OFFER LETTER

Date: 23-08-2024

Dear Mr. Rajat,

With reference to your application for employment and subsequent interface you had
with us, are pleased to appoint you Relationship Manager on the following terms and
conditions, recorded helow for your consideration and acceptance. This offer takes effect
from your date of joining August 26, 2024. In this role you will be the key person and will
play an important role in full filling the business objectives of Exclusive leasing Finance
Private Ltd. You will be based at Haridwar Location.

1. You shall be entitled to a salary of Rs. 17,633/-CTC pm.

2. The company expects you to work in the Sales Department, in which you are placed
with high standard of efficiency and economy.

3. Your final appointment is subjected to furnishing of your documents on your joining.

4. This letter represents the company's complete provisional offer to you and contains
terms relating to your appointment, subject to final approval and completion of a
satisfactory background check. If these terms are agreeable to you, please indicate your
formal acceptance of this provisional offer and your permission to conduct a background
check.

5. This letter of offer is based on the information furnished in your application for
employment and during the interviews you had with us. Assuming favorable results
received, and you choose to accept our offer, we will extend a final offer of employment to
you in writing

6. If, at any time in future, it comes to light that any of this information is incorrect or
any relevant information has been withheld or your background check was not found
satisfactory, then present provisional offer letter stands revoked.

7. Please be aware that this letter does not constitute a guarantee or contract of
employment. Accordingly, you or we may terminate the selection process at any time for
any reason, upon notice.

We welcome you in Exclusive leasing Finance Private Ltd and look forward for a long-
term association.

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 For Exclusive leasing Finance Private Ltd.

Manager HR

Version Date of Approval/ Reviewal

V.1 08/04/2022

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Purpose

This has reference to RBI Circular No. RBI/2015-16/16 DNBR (PD)

CC.No.054/03.10.119/2015-16 dated 01st July, 2015, wherein the Reserve Bank of India
(RBI) has revised the guidelines on Fair Practices Code for NBFCs to implement the same.
All of this has been consolidated in last Master Direction - Non-Banking Financial
Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank)
Directions, 2016.

The Fair Practices Code, as mentioned herein below, is in conformity with these
Guidelines/ Directions on Fair Practices Code for NBFCs as contained in the aforesaid RBI
Circular/ Direction. This sets minimum Fair Practice standards for the Company to follow
when dealing with customers. It provides information to customers and explains how the
Company is expected to deal with them on a day to day basis.

Exclusive Leasing and Finance Private Limited is committed to dealing with its customers
in a fair and transparent manner. As a Non-Banking Financial Company (NBFC), the
Company has put in place a revised Fair Practice Code that incorporates both the RBI’s
guidelines, circular dated July 01, 2015 and Master Directions on Non-Deposit Taking Non
Systemically Important NBFCs dated September 01, 2016 on Fair practices for NBFCs, as
well as other self-regulatory organizations.

Objective of the Code

Primary objectives behind development of this code are:

(A) Promote good, fair and trustworthy practices in dealing with the customers;

(B) Increase transparency to enable the customers to have a better understanding of

what they can reasonably expect of the services.

(C) Encourage market forces, through competition, to achieve higher operating

standards;

(D) Promote a fair and cordial relationship between the customers and the Company.

1. Company’s Key commitments and Declarations:

1.1. To act honestly, fairly and reasonably in conducting financial activities and to deal
our customers on the ethical principles of integrity and transparency.

1.2. To not discriminate against clients on the basis of gender, race, caste, religion or
language and to treat all the clients consistently and fairly.

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1.3. To prominently display the Fair Practice Code on the notice board at Registered
Office of company and put systems in place to ensure compliance. Moreover
company always welcomes new ideas and suggestions from its clients. For this, the
suggestion boxes are placed at the Regd. Offices.

1.4. To ensure transparency in the maintenance of books of accounts and disclosure of

financial statements by qualified auditor/s.

The Board of Directors and the management team of ELFPL are responsible for
implementing the FPC and also to ensure that its operations reflect its strong commitment
to all the stakeholders for offering in a fair and equitable manner, the various financial
services and products including lending as ELFPL may provide from time to time and that
all ELFPL employees/representatives shall be aware of this commitment.

2. Applications for availing loans and their processing

a) All communications to the borrower shall be in the vernacular language or a language

as understood by the borrower.

b) All the Loan application forms shall contain all necessary information, especially the
Rate of interest, Processing Charges, insurance charges, Penal and Overdue Charges
and such other charges which affects the interest of the borrower, so that he can make
a meaningful comparison with the terms and conditions offered by other NBFCs so
that an informed decision can be taken by the borrower. The loan application form
shall indicate the documents required to be submitted with the application form.

c) ELFPL will offer credit to eligible qualified applicants who express their need to
borrow through their loan request letter

d) Company shall give acknowledgement for receipt of loan applications and other
documents. The Company shall inform the party about the pendency of any
information and document for processing the Loan application. The decision on loan
application shall be taken not later than 30 days from the date of receipt of completed
loan application. Loan application will be considered as complete, once all
information has been duly received and filled in, and required documents have been
submitted and found acceptable. The Loan application and acknowledgment shall
contain the time frame within which loan applications will be disposed of.

e) The applicant will be given the contact number of the concerned officer from whom
he can enquire about developments in the loan process.

3. Loan appraisal and terms/conditions

i) The company shall convey in writing to the borrower in the vernacular language as
understood by the borrower by means of sanction letter or otherwise, the amount of

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 loan sanctioned along with the terms and conditions including annualized rate of
interest and method of application thereof and keep the acceptance of these terms and
conditions by the borrower on its record. Company shall mention the penal interest
charged for late repayment in bold in the loan agreement.

ii) Company shall provide a legally enforceable re-possession clause in the contract/loan
agreement with the borrower. To ensure transparency, the terms and conditions of the
contract/loan agreement should also contain provisions regarding: (a) notice period
before taking possession; (b) circumstances under which the notice period can be
waived; (c) the procedure for taking possession of the security; (d) a provision
regarding final chance to be given to the borrower for repayment of loan before the
sale / auction of the property; (e) the procedure for giving repossession to the
borrower and (f) the procedure for sale / auction of the property.

iii) Company shall furnish a copy of the loan agreement along with the enclosures if any,
preferably in the vernacular language as understood by the borrower along with a
copy each of all enclosures quoted in the loan agreement to all the borrowers at the
time of sanction / disbursement of loans.

iv) To reinforce the understanding, company shall reiterate the terms and conditions, and
responsibilities at the time of application, sanction and disbursement.

v) The terms and conditions explained to the borrower include, but are not limited to the
following:

a) The manner of repayment of the loan.

b) The loan amount and tenure, rate of interest, method of application as well as
other charges.
c) The frequency of repayment – whether weekly, fortnightly or monthly (at the
option of the borrower).
d) In case of co- borrower/guarantor(s), their responsibility in case of default.
e) Submission of Pool details of Portfolio created by the borrower out of the funds
disbursed by the Company.

vi) Company undertakes to give due notice for any change in the conditions of the loan
specially pertaining to interest rate and periodicity, quantum of installments and
tenure of loan/(any changes in the loan process/procedures).

4. Disbursement of loans including changes in terms and conditions.

a) The company shall give notice to the borrower in the vernacular language as
understood by the borrower of any change in the terms and conditions including
disbursement schedule, interest rates and periodicity, service charges, prepayment
charges etc. Company shall also ensure that changes in interest rates and charges

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 shall be effective only prospectively. A suitable condition in this regard shall be
incorporated in the loan agreement.

b) Decision to recall / accelerate payment or performance under the agreement shall be

in consonance with the loan agreement.

c) Company shall release all securities on repayment of all dues or on realization of the
outstanding amount of loan subject to any legitimate right or lien for any other claim
NBFCs may have against borrower. If such right of set off is to be exercised, the
borrower shall be given notice about the same with full particulars about the
remaining claims and the conditions under which NBFCs are entitled to retain the
securities till the relevant claim is settled/paid.

d) Company shall inform its clients clearly about all the terms and conditions of the
loan, the advantages of timely repayments and the consequences of defaulting on
loans.

5. Recovery of Loans

a) Company will ensure that its decision to recall/ accelerate payment based on
performance is in consonance with the loan agreement.

b) In the matter of recovery of outstanding dues of its borrower, Company will not
resort to undue harassment viz. persistently bothering the borrower at odd hours, the
use of muscle power for recovery of loans, etc. Company shall ensure that the staff is
adequately trained to deal with the customers in an appropriate manner.

c) While enforcing its rights as a lender strictly, Company believes in polite language
and abjures the use of abusive and harsh words.

d) Company undertakes to release all securities if any on repayment of all dues or on

realization of the outstanding amount of loan, subject to any legitimate right or lien
for any other claims it may have against the borrower. Company shall provide its
customers information about the penalties liable to be levied in case of non-
observance , violation of any terms and conditions governing the product/ services
chosen by them and all details in its tariff schedule of any charges applicable to the
products and services chosen by them.

e) If any such right of set off is to be exercised, the company will ensure that the
borrower is given notice about the same with full particulars about the remaining
claims and the conditions under which Company is entitled to retain the securities if
any, till the relevant claim is settled/ paid.

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6. Client protection principles

a) Company shall take reasonable steps to ensure that credit will be extended only if
borrowers have demonstrated an adequate ability to repay and loans will not put
borrowers at significant risk of over-indebtedness. Similarly, Company will take
adequate care that non-credit financial products (such as insurance) extended to low-
income clients are appropriate.

b) The pricing, terms, and conditions of financial products (including interest charges,
insurance premiums, all fees, etc.) will be transparent and will be adequately
disclosed in the application form understandable to clients.

c) The privacy of individual client data will be respected, and such data cannot be used
for other purposes without the express permission of the client other than the
following exceptional cases:

● If we have to provide the information by statutory or regulatory laws

● If there is a duty to the public to reveal this information
● If our interest requires us to provide this information (e.g. fraud prevention) to
● Banks / Financial Institutions / Our Group and Associate Companies.
● We will not use this reason for giving information about customers to
anyone else for marketing purposes.

7. Grievance Redressal Mechanism

a) The Company shall put in place a complaint box at the prominent place of its
branches/ offices for receiving the complaints of the customers. The borrowers have
to inform the Branch about the complaint in writing. The said complaints shall be
entered in the Register maintained for the purpose by the Grievance Redressal
Officer duly authorized in this behalf.

b) Clients and others who have any grievances regarding functioning of company, may
further address their grievances in writing to the Grievance Redressal Officer and
further to the ‘Director’ for redressal of his /their grievance who will dispose the
same with in a period of 15 days from the date of receipt of such Grievance. In case
the complainant is/ are not satisfied with the decision of the Director, he/ they may
appeal to the Board who will also dispose of the same within a period of 30 days
from the date of receipt of the appeal.

c) All disputes arising out of the decisions of branches in relation to the products and
services shall be heard and disposed off at least at the next higher level. Therefore,
the following 'Grievances Redressal Mechanism' is put in place.

GRIEVANCELEVEL REDRESSALLEVEL

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 Officer Head of department
Head of Department Director
Director Board of Directors

d) The Grievance Redressal policy is available on www.ezcapital.in. ELFPL has

designated an officer for the redressal of grievances of the clients including the
borrowers, in connection with any matter pertaining to business practices, lending
decisions, credit management and recovery. The name and contact details of the
designated Grievance Redressal officer is: Ms. ………………., Contact Number.:
…………………………. E-mail: …………………….. The details of Grievance
Redressal Officer have been displayed in the ELFPL branches.

e) A consolidated report of periodical review of compliance of fair practice code and

functioning of the grievances redressal mechanism at various levels of management
may be submitted to the Board of Directors/ Committee of Directors at regular
intervals as may be prescribed by it.

f) If the complaint/ dispute is not redressed within a period of one month, the customer
may appeal to the Officer-in-Charge of the Regional Office of RESERVE BANK
OF INDIA-DEPARTMENT OF NON BANKING SUPERVISION 6, Sansad
Marg, Sansad Marg Area, New Delhi, Delhi 110001, under whose jurisdiction the
registered office of the NBFC falls.

g) Company will safeguard personal information of clients, only allowing disclosures

and exchange of such information to others who are authorized to see it, with the
knowledge and consent of clients.

8. Regulation on excessive interest charged

a) The Company shall adopt an interest rate model taking into account relevant factors
such as, cost of funds, margin and risk premium, etc and determine the rate of interest
to be charged for loans and advances. The rate of interest and the approach for
gradations of risk and rationale for charging different rate of interest to different
categories of borrowers shall be disclosed to the borrower or customer in the
application form and communicated explicitly in the sanction letter.

b) The rates of interest and the approach for gradation of risks for differential rate shall
also be made available on the web-site of the company or published in the relevant
newspapers. The information published in the website or otherwise published should
be updated whenever there is a change in the rates of interest.

c) The rate of interest should be annualized rates so that the borrower is aware of the
exact rates that would be charged to the account.

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9. General

a) Company will refrain from interference in the affairs of the borrower except for the
purposes provided in the terms and conditions of sanction of the loan (unless new
information, not earlier disclosed by the borrower, has come to the notice of the
lender).

b) In case of receipt of request for transfer of borrowal account, either from the
borrower or from a lender, which proposes to take over the account, the consent or
otherwise i.e. objection of the company if any would be conveyed within 21 days
from the date of receipt of request. Such transfer shall be as per transparent
contractual terms in consonance with law.

c) The Company will call delinquent customers between 08:00 hrs. to 20:00 hrs. unless
special circumstances of the borrower’s business require to call them otherwise
outside the hours mentioned.

d) The Company may arrange for enforcing security charged to it of the delinquent
borrower, if required, with an aim only to recover dues, cost and expenses of such
enforcement action.

e) The Company shall ensure that the entire process of enforcing its security, valuation
and realization thereof be fair and transparent.

10. Compliance

a) The Company shall place before the Board of Directors within 30 days of the end of
financial year as on March 31st, a Compliance Report indicating the extent of
compliance with the Fair Practice Code as at the end of said half financial year.

b) The Company shall also place before the Board of Directors within 30 days of the
end of every financial year as on March 31st, a report on the functioning of
Grievance Redressal Mechanism (specifically indicating any deviations and reasons
therefore) as at the end of said half financial year.

c) The Fair Practice Code shall be in Vernacular Language and in the same is in
English, the translation thereof or the bilingual version shall be put in place.

d) Fair Practice code shall be put on the Notice Board of all the Branches and offices of
the company and website of the company if any for information of various stake
holders.

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 Feedback and Suggestions

We request our customers to provide feedback on our service to help us to improve our
services.

Monitoring

We have a Nodal Officer to ensure compliance of the Code.

Nodal Officer:

Mr. Rajesh Katoch

EXCLUSIVE LEASING AND FINANCE PRIVATE LIMITED
Contact No.: 97176-23830
Email-id:
[email protected]
Our internal auditing procedures make sure we meet the Code.

Review

The Board of Directors shall review the Fair Practice Code and Grievance Redressal
Mechanism on Yearly Basis in first Board meeting after the end of every year for making
suitable amendments, if any.

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