AGREEMENT FOR LOAN AGAINST LETTER OF CREDIT

Loan Agreement Ref No.Vedant Ent- Sinqa Ind / Mumbai /2024-2025 dated 11-03-2025

This document is a Agreement for Loan against Letter Of Credit entered into as of date
11th March 2025 at Mumbai between the following parties:

THE BORRWER : hereinafter called as “BORROWER or PARTY-1” .

NAME (COMPANY/FIRM) M/s. VEDANT TRADERS

GST (COMPANY/FIRM) 27AGKPC4058Q1ZW

Hardev Yadav Chawl, 1/1, Dubey Compound,
ADDRESS
P N Road, Bhandup West, Mumbai Suburban

CITY/PIN MUMBAI – 400 078

STATE/PROVINCE MAHARASHTRA , INDIA

REPRESENTED BY Mr. VINOD MADHUKAR CHANDANSHIVE

TITLE/DESIGNATION PROPRIETOR

AADHAR NUMBER 4826 1322 5577

EMAIL

CO- BORRWER : hereinafter called as “CO-BORROWER or PARTY-2” .

NAME COMPANY/FIRM) M/s. SINQA INDUSTRIES LLP

GST (COMPANY/FIRM) 24AESFS5811H1ZR

ADDRESS 54 B P, 56 1 A 2 P, 56 1 B P,Survey No. 42-BP,46-A-2 P,

46- BP, 47-A-2 P, 47-K-2 P, Plot no. 46, Lalpar, Behind
Honest Hotel, Morbi.
CITY/PIN MORBI - 363642

STATE/PROVINCE GUJARAT , INDIA

REPRESENTED BY MR.JITENDRA VALAMJIBHAI FEFAR

TITLE/DESIGNATION Authorised Signatory

AADHAR NUMBER 5003 3417 3628

EMAIL

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 THE LENDER : hereinafter called as “LENDER or PARTY-3” .

NAME COMPANY/FIRM) M/s. NOVASATUM FOODS PRIVATE LIMITED

GST (COMPANY/FIRM) 27AAHCN0709M1Z9

ADDRESS 21st Floor, 2106, Solus, Ghodbunder Road,

Hiranandani Estate,
CITY/PIN Thane

STATE/PROVINCE Maharashta

COUNTRY: India

REPRESENTED BY MR. SAURABH BOHRA

TITLE/DESIGNATION Director

AADHAR NUMBER 370577506716

EMAIL [email protected]

WHEREAS, all together shall be referred to as “PARTIES”.

WHEREAS: A. The Borrower (M/s. Vedant Traders) has requested the Lender to extend a loan
facility against a Letter of Credit ("LC") issued or Transfer by “M/s. Vedant Traders” from
(Bank Name & Branch Address)

The Lender has agreed to extend the loan based on the security of the Letter of Credit , subject
to the terms and conditions set forth herein.

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NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties agree as follows:

1. LOAN FACILITY:

1.1. The Lender agrees to provide the Borrower or Co-Borrower a loan facility of 80% of the
Total letter of Credit Value, which shall be disbursed against Letter of Credit Credited into
Lenders Account issued by Bank ………..

1.2. The LC must be irrevocable, unconditional, and in favour of the Lender.

1.3 Lender will transfer loan Amount either in Borrowers Account or Sub Borrowers account
as per instructions of Borrower.

1.4 Loan Amount Transfer into Following Borrower Bank Account:

Name of Borrower:
Account Number:
FSI Code:
Bank Name:
Bank Branch Address:

2. TERMS OF REPAYMENT:

2.1. The Borrower or Co-Borrower shall repay the Loan in instalments or Full Amount
commencing from Date …………… and shall make the final repayment by agreed maturity date
of Agreement.

2.2. The Loan shall bear interest at the Rate of 12% per annum, payable on a
Monthly/Quarterly basis.

2.3 Loan tenure shall be either 90 days or 180 days.

3. SECURITY & COLLATERAL:

3.1. The Borrower or Co-Borrower shall assign all rights, title, and interest in the Letter of
Credit to the Lender as security for the Loan.

3.2. The Lender shall have full rights to enforce payment under the LC in the event of default
by the Borrower.

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4. REPRESENTATIONS AND WARRANTIES:

4.1. The Borrower or Co-Borrower represents and warrants that:

a) It is duly incorporated and has the legal capacity to enter into this
Agreement;
b) The Letter of Credit is valid, enforceable, and free from any defects or
encumbrances;
c) There are no existing legal or financial impediments preventing the Borrower
from fulfilling its obligations hereunder.

5. EVENTS OF DEFAULT:

5.1. The following shall constitute an event of default:

a) Failure by the Borrower or Co-Borrower to repay any instalment of the Loan

or interest thereon;

b) The LC being dishonoured, revoked, or otherwise deemed unenforceable;

c) Any misrepresentation or breach of warranties by the Borrower.

5.2. Upon default, the Lender shall have the right to demand full repayment of the
Loan, enforce the LC, and exercise any other legal remedies available.

6. INDEMNIFICATION:

6.1. The Borrower or Co- Borrower agrees to indemnify and hold harmless the
Lender from any losses, claims, or damages arising from non-payment or
defects in the Letter of Credit.

7. GOVERNING LAW & DISPUTE RESOLUTION:

7.1. This Agreement shall be governed by and construed in accordance with the laws of
Mumbai, Maharashtra Jurisdiction.

7.2. Any disputes arising out of or in connection with this Agreement shall be settled through
arbitration in Mumbai, Maharashtra, in accordance with the rules of Arbitration Institution
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8. GENERAL PROVISIONS:

8.1. This Agreement constitutes the entire agreement between the parties and supersedes all
prior agreements or understandings.

8.2. Any modification to this Agreement shall be in writing and signed by all parties.

8.3. If any provision of this Agreement is held to be invalid or unenforceable, the remaining
provisions shall continue in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

9. BANKING INFORMATION:
9.1 The BORROWER or PARTY-1 and their Banking Details:

NAME M/s. VEDANT TRADERS

(COMPANY/FIRM)

GST (COMPANY/FIRM) 27AGKPC4058Q1ZW

Hardev Yadav Chawl, 1/1, Dubey Compound,
ADDRESS
P N Road, Bhandup West, Mumbai Suburban

CITY/PIN MUMBAI – 400 078

STATE/PROVINCE MAHARASHTRA

COUNTRY: INDIA

REPRESENTED BY Mr. VINOD MADHUKAR CHANDANSHIVE

TITLE/DESIGNATION PROPRIETOR

EMAIL

BANK DETAILS

BANK NAME HDFC BANK

ACCOUNT NAME VEDANT TRADERS

ACCOUNT No. 99998806607888

IFSC Code HDFC0000816

BRANCH AMBERNATH WEST, MAHARASHTRA

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9.2 The CO-BORROWER or PARTY-2 and their Banking Details:

NAME COMPANY/FIRM) M/s. SINQA INDUSTRIES LLP

GST (COMPANY/FIRM) 24AESFS5811H1ZR

ADDRESS 54 B P, 56 1 A 2 P, 56 1 B P,Survey No. 42-BP,46-A-2 P,

46- BP, 47-A-2 P, 47-K-2 P, Plot no. 46, Lalpar, Behind
Honest Hotel, Morbi.
CITY/PIN MORBI - 363642

STATE/PROVINCE GUJARAT

COUNTRY: INDIA

REPRESENTED BY MR.JITENDRAVALAMJIBHAI FEFAR

TITLE/DESIGNATION Authorised Signatory

EMAIL

BANK DETAILS :

BANK NAME HDFC BANK

ACCOUNT NAME SINQA INDUSTRIES LLP

ACCOUNT No. 50200089158482

IFSC Code HDFC0000307

BRANCH MORBI GUJARAT

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 9.3 The LENDER or PARTY-2 and their Banking Details:

NAME COMPANY/FIRM) M/s. NOVASATUM FOODS PRIVATE LIMITED

GST (COMPANY/FIRM) 27AAHCN0709M1Z9

ADDRESS 21st Floor, 2106, Solus, Ghodbunder Road,

Hiranandani Estate,
CITY/PIN Thane

STATE/PROVINCE Maharashta

COUNTRY: India

REPRESENTED BY MR. SAURABH BOHRA

TITLE/DESIGNATION Director

EMAIL [email protected]

BANK DETAILS :

BANK NAME ICICI Bank

ACCOUNT NAME M/s. NOVASATUM FOODS PRIVATE LIMITED

ACCOUNT No. 088405003557

IFSC Code ICIC0000884

BRANCH Manpada, Thane

NOTE : If these details provided are found incorrect or not verified, then this Agreement
will become invalid and stands null and void.

In witness whereof, the PARTIES hereto declare that they have read and understood this LOAN
AGAINST LETTER OF CREDIT and are fully aware of the interpretation of all the provisions,
terms and conditions herein and further that they have signed by their hand below, and have
ACCEPTED and APPROVED all covenants, terms and conditions of this Agreement.

Date: Place :
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 BORROWER ACCEPTANCE: CO-BORROWER ACCEPTANCE:

M/s. VEDANT TRADERS M/s. SINQA INDUSTRIES LLP

MR. VINOD MR.JITENDRA
Name: Name:
MADHUKAR VALAMJIBHAI FEFAR
CHANDANSHIVE

Designation: PROPRIETOR Designation: AUTHORIZED SIGNATORY

Date: Date:

Place: Place:

BORROWER SIGN, STAMP & SEAL CO-BORROWER SIGN, STAMP & SEAL

PROPRIETOR AUTHORIZED SIGNATORY

For VEDANT TRADERS For M/s. SINQA INDUSTRIES LLP

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 LENDER ACCEPTANCE:

M/s. NOVASATUM FOODS PRIVATE LIMITED

Name: MR. SAURABH BOHRA

Designation: DIRECTOR

Date:

Place:

LENDER SIGN, STAMP & SEAL

DIRECTOR
M/s. NOVASATUM FOODS PRIVATE LIMITED

WITNESS:
Sr. No Name ( Pan no. or Aadhar No ) Signature

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 ANNEXURE - A

PRODUCT : INDIAN CANE SUGAR (GRADE - S30)

SPECIFICATIONS :

WHITE REFINED CANE SUGAR - FIT FOR HUMAN CONSUMPTION

POLARITY AT 20 DEG. CENT. 99.80 % Minimum

SULPHATED ASH CONTENT: 0.04% Maximum by Weight

MOISTURE: 0.04% Maximum by Weight

SOLUBILITY: 100% Dry & free flowing

GRANULOMETRY: Fine, Solid, Crystal

COLOR: Sparkling White

SMELL: Free of any odour

REDUCING SUGAR: 0.05 % Maximum by Weight

SO2: 20 PPM Maximum

SUBSTANCE: Solid, Crystal

ICUMSA: 100 -150

*** As per Sugar mill lab standard whiteness is defined in ICUMSA and not the colour as it is not
standardized.

Note : These above given specifications are generally observed for S-30 Indian Sugar and may vary
a little with maximum and minimum limits at actual.

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TEST CERTIFICATE : PRODUCT SUGAR S-30

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