(On client s letterhead) Attn: Subject: Application for online foreign exchange facility

(On client s letterhead) Date: To, Kotak Mahindra Bank Ltd. Attn: Subject: Application for online foreign exchange facility Dear Sir, I/ We have understood the terms, conditions, operation and associated risks of using the Corporate FX- Live facility, am/are desirous of availing the said facility. I/We hereby apply for granting the said facility and request the Bank to provide necessary access to me/us/our authorized persons to operate and deal with the Bank via Internet. I/We shall be liable for all the liabilities, obligations arising out of or connected with the contracts and transactions entered by into by me/us/our authorized persons and I/We shall comply with all terms and conditions prescribed by the Bank. We acknowledge that the said online facility is solely for initiation and reporting of foreign exchange transactions and all transactions are subject to the compliance with the internal processes of the Bank and verification of underlying documents by the Bank. Availing of this facility does not guarantee the execution of any transaction or trade on the terms proposed by me/us. Please refer to the attached information for the purpose of this application. I/We hereby state that the particulars given in the application form and other associated documents are true, correct and complete and no relevant material fact has been suppressed. I/We undertake that any misstatement or misrepresentation or suppression of facts in connection with this application or breach of any undertaking, terms or condition of the facility entails rejection of application and shall be construed as a default under the facility. I/We hereby undertake to inform the Bank about any change in the above mentioned facts immediately to the Bank to take appropriate action regarding the facility and access provided. For and on behalf of_[customer] Authorized Signatories 1. 2. Encl: 1) Board resolution / authority letters 2) Other documents

Subscription form for Kotak Mahindra Bank s Customer FX Live Name: Type of Entity Sole Proprietor / Partnership / Company: Address: PIN Code: Communication Address: PIN Code: Tel: Mobile Number: Fax: E Mail: Existing CRN No. (If any): User Id s to be created: Name Of the User CRN Email Signature Currency Pairs To be dealt 1 2 3 4 5 6 7 8 Forwards (Yes / No) : Limit Orders (Yes / No) :

LETTER OF PARTNERSHIP Kotak Mahindra Bank Limited, Place: Branch Date: Gentlemen, We beg to inform you that the parties whose full names and addresses are set out in the 1st column at foot of this letter are partners of M/s a registered/unregistered partnership firm carrying on its business at The said firm is desirous of entering into forward contract/derivative transaction dealings in the name of the firm with Kotak Mahindra Bank Limited ( Bank ) at its branch. It is understood that in the event of the Bank acceding to such desire then this present form of request will, if not already completed, be duly completed by all the partners and that the provisions hereinafter contained are to bind the firm and each of the partners and his personal representatives. The provisions are as follows:- We hereby declare that we are the only partners of the said firm. In the event of any change occurring in the said firm by the introduction of any new partner or the retirement, death, expulsion or insolvency of any partner or the dissolution of the firm, notice shall forthwith be given in writing to the Bank s Branch. Pending receipt of such notice in writing as aforesaid of any retirement, death or expulsion the Bank shall be entitled to treat the partner affected by such retirement or expulsion or, in the event of death, his estate, as if or his representatives as the case may be is still a partner, to the intent that such partner or his estate shall be liable jointly and severally with the other partners for all indebtedness or obligation of the firm incurred after such retirement, expulsion or death down to the date of receipt of the notice aforesaid in addition to any liability which he may have incurred as partner to the Bank prior to such retirement, death or expulsion or insolvency notwithstanding that but for this present provision such partner or his estate might not be liable after such retirement, expulsion or death by reason of any statutory provision. NOTE: This document is to be executed when the Applicant or security holder is a partnership firm.. Every partner to sign with the stamp of the firm at the bottom of every page of the document except table at the end where every partner to sign without stamp of concern. -

Specimen signatures in the firm's name and the respective partner's personal signatures are appended in the second and third columns hereunder We and each of us confirm that: 1) All the undersigned partners jointly and the survivors of them jointly 2)The undersigned (a) Mr. (b) Mr. (c) Mr. (d) Mr. Jointly or any of them jointly 3) Each of undersigned (a) Mr. (b) Mr. (c) Mr. (d) Mr. Singly and severally, is/are authorized. A. To enter into foreign exchange transactions such as Booking, Early Delivery, Extension and Cancellation of Forward Contracts, Interest Rate Swaps, Currency Swaps and other derivative transactions or any other ancillary transactions with the Bank in respect of the firm s import/export obligations, present and future long term Rupee denominated loan/foreign Currency Loans and any other Foreign Currency Exposures. (as the case may be) B. To create lien on the (i) cash deposits and (ii) fixed deposit which is/are held with the Bank on the account of the firm or any other security as the Bank may prescribe as security against any liability that may arise under the forward contract facilities/derivative transactions. C. To furnish and sign documents (as applicable) required by Bank in connection with such forward contracts, foreign exchange and derivative transactions including but not restricted to the Request letter for forward contract, KYC documentation, ISDA Master Agreement, Letter of Appropriation for Cash/Fixed Deposit in favour of the Bank, statement for Risk Disclosure and any declarations to be made in this regard. D. To avail internet based facility, initiate booking via internet in respect of forward contracts, foreign exchange and derivative transactions. NOTE: This document is to be executed when the Applicant or security holder is a partnership firm.. Every partner to sign with the stamp of the firm at the bottom of every page of the document except table at the end where every partner to sign without stamp of concern. -

E.To sign the Firm's name for the Firm to any cheque, promissory note or other document relating to any operation on the account of the firm and that the Bank is entitled to act upon the faith of any check, promissory note or the other documents so signed in the firm's name over such joint or several signature or signatures, as the case may be, according as is herein above authorized., In the event of any new partner being introduced upon the Bank being duly notified and consenting to continue the account and new partner having signed this or any new form or request required by the Bank then for the purpose of operation on the account, such new partner will be treated as a partner and shall be authorized to sign for the firm unless the Bank be expressly advised to the contrary and by his signature to this or any such new request such partner will be understood to have accepted and be bound by the foregoing undertakings. Without prejudice to what is stated above, we hereby agree that notwithstanding anything contained in any agreement of partnership any forward contract/derivative transaction made by any of the partners on behalf of the firm pursuant to the letter of the partnership given to you, and all securities by way of lien on cash deposits/fixed deposit, pledge, hypothecation, charge or mortgage of goods, and /or properties, moveable and immoveable(as prescribed by Bank), given therefore shall be deemed to have been so made and given for the purposes of the firm under the express authority of partners of the firm conferred by all and each of them upon the others or other of them individually and all liabilities created/acknowledged by any of the partners on behalf of the firm shall be binding upon the firm and all the partners thereof in their respective capacity as partner and in their respective individual capacities. It is understood that Forward Contracts and Derivative Transactions are subject to FEDAI Guidelines for Foreign Exchange Contracts, FEMA Guidelines for Foreign Exchange Contracts or any other guidelines issued in this regard by a competent authority, which may be amended from time to time. It is expressly stated that strict adherence shall be made to all regulatory requirements which may be in the form of furnishing of documents, information as the case may be. It is declared that the forward contract/derivative transaction dealings intended to be carried out does not involve, and is not designed for the purpose of any contravention or evasion of the provisions of the aforesaid Guidelines or of any rules, regulation, notification, direction or order made there-under. Further it is understood on refusal to comply with any such requirement or make only unsatisfactory compliance therewith, the Bank shall refuse in writing to undertake the transaction and shall if it has reason to believe that any contravention/evasion is contemplated by me/us report the matter to Reserve Bank of India (RBI). Yours faithfully, NOTE: This document is to be executed when the Applicant or security holder is a partnership firm.. Every partner to sign with the stamp of the firm at the bottom of every page of the document except table at the end where every partner to sign without stamp of concern. -

Name of Partner Address Sign in individual capacity NOTE: This document is to be executed when the Applicant or security holder is a partnership firm.. Every partner to sign with the stamp of the firm at the bottom of every page of the document except table at the end where every partner to sign without stamp of concern. -

Terms and Conditions for Internet Based Platform for Foreign Exchange Transactions (Forex Online Service) The Terms and Conditions mentioned in this document ( FX Terms ) supplements and shall be read with (1) Terms and Conditions and Rules for Kotak Mahindra Banks Net Banking Services.( Net Banking T&C ) ; (2) Terms and Conditions and Rules for Kotak Mahindra Banks Accounts and Services.( Accounts and Services T&C ) and (3) other agreements, declarations/ undertaking/documents executed in this regard ( the Agreement ). The FX Terms are in relation to Net Banking Services offered by Bank to deal in Transaction(s) mentioned in FX Terms. For the purpose of Transaction(s), The FX Terms would prevail in the event of inconsistency between the FX Terms and (Net Banking T&C and Accounts and Services T&C). The Net Banking Services/ FX Live services rendered to deal in Transaction(s) allows only reporting and initiation of Transaction(s). Actual trade transactions shall be permitted only after verification of physical documents mandated by Law, RBI and Bank from time to time. Capitalized terms not defined in FX Terms shall have the meaning in the Net Banking T&C and/or Accounts and Services T&C. (1) Definition(s): Business Day shall mean a day, not being a Sunday or a public holiday, on which banks in Mumbai are open for business (including dealings in foreign currency deposits and exchange) and, in the context of a payment being made to or from a commercial bank in a place other than Mumbai, in such other place. Business Hours for all trades through the Service shall be from 09.00 hrs to 16.30 hrs (Indian Standard Time) (2). Interpretation of Instructions, etc. by the Customer and quotation of price by the Bank (i) Any instruction, order, direction, request entered using Customers password shall be deemed to be an instruction, order, directive, request received from the Customer or its duly authorised representative or Customers duly authorised designee s. All instructions, requests, directives, orders, directions, entered by the Customer, either electronically or other wise, are based upon the Customers decisions and are the sole responsibility of the Customer. The Customer understands that entering an instruction, direction, order, request with the Bank, either electronically or otherwise, does not guarantee execution of such instruction, direction, order, request The Bank shall not be deemed to have received any instruction, direction, order, request electronically transmitted by the Customer until it confirms the receipt of such instruction, direction, order, request. (ii)the quotation of rate or price provided by the Bank through this service shall not constitute an offer to enter into a transaction and the same shall be an invitation to offer. The instruction given by the Customer through this service of such rate or price shall constitute an offer by the Customer to enter into the relevant transaction at the rate or price quoted. The dispatch by the Bank via the Electronic Media of a deal acknowledgement shall constitute an acceptance by the Bank of such offer and a binding agreement between the Customer and Bank in respect of a transaction shall be formed only when a deal acknowledgement of such transaction is dispatched through Electronic Media. (iii) The display or printed output that is produced by the Customer at the time of operation of the Website is a record of the operation of the Internet access and shall not be construed as the Bank s record of the transactions. The Bank s record of transactions maintained through computer systems / electronic records shall be conclusive and binding for all purposes. (3). Communications through Electronic Media Documents sent by Electronic Media will contain all the information as it appears in the printed hard copy version as prepared and distributed by the Bank, with the possible exception of graphic insertions such as photographs or logotypes save and except in case of non-availability for any reason of e-mail facilities for the Services in which case the parties will confirm the transaction(s) telephonically or otherwise. Documents sent may be in the form of an electronic mail, an attachment to the electronic mail, or in the form of an available download from the Website. The Bank would be deemed to have fulfilled its legal obligation to deliver to the Customer any document, if such document is sent via Electronic Media. Failure to advise the Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document. (4). Monitoring and Recording Telephone conversations and email For the protection of the Parties, and as a tool to correct misunderstandings, the Customer understands, agrees and authorises the Bank, at its discretion, and without further prior notice to the Customer, to monitor and record any or all telephone conversations or electronic communications between the Customer and Bank and any of its employees or agents.

(5). Service Charges The Bank reserves the right to levy any charges if it deems appropriate by notifying the same on the Website. The Customer shall be liable to pay and bear the cost of telephone, communication charges and costs of Internet access and any other costs incurred by it for availing of the Service. (6). Issuing Orders The Customer is authorised to provide the issuing orders and is allowed to carry out the following Foreign Exchange Transaction(s) (Transaction(s)) in real time: Transaction(s): (i) Spot transactions at an agreed rate; (ii) Forward transactions at an agreed rate; (iii) Currency swaps at an agreed rate; (iv) Currency borrowing or lending; (v) Such other transactions, products or services as may be offered from time to time. within the limits as the Bank may notify from time to time. (7). Date of Foreign Exchange Transaction(s): (i) Orders may be given on a Business Day during the Business Hours. (ii) Spot transactions will be carried out with a spot value date, which corresponds on the exchange calendar to the date of the order plus a delivery period (two Business Days). The spot value date is displayed on the screen when the order is issued. (iii) Forward transactions and currency swaps may be permitted up to one year from the spot value date. The Bank does not guarantee the placing of any orders on the date of transmission where such orders are given by the Authorised Users after the Business Hours. (8) Authorised User Information: Prior to issuing any order, any authorised user proposing to carry out any Transaction with which it is not familiar, or involving risks it cannot assess, shall request the required information from the Bank and where necessary request delivery of any relevant documents. (9) Representation(s) and Warranties: The Customer represents and warrants to Bank at all times until the termination of the Service, that the Customer may revoke the authority of an existing authorised user, change its user access profile / authorise a new user, by giving a resolution / mandate in the format prescribed by the Bank. Provided that all the terms and conditions contained in this agreement and as may be contained on the Website and the registration form shall continue to apply. The Customer shall immediately notify the Bank to disable the user access, giving the Bank reasonable time to do so. (10). Liability In respect of the issuing order option, Bank shall be liable only for gross negligence in the execution of orders. The Bank shall give no advice as to opportunity of any transaction envisaged by the Authorised User or any other form of advice, which may determine Customers choice. The Authorised User is deemed to be familiar with the operation and the applicable rules of the market and the products, whether regulated or not, with which he/she desires to deal through the Services. (11). Indemnification The Customer agrees, at its own expense, to indemnify, defend and hold harmless the Bank with reference to (a) any violation of the FX terms contained herein and/or those Terms contained on the Website; (b) any claim or action brought by a third party which is in any way the result of the improper use of Service by the Customer; (c) any violation of the terms of ( Net Banking T&C ), ( Accounts and Services T&C ) and/or the Agreement (12). Security Interest and Lien All securities and other property now or hereafter held, carried or maintained by the Bank in its possession or control, for any purpose, in or for the benefit of any of Customers accounts, now or hereafter opened, including any account in which Customer may have an interest, shall be subject to a lien in favour of Bank for the discharge of all indebtedness and Customers other obligations to Bank, and are to be held by the Bank as security for the payment of any liability or indebtedness of Customers to Bank. The Customer authorises the Bank and to transfer securities and other property so held by the Bank from or to any other of Customers accounts, whenever, Bank considers such transfer necessary for its protection. In enforcing the lien, Bank shall have the right and discretion to determine which securities and properties are to be sold and which contracts or positions are to be closed, In the event of a breach or default by the Customer of the terms and conditions hereunder, Bank shall have all

rights and remedies available to a secured creditor under all applicable law in addition to the rights and remedies provided herein. The Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Customers account, whether in single name or joint name, to the extent of all outstanding dues, whatsoever, arising as a result of the service extended to and/or used by the Customer. (13). Disclaimer THE CUSTOMER EXPRESSLY AGREES THAT USE OF THE WEBSITE IS AT ITS SOLE RISK. THE WEBSITE IS PROVIDED ON AN AS IS AND AS AVAILABLE BASIS. EXCEPT AS WARRANTED IN THE FX TERMS, THE BANK EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DATA ACCURACY AND COMPLETENESS, AND ANY WARRANTIES RELATING TO NON- INFRINGEMENT IN THE SERVICES. THE BANK DOES NOT WARRANT THAT ACCESS TO THE WEBSITE AND THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE NOR DOES IT MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM THE WEBSITE OR USE OF THE SERVICES OR AS TO THE ACCURACY OR RELIABILITY OF THE SERVICES. KOTAK MAHINDRA BANK LTD. MAKES NO WARRANTY REGARDING THE TRANSACTIONS ENTERED INTO THROUGH THE WEBSITE. THE BANK WILL NOT BE LIABLE FOR ANY VIRUS THAT MAY ENTER THE CLIENT S SYSTEM AS A RESULT OF THE CUSTOMER USING THE SERVICES. KOTAK MAHINDRA BANK LTD. DOES NOT GUARANTEE TO THE CUSTOMER OR ANY OTHER THIRD PARTY THAT THE SERVICES WOULD BE VIRUS FREE. THE BANK DISCLAIMS ANY RESPONSIBILITY AND LIABILITY FOR ANY BREACH OF PRIVACY AND FOR ANY UNAUTHORIZED ACCESS DUE TO NEGILGENCE/ MISHANDLING ON PART OF THE CUSTOMER.

We have read and understood the FX Terms and agree with the abovementioned terms and conditions, Net Banking T&C, Accounts and Services T&C and other terms and conditions of the Agreement or any other document executed in relation to foreign exchange transaction(s). Signed/Sealed and Delivered by, pursuant to the Board Resolution/Sole Proprietorship letter/partnership Letter passed/ issues in this regard Signatories being the person duly authorised in this behalf. For and on behalf of [ ] By: Title: Date: