Document Id: 63c15423c97f1f33b132140d Client Id: 63c153ca40c0eb583c9d1954

PRIVATE AND CONFIDENTIAL

AGRI-SME/202223/08074/01 06th January 2023

Borrower:
M/s Shree Sai Agro Industries
Address: Plot no. V - 22, MIDC Area
Jalgaon – 425 003 (M.S)

Correspondence Address
Plot No. D – 56/1, MIDC Area,
Jalgaon – 425003 (M.S)

Kind Attention: Mr. Sachin Naginchand Chordiya

Dear Sir,
Banking Facilities

We Kotak Mahindra Bank Ltd. having its registered office at 27BKC, C 27, G Block, Bandra Kurla
Complex, Bandra (E), Mumbai – 400051 (herein after referred to as “the Bank” or “KMBL”), are
pleased to inform M/s Shree Sai Agro Industries (hereinafter referred to as “the Borrower”) that
pursuant to the request the below mentioned facility(s) have been renewed further up to 31st
December 2023.

(INR in Lakhs)
Sch Nature of Facility
Existing Limits Revised Limits
No Facilities Review Date
1 Working Capital Limit 250.00 250.00
1.1 OD 150.00 150.00 31.12.2023
1.1 Seasonal OD 100.00 100.00 NA
Total Funded /Exposure 250.00 250.00
Notes: Current Bank K-EBLR i.e. RPRR is 6.25%

Additional Conditions:
Renewal
Processing Fee Type Period Rate PF PF GST Total
(months) Applicable Amount Amount
Facility
Amount
Renewal 11** 0.15% 2,50,00,000/- 34,375/- 6,187.50/- 40,562.50/-
Fees Months
(Current
Year)
Renewal 12 0.15% 2,50,00,000/- 37,500/- 6,750/- 44,250/-
Fees Months
(Next
Year)

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Document Id: 63c15423c97f1f33b132140d Client Id: 63c153ca40c0eb583c9d1954

**Renewal fees for current year is drafted only for 11 months

and the renewal date is 15th Feb 2023. Hence now collected from
Feb 2023 to till next renewal date i.e., Dec 2023.

GSTIN Number of the borrower: 27ABDFS0285R1ZJ

Taxes as Applicable shall be debited, in addition to the fees
amount

The Renewal Fees shall be collected every year on the renewal due date by debiting
the account of the borrower / shall be deducted from the disbursement proceeds
GST or any applicable taxes shall be varying as per the rates on the date of debit

Standard As per MFA and / or the schedule of charges mentioned in bank’s website as per link:
Penalties & https://www.kotak.com/en/business/working-capital/agri-business/fees-and-
Charges charges.html
External Bench Repo
Mark
Valuation NA
Charges
Legal Charges NA
Rate of Interest Rate of Interest:
Applicable RPRR + 3.25 (Spread) p.a.

Applicable RPRR prevailing on the first disbursement under each Facility (whether
partial or full) plus spread shall be the Rate of Interest for that Facility until next Reset
Date.

As on date, the Rate of Interest offered is 9.15% p.a. consisting of Applicable EBLR rate
[RPRR] @ 5.90% p.a. and the spread @ 3.25% p.a.

Applicable RPRR as on date for the firm is: 5.90% p.a.

Next Reset Date: 16 January 2023
Current RPRR: 6.25% p.a.

The Revised RPRR will be effective from the date of reset.

The Interest shall be debited to from the account of the Borrower with the Bank on
effective monthly basis.
Reset Date First Reset Date: The External Benchmark rate of the loans/facility will be first reset
on the 16th day of the second calendar month, excluding the month of disbursement.

Illustratively the external benchmark rate of a Loan/facility availed between, 1st to

31st October, shall be reset on the 16th of December. So also the external benchmark
rate of Loan/facility availed between 1st to 30th November, shall be reset on the 16th
of January and so on and so forth.

Subsequent Reset Date /s: The external benchmark rate will subsequently be reset on
the 16th day of 3rd month, which is immediately succeeding, the previous reset dates.

Illustratively, the external Benchmark rate of the loan which was reset on 16th

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Document Id: 63c15423c97f1f33b132140d Client Id: 63c153ca40c0eb583c9d1954

December, shall be reset again on 16th March and thereafter on June 16th and so on
(till the loan is live). So also the external Benchmark rate of the loan which was reset on
16th January will be reset on 16th April and thereafter on July 16th and so on (till the
loan is live).
Other 1. In order to comply with the directions issued by Reserve Bank of India it is agreed
Conditions between the parties that notwithstanding anything contrary contained either in
the Facility / Security Agreements or their schedules or any other letter,
agreement with respect to the rate of interest, its calculation/ methodology of
computation and all the terms relating to the rate of interest, the rate of interest
computation methodology mentioned in the Sanction Letter shall apply and such
terms shall prevail over the interest rate clauses wherever they are mentioned in
the Facility / Security Agreements or any other letter, agreement without any
further act or deed between the Parties. Accordingly wherever Prime Lending
Rate / Bench mark Rate / Base Rate / Reference Rate is mentioned the same be
substituted and be read and understood as Applicable MCLR herein specified.
2. The Bank shall be entitled to vary / change the rate of interest (including any
change as may be directed by Reserve Bank of India and / or any other regulatory
/ statutory body) from time to time or method of computation of such rate of
interest or to charge an additional or penal rate and send to the Borrower an
intimation in that regard. Upon intimation of such change / variation in the
interest rates Borrower shall be deemed to have consented to such change /
variation. The Borrower agrees / undertakes to pay interest at the rates as may be
revised from time to time.
Insurance 1. Insurance of the collateral security, inventory and fixed assets, as the case may
Conditions be, is mandatory. In the event of non-compliance or under-insurance of the
Collateral Security, inventory or fixed assets, the Bank, reserves its right to
insure the securities and get the insurance policy endorsed solely in the name
of the Bank as sole/ one loss payee. Borrower shall reimburse to the Bank on
demand all premium, charges and expenses as may be incurred for such
insurance by the Bank or the Bank may debit the Borrower’s account with the
Bank.
2. Borrower shall obtain a Credit Linked insurance Policy on new or enhanced
facilities, on the life of the key person/s of the business/firm/company etc., at
their/its own expense and shall assign the policy to the Bank as the sole loss
payee in the said policy, to cover mortality risk on the person key to the
business/firm/company etc. The policy so obtained has to be kept live and
available during the tenor of the facilities.
Rate increase Any failure and/or breach on the Borrower's/Guarantor/s part to perform any of the
tools obligations under the terms or conditions of any of the documents including
Transaction Documents as defined in Master Facilities Agreement executed in favour
of the Bank and/or any failure and/or breach on Borrower's/Guarantor/s part to
perform any of the obligations under the terms or conditions of this facility
letter/sanction letter shall result into upward revision of the existing applicable Rate of
Interest (ROI) as the Bank may deem fit, subject to a minimum upward revision of 2%
on the existing applicable ROI.

Further the occurrence of any of the below mentioned events shall also result in to
upward revision of the existing applicable Rate of interest (ROI) as the Bank may deem
fit, subject to a minimum upward revision of 2% on the existing applicable ROI.

Any upward revision of the existing applicable Rate of interest (ROI) shall be in

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addition to the charges/penalty which shall applicable as per the Schedule of

Charges/Penalty for the said failure and/or breach;
1. Failure to repay any debt/interest servicing within the stipulated period for two
consecutive months
2. Non submission of post disbursal documents on the due dates.
3. Diversion of Funds as may be observed by the bank during review
4. Any reduction in capital in business from the last sanction
5. Funding availed from other banks/Fis without written intimation to the bank
6. Credit churning in account falling below 30% of the limits in two consecutive
months
7. Average utilization in account falling below 50% of the limits in two consecutive
months
8. Utilization of limit of 100% or more for two consecutive months
9. Change of Constitution of the Borrower or Change in Partners or Directors
Specific 1. End use certificate to be provided on borrowers’ letterhead to ops team before
Conditions renewal. (To be monitored by ops team).
2. Revaluation of mortgage properties & technical vetting thereon, to be done on
or before 18th Feb 2025 for Industrial Self occupied property and 28th Jan 2025
for Industrial Leasehold Property. (Ops/RCAD to create PDD).
3. Collateral insurance of constructed properties to be provided to CMT team
within 15 days of renewal. (Ops/RCAD to create PDD)

All charges / fees and any other amounts payable under this facility/facilities by the Borrower to
the Bank as mentioned herein do not include any applicable taxes, levies etc. and all such
impositions shall be borne by the Borrower additionally. All stamp duty and documentation
fees/charges etc. in respect of the facilities shall be borne by the Borrower. Without prejudice to any
arrangement or writing whatsoever, all costs, charges, expenses etc., payable in respect of the
creation of Security, either by the Borrower or any other Security Provider shall be borne and paid
by the Borrower and the Bank shall be entitled to debit the account of the Borrower for such
amounts.

The bank reserves the right to increase the interest rate applicable on the eligible/availed financial
facilities, including increasing the interest spread, in the event of downgrade in Borrower’s internal
or external rating.

Please note that this Letter forms an integral part of the Master Facility/Loan/Facility Agreement.
It is clarified that the Bank shall be entitled to vary any of the Facilities sanctioned, by issue of such
further letters (by whatever name called)to the Borrower as the Bank may deem fit. Such further
letter(s) issued by the Bank modifying the Facility / Facilities shall be considered to be a part of this
Letter and any reference to the Letter shall be deemed to be a reference to such further letter(s) also.
Also, may it be noted that in the event of there being a conflict between this Letter and the Master
Facility Loan/Facility Agreement due to duplication and/or repetition of terms and conditions,
then as far as such duplicated and/or repeated term/s and condition/s is concerned, this Letter
shall prevail over the Master Facility/Loan/Facility Agreement.

Further it may be noted that Interest shall be charged on the outstanding(s) in the accounts opened
in respect of the Facilities at such rate(s) as may be determined by the Bank from time to time at the
Bank's sole discretion provided that the rate(s) shall be subject to changes in the Bank's Benchmark
Prime Lending Rate/ Bank’s Base Rate and/or changes in interest rates prescribed by the Reserve
Bank of India from time to time and the rate shall be read as “the Bank's Benchmark Prime Lending

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Rate/ Bank’s Base Rate” where ever the rate is identified as “Bank's Benchmark Prime Lending
Rate” in the Master Facility/Loan/Facility Agreement & Other related documents.

This letter shall form part of the Master facility/Loan/Facility agreement(s) and other related
documents, that have already been executed earlier and the same shall remain valid and in full
force.

Save and provided as hereinabove, all other terms and conditions as per our earlier sanction letter
dated RCAD/AF/18659/2015-16 dated 03rd November 2015 and AF/56177/2016-17 dated 30th
Nov, 2016 and AF/SME/AB08311944/2017-18 dated 6th December 2017,
AF/SME/AB11109767/2018-19 Dated 3rd January 2019, AF/SME/AB14469644/2019-20 dated 19th
Nov 2019 and AGRI-SME/202021/03798 dated 21st Jan 2021 and AGRI-SME/202122/11284/01
dated 16th Feb 2022 and all the documents executed pursuant thereto shall continue to apply and be
binding upon the Borrower & Guarantors, Mortgagors and shall continue to remain valid and in
full force.

In confirmation of your agreement to be bound by the conditions stipulated herein please return
the duplicate copy of this letter duly signed by Authorized Signatory of your firm to the Bank at 4th
Floor, Zone III, Nyati Unitree, Pune – Ahmednagar Road, Yerwada, Pune 411006 within 90 days
from the date of this letter, after which this offer will lapse.

All correspondences to the Bank shall be addressed to:-

Customer service number (toll free):18602665700

Email id: [email protected]

We assure you of our best services at all times.

Warm regards,

For Kotak Mahindra Bank Limited,

__________________ ______________
Authorized Signatory Authorized Signatory

I/We hereby acknowledge receipt of your letter no. AGRI-SME/202223/08074/01 dated 06th January
2023 of which this is a copy.

We accept and agree to be bound by the terms and conditions contained therein.

I/ we hereby, for self and/or as the authorized signatory of the partnership

firm/LLP/company/proprietorship ( as the case may be), accept and provide consent to a. 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 sanction/renewal/grant/enhancement/modification of
the financial facilities ( both funded and non-funded) and/or executing, transacting loan and security
documents including guarantee, e-stamping data storage etc. b. to execute, sign either physically or
electronically or digitally by using Aadhar or OTP or Biometric based authentication or USB token
based DSC or any other electronic form, all documents/instruments including, facility/security

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documents etc.,

Further I/ we hereby, for self and/or as the authorized signatory of the partnership
firm/LLP/company/proprietorship ( as the case may be), irrevocably agree, consent and accept that
the sanction letter/facility letter/renewal letter/any document accepted and/or executed on the E-
platform/digitized platform, shall be valid and binding upon me/partnership
firm/LLP/company/proprietorship ( as the case may be) and can be relied upon and used by the
Bank as a proper form of evidence and the undertake not to raise any dispute or question as regards
the terms and conditions accepted thereon and as regards the sanction letter/facility letter/renewal
letter/any document executed on the electronic/digitized platform.

For,
M/s Shree Sai Agro Industries

__________
(Borrower)

Place(as per execution co-ordinates) Date (as per execution date)

Annexure A
Clarification on Identification of Special Mention Accounts (SMA) / Non Performing Asset (NPA)

In case of i. If due date of a loan account is March 31, 2021, and full dues are not received by
Term Loans Kotak Mahindra Bank Limited ( Bank) before day-end of March 31, 2021, the
account will be considered as overdue with reference to due date and will be
tagged as SMA 0. If the account continues to remain overdue and all dues are not
regularised by April 30, 2021 , then the account gets tagged as SMA-1 as on April
30, 2021 i.e. upon completion of 30 days of being continuously overdue. If the
account continues to remain overdue, account gets tagged as SMA-2 as of May
30, 2021 and if continues to remain overdue further, accounts gets classified as
NPA at day end on June 29, 2021.

* The date(s) mentioned hereinabove are for illustrative purpose only.

In case of i. In a CC or OD or DLOD account, if outstanding balance remains continuously in

Cash Credit excess of the sanctioned limit or drawing power, whichever is lower, for a period
(CC)/ of more than 30 days -say from March 31, 2021, the account gets tagged as SMA 1
Overdraft as of April 30, 2021 i.e. upon completion of 30 days of being continuously in
(OD)/ excess. If the account continues to be remain continuously in excess, the account
Dropline gets tagged as SMA-2 on May 30, 2021. If the account continues to remain in

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Clarification on Identification of Special Mention Accounts (SMA) / Non Performing Asset (NPA)

Overdraft excess, account gets classified as NPA at day end of June 29, 2021.
(DLOD)
Account(s) ii. In addition to (i) above, a CC or OD or DLOD account may get classified as NPA
if outstanding balance in the account is less than the sanctioned limit/drawing
power but there are no credits continuously for 90 days or the outstanding
balance in the CC/OD account is less than the sanctioned limit/drawing power
but credits are not enough to cover the interest debited during the previous 90
days period.

For example , if there are no credits continuously for 90 days say from March 31,
2021 to June 29, 2021 or credits are not enough to cover the interest debits
between March 31, 2021 to June 29, 2021 , the account gets classified as NPA as of
June 29, 2021 at day end.

* The date(s) mentioned hereinabove are for illustrative purpose only.

Please take note that Special Mention Accounts (SMA) / Non Performing Asset (NPA) reporting is done at
Borrower level as per the applicable regulatory guidelines and thus, overdue in any one account of the
Borrower will result in reporting of the Borrower as SMA or NPA as the case may be.

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