Loan Agreement

Asset Sales Centre
Location: Solapur
POWER DRIVE - TWO WHEELER LOAN DOCUMENTATION
LOAN ACCOUNT NO:

NAME OF APPLICANT: Datta Audumbar Gaikwad
ADDRESS: Kuran Vasti, Chale TAL PANDHARPUR Kuran Vasti
solapur India - 413304
AMOUNT SANCTIONED Rs. 87383

RATE OF INTEREST
TENURE (Months) 36
EMI
MODE OF REPAYMENT
MOST IMPORTANT INFORMATION
Attention: Please read carefully before signing
ACKNOWLEDGEMENT FORM
CUSTOMER'S COPY LAN___________________________
I/We refer to final application form No. MLP000066397035 Dated submitted by me/us to Axis Bank Limited. I/We have
been provided the following information and I/We have read and understood the following information and agree with the same and have accordingly
filled up the aforesaid application form.
Vehicle Manufacturing and Model HONDA Shine Drum

Facility Amount Not Exceeding Rs. 87383
Amount of each Installment
Total No of Installments ____________ Number Payable in 36 Months
No of advanced Installments ____________ Number
Due Dates for Installments ____________ day of each month**
Fixed Rate of Interest (For Loans with tenor up to 36 months)- 1 year MCLR ______% p.a.+
spread _____% p.a.="Effective Rate of Interest _____%p.a.", No reset
(For loans with tenor > 36 months) - "Effective Rate of interest _____% p.a."
Processing Fees Rs. 3058
Documentation charges Rs. 750/-
Stamp Duty Charges
Foreclosure Charges (5% of Principal
outstanding plus GST.)
Part Prepayment Charges
Cancellation charges Rs. 550/- + GST
Penal Charges Financial Default: 8% p.a. above applicable interest rate on the overdue amount (subject to the
aggregate not exceeding 24% per instance)
PDD collection charges Rs. 200
ROC Creation (Only for company cases) Rs. 2500
Additional Terms & Conditions
***Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account.
Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
There shall be no capitalisation of Penal Charges.
I/We acknowledge that:
I/We have not made any payment in cash/bearer cheque or kind along with or in connection with this application form.
Axis Bank Ltd shall be entitled to recall the loan/take possession of the vehicles/assets in the event I/We default in complying with the
obligations in relation to the facility and also that the registration certificate of vehicle duly endorsed on the name of Axis Bank referred to in the
application form will be handed over to Axis Bank Limited within 30 days from the date(s) of respective disbursements(s) under the facility.
I/We are aware that as and when the bank puts forth additional conditions, the same will be informed to me in advance as per extant
guidelines.
**Axis Bank Ltd. Follow defined installment dates
**In case of Moratorium Opted - For cases disbursed from 1st to 4th EMI would fall due on the 5th succeeding (next) month. For cases
disbursed from 5th to 20th EMI would fall due on the 5th succeeding (next) month. For cases disbursed from 21st to 31st EMI would fall
due on the 5th succeeding (next to next) month.
**In case of without Moratorium- For cases disbursed from 1st to 4th EMI would fall due on the 5th of same month. For cases disbursed
from 5th to 20th EMI would fall due on the 5th succeeding (next) month. For cases disbursed from 21st to 31st EMI would fall due on the
5th succeeding (next) month.
Accordingly, accounting reconciliations would be suitably effected at the time of payment of last EMI and surplus amount, if any, would be
refunded to the applicant.
Name of the Applicant(s) Datta Audumbar Gaikwad
Sign:
Date Location: Solapur
DSE/DSA/Connector Sign DSE/DSA/Connector Name
DSE/DSA/Connector Phone No. Location: Solapur
DSE/DSA/Connector Stamp
MOST IMPORTANT INFORMATION
Attention: Please read carefully before signing
ACKNOWLEDGEMENT FORM
BANK’S COPY LAN___________________________
I/We refer to final application form No. MLP000066397035 Dated submitted by me/us to Axis Bank Limited. I/We have
been provided the following information and I/We have read and understood the following information and agree with the same and have accordingly
filled up the aforesaid application form.
Vehicle Manufacturing and Model HONDA Shine Drum

Facility Amount Not Exceeding Rs. 87383
Amount of each Installment
Total No of Installments ____________ Number Payable in 36 Months
No of advanced Installments ____________ Number
Due Dates for Installments ____________ day of each month**
Fixed Rate of Interest (For Loans with tenor up to 36 months)- 1 year MCLR ______% p.a.+
spread _____% p.a.="Effective Rate of Interest _____%p.a.", No reset
(For loans with tenor > 36 months) - "Effective Rate of interest _____% p.a."
Processing Fees Rs. 3058
Documentation charges Rs. 750/-
Stamp Duty Charges
Foreclosure Charges (5% of Principal
outstanding plus GST.)
Cancellation charges Rs. 550/- + GST
PDD collection charges Rs. 200
ROC Creation (Only for company cases) Rs. 2500
Additional Terms & Conditions
I/We acknowledge that:
I/We have not made any payment in cash/bearer cheque or kind along with or in connection with this application form.
Axis Bank Ltd shall be entitled to recall the loan/take possession of the vehicles/assets in the event I/We default in complying with the
obligations in relation to the facility and also that the registration certificate of vehicle duly endorsed on the name of Axis Bank referred to in the
application form will be handed over to Axis Bank Limited within 30 days from the date(s) of respective disbursements(s) under the facility.
I/We are aware that as and when the bank puts forth additional conditions, the same will be informed to me in advance as per extant
guidelines.
**Axis Bank Ltd. Follow defined installment dates
**In case of Moratorium Opted - For cases disbursed from 1st to 4th EMI would fall due on the 5th succeeding (next) month. For cases
disbursed from 5th to 20th EMI would fall due on the 5th succeeding (next) month. For cases disbursed from 21st to 31st EMI would fall
due on the 5th succeeding (next to next) month.
**In case of without Moratorium- For cases disbursed from 1st to 4th EMI would fall due on the 5th of same month. For cases disbursed
from 5th to 20th EMI would fall due on the 5th succeeding (next) month. For cases disbursed from 21st to 31st EMI would fall due on the
5th succeeding (next) month.
Accordingly, accounting reconciliations would be suitably effected at the time of payment of last EMI and surplus amount, if any, would be
refunded to the applicant.
Name of the Applicant(s) Datta Audumbar Gaikwad
Sign:
Date Location: Solapur
DSE/DSA/Connector Sign DSE/DSA/Connector Name
DSE/DSA/Connector Phone No. Location: Solapur
DSE/DSA/Connector Stamp
LOAN CUM HYPOTHECATION AGREEMENT
THIS AGREEMENT IS MADE at the place and date as specified in the Schedule between those persons, whose name(s) and address( es ) are as
specified in the Schedule (hereinafter called the "Borrower(s)") of ONE PART and AXIS Bank Ltd., a company, incorporated under the Companies Act,
1956 and a Banking Company within the meaning of the Banking Regulation Act, 1949 and having its Registered Office and Corporate Office at 'Trishul',
3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad 380 006, Gujarat and Axis House, Bombay Dyeing Mills Compomd,
Pandurang Budhkar Marg, Worli, Mumbai - 400 025 respectively and one of the Branch/RAC/SRAC offices at the place as specified in the Schedule
(here in after called the "Bank") of the SECOND PART.
The expressions "Borrower(s)" and the "Bank", unless repugnant to the context, shall include their respective legal heirs, representatives, successors,
executors, administrators and assigns.
WHEREAS the Borrower(s) has/have requested the Bank and the Bank has agreed to provide Loan up-to the limit(s) as specified in the Schedule with
full power to the Bank from time to time to renew or reduce or enhance the limit or altogether withdraw the facility on the terms and conditions appearing
herein for the purpose of purchasing a Vehicle (hereinafter collectively and individually referred 0 as the "Loan"), details of which are specified in the
Schedule to this Loan Agreement.
IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS
1 Definitions and Interpretation

1.1 In this Agreement, the following meanings are applicable:
"Agreement" means this Loan Agreement for grant of Loan for the purchase of a Vehicle read in conjunction with the most important
information more particularly detailed in the Schedule.
"Borrower" means one or more entities whose name(s) and address(es) is/are stated in the Schedule executing this Agreement as borrower
(s) and each one being deemed to have made this Agreement individually and in case of more than one, all of them having agreed to
liabilities hereunder jointly and severally.
"Branch/RAC/SRAC" means the office of the Bank at the place mentioned in the Schedule and where the Loan is disbursed and shall include
any other Branch/RAC/SRAC where the Loan account is maintained or transferred to any time at the sole discretion of the Bank.
"EMI" or "Equated Monthly Installment" shall mean the amount payable every month by the Borrower to the Bank comprising of interest, or as
the case may be, principal and interest calculated on the basis of monthly rests at the rate applicable as stated in the schedule and is
rounded off to the next rupee.
"Post Dated Cheques" (PDCs) shall mean the cheques issued by the Borrower to match the due date of each installment.
"Electronic Clearing System" (ECS) shall mean the debit clearing service notified by Reserve Bank of India participation which has been
consented to in writing by the Borrower for facilitating the payment of EMIs.
"Standing Instruction" (SI) shall mean the written instructions issued by the Borrower to the Bank to debit the account of the Borrower
maintained with Bank for facilitating payment of EMIs.
"Loan" means the loans granted by the Bank in terms of this Agreement and shall also mean to include the principal amount of Loan and all
dues outstanding there under if the context so requires.
"Interest Rate" means the rate at which the Bank shall compute and apply interest on the Loan, as stated in the Schedule or as may be
amended from time to time by the Bank.
"Penal Charges" means the rate at which the Bank shall levy charges on the Borrower for the reason, as stated in the Schedule or as may be
amended from time to time by the Bank.
"Parties" means the Bank and the Borrower referred to collectively.
"Vehicle" means the Vehicle / Vehicles hypothecated to the Bank more particularly described in the Schedule, for the purchase of which, the
Loan has been granted by the Bank.
"Schedule" means the schedule of this Agreement, which forms a part of the Agreement.
1.2 In this Agreement, singular shall include plural and the masculine gender shall include the feminine and neutral gender.
1.3 Any expression not defined herein shall, if defined under General Clauses Act, 1897 shall carry the same meaning as assigned to it under the
said Act.
1.4 The arrangement of clauses in this Agreement shall have no bearing on their interpretation.
1.5 The clause headings are inserted for the sake of convenience only and shall not affect the interpretation of the provisions hereof.
2 Bank's Agreement to lend and Borrower's Agreement to borrow

2.1 The Bank agrees, based on the Borrower's Request, Representations, Warranties, Covenants and Undertakings as contained herein and in
the application for Loan and other documents executed or tendered by the Borrower in relation to the Loan, to lend to the Borrower and the
Borrower agrees to borrow from the Bank for the purchase of the Vehicle, the Loan on the terms and conditions as fully contained in this
Agreement and the Schedule.
2.2 The relationship between the Bank and the Borrower as lender and borrower shall commence from the date of this Agreement and subsist
until all monies due and payable by the Borrower to the Bank under this Agreement and in all other documents pursuant hereto shall have
been fully paid to and received by the Bank.
3 Fees, Charges, Costs and Claims
3.1 The Borrower(s) shall bear Service Charges, processing fee, Stamp Duty, Cheque bouncing Charges, Penal Charges, Cheque Swapping
Charges, Loan cancellation/Re -booking charges, Statement charges, Duplicate Repayment Schedule Charges, Duplicate No Dues
Certificate/NOC charges and any other fees, including GST, if any, as more particularly detailed in the Schedule, which the Borrower agrees
to reimburse to the Bank separately
3.2 The Bank shall also be entitled to recover from the Borrower any other charges or costs incurred or claims suffered by the Bank in connection
with the Loan, including on account of execution and stamping of this Agreement and any other documentation or security creation pursuant
to this Agreement.
4 Disbursement
The Bank shall, unless otherwise agreed between the Borrower and the Bank, disburse the Loan in lump sum or in suitable installments to be decided
by the Bank by issuing a Banker's Payment Order or a Demand Draft crossed as ”A/c Payee only' in the name of the Supplier more particularly
described in the schedule and secure a receipt in the Bank's name; or in the name of the previous financier towards the repayment of the previous
Loan to be taken over by utilizing this Loan.
4.1 It is understood that the charges in relation to the disbursement (including charges for issuance or for the collection of proceeds by the
beneficiary on such payment order or demand draft) shall be borne by the Borrower.
4.2 The Bank may not disburse at any time, any amount under the Loan unless the following conditions are complied within the sole discretion of
the Bank:
a) The Loan Agreement is duly executed and delivered to the Bank by the Borrower;
b) The Borrower's submission to the Bank, postdated cheques towards repayment installments;
c) Any other document or writing as the Bank may require in its sole discretion; and
d) Submission of all the necessary approvals and permission from the appropriate authorities.
4.3 The Bank may not, having disbursed any amount, disburse any further amount under the Loan unless the following conditions are complied
with in the sole discretion of the Bank before such further disbursement:
a) No event of default shall have occurred;
b) The Borrower shall have produced all or any other documents or writings as required by the Bank in its sole discretion, which shall be
binding on the Borrower.
4.4 The Borrower shall repay to the Bank the amount equated in terms of monthly installments as mentioned in the schedule as shall I remain due
and owing to the Bank regardless of whether the said Vehicle is in a working condition or requires any repair or otherwise not operational and
the Bank shall not be liable or responsible in any manner for the repair or non-performance of the said Vehicle. The EMI includes the interest
component.
4.5 Interest Tax and other taxes/levies as may be applicable from time to time on the Loan shall be borne solely by the Borrower.
4.6 The Bank shall be entitled to debit all other amounts due and payable by the Borrower under this Agreement (including but not limited to
interest tax, fees, stamp duty, processing fee, login fees, costs, service and other charges, claims and expenses including expenses which
may be incurred by the Borrower in the enforcement or attempted enforcement of security created in favour of the Bank) to the Borrower's
Loan account, unless separately reimbursed to the Bank by the Borrower. Such amounts shall form part of the Loan.
4.7 All amounts in default for payment (i.e., not paid by the Borrower when due to the Bank) including arrears of EMI, interest before the
commencement of EMI, costs, charges, and expenses debited to the Loan account shall attract Penal Charges and interest and Penal
Charges shall thereafter accrue at such revised rate(s) as per the schedule.
5 Repayment
5.1 The Loan (including the principal, interest thereon and any other charges, premium, fees, taxes levies or other dues payable by the Borrower
to the Bank in terms of this Agreement) be repayable by the Borrower to the Bank-
a) at the Branch (or at any other branch of the Bank or at any other place as may be notified by the Bank)
b) by way of Equated Monthly Installment (EMI) as mentioned in the Schedule towards repayment of principal and interest; and
c) by separate repayments in case where (a) the Loan is proposed to be paid before the commencement of EMI or (b) towards repayment of
interest before the commencement of the EMI or (c) towards repayment of Penal Charge, fees, charges, taxes, claims, costs and
expenses charged to the Loan account.
d) Interest on the amount of the Loan is to be applied at the fixed rate of interest stipulated in the Schedule to the Loan Agreement. The rate
of interest will be fixed for the entire tenure of the loan.
5.2 The Equated Monthly Installment (EMI) amount shall be arrived at so as to comprise repayment of principal and payment of interest
calculated on the basis of the interest rate, periodicity, of repayment, of the entire liability under the Loan at the end of its tenor and the
Borrower agrees to continue paying EMIs until all amounts due under the Loan have been repaid in full to the Bank.
5.3 No notice, reminder or intimation will be given to the Borrower regarding his obligation to pay the EMI regularly on each due date. It shall
entirely be his responsibility to ensure prompt and timely payment to the Bank. Any delay or default in payment of any EMI shall make the
Borrower liable to pay to the Bank, Penal Charges (for the period of such default) as mentioned in the Schedule, besides constituting a
default thereby making all sums under this Agreement due and payable to the Bank forthwith
5.4 All repayments of Principal and payment of interest and all other amounts by way of EMI or otherwise shall be given effect to in the Loan
account in accordance with the method of effecting payment as stated in the Schedule or as adopted by the Bank from time to time
5.5 The Borrower(s) shall be permitted to make partial prepayment of the loan ahead of the prescribed EMI Schedule provided that such partial
prepayment shall be permitted only once in a calendar month and in aggregate not more than twice in a financial year. The Borrower(s) may,
foreclose the loan (subject to foreclosure / part prepayment charges payable at the rate mentioned in the Schedule on the outstanding
amount) by giving a 30 days notice in writing to that effect.
5.6 The loss, theft, destruction or damage of the Vehicle shall not in any event detract from the liability of the Borrower to make the repayment
herein nor shall it affect the continuance of this Agreement
5.7 Borrower(s) I agree(s) to keep bank account (details of which the Borrower(s)I has/have submitted to the Bank for setting up the Standing
Instruction/NACH Mandate to recover the EMI/Instalment) adequately funded at least one day prior to the repayment/EMI due date. Borrower
(s) understand(s) and agree(s) that if the Borrower(s) fail(s) to fund the bank account as aforesaid and the Standing Instruction/NACH
Mandate fails to be honoured on the repayment/EMI due date, Bank shall be at liberty to levy applicable charges as per the Loan Agreement
in addition to the other rights available to the Bank under this Loan Agreement and applicable law/regulatory guidelines.
6 Covenants for Price of the Vehicle

6.1 The parties hereto confirm that the Vehicle Price has been arrived at after taking into account all relevant taxes, duties and levies applicable
as on the date of this Agreement. The Borrower(s) agrees that the installments shall be increased by any fresh imposition or increase in
Vehicle Price, taxes, duties, levies and charges during the subsistence of this Agreement or that are or may be levied on the Installments or
the transaction hereunder or may become payable by the Bank by virtue or entering in to this Agreement. In the event of such taxes, duties,
levies and charges increasing during the period of the placing of the order of the Vehicle and its acceptance and eventual delivery to the
Borrower(s), such increase shall be borne and paid by the Borrower(s).
6.2 If the price of the Vehicle is revised upwards after the date hereof, then and in that event the Borrower(s) shall pay all of the amount (in
addition to the amount paid or to be paid by limit along with the Loan as the price of the Vehicle) that may be required for acquiring the
Vehicle at such revised price and the Bank shall be liable to pay any amount by way of Loan or otherwise for such revision in price of the
Vehicle.
6.3 If the Borrower(s) fails to pay the amount as mentioned in Sub clause 7.2 within fifteen days of revision of the price of the Vehicle or within the
period allowed for this purpose by the manufacturer or dealer of the Vehicle, whichever is earlier, then and in that event the Bank at its
discretion as agent of the Borrower(s) cancel, annul or rescind the booking of the Vehicle and collect the refund of booking price (after such
deductions as may be made by the manufacturer of the Vehicle or its dealer) for adjustment thereof against any amount that may be due and
payable by the Borrower(s) to it in terms hereof.
6.4 The Borrower(s) for the purpose of clause 7.3 hereby irrevocably authorizes the Bank to cancel, and/or rescind any booking of the Vehicle
and to receive any refund or booking price of the Vehicle from the manufacturer thereof or its dealer.
7 Security
7.1 In consideration of the Bank having granted/agreed to grant the Loan Facility, the Borrower/s hereby HYPOTHECATES to and charges, as
security to the Bank, for securing the moneys that may from time to time become due and payable by the Borrower/s to the Bank and the
Balance Due to the Bank, by way of First Exclusive charge in favour of the Bank the assets of the Borrower/4 which are more particular
described in the Schedule hereto (hereinafter referred to as "Hypothecated Assets") and the same SHALL BE AND STAND
HYPOTHECATED to the Bank by way of first charge as security for the due repayment of Loan Facility and also for all indebtedness or
liabilities of the Borrower/s to the Bank together with all interest, commissions, costs, charges and expenses payable to or incurred by the
Bank including those for the enforcement of any of the security ( ies). Provided that in case the Hypothecated Asset(s) is yet to be purchased
or has not been delivered and/or registered with the appropriate authority, wherever applicable, at the time of signing of this agreement, then
the particulars of the assets shall be intimated to the Bank in writing, as an addendum to this agreement, with all the relevant particulars of
the assets including the registration details of the assets as may be applicable, whereupon such intimation in writing shall form part of the
Schedule attached and shall deemed to have been incorporated in this Agreement.
7.2 The Bank shall be entitled to call upon the Borrower and the Borrower shall be liable to furnish to the Bank additional and / or alternate
security as decided by the bank in the event of any substantial deterioration in the value of the security and the Borrower shall be bound to
provide any additional security within 30 days from the receipt of the letter from the Bank.
7.3 The Borrower shall execute any bonds, promissory notes for the Loan and all such documents, power of attorney(s)/undertakings and
agreement as maybe required by the Bank at time during the pendency of this loan.
7.4 That the Bank is not responsible for delivery of duly endorsed Registered Certificate and that the Borrower(s) shall not withhold payment of
installments of the pretext that Registration Certificate has not been delivered.
I / We Confirm having read and understood the text contained in the above mentioned
pages of this agreement.
Signature of Borrower(s) and co-borrower(s)

8 Bank’s Rights
The Bank shall, in relation to the Loan:
8.1 have the sole right at any time during the tenure of this Agreement to revise/reschedule the repayment terms/ amount of EMI or of any other
amounts outstanding there under and the Borrower shall make all future repayments to the Bank according to such revised schedule on
being notified by the Bank of such revision or reschedulement;
8.2 have the sole right to amend any of the terms and conditions of this Agreement including but not limited to revision of Interest Rate (including
the Penal Charge), periodicity of compounding interest, method of effecting credit of the repayments without assigning any reason the
Borrower and the Borrower agree that such revision shall become applicable from date of such revision in the records of the Bank;
8.3 have the right to receive and adjust any payment/s that it may receive as an assignee of the insurance in relation to the Vehicle towards
amounts due and/or payable by the Borrower under this Agreement;
8.4 have the right to enter upon the premises in which the Vehicle is kept or wherever the Vehicle is available for the purpose of inspecting,
examining and repossessing the same. In the event of any resistance or prevention of access either by the Borrower or any other person, the
representative of the Bank shall be entitled to break open the lock or the door of the premises where the Vehicle is situated and enter the
premises for the purpose herein stated;and repossessing the same. In the event of any resistance or prevention of access either by the
Borrower or any other person, the representative of the Bank shall be entitled to break open the lock or the door of the premises where the
Vehicle is situated and enter the premises for the purpose herein stated;
8.5 be entitled to disclose any information about the Borrower, his account relationship with the Bank md/or any default committed by him
(whether such information is provided by the Borrower or obtained by the Bank itself and whether in form of repayment conduct, rating or
defaults) to its head office, other branch offices, affiliated entities, Reserve Bank of India, any Refinancing agency and such third parties as
the Bank may in its sole and exclusive discretion, deem fit and proper. The Bank shall also be entitled to seek and receive any information as
it deems fit in connection with the Loan and/or the Borrower from any third party; and
8.6 be entitled to require the co- Borrower, in the event of the co-Borrower opting to resign or retire from the employment prior to the age of
superannuation or is discharged or removed from service before such date for any reason whatsoever, to instruct his employer to remit the
entire dues (including provident fund, gratuity and compensation) becoming payable by the co-Borrower from his employer on account of his
such cessation of employment and to receive and appropriate the same towards the co-Borrower’s liability under the Loan.
8.7 superannuation or is discharged or removed from service before such date for any reason whatsoever, to instruct his employer to remit the
entire dues (including provident fund, gratuity and compensation) becoming payable by the co-Borrower from his employer on account of his
such cessation of employment and to receive and appropriate the same towards the co-Borrower’s liability under the Loan.
8.8 have a lien and right of set-off on all moneys belonging to the Borrower standing to their credit in any account whatsoever with the Bank
9 Borrower’s Representations, Warranties, Covenants and Undertakings.

9.1 With a view to induce the Bank to grant the Loan to him, the Borrower, hereby represents/warrants to/ covenants/ undertakings with the Bank
that it-
a) has furnished complete and accurate information and details to the Bank about himself and no vital information has been omitted to be
stated
b) shall always have until all his dues hereunder are not repaid to the Bank, a clear and marketable tile to the Vehicle, free from all
encumbrances whatsoever
c) shall not, during the tenure of this Agreement, avail of or obtain any further Loan or facility on lie security of the Vehicle without the prior
written consent of the Bank.
d) shall in addition to the income/ financial statement/s required by the Bank furnish such other information/ documents concerning his
employment, trade, business, profession or otherwise as the Bank may require from time to time;
e) shall obtain and do all that is necessary to maintain in full force and effect all authorizations, approvals, consents, insurances, licenses,
permissions and renewals required in or by the law of India in relation to this agreements, each of the Collateral Documents and the
performance of obligations hereunder and the Vehicle;
f) shall get the Vehicle registered with the appropriate Registering Authority under the Motor Vehicles Act, 1988 and ensure to note the lien of
the Bank on RTA document;
g) shall not apply for any duplicate Registration Certificate for the Vehicle otherwise than by delivering the application thereof to the bank for
endorsing its charge of the Vehicle;
h) shall also keep deposited with the Bank a copy of the Insurance Policy when he receives the same and shall pay all premia and other
amounts due under the said Policy punctually as and when they become due and shall take all steps necessary to maintain the
insurance Policy in full force and effect and shall abstain from doing any acts whereby the said Policy may or likely to be vitiated and
ensure to note the lien of the Bank on the Insurance Policy document.
i) shall do all acts as may be required to maintain the Bank's status of sole beneficiary under the said insurances and receive money thereon.
In an event any Insurance claim is received, it shall first go towards settling the Borrowers Loan account with the Bank and any balance
shall be alone be refunded to the Borrower. In case installment settlement is lesser than the amount due to the bank the Borrower shall
forthwith pay it to the Bank, the said deficit amount.
j) shall promptly inform the Bank of any loss or damage to the Vehicle due to any force majeure or Act of God;
k) shall in addition to the income/ financial statement/s required by the Bank furnish such other information/ documents concerning his
employment, trade, business, profession or otherwise as the Bank may require from time to time;
l) shall promptly and without requiring any notice or reminder from the Bank, repay to the Bank the Loan in accordance with the Repayment
Terms mentioned in the Schedule;
m) shall (in case of more than one Borrower) be jointly and severally liable to repay the Loan, interest and all other sums due and payable
under this Agreement and to observe its terms and conditions;
n) shall maintain the Vehicle in good order and habitable condition and not allow it to deteriorate or commit any act which is destructive or
permanently injurious to the Vehicle or do anything which will render the security in favour of the Bank, insufficient;
o) shall pay and discharge all rates, taxes, outgoings and charges pertain to the Vehicle;
p) where applicable, shall inform the Bank of any likely change in his employment;
q) shall not during the tenure of this Agreement, either part with possession of or create third party rights in the Vehicle or any part of it
(whether by way of sale, exchange, lease, mortgage, agreement or option or otherwise);
r) shall not stand surety or guarantor for any third party liability or obligation;
s) shall not leave India for employment or business or long stay without first fully repaying the Loan then outstanding dues payable with
interest and other dues;
t) shall comply with all the terms of the most important information and keep himself aware of the rules of the Bank, as pertaining to this
Loan, and in force from time to time,
u) shall obtain all necessary licenses, permits and permissions for the use of the Vehicle under all relevant statutes including the Motor
Vehicles Act, 1988, the rules thereunder or any statutory replacement or amendment thereof,
v) agrees and undertakes that the Vehicle shall be operated and driven only by those persons holding a valid driving license.
w) Shall not remove the Vehicle or permit or suffer it to be removed from the State of ______________________________ without the
permission of the Bank. Provided that the Bank shall be entitled though not bound to grant a general or continuing permission for the use
of the Vehicle for a specific period of time and/or for a specific destination outside the State aforesaid.
x) undertakes to intimate the Bank of any change in his residential address or employment or any change in the premises where the Vehicle
is normally retained (when immovable) within 10 days from the date of such change.
y) shall duly secure the endorsement in regard to this Loan and lien-marked to the Bank in Registration Certificate Book and in the files and
records of the Regional Transport Officer as required by law and shall submit to the Bank immediately thereafter, copies of the
Registration Certificates duly certified. In case any fresh registration is required, the Borrower undertakes that the same shall be similarly
endorsed to establish the hypothecation to the Bank
z) shall duly get the Final invoice lien-marked to the Bank.
aa) agrees and undertakes that he shall not do or permit to be done any act whereby the registration to the said Vehicle is suspended or
cancelled.
ab) shall assume all personal liabilities for any injury or accidents to any person or property arising from or the use of the said Vehicle and
shall indemnify and keep the Bank indemnified against all claims or liabilities of whatsoever nature arising by reason of the use of the
said Vehicle or otherwise howsoever.
ac) agrees to maintain the Vehicle in good and serviceable condition throughout the period of this Agreement and promptly carry out repairs
that may be necessary for its smooth operation.
ad) shall not do or cause to be done any act which may result in
ae) the Vehicle being seized or confiscated by any authority under law.
af) shall in the event of the Vehicle meeting with any accident, immediately inform the Bank of the occurrence of such accident and shall
complete all acts and formalities as may be necessary in law to ensure that the security of the Vehicle is not jeopardized in any manner.
So also if the Vehicle is lost, stolen or damaged, the Borrower shall immediately notify the Bank and shall at his own expense duly notify
the Insurance Company and take all steps for the repair or recovery of the Vehicle and in order to secure its full insurable value. Any
such writing shall be delivered to the Bank within three working days of such damage or lodgement of claim;
9.2 The Borrower(s) warrants that the Borrower(s) shall have and maintain sufficient balance in the account in the account of the drawee bank for
payment of Post-dated Cheques, SI/ECS instruction on the day when any installment therein become payable and for 45 days thereafter to
honour any PDC.
9.3 The Borrower(s) hereby warrants and undertakes that the Borrower(s) has paid all public demands and all taxes and revenues payable to the
Government of India or the Government of any state or to any local authority and that at present there are no arrears of such taxes and
revenues due and outstanding.
9.4 It shall be the Borrower's obligation to keep himself acquainted with the rules of the Bank, from time to time.
9.5 The Borrower hereby agrees and undertakes that no such person whose name is appearing in the list of Willful defaulters shall be inducted on
its board and that in case, such a person is found to be on its Board, it would take expeditious and effective steps for removal of such person
from its Board.
9.6 The borrower agrees that he/she is not PEP (Politically exposed person-are persons who are or have been entrusted with prominent public
functions in a foreign country e.g. Heads of States/Governments, senior politicians, senior government/judicial/military officers, senior offices
of state owned corporations, important political party officials etc.) and undertakes that in event of subsequently becoming the PEP, he will
immediately intimate the bank regarding the same.
9.7 Please refer to the following for privacy policy and disclaimer https://www.axisbank.com/privacy-policy https://www.axisbank.com/disclaimer
9.8 I/ We will ensure that any update/change in any information or documents provided by me/us in future is intimated/ informed to the Bank
promptly, i.e., within 30 days from the date of change.
9.9 The Borrower hereby acknowledges and agrees that the Bank has a right to award a separate mandate to our Auditor or any independent
Auditor, as the Bank may deem fit with a view to obtain a specific certificate regarding diversion /siphoning of funds by the Borrower. The
Borrower agrees and undertakes to co-operate with such Auditors and provide the necessary information and/or documents as may be
required by such Auditors. The Borrower also agrees and undertakes to bear all the expenditure in respect of obtaining the said Certificate
and agrees to indemnify and keep the Bank indemnified in this regard.
9.10 The Borrower declares, assures and states that, except as mentioned hereunder, the Borrower is not a director nor relative“ of any director
or one of its directors/partners /members (if the Borrower is a company/partnership firm) is a director; of the Bank or any other Banks
including Scheduled Co-operative Banks, subsidiaries/trustees of mutual funds/ venture capital funds; and the Borrower is rot a relative* or
none of its directors/ partners/ members (if the Borrower is a company/partnership firm) of any Senior Officer* of the Bank or of any other
Banks;
*The term ’Senior Officer’ means an officer of the Bank, who is in equivalent scale as an officer in senior management level in Grade IV any officer
and above in a nationalized bank or any officer in equivalent scale in the State Bank of India and associate banks and in any banking company
incorporated in India.
*The term "relative" shall mean and include any or all of the following persons: (a) Spouse (b)Father (c) Mother (including step-mother) (d) Son
(including step-son) (e) Son’s Wife (f) Daughter (including step-daughter) (g) Daughter’s Husband (h) Brother (including step-brother) (i) Brother’s wife
(j) Sister (including step-sister) (k) Sister's husband (I)Brother (including step-brother) of the spouse (m) Sister (including step-sister) of the spouse.
The Borrower makes the above declaration solemnly and sincerely believing the same to be true and knowing fully well that on the faith and strength
of the correctness thereof the Bank has agreed to grant the Facility. The Borrower also agrees that it is a condition of the grant of the Facilities that if
any statement made with reference to the above is found to be false at any time the Bank shall at liberty and entitled to revoke the Facilities. OR The
Borrower declares that the Borrower is related to the directors and /or Senior Officer(s) of the Bank or of any other Banks as specified hereto:
Sr. no. Name of Director(s)/Senior Officer(s) Designation Relationship

1.
2.
3.
10 Indemnity
The Borrower(s) shall indemnify the Bank and keep indemnified the Bank save and harmless on demand in respect of any actions, claims, costs,
damages, demands, expenses, losses and liabilities made against, suffered or incurred by the Bank arising directly or indirectly from or in connection
with: -
10.1 any failure by the Borrower(s) to comply with the provisions of this Agreement and/or
10.2 any liability including third party liability that may arise out of the possession, operation and use the Vehicle by the Borrower(s) or by its
employees or by its Agents of by other persons whosoever whether or not authorized by the Borrower(s) for use of the said Vehicle and
incidental to that purpose and/or
10.3 any claims, losses, demands, actions, costs, expenses, and liabilities incurred or suffered by the Bank by reason of the representations and
warranties given by the Borrower(s) being false or untrue in material respect and/or
10.4 any claims, losses, demands, actions, costs, expenses and liabilities incurred of suffered by the Bank by reason of the hypothecated Vehicle
not being free form encumbrance and/or any previous charge.
The Borrower(s) shall keep the bank informed of all development regarding such actions, claims, cost, damages, demands, expenses, losses and
liabilities and shall not dispute, compromise or otherwise deal with the same subject to the consent given by the Bank. The Bank shall however be
under no obligation and/or liability to the Borrower(s) to provide and assistance in connection with any such claim that the Borrower(s) may require.
11 Insurance and Maintenance

11.1 The Borrower(s) shall at its own expense during the continuance of the security herein keep the Hypothecated Vehicle covered under
comprehensive risk, including riot, civil commotion risk, fire, theft, unlimited third party risk and other hazards as stipulated from time to time
with such insurance company as may be required by the Bank by timely payment of all premia in respect of such insurance and produce and
deliver (if so required by the Bank) any insurance policy, cover note or receipt on demand by the Bank for its inspection and verification.
11.2 The insurance policy to be taken out hereunder shall be in the name of the Borrower(s) and the Bank shall be described as loss payee
/beneficiary under such insurance.
11.3 If the Borrower(s) fails to keep the Vehicle in a good and marketable condition, the Bank may without prejudice to its rights and remedies
under this agreement and in law take such steps as it may deem fit to keep and maintain the Vehicle or insure or renew such insurance at
the Borrower's costs, charges and expenses, which shall be reimbursed by the Borrower(s) on demand by the Bank.
11.4 In order to safeguard the security for the Loan and to ensure that the Bank's lien is marked on the insurance, the Bank may get the
insurance done on behalf of the Borrower(s), by being a facilitator and making the premium payment of the approved insurance company
through the Borrower’s postdated cheques/pay orders/any other payment instructions. However any non-payment on the part of the Bank
due to any reason whatsoever shall not affect the liability of the Borrower(s) to pay the necessary insurance premium and to keep the Vehicle
(s) insured. The first claim on any insurance proceeds shall be that of the Bank with respect to insurance policy and its renewal as stipulated
from time to time and the Borrower(s) shall pay such other amount as may be specified by the Bank form time to time as nominal
compensation for the service rendered by the Bank for facilitation the above mentioned arrangement with the insurance company and
ensuring that the Bank's name is marked under insurance. The transaction fee is subject to change at the discretion of the Bank.
11.5 The Bank at its option shall be entitled to adjust, settle or compromise in any manner whatsoever at the Borrower's cost any dispute arising
under or in connection with any such policy or insurance and such adjustment, settlement and compromises shall be valid and binding on the
Borrower(s)
11.6 The Bank at its option will have the right to appropriate any monies received from the insurance company towards the Borrower's obligation
to the Bank.
11.7 The Borrower(s) accepts that the Bank shall not liable for any loss on account of Non-Renewal of insurance of the Vehicle and/or delay/non-
payment by the insurance company/or any settlement claim by the Borrower(s).
12 (A) Events of default.

The Bank may by a written notice to the Borrower, declare all sums outstanding under the Loan (inching the principal, interest, charges, expenses) to
become due and payable forthwith irrespective of any agreed maturity and enforce the security create in favour of the Bank for the Loan upon the
occurrence (in the sole decision of the Bank) of any one or more of the following:
a) The Borrower commits any default in the payment of EMIs and in the payment of any other amounts to lie Bank when due and payable;
b) The Borrower fails to pay to any person other than the Bank any amount when due and payable or any person other than the Bank demands
repayment of the Loan or dues or liability of the Borrower to such person ahead of its repayment terms as previously agree d between such
person and the Borrower;
c) The Borrower defaults in performing any of his obligations under this Agreement or breaches any of lie terms or conditions of this Agreement or
any other security documents, undertakings etc. executed in favour of the Bank;
d) The death, failure in business, going into liquidation / dissolution, ,amalgamation or reconstructed, except with prior written approval of the
Bank, general assignment for the benefit of creditors, if the Borrower suspends payment to any creditors or threatens to do so, filing of any
petition of winding up against the Borrower
e) Any of the information provided by the Borrower to avail the Loan or any of his Representations, Warranties herein being found to be or
becoming incorrect or untrue;
f) Any person other than the Bank commencing proceedings to declare the Borrower insolvent or if the Borrower shall become bankrupt or
insolvent or commit act of insolvency;
g) The value of the Vehicle or any security (including guarantee/s) created or tendered by the Borrower, in the sole discretion and decision of the
Bank, depreciates entitling the Bank to call for further security and the Borrower fails to give additional security;
h) If the Vehicle is destroyed, sold, disposed of, alienated, attached or restrained in any manner;
i) The Borrower fails to create the security as provided herein; or
j) The Bank, for any regulatory or other reasons, is unable or unwilling to continue the Loan;
k) If a receiver is appointed in respect of the whole or any part of the property /assets of the Borrower or if any attachment, distress, execution or
other process against the Borrower, or any of the securities is enforced or levied upon;
l) If the Borrower ceases or threatens to cease or carry on its Business or if the Co-Borrower opts to resign or retires from the employment prior to
the age of superannuation or is discharged or removed from service before such date for any reason whatsoever;
m) If it is certified by an Accountant of a Firm of Accountants appointed by the Bank ( which the Bank is entitled and hereby authorized to do so at
any time ) that the liabilities of the Borrower exceed the Borrower's assets or that the Borrower is carrying on business at a loss;
n) If any circumstance or event occurs which would or is likely to prejudicially or adversely affect in any manner the capacity of the Borrower to
repay the Loan or any part thereof (or the implementation of the Project).
o) If any attachment, distress, execution or other process against the Borrower, or any of the securities is enforced or levied upon;
p) If the Borrower, without prior written consent of the Bank, attempt or purport to create any charge, hypothecation, lien or other encumbrance
over the Borrower's Vehicle, which is or shall be the security for the repayment of the said Dues except for securing any other obligations of
the Borrower to the Bank;
I / We Confirm having read and understood the text contained in the above
mentioned pages of this agreement.
q) Upon happening of any substantial change in the constitution or management of the Borrower without devious written consent of the Bank or
upon the Management ceasing to enjoy the confidence of the Bank;
r) If the Borrower fails to furnish any information or documents required by the Bank;
s) If the Borrower fails to furnish to the Bank detailed end use statement of the Loan as and when so required by the Bank within 10 (ten) days of
receiving such request from the Bank;
t) The Borrower(s) fails to pay any insurance premium for the Hypothecated Vehicle or cheque bounce changes in terms and conditions hereof;
u) The Hypothecated Vehicle is confiscated, attached, taken in to custody by any authority or subject to any execution proceeding;
v) The Vehicle is distrait, endangered or badly damaged due to an accident or any other reason whatever causing the same to be a total loss in
the opinion of the Bank or caused body injury to any person due to any accident or otherwise
w) The Vehicle is stolen or untraceable for a period of 30 days for any reason whatever;
x) Any Cheques delivered or to be delivered by the Borrower(s) to the Bank in terms and conditions hereof is not encashed for any reason
whatsoever on presentation;
y) Any instructions given by the Borrower(s) for stop payment of PDC/ revoke SI/ECS for any reason whatsoever;
z) The Borrower(s) fails to supply a certified true copy of the registration certificate within reasonable time
aa) The Vehicle has been used or alleged to have been used for any illegal purposes or activity.
ab) The Guarantor hereby agrees that, the Guarantor is liable to be treated as a Willful defaulter in terms of the applicable RBI guidelines, in the
event, the Lender/Bank makes a claim on the guarantor on account of the default made by the principal debtor, and the Guarantor refuses to
comply with the demand made by the Lender/ Bank, despite having sufficient means to make payment of the dues.
ac) All amounts in default for payment, due to delay or non-payment of EMI/Instalment or interest thereon including any costs, charges and
expenses or due to occurrence of any other Event of Default shall be debited to the loan/ drawal account and in such case Bank shall also
levy the Penal Charges and other charges as applicable and prescribed in the [Schedule of Loan cum Hypothecation agreement], in the said
loan/ drawal account for the period of default, which shall be paid by the Borrower.
ad) However, if Borrower fails to make the payment of above said amounts in default for payment or the Penal Charges and other charges levied
by the Bank within 90 days from the due date of such payments, in that case said loan/drawal account shall be classified as Non-Performing
Asset (“NPA”).
ae) In order to regularise the said loan/drawal account, the Borrower shall be liable to pay all the above-mentioned amounts in default and/or
Penal Charges and other charges, as the case may be [on immediate basis].
Notice on the happening of an Event of Default
If any event of default or any event which, after the notice or lapse of time or both would constitute an event of default shall have happened, the
Borrower shall forthwith give the Bank notice thereof in writing specifying such event of default, or such event.
(B) Consequences of default:
a) In the event of any default as stated above the Bank shall have the right:-
i) To recover the entire dues of the Loan,
ii) To suspend any withdrawal to be effected in the Loan account,
iii) Take possession of the Vehicle whether by itself or through any of the Recovery Agents or Attorneys as may be appointed by the
Bank
iv) Take any other action as it may deem fit for recovery of its dues and enforcement of the securities.
b) Further, the Bank shall after giving notice be entitled to forthwith take physical possession of the Vehicle and alternate sell, transfer the
Vehicle either by itself or through its agents and sell or otherwise deal with the same to enforce the bank’s security and recover the dues,
without the intervention of the Court. In the exercise of the powers herein contained, the Bank shall not be bond or liable for any losses
the Borrower may suffer as a result of the said realisation and sale. In the event of the Bank or its authorised representatives being
prevented from securing possession of the Vehicle, the representatives of the Bank shall be entitled to break open the lock and enter the
premises for the purpose herein stated.
c) The Borrower agrees to the procedure for recovery or for enforcement of the security which shall be as follows:
i) The Bank shall be giving normally a notice of 7 (seven) days to repay the entire dues of the Loan, failing upon which the Ban k shall be
entitled to repossess the vehicle through Bank's representative or any other person as may be appointed by the Bank from time to
time. However in case of emergency and non-availability of borrower's details and/or whereabouts, the Bank shall be entitled to take
possession of the vehicle without any notice. After repossession of the vehicle the Bank Shall endeavor to give all the requisite
information and chance to the Borrower to repay its dues before actual sale of the vehicle.
ii) That the Bank shall after taking the possession send a final notice of 7 (seven) days to the Borrower to repay the entire due s along
with the interest, repossession charges and any other charges as may be applicable, failing upon which the Bank shall be enticed to
sale the said vehicle by public or private auction or private treaty as it may deem fit
iii) The sale conducted by the Bank shall be valid and complete on the date of sale and the same will be conclusive as regards to the
terms of the said sale and also the sale consideration and the Borrower shall not have any dispute/claim on the same.
iv) The Bank shall endeavor to give all reasonable chances to redeem the vehicle possession and if the Borrower pays off the entire
dues before the actual sale, the Bank shall take requisite steps to redeem the possession to the Borrower. However, the above said
procedure shall be subject to the changes/modifications as may be decided by the Bank keeping in view the guidelines issued by
the RBI and/or any other regulatory authority from time to time and the same shall be valid and binding upon the Borrower.
d) The Borrower agrees and undertakes not to prevent or obstruct the Bank from taking possession of the Vehicle irrespective of whether the
Loan has been recalled whenever in the opinion of the Bank, there is an apprehension of any money not being paid or the Bank's
security is being jeopardized and that the Bank's representatives will be entitled to sell, give on rent, or otherwise deal with the Vehicle
by public or private auction or private treaty, without being liable for any loss, and to apply the net proceeds thereof as specified in these
presents. And in such or likely circumstances the notices as aforesaid shall be waived.
e) The Borrower shall pay any deficiency, forthwith to the Bank. The Bank shall also be entitled to adjust and a right of set-off on all moneys
belonging to the Borrower standing to their credit in any account whatsoever with the Bank, towards payment of such deficiency. Nothing
contained in this clause shall oblige the bank to sell, hire or deal with the Vehicle and the Bank Call been titled to proceed against the
Borrower independently of such of any other security. The Borrower agrees to accept the Bank's accounts in respect of such sale, hire,
dealing or otherwise as conclusive proof of the correctness of any sum claimed to be due from the Borrower .In case of any deficit, the
deficit amount shall be recovered by the Bank from the Borrower.
f) The Bank may at the risk and cost of the Borrower engage one or more person(s) to collect the Borrower’s outstanding and /or to enforce
the security and may furnish to such person the right and authority to perform and execute all acts, deeds, matters and things connected
therewith or incidental thereto as the Bank thinks fit.
g) The Borrower hereby agree as a pre-condition of the said credit facility granted to it by the Bank that in case the Borrower commits default
in the repayment of the credit facility or in the repayment of interest thereon or any of the agreed installment of the credit facility on due
date/s the Bank and/or Reserve Bank of India will have an unqualified right to disclose or publish the name of the Borrower or the name
of the Borrower's company/ firm / unit and its directors / partners / proprietors as defaulter in such manner and through such medium as
the Bank or Reserve Bank of India in their absolute discretion may think fit.
h) The Borrower commits a default in repayment of dues and consequently the account is to be classified as NPA, all other borrower
accounts of the Borrower, with the Bank also shall be classified as NPA as per the guidelines issued by RBI.
13 Appointment of the Bank as the Borrower’s Attorney

That borrower do hereby irrevocably nominate, constitute and appoint the Bank acting through any of its officers or agents as his/her/its true and
lawful attorney for him/it/her in his/her/its/their name and on behalf and at its cost and risk to do, execute and perform all or any of the following acts,
deeds, matters and things to do so as:
13.1 To execute and complete in favour of the Bank or its nominee any documents which the Bank may require for perfecting its title to or for
vesting the said Vehicle in the Bank or its nominee or any purchaser thereof.
13.2 To disburse the loan amount of purchase of the said Vehicle directly to the dealer/seller and obtain a receipt for such payment from the
dealer/seller.
13.3 To take inspection directly or to engage any Advocate, Chartered Accountant or registered trade practitioner for taking inspection of my/our
income tax returns and assessment proceedings, Appeal proceedings etc. relating to the current and previous Assessment years. This
authority is being given to the Bank to enable the Bank to verify the veracity of various representations made by me/up the undersigned, for
seeking Two wheeler loan from the Bank.
13.4 To appear before the office of Registration Authority, Regional Transport Officer, Sales Officer and other authorities through advocates or
any such authorized person deemed necessary by the Bank to effect endorsement of hypothecation in the registration certificate and transfer
the Vehicle when necessary.
13.5 To obtain, receive, demand or collect any form, certificates, registration books, booking order, insurance policies or other documents form
any Registering Authority, manufacturers of the said Vehicle and/or its dealers.
13.6 To take possession of the said Vehicle in case of default and for the purpose enter the premises where the said Vehicle is packed, as per
terms of the Agreement.
13.7 To transfer, sell or dispose of the said Vehicle and sign and execute all or any forms, declarations or instruments, as may be necessary or
expedient for giving effect to the delivery to the said Vehicle to the purchaser thereof.
13.8 To appoint or engage any broker, dealer or auctioneer for affecting any such transfer, sale or disposition of the said vehicle.
13.9 To sign, execute necessary forms, documents or to give notice to the appropriate Registering Authority for effecting transfer of the said
Vehicle in favour of the purchaser.
13.10 To receive the consideration of the sale, transfer, disposition or dealing of the said Vehicle and issue proper receipt or receipts to give a
valid and effectual discharge for such consideration.
13.11 To take delivery, actual possession or custody of the said Vehicle as and when demanded by the bank.
13.12 To appoint or engage any broker or other agent for taking possession or effecting delivery of the said Vehicle.
13.13 To sign and deliver or otherwise perfect the hypothecation created or to be created on the said Vehicle and to do all such acts, deeds and
things as may be required for exercise of or any the powers hereby conferred.
13.14 To sign and deliver the necessary forms that may be required to be filed or necessary with Registration Authority or other authorities under
the Motor Vehicles Act, 1988 or any other law for the time being in force to record the charge of hypothecation on the said Vehicle, created or
to be created in favour of the Bank.
13.15 To pay any fees, charges, penalties, imposts, premiums, taxes or other impositions to any Registering Authority, insurance companies or
other authorities for the said Vehicle.
13.16 To act as a facilitator and make the premium payment to any insurance company and/or insure, renew such insurance at my/our costs,
charges and expenses which shall be reimbursed by me/us to the Bank.
13.17 To obtain, receive, demand or collect any forms, certificates, registration books, booking order, insurance policies or other documents form
any Registering Authority, manufactures of the said Vehicle or its dealer/sellers.
13.18 To cancel, annul or rescind booking of one or more of the said Vehicle and to get refund of any such booking amount from the
manufacturer or its dealer by issuing receipts as valid and effectual discharge for such refund.
13.19 To fill in and complete any cheque that may be lying now or thereafter with the Bank duly signed by me, or on our behalf with such amount,
date and/or name of the payee that may be deemed fit by the Bank.
13.20 To get requisite information from my employer as may be expedient to ascertain material particulars.
13.21 In case of default by me/us of the terms and conditions of the Agreement, to transfer, sell, give on hire, dispose of, give deliver of and
otherwise howsoever deal with the said Vehicle and to sign and execute all agreements, contracts, declaration form instruments and other
writings whatsoever as may be necessary or expedient in that behalf.
13.22 To give notice, if required to the appropriate Registering Authority and/or such other authority in law, for the registration of the said Vehicle
upon the sale, transfer, disposal, deliver thereof.
13.23 To delegate all, any or more than one of the powers, authorities and liberties herein vested and to appoint any substitute to any one or
more purpose or purposes as the Bank shall from time to time desire in that behalf
13.24 For the better doing, performing and executing all the matters and things aforesaid. the borrower hereby further grant unto the said Bank
full power and authority to substitute and appoint in its place and stead on such terms as it may think fit one or more attorney/s to exercise for
me/us as my/our attorney/s any or all the powers and authorities hereby conferred, to revoke any such appointments and to substitute or
appoint any other person/s place of such attorney/s as the Bank may from time to time think fit.
And generally to do, perform and execute, all acts, deeds, matters and things relating to or concerning or touching these present as fully and
effectually as if Borrower was personally and had been done, performed or executed the same myself/ourselves.
This authority shall be binding upon me/us, the undersigned and my/our legal successors prior and post to the grant of the loan and shall be
irrevocable during the tenure of the loan as the same is coupled with interest and consideration, until all sums due and owing by me/us has been paid
to the Bank.
And Borrower hereby agree to ratify and confirm all and whatsoever the Bank shall do or cause to be done in or about the premises by virtue of these
presents.
14 Assignment and Transfer

14.1 The Bank shall have a right to sell or transfer (by way of assignment, securitization or otherwise) whole or part of the Loan and outstanding
amounts under the Loan or any other rights and obligations of the Bank under this Agreement or any other document pursuant hereto to any
person/ entity in a manner or under or under such terms and conditions as the Bank may decide in its sole discretion without reference to or
intimation to the Borrower.
14.2 The Borrower expressly agrees, in the event of sale or transfer as aforesaid, to accept such person to whom the Loan is sold or transferred
as his lender and make the repayment of the Loan to such person as may be directed by the Bank.
14.3 The Borrower shall not be entitled to directly or indirectly assign his rights or obligations under this Agreement in part or in whole to any
person.
15 Banks appointment of Agent.

The rights, powers and remedies available to the Bank under Law and under these present, shall be exercised by the Bank through any of its
employees or agent and the Bank may delegate any or all of the said powers and authorities to such employee or agent.
16 Benefit of Agreement
16.1 In case of the death of the Borrowers(s), where the Borrower(s) is an individual the legal representative shall do the following.
a) Apply under the Motor Vehicles Act, 1988 to get the Vehicle transferred in his name.
b) Replace the PDC/SI/ECS, insurance premia cheques, fees, charges and residual cheques signed by the deceased Borrower(s), in the
same manner as provided in this Agreement as if he was the Borrower(s) in the first instance.
c) Execute a fresh Agreement, Power of Attorney and such other documents as required by the Bank.
d) Provided that the Bank shall be entitled to exercise its sole discretion in determining whether or not to enter into an Agreement etc. with
the legal representative and subject to further, the legal representative meeting the Bank’s credit criteria and other requirement form time
to time.
e) In case the legal representative does not or refuses to follow the above procedure or does not meet with the Bank's credit and other
requirements the Bank shall be entitled to, at its sole discretion repossess/dispose off / sell/transfer the Vehicle to any third party or to a
third party, which the Bank shall nominate and the short fall on such recovery shall be recovered from the legal representative.
16.2 The Borrower(s) shall not assign or transfer all or any of its right, benefits and obligations hereunder except with the prior written permission
of the Bank.
16.3 The Borrower(s) expressly agrees, recognizes and accepts that the Bank shall be absolutely entitled and have full power and authority to
securities in whole or in part, and/or whether with or without the underlying security the Two wheeler Loan along with all the amounts
outstanding thereon, in such manner and on such terms the Bank may decide, irrespective of whether the Bank gives the Borrower(s) and/or
the guarantor any notice regarding the same.
17 Arbitration
All disputes, differences and / or claim or questions arising out of these presents or in any way touching or concerning the same or as to constructions,
meaning or effect thereof or as to the right, obligations and liabilities of the panes hereunder shall be referred to and settled by arbitration, to be held in
accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any statuary amendments thereof, of a sole arbitrator to be nominated
by the Lender/Bank, and in the event of death, unwilling ness, refusal, neglect, inability or in capability of a person so appointed to act as an arbitrator,
the Lender/Bank may appoint a new arbitrator to be a sole arbitrator. The arbitrator shall not be required to give any reasons for the award and the
award of the arbitrator shall be final and binding on all parties concerned. The arbitration proceedings shall be held Mumbai/ Delhi / Chennai / Kolkata.
18 Miscellaneous
18.1 Without prejudice to the Bank's other rights and remedies, the Bank shall be entitled to charge at its own discretion enhanced rates of
interests on the outstanding in the Loan accounts or a portion thereof or for any default or irregularity on lie Borrower's part which in the
opinion of the Bank warrants charging of such enhanced rates of interests for such period as the Bank may deem fit. The equated Monthly
installments will have to be paid till the entire Loan and interest is fully repaid. Further, the amount of equated monthly installment may
change/increase as may be decided by the Bank.
18.2 It is hereby agreed between the parties that the Schedule may be amended, revised, substituted by way of written communication by the
Bank to the Borrower from time to time. Such correspondences between the Bank and acceptance thereof by the Borrower shall be deemed
to be an integral part of this Agreement and shall be read in conjunction thereof.
18.3 All or any other conditions as specified in the most important information shall form an integral part of this Agreement and the most important
information shall always be read in conjunction with this Agreement at all times.
18.4 Without prejudice to any other term of this Agreement, the Parties expressly agree that any payment made by the Borrower to the Bank
under this Agreement shall be appropriated by the Bank in the following order-
a) costs, charges and expenses that the Bank may expend to service, enforce and maintain the security and therefore recover the Loan,
interest and all sums due and payable by the Borrower to the Bank under this Agreement.
b) costs, charges and expenses that the Bank may expend to service, enforce and maintain the security and therefore recover the Loan,
interest and all sums due and payable by the Borrower to the Bank under this Agreement.
c) interest;
d) principal amount of the Loan.
18.5 The parties agree that any delay or omission by the Bank in exercising any of its rights, powers or remedies as the tender of the Loan under
this Agreement and other documents pursuant hereto shall not impair the right, power or remedy or be construed as its waiver or acquiesce
by the Bank.
18.6 The Parties confirm that this Agreement and its Schedule and any other documentation pursuant to it represent one single agreement
between the Parties.
18.7 This Agreement supersedes all prior discussions and representations between the parties, including the Bank brochure, save with respect to
the obligations of and representations made by the Borrower to the Bank set forth in any correspondence, application forms or otherwise
made or agreed to be made howsoever.
18.8 Laws of India shall govern this Agreement, the security and other documentation pursuant hereto and Courts having jurisdiction where the
Branch/RAC/SRAC is situated shall have exclusive jurisdiction over all aspects governing the interpretation and enforcement of this
Agreement, the security and other documentation pursuant hereto. Nothing herein shall limit the right of the Bank to take proceedings against
the Borrower in any other Court of competent jurisdiction within India nor shall the taking of the proceedings in one or more jurisdiction
preclude the Lender from taking proceedings in any other jurisdiction within India, whether concurrently or not.
18.9 The addresses of the parties shall be as mentioned under the Schedule. The Borrower shall forthwith inform the Bank of any change in his
Address.
18.10 I understand that the circular DBR.No.BP.BC.45/21.04.048/2018-19 dated June 7, 2019 on 'Prudential Framework for Resolution of
Stressed Assets' requires the lenders to recognize incipient stress in borrower accounts, immediately on default, by classifying them as
special mention accounts (SMA). Accordingly, the date of SMA/NPA shall reflect the asset classification status of my loan account at the day-
end of that calendar date. An illustration of such classification is as follows:
I / We Confirm having read and understood the text contained in the above
mentioned pages of this agreement.
SMA 0 - If due date of a loan account is March 31, 2021, and full dues are not received on this date, the account shall be SMA 0 on day end
of March 31, 2021.
SMA 1 - If it continues to remain overdue, then this account shall get tagged as SMA-1 upon completion of 30 days of being continuously
overdue i.e. April 30, 2021.
SMA 2 - If the account continues to remain overdue, it shall get tagged as SMA-2 on May 30, 2021.
NPA - If the account continues to remain overdue further, it shall get classified as NPA on June 29, 2021.
18.11 Any notice or request required or permitted under this Agreement to be given by either party to the other shall be only in writing and sent on
the address of the other Party as mentioned in the Schedule (or in case to the Borrower, on the address of the Borrower last known to the
Bank):
a) If given by the Bank, may be given by personal delivery, fax or by post and shall be deemed to have been served upon or received by the
Borrower, if given by personal delivery, when so delivered and if by post on expiration of 3 days after the same has been delivered to the
post office for onward transmission to the Borrower under certificate of posting; and
b) If given by the Borrower to the Bank when it is actually received by the Bank.
18.12 The Fair Practice Code for the Lenders as published on the Axis Bank’s website, shall apply to the Loan, Copy of the Fair Practice Code for
lenders as available on the Bank’s website
https://www.axisbank.com/docs/default-source/default-document-library/fair-practice-code-for-lenders.pdf
19 CIC Disclosure Clause

19.1 The Borrower also agrees, undertakes and confirms as under: The Borrower understands that as a precondition relating to the grant of and
/or continuing the grant of Credit Facility to the Borrower, the Bank requires the Borrower's consent for the disclosure by the Bank of,
information and data relating to the Borrower, of the Credit Facility availed of / to be availed by the Borrower, in discharge thereof.
Accordingly, the Borrower hereby agrees and gives consent for the disclosure by Bank of all or any such:
a) Information and data relating to the Borrower;
b) The information of data relating to its Credit Facility availed of / to be availed by the Borrower md
c) Default, if any, committed by the Borrower, in discharge of the Borrower's such obligation;
d) as the Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Limited ["CIC"] and any
other agency authorised in this behalf by Reserve Bank of India ["RBI"].
The Borrower declares that the information and data furnished by the Borrower to the Bank are true and correct.
19.2 The Borrower also undertakes that:

a) CIC and any other agency so authorized may use, process the said information and data disclosed by the Bank in the manner as deemed
fit by them; and
b) CIC and any other agency so authorised may furnish for consideration, the processed information and data disclosed or products thereof
prepared by them, to Bank(s)/ Financial Institution(s) and other Credit Grantors or Registered Users as may be specified by the RBI in
this behalf.
19.3 The Borrower hereby gives specific consent to the Bank/Lender for disclosing / submitting the ‘financial information' as defined in Section 3
(13 ) of the Insolvency and Bankruptcy Code, 2016 ( ‘Code' for brief ) read with the relevant Regulations/ Rules framed under the Code, as
amended and in force from time to time and as specified there under from time to time, in respect of the Credit/ Financial facilities availed
from the Bank/ Lender, from time to time, to any ‘Information Utility' ( ‘IU' for brief ) as defined in Section 3 ( 21 ) of the Code, in accordance
with the relevant Regulations framed under the Code, and directions issued by Reserve Bank of India to the banks from time to time and
hereby specifically agree to promptly authenticate the ‘financial information submitted by the Bank/Lender, as and when requested by the
concerned ‘IU'
20 The extant Foreclosure and Part-Payment Charges will be applicable once the borrower ceases to be an Axis Bank Employee
21 The Bank shall share the preprinted copy of the above agreement terms and conditions with the customer along with the welcome kit The parties
hereto have executed/ caused to be executed these presents on the day and year written h the Schedule hereinafter appearing.
Name of Borrower(s) Datta Audumbar Gaikwad (Sign.) X
Name of Co-Borrower(s) (Sign.) X
“(in the case of HUF/Partnership name of all the member/ Partners required if unless Letter of authorization is there.) Affix Common Seal of the
Company.
For the Bank
Signed and
delivered by Axis
Bank Ltd. by the
hand
of i/s authorised signatory : Mr./Ms.
SCHEDULE TO LOAN CUM HYPOTHECATION AGREEMENT
Date of Agreement: Place of Execution:
D D M M Y Y
Branch/RAC/SRAC Address :
Name of the Borrower(s)/ Co-Borrower(s)

(in the case of HUF/Partnership Name of all Datta Audumbar Gaikwad
the member/ Partners required)
(First Name) (Middle Name) (Surname)
Address(es) of Borrower(s)/Co-Borrower(s) Kuran Vasti, Chale TAL PANDHARPUR

(In case of non-individual address should be Kuran Vasti
registered address/as per constitutional
document)
Tel.: 9665703025 Tel.:

udaysinhgaikwad9665@gmail.
E-Mail : com E-Mail :
Facility: Rupees: (In Figures) Rs. 87383
Eighty Seven Thousand Three Hundred And
Rupees: (In Words): Eighty Three
Tenor in Months 36
Interest Rate (For loans with tenor upto 36 months) - 1 Year MCLR _____% p.a.+ Spread _____% p.a.
“Effective Rate of interest _____% p.a. ”, No Reset
(For loans with tenor > 36 months) - “Effective Rate of interest _____% p.a.
Cheque/Instrument return Charges Rs. 339/- + GST per cheque return
Cheque/Instrument swapping charges Rs. 500/- + GST
Loan Cancellation/Re-booking charges Rs. 550/- + GST
ROC Charge creation fees (Only for Rs. 2500
company cases)
Statement Charges Rs. 250/- + GST
Duplicate Repayment Schedule Charges Rs. 250/- + GST
Duplicate No Dues Certificates/NOC Rs. 50/- + GST
Charges
Foreclosure Charges
Service Charge/Processing Fee Rs. 3058
Documentation Charges Rs. 750/-
PDD Collection Charges Rs. 200
GST
Stamp Duty As applicable according to State Stamp Law.
Issuance of Credit Report 50/- + GST
Borrower X Co-borrower X
Repayment Terms Repayable according to the Tenor by monthly Equated Monthly
Installment (EMI) as stated below.
EMI Amount EMI Amount Rs.
(Number)
(Number)
(Number)
EMI Payment Dates
Post Dated Cheques Number of PDCs:
(PDCs) Cheque Numbers:
Standing Instruction (SI) Account Number:
SI Number and Date:
Electronic Clearing System (ECS)
Disbursement By direct single payment/part payment in favour of <<>>
Details of Vehicle Vehicle 1 Vehicle 2 Vehicle 3 Vehicle 4
Reg. No.
Reg. Date
Chassis No.
Engine No
Model Shine
Mfg. Date
Make Drum
Manufacturer HONDA
Supplier/Agency
Insured Amount
Premium Payable
Signed and Delivered by the within borrower/s, this Schedule to Loan cum Hypothecation Agreement on the date herein above mentioned.
Name of Borrower (s) Datta Audumbar Gaikwad Sign (X)

Name of Co-Borrower (s)* Sign (X)
*(in the case of HUF/Partnership, name of all the member/partners are required if authority not given to one person to execute agreement)
Affix Common Seal of the Company.
DISBURSEMENT REQUEST FORM
To Date:
Manager Place:
Axis Bank Ltd
Sub: Request for Disbursement of my vehicle loan (APP ID )
I/We have been sanctioned a Loan of Rs. 87383 Rupees(in words)

Eighty Seven Thousand Three Hundred And Eighty Three ) by your bank for purchase of
Vehicle. I/We Request you to kindly disburse the amount from my Loan amount as mentioned below:
Kindly tick if disbursement through INF A/c.
1. Details For disbursement through lNF Ac/RTGS-NEFT/INTERNAL TRANSFER: (Mark as NA if not applicable)
Particulars INF A/C /TA A/C RTGS/NEFT/I.T RTGS/NEFT/I.T
Beneficiary Name
Bank Name
Bank A/c No
IFSC Code - In Capital letters
Disbursement Amount (in Rs.)
2. Details for Disbursement through “Demand Draft” : (Mark as NA if not applicable)

Sr DD favouring Disb Amt (in Rs.)
No.
3. Insurance (Mark NA if not applicable)

Title Sr No. Particulars Amount (in Rs.)
Life Insurance 1
2
General Insurance 1
2
GPS Tracker Device 1
2
I/We also request you to kindly deduct my EMI on of every month

I/We are aware that I/We need to pay PRE-EMI for the broken period* even if my loan is fully disbursed.
Information to Borrowers:
a) Interest on loan shall commence from the disbursement INF Ac/DD/Internal Transfer/RTGS-NEFT date.
b) Disbursement demand draft is to be collected within a day of disbursement DD date, however subject to clearance of pending documents.
Yours faithfully,
Applicant Co-applicant
*Broken period: from date of disbursement till the EMI cycle date.
STANDING INSTRUCTION REQUEST
Date:
From
Datta Audumbar Gaikwad
Kuran Vasti, Chale TAL
PANDHARPUR
Kuran Vasti
To
AXIS Bank Ltd.,
Ref: Execution of Standing
Instruction
Dear Sir,
This is in reference to the loan of INR
87383 (Rupees (in words)
Eighty Seven Thousand Three Hundred And Eighty Three ) sanctioned to me by Retail
Assets Center, . My loan account No. is
and Customer ID is
I,therefore, request you to please accept this authorizing mandate to debit my Axis Bank savings account Number
from on due date towards the recovery of repayment of dues/EMI,
over the entire tenure of loan, as per the terms and conditions of loan agreement schedule or as per the revised instructions in line with the Bank’s policy.
Borrower(s) I agree(s) to keep bank account (details of which the Borrower(s)I has/have submitted to the Bank for setting up the Standing Instruction
/NACH Mandate to recover the EMI/Instalment) adequately funded at least one day prior to the repayment/EMI due date. Borrower(s) understand(s) and
agree(s) that if the Borrower(s) fail(s) to fund the bank account as aforesaid and the Standing Instruction/NACH Mandate fails to be honoured on the
repayment/EMI due date, Bank shall be at liberty to levy applicable charges as per the Loan Agreement in addition to the other rights available to the
Bank under this Loan Agreement and applicable law/regulatory guidelines
Please treat this as an irrevocable communication as an authorization to debit the said savings bank account every month with the amount due towards
the repayment of my loan. In the event of above account getting closed / transferred for any reason, I/We will intimate to the Bank the new account
opened with the bank to debit the loan repayment amount/s. Further, I/We also undertake to submit afresh set of mandate in regards to the same.
I also understand and accept that the Bank will have the right to set-off, without prior intimation to me, the available balances in the designated account
for recovery of overdue installments and/or charges (if any) in the loan account.
Thanking you,
Signature and account number verified
Yours faithfully,
For Axis Bank Ltd
Name:
Datta Audumbar Gaikwad Employee Id:
Customer Name (accounts holder/s): Signature:

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POWER DRIVE - TWO WHEELER LOAN DOCUMENTATION

LOAN ACCOUNT NO:

AMOUNT SANCTIONED Rs. 87383

Vehicle Manufacturing and Model HONDA Shine Drum

I/We acknowledge that:

Vehicle Manufacturing and Model HONDA Shine Drum

I/We acknowledge that:

1 Definitions and Interpretation

2 Bank's Agreement to lend and Borrower's Agreement to borrow

6 Covenants for Price of the Vehicle

Signature of Borrower(s) and co-borrower(s)

9 Borrower’s Representations, Warranties, Covenants and Undertakings.

Sr. no. Name of Director(s)/Senior Officer(s) Designation Relationship

11 Insurance and Maintenance

12 (A) Events of default.

Signature of Borrower(s) and co-borrower(s)

13 Appointment of the Bank as the Borrower’s Attorney

Signature of Borrower(s) and co-borrower(s)

14 Assignment and Transfer

15 Banks appointment of Agent.

Signature of Borrower(s) and co-borrower(s)

19 CIC Disclosure Clause

19.2 The Borrower also undertakes that:

Name of Borrower(s) Datta Audumbar Gaikwad (Sign.) X

Name of Co-Borrower(s) (Sign.) X

For the Bank

Name of the Borrower(s)/ Co-Borrower(s)

(First Name) (Middle Name) (Surname)

(First Name) (Middle Name) (Surname)

Address(es) of Borrower(s)/Co-Borrower(s) Kuran Vasti, Chale TAL PANDHARPUR

Tel.: 9665703025 Tel.:

Name of Borrower (s) Datta Audumbar Gaikwad Sign (X)

Sub: Request for Disbursement of my vehicle loan (APP ID )

I/We have been sanctioned a Loan of Rs. 87383 Rupees(in words)

Kindly tick if disbursement through INF A/c.

2. Details for Disbursement through “Demand Draft” : (Mark as NA if not applicable)

3. Insurance (Mark NA if not applicable)

I/We also request you to kindly deduct my EMI on of every month

Signature and account number verified

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