To, Sanction Date: 25/07/2025
SHRESHTHA AUTOMOTIVES PRIVATE LIMITED
MR. Vishnu Prajapati
SEHORE RURAL
Sub: Sanction Letter
We hereby inform you that we have sanctioned a vehicle to MR. Vishnu Prajapati, the Loan Amount sanctioned is Rs.300000.00 lacs
each Unit.
Please convey your acceptance of this sanction letter within 30 days from the date of its issuance failing which this sanction letter shall
stand withdrawn unless otherwise extended by IDFC FIRST Bank Limited. Upon acceptance of this sanction letter, kindly coordinate
with the dealer for delivery of the vehicle after completing the required documentation and formalities
Disbursement Amount calculated as follows:
ASSET Model MAXIMA X WIDE
Asset Cost Rs. 370000.00/-
Loan Amount/Finance Amount Rs. 300000.00/-
No of Vehicle 1 Unit
Subvention
PF & Other Charges Rs. 7745.00/-
Tenor 48 months
Amount to be Disbursed Rs. 289443.00/-
IRR % 22.00 %
#charges are Inclusive of GST
Sold To SHRESHTHA AUTOMOTIVES PRIVATE LIMITED
Hypothecation IDFC FIRST BANK LTD
Subject to Credit conditions.
1. Original Invoice with the lien of IDFC First Bank.
2. The payment is being made at the request of the customer/dealer and IDFC First bank will not be responsible for any
delay in delivery of the vehicle.
3. RCU to be positive, Hunter to be positive and FI to be positive.
4. Cibil clearance to be documented prior disbursement.
5. Case is approved in principle subject to pending documents to be submitted & all positive credit check to be done.
6. This sanction letter is in principle approval this letter is produced on customer and dealer request.
7. The final loan amount will be disbursed only on satisfactorily receipts of the loan document as intimated by IDFC FIRST
Bank Limited
8. It is assumed that you have inspected the vehicle and satisfied yourself of the quality thereof. IDFC FIRST Bank Limited
will not be liable for any defect or delay in delivery or any service issue concerning the Dealer/ RTO/ Insurance Company
or any other intermediary involved
9. Processing fee and other charges applicable as per the schedule of charges
10. The para banking services provided by the Bank to the Borrowers for financial products shall be strictly on a non-risk
participation basis.
11. Borrower shall be liable to pay the Interest on outstanding loan balance for the duration it remains outstanding. Further,
such Interest calculation shall commence from the actual date of disbursement of the said loan. In the event of
disbursement through cheque, Interest shall be calculated from the date of handover of the cheque.
12. Notwithstanding anything to the contrary contained in this Agreement, Borrower is aware that insurance is
non-mandatory and offered only to customer who voluntarily choose to opt for the same and in case if the loan is
cancelled, the insurance policy will also get cancelled automatically by the Insurance Company and the certificate of
insurance (if received/issued) will remain cancelled/ revoked by the said Insurance Company. Bank may receive the
commission / fees for solicitation of insurance products (if any) and same will be available on Bank website
https://www.idfcfirstbank.com/personal-banking/investments-and-insurance under Insurance Tab
It is important that copy of the RC book is submitted to us at the earliest duly hypothecated in favour of IDFC FIRST Bank Limited.
In case of cancellation entire Disbursement amount including Stamp duty, PF and EMI/Pre EMI to be refunded to the bank only.
Please acknowledge a copy of this letter in acceptance of the Terms & Conditions mentioned to overleaf.
Authorised Signatory
IDFC FIRST Bank Limited
IDFC FIRST Bank Limited (formerly IDFC Bank Limited)
Naman Chambers, C 32, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Tel: +91 22 7132 5500 Fax: +91 22 2654 0354
Registered Office: KRM Towers, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai 600031. Tel: +91 44 4564 4000 Fax: +91 44 4564 4022
CIN: L65110TN2014PLC097792
[email protected] www.idfcfirstbank.com
