PARTNERSHIP AUTHORITY LETTER FOR BORROWINGS BY THE FIRM

ON THE LETTERHEAD OF THE FIRM

Ref No: Date:

To,
Kotak Mahindra Bank Ltd.
27 BKC, C 27, G Block,
Bandra Kurla Complex,
Bandra (East) Mumbai 400 051

Ref: Credit Facility/ies sanctioned by the Bank.

We hereby inform/confirm to you that, the persons whose full names and addresses are set out in
“Schedule-I” hereunder, are the present partners (hereinafter referred to as the ‘Partners’) of
__________________________________, a partnership firm registered under the Indian Partnership
1932 by a deed of partnership dated ______________ and carry on the business at
___________________________________________________________________________________
( hereinafter referred to as the “ Firm”) as set out hereunder.

On the request of the Firm, the Bank has vide sanction letter dated ____________, granted certain
credit facility/ies to the Firm, the details of which are specified in Schedule-II hereunder written,
hereunder, owned and belonging to the Firm.

1. All the Partners of the Firm confirm, state and declare that they individually and jointly have the power
and authority :
a) To borrow, avail the credit facility/ies from the Bank;
b) To offer as security, the Firm’s properties;
c) To execute all documents/instruments including promissory notes, bills of exchange, demand draft,
facility/security documents etc.
d) To accept and consent to the E-platform/digitized platform of the Bank or of /through any vendor/s
appointed by the Bank for accepting terms and conditions relating to the guarantee, executing and,
transacting guarantee/security documents, e-stamping data storage etc.
e) To execute, sign either physically or electronically or digitally by using Aadhaar or OTP or
Biometric based authentication or USB token based DSC or any other electronic form, all
documents/instruments including promissory notes, bills of exchange, demand draft,
facility/security documents etc.
f) To receive and/or send any communication from and to the Bank /third party vendors/agents etc.
appointed by the Bank, whether by way of an SMS, Email etc. on the personal numbers/email id(s)
of the authorised partners and/or on the registered mobile numbers/email id(s) of the firm with the
bank and/or on the mobile numbers/email id(s) of the authorised partners/firm provided as
 annexure to this letter to the bank and the same shall be treated as valid and binding upon all
us/the firm.
g) To receive any communication from the Bank/third party vendors/agents etc. appointed by the
Bank, whether by way of an SMS, Email etc. on the personal numbers/email id(s) and/or on the
registered mobile numbers/email id(s) of the firm with the bank and/or on the mobile
numbers/email id(s) of the authorised partners/firm provided as annexure to this letter to the bank.

2. All the Partners of the Firm confirm, state and declare that the partner/s mentioned in Schedule-III,
is/are hereby authorized for and on behalf of the Firm, to accept and acknowledge the sanction letters
issued by the Bank from time to time and the terms and conditions therein specified, to execute, , sign
either physically or electronically or digitally by using Aadhaar or OTP or Biometric based authentication
or USB token based DSC or any other electronic form the facility agreements, security documents etc.
and to accept all terms and conditions of the sanction letter or facility/security documents etc. and such
other document(s) as may be required by the Bank from time to time and to do such acts, deeds and
things, for the purpose of availing credit facility/ies/in connection with the said credit facilities from time to
time.

3. All the Partners for and behalf of themselves individually in their capacity as partners and on behalf of
the Firm, hereby authorize the partner/s, specified in Schedule III, namely _______________ to do the
following acts, deeds and things:

a) To avail credit facilities as specified in Schedule II, below, and to execute necessary agreements,
facility/security documents, applications, forms, deeds and documents for availing such credit
facility/ies as may be required by the Bank from time to time.

b) To sign promissory notes, or indemnity and all other documents required by the Bank in connection
with such credit facility/ies.
c) to open bank account, to sign and issue in the Firm’s name cheques, promissory notes or other
documents relating to any operation of the account of the Firm, and that the Bank is entitled to act
upon the faith of any cheque, promissory note or other documents so signed in the Firm’s name.
d) To offer /make timely repayment of the dues due to the Bank.
e) To draw, accept, sign, endorse, negotiate and deliver on behalf of the Firm, bills of exchange so
issued by the firm/ to the firm by various parties.
f) To request any restructuring/rescheduling/enhancement/renewal of the credit facility/ies.
g) To accept and consent to the E-platform/digitised platform of the Bank or of /through any vendor/s
appointed by the Bank for accepting terms and conditions relating to the facility, executing and,
transacting facility/security documents, e-stamping data storage etc.
h) To execute, sign either physically or electronically or digitally by using Aadhaar or OTP or Biometric
based authentication or USB token based DSC or any other electronic form, all
documents/instruments including promissory notes, bills of exchange, demand draft, facility/security
documents etc.
 i) To receive and/or send any communication from and to the Bank /third party vendors/agents etc.
appointed by the Bank, whether by way of an SMS, Email etc. on the personal mobile
numbers/email id(s) of the authorised partners and/or on the registered mobile numbers/email id(s)
of the firm with the bank and/or on the mobile numbers/email id(s) of the authorised partners/firm
provided as annexure to this letter to the bank and the same shall be treated as valid and binding
upon all us/the firm.

4. Without prejudice to what is stated above, we agree accept and confirm that:
a) Notwithstanding anything contained in any agreement of partnership, any credit facility/ies
availed by any of the Partners on behalf of the Firm pursuant to the Partnership Letter given to
you shall be deemed to have been so made/executed and all instruments/documents so
made/executed and or accepted by the firm, on behalf of the Firm.
b) Authority given herein shall stand in full force, notwithstanding that any current cash credit or
overdraft account of the firm be balanced or closed or reopened at any time or from time to time.
c) Any communication/correspondence from the Authorised Partner/s, shall be treated as
communication/correspondence for and on behalf of and under the authority of all the partners
and the Bank will be fully entitled to act upon the same and same shall be binding on all of us.
d) Any Communication received and/or sent from and to the Bank /third party vendors/agents etc.
appointed by the Bank, whether by way of an SMS, Email etc. on the personal mobile
numbers/email id(s) of the partners including the authorised partners and/or on the registered
mobile numbers/email id(s) of the firm with the bank and/or on the mobile numbers/email id(s) of
the authorised partners/firm provided as annexure to this letter to the bank shall be treated as
valid and binding upon all us/the firm.
e) The documents accepted and/or executed on the E-platform/digitised platform, shall be valid
and binding upon us and can be relied upon and used by the bank as a proper form of evidence
and we/the firm undertakes not to raise any dispute or question as regards the terms and
conditions accepted thereon and as regards the documents executed on the electronic/digitised
platform.
f) The Bank shall be at liberty to treat the personal cell number/email id, communicated by the
authorised signatories or provided as annexure to this letter or last on record of the bank as
valid and permitted cell number /email id for communication.
g) That disbursement of the loan amount into the account of the firm would imply consent and
authority of the firm, to avail the loan and to abide by all terms and conditions of
sanction/facility/security documents and the same shall be valid and binding upon each and
every partner of the firm and no dispute shall be raised as regards the authority of the
authorized partners or otherwise in respect of the documents executed in favour of the Bank.
h) By entering the OTP and providing the fingerprint impression (Biometric KYC) of the authorized
partners, it shall be imply consent and be treated as a voluntarily consent of the firm/authorized
partners, to validate the PAN no and use the Aadhaar details, for Aadhaar (Biometric
authentication and we hereby authorize Kotak Mahindra Bank, to fetch our/the firms personal
details from NSDL and for UIDAI respectively.
 i) We are hereby authorizing Kotak Mahindra Bank, to use our/ the firms including all its partners
Aadhaar details and core biometric information to authenticate and verify our/firm identity. We
are also consenting to execution and stamping of documents through the E-platform/digitized
platform. We all partners shall be jointly and severally liable for all acts deeds and things both in
our individual capacity and in our capacity as Partners of the Firm.
j) The authorized partners are authorized to authenticate/ esign/affix digital signature for the
purposes of ratifying/certifying the letter of authority on any E-platform/digitized platform as may
be desired by the bank.
k) That the bank shall be at liberty to rely on the scan copy of the letter of authority and the same
shall be valid and binding upon the firm.
l) The authority granted to the authorized partners herein shall be treated as authority by all the
partners and the Bank can place reliance on the same without any further verification or
reference to us.
m) In the event of any change occurring in the said firm by resignation, retirement, death, expulsion
or insolvency of any partner or the dissolution of the firm, written notice thereof shall be forthwith
given to the Bank at its Satellite Branch. Pending receipt of such notice as aforesaid, the Bank
shall be entitled to treat such partner or his representative or his estate as the case may be, as
being a partner, to the intent that such partner or his representative, his estate is liable jointly
and severally with the other partners for all indebtedness or obligations of the firm incurred after
such retirement, resignation, death or expulsion, insolvency or dissolution of the firm till the date
of the said notice in addition to any liability which he may have incurred as a partner to the Bank
prior to such resignation, retirement, death, or expulsion, insolvency or dissolution of the firm
notwithstanding that but for the present provision such partner or his estate might not be liable
after such resignation, retirement, expulsion or death or insolvency or dissolution or by reason of
any statutory provision.
n) Subsequent to the sanctioning/availing of credit facilities by the Firm, in the event of any
partner/s being inducted into the firm, we undertake to inform the Bank of any such induction.
We further confirm that we the said partner/s shall be bound by all the terms and conditions of
the sanction and other documents executed by the Firm in favour of the Bank from time to time
and shall be liable for all the indebtedness to the Bank.

SCHEDULE-I
NAME AND ADDRESS OF ALL PARTNERS
Name Address of the all Partner/s
SCHEDULE-II
Place of execution AHMEDABAD
Amount of the Financial/credit Facility
Nature of credit facility
Date of the sanction letter

SCHEDULE-III
NAME AND ADDRESS OF THE AUTHORISED PARTNERS
Sr. Name and address of the Signature
No. Authorised Partner/s

Yours faithfully,

For M/s.
Sr. No Name of the all Partner/s Signature of the partner /s
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* PLEASE NOTE ALL PARTNER SHOULD SIGN WITH THE SEAL OF THE FIRM AFFIXED AND ON THE
LETTER HEAD OF THE FIRM