Indicative format for Import LC application form

The Branch Manager,

ICICI Bank Ltd.,
9 A Phelps building Connaught Place Date: 23.05.2024
New Delhi 110001 Place:
I/We, hereby request you to open an Irrevocable Letter of Credit (“Credit”), as per details given
below:
Sanction limit Limit Backed by Fixed Deposit(FD)
I/We hereby agree & confirm that the I/We hereby agree to facility agreement & its
Credit is subject to the terms & conditions terms & conditions as hosted on
as contained herein & in the Facility https://www.icicibank.com/termscondition/
Agreement signed from time to time issuance-of-lc-backed-by-fd.

I/We authorize you to debit our account no: (1002348946) for margin money (if any) & for charges. GST number:
……
Declaration-cum Undertaking
• This credit is subject to the UCPDC & latest version of ICC publications. In case of electronic
presentation under credit, the latest version of e-UCP will be applicable.
• We hereby declare that all forex transaction, as may be entrusted by us to the bank from time to time will be in
strict conformity with the prevailing of provision of FEMA, 1999.
• We undertake to submit evidence of import (Bill of entry/postal appraisal form/ Custom assessment certificate etc.)
immediately upon clearance but not later than 3 months of retirement or acceptance of documents.
• I/We are aware of the policy condition, for import of goods under the above HSN code, & we hereby confirm that
the required condition is fulfilled by us, as specified under DGFT Circulars/Guidelines/Notification/Conditions &
Foreign Trade Policy / Guidelines of Government of India, Ministry of Commerce & Industry, Department of
Commerce issued from time to time.
• We hereby affirm, declare & undertake that (Tick as applicable out of below)
We are eligible to import the goods / services under this credit as per the latest Foreign Trade Policy (FTP).
The goods / services imported are covered under restricted category as per the latest Foreign Trade Policy & the
original Import License etc., under which the goods / services imported is enclosed for endorsement.
• We hereby authorize you to issue the credit with the instructions provided in this LC application (while ignoring
any other document if attached or provided separately) and also to include banks standard clauses if any in case not
provided in the application.
I / We further declare that the undersigned has/have the authority to give this declaration &undertaking on behalf of
the firm/company & further acknowledge, agree, confirm & undertake to indemnify ICICI Bank for any losses,
claims, damages, fines or penalties (including attorneys’ costs) that ICICI Bank may incur or suffer due to any act or
omission by me/us with regard to any compliances that I/we am/are required to adhere to.
• Wherever signature by the authorized signatory has been indicated to be put in and on any other page initials
with /without company stamp will suffice.
Authorized Signatory(S) & Company Stamp

 Import LC  Reimbursing Financing LC

Previous LC reference (if any):

First Advising Bank Our IBOB wherever applicable

Advising / Receiver Bank SWIFT Code: CITISGSG
40A ** Type of L/C  Irrevocable  Irrevocable Transferable
31D ** Date & Place of Expiry 21.08.2024
50 ** Name & Address of the Panacea Biotec LTD
Applicant Malpur, Baddi
Tehsil Nalagarh, Dist Solan
Solan, Himachal Pradesh
173205
India
59 ** Name & Address of the Becton Dickinson Holdings Pte Ltd
Beneficiary 2 International Business Park Road
Singapore 609930
32B ** Currency & Amount (USD)
$56,820.00
Amount in words Fifty-six thousand eight hundred twenty dollars and zero
cents.
39A Percentage Credit Amount +/- %
Tolerance
39C Additional Amount Covered Usance Interest
Others ( Please specify) :

41A/D Credit Available with &  Any bank  Advising bank (specify):
** Credit Available by  Sight Payment  Acceptance 
Deferred payment   Negotiation
42C Usance of Drafts at...  ……… days from date of shipment  SIGHT
Others (please specify):
42A/D Drawee Issuing Bank/  Negotiating Bank / Confirming
Bank
42P Deferred Payment Details (If Applicable) NA
43P Partial Shipments  ALLOWED  NOT ALLOWED
43T Transhipment  ALLOWED  NOT ALLOWED
44A Place of Taking in Charge/Dispatch from .../Place of Receipt

44E Port of Loading/Airport of Departure : Becton Dickinson Holdings Pte Ltd,2 International Business
Park Road, Singapore

44F Port of Discharge/Airport of Destination :

44B Place of Final Destination/For Transportation to .../Place of Delivery : Panacea Biotec Ltd, Malpur,
Baddi Tehsil Nalagarh, Dist Solan, Himachal Pradesh, India

44C Latest Date of Shipment 21.07.2024

45A Quantity & Description of goods 1. HYPAK SCF 1ML RF PRTCFM27 EB PP
&/or services (90,000.000)
2. HYPAK BSCF1-3ML FM257/2GR SI1000 WWD
PPL
(92,400.000)
3. HYPAK PR1ML PSTYR CRISTAL REDUCED
(90,000.000)
4. BACKSTOP1-3ML PP CLEAR
(90,000.000)

HS Country of Origin: 1. MEXICO

CODE 2. USA
3. FRANCE
4. FRANCE
Shipment Terms  CIF  FOB  CFR  Others 
Type of Goods   Capital  Non Capital
46A Documents Required
 Signed commercial invoice (s) in copies certifying that the goods supplied are as per underlying contract of the
applicant. Gross FOB/CIF/CFR value of the goods before deduction of agent commission, if any, must not exceed
the maximum credit amount.
 Full set of signed clean "on board" ocean bills of lading made out to order & blank endorsed marked freight
prepaid/freight payable at destination evidencing shipment of merchandise described above. Bills of lading must
state full name & address of both applicant & ICICI Bank Limited as parties to be notified. Short form, third party,
freight forwarders & lash Bills of lading are
Not acceptable.
 Airway bill (original plus three copies) issued by airline or its agent made in the name of ICICI Bank Limited for
account applicant evidencing the current airfreight of goods. Airway bill should be marked Freight prepaid/to collect
Airway bills must state full name & address of applicant & ICICI Bank Limited as parties to be notified. Airway bill
must indicate flight number & date. :

 Marine/AVIATION INSURANCE Policy or Certificate (ORIGINAL PLUS COPY) dated not later than the date
of Bills of Lading/Airway Bill signed & issued by insurance company made to order & BLANK ENDORSED for
110 % OF CIF value , covering Institute Cargo Clause (A), with extended cover for transshipment risks, if
applicable, theft, pilferage, breakage & non-delivery, Institute War Clause (Cargo) & Institute Strikes Clause
(Cargo), institute transit clauses for Warehouse to Warehouse cover with claims payable in India irrespective of
percentage.

 Insurance covered by the applicant, copy each of fax with confirmation, intimating the applicant directly on fax
No.……..& insurance company directly conveying full details of shipment/dispatch such as value & brief
description of goods, name of shipping company/airlines, number & date of bill of lading/airway bill, vessel
name/flight number…… & insurance policy/certificate no & date, within 48 hours of shipment/dispatch.
Documents require (Invoice, Packing List, B/L,
  Certificate of origin issued by chamber of commerce (induplicate)
 Shipping company's or their agent's certificate (in duplicate) stating that the carrying vessel named in the bill of
lading is a Seaworthy vessel, not more than twenty years old, has been approved under institute classification clause
(class maintained equivalent to Lloyds 100 A1) & has been registered with an approved classification society
(certificate to specify the name of the classification society)
 Signed packing list (in quadruplicate)

47A Additional Conditions

  All Documents must be in English:

  All Documents must mention the LC number & Date:
 Discrepancy fee of USD 100/ EUR 100/ GBP 100/ JPY 10000 or equivalent to
USD 100 per set of discrepant documents will be deducted from bill proceeds.
 Negotiating bank/ presenting bank must send complete set of documents in
One lot to: -------
 Notwithstanding the content of article 16 of UCP 600, in the event that we observe discrepancies in documents
we shall provide our notice of refusal in accordance therewith & if we elect to contact the applicant for a waiver, &
we receive an acceptable waiver, we shall effect settlement according to the LC terms & the documents will be
released without further notice to you, unless we are in receipt of your instruction to the contrary prior to such
release.
 This LC would be subject to US, EU, UN, INDIA and/or other sanctions (including due to use of a correspondent
bank). Consequently, processing of this LC would be subject to the same.
 Documents produced by reprographic process/computerized carbon copies are not Acceptable unless marked
original & signed.
 The transport document – must not bear by stamp or otherwise to cost additional to the freight charges.
Others, please specify: ----

71D Charges Within India :  Applicant /  Beneficiary

Outside India :  Applicant /  Beneficiary
48 Period of Presentation Within 21_days from the date of shipment
 Others (please specify):
49 ** Confirmation Instruction Confirm-- May Add---  Without Charges payable by  Applicant /
 Beneficiary
58A/D Requested Confirmation Party Citibank NA, Singapore
53A Reimbursing Bank USD : ICICI Bank Limited, Hongkong
EUR: ICICI Bank Limited, German
Charges payable by  Applicant /  Beneficiary
57A/D Name & Address of At the discretion of ICICI Bank
Advising Bank Others (Please specify))
72Z Sender to Receiver Beneficiary contact person’s name: Madhu Pawan
Information /Beneficiary Email ID:
details Phone/ Fax No:
** indicates mandatory fields

Authorized Signatory(S) & Company Stamp

 Annexure D- Application for Facilities backed by 100% Fixed Deposit (Non-Fund Based)
Date: 22/12/2023

The Branch Manager,

ICICI Bank Ltd.,
9 A Phelps building Connaught Place
New Delhi 110001

We, Panacea Biotec Limited (“Borrower”), hold current/ savings account number 000705052908 with ICICI Bank (the
“Account”). I/ We wish to avail Bank Guarantee (“BG”)/Letter of Credit (“LC”) (“the Facility”) as per format enclosed for
the purpose and as per details given below. I / We request ICICI Bank Limited (“ICICI Bank”) to issue a one-time limit of Rs.
___________/- (“the Limit”) for availing BG/ LC facility in the Account against the security of the Fixed Deposit (“FD(s)”)
described below:

Particulars Details

Type of Bank Guarantee Performance/ Financial/ Others:

Beneficiary Name Becton Dickinson Holdings Pte Ltd

2 International Business Park Road

Beneficiary Address
Singapore 609930

(USD)
Currency & Amount
$56,820.00

Amount of Bank Guarantee/Letter of Credit (in

Fifty-six thousand eight hundred twenty dollars and zero cents
words)

Purpose Pharmaceutical

BG? BC Tenor

LC / BC Expiry 21.08.2024

Claim Period* (if any) 90 Days

Beneficiary Bank IFSC Code*

*Applicable for BG only

Details of the FD(s) arranged as security

Name of the Depositor(s) FD No. / FD FD Date Final Maturity Date of FD Amount (in Rs.)
(the “Depositor”) Application No.

PANACEA BIOTEC LTD

Open New FD(s)

We Panacea Biotec Ltd (the “Depositor”) authorize ICICI Bank to debit my / our current/ savings account no. with ICICI Bank
for opening a new FD(s) as per following details

Name of the Depositor(s) Amount (in Period of FD(s) Renewal Instruction Type of FD(s)
(the “Depositor”) Rupees) of
FD(s)

-NA- - NA- Auto-renewal mode Monthly interest

payout
Quarterly interest
payout
Interest payout on
maturity
 (1) n relation to the FD(s), We the Depositor agree and confirm that:
(a) all terms and conditions, applicable to FD(s) with ICICI Bank and as uploaded on www.icicibank.com, not expressly
over-ridden herein, shall continue to apply in relation to the FD(s) and the same shall be binding on me / us including
but not limited to, any alteration, changes or revision, as may be done by ICICI Bank, at its sole discretion, applicable
from time to time.
(b) ICICI Bank is authorized to renew the FD(s) during the subsistence of the Facility or for the tenor of any or all of the BG/ LC so
issued under the Facility (ies).
(c) We hereby agree and confirm that notwithstanding anything contained herein, ICICI Bank shall continue to have
security interest over the FD for a period of 1 (one) year from the expiry of the BG/LC when the claim period specified
above is less than 1 (one) year.
Interest Rates, Commission and Charges: (a) we agree and undertake to maintain cash margin and pay interest, charges, fees
and commissions on the BG / LC facility at the following rates:

Cash Margin to be Upfront Upfront Interest payable on the Other Charges/ Fees
maintained as per type of Commission Processing Fee non-payment of the BG /
request for the Facility LC on due date

100% for domestic BG/LC/ ( (

BC with cumulative FD
interest payout; or
____% per I-MCLR1 ____ + ____%
105% for monthly/quarterly annum on the Spread
FD interest payout; or amount of
BG /LC/ BC
110% and above for foreign
BG/LC/ BC

(b) We authorize ICICI Bank to debit the Account towards additional margin requirements in case of market movement in
foreign currency resulting in the amounts of the cash / FD(s) not satisfying the cash margin requirement. We undertake to bring
in additional cash/FD(s)/security to the satisfaction of ICICI Bank.

(c) I/ we agree and undertake to maintain the above margin for the entire validity of the Limit and until all dues so payable by
me/ us under the Facility are repaid by me/ us to the satisfaction of ICICI Bank.

(d) I/ We agree and undertake that at no point of time shall the collective amount of the BGs and/ or LCs issued under the
Facility exceed the Limit.

(2) I/ We hereby declare and confirm that: (a) I/ We, the Borrower and/ or the Depositor, confirm that I/ we have paid all taxes
payable under applicable taxation laws and undertake to pay all taxes (without any demur, protest or delay) during the currency
of the Facility; (b) the Facility(ies), the FD(s) or any part thereof is not in contravention or evasion of the provisions of all or any
applicable laws; (c) We are not availing any fund based/non fund based facilities from any other bank(s); or as on date of this
Application, following credit facility(ies) are being availed by me/us :
Name of the bank/financial institution & branch Fund based (in millions) Non Fund Based (in
millions)
NA NA NA
(d) We are not in RBI defaulter list and the credit facilities availed by us are within our assessed bank finance limits and none of
the other credit facilities with other banks/financial institutions are classified as non-performing assets.

(3) I / We further agree to submit a request letter in the form and manner as prescribed by ICICI Bank at the time of issuance of each
BG/ LC under the Facility and agree that non-refundable processing fee along with all statutory levies, if any, at such rate as
may be applicable, shall be payable by us up front.
I/ We agree that notwithstanding anything contained in this Application, ICICI Bank shall be at full liberty to not

(4) Issue any BG/ LC or any subsequent BG/ LC if ICICI Bank, in its sole discretion, may deem the same to be fit.
(5) I/ We agree that upon the issuance of any BG/ LC under the Facility, the Limit shall be reduced accordingly to the extent of such

1
“I-MCLR” means the percentage rate per annum decided by the ICICI Bank and announced / notified by ICICI Bank from time to time as its Marginal Cost of
Funds Based Lending Rate (“MCLR”) in terms of the guidelines of Reserve Bank of India. ICICI Bank publishes I-MCLR for five tenures namely overnight, one-
month, three-month, six-month and one year.
 amounts of the BG/ LC /so issued.
(6) We shall, unless otherwise agreed to by ICICI Bank, repay to ICICI Bank forthwith on demand the Facilities / such of the
amounts as may be outstanding in respect of the Facilities, together with all interest, costs, charges, expenses and monies
whatsoever stipulated in, or payable in respect of the Facilities. I / we also authorize ICICI Bank to debit the above Account or
liquidate the FD(s) mentioned above to make payments in case of invocation of the BG by the Beneficiary or upon occurrence
of an Event of Default even though it may lead to pre-mature closure of the FD(s).
(7) I/ We, the Borrower and/ or the Depositor, hereby give specific consent to ICICI Bank for submitting/ disclosing the: (a.)
‘financial information’; and (b.) ‘security interest’ as defined under the Insolvency and Bankruptcy Code, 2016 (including all
amendments made thereto) (the “IBC”), in respect of the Facility and the security interest created on the FD(s), from time to time,
to ‘Information Utilities’ as defined therein, and directions issued by Reserve Bank of India to the banks from time to time and
hereby specially agree to promptly authenticate and verify the ‘financial information and information relating to ‘security
interest’ submitted by ICICI Bank, as and when requested by Information Utilities.
(8) We have read and understood the “Terms and Conditions for OD/LC/BG/LUT/Inland bill discounting /Export finance (pre-
shipment/post-shipment/both) facility against FD / RD”, duly registered on June 17, 2014 with the sub-registrar assurance V,
New Delhi vide registration no. 649 in book no.4, vol no. 4051 from pages 82 to 95 (the “Terms and Conditions”), a copy of
which has been handed over to me. We agree to abide and ensure that the Depositors abide, by the same at all times.
(9) Until all amounts as may be outstanding in respect of the Facilities, together with all interest, costs, charges, expenses and
monies whatsoever stipulated in, or payable in respect of the Facilities, actual or contingent, are fully paid to the satisfaction of
ICICI Bank, We the Depositors, hereby: (a) create security interest and charge over the aforesaid FD(s) and all underlying
amounts in favour of ICICI Bank to secure the Facilities; (b) expressly waive all rights possessed by me/ us in relation to the
aforesaid FD(s) and the underlying amounts; (c) expressly discharge ICICI Bank of all its obligations in relation the aforesaid
FD(s): (d) expressly authorize ICICI Bank to set off such monies due from me/ us/ the Borrower against any or all of the
aforesaid FD(s); (e) confirm that there are no subsisting security interests / encumbrances on / assignments of the aforesaid FD(s)
(other than in favour of ICICI Bank) and I/ We agree not to create security interest on / assign / dispose of / encumber such FD(s)
to any person; (f) undertake to and shall ensure that the details of the security created in favor of ICICI Bank over the aforesaid
FD(s) shall be expressly mentioned in each of my/ our financial statements at all points of time until the release of such security
by ICICI Bank; (g) declare and confirm that ICICI Bank shall be entitled to hold the aforesaid FD receipt(s) and I/ we shall not be
entitled to demand or receive the same; (h) declare and confirm that the security interest created in favour of ICICI Bank is valid
and enforceable in all respects; (i) agree to comply with and abide by the Terms and Conditions, to the extent applicable to me/
us. Nothing herein contained shall prejudice or adversely affect any general or special lien or right to set-off to which ICICI Bank
is or may by law or otherwise be entitled or any rights or remedies of ICICI Bank including in respect of any present or future
security, guarantee, obligations of the Borrower/ Depositor.
(10) In case the Borrower/ Depositors are a partnership firm, the partners of the Borrower/ Depositor hereby declare that the
partners named in the signature clause are the only partners of the Borrower/ Depositor and they undertake to advice in writing of
any changes in the partners or constitution of the partnership firm of the Borrower/ Depositor. The partners of the Borrower/
Depositor further declare that they are authorized to avail the Facility(ies) / provide the security on the aforesaid FD(s) and
execute all transaction documents in relation thereto and are jointly and severally liable to ICICI Bank for the performance of all
obligations under the transaction documents.
(11) The occurrence of any one or more of the following events or apprehension thereof shall constitute an event of default (“Event
of Default”):
a. Default has occurred in the payment of any monies in respect of the Facility on the due dates (whether at stated maturity,
by acceleration or otherwise) for payment thereof or otherwise and/or in the performance of any covenant, condition or
agreement on the part of the Borrower and/or any other relevant person under the Application, the Terms and the
transaction documents) ;
b. If any petition or application in relation to insolvency or bankruptcy resolution of the Borrower/Depositor (including
without limitation, corporate insolvency resolution process and bankruptcy process under the IBC is filed before any court,
tribunal or authority of competent jurisdiction, or the Borrower(s)/Depositor(s) has become bankrupt or insolvent or is
dissolved.
If any step or action has been taken for reorganization, winding up or dissolution of a Borrower/Depositor or if a receiver or
liquidator (including provisional liquidator) has been appointed or allowed to be appointed over all or any part of the assets of the
Borrower(s)/Depositor(s) or if any attachment or distrains has been levied on the
a. Borrower’s/Depositor’s assets or any part thereof or certificate proceedings have been taken or commenced for recovery of
any dues from the Borrower/Depositor or if one or more judgments or decrees have been rendered or entered against the
Borrower/Depositor.
b. It is or becomes unlawful for the Borrower/Depositor and/or any other relevant person (including the Bank) to perform any
of their respective obligations under the transaction documents; (b) The Borrower/Depositor and/or any other relevant
person (excluding the Bank) fail or is / are unable to perform any of their respective obligations under any other
agreement / document.
c. Security in Jeopardy: If in the opinion of ICICI Bank, the security for the Facility (ies) is in jeopardy or ceases to have
effect or if any of the transaction documents executed or furnished by or on behalf of the Borrower becomes illegal,
invalid, unenforceable or otherwise fails or ceases to be in effect or fails or ceases to provide the benefit of the liens, rights,
powers, privileges or security interests purported or sought to be created thereby.
d. Material Adverse Event: Occurrence or existence of one or more events, conditions or circumstances (including any change
in law), which in the opinion of ICICI Bank could have material adverse effect on the (i) obligations of the
Borrower/Depositor under the Facility or in relation to the security (ii) businesses, operations or financial conditions of the
Borrower / Depositor or their project(s).
Cross Default: Borrower is unable or has admitted its inability to pay any of its indebtedness to a financial creditor or any bank
or financial institution (secured or otherwise), whether at stated maturity, by acceleration or otherwise. Any financial
creditor or bank or financial institution cancels and/or recalls any indebtedness of the Borrower, as a result of an event of
default (however described). Any Group Company or Associate Company of the Borrower has defaulted in payment of any
of its Indebtedness to the Bank, whether at stated maturity, by acceleration or otherwise.
For the purpose of this clause:
“Group Company” shall mean and include:
(a) any company which is the holding company or the subsidiary company of the Borrower, or
(b) any company under the control of or under common control with the Borrower
“Associate Company” shall have the meaning assigned to it under the Companies Act, 2013.
Name of the Borrower:

Signed and delivered for and on behalf of M/s. Panacea

Biotec Ltd .authorized signatory

Mr.. Rajesh Maggu

Mr. Abhye Kumar Jain

Ms. Anshu Rastogi

Signature

Name of the Depositor:

Signed and delivered for and on behalf of M/s. Panacea

Biotec Ltd .authorized signatory

Mr.. Rajesh Maggu

Mr. Abhye Kumar Jain

Ms. Anshu Rastogi

Signature
 For Internal use only – Appraisal Note

Standard NWC Required Yes / No

“Bank Acknowledgment”

(Relationship Manager / Bank Official not below the rank of AM-I must acknowledge copy of the application and ensure that
application contains all the Borrower’s and the Depositor’s signatures on same page)

Declaration:

I confirm that I have provided a copy of the application form to the borrower as an acknowledgement and that the
1.
application form has been signed by Borrower and Depositor in my presence.
2. I confirm that the documentation specified in the i-Legal – DMS for the facility will be executed by the client before
disbursement or issuance. None of the borrower or their partners/directors are in the RBI’s / RBI’s Caution list/
ECGC /ICICI Bank list of defaulter’s. The borrower or their partners /directors etc. are not facing any litigations which
have been initiated by other lenders, the borrower is not a wilful defaulter or appears in the RBI caution list.
3. I confirm that I have conducted the due diligence on the customer is in line with the KYC guidelines and I have also
obtained all documents mentioned in prevailing KYC guidelines. The validity periods of all facilities are co-terminus
with the FD maturity date.
RECOMMENDATION:

The approving authority is requested to sanction the above facility.

Approving Authority:

We have gone through the credit related authorization as currently in force and having done so, confirm the approval of above
proposal falls within the authority

Employee ID : Employee ID :

Name : Name :

Grade : Grade :

Signature : Signature :