MorrrAL OswAL HOME LOANS Ref. No.: MOHFLI CF I LO / 24-2O2s Motilal Oswal Home Finance Limited Date:3O/08/2024 CIN : U65923M H2O1 3PLC2487 41 Regd. Office.: Motilal Oswal Tower, Rahimtullah Sayani Road, Opp. Parel ST Depot, Prabhadevi, Mumbai - 400025 \: 82918 89898 To, Email : hfquery@motilaloswal.com M/s. Rustagi Estates Private Limited Ground Floor, Atul Baugh , Syndicate Near Saraswat Bank Kalyan Murbad Road, Thane Maharashtra - 4Zt3Ot Kind Attn.: Mr Sanjay Gupta Mrs. Urvashi Gupta Dear Sirs, Subject: Sanction of Term Loan Facility of Rs. 10.00 crore This is with reference to your loan application on the captioned subject. Motilal Oswal Home Finance Limited (MOHFL) ("Lender") is pleased to convey its approval for Term Loan facility to Rustagi Estates Private Limited ("Borrower/ The Company"), f or an amount not exceeding Rs,10.00crore. This Sanction is subject to fulfilment of Terms and Conditlons ("Terms & Conditions") entailed herein to the complete satisfaction of MOHFL. This letter should not be construed as giving rise to any binding obligation on the part of MOHFL to provide the financial assistance/facillty mentioned overleaf (the "Facility"), unless you have executed transaction/loan documents, in a form and manner as may be required by MOHFL in connection with the Facility. Most lmportant Terms & Conditions: DeallD DXMOHOF24-2507530L5 Lender Motilal Oswal Home Flnance Limited (MOHFL) Borrower Rustagi Estates Private Limited Entity Co-applicant/ Mr Sanjay Gupta Guarantor Mrs. Urvashi Gupta Facility Term Loan Rs. 10.00 crore (Fully Approved Area ) Amount Facility Type Construction Finance Purpose of Construction Finance for Project "Rustagi Aarambha 2.0" Loan Loan Tenure Facility l: 58 Months Rate of L4.OO% p.a. monthly compounding and payable monthly I nterest Type of Linked to Prime Lending Rate which is as on date20.30%. I nterest Penal/default 2% per an@ounded monthly from the date of default till the date of recovery on lnterest d e f a u I t erZantt0ritbi Nc c o r d a n ce wirEhan JAg r e e m e n t W F) ur \),*M THINK www.motilaloswal com THINK Repayment of ln 27 equal monthly instalments post completion of principal moratorium forTerm Loan I Loan Primary 1. First & exclusive charge over project land for Buildlng- 4 (Survey No 101/1/D at Security Titwala, Kalyan, Thane, 421.605 admeasuring 3110 Sq.Mtrs) 2. First & exclusive charge on hypothecation of sold and future receivablesfrom the project Building-4 (Survey No 101/1/D at Titwala, Kalyan, Thane, 421605 admeasuring 31L0 Sq.Mtrs) 3. Personal guarantee of all the promoting partners of the firm 4. Demand Promissory Note and Post Dated Cheques as per Loan Agreement 5. Corporate guarantee of Rustagi Estates Private Limited. Land to be "Rustagi Aarambha 2.0"on Survey No No.: 101/UD atTitwala, Kalyan,Thane, 421.605 Mortgaged admeasuring 31"L0 Sq.Mtrs DSRA Yes, Three month's lnterest/EMlwhichever is applicable Security ln accordance with the Loan Agreement Cover Processing Processing Fee: 1.00% at the time of 1't disbursement processing fees to be collected on Fee & other Term Loan of Rs 10.00Crs equals to Rs L0 Lacs +taxes charges Prepayment/ ln accordance with the Loan Agreement Foreclosure Charges Disbursement Term Loan schedule lnflo Amount to be Flat from lnflow disburs sto Resi Commerci from Promoter ed Constructi Constructi be Unit al Units to Commerci Contributi Term Period on Cost on Staqe sold S be sold al Units on Loan 01-08- zo?4rll 0.00 Date 0.00 0.00 1.00 5.00% 0 0 Sep-24 2.97 13.89% 4 0.04 0 000 0.00 4.00 Dec-24 19.17Yn 6 o.29 2 0 15 0.00 2.00 Mar-25 3.00 29.17o/" 6 0.s1 2 030 0.00 2.00 J u n-25 3.39 23.50% 10 L.77 2 053 0.00 2.00 Sep-25 1.10 7.75% 10 1.48 1 0.45 000 000 Dec-25 000 1.13% 10 7.91- 1 0.55 000 0.00 Mar-26 000 0.00% 10 1.62 1 0.37 000 0.00 Jun-26 0.00 0.00% 10 1.98 1 047 0.00 0.00 Sep-26 0.00 0.00% 10 2.1,6 0 0.21 0.00 0.00 Dec-26 0.00 0.00% 10 2.25 0 0.19 0.00 000 Mar27 0.00 0 00% B 2.1-L 0 0.19 0.00 0.00 lun-27 0.00 0.00% 2 7.21 0 0.19 0.00 0.00 Sep-27 0.00 0.00% 2 L.75 0 0.19 000 000 Dec-27 0.00 0.00% 0 0,00 0 0.00 0.00 0.00 Mar-28 0.00 0.00% 0 0,00 0 0.00 000 000 J u n-28 0.00 0.00% 0 0.00 0 0.00 000 000 Sep-28 0.00 0.00% 0 0.00 0 000 0.00 0.00 Dec-28 0.00 0.00% 0 0.00 0 000 0.00 0.00 Mar-29 0.00 0.00% 0 0.00 0 000 0.00 0.00 Jun-29 0.00 0.00% 0 0.00 0 0.00 0.00 0.00 9U.U 17.9 Total 14 17 100.00% 0 8 10.00 3.80 323 10 00 Sales & The Borrower to achieve sales collections & construction milestones as mentioned above in .,a_-;-^>_ Collections :d'Libunseh\nt Schedule & in the Loan asreement. W \YssN)Z YT U.r* Escrow 1. The Borrower to open Escrow Account in accordance with RERA Act, 2016 with the Mechanism bank("Escrow Bank") mutually agreed with Lender and enter into an escrow agreement with the Escrow Bank in the form and manner acceptable to the Lender and the Escrow Bank; 2. The Borrower shall ensure that the Project receivables are deposited into the Escrow Account; 3. The Lender shall have full authority to monitor this account in such manner as it may deem necessary; 4. The Escrow Account shall be maintained by the Borrower during the entire tenure of the Facility and shall not be closed without prior written approval of the Lender; 5. All cost, charges and expenses in connection with the Escrow Account shall be borne by the Borrower. Sweep Ratio Up to Rs5.00 Cr collection lncremental 5.00 Cr collection , i.e. Total 10.00 cr lncremental 15.00Cr Collection ,i.e. Total 25.00 Cr The Company shall ensure that the sale price of each Unit as given below: For Residential Unit@ 34551= per sq.ft. on Saleable Area For commercial Unit @9000/= r sq.ft. on Saleable Area Event of default shall be usual for financing of this nature and as appropriate for this transaction. All the terms mentioned in Loan agreement under "Event of Default" would be treated as "Event of Default". Consequences The Lender shall be eligible to all or any of remedies on the occurrence of Event of Default of Event of as mentioned under Loan Agreement. Default Conditions The Borrower and other Obligors shall satisfy the following conditions before availing first precedent to disbursement/tra nche: First L. Accepted copy of Sanction Letter; Disbursement 2. Duly executed Facility/Loan agreements; 3. Satisfactory legal vetting of title documents by MOHFL; 4, All checks related to lndividual Bureau check, Corporate Bureau check, FCU/RCU, Fl, CERSAI and ROC to be done pre-disbursement and should be positive; 5. Two Valuation Reports as per the norms to be obtained; 6. Projected Cash flow duly certified by the Borrower; 7. Declaration of Ultimate Beneficial Owner (UBO) as per regulatory requirement; 8. Mortgage on security and hypothecation of receivables in favour of MOHFL; 9. 15 (Fifteen) dated Cheques repayment of interest, 4 (four) dated cheques repayment of tuineipQl and 2 (Two) blank undated cheques issued in favour of the Lender towards 3")i(, tx/ .\P a to U*l- 10. All partners to be on the loan 11. DSRA of 3 Months projected EMI 12. All points mentioned in Annexure 1to the Sanction Letter; and 13. All other points mentloned in the Loan Agreement. Conditions 1. Escrow account to be opened and actlvated for the Project with the Lender's subsequent designated Bank within 30 days of first disbursement; to 2. Customer to deposit all sales proceeds in the designated escrow account; Disbursement 3. Borrower/Developer to disclose in Pamphlets/Brochures/ advertisements/agreements information regarding mortgage of property to MOHFL within 45 days from the date of first disbursement or before disbursement of second tranche whichever is earlier; 4. Borrower/Developer to disclose in Pamphlets/Brochures/ advertisements / agreements that they would provide NOC from MOHFL for sale of units /property within 45 days from the date of first disbursement or before disbursement of second tranche whichever is earlier; 5. Appropriate board/hoarding of MOHFL to be displayed on the project site financed by MOHFL within 45 days from the date of first disbursement or before disbursement of second tranche whichever is earlier; 6. All points mentioned in Annexure 2 to the Sanction Letter; and 7. Promoter contribution has to be infused as per the agreed sanction condition. 8. During the tenure of loan promoter contribution including unsecure loan to be remain i nta ct. 9. The said project is under PMAY Scheme, any disbursement/reimbursement from Government has to be deposited in Rustagi Aarambha 2.0 ,Hypothecated to MOHFL escrow accounts. 10. All other conditions as per the loan agreement. Shortfall ln the event, the value of Security provided by the Borrower falls below the Security Cover undertaking in the sole opinion of the Lender due to any reason whatsoever, whether or not the assets comprising the Security have deteriorated in condition, the Borrower shall either prepay the proportionate Facility amount immediately to the extent of such shortfall or create such additional security as may be required by the Lender and execute such further documents/agreements as may be required for this purpose in accordance with Loan Agreement. ln case, there is any delay in receipt of advance money from customers or there is any increase in cost of project/contingencies, the Borrower shall meet the requirement from its own resources, to ensure completion of the project/repayment of MOHFL obligations. RERA The Sanction is subject to following Real Estate Regulatory Authority (RERA) Compliances: compliances 1.. The Project to be compliant with RERA guidelines, if the project comes under RERA Act; 2, The Borrower and the Project at the time of execution of this sanction letter, have been in compliance and shall continue to comply with the provisions of RERA Act. The Borrower shall execute all such documents, get all such approvals and make all such representations as may be required by MOHFL from time to time in order to ensure that the Project and Borrower are in compliance with all the provision of RERA AcU 3. The Borrower shall forthwith disclose the details of the loan provided by MOHFL on the website of the RERA; 4. The Borrower shall forthwith intimate MOHFL about any claims, notices, intimations etc. as may be received from any of the allottees, RERA or any other person in relation to$gereigU 5. Yfle..BO,ttSweiShall obtain the written consent of MOHFL prior to proposing any change W NgrvrZ/ \r( \)""/- in the sanctloned/proposed plan of the Project, which may change the projected cash flows of the Project as disclosed to RERA and MOHFL; 6. Without prejudice to the other rights of MOHFL and/or the provisions of this Sanction Letter and/or the other documents in relation to the Loan, the Borrower shall provide forthwlth a copy of certificates, information, documents and updates as may be provided/required to be provided to RERA under the RERA Act andlor the rules and regulations there under; 7. The Borrower shall ensure that the stage wise time schedule of the Project as disclosed to RERA and the allottees at the time of allotment are adhered to; 8. The Borrower shall do all such acts as may be required to ensure that the completion/occupancy certificate (as defined under the RERA Act) for the project is obtained on or before the date of completion as disclosed the allottees and RERA; 9. The Borrower shall not make any false/incorrect representations/disclosures to RERA or any of the allottees or MOHFL; 10. ln the event any interest or penalty is required to be paid by the Borrower to any person pursuant to the provisions of RERA Act, the Borrower shall pay such interest and/or penalty from its own sources (without creating any encumbrance over the project or any part thereof); 11. Without prejudice to the other rights of MOHFL and/or the terms and conditions of the documents in relation to the amount sanctioned hereunder, in the event the non- registration by RERA, the same shall be treated as an Event of Default. Reporting L. Among other documents to be specified in the Financing documents, the Borrower Covenants must supply to the Lender, as soon as they are available. Following Information to be provided by the Borrower on quarterly/monthly basis: i. Status of Approvals in the Projects, if applicable ii. Escrow Account statement iii. Project MIS / Sale details - Unit booked/ Sale consideration lBuyer name / Amounts collected etc. iv. Construction Cost incurred - to be certified by Chartered Accountant, if a pp lica ble. 2. Details of any litigation, arbitration or administrative proceedings against any of the Obligors which are current, threatened or pending and which have or might, if adversely determined, have a material adverse effect; 3. Notice of any change in the authorized signatories of the Borrower accompanied by requisite authority letter authorizing the signatories and attaching the specimen signatures of any new authorized signatory; 4. Such further information regarding the financial condition, business and operations of the obligors as the Lender may reasonably request; 5. MOHFL may, if required by law, statutory regulation, court order, subpoena or other similar legal process, disclose to banks/government and statutory authorities information in connection with the Facility, Borrower etc. Financial MOHFL may assign, transfer, sell or grant participation of its rights, obligations, interest Covenants or benefits to any other person in accordance with terms of Loan Agreemen! MOHFL has right to accelerate repayments in case of non-compliance to above covenants; MOHFL reserves an unconditional right to cancel the undrawn/unused/unavailed portion of the Loan/facility sanctioned at any time during the currency of the Loan/facility, without any notice to the Borrower, for any reason whatsoever. Please note that any changes in the lncome Tax, & GST laws shall attract suitable revision in the installments. All other terms and conditions will be as per the Facility Agreement(s) to beffi(with MoHFL; s6B;]I%Nas mentionerr#t\the Loan agreement all costs and expenses $ o a\ ,(!l E1 * r) \ \Hf,lr/ W \h"e (including valuation, legal due diligence, financial due diligence, any other cost related to inspection, review etc.) shall be borne by the Borrower lrrespective of whether the Facility document is signed or not plus applicable taxes for thls transaction and other inspections including ROC & CERSAI search & creation along with Credlt Bureau checks; 5. All legal and incidental expenses, duties and taxes (including without limitation stamp duties, transfer charges, service tax, withholdlng tax etc.) relating to the Facillty shall be borne by the Borrower; 6. All payments by the MOHFL under the Loan Agreement and/or other appropriate documents shall be made free and clear of all present and future taxes, levies, imposts, charges, deductions and withholdings of whatsoever nature except lncome Tax; 1. lnterest payments under this facility would be paid by the Borrower without any deductions other than statutory withholding taxes if any. Any levies or taxes on the principal repayments would be grossed up such that the Lender would recelve the same amount as if no such deduction had been applied; Furnish information about business, assets and financial condition at our reasonable request from time to time; 9. Ensure that payment obllgations under the facilities will at all-time rank first with present indebtedness and rank senior to all future indebtedness; 10 Not to create or allow to exist any encumbrance or security over assets specifically charged to MOHFL, without any prior written consenu 7t Not to undertake or permit any reorganization, amalgamation, reconstruction, takeover or any other schemes of compromise or arrangement, nor amend any provision of your major constructive documents in such a manner that will adversely affect our rights under the facility; 1"2 Not to induct a Director in Company who has been identified as a willful defaulter and that in case, if such a person found to be in the partnership, Borrower would take effective steps for removal of the person from the Company; 13 lf there is any interest tax levied by the Government of lndia or any other Authority under the lnterest Tax Act t974 or under any other law, the Borrower shall reimburse to MOHFL any such tax imposed or levied by the Government of lndia or any other authority on interest and/or other payments required to be paid by the Borrower in connection with said loan facility; L4 Any other condition as may be stipulated by M Additional 1,. For sale of any unit / area in the Project, the Borrower shall obtain a prior No Objection covenant Certificate (NOC) from the Lender. Application of NOC should clearly mention the buyer's name, particular unit belng sold, sale value in the agreement and any other information which Lender shall request. 2. Submission of monthly statement along with the sales MlS, amount collected, balance receivable, project expenditure incurred, balance project cost and unsold inventory for the Project by 10th ofthe subsequent month; 3. All the permissions, licenses and approvals necessary for development / construction of the Project shall be obtained and the same should continue to be valid and subsisting during the currency of the Facility; 4. The Facility to be used for the purpose it is sanctioned and not to be diverted for any other purpose other than construction of the project; 5. The Facility amount would not be utilized for the following purposes: . Any purpose prohibited by RBI/FEMA/SEBI; . Any other speculative business 6. The Borrower shall not undertake the following without prior approval from the Lender: i. Changetheshareholding/management; ii. Mrffiq€quisitions or enter inl,u-rlL mergers without the consent of the \o\ 6 Kffi ur ,},/" \-sIVl.--Yj Iio, t/ Lenders; ili. Change the company's material accounting methods or policies or change the com pany's statutory a uditors; iv. lnltiate bankruptcy or liquidation proceedings; v. Grant any guarantees or indemnities outside the ordinary course of business; 7. The Borrower shall forward to the Lender audited accounts within 180 days of financial year end; 8. No further debt to be availed by the Borrower against the Project without MOHFL's written permission; 9. NOC from other Financial lnstitutions and/or Banks from where the Borrower might have taken loans for any other Project(s) if such an approval is stipulated in the agreement / arrangement with them; 10. Unsecured loan from Promoters / Directors / Friends or relatives of Directors/ Any other party invested in the Projects shall be subordinate to Motilal Oswal Home Finance Limited Facility and will not be repaid until Motilal Oswal Home Finance Limited Facility is completely repaid with no interest / principal dues outstanding, save and except as mentioned in the loan agreement. 11. The Borrower shall ensure that maximum number of customers who intend to avail home loan are referred to MOHFL 12. Every booking in the project "RustagiAarambha 2.O" lo be given to MOHFL, first right of reiection to be taken. Assigna bility The Lender shall have the right to assign, transfer, sell, pledge or hypothecate the Facility, receivables, the security, rights, benefits and any other interest created in its favor under the Facilitv Aqreement or hereunder in accordance with the Loan Agreement Customer ln case of any complaints, kindly contact our branch official to make entry in "Query Grievance Management Module" available at the branches. Mechanism lf complaint is unresolved at branch level, you may directly lodge your complaint by; Calling our Customer Service Helpline on 22-47L89999 between; Monday to Friday - 9:00 am to 7:OO pm & Saturday 10:00 am to 4:00pm; or Email us at: hfquery@motilaloswal.com; or Write to us at the below mentioned address Motilal Oswal Home Finance Limited (Customer Service Cell) Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel S.T. Depot, Prabhadevi, Mumbai-400025 ln case the complaint is unresolved within the given time frame or if you are not satisfied with the solution provided by MOHFL, the customer can approach to Grievance Redressal Officer. The name and contact of the Grievance Redressal Officer is as follows: Ms. Aalia Shaikh (Contact: +91-22- 50362730) Email ld: h"f ff -o*@.m q lihleswaLcsm lf the complaint/dispute is unresolved, complaint can be lodged to National Consumer Helpline at https://consumerhelpline.gov.in/ or lf the complaint/dispute is unresolved within a period of 6 weeks, the customer may appeal to National Housing Bank at their GRIDS Portal at below mentioned link: http_s;//sl"i"dr,1lrb-9fl[1e,o_H,in1(S_(0_ejrd2!.4--20.q.mp-p!u.q]tafrz2))/def"ault,aspx or by post at the address; To, Deputy General Manager, National Housing Bank, Complaint Redressal Cell, Department of Regulation and Supervision, National Housing Bank, 4th Floor, Core-SA, lndia Habitat Centre, Lodhi Road, New Delhi - 110 003 G enera I L. The Loan agreement and other transaction documents may/will contain terms and in Terms & addition to or in modification of those set out in this Letter. Conditions 2. Notwithstanding anything stated elsewhere in this Letter or otherwise, the Facility mentione{ overleaf will be available solely at MOHFL's discretion and subject to .ffiffiformalities;Ktationasmaybespecified/requiredby w N{EIZ 2\ o\ r> o) '// // Y \1."/- 3. MOHFL is entitled to add to, delete or modlfy all or any of the terms and conditions for the facility and/or the Standard Terms applicable to the Facilities. 4. The Borrower/s shall immediately intimate MOHFL in the event of any change in the repayment capacity of the Borrower/s. Without limitation, this shall include a loss/change in job/profession etc. as also any change in any information stated in Borrower's application for the Facilities. 5. Part Payment/Foreclosure of loan should be in accordance with Loan Agreement; 6. ln case if any amount is prepaid by the Borrower/s, the same shall be adjusted first towards the incidental charges, additional interest, PEMI, instalment outstanding, lnstalment of current month and balance towards the principal amount of such facility. MOHFL, at its sole discretion, may permit swap of the PDC's for re-scheduling of EQI only if such minimum amount, as may be decided by MOHFL from time to time is pald. 7. MOHFL will charge fees for sanctioned limits which is non-refundable in nature as per terms of Loan Agreement. 8. Pre-EMl is the interest payable on the amount disbursed as per applicable rate of interest as mentioned in Loan Agreement. 9. Any additional security required by MOHFL in its sole discretion, maybe asked for by it on, before or subsequent to the disbursement of the loan, and all requisite documentation for such security would need to be provided by Borrower(s) as and when asked for by MOHFL for scrutiny. 10. The Borrower shall maintain adequate books and records which should correctly reflect their financial position and operations and it should submit to the Lenders at regular intervals such statements as may be prescribed by the Lenders in terms of the RBI / Lender's instructions issued from time to time; 11. The Borrower will comply for adherence of National Building Code (NBC) specifications formulated by Bureau of lndian Standards; 12. The Borrowerto adopt National Disaster Management Authority (NDMA) guideline to ensure safety of building especially against natural disaster; 13. The Borrower will comply for adherence to the Ministry of Environment and Forest notification on "Fly Ash" and such other notifications issued from time to time during the tenure of the loan; 14. This is the only sanction letter issued by MOHFL in respect of the abovementioned proposed loan facility. MOHFL shall not be liable, responsible or bound by any other letter/communication issued by any person in relation to the proposed loan facility. 15. Restricted Use of Funds: The Developer agrees that the loan amount sanctioned under this Agreement shall be used exclusively for the purposes outlined in the Project Plan attached hereto as Exhibit A. Specifically, the loan proceeds shall be utilized solely for [describe intended use, e.9., construction, renovation, or development of the project]. 16. Prohibition on Diversion: The Developer shall not use any part of the sanctioned loan amount for any activities other than those specified in the Project Plan. This includes, but is not limited to, the purchase of additional land, development of unrelated projects, or any other activities not directly related to the approved project. 17. Monitoring and Compliance: The Developer agrees to maintain accurate records of the use of the loan proceeds and shall provide such records to the Lender upon request. The Developer shall also permit the Lender or its representatives to conduct audits or inspections to ensure compliance with this restriction. 1-8. Consequences of Misuse: Any use of the loan amount for purposes other than those expressly permitted under this Agreement shall constitute a breach of this Agreement. ln such an event, the Lender reserves the right to take corrective actions, including but not limited to, demanding immediate repayment of the loan amount, adjusting the terms of the loan, or pursuing any other remedies available under law or equity. 19. Penalty for Misuse: ln the event of a breach due to the Developer's misuse of the loan the shall be li a penal al to 2% of the total loan ry u** amount. This penalty shall be in addition to any other remedies or actions the Lender may pursue as outlined in this Agreement. Governing The Facility will be governed by, and construed in accordance with lndian laws. Law Validity This sanction is valid for a period of 30 days from the date of lssuance. *Cash Flow Statement Au Ma Ma Ma sep Dec Jun sep Dec Jun sep Dec Jun sep To 8- r- r- f- -24 -24 -25 -25 -25 -26 -26 -26 -27 -27 tal To 24 25 26 27 PARTICULARS tal Till a- q- q- Dat Q-1 q-2 q-3 Q-1 Q-2 Q-3 Q-1 q-2 q-3 q-1 4 4 4 e INFLOW From Sold Units 0.0 0.0 0.0 0.0 0,0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.00 0,00 0.00 0.00 0 0 0 0 0 0 0 0 0 0 0 0 From - To be 77. 0.0 0.2 1.1- 1.4 1.9 1.9 2.7 2.2 1.2 7.2 1-7 . sold units - Resi 0.s 1 7.62 2.1-L 98 4 9 7 8 1 8 6 5 1 5 98 U nits From To be Sold 3,8 0.0 0.1 0.5 o.4 0.5 o,4 0.2 0.1 0.1 0.1 3.8 Commercial 0.00 0.30 o.37 0.19 0 0 5 3 5 7 1 9 9 9 0 Unit 2.4 0.0 0.4 0.6 0.2 0.2 0.1 0.0 0.0 0.0 0.0 2.4 PMAY 0.00 0.61 0.1-2 0.00 5 0 9 1 5 5 2 0 0 0 0 5 Own 3.2 4.1- a Contribution 0 27. 0.0 0.9 2.3 z.L 2.7 2.5 2.3 2.4 L.4 r.4 28. Total Receipts 3.23 L.43 z.t7 2.30 46 4 3 1 8 0 7 7 4 0 4 33 OUTFLOW 0.0 0.0 La nd Cost 0.06 6 6 Approval & 1.0 0.1 1.0 Development 0.90 0 0 0 Cost TDR Cost Cost of L4. 2.9 )a 3.3 7.7 t4. construction - 1.00 3.00 1-7 7 2 9 0 17 TL Development 1.5 0.5 1.5 1.00 cost 0 0 0 Selling & 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.04 0.04 0,04 Overheads 0 4 4 4 4 4 4 4 4 4 4 0 Admin & o.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 o.1,2 o.o2 o.o2 0.02 Overheads 0 2 2 2 2 2 2 2 2 2 2 0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 o.2 Architect Fees 0,15 0.01 0.01 0.01 5 1 1 7 1 7 7 1 L 1 1- 5 Bank interest / 2.0 0.0 0,1 o.23 0.2 0.2 0.2 0.22 0.1 0.1 0.1 0.08 0.0 0.0 2.0 Processing fee 9 7 7 8 9 6 9 5 1 4 0 9 Repayment of 10. 0.0 0.1 0.5 0.7 0.9 1.0 1.0 1.0 1.0 1.0 10. 0.3 6 1.09 1.09 Term Loan 00 1- 4 8 6 4 9 I 9 9 41- 29. 3.5 3.0 4.3 2.2 1.3 1.3 1.3 7.2 1-.2 L.1 30. Total Payments 3.23 3.65 1.38 L.23 97 1 9 1 2 7 4 1 7 0 6 38 Opening Cash 0.4 0.0 0.0 0.0 2.0 3.3 4.3 6.6 6.8 o.27 1.34 5.54 Balance 5 5 2 8 L 7 0 0 (2. 12. (3.s (1.7 (1.e (1.e 0.0 1.3 3.3 4.3 5.5 6.8 7.0 Deficit/Surplus 51 0.87 2.08 5.60 05 7l 3) s) s) 2 4 1 7 4 0 8 ) ) Bank/Fl 10. 4.0 2.0 2.0 10. contribution - 2.00 00 0 0 0 00 TL1 /a'^ ,.( k) ,j{E(,\\ \> lo /d \r $r/" l::::n"" l'; | '; '; l,,' | I | ',' | ',' I t l,- | 'l | -; I '; 1", I '; I '; l'; I MOHFL shall be entitled to revoke the sanction of the Facility, inter alia, in any of the following circumstances: i. there is any material change in the purpose(s) for which the Facility has been sanctioned; ii. there are material changes in the Borrower's financial performance; iii. in the sole judgment of MOHFL, any material fact has been concealed and/or become subsequently known; iv. any statement made by or on your behalf in your application or otherwise, is incorrect, incomplete or misleading; duly signed Loan Agreement along with other documents required for disbursal by you are not received by MOHFL within the specified validity period; vi. there is a default or a breach of the terms and conditions of this letter or any other loan/facility offered by MOHFL to you/any of you; vii. The legal/technical/valuation report on the property is not satisfactory to MOHFL; viii. The Borrower fails to comply with any of the provisions of RERA Act or fails to comply with any request of MOHFL either with respect to any act to be done or not done under RERA or otherwise; Any other reason which can have a detrimental impact on the Project, its timely completion and/or bookings. The Borrower and MOHFL hereby agree that: 1.. The Terms and Conditions contained in this Sanction Letter shall form part of the Loan agreement executed/to be executed between the Borrower and MOHFL to record the terms and conditions of this loan/facility ("Loan Agreement") and are deemed to be incorporated into the Loan Agreement by reference. 2. The Borrower agrees that it shall, on or about the date hereof, execute such further documents in order to create and perfect the security described hereinabove. Failure to do so, will be an Event of Default under the Facility Agreement. 3. ln the event of any inconsistency, express or implied, between the terms and conditions contained in the Loan Agreement and this Sanction Letter, the terms contained in the Loan Agreement shall prevail to the extent of such inconsistency. As a token of acceptance of this Sanction, you are requested to return a copy of this Letter duly signed by the authorized signatory. Yours truly, Finance Limited, w U-/ We acknowledge and accept the contents of this sanction letter and we are agreeable to all the terms & conditions laid herein. Accepted by For Rustagi E tates Private Limited h^V S'.gn ,t -- Authorized S()Atories Annexure 1 - Conditions Precedent PART A INITIAL TRANCHE CONDITIONS PRECEDENT Co rpo rate/ Secreto ria I Co m pl io nces 1. The Borrower andf or the other Obligors shall furnish the following documents to the Lender: (i) Certified copy of the Constitutional Documents of the Borrower and relevant Obligor; (ii) Specimen signatures of each of the authorised signatories (wherever applicable) of the Borrower and the relevant Obligor; (iii) Self-attested photographs of each of the authorised signatories Borrower and relevant Obligor; and (iv) A satisfactory Know your customer ("KYC"), RBI statutory check and Transunion CIBIL Limited ("ClB![") check in respect of the Borrower and the other Obligors. 2. Certified true copies of the resolutions signed by all partners of the Borrower, authorizing the Borrower to avail the Loan and execute the Finance Documents and approving the terms of the transactions contemplated by the Finance Documents, for creation of the Security, and authorizing a specified Person or Persons, on its behalf, to sign and/or dispatch all documents and notices to be signed and/or dispatched by it under or in connection with the Finance Documents etc., in a form and manner satisfactory to the Lender. 3. The Obligors shall have provided a duly executed and registered original copy of this Loan Agreement, Deed of Hypothecation, Personal Guarantee, and Demand Promissory Note letter of continuity in the form an satisfactory to the Lender. ffi w |v- 4. The Obligors having provided the Lender with Cheques and such other undated cheques, signed by the authorized signatory of the Borrower as may be requested by the Lender, in a form and manner satisfactory to the Lender. 5. Copies of the net-worth certificate of the Personal Guarantors as on or after March 31,2024 to be provided to the Lender. A certificate shall also be submitted by the Personal Guarantors, stating that there has been no diminution in the value of their net-worth from their net-worth certificate date till the Execution Date. 6. The Borrower shall have submitted certificate in the form and manner set forth as per Loan agreement. 7. The Borrower shall have submitted to Lender, all required documents for the purpose of satisfying its respective know your customer requirements. B. The Borrower and Partners should have provided a certificate of the assessing officer under Section 281 of lncome Tax Act, 1961 or provided a certificate from the chartered accountant certifying the non -applicability, in a form and manner required by the Lender. 9. A certificate of the Borrower and the other Obligors certifying that: (r, no Material Adverse Effect has occurred; (ii) representations and warranties set out in this Agreement are true and correct in all material respects; (iii) no Event of Default has occurred or is continuing or would result from proposed advancing of Loan; and (iv) Minimum Security Cover provided/ proposed to be provided by the Borrower/Obligors yith the provisions of the Applicable Law. -*--/^r> eguo"l Y Y w \I/ PART B SU BSEQU ENT TRANCHE CONDITIONS PRECEDENT 1. A certificate of the Borrower and the other Obligors certifying that: Ir,l no Material Adverse Effect has occurred; (ii) representations and warranties set out in this Agreement are true and correct in all material respects; (iii) no Event of Default has occurred or is continuing or would result from proposed advancing of Loan; and (iv) Minimum Security Cover provided/ proposed to be provided by the Borrower/Obligors is in line with the provisions of the Applicable Law. 2. Completion of all the conditions subsequent as mentioned in Loan agreement (unless the time period for completion condition subsequent expires after the relevant Di ffi ). Y ry\,,V Annexure 2 (coNDrroNs su BsEqu ENT) L. The Borrower shall provide to the Lender an end use certificate signed by the chartered accountant of the Borrower within 30 (thirty) days from each Disbursement Date, stating the manner in which the proceeds of the Loan were used and that such use was in accordance with the Purpose and has not been utilised for any other purpose. 2. Within 30 (Thirty) days from the first Disbursement Date, the Borrower shall have execute the Escrow agreement and Bank to grant the Lender with online viewing access to all the Escrow Accounts. 3. Within 30 (Thirty) days from the first disbursement date, the borrower shall have executed and registered original copy of this Mortgage deed. 4. The Borrower shall within 30 (Thirty) days of initial Disbursement Date, obtain suitable insurance policies in respect of the Project in accordance with the directions issued by the Lender and designate the Lender as the loss payee and provide satisfactory evidence thereof to the Lender. 5. Term Loan will be of Rs 10.00Crs which will be disbursed only once all previous and current condition as per cash flow has been met by the developer. 6. The Obligors shall make the following filings with the Registrar of Companies, within the timelines specified herein: Filing with Registrar of Companies Timeline Form CHG 1, as applicable, in respect of the Within the time prescribed under Applicable Law charges created over theSecurity. or within 15 (Fifteen) Business Days of execution of the relevant Security Document, whichever is earlier. Form 8, as applicable, in respect of the Within the time prescribed under Applicable Law charges created over the Security and by the or within 15 (Fifteen) Business Days of execution Borrower for availing the Loan. of the relevant Security Document, whichever is earlier. Necessary filings with ministry of corporate Within 15 (Fifteen) days of first Disbursement affairs to recold-*tlle change in of Date. v Constit utiona I 6-liffiheflG-bft he Borrower. W V^,'k List of unsold units (Residential)/(Commercial) in the project - "Rustagi Aarambha 2.0" Area of RERA Sr. Block Flat Configuration Flat Saleable Developer/ Owner Carpet Sq No. Name no. 213 BHK per sq Area Sq Ft Ft ft GROU N D 1 s-1 Shop Developer 22.L9 238.85 394.1,1, 2 GROUND s-2 Shop Developer 32.61 3 51.01 579.L7 3 GROUND s-3 Shop Developer 22.79 238.85 394.LL 4 GROU N D s-4 Shop Developer 15.91 171".26 282.57 5 GROUND s-5 Shop Developer 22.22 239. 18 394.64 6 GROUND s-6 Shop Developer 22.21. 239.07 394.46 7 GROU N D s-7 Shop Developer 22.2 238.96 394.29 GROUND 8 s-8 Shop Developer 22.2 238.96 394.29 9 GROUND s-9 Shop Developer 32.61. 351.01 579.17 10 GROU N D s-10 Shop Developer 22.2 238.96 394.29 tt FIRST 101 1BH K Developer 29.87 32L.52 530.51 t2 FIRST L02 lBHK Developer 29.87 321.52 530.51 13 FIRST 103 1BH K Developer 29.87 321.52 530.51 t4 FIRST 1_O4 1BH K Developer 29.87 327.52 530.51 15 FIRST 105 lBHK Developer 29.81 32L.52 s30.5 1 1,6 FIRST 106 1BH K Developer 29.87 321".52 530.51_ t7 FIRST to7 1BH K Developer 29.87 321.52 530.51 18 FIRST 108 1BH K Developer 29.87 32L.52 530.51 19 FIRST 109 1BH K Developer 29.87 32L.52 530.51 20 FIRST 110 1BH K Developer 29.87 321.52 530.51 21 FIRST 1"11 1BH K Developer 29.87 321..52 530.51 22 FIRST 11"2 1BH K Developer 29.87 32L.52 530.51 23 FIRST 113 1BH K Developer 29.87 321_.52 530.51 24 FIRST 1,1.4 1BH K Developer 29.87 32L.52 530.51 25 SECOND 201 TBHKF \ oevelop- 29.87 321".52 530.51 4-slla G ffi, txj'ssfo/ ffi v .}^/' 26 SECOND 202 lBHI( Developer 29.87 321..52 530.5 1 27 SECON D 203 1BH K Deve oper I 29.87 32L.52 530.5 1 )o SECON D 204 lBHK Developer 29.81 321..52 530.51 29 SECON D 205 1BH K Developer 29.81 321..52 530.51 30 SECON D 206 1BH K Developer 29.87 32L.52 530.s1 )1 Jf SECON D 207 1BH K Developer 29.87 32L.52 530.51 SECON D 208 1BH K Developer 29.87 32L.52 530.51 -)f SECON D 209 1BH K Developer 29.87 321.52 530.5 1 5z+ SECON D 210 1BH K Developer 29.87 32L.52 530.5 1 35 SECON D 21.L 1BH K Developer 29.81 321..52 530.5 1 36 SECON D 21.2 lBHK Developer 29.81 321.s2 530.5 1 37 SECON D 213 1BH K Developer 29.87 321..s2 530.51 38 SECON D 214 1BH K Developer 29.87 321..52 s30.51 39 THIRD 301 1BH K Developer 29.87 321.52 530.51 40 THIRD 302 1BH K Developer 29.87 321..52 530.51 41. THIRD 303 1BH K Developer 29.87 321.52 530.51 42 THIRD 304 1BH K Developer 29.81 32L.52 530.s1 43 THIRD 30s 1BH K Developer 29.81 321.52 530.51 44 THIRD 306 1BH K Developer 29.87 321_.52 530.51 45 THIRD 307 1BH K Developer 29.87 32L.52 530.51 46 THIRD 308 1BH K Developer 29.87 321..52 530.5 1 47 THIRD 309 1BH K Developer 29.87 321.52 530.51 48 THIRD 310 1BH K Developer 29.81 32L.52 530.51 49 THIRD 311 1BH K Developer 29.87 32L.52 530.s1 50 THIRD 312 lBHK Developer 29.81 321..52 530.51 51 THIRD 313 1BH K Developer 29.87 321..52 530.5L 52 THIRD 314 1BH K Developer 29.87 321..52 530.51 53 FOURTH 401. 1BH K Developer 29.87 321.52 s30.51 54 FOURTH 402 1BH K Developer 29.87 371_.52 530.51 403 Developer 32t.52 w 55 FOURTH 1Bt-il( 29.87 530.51 :\ 79 \k rl"/" 56 FOURI H 404 1Bl-ll( Developer 29.81 32L.52 530.5 1 ta FO U RTH 405 lBHK Developer 29.87 321.52 530.5 1 58 FOURTH 406 1BH K Developer 29.87 321.52 530.5 1 59 FOURTH 407 lBHK Developer 29.87 321.52 530.5 1 60 FOURTH 408 lBHK Developer 29.87 321".52 530. 5 1 61 FO U RTH 409 1BH K Developer 29.87 321,.52 530.51 62 FOURTH 410 1BH K Developer 29.81 321..52 530.5 1 63 FOURTH 41.1 1BH K Developer 29.87 321".52 530.5 1 64 FOURTH 41.2 1BH K Developer 29.87 321".52 530.5 1 65 FOURTH 413 lBHK Developer 29.87 321.52 530.5 1 66 FOURTH 4L4 1BH K Developer 29.87 321..52 530.5 1 67 FIFTH 501 1BH K Developer 29.87 321.52 530.5 1 68 FIFTH 502 1BH K Developer 29.87 321.52 530.5 1 69 FIFTH s03 1BH K Developer 29.87 321..52 530.51 70 F IFTH 504 1BH K Developer 29.87 321..52 530.51 71. FIFTH 505 1BH K Developer 29.87 321".52 530.5 1 72 FIFTH 506 1BH K Developer 29.87 321..52 530.51 73 FIFTH 507 1BH K Developer 29.87 32L.52 530.51 74 FIFTH s08 lBHK Developer 29.87 321.52 530.51 75 FIFTH 509 1BH K Developer 29.87 32L.52 530.51 76 FIFTH 510 1BH K Developer 29.87 321..52 530.51 FIFTH 511 1BH K Developer 29.87 321.52 530.5 1 78 FIFTH 51.2 1BH K Developer 29.87 32L.52 .530.51 79 FIFTH 513 1BH K Developer 29.87 321..52 530.51 80 F IFTH 51.4 1BH K Developer 29.87 321.52 530.51 81 SIXTH 601 lBHK Developer 29.87 321.52 530.5 1 82 SIXTH 602 1BH K Developer 29.87 321..52 530.51 83 SIXTH 603 1BH K Developer 29.81 321.52 530.51 84 SIXTH 604 1BH K Developer 29.87 321.s2 530.51 , ,==+qlK 85 S IXTH 60s Develooer 29.87 321.52 530.5 1 ,^\ ()sr'.\ ',4 ery Y ,y'/" ruz It Yiac'97 ,o IJ 6ffi0 B6 S IXTH 606 1BH K Deve ope r I 29.87 32L.52 530.5 1 B7 SIXTH 607 lBHK Developer 29.87 321_.52 530.5 1 88 S IXTH 608 lBHK Developer 29.87 32L.52 530.5 1 B9 SIXTH 609 1BH K Developer 29.87 32L.52 530.51 90 SIXTH 610 1BH K Developer 29.87 32L.52 530.5 1 91. S IXTH 61.1 1BH K Develope r 29.87 321.52 s30.51 92 SIXTH 61.2 1BH K Develope r 29.81 32L.52 s30.51 93 SIXTH 613 1BH K Developer 29.87 321.s2 530.51 94 SIXTH 61"4 1BH K Developer 29.81 321.52 530.51 95 SEVENTH 701 1BH K Developer 29.87 321.52 530.51 96 SEVENTH 702 1BH K Developer 29.87 321.s2 530.51 9l SEVENTH 703 1BH K Developer 29.81 32L.52 530.51 98 SEVENTH 704 1BH K Developer 29.87 32L.52 530.51 99 SEVENTH 705 1BH K Developer 29.87 32L.52 s30.51 100 SEVENTH 706 1BH K Developer 29.87 321.s2 530.51 101 SEVENTH 707 1BH K Developer 29.87 321..52 530.51 L02 SEVENTH 708 1BH K Developer 29.87 32t.52 530.51 103 SEVENTH 709 1BH K Developer 29.87 32L.52 530.51 L04 SEVENTH 710 1BH K Developer 29.87 32L.52 530.51 105 SEVENTH 7L] 1BH K Developer 29.87 32L.52 530.51 106 SEVENTH 71-2 1BH K Developer 29.87 32L.52 s30.51 L07 SEVENTH 7\3 1BH K Developer 29.87 321..52 530.51 108 SEVENTH 714 1BH K Developer 29.87 321..52 530.51 Total 3163.8 34055.14 s6190.99 List of sold units ,- "Rustagi Aarambh 2.0" Y NA ! I"/ \h,/