by the Lender
based on the duly filled in Loan Application Form submitted by such applicant(s) to the Lender for availing of the Facility;
c. “Platform” shall refer to all website (including all associated site links) and/or mobile based application/platform namely “Ring” and/or
such other website and/or mobile based application/platform, used by the borrower to apply for limit/loan;
d. “Borrower’s Dues” means all sums payable by the Borrower to Lender, including outstanding Facility, interest, all other charges, costs
and expenses;
e. “Drawdown” shall mean each drawdown of the Facility within the Availability Period and as per the terms of the Financing Documents
(as defined hereunder), including drawdown of any amount which becomes available against the Facility, pursuant to prepayment/
repayment of any earlier Drawdown;
f. “Bill Cycle” means the time duration between two Billing Date(s);
g. “Due Date” in respect of any payment means the date on which any amount is due from the Borrower to Lender and such date as
changed by the Lender from time to time upon intimation to the Borrower through written means.
h. “Facility” (also referred to as ‘Total Limit’ or ‘Available limit’ on Platform), means the amount sanctioned to the Borrower as per the
Agreement or as displayed on the website or its mobile application, which will be or has been made available, to the extent the same is
not cancelled, reduced or transferred by the Lender as per the terms of Financing Documents;
i. “Financing Documents” means these GC, the Loan Application, the Sanction Letter (if issued), including the annexures hereto and any
documents executed by the Borrower or as required by Lender, as amended from time to time;
j. “Loan Application” means the application in the prescribed form as submitted from time to time by the Borrower to Lender for seeking
financing;
k. “Material Adverse Effect” means any event which in Lender’s opinion would have an adverse effect on (i) Borrower’s ability to pay the
Borrower’s Dues or (ii) recoverability of the Borrower’s Dues;
l. “Purpose” means the utilization of each Drawdown as mentioned in the Agreement or as displayed on the website., i.e. on https://paywi-
thring.com or its mobile application, including for purchase of any product from Vendors;
m. “Product” shall mean, if applicable, a product purchased by the Borrower from any Vendor and in line with the Purpose;
n. “Vendor” shall mean the vendors, including e-commerce website as approved by Lender from time to time in respect of which financing
would be provided by Lender for purchase of any Products.
02. In this Agreement, (a) the singular includes the plural (and vice versa) and (b) reference to a gender shall include references to the female,
male and neutral genders.

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2. DISBURSEMENT
01. Subject to the provisions of the Financing Documents, the Borrower may at any time during the Availability Period, request the Lender for
disbursement the Facility (or any part thereof) to the extent of the Available Facility Amount. The Lender shall at its sole and absolute discre-
tion allow or reject such Drawdown request for the Facility. Notwithstanding anything contained in this GC, Lender shall have the absolute
right to cancel or refuse any further Drawdowns from the Facility at its sole and absolute discretion as it may deem fit, including on account
of any change in credit evaluation of the Borrower.
02. The disbursement of any Drawdown directly to any vendor / seller/ healthcare institution or its authorized person for any Purpose shall be
treated as having been disbursed to the Borrower.
03. The Borrower shall pay non-refundable processing charges as stated in the Agreement or as displayed on the website., i.e. on https://paywi-
thring.com or its mobile application, along with tax thereof, which may be added as a deemed disbursement to the first Drawdown and the
Borrower will accordingly be liable for entire Drawdown.
04. The total limit sanctioned to the Borrower shall be as specified on the Platform. The Lender, at its sole discretion, reserves the right to
increase or decrease the Total Limit available through the Platform from time to time. The change in the Total Limit shall be communicated to
the Borrower electronically through/over the Platform

3. PAYMENT/REPAYMENT AND INTEREST

01. The Borrower shall repay/pay the entire Facility in one or more instalments along with the interest thereon to the Lender in such manner
as agreed/specified by the Lender from time to time, on the respective Due Date. It is hereby clarified that in the event the Borrower has
availed the Facility in the nature of working capital loan, the same shall be payable on the Due Date in a single tranche by way of bullet
re-payment and the Borrower shall not be permitted to be carry forward or convert the outstanding amount into multiple instalments.
Subject to Clause 3.6, the Borrower agrees to pay to the Lender interest on the Facility or such part thereof as may be outstanding from
time to time at such interest rate, which has been indicated by Lender at the time of making the offer for the Facility. The Borrower will pay
interest (if applicable) on each Drawdown made by the Borrower of the Facility and all other amounts due as displayed on the website., i.e.
on https://paywithring.com or its mobile application, and the interest shall be compounded on an annual basis. The Borrower will be liable
for the entire Drawdown amount and shall pay the full amount for each Drawdown. However, in such cases, in the event the installment
is not paid on the Due Date, all overdue amounts shall accrue Overdue Penalty Charges which shall be computed from the respective due
dates for payments and the charges shall be compounded on an annual basis until payment of such dues, as prescribed in the ‘Key Fact
Statement’.
02. The Borrower acknowledges that in case of identified Purpose, Drawdown may be allowed on zero interest basis and in such cases the
return shall be made available to Lender by way of one-time non-refundable upfront discount provided by vendors/healthcare institutions
on selected Purposes as mutually agreed between Lender and vendor / its authorized representative.
03. The tenure of each Drawdown shall be as provided in the Agreement or as displayed on the website., i.e. on https://paywithring.com or its
mobile application.
04. Notwithstanding anything to the contrary in the Financing Documents, the Lender shall always reserve the right to revise the rate of inter-
est whether upwards or downwards, on all existing advances/financial assistance, if so required under any applicable law and other factors
impacting the liquidity in the economy. Any such change, as intimated by Lender to Borrower, will be final and binding on the Borrower and
such changes shall automatically form part of these GC. The rate of interest applicable to the Drawdown availed shall be as prevailing on
the date of disbursement and will be based upon the Lender ‘s evaluation of the creditworthiness of the Borrower, the risk profiling done
by the Lender, etc. The Lender shall review, and if necessary, revise the rate of interest at any time and during the tenure of the Drawdown
at its sole discretion on updating the same on its website., i.e. on https://paywithring.com. Any dispute, including that relating to the inter-
est computation or tenure, shall not entitle the Borrower to withhold payment demanded by the Lender and/or payment of any EMI.
05. In case of delayed payments, without prejudice to all other rights of Lenders, Lender shall be entitled to receive Overdue Penalty Charges
(as prescribed in these Financing Documents or as displayed on the website., i.e. on https://paywithring.com or its mobile appli- cation)
from the Borrower for the period of delay.
06. The Borrower may pre-pay any Drawdown prior to its scheduled tenure only with the prior approval of Lender and subject to such con- di-
tions and prepayment charges, as stipulated by Lender. The Borrower shall bear all interest, tax, duties, cess duties and other forms of taxes
whether applicable now or in the future, payable under any law at any time in respect of any payments made to Lender under the Financing
Documents. If these are incurred by the Lender, these shall be recoverable from the Borrower and will carry Overdue Penalty Charges (as
prescribed in the ‘Key Fact Statement’) from the date of payment till reimbursement.
07. Notwithstanding any terms and conditions to the contrary contained in the Financing Documents, the amounts repaid by the Borrower
shall be appropriated firstly towards principal amount; secondly towards interest, if any; thirdly towards Transaction Fee, if any; and lastly
towards Overdue Penalty Charges, if any.
08. Interest (if applicable), Overdue Interest Rate and all other charges shall accrue from day to day and shall be computed on the basis of 365

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 (Three Hundred Sixty-Five) days a year and the actual number of days elapsed.
09. All sums payable by the Borrower to Lender shall be paid without any deductions whatsoever. Credit/ discharge for payment will be given
only on realization of amounts due.
10. The parties hereby agree that any modifications to the interest rates and charges outlined in this agreement shall have prospective applica-
bility only. Such changes shall not be retroactively applied.
11. Interest accrues solely on an annual basis and is subject to annual compounding

4. MODE OF PAYMENT, REPAYMENT AND PREPAYMENT

01. The Borrower shall, as required by Lender from time to time, provide (i) postdated cheques (“PDCs”) or (ii) National Automated Clearing
House (Debit Clearing)/ any other electronic or other clearing mandate (collectively referred to as “NACH”) as notified by the Reserve Bank
of India (“RBI”) against Borrower’s bank account for payment of dues. Such PDCs/NACH shall be drawn from such bank and from such
location as agreed to by Lender. The Borrower shall honor all payments without fail on first presentation/ due dates. PDC/ NACH provided
by the Borrower may be utilized by Lender for realization of any Borrower’s Dues. The Borrower hereby unconditionally and irrevocably
authorizes Lender to take all actions required for such realization. The Borrower shall promptly (and in any event within seven (7) days)
replace the cheques and/or the NACH and/or other documents executed for payment of Borrower’s Dues as may be required by Lender
from time to time, at its sole discretion.
02. The Borrower shall, at all times maintain sufficient funds in his/her bank account/s for due payment of the Borrower’s Dues on respective
Due Dates. Borrower shall not close the bank account/s from which the cheques / NACH have been issued or cancel or issues instructions
to the bank or to Lender to stop or delay payment under the PDC / NACH and Lender is not bound to take notice of any such communica-
tion.
03. The Borrower agrees and acknowledges that the PDC/ NACH have been issued voluntarily in discharge of the Borrower’s Dues and not by
way of a security for any purpose whatsoever. The Borrower also acknowledges that dishonor of any PDC/ NACH is a criminal offence un-
der the Negotiable Instruments Act, 1881/The Payment and Settlements Act, 2007. The Borrower shall be liable to pay dishonour charges
for each PDC/ NACH dishonour (as prescribed in Agreement or as displayed on the website., i.e. on https://paywithring.com or its mobile
application).
04. Any dispute or difference of any nature whatsoever shall not entitle the Borrower to withhold or delay payment of any EMIs or other sum
and Lender shall be entitled to present the PDC/ NACH on the respective due dates.
05. Notwithstanding the issuance of cheques / NACH, the Borrower will be solely responsible to ensure timely payment of dues.

5. BORROWER’S COVENANTS, REPRESENTATION AND WARRANTIES

01. The Borrower shall:
a. Observe and perform all its obligations under the Financing Documents.
b. Immediately deliver to Lender all documents, including bank account statements as may be required by Lender from time to time. The
Borrower also authorizes Lender to communicate independently with (a) any bank where the Borrower maintains an account and to
seek details and statement in respect of such account from the bank and (b) with any employer of any Borrower/family members, any
other person related to the Borrower, as Lender may deem necessary, including for monitoring Borrower’s creditworthiness. The Lender
shall have the right to not return the Application, the photographs, information and documents submitted by the Borrower.
c. Immediately notify Lender of any litigations or legal proceedings against any Borrower.
d. Notify Lender of any Material Adverse Effect or Event of Default (as described hereunder).
e. Notify Lender in writing of all changes in the location/ address of office /residence /place of business or any change/resignation/termina-
tion / closure of employment/ profession /business.
f. Not leave India for employment or business or long term stay abroad without fully repaying the Facility then outstanding, together with
interest and other dues and charges.
g. Provide security, if any, as specified in Financing Documents or as may be required by Lender in case of any change in credit worthiness
of any Borrower (as determined by Lender).
h. Ensure deposit of salary and / or business proceeds in the account from which PDCs/ECS have been issued to Lender. The Borrower also
authorizes the Lender to submit the ESC on any date without prior intimation thereto in case the EMI bounces. The Borrower agrees
that non-receipt of any EMI alert shall not be a valid ground for non-payment of any EMI.
i. Comply at all times with applicable laws, including, Prevention of Money Laundering Act, 2002, as amended from time to time.
j. Utilise each Drawdown only for the Purpose.
k. The Borrower hereby creates a charge on the Product in favour of the Lender.
02. Each Borrower represents and warrants to Lender as under:
a. All the information provided by Borrower in the Loan Application and any other document, whether or not relevant for ascertaining
the credit worthiness of the Borrower, is true and correct and not misleading in any manner;

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 b. The Borrower is capable of and entitled under all applicable laws to execute and perform the Financing Documents and the transac-
tions thereunder;
c. The Borrower is above 18 (Eighteen) years of age and this GC is a legal, valid and binding obligation on him/her, enforceable against
him/ her in accordance with its terms;
d. The Borrower declares that he/ she is not prohibited by any law from availing this Facility;
e. No event has occurred which shall prejudicially affect the interest of Lender or affect the financial conditions of Borrower or affect his/
her liability to perform all or any of their obligations under the Financing Documents;
f. Borrower is not in default of payment of any taxes or Government dues;
g. The Borrower will do all acts, deeds and things, as required by Lender to give effect to the terms of this GC;
h. That there are no bankruptcy or insolvency proceedings against the Borrower.
03. The Borrower gives its consent to Lender to use/store all the information provided by the Borrower or otherwise procured by Lender in the
manner it deems fit including for the Purpose of this Facility or for its business and understands and agrees that Lender may disclose such
information to its contractors, agents and any other third parties.
04. In the event the Facility/Drawdown is for purchase of any Product, the Borrower also undertakes and covenants as below:
a. Borrower shall not be entitled to any increase in the Facility amount by reason of any increase in the purchase price of any Product.
However, in the event of any decrease in the purchase price, Lender may in its discretion reduce the principal amount of the sanctioned
Facility;
b. The Vendor shall be exclusively responsible for delivery of the Product and Lender shall not be liable for any delay in delivery or non-de-
livery of the Product and/or with respect to the quality, condition, fitness, suitability or otherwise whatsoever of the said Product;

6. EVENTS OF DEFAULT
01. The following acts/events, shall each constitute an “Event of Default” by the Borrower for the purposes of each Facility:
a. The Borrower fails to make payment of any Borrower’s Dues on Due Date;
b. Breach of any terms, covenants, representation, warranty, declaration or confirmation under the Financing Documents;
c. Any fraud or misrepresentation or concealment of material information by Borrower which could have affected decision of Lender to
grant any Facility;
d. Death, lunacy or any other permanent disability of the Borrower;
e. Borrower utilises the Drawdown for any purpose other than the Purpose;
f. Occurrence of any events, conditions or circumstances (including any change in law) which in the sole and absolute opinion of Lender
could have a Material Adverse Effect, including limitation of any proceedings or action for bankruptcy/liquidation/ insolvency of the
Borrower or attachment / restraint of any of its assets;
02. The decision of Lender as to whether or not an Event of Default has occurred shall be binding upon the Borrower.

7. CONSEQUENCES OF DEFAULT
01. Upon occurrence of any of the Events of Default and at any time thereafter, Lender shall have the right, but not the obligation to declare
all sums outstanding in respect of the Facility, whether due or not, immediately repayable and upon the Borrower failing to make the said
payments within 15 (fifteen) days thereof, Lender may at its sole discretion exercise any other right or remedy which may be available to
Lender under any applicable law, including seeking any injunctive relief or attachment against the Borrower or their assets.
02. The Borrower shall also be liable for payment of all legal and other costs and expenses resulting from the foregoing defaults or the exercise
of Lender remedies.
03. The Borrower will be sent reminders from time to time for settlement of any outstanding Facility, by post, fax, telephone, e-mail, SMS and/
or engaging third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the code of conduct on
debt collection.

8. DISCLOSURES
01. The Borrower acknowledges and authorizes Lender to disclose all information and data relating to Borrower, the Facility, Drawdowns,
default if any, committed by Borrower to such third parties/ agencies as Lender may deem appropriate and necessary to disclose and/or as
authorized by RBI, including TransUnion CIBIL Limited (“CIBIL”). The Borrower also acknowledges and authorizes such information to be
used, processed by Lender / third parties/ CIBIL / RBI as they may deem fit and in accordance with applicable laws. Further in Event of De-
fault, Lender and such agencies shall have an unqualified right to disclose or publish the name of the Borrower /or its directors/ partners/
co-applicants, as applicable, as ‘defaulters’ in such manner and through such medium as Lender / CIBIL/ RBI/ other authorized agency in
their absolute discretion may think fit, including in newspapers, magazines and social media.
02. The Borrower shall not hold Lender responsible for sharing and/or disclosing the information now or in future and also for any conse-

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 quences suffered by the Borrower and/or other by reason thereof. The provisions of this clause 8 shall survive termination of the GC and
the repayment of the Borrower’s Dues.
03. You understand that the Ring platform app and/or website has been appointed by LENDER to collect, authenticate, track your location,
verify and confirm the User Data, documents and details as may be required by LENDER to sanction the Loan. LENDER authorizes the
Company to collect and store the User Data through the mobile application form available on the Platform.
04. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior
written agreements, understandings and negotiations, both written and oral, between the Parties with respect to the subject matter of this
Agreement.

9. EMI CONVERSION
At the sole discretion of the Lender, the Borrower may be provided an option to convert the Billed Amount (or any portion thereof) into equal
monthly instalment (EMI). The maximum tenure of such EMI and the applicable interest rate and/or any other charges for the EMI conversion
shall be communicated to the Borrower through the Platform. Such details will be made available to the Borrower at the time of opting for EMI
conversion on the Platform. For the conversion of the Billed Amount (or any portion thereof) into EMI, the Borrower must opt for the same on
the Platform. In some case, the Borrower may also be given option to convert into EMI at the time of the making the transaction through the
Platform.

10. MISCELLANEOUS
01. The entries made in records of Lender shall be conclusive evidence of existence and of the amount Borrower’s Dues and any statement of
dues furnished by Lender shall be accepted by and be binding on the Borrower.
02. Borrower’s liability for repayment of the Borrower’s Dues shall, in case where more than one Borrower have jointly applied for any Facility,
be joint and several.
03. Borrower shall execute all documents and amendments and shall co-operate with Lender as required by Lender (i) to comply with any RBI
guidelines / directives or (ii) for giving Lender full benefit of rights under the Financing Documents. Without prejudice to the aforesaid the
Borrower hereby irrevocably consents that on its failure to do so, such changes shall be deemed to be incorporated in the Financing Docu-
ments and shall be binding on the Borrower.
04. Notwithstanding any suspension or termination of any Facility, all right and remedies of Lender as per Financing Documents shall continue
to survive until the receipt by Lender of the Borrower’s Dues in full.
05. The Borrower acknowledges that the rate of interest, penal charges, service charges and other charges payable and or agreed to be paid by
the Borrower under Financing Documents are reasonable and acceptable to him/ her.
06. The Borrower expressly recognizes and accepts that Lender shall without prejudice to its rights to perform such activities itself or through
its office employees be entitled and has full power and authority so to appoint one or more third parties (hereinafter referred to as “Service
Providers”) as Lender may select and to delegate to such party all or any of its functions, rights and power under Financing Documents
relating to the sourcing, identity and verification of information pertaining to the Borrower, administration, monitoring of the Facility and
to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices
contacting Borrower, receiving Cash/Cheques/Drafts/ Mandates from the Borrower in favour of Lender.
07. The Borrower acknowledges that the financing transaction hereunder gives rise to a relationship of debtor and creditor as between him /
her and Lender and not in respect of any service rendered/to be rendered by Lender. Accordingly, the provisions of the Consumer Protec-
tion Act, 1986 shall not apply to the transaction hereunder.
08. The Borrower hereby authorizes Lender to verify all information and documents including, income proof documents, residence documents,
address proof documents, identity documents and other such documents containing personal and financial information as are submitted by
them for obtaining any Facility and that they also consent to subsequent retention of the same by Lender.
09. The Borrower acknowledges and authorizes Lender to procure Borrower’s PAN No./copy of Pan Card, other identity proof and Bank
Account details, from time to time and to also generate / obtain CIBIL, Experian, Hunter reports and such other reports as and when
Lender may deem fit. The Borrower also hereby gives consent and authorizes Lender to undertake its KYC verification by Aadhar e-KYC or
otherwise and undertake all such actions as may be required on its behalf or otherwise to duly complete the process of such verification
including by way of Aadhar e-KYC and share such information with any authority and store such information in a manner it deems fit.
10. In the event of any disagreement or dispute between the Lender and the Borrower regarding the materiality of any matter including of any
event occurrence, circumstance, change, fact information, document, authorization, proceeding, act, omission, claims, breach, default or
otherwise, the opinion of Lender as to the materiality of any of the foregoing shall be final and binding on the Borrower.
11. The Borrower and Lender may mutually agree on grant of a fresh facility on the terms and conditions of the GC and by execution of such
further letter/undertaking by the Borrower as may be required by Lender.
12. If the Borrower voluntarily avails any services along with the Facility from any of the third parties whose products are being sold by the
Lender as a bundled product including but not limited to life insurance, health insurance, general insurance plans, consumer durable

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 insurance, extended warranty, or any other offers/products/services offered by third parties, then the Borrower hereby acknowledges that
Lender shall not be held responsible for non-provision of services by such third parties.

11. SEVERABILITY
The Borrower acknowledges that each of his/her obligations under these Financing Documents is independent and severable from the rest.

12. GOVERNING LAW AND JURISDICTION

01. All Facility and the Financing Documents shall be governed by and construed in accordance with the laws of India.
02. All disputes, differences and / or claims arising out of these presents or as to the construction, meaning or effect hereof or as to the
right and liabilities of the parties under the Financing Documents shall be settled by arbitration in accordance with the provision of the
Arbitration and Conciliation Act, 1996 or any statutory amendments thereof or any statute enacted for replacement therefore and shall be
referred to the sole Arbitration of a person to be appointed by LENDER. The place of arbitration shall be Mumbai. The awards including
interim awards of the arbitration shall be final and binding on all parties concerned. The arbitrator may pass the award without stating any
reasons in such award.
03. Further, the present clause shall survive the termination of Financing Documents. The Courts at Mumbai, India shall have exclusive juris-
diction (subject to the arbitration proceedings which are to be also conducted in Mumbai, India) over any or all disputes arising out of the
Financing Documents.
04. The parties may choose to conduct such Arbitration proceeding via online mode.

13. NOTICES
Any notice to be given to the Borrower in respect of Financing Documents shall be deemed to have been validly given if served on the Borrower
or sent by registered post to or left at the address of the Borrower existing or last known business or private address. Any such notice sent by
registered post shall be deemed to have been received by the Borrower within 48 hours from the time of its posting. Any notice to Lender shall
be deemed to have been valid only if received by Lender at its above stated address

14. ASSIGNMENT
01. The Borrower shall not be entitled to jointly or severally transfer or assign all or any of their right or obligation or duties under the Fi-
nancing Documents to any person directly or indirectly or create any third-party interest in favour of any person without the prior written
consent of Lender.
02. Lender shall be entitled to sell, transfer, assign or securitise in any manner whatsoever (in whole or in part and including through grant
of participation rights) all or any of its benefits, right, obligation, duties and / or liabilities under Financing Documents, without the prior
written consent of, or intimation to the Borrower in such manner and such terms as Lender may decide. In the event of such transfer,
assignment or securitization, the Borrower shall perform and be liable to perform their obligation under the Financing Documents to such
assignee or transferor. In such event, the Borrower shall substitute the remaining PDCs/ECS in favour of the transferee/ assignee if called
upon to do so by Lender.

15. INDEMNITY
The Borrower hereby indemnifies, defends and holds Lender, its employees, representatives and consultants harmless from time to time and at
all times against any liability, claim, loss, judgment, damage, cost or expense (including, without limitation, reasonable attorney’s fees and
expenses) as a result of or arising out of any failure by the Borrower to observe or perform any of the terms and conditions and obligations con-
tained in the Financing Documents or Event of Default or the exercise of any of the rights by Lender under the Financing Documents, including
for any enforcement of security or recovery of Borrower’s Dues

16. Acceptance
I / We am / are aware that Lender shall agree to become a party to this GC only after satisfying itself with regard to all conditions and details
filled by me / us in the GC and other Financing Documents in consonance with Lender policy. I / We agree that this GC shall be concluded and
become legally binding on the date when the authorized officer of Lender signing this at Mumbai or on the date of first disbursement, whichever
is earlier. By clicking “I accept”, the Borrower electronically signs these GC and agrees to be legally bound by its terms. The Borrower’s accep-
tance of these GC shall constitute: (i) the Borrower’s agreement to irrevocably accept and to be unconditionally bound by all the terms and
conditions set out in these GC; and (ii) the Borrower’s acknowledgement and confirmation that these GC (along with the Financing Documents)
have been duly read and fully understood by the Borrower.

I hereby affirm my understanding of the English language and the entirety of the facts, terms, and conditions outlined above.

I / We agree that I am not a Politically Exposed Person (PEP) (“Politically Exposed Persons” (PEPs) are individuals who are or have been entrust-
ed with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government
or judicial or military officers, senior executives of state-owned corporations and important political party officials) and further undertakes to
immediately intimate the lenders’ in the event that he/she and/or any of their family members /close relatives becomes a PEP. In this situation,
the lenders’ will seek senior management approval to sustain the business relationship. The account will then undergo Customer Due Diligence
procedures, including ongoing enhanced monitoring, as required for PEP category customers.

Registered Office:

Email: [email protected] | 022 41434302 | 020 68135496 | https://paywithring.com/

 KEY FACT STATEMENT

Date: 28-Oct-23

Name of Lender 1: SI Creva Capital Services Private Limited

Applicant Name: DINESH MURUGESAN

Line reference number: LINE961886846954NQRF

6/30, Siluvampalayam nedukulam

SALEM, 637107

TAMIL NADU

A) Details of Fees & Charges

Limit Sanction Date 28-Oct-23

Limit Amount (in Rs.) 3500

Annualized Fixed Rate of Interest (% per annum) 24%

Interest Amount 69.04

Loan Start Date 28-Oct-23

Loan End Date 26-Nov-23

Transaction Fee (in %) 0%

Transaction Fee (in Rs.) 0

Net Disbursed Amount (in Rs.) 3500

Total Repayment Amount(in Rs.) 3569.04

Annual Percentage Rate (% per annum) 24%

Details about Contingent Charges

Rate of annualized penal charges in case of delayed payments (if any) Refer to Section C

Rate of annualized other charges (if any); (details to be provided) Refer to Section B

Other Disclosures

SI Creva Capital Services Private Limited or any other

Details of recovery agent authorized to approach the Borrower entity/personnel duly appointed by Lender in this regard

Name, designation, address and phone number of nodal grievance redressal officer designated
Refer to Section D and E
specifically to deal with FinTech/ digital lending related complaints/issues

Details of recovery mechanism Refer to Section F

**Loan Start Date and Loan End Date is subject to change based on your first transaction date

*The above Key Fact Statement is prepared under consideration that the entire limit will be withdrawn by the customer
between the ‘Loan Start Date’ and ‘Loan End Date’, hence the ‘Net Disbursed Amount’ is equal to ‘Pre-Approved Limit
Amount’. Meanwhile, the customer can choose to withdraw a lesser amount than the ‘Pre-Approved Limit Amount’ too.

The Limit Amount is subject to change based on your timely bill repayment.

B) Schedule of Pricing and charges

Note: The lender may decide to provide up to 100% waiver on 1 or more of the fees shown below, on a case-to-
case basis, to help borrowers in special situations like financial issues, medical emergencies, natural calamities,
etc. as part of the lender’s customer service initiatives. As and when any updates to the fees & charges are
introduced by the lender, the borrower shall be intimated about such changes by email or otherwise in the
manner prescribed for the same from time to time by lender. The borrower shall at all times ensure that his/her
latest mobile number and email ID is updated with the lender. The lender shall rely upon the mobile number and
email ID provided by borrower, and shall not be obliged to verify or make further inquiry into the validity of the
mobile number and email ID provided by borrower. The borrower shall in no circumstance dispute such reliance
by the lender.
Transaction Fees:
Transaction fee is the fee charged for every transaction. This fee can vary basis billing cycle, payment
behavior and internal risk scoring parameters and such changes, if any will be communicated to the
Borrower from time to time.

Details of Transaction Fees (table 1) -

Transaction Amount(in Rs.) Transaction Fees (in %)

Less than Rs. 50 0%

Between Rs.51 to Rs.100 0%

Between Rs.101 to Rs.200 0%

Between Rs.201 to Rs.500 0%

Between Rs.501 to Rs.1000 0%

Rs.1000 and above 0%

Important Notes

Transaction fee is charged on all transactions and is computed on the value of transaction. The
transaction fees will be added to your bill and need to be paid at the time of repayment. The transaction
fee is subject to change at the discretion of the lender.

The transaction fee is subject to change basis on the borrower’s payment behavior. In case there is a
delay in bill payment by the borrower, the transaction fee applicable on all future transactions done by
borrower, shall increase basis billing cycle, payment behavior and internal risk scoring parameters. The
additional increase in transaction fee %, if any, due to delay in bill payment by the Borrower, shall be
communicated to the Borrower through the Platform (as and when the same is applicable).

Transaction fee stated in Table 1 (Details of transaction fees) includes GST

Payment Gateway Charges:

The borrower can choose the most appropriate Payment Option available in the Payment Gateway and use
the same for online payment of Ring bill/outstanding dues/fees/other charges. The applicable payment
gateway charges, if any, shall be communicated to the borrower at the time of payment and will need to be
borne by borrower.

Interest:
The interest is payable on all transactions, including unpaid bills, from the date of transaction till the
billing due date, on a pro-rata basis. The ‘Interest’ is subject to change at the discretion of the lender. The
applicable rate of Interest shall be communicated to the Borrower through the Platform(as and when the
same is applicable).
C) Details of Contingent Charges

Overdue Penalty Charges:

1. One-Time Overdue Charges & Daily Penalty Charge will be applied if the bill repayment is done after the
scheduled due date.

2. Customers with overdue amounts less than Rs. 7000 will be charged a one-time overdue fee of Rs. 300 and
daily penalty charge of Rs. 50.

3. Customers with overdue amounts greater than or equal to Rs. 7000 will be charged a one-time overdue fee of
Rs. 750 and daily penalty charge as mentioned in the “Daily Penalty Charges” grid.

Daily Penalty Charges:

Principal Outstanding Amount Daily Penalty Charges APR For Daily Penalty Charges

₹7000-7999 ₹50 91%

₹8000-8999 ₹50 80%

₹9000-9999 ₹50 71%

₹10000-10999 ₹50 64%

₹11000-11999 ₹50 58%

₹12000-12999 ₹50 53%

₹13000-13999 ₹50 49%

₹14000-14999 ₹50 46%

₹15000-15999 ₹50 43%

₹16000-16999 ₹50 40%

₹17000-17999 ₹50 38%

₹18000-18999 ₹50 35%

₹19000 & above ₹50 34%

Important Notes

Subject to sub-point 2 below, One-Time Overdue Charges & Daily Penalty Charges will be applied if the bill
repayment is done after the scheduled due date or if otherwise applicable as per the terms of the Financing
Document (collectively referred to as “Overdue Penalty Charges”).
The total penal charges to be levied on borrower, per billing cycle, will be lower, of INR 2000, 100% of
principal outstanding, or the amount calculated as per the details provided in Annexure 2 above.
As and when any updates to the fees & charges are introduced by the Lenders, the borrower shall be
intimated about such changes by email or otherwise in the manner prescribed for the same from time to
time by Lenders. The borrower shall at all times ensure that his/her latest mobile number and email ID is
updated with the Lenders. The Lenders shall rely upon the mobile number and email ID provided by the
borrower, and shall not be obliged to verify or make further inquiry into the validity of the mobile number
and email ID provided by the borrower. The borrower shall in no circumstance dispute such reliance by the
Lenders.

Good and Services Tax ( GST ) :

All fees and charges are inclusive of GST, as applicable.

D) Grievance Redressal Mechanism – Level 1

022 41434302 / 020 68135496

The customer can get in touch with the customer service executive over call between 9:30 am to 6:30 pm, 7 days a
Call week & 365 days a year by dialing the above number.

If the customer is unable to connect due to temporary heavy call volumes. A callback shall be attempted, in most of
the cases, by the customer services team to the customer to resolve his query/grievances.

022 41434380

The customer can get in touch with the customer service executive over Chat (preferably from his/her registered
mobile number) between 9:30 am to 6:30 pm, 7 days a week & 365 days a year by saving the above Official
Chat WhatsApp Chat number on his/her smartphone. In addition to WhatsApp Chat, the customer can also Chat with the
customer service executive by simply using the Chat option given in the Pay with Ring App.

During non-working hours, the customer can use the automated Chatbot service available on the same number for
getting his/her basic queries resolved and for raising a grievance too.

[email protected]
Email
The customer can get in touch with the customer service executive over Email by sending his query/grievance
(preferably from his/her registered email id) to the above mentioned email id of the company.

E) Grievance Redressal Mechanism – Level 2

If customer is unable to get a satisfactory response or is unable to reach the above Level 1 channels for Grievance Redressal,
he/she may choose to escalate the issue to the below mentioned officer’s:

Grievance Redressal Officer (GRO) Nodal Officer (NO)

Mukul Dwivedi Suraj Shetty

Lender
1
Address: 10th Floor, Tower 4, Equinox Park, LBS Marg, Address: 10th Floor, Tower 4, Equinox Park, LBS Marg,
Kurla West, Mumbai, Maharashtra 400070 Kurla West, Mumbai, Maharashtra 400070
Ph: 07967112136 Ph: 08046983691
Email: [email protected] Email: [email protected]

Grievance Redressal Officer (GRO) Nodal Officer (NO)

Pravin Rathod Zaffar Khan

LSP Address: 10th Floor, Tower 4, Equinox Park, LBS Marg, Address: 10th Floor, Tower 4, Equinox Park, LBS Marg,
Kurla West, Mumbai, Maharashtra 400070 Kurla West, Mumbai, Maharashtra 400070
Ph: 080-68249277 Ph: 080-68249278
Email: [email protected] Email: [email protected]
Important Notes:

The Grievance Redressal Officer (GRO) may be reached on the number provided above anytime between 10:00 and
18:00 from Monday to Saturday except public holidays or through the e-mail address above. The GRO shall endeavor
to resolve the grievance within a period of 14 days from the date of receipt of a grievance.
If the Borrower does not receive a response from the GRO within 14 (fourteen) days of making a representation, or if
the Borrower is not satisfied with the response received from the GRO, the Borrower may reach the Nodal Officer
anytime between 10:00 to 18:00 from Monday to Saturday except public holidays or write to the Nodal Officer at the
e-mail address above.
If the grievance is not redressed by the Nodal Officer of the Company, within a period of 30 (thirty) days, then the
borrower can lodge a complaint over the Complaint Management System (CMS) portal under the Reserve Bank-
Integrated Ombudsman Scheme (RB-IOS).

F) Details of Recovery Mechanism:

SI Creva Capital Services Private Limited (SCCSPL) is an RBI registered NBFC follows all extant rules related to
collections practices as laid down under regulations. SCCSPL follows a customer first approach where the emphasis of
collections is to work with the borrower so as to ensure the best outcome for them, while educating them on their
rights and consequences under different scenarios.

The course of action adopted by SCCSPL post default by the borrower in repaying the scheduled repayment(s) is as
follows:

In the event of any delay or default in payment of any amount due and payable by the borrower in relation to the loan,
the immediate action taken is to initiate messaging through SMS, inapp-chat, Verified WhatsApp Business Account,
IVR, notifications, email and tele-calling by our inhouse collection team. The messaging is context-based and focuses
on customer education and warning around credit bureau impacting future loans and legal impact.
The next action taken is to send written communication by letters and/ or by electronic communication LDN (Loan
Demand Notice) and LRN (Loan Recovery Notice) through multiple channels including email, SMS, Verified WhatsApp
Business Account and registered post in vernacular languages.
Finally, SCCSPL delegates the recovery to its network of field agents who will first visit the borrower at the place of
their choice, and in the absence of any specified choice of place, at the place of their residence and if unavailable at
residence, at the place of business/occupation/ identified place of work. Such personal visits shall ideally be between
7.00 am and 7.00 pm. It is ensured that the external collection partners are compliant with RBI guidelines and
recommendations and follow best industry practice. In case of personal visits, identity and authority of persons making
such visits for follow up and recovery would be made known to the obligors at the first instance. All collection agents
will be required to follow a code of conduct covering their dealings with the borrowers. All the practices adopted for
follow up and recovery of dues and enforcement of security will be in consonance with applicable laws. In addition to
the foregoing, recovery proceedings may be initiated in accordance with applicable laws.

SI CREVA CAPITAL SERVICES PRIVATE LIMITED

Registered Office: 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla West, Mumbai, Maharashtra 400070.
CIN: U65923MH2015PTC266425 | Email: [email protected] | https://sicrevacapital.com