GENERAL TERMS AND CONDITIONS OF LOAN (“GC”) for loans granted by Aparampaar Finance Private Limited having its registered office at 1052 Sobha Dahlia, Sarjapur Outer Ring Road, Bellandur, Bangalore, India 560103.  (‘Aparampaar Finance’ which shall mean  and  include  its successors and assigns)


1.1  The terms and expressions contained in these GC and the Loan Application Form are defined as under:

Availability Period” shall mean the period within which the Borrower can request a drawdown from the credit  Facility and the same is  is as detailed in the Loan Details Sheet;

Available Facility Amount” means at any point of time the undrawn amount of the Facility, including any amount of the Facility which becomes available pursuant to any repayment or prepayment of all or part of any previous Drawdown.

Borrower” means the borrower as described in the Loan Details Sheet;

Borrower’s Dues” means all sums payable by the Borrower to Aparampaar Finance, including outstanding Facility, interest, all other charges, costs and expenses;

“Drawdown” shall mean each drawdown of the Facility within the Availability Period and as per the terms of the Financing Documents, including drawdown of any amount which becomes available against the Facility, pursuant to prepayment/ repayment of any earlier Drawdown;

“Due Date” in respect of any payment means the date on which any amount is due from the Borrower to Aparampaar Finance;

“EMI” means the equated monthly amount to be paid by the Borrower towards repayment of all outstanding Drawdowns and payment of interest (if applicable) as per Financing Documents;

Facility” means the maximum drawdown limit granted by Aparampaar Finance to the Borrower as per Loan Details Sheet, which may be available to the Borrower as a revolving credit;

Financing Documents” means these GC, the Loan Application, the Loan Details Sheet, including the annexures hereto and  any documents executed by the Borrower or as required by Aparampaar Finance, as amended from time to time;

Loan Application” means the application in the prescribed form as submitted from time to time by the Borrower to Aparampaar Finance for seeking financing;

Loan Details Sheet” means the Loan Details Sheet executed between Aparampaar Finance and Borrower, from time to time;

Material Adverse Effect” means any event which in Aparampaar Finance’s opinion would have an adverse effect on (i) Borrower’s ability to pay the Borrower’s Dues or (ii) recoverability of the Borrower’s Dues;

Overdue Interest Rate” means the default interest as prescribed in the Loan Details Sheet which is payable on all amounts which are not paid on their respective Due Dates;

Purpose” means the utilization of each Drawdown as mentioned in the Loan Details Sheet.

1.1  A. In this GC, (a) the singular includes the plural (and vice versa) and (b) reference to a gender shall include references to the female, male and neutral genders.


1.2  The Borrower may at any time during the Availability Period, request disbursement of any amount to the extent of the Available Facility Amount. Aparampaar Finance shall have the sole and absolute discretion to allow or reject Drawdown against such request. The Facility may be in the nature of a revolving credit and the Available Facility Amount may change during the Availability Period on account of prepayments/repayment. Notwithstanding anything contained in this GC, Aparampaar Finance shall have the absolute right to cancel or refuse any further Drawdowns from the Facility at its sole discretion as it may deem fit, including  on account of any change in credit evaluation of the Borrower.

1.3  The Borrower shall pay non-refundable processing charges as stated in the Loan Details Sheet, along with tax thereof,  which may be added as a deemed disbursement to the first Drawdown  and the Borrower will accordingly  be liable  for  entire Drawdown.


2.1  The Borrower will pay Interest (if applicable) on each Drawdown made by the Borrower of the Facility and all other amounts due as provided in Loan Details Sheet and the interest shall be compounded on a monthly basis. The Borrower will be   liable for the entire Drawdown amount and shall pay the full amount for each Drawdown. However, in such cases, in the event the installment is not paid on the Due Date, all overdue amounts shall accrue Interest at the prescribed rate  (“Overdue Interest Rate”) which shall  be computed from  the respective due dates  for  payments and the interest  shall   be compounded on a monthly basis.

2.2  The tenure of each Drawdown shall be as provided in the Loan Details Sheet. EMI shall be as calculated by Aparampaar Finance as required for amortization of Drawdowns within their respective tenure and Interest payable thereon and not exceeding the maximum EMI as provided in the Loan Details Sheet. EMI shall only be towards principal outstanding and Interest thereon and does not include any default interest or any other charges payable by the Borrower pursuant to Financing Documents.

2.3  The tenure of each Drawdown shall be as provided in the Loan Details Sheet. EMI shall be as calculated by Aparampaar Finance as required for amortization of Drawdowns within their respective tenure and Interest payable thereon and not exceeding the maximum EMI as provided in the Loan Details Sheet. EMI shall only be towards principal outstanding and Interest thereon and does not include any default interest or any other charges payable by the Borrower pursuant to Financing Documents.The payment of each EMI on time is the essence of the contract. The Borrower acknowledges that s/he has  understood the method of computation of EMI and shall not dispute the same.

2.4  Notwithstanding anything stated elsewhere in the Financing Documents, all Borrower’s Dues, including EMI, shall be  payable by the Borrower to Aparampaar Finance as and when demanded by Aparampaar Finance, at its sole discretion and without requirement of any reason being assigned. The Borrower shall pay such amounts, without any delay or demur, within 15 (fifteen) days of such demand.

2.5  Aparampaar Finance shall be entitled to revise the rate of interest, if so required under any applicable law and Aparampaar Finance may recompute the    EMI /the number of EMI for repayment of outstanding Facility and interest. Any such change as intimated by Aparampaar Finance to Borrower will be final and binding on the Borrower. In case of such revision the Borrower shall be entitled to prepay, within 30 (thirty) days of such revision, the entire outstanding Facility along with accrued Interest (if applicable), without any prepayment penalty.

2.6  In case of delayed payments, without prejudice to all other rights of Aparampaar Finance, Aparampaar Finance shall be entitled to Overdue Interest Rate (as prescribed in Loan Details Sheet) from the Borrower for the period of delay.

2.7  The Borrower may pre-pay any Drawdown prior to its scheduled tenure only with the prior approval of Aparampaar Finance and subject to such conditions and prepayment charges, as stipulated by Aparampaar Finance.

2.8  The Borrower shall bear all interest, tax, duties, cess duties and other forms of taxes whether applicable now or in the future, payable under any law at any time in respect of any payments made to Aparampaar Finance under the Financing Documents. If these are incurred by Aparampaar Finance, these shall be recoverable from the Borrower and will carry interest at the rate of Overdue Interest Rate from the date of payment till reimbursement.

2.9  Notwithstanding any terms and conditions to the contrary contained in the Financing Documents, the amounts repaid by the Borrower shall be appropriated firstly towards cost, charges, expenses and other monies; secondly towards Overdue  Interest Rate, if any; thirdly towards Interest; and lastly towards repayment of principal amount of a Facility.

2.10  Interest (if applicable), Overdue Interest Rate and all other charges shall accrue from day to day and shall be computed on the basis of 365 days a year and the actual number of days elapsed.

2.11 If the due date for any payment is not a business day, the amount will be paid by Borrower on immediately succeeding business day.

2.12 All sums payable by the Borrower to Aparampaar Finance shall be paid without any deductions whatsoever. Credit/ discharge for payment will be given only on realization of amounts due.


3.1. The Borrower shall, as required by Aparampaar Finance from time to time, provide (i) postdated cheques  (“PDCs”)  or  (ii)  National Automated Clearing House (Debit Clearing)/ any other electronic or other clearing mandate (collectively referred to as “NACH”) as notified by the Reserve Bank of India (“RBI”) against Borrower’s bank account for payment of dues. Such PDCs/NACH shall be drawn from such bank and from such location as agreed to by Aparampaar Finance. The Borrower shall honor all payments without fail on first presentation/ due dates. PDC/ NACH provided by the Borrower/(s) may be utilized by Aparampaar Finance for realization of any Borrower’s Dues. The Borrower hereby unconditionally and  irrevocably  authorizes  Aparampaar Finance to  take  all actions required for such realization. The Borrower shall promptly (and in any event within seven (7) days) replace the cheques and/or the NACH and/or other documents executed for payment of Borrower’s Dues as may be required by Aparampaar Finance from time to time, at its sole discretion.

3.2  The Borrower shall, at all times maintain sufficient funds in his/her bank account/s for due payment of the Borrower’s Dues on respective Due Dates. Borrower shall not close the bank account/s from which the cheques / NACH have been issued  or cancel or issues instructions to the bank or to Aparampaar Finance to stop or delay payment under the PDC / NACH and Aparampaar Finance is not bound to take notice of any such communication.

3.3  The Borrower agrees and acknowledges that the PDC/ NACH have been issued voluntarily in discharge of the Borrower’s Dues and not by way of a security for any purpose whatsoever. The Borrower also acknowledges that dishonor of any PDC/ NACH is a  criminal  offence  under  the  Negotiable  Instruments  Act,  1881/The  Payment  and  Settlements  Act,  2007. The Borrower shall be liable to pay dishonour charges for each PDC/ NACH dishonour (as prescribed in Loan Details Sheet).

3.4  Any dispute or difference of any nature whatsoever shall not entitle the Borrower to withhold or delay payment of any EMIs or other sum and Aparampaar Finance shall be entitled to present the PDC/ NACH on the respective due dates.

3.5  Notwithstanding the issuance of cheques / NACH, the Borrower will be solely responsible to ensure timely payment of dues.


4.1  The Borrower shall:

   (i)  observe and perform all its obligations under the Financing Documents.

   (ii)  immediately deliver to Aparampaar Finance all documents, including bank account statements as may be required by Aparampaar Finance from time to time. The Borrower also authorizes Aparampaar Finance to communicate independently with (i) any bank  where  the Borrower  maintains an account and to seek details and statement in respect of such account from the bank and (ii) with any employer of any Borrower as Aparampaar Finance may deem necessary, including for monitoring Borrower’s creditworthiness.

   (iii)  immediately notify Aparampaar Finance of any litigations or legal proceedings against any Borrower.

   (iv)  notify Aparampaar Finance of any Material Adverse Effect or Event of Default.

   (v)  notify Aparampaar Finance in writing of all changes in the location/ address of office /residence /place of business or any change/resignation/termination / closure of employment/ profession /business.

   (vi)  Not leave India for employment or business or long term stay abroad without fully repaying the Facility then outstanding, together with interest and other dues and charges.

   (vii)  provide security, if any, as specified in Financing Documents or as may be required by Aparampaar Finance in case of any change in credit worthiness of any Borrower (as determined by Aparampaar Finance).

   (viii)  Ensure deposit of salary and / or business proceeds in the account from which PDCs/ECS have been issued to Aparampaar Finance.

   (ix)  On or prior to the first Drawdown take a credit life insurance policy as required by Aparampaar Finance which shall include a cover for accidents, death, permanent disability and unemployment and such other terms as shall be acceptable to Aparampaar Finance.

   (x)  comply at all times with applicable laws, including, Prevention of Money Laundering Act, 2002.

   (xi)  Utilise each Drawdown only for the Purpose.

4.2  Each Borrower represents and warrants to Aparampaar Finance as under:

   (i)  All the information provided by Borrower in the Loan Application and any other document, whether or not relevant for the ascertaining the credit worthiness of the Borrower, is true and correct and not misleading in any manner;

   (ii)  The Borrower is capable of and entitled under all applicable laws to execute and perform the Financing Documents and the transactions thereunder;

   (iii)  The Borrower is above 18 years of age and this GC is a legal, valid and binding obligation on him/her, enforceable against him/her in accordance with its terms;

   (iv)  The Borrower declares that he/she is not prohibited by any law from availing this Facility;

   (v)  No event has occurred which shall prejudicially affect the interest of Aparampaar Finance or affect the financial conditions of Borrower or affect his/her liability to perform all or any of their obligations under the Financing Documents;

   (vi)  Borrower is not in default of payment of any taxes or government dues;

   (vii)  The Borrower will do all acts, deeds and things, as required by Aparampaar Finance to give effect to the terms of this GC;

   (viii). Commencement of any bankruptcy or insolvency proceedings against the Borrower.

4.3  The Borrower gives its consent to Aparampaar Finance to use/store all the information provided by the Borrower or otherwise procured by Aparampaar Finance in the manner it deems fit including for the purposes of this Facility or for its business and understands and agrees that Aparampaar Finance may disclose such information to its contractors, agents and any other third parties.


5.1The following acts/events, shall each constitute an “Event of Default” by the Borrower for the purposes of each Facility:

   (i)  The Borrower fails to make payment of any Borrower’s Dues on Due Date;

   (ii)  Breach of any terms, covenants, representation, warranty, declaration or confirmation under the Financing Documents;

   (iii)  Any fraud or misrepresentation or concealment of material information by Borrower which could have affected decision of Aparampaar Finance to grant any Facility;

   (iv)  Death, lunacy or any other permanent disability of the Borrower;

   (v)  Borrower utilises the Drawdown for any purpose other than the Purpose;

   (vi)  Occurrence of any events, conditions or circumstances (including any change in law) which in the sole and absolute opinion of Aparampaar Finance could have a Material Adverse Effect, including limitation of any proceedings or action for bankruptcy/liquidation/ insolvency of the Borrower or attachment / restraint of any of its assets;

5.2The decision of Aparampaar Finance as to whether or not an Event of Default has occurred shall be binding upon the Borrower.


6.1  Upon occurrence of any of the Events of Default and at any time thereafter, Aparampaar Finance shall have the right, but not the obligation to declare all sums outstanding in respect of the Facility, whether due or not, immediately repayable and upon the Borrower failing to make the said payments within 15 (fifteen) days thereof, Aparampaar Finance may at its sole discretion exercise any other right or remedy which may be available to Aparampaar Finance under any applicable law, including seeking any injunctive relief or attachment  against the Borrower or their assets.

6.2  The Borrower shall also be liable for payment of all legal and other costs and expenses resulting from the foregoing defaults or the exercise of Aparampaar Finance remedies.


7.1  The Borrower acknowledges and authorizes Aparampaar Finance to disclose all information and data relating to Borrower, the Facility, Drawdowns, default if any, committed by Borrower to such third parties/ agencies as Aparampaar Finance may deem appropriate and necessary to disclose and/or as authorized by RBI, including the TransUnion CIBIL Limited (CIBIL). The Borrower also acknowledges and authorizes such information to be used, processed by Aparampaar Finance / third parties/ CIBIL / RBI as they may deem  fit and in accordance with applicable laws. Further in Event of Default, Aparampaar Finance and such agencies shall  have an unqualified  right to disclose or publish the name of the Borrower /or its directors/ partners/co-applicants, as applicable, as ‘defaulters’ in such manner and through such medium as  Aparampaar Finance / CIBIL/  RBI/ other authorized agency  in their absolute discretion  may  think fit, including in newspapers, magazines and social media.

7.2  The Borrower shall not hold Aparampaar Finance responsible for sharing and/or disclosing the information now or in future and also for any consequences suffered by the Borrower  and/or  other  by  reason  thereof.  The  provisions  of  this  clause  8  shall survive termination of the GC and the repayment of the Borrower’s Dues.


8.1  The entries made in records of Aparampaar Finance shall be conclusive evidence of existence and of the amount Borrower’s Dues and  any statement of dues furnished by Aparampaar Finance shall be accepted by and be binding on the Borrower.

8.2  Borrower’s liability for repayment of the Borrower’s Dues shall, in case where more than one Borrower have jointly applied for any Facility, be joint and several.

8.3  Borrower shall execute all documents and amendments and shall co-operate with Aparampaar Finance as required by Aparampaar Finance (i) to comply with any RBI guidelines / directives or (ii) for giving Aparampaar Finance full benefit of rights under the Financing Documents. Without prejudice to the aforesaid the Borrower hereby irrevocably consents that on its failure to do so, such changes shall be deemed to be incorporated in the Financing Documents and shall be binding on the Borrower.

8.4  Notwithstanding any suspension or termination of any Facility, all right and remedies of Aparampaar Finance as per Financing Documents shall continue to survive until the receipt by Aparampaar Finance of the Borrower’s Dues in full.

8.5  The Borrower acknowledges that the rate of interest, penal charges, service charges and other charges payable and or agreed to be paid by the Borrower under Financing Documents are reasonable and acceptable to him/ her.

8.6  The Borrower expressly recognizes and accepts that Aparampaar Finance shall, without prejudice to its rights to perform such activities itself or through its office employees, be entitled and has full power and authority so to appoint one or more third parties (hereinafter referred  to as “Service  Providers”) as Aparampaar Finance  may select and to  delegate to  such party all or any of its functions, rights and power under Financing Documents relating to the sourcing, identity and verification of information pertaining to the Borrower administration, monitoring of the Facility and to perform and execute all lawful acts, deeds,  matters and things connected therewith and incidental thereto including sending notices, contacting Borrower, receiving Cash / Cheques/ Drafts / Mandates from the Borrower in favour of Aparampaar Finance.

8.7  The Borrower acknowledges that the financing transaction hereunder gives rise to a relationship of debtor and creditor as between him / her and Aparampaar Finance and not in respect of any service rendered/to be rendered by Aparampaar Finance. Accordingly, the provisions of the Consumer Protection Act, 1986 shall not apply to the transaction hereunder.

8.8  The Borrower hereby authorizes Aparampaar Finance to verify all information and documents including, income proof documents, residence documents, address proof documents, identity documents and other such documents containing personal and financial information as are submitted by them for obtaining any Facility and that they also consent to subsequent retention of the same by Aparampaar Finance.

8.9  The Borrower acknowledges and authorizes Aparampaar Finance to procure Borrower’s PAN No./copy of Pan Card, other identity proof and Bank Account details, from time to time and to also generate / obtain CIBIL, Experian, Hunter reports and such other reports as and when Aparampaar Finance may deem fit. The Borrower also hereby gives consent and authorizes Aparampaar Finance to undertake its KYC  verification by Aadhar e-KYC or otherwise and undertake all such actions as may be required on its behalf or otherwise to duly complete the process of such verification including by way of Aadhar e-KYC and share such information with any authority and store such information in a manner it deems fit.

8.10  In the event of any disagreement or dispute between Aparampaar Finance and the Borrower regarding the  materiality  of  any  matter including of any event occurrence, circumstance, change, fact information, document, authorization, proceeding, act, omission, claims, breach, default or otherwise, the opinion of Aparampaar Finance as to the materiality of any of the foregoing shall be final and binding on the Borrower.

8.11  The Borrower and Aparampaar Finance may mutually agree on grant of a fresh facility on the terms and conditions of the GC and by execution of such further letter/undertaking by the Borrower as may be required by Aparampaar Finance.


9.1  The Borrower acknowledges that each of his /her obligations under these Financing Documents is independent and severable from the rest.


10.1  All Facility and the Financing Documents shall be governed by and construed in accordance with the laws of India.

10.2  All disputes, differences and / or claims arising out of these presents or as to the construction, meaning or effect hereof or  as to the right and liabilities of the parties under the Financing Documents shall be settled by arbitration in accordance with the provision of the Arbitration and Conciliation Act,  1996  or any  statutory amendments thereof or  any  statute  enacted  for replacement therefore and shall  be  referred  to  the  sole  Arbitration  of  a  person  to  be  appointed  by  Aparampaar Finance. The place of arbitration shall be Delhi and proceeding shall be under fast track procedure as laid down in Section 29(B) of the Act.     The awards including interim awards of the arbitration shall be final and binding on all parties concerned. The arbitrator may pass the award without stating any reasons in such award. 

10.3 Further, the present clause shall survive the termination of Financing Documents.  The Courts at Delhi, India shall have exclusive jurisdiction (subject to the arbitration proceedings which are to be also  conducted in  Delhi, India) over any or all disputes arising out of the Financing Documents.


11.1  Any notice to be given to the Borrower in respect of Financing Documents shall be deemed to have been validly given if served on the Borrower or sent by registered post to or left at the address of the Borrower existing or last known business or private address. Any such notice sent by registered post shall be deemed to have been received by the Borrower within 48 hours from the time of its posting. Any notice to Aparampaar Finance shall be deemed to have been valid only if received by Aparampaar Finance at its above stated address.


12.1  The Borrower shall not be entitled to jointly or severally transfer or assign all or any of their right or obligation or duties  under the Financing Documents to any person directly or indirectly or create any third party interest in favour of any person without the prior written consent of Aparampaar Finance.

12.2  Aparampaar Finance shall be entitled to sell, transfer, assign or securitise in any manner whatsoever (in whole or in part  and including through grant of participation rights) all or any of its benefits, right, obligation, duties and / or liabilities under  Financing Documents, without the prior written consent of, or intimation to the Borrower in such manner and such terms as  Aparampaar Finance may decide. In the event of such transfer, assignment or securitization, the Borrower shall perform and be liable to perform their obligation under the Financing Documents  to  such assignee or  transferor.  In such event,  the Borrower  shall  substitute the remaining PDCs/ECS in favour of the transferee/ assignee if called upon to do so by Aparampaar Finance.


13.1  The Borrower hereby indemnifies, defends and holds  Aparampaar Finance,  its  employees,  representatives  and  consultants       harmless from time to time and at all times against any  liability,  claim,  loss,  judgment,  damage,  cost  or  expense  (including, without limitation, reasonable attorney’s fees and expenses) as a result of or arising out of any failure by the Borrower to observe or perform any of the terms and conditions and obligations contained in the Financing Documents or Event of Default or the exercise of any of the rights by Aparampaar Finance under the Financing Documents, including for any enforcement of security or recovery of Borrower’s Dues.


 I / We am / are aware that Aparampaar Finance shall agree to become a party to this GC only after satisfying itself with regard to all conditions and details filled by me / us in the GC and other Financing Documents in consonance with Aparampaar Finance policy. I / We agree that this GC shall be concluded and become legally binding on the date when the authorized officer of Aparampaar Finance signing this at Delhi or on the date of first disbursement, whichever is earlier.

By clicking “I accept”, the Borrower electronically signs these GC and agrees to be legally bound by its terms. The Borrower’s  acceptance of these GC shall constitute: (i) the Borrower’s agreement to irrevocably accept and to be unconditionally bound by all the terms and conditions set out in these GC; and (ii) the Borrower’s acknowledgement and confirmation that these GC   (along with the Financing Documents) have been duly read and fully understood by the Borrower.