LOAN AGREEMENT

THIS LOAN AGREEMENT (“Agreement”) (this Agreement which expression shall unless excluded by or repugnant to the subject or context thereof,
include the schedule(s) hereto and all amendments made from time to time) executed, at the place and on the day, month and year set out herein below, by

GAGAN CHAWALA, Son of Madan Lal, aged 34 years, Indian resident, having PAN No. ALGPC7552A, having its place of business at 23/2, Kacha
Bazar, Ambala Cantt, Ambala G.P, Ambala, HARYANA - 133001 and residing at 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P, Ambala,
HARYANA - 133001; (hereinafter referred to as “Borrower”, which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean
and include their heirs, executors, administrators and permitted assigns) of the FIRST PART;

In favour of

M/s. Lendingkart Finance Limited (Formerly Aadri Infin Limited), a company incorporated under the Companies Act, 1956 and a non-banking financial
company within the meaning of the Reserve Bank of India Act, 1934 and having its registered office at No. 004, Ground Floor, Midas, Sahar Plaza Complex,
Andheri – Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra and having its corporate office at The First, 14th Floor, First Avenue, Besides
Keshavbaug Party Plot, Vastrapur, Ahmedabad – 380015, represented herein by its authorized representative, hereinafter referred to as the “Lender", (which
expression shall unless excluded by or repugnant to the subject or context, be deemed to include its successors-in-interest and assigns) of the SECOND
PART.

The Borrower and the Lender shall be referred individually as “Party” and collectively as “Parties”.

WHEREAS

A. The Borrower has approached the Lender for availing financial assistance to meet the working capital requirements for the Purpose of the business of the
Borrower (as more particularly specified in Schedule-I, attached hereto) and the Lender, relying upon the representations and warranties made by the
Borrower, has agreed to advance an aggregate loan facility as more particularly specified in Schedule-I (“Loan”), on the terms and condition mentioned in
the Sanction Letter, this Agreement and other Loan Documents.
B. Based on the aforesaid representations, the Lender has agreed to provide the Loan to the Borrower for the said Purpose and on the terms and conditions set
out herein below

NOW THEREFORE THE PARTIES HERETO AGREE AS FOLLOWS:

1. DEFINITIONS
In this Agreement, unless the context otherwise so requires, the following expressions shall have the meanings as set out against each of it:
1.1 “Agreement” shall mean this Loan Agreement.
1.2 “Business Day” shall mean a day (excluding Saturdays and Sundays) on which banks generally are open in Ahmedabad for the transaction of
normal banking business.
1.3 “Loan Documents” shall mean and include this Agreement, the sanction letter, personal guarantee(s), if any, demand promissory note and all or
any other agreements, instruments, undertakings, deeds, writings and other documents executed or entered into, or to be executed or to be entered
into by the Parties in pursuance thereof and as may be amended from time to time.
1.4 “Law” shall mean and include all applicable statutes, enactments, ordinances, rules, regulations, bye-laws, notifications, guidelines, policies,
directives and orders of any statutory authority, government, court, tribunal, board, or any other concerned authority as may be applicable from time
to time, in India including any re-enactment, thereof.
1.5 “Purpose” means the purpose(s) for which the Loan has been availed by/granted to the Borrower from/by the Lender based on the representations
of the Borrower, which is more particularly set out in Schedule I.

2. INTERPRETATION
2.1 Any reference to a statutory provision shall include such provision as may be from time to time modified or re-enacted any regulations made in
pursuance thereof whether before or after the date of this Agreement so far as such modification or re-enactment applies or is capable of applying to
any transactions entered prior to completion and (so far as liability there under may exist or arise) shall include also any past statutory provision or
regulations (as from time to time modified or re-enacted) which such provision or regulations have directly or indirectly replaced.

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2.2 Unless the context requires otherwise, words denoting the singular shall include the plural and vice versa.
2.3 Reference to a gender shall include the female, male and neutral genders.
2.4 References to “Recital”, “Clause” and “Sub-Clause”, are to be construed as references to recitals and clauses to this Agreement.
2.5 The Recitals and Schedules set out herein shall constitute an integral part of this Agreement.
2.6 The terms “include” and “including” shall mean include “without limitation”.
2.7 References to any agreement or document including this Agreement shall include such agreement or document as amended or replaced from time to
time.
2.8 All approvals or permissions required from the Lender for any matter in respect of this Agreement shall mean and refer to the “prior written”
approval or permission of the Lender.
2.9 The headings, titles to Clauses and paragraphs in this Agreement are for convenience purposes only and shall be ignored in construing the same.
2.10 In case of any conflict between the terms of this Agreement and the Schedule-I, the terms of the Schedule-I would prevail.

3. LOAN AMOUNT
3.1 The Lender hereby agrees to lend and advance to the Borrower and the Borrower hereby agrees to borrow from the Lender an amount mentioned in
the Schedule-I, subject to the terms and conditions mentioned in this Agreement and the other Loan Documents.
3.2 It is specifically agreed that the Loan provided by the Lender to the Borrower shall be utilized by the Borrower only for the Purpose as set out herein
and shall not be used for any other purpose of any nature whatsoever including payment of any outstanding loan, debts, penalties, claims due to any
other person without the prior approval of the Lender.

4. DISBURSEMENT OF LOAN
4.1 Disbursements under the Loan shall be made by the Lender on a specific request made by the Borrower in the bank account, details are provided in
Schedule I, only after execution of this Agreement and other Loan Documents as the Parties may deem fit from time to time.

5. INTEREST/CHARGES/FEES
5.1 The Borrower shall pay interest as specified in the Sanction Letter, by way of instalments, as per the Repayment Schedule provided by the Lender.
5.2 Notwithstanding anything stated to the contrary herein, the Lender shall be entitled to increase/decrease the rate of interest after giving prior written
notice to the Borrower, subject to such increase/decrease not being contrary to the directives, if any, issued by the Reserve Bank of India from time
to time/prevailing applicable Law.
5.3 The Borrower shall pay processing fee along with the setup fee in respect of the Loan amount mentioned in Schedule-I, the Lender shall deduct the
said amount as requested by the Borrower from the loan amount at the time of disbursement. Also, the Borrower shall be liable for the payment of
any applicable Goods and Service Tax (GST) in relation to the Loan into the designated bank account of Lender.
5.4 In the event of rescheduling in the Repayment Schedule, the Borrower shall be liable to pay rescheduling charges at the rate of 0.1 percent of the loan
amount per day to the Lender. Such payment of rescheduling charges shall be made by the Borrower to the Lender if and when advised by the
Lender. The payment of rescheduling charges is in addition to any other right of the Lender in the event of default or otherwise.
5.5 Notwithstanding anything contained in this Agreement, in the event of the Borrower committing a default in the payment of any sum due hereunder,
or the Borrower committing any breach or default of any other condition of this Agreement and/or other Loan Documents, the Borrower shall pay, by
way of liquidated damages, charges at the rate mentioned in Schedule-I, from the date of default till the date of payment of such dues. The Borrower
expressly agrees that the rescheduling charges/late payment charges is a fair estimate of the loss likely to be suffered by the Lender by reason of such
delay/default on the part of the Borrower.

6. OTHER TERMS
6.1 The Lender shall, at all times, have the complete right to share the credit information relating to the Borrower, as it may deem appropriate, with
Credit Information Bureau (India) limited (“CIBIL”) or any other institution as approved by Reserve Bank of India (“RBI”) from time to time.
6.2 The Borrower shall provide the Lender access to its CIBIL Credit Information Report or any other records with CIBIL on a regular basis or at such
times as may be requested by the Lender.
6.3 In an event of default/delay by the Borrower in repayment of the Loan including that of any interest/ fee/ charges, by or on due date, the Lender shall,
have an unfettered right to disclose and/or publish the name of the Borrower as defaulters on its website in such manner and through such other
medium (including social media) as the Lender or CIBIL in their absolute discretion, may think fit.

7. REPAYMENT

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7.1 The Borrower shall ensure to repay the Loan within the communicated time from the date of receipt of the Loan (hereinafter referred to as the “
Repayment Amount”) as per the Repayment details set forth in Schedule I.
7.2 The mode of payment of the Repayment Amount shall be Electronic Clearance Service/Standing Instruction or any other mode as prescribed by
Lender and mentioned in Schedule-I.
7.3 The Lender agrees that the Borrower shall have the option to pre-pay to the Lender the outstanding Repayment Amount after obtaining the consent
of the Lender in writing and on such terms and conditions as may be prescribed by the Lender.
7.4 Without prejudice the remedies under applicable Law, in the event of any delay in the payment of any instalment of the Repayment Amount, the
Lender shall have the absolute authority to deduct the instalment amount or a partial withdrawal from the bank account of the Borrower using the
NACH (National Automated Clearing House) or any other facility, without seeking any consent of the Borrower. The Borrower acknowledges and
agrees that the covenant contained in this Clause is absolutely necessary for the Lender to secure repayment of the Repayment Amount and that the
Lender would not proceed with the grant of the Loan contemplated herein but for the Borrower’s covenant hereunder to secure the repayment of the
Repayment Amount.

8. LOAN DOCUMENTS
8.1 The Borrower shall arrange to provide personal guarantee(s) of N/A to the Lender for the Loan amount in relation to this Agreement. In the event of
default of any obligation by the Borrower, the Personal Guarantors shall be jointly and severally liable for the repayment of the Loan amount in
accordance to the terms and conditions in this Agreement and the Loan Documents. The format of the “Personal Guarantee” is set forth in Schedule
II attached hereto.
8.2 The Borrower shall provide an “Undertaking” to the Lender which is set forth is Schedule III – Part A attached hereto.
8.3 The Borrower shall provide a demand promissory note, the format of which is set forth as Schedule III – Part B attached hereto (“Demand
Promissory Note”), undertaking unconditionally to pay on demand of the Lender the Loan amount together with interest thereon at the rate of interest
mentioned in Schedule-I.
8.4 The Borrower shall provide Post Dated Cheque (“PDCs”) to the Lender to enable the repayment of the Loan and other dues. An acknowledgement
towards the receipt of PDCs is set forth in Schedule III – Part C attached hereto.

9. DISBURSEMENT CONDITION
The obligation of the Lender to make the disbursement under the Loan shall be subject to the performance by the Borrower of all itsundertakings to
be performed under this Agreement, other Loan Documents and to the Lender’s satisfaction thereof, prior to the makingof such disbursement.

10. OBLIGATIONS OF THE BORROWER

10.1 The Loan provided to the Borrower shall be used by the Borrower solely for the Purpose and shall not be used for payment of any outstanding loan,
debts, penalties, and claims due to any other person.
10.2 During the term of this Agreement and until the obligations of the Borrower have been fulfilled to the satisfaction of the Lender, the Borrower
undertakes to notify the Lender of any fact, matter or circumstance which would cause adverse effect on the Loan or result in breach of
representations and warranties of the Borrower.
10.3 The Borrower shall forthwith notify the Lender, as soon as it becomes aware, of any notice, legal proceedings, notice for winding up or any such
threatened action instituted against the Borrower which may have adverse effect on the Lender or the performance of this Agreement.
10.4 The Borrower agrees to furnish to the Lender all such information as the Lender may require from time to time and also to submit necessary financial
data and/or statements on a timely basis or as required by the Lender.
10.5 The Borrower confirms to ensure that sufficient funds are available in the account to which the said PDCs relate to, enable the Lender to present the
same and recover the Loan and other dues, if any.
10.6 The Borrower confirms that till the Loan or any part thereof (including principal and interest as the case may be) is outstanding, the Borrower shall
not start a new firm or a new stream of business without taking prior permission of the Lender.
10.7 The Borrower shall provide contact details of two references, as set out in Schedule-I, whom the Lender may contact prior to disbursement of loan
and/or in the event of a default by the Borrower and/or if the Borrower is not reachable.

11. REPRESENTATIONS AND WARRANTIES OF THE PARTIES:

Each Party represents and warrants that:
11.1 It has the power to execute and perform this Agreement and has obtained all necessary consents and authorizations to enable it to do so.
11.2 This Agreement constitutes a valid and binding obligation enforceable against each Party in accordance with the terms stated herein.

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11.3 This Agreement does not conflict with or result in a breach of any obligation or constitute or result in any default under any provision of its
constitution or any material provision of any agreement, deed, writ, order, judgment, law, rule or regulation to which it is a party or is subject to or
by which it is bound.
11.4 It is duly organized, validly existing and has the requisite power and authority to carry on its business as now conducted.

12. EVENT OF DEFAULT

12.1 On the occurrence of any of the events specified below, the Lender shall be entitled, without prejudice to any other right or remedy which the Lender
may have under this Agreement or otherwise in Law and notwithstanding any subsequent acceptance of any repayment instalments/interest, to take
the steps specified herein below, without any notice, except as specified herein, at any time after the occurrence of such event:
(i) If the Borrower fails to pay any monies payable hereunder on the dates and in the manner stipulated in this Agreement, whether demanded
or not;
(ii) If the Borrower fails to perform or commits or allows to be committed a material breach of any of the terms and conditions of this
Agreement (other than failure to pay any sum hereunder when due and payable) and/or other Loan Documents;
(iii) Any information given by/on behalf of the Borrower relating to the Purpose of the Loan, being incorrect or misleading, or a representation
or warranty made hereunder or in connection with any other Loan Documents by the Borrower being incorrect or misleading in any respect;
(iv) If any action is taken against the Borrower by any person/authority for its liquidation/ insolvency/ bankruptcy, or if a receiver is appointed of
the whole or part of the assets, properties or undertaking of the Borrower; or if the Borrower compounds with or enters into any composition
with its creditors;
(v) The Borrower is unable to or has admitted in writing its inability to pay any of its indebtedness as they mature or when due;
12.2 On the happening of any of the Events of Default, the Lender shall give a written notice to Borrower to rectify the default within a period of 15
(fifteen) days. In case the Borrower fails to rectify the default within the aforesaid stipulated period then Lender shall have the right, by a notice in
writing to the Borrower, without prejudice to the rights and claims under this Agreement to terminate this Agreement and/or declare the principal of
and all interest on and all other amounts in respect of the Loan to become due and payable forthwith.

13. TERM AND TERMINATION

This Agreement shall be effective from the Effective Date (Agreement date) and shall continue till the repayment of the Loan and the obligations of
the Parties to this Agreement to the satisfaction of the Lender unless terminated by the Lender.

14. INDEMNITY
14.1 The Borrower hereby agrees to indemnify and hold harmless the Lender and its directors, officers, agents, employees, and counsels from and against
any and all costs, expenses, direct or indirect claims, liabilities, demands and/or claims whatsoever, including any third party claims for damages
incurred as a consequence of occurrence of an event of default, breach of Loan Documents or acts of omission and commission on the part of the
Borrower, or otherwise on account of the Loan.
14.2 The Borrower has also provided an Undertaking cum Indemnity in respect of facsimile and/or email as set forth in Schedule III – Part A attached
hereto.

15. DISPUTE RESOLUTION MECHANISM

Any dispute, difference, controversy or claim (“Dispute”) arising between the Parties out of or in relation to or in connection with this Agreement
and other Loan Documents, of the breach, termination, effect, validity, interpretation or application of this Agreement or as to their rights, duties or
liabilities thereunder, or as to any act, matter or thing arising out of, consequent to or in connection with this Agreement, shall be settled by the
Parties by mutual negotiations and agreement. If, for any reason, such Dispute cannot be resolved amicably by the Parties, the same shall then be
referred to and settled by way of arbitration proceedings in accordance with the Arbitration and Conciliation Act, 1996 or any subsequent enactment
or amendment thereto (the “Arbitration Act”). A sole Arbitrator shall be appointed and such Arbitrator shall be appointed by the Lender. The
decision of the Arbitrators shall be final and binding upon the Parties. The venue of arbitration proceedings shall be Ahmedabad. The language of the
arbitration and the award shall be English. This Agreement shall be construed in accordance with the law of India.

16. GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with laws of Republic of India and the courts in Ahmedabad, Gujarat, India shall
have exclusive jurisdiction in relation to all matters arising out of this Agreement.

17. MISCELLANEOUS

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17.1 Notices: Any notice pursuant to this Agreement shall be in writing and either delivered personally, sent by certified or registered mail, sent by a
recognized courier or sent by electronic mail, with acknowledgment due.
17.2 Vernacular Language: The contents of this Agreement and the Loan Documents to be executed by the Borrower has been explained to the Borrower
in the vernacular language or such other language as understood by the Borrower.
17.3 Cost: The Borrower shall incur all the collection/ remittance/ other charges in relation to obtaining the Loan under this Agreement.
17.4 Stamp duty, documentation, and insurance charges: The stamp duty, documentation, and actual insurance charges in connection with this Agreement
shall be borne by the Borrower.
17.5 Relationship: Nothing in this Agreement shall be deemed to constitute a partnership, joint venture, agency or employment relationship between the
Parties hereto. No Party shall have the authority to bind or make any representation or commitment on behalf of the other Party. It is specifically
agreed between the Parties that their specific rights and obligations in respect of their business relationship and understanding inter-se shall be
governed in accordance with the provisions of this Agreement.
17.6 Entire Agreement: This Agreement constitutes the entire agreement between the Parties in relation to its subject matter and supersedes all prior
agreements and understandings whether oral or written with respect to such subject matter and no variation of this Agreement shall be effective
unless reduced into writing and signed by or on behalf of each Party.
17.7 Severability: If any provision of this Agreement or part thereof is rendered void, illegal or unenforceable in any respect under any law, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. In such case, the Parties shall forthwith
enter into good faith negotiations to amend the provisions rendered void, illegal or enforceable in such a way that, as an amended provision, it is
valid and legal and to the maximum extent possible carries out the original intent of the Parties as reflected herein with respect to the matter in
question.
17.8 All remedies of either Party under this Agreement whether provided herein or conferred by Applicable Law are cumulative and not alternative, they
may be enforced successively or concurrently and are in addition to any other rights and remedies the Parties may have at law or in equity, including
a right for damages.
17.9 Assignment: This Agreement, including without limitation, any of the rights, duties and obligations hereunder, may not assigned, in whole or in part,
by the Borrower without the prior written consent of the Lender.
17.10 Further Assurance: Each of the Parties hereto shall cooperate with the other and execute and deliver to the other such instruments and documents and
take such other actions as may be reasonably requested from time to time in order to carry out evidence and confirm their rights and the intended
propose of this Agreement.
17.11 Waiver: No delay in exercising or omission to exercise any right, power or remedy accruing to either Party under this Agreement shall impair any
such right, power or remedy or be constructed to be waiver or acquiescence thereof, nor shall action or inaction of acquiescence by either Party in
any such default, affect or impair any right, power or remedy of the either Party, in respect of any such default.
17.12 Confidentiality: The Parties shall, at all times, keep confidential and maintain confidentiality of all data and client information of each Party shared
with the other Party in respect of this Agreement and other Loan Documents. All such data and confidential client information shall not be disclosed
or divulged to any third party without the consent of the concerned Party.
17.13 Counterparts: This Agreement is being prepared in counterparts and each of the counterparts so executed shall be deemed to be original but
constitute one agreement and be binding on the Parties as if they had executed the same document.

THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATE AND PLACE STATED HEREIN BELOW:

For Lendingkart Finance Limited (formerly Aadri Infin Limited) GAGAN CHAWALA

____________________________________ ____________________________________
Authorised Signatory Borrower

Place: Ahmedabad, Gujarat

Date: 29th April, 2019

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 Schedule I

A-Details of Borrower

Name of Borrower GAGAN CHAWALA

Address of Borrower (where notice is to be sent to) 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P,Ambala,HARYANA - 133001

Residential Address 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P,Ambala, HARYANA,133001

Contact No. 9991223786

Email id. gaganchawla786@yahoo.com

Nature of Business -

B-Details of Nature of loan/amount/interest/repayment, etc.

Nature of Loan/Purpose Working Capital Finance for meeting working capital expenditure of business of the Borrower

Amount Rs. 70,000.00/- (Rupees Seventy Thousand and Zero paise Only)

Nature of Security Unsecured Loan

Rate of Interest 1.60% (One point Six Zero percent) Flat per month.

Stamp duty, documentation charges, processing Rs. 4,661/- (Rupees Four Thousand Six Hundred Sixty One Only).
and set up fee (including GST)

Insurance Premium Amount (Including GST) Rs. 999.00/-

Repayment details Repayment by 36 equal MONTHLY instalments of Rs. 3,064.

Primary Repayment Mode NACH / Post Dated Cheques / NEFT

Secondary Repayment Mode N/A .

Total Interest Payable Total interest payable over the complete tenure of loan is Rs. 40,320/-.

Delay Charges Rs. 300 for each overdue instalment of loan amount and applicable taxes thereon

Penal Interest 0.1% per day on the overdue loan amount

Bank Charges Penalty levied by the Bank on the Lender on dishonouring of cheque(s) issued by the Borrower and/or the
Co-borrower. Waived for this cycle.

Stamp Duty and documentation charges The stamp duty and documentation charges in connection with this Agreement shall be borne by the
Borrower

Approvals required Borrower needs to take Lender’s prior written approval before incurring further debt / loan / financing /
encumbrances from any other lender

C-Bank Account details for the purpose of crediting loan amount

Bank’s Account Name GAGAN CHAWALA

Account Number 049801517430

Bank Name ICICI BANK

Bank Account Type Saving Account

Branch AMBALA CANTT

IFSC Code ICIC0000498

D-Bank Account details of the Borrower

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Bank’s Account Name GAGAN CHAWALA

Account Number 049801517430

Bank Name ICICI BANK

Bank Account Type Saving Account

Branch AMBALA CANTT

IFSC Code ICIC0000498

E-Details of Guarantors /References

Name of Reference – 1 Vijay chawla

Address of Reference – 1 29 j palam vihar Ambala Cantt, haryana

Contact No. 9215702166

Email.id. vijaychawla2166@gmail.com

Name of Reference – 2 HARISH ji

Address of Reference – 2 Ambala Cantt, haryana

Contact No. 9255992178

Email.id. -

For Lendingkart Finance Limited (formerly Aadri Infin Limited) GAGAN CHAWALA

____________________________________ ____________________________________
Authorised Signatory Borrower

Place: Ahmedabad, Gujarat

Date: 29th April, 2019

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 Schedule II
Personal Guarantee Deed
This PERSONAL GUARANTEE (“Personal Guarantee/ Personal Guarantee Deed”) executed at N/A on N/A by:
N/A
(hereinafter referred to as the “Guarantor”, which expression shall, unless it is repugnant to the subject or context thereof, include their legal heirs, executors,
administrators and permitted assigns).

IN FAVOUR OF:
Lendingkart Finance Limited (formerly Aadri Infin Limited), a Company incorporated under the Companies Act, 1956 and a non-banking financial
company within the meaning of the Reserve Bank of India Act, 1934 and having its registered office at No. 004, Ground Floor, Midas, Sahar plaza Complex,
Andheri – Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra and having its corporate office at The First, 14th Floor, First Avenue, Besides
Keshavbaug Party Plot, Vastrapur, Ahmedabad – 380015, represented herein by its authorized representative (hereinafter referred to as the “Lender", which
expression shall unless excluded by or repugnant to the subject or context, be deemed to include its successors-in-interest and assigns).

WHEREAS the Lender and the Guarantor shall individually be referred as “Party” and collectively as “Parties”.

WHEREAS GAGAN CHAWALA (hereinafter referred to as “Borrower” which expression shall, unless it be repugnant to the subject or context thereof,
include its successors and permitted assigns) has requested the Lender to provide a working capital loan of Rs. 70,000.00/- (Rupees Seventy Thousand and
Zero paise Only), for meeting the working capital requirements of his business, at 1.60% (One point Six Zero percent) Flat per month (hereinafter
referred to as “Loan”)
(a) The Lender has agreed to provide the Loan for the Purpose and on the terms and conditions of the Loan Agreement dated 29th April, 2019 ("Loan
Agreement”) entered into between the Lender and the Borrower.
(b) In this reference, the Guarantor have agreed to provide a Personal Guarantee guaranteeing the repayment of the entire Loan on such terms and
conditions as set forth herein.
(c) That for the purpose hereof, the Guarantor unconditionally and irrevocably agrees and undertakes to provide the present Personal Guarantee to the
Lender to make payment on behalf of the Borrower in the event of any default on the part of the Borrower in payment of any part of the Loan
(hereinafter referred to as the “Guarantee”).
(d) That the Guarantor further undertakes that he/she is solvent and financially capable to discharge his/her Guarantee obligations.
This Personal Guarantee Deed has been executed on the terms and conditions as set out herein below:

TERMS AND CONDITIONS OF THE PRESENT PERSONAL GUARANTEE: -

1. The Guarantor hereby irrevocably and unconditionally guarantees the due repayment to the Lender forthwith on the Lender’s first demand, without
demur or protest any or all amounts due and payable by the Borrower to the Lender under the Loan Agreement and all interests, charges, expenses
and all other moneys whatsoever, due and payable by the Borrower to the Lender (the “Guaranteed Amounts”), to the satisfaction of the Lender, in
the event of failure on the part of the Borrower in repaying the same to the Lender or otherwise upon occurrence of an event of default under the
Loan Agreement.

2. The obligations hereunder are independent of the obligations of the Borrower. The Guarantor shall, without prejudice to the other provisions
contained in this Personal Guarantee Deed, as primary obligor and principal debtor to the Lender, and not merely as surety, on a full indemnity basis,
indemnify the Lender, for any reason whatsoever irrespective of whether such reason or any related fact or circumstance was known or ought to have
been known to the Lender or any of its officers, employees, agents or advisers. The Liability of the Guarantor shall be joint and several with the
Borrower.

3. The Lender’s decision shall be final and binding on the Guarantor in respect of all matters concerning the Guaranteed Amounts and this Personal
Guarantee Deed. Neither the obligations of the Guarantor contained herein, nor any other rights, powers and remedies conferred in respect of the
Guarantor upon the Lender shall be adversely affected as to their enforceability by:
3.1 any amendment or variation in the terms of the Loan Agreement or any time, any composition or compounding, or forgiveness or other indulgence
granted to the Borrower in relation to the Loan Agreement;
3.2 invalidity or unenforceability on any grounds in or of the terms of any of the documents pertaining to the Loan Agreement;
3.3 any dispute or disagreement whatsoever under or in relation to the Loan Agreement whether between the Lender and the Borrower;the absence or
deficiency of powers on the part of the Guarantor to give this Personal Guarantee Deed or any irregularity in the exercise of such powers;

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3.4 the absence or deficiency of powers on the part of the Guarantor to give this Personal Guarantee Deed or any irregularity in the exercise of such
powers;
3.5 any forbearance or delay on the part of the Lender in asserting any of its/their rights against the Borrower in relation to the Loan Agreement.

4. Representations, Warranties and Covenants

4.1 Representations and Warranties
The Guarantor hereby represents and warranties to and undertakes with the Lender on a continuing basis that:
4.1.1 the Guarantor has done all acts, conditions and things required to be done, fulfilled or performed, and all authorizations, consents and approvals
(whether legal, regulatory, corporate or otherwise) required or essential for the execution and delivery of this Personal Guarantee Deed or for the
performance of the Guarantor’s obligations in terms of and under this Personal Guarantee Deed have been done, fulfilled, obtained, effected and
performed and are in full force and effect and all conditions of each such authorization, consent and approval have been complied with and no such
authorization and/or consent and/or approval has been, or is threatened to be, revoked or cancelled;
4.1.2 the Guarantor fully and absolutely is empowered and authorised and has the competence to execute this Personal Guarantee Deed and all related
documents;
4.1.3 this Personal Guarantee Deed and all related documents are or when executed, will constitute valid and binding obligations of the Guarantor and be
enforceable in accordance with their respective terms;
4.1.4 by executing this Personal Guarantee Deed or any related documents, the Guarantor will not violate any:
(i) covenant or condition under any existing agreement entered into by the Guarantor with any third party;
(ii) provision of any decree of any competent authority;
(iii) applicable law;
4.1.5 no action, suit, proceeding or investigation is pending or, to the best of the knowledge of the Guarantor, is threatened by or against the Guarantor,
before any court of law or Government or other competent authority that may have a material effect on the financial and other affairs of the
Guarantor, or, that may affect the validity, enforceability or performance of this Personal Guarantee Deed or any of its provision;
4.1.6 the Guarantor will promptly inform the Lender about any litigation, dispute or proceeding or arbitration or any action pending or threatened against
the Guarantor or any of his/her assets;
4.1.7 the Guarantor has not received any commission, brokerage or fees or any other consideration directly or indirectly from the Borrower for
guaranteeing the Loan granted/to be granted to the Borrower by the Lender; and
4.1.8 any admission or acknowledgement in writing given or any part payment made by the Borrower in respect of the Loan Agreement shall be binding
on the Guarantor and shall be treated as given on behalf of the Guarantor also.

4.2 Covenants
4.2.1 The Guarantor hereby agrees to indemnify the Lender and keep the Lender indemnified and save harmless at all times from and against any and all
costs, fees, charges or expenses that may or may have to be incurred by the Lender as a result of breach of any of the representations/warranties
/undertakings/ covenants set out hereunder.
4.2.2 The Guarantor further agrees, undertakes and covenants that this Personal Guarantee Deed shall be irrevocable and shall remain in force till the
Guaranteed Amounts/all the amounts due and payable to the Lender by the Borrower in respect of the Loan Agreement are paid in full inclusive of
interest and other charges payable by the Borrower in respect of the Loan Agreement.
4.2.3 The Guarantor further agrees, undertakes and covenants that this Personal Guarantee Deed shall be in force even though the claim of the Lender for
the amounts due from the Borrower gets time barred and the Lender cannot recover the same from the Borrower by filing a suit or any legal
proceeding against the Borrower.
4.2.4 The Guarantor further undertakes and covenants that the Guarantor is competent to contract and that there is no impediment to its capacity to enter
into contracts with the Lender. If the Borrower shall be found not to be liable to the Lender in law for the Loan granted by the Lender to the
Borrower by reason of Borrower’s incapacity to borrow or to contract or for any other reason, the Guarantor shall nevertheless be liable to indemnify
the Lender and to pay the Lender the Guaranteed Amounts and all the sums that would have been otherwise recoverable by the Lender from the
Borrower.

5. The Guarantor hereby indemnifies the Lender and agrees to keep the Lender indemnified and save harmless at all times while the Loan is
outstanding, due and payable by the Borrower, against all actions, proceedings, claims and demands, duties, penalties, taxes, losses, damages, cost
(including legal costs), charges and expenses and other liabilities whatsoever claimed against or sustained or incurred by the Lender by reason of
having granted continued/agreed to grant the Loan to the Borrower.

Page 9 of 15
6. This Personal Guarantee Deed shall remain in full force and effect until the Borrower are fully discharged by the Lender of all the liabilities under
the Loan Agreement and until the Borrower has got the discharge confirmed in writing by the Lender.

7. Manner of Demand
7.1 Any demand made by the Lender upon the Guarantor pursuant to a Demand Certificate, shall be conclusive evidence that:
(a) the Guarantor’s liability hereunder has accrued; and
(b) the extent of the Guarantor’s liability is the amount shown in such Demand Certificate.
7.2 The Demand Certificate shall be conclusive evidence against the Guarantor of the amount for the time being due to the Lender from the Borrower in
any action or proceeding brought on this Personal Guarantee Deed against the Guarantor.
7.3 Any demand made under this Personal Guarantee Deed shall be deemed to have been duly given to the Guarantor by the Lender, by sending the
Demand Certificate by post, addressed to the Guarantor at the Guarantor’s place of business/address of residence and shall be effectual
notwithstanding:
(i) any change in this address; and
(ii) notice of such change in address being provided to the Lender.Any demand shall be deemed to have been received by the Guarantor twenty-four
hours after it has been dispatched by post and shall be sufficient if signed by any officer of the Lender.

8. Assignment
8.1 The Guarantor shall not transfer or assign any of its rights or liabilities under this Personal Guarantee Deed to any person without the prior written
consent of the Lender.
8.2 The Guarantor agrees that notwithstanding anything to the contrary contained in any document executed under/in relation tothisPersonal Guarantee
Deed, the Lender shall have the right to assign and/or transfer and/or novate and/or otherwise securitiseits rights or obligations or any part thereof
under this Personal Guarantee Deed and/or the outstanding amounts and/or enterinto indemnity or other arrangements for risk sharing, whether with
or without recourse to the Lender, to one or more Lenders orany other entity, trust, any association, without any reference or notice to the Borrower.
The Guarantor shall not, however, claimany privity of contract with any such entity to whom the outstanding amounts and/or the rights or obligations
under this PersonalGuarantee Deed have been assigned/transferred/securitised or the Lender has entered into indemnity or other arrangements forrisk
sharing.

9. The Guarantor hereby authorises and permits the Lender and any officer of the Lender to disclose any customer information inrelation to the
Guarantor or any other information whatsoever in relation to the Guarantor and/or any agreement or documententered into by the Guarantor or any
other person in relation to the Loan Agreement as the Lender shall consider appropriate forany such commercial, funding or business purpose as the
Lender thinks fit to.

10. If any provision of this Personal Guarantee Deed becomes invalid, illegal or unenforceable in any respect under any applicable law, the validity,
legality and enforceability of the remaining provisions shall not be affected or impaired in any way.

11. The Guarantor makes the representation, warranty, confirmation and undertaking on continuous basis that the Guarantor has not been identified as a
willful defaulter as per guidelines issued by Reserve Bank of India. The Guarantor further represents and covenants that he/she shall not commit or
omit any act which is/shall be in contradiction or in violation of the RBI Guidelines on willful defaulter.

12. Any dispute, difference, controversy or claim (“Dispute”) arising between the Parties out of or in relation to or in connection with this Agreement
and/or other Loan Documents, of the breach, termination, effect, validity, interpretation or application of this Agreement or as to their rights, duties
or liabilities thereunder, or as to any act, matter or thing arising out of, consequent to or in connection with this Agreement, shall be settled by the
Parties by mutual negotiations and agreement. If, for any reason, such Dispute cannot be resolved amicably by the Parties, the same shall then be
referred to and settled by way of arbitration proceedings in accordance with the Arbitration and Conciliation Act, 1996 or any subsequent enactment
or amendment thereto (the “Arbitration Act”). A sole Arbitrator shall be appointed and such Arbitrator shall be appointed by the Lender. The
decision of the Arbitrator shall be final and binding upon the Parties. The venue of arbitration proceedings shall be Ahmedabad. The language of the
arbitration and the award shall be English. This Agreement shall be construed in accordance with the law of India.

13. This Personal Guarantee Deed shall be governed by and construed in accordance with laws of Republic of India and the courts in Ahmedabad,
Gujarat, India shall have exclusive jurisdiction in relation to all matters arising out of this Personal Guarantee Deed.

Page 10 of 15
IN WITNESS WHEREOF THE PARTY HAS EXECUTED THIS DOCUMENT ON THE DATE STATED HEREINABOVE.

N/A Witness:

________________________
Guarantor

Page 11 of 15
 Schedule III

Part A – Undertaking

Date: 29th April, 2019

I, GAGAN CHAWALA, Son of Madan Lal, Residing at 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P,Ambala, HARYANA - 133001, having PAN
No. ALGPC7552A, (“Borrower”), state and undertake as below.

That the Borrower avails Loan of an amount of Rs. 70,000.00/- (Rupees Seventy Thousand and Zero paise Only) @ 1.60% (One point Six Zero percent)
Flat per month (“Loan”) from Lendingkart Finance Limited (formerly Aadri Infin Limited), registered under the Companies Act, 1956 and a non-banking
financial company within the meaning of the Reserve Bank of India Act, 1934 having its registered office at No. 004, Ground Floor, Midas, Sahar Plaza
Complex, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra and having its corporate office at The First, 14th Floor, First Avenue,
Besides Keshavbaug Party Plot, Vastrapur, Ahmedabad – 380015, (hereinafter referred to as the “Lender”), on such terms and conditions as mentioned in the
Loan Agreement dated 29th April, 2019 (“Loan Agreement”) executed between the Lender and the Borrower. That the said Loan will be availed by the
Borrower for the execution of the Purpose as described in detail in the Loan Agreement.

That based on the obligations arising upon the Borrower, I, the Borrower do hereby confirm, assure, declare and irrevocably undertake:

(i) That the Loan provided by the Lender shall be senior to all other debt exposures of the Borrower with respect to the Purpose and that the same shall
not be utilized for settling any other present or future loan/repay any investment and/or making any investment in the capital of any other company or
other entity, and/or to be utilised for any purpose other than the purposed permitted under the Loan Agreement dated 29th April, 2019.
(ii) That nothing in any existing agreement/tie-up/contract executed by the Borrower with any third party effect and/or put any restriction on the rights and
/or obligations on the Borrower under the Loan Documents proposed to be executed with Lender;
(iii) That the Borrower has no outstanding dues towards the statutory liabilities.

The capitalized terms used in this Undertaking shall have the meaning ascribed to them under the Loan Agreement and that the undertakings, declarations,
confirmations and statements contained hereunder the undertaking shall be binding on the Borrower at all times.

GAGAN CHAWALA

____________________________________________
Borrower

Page 12 of 15
Date: 29th April, 2019

Lendingkart Finance Limited,

The First, 14th Floor,
First Avenue, Besides Keshavbaug Party Plot,
Vastrapur, Ahmedabad – 380015
India

Sub.: Undertaking cum Indemnity – in respect of facsimile and/or email instruction

I, GAGAN CHAWALA, Son of Madan Lal, aged 34 years, residing at 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P, Ambala, HARYANA, 133001,
having PAN No. ALGPC7552A (hereinafter referred as “Borrower”) execute this Undertaking cum Indemnity in favour of Lendingkart Finance Limited
(formerly Aadri Infin Limited), registered under the Companies Act, 1956 and a non-banking financial company within the meaning of the Reserve Bank of
India Act, 1934 and having its registered office at No. 004, Ground Floor, Midas, Sahar Plaza Complex, Andheri – Kurla Road, Andheri (East), Mumbai –
400 059, Maharashtra and having its corporate office at The First, 14th Floor, First Avenue, Besides Keshavbaug Party Plot, Vastrapur, Ahmedabad –
380015, (hereinafter referred to as the “Lender"), on such terms and conditions as mentioned in the Loan Agreement dated 29th April, 2019 (“Loan
Agreement”) executed between the Lender and the Borrower.

At my request the Lender has agreed to accept Fax submission and/or instruction through email (whether electronically signed or not) either sent by the
Borrower to the fax number or email designated for the purpose by the Lender subject to the indemnity herein offered by me.

The Lender shall not be liable for any losses or damage which we may suffer as a consequence of the Lender acting in accordance with or in reliance upon, any
Fax submission and/or email instruction.

I shall indemnify the Lender and keep the Lender indemnified, at all times from and against any and all claims, losses, damages, and other expenses incurred,
suffered or paid by the Lender and also against all actions and suit proceedings against the Lender in connection with or arising hereunder.

GAGAN CHAWALA

_____________________________________________________________
Borrower

Page 13 of 15
 Part B - Demand Promissory Note

Place: Ahmedabad, Gujarat

Date: 29th April, 2019

ON DEMAND I, GAGAN CHAWALA, Son of Madan Lal, aged 34 years, Residing at 23/2, Kacha Bazar, Ambala Cantt, Ambala G.P, Ambala,
HARYANA - 133001, having PAN No. ALGPC7552A promise to pay Lendingkart Finance Limited (formerly Aadri Infin Limited), a company
incorporated under the Companies Act 1956 and a non-banking financial company within the meaning of the Reserve Bank of India Act, 1934 and having its
registered office at No. 004, Ground Floor, Midas, Sahar Plaza Complex, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra and
corporate office at The First, 14th Floor, First Avenue, Besides Keshavbaug Party Plot, Vastrapur, Ahmedabad – 380015,(hereinafter referred to as the
“Lender"), the sum of Rs.. 70,000.00/- (Rupees Seventy Thousand and Zero paise Only) for value received with interest at the rate of 1.60% (One point
Six Zero percent) Flat per month with monthly rests till date of payment in full, subject to changes in rate of interest as per Lender’s policy.

GAGAN CHAWALA

______________________________________________________________
Borrower

Rs. 1
Stamp

Page 14 of 15
 Part C
Acknowledgement - Post-dated cheques

RECEIVED with thanks from the Borrower the following Post Dated Cheques, all drawn on Lendingkart Finance Limited (formerly Aadri Infin Limited),
towards the repayment of Loan amount as stated herein and the Loan Agreement.
Sr. No. Name of Bank Bank Account No. Cheque No.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

For and on behalf of Lendingkart Finance Limited (formerly Aadri Infin Limited)

_______________________________________
Authorised Signatory
$$EOPN$$

Page 15 of 15
 Sanction Letter
Date: 27th April, 2019 $$HEADER$$FOOTER$$

To,

GAGAN CHAWALA,
23/2, Kacha Bazar, Ambala Cantt, Ambala G.P, Ambala, HARYANA - 133001

Dear Sir,

Sub.: An offer for Loan for Working Capital

With reference to your application, we offer the Loan on the terms and conditions given below:

Working Capital Finance for meeting working capital requirements of business carried by GAGAN
Nature of Loan
CHAWALA

Amount Rs. 70,000.00/- (Rupees Seventy Thousand and Zero paise Only)

Security Unsecured Loan

Purpose Working Capital

Rate of Interest 1.60% (One point Six Zero percent) Flat per month.

Stamp duty, documentation charges, processing and set

Rs. 4,661/- (Rupees Four Thousand Six Hundred Sixty One Only)
up fee (including GST)

Rs. 999.00/- (Please note that amount of insurance premium may vary depending upon the date of
Insurance Premium Amount (Including GST)
loan disbursement)

Repayment details Repayment by 36 equal MONTHLY instalments of Rs. 3,064.

Primary Repayment Mode NACH / Post Dated Cheques / NEFT

Secondary Repayment Mode N/A

Total Interest Payable Total interest payable over the complete tenure of loan is Rs. 40,320/-.

Delay Charges Rs. 300 for each overdue instalment of loan amount and applicable taxes thereon.

Penal Interest 0.1% per day on the overdue loan amount.

Penalty levied by the Bank on the Lender on dishonoring of cheque(s) issued by the Borrower and
Bank Charges
/or the Co-borrower

The stamp duty and documentation charges in connection with the Loan Documents shall be borne
Stamp Duty and documentation charges
by the Borrower

Borrower needs to take lender’s prior written approval before incurring further debt / loan /
Approvals required
financing / encumbrances from any other lender

1. Personal Guarantee
2. Undertaking
Documents to be Provided By the Borrower 3. Undertaking cum Indemnity in respect of facsimile and/or email
4. Demand Promissory Note
5. Post Dated Cheques

The above Loan shall be made available to you on the above terms subject to compliance of all the conditions detailed in the Agreement.
The above letter is valid for 7 (Seven) days from the date of issue. Kindly return the duplicate copy of this letter duly signed as a token of your acceptance of
the terms and conditions stipulated for the above Loan.

We look forward to a mutually beneficial relationship.

Thanking you,

For and on behalf of Lendingkart Finance Limited (formerly Aadri Infin Limited)

_______________________________________
Authorised Signatory $$HEADER$$FOOTER$$