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ANYTIMELOAN.IN   BORROWER   AGREEMENT

THIS LOAN AGREEMENT (THE "AGREEMENT") IS MADE AND ENTERED

Between

M/S. LUHARIA TECHNOLOGIES PRIVATE LTD, (AnyTimeLoan.in), AN ONLINE MONEY-LENDING PLATFORM (market place), HAVING THEIR REGISTERED OFFICE AT HYDERABAD, OF THE FIRST PART;

And

THE “BORROWER” WHICH EXPRESSION UNLESS REPUGNANT TO THE CONTEXT SHALL MEAN AND INCLUDES ITS LEGAL REPRESENTATIVES, ASSIGNEE AND ADMINISTRATOR (PARTY OF THE SECOND PART);

(Both the parties shall be referred to as “Parties” collectively) WHEREAS, AnyTimeLoan.in is an online market place money lending firm who provided online financial services to its clients (Borrowers) to take up business loans / lend for a stipulated period of time as specified in its schemes on the World Wide Web through its Website.

WHEREAS, the AnyTimeLoan.in requires lot of finance expertise and, constant efforts of financial advising, one to one interaction with all their clients in order to comprehend the nature of loan that the client requires, time and eventually see positive results in the Client’s business;

WHEREAS, the Borrower is a SME / Entrepreneur (details as stated in the application) wishing to take up a business loan from AnyTimeLoan.in for his / her business needs / expansion and AnyTimeLoan.in has agreed to provide them with loan; subject to other satisfactory verifications as per AnyTimeLoan.in processes

Whereas at the request of the Borrower, the Lender has agreed to grant a loan to the Borrower for a period of maximum three (3) months (90 days) on terms and conditions hereinafter contained.

1. THE LENDER AGREES TO LEND TO THE BORROWER

a sum for his / her business needs for a period of maximum three (3) months & minimum 1 day (as per the need of borrower), the borrower accepts the loan and agrees to repay the amount in accordance with the terms and conditions set out in this Agreement.

2. BOTH PARTIES REPRESENT COVENANTS AND WARRANTS TO EACH OTHER THAT:

(a) He / She has read all the terms and conditions, privacy policy, and other material available on the website of AnyTimeLoan.in financial service provider and other material that AnyTimeLoan.in has customized for them specifically.
(b) They unconditionally agreed to abide by the terms and conditions, privacy policy and other binding material contained on the website of AnyTimeLoan.in and the material provided to them.
(c) The information and financial details submitted by him / her on the website of AnyTimeLoan.in are true and correct.
(d) They understand that AnyTimeLoan.in only provides financial support to the Borrowers at its sole discretion and the Borrower is responsible for ensuring that he / she (individually / jointly) shall repay the borrowed amount on time, including the charges
(e) AnyTimeLoan.in is in no manner responsible towards either loss of money or breach of privacy or leakage of any confidential information.
(f) They have not provided any information which is incorrect or materially impairs the decision of the AnyTimeLoan.in to either register him / her or permits to lend him / her.

3. THE BORROWER AGREED TO PAY INTEREST AND ADDITIONAL INTEREST PAYABLE ON THE LOAN AS FOLLOWS:

(a) The Loan will carry interest at such rate as may be agreed in terms of Schedule I to this Loan Agreement.
(b) The Borrower shall pay the interest along with the principal on due date before closing of banking hours (NEFT)
(c) Any default by the Borrower in payment for dues towards interest or principle would entail an additional interest charge per day on the last due amount and penal charges on daily basis (AS STATED IN FAQ’S), liveable from the date of the default without prejudice to Lenders other rights available as per this Agreement and on default / failure of the Borrower to pay the same.
(d) Provided also that the obligation to pay additional interest shall not entitle the Borrower to set up a defence that no event of default as mentioned hereunder has occurred.

4. The Loan shall be disbursed by the Lender to the Borrower’s designated bank account

(as in Schedule II) within a period 1 day from the date of request being placed by the borrower (subject to approval) and no technical snag at bankers end / bank holidays. The execution of this Agreement is also an instruction to Lender that it shall transfer by electronic means a sum equal to INR to the respective bank account (as stated and authorized by the borrower) within a period 1 days (on best effort basis) from the date of request being placed by the borrower. The details of account numbers and other details for transfer of funds are provided by the borrower in the online application and also in schedule II.

5. The Borrower will repay the due amount along with charges as listed in

single transaction / bullet payment /EMI (as may be applicable to respective loan) to First Party bank account (as in Schedule III), preferably by online banking on its due date before 12 noon. The due date shall be as per AnyTimeLoan.in terms & communicated to the borrower while applying for the loan and same shall stand binding, final and no further extension of due date is acceptable in conditions what so ever; however borrower can avail maximum 2 extensions, subject to AnyTimeLoan.in approval.

6. The Borrower has intimated that the purpose of this Loan is for the business WCR / Expansion / business needs / personal needs / for his or her child education need and is desirous of utilising this loan amount only towards that. The Borrower shall utilise the said Loan only for this purpose and the loan shall not be utilised for any other purpose.

7. At the option of the Lender, and without necessity of any demand upon or notice to the Borrower all of which are hereby expressly waived by the Borrower and notwithstanding anything contained herein the said dues and all of the obligations of the Borrower to the Lender hereunder shall immediately become due and payable irrespective of any agreed maturity upon the happening of any of the following events:

(a) If any representations or statements or particulars made in the Borrower’s proposal / application are found to be incorrect or 
(b) the Borrower commits any breach of any term set out in this Agreement;
(c) the Borrower fails to repay the loan amount on the designate date on which the repayment of loan is due;
(d) If any attachment, distress execution or any other such process is initiated against the Borrower;
(e) If the Borrower ceases or threatens to cease or carry on its business or profession; 

8. The Borrower agrees to the terms and conditions

laid under this Agreement and agrees to repay the Loan amount along with the interest and other charges payable on due date. In the event the Borrower is unable to make the repayment in time, the Lender may terminate the Borrower’s account and shall be free to take any legal action against the Borrower & /or First Part can initiate legal and recovery process as per the law of land on behalf of the respective lender and also further recover cost of same from the borrower.

9. The Borrower hereby agrees and gives consent for the disclosures by the First Part of all or any such;

(a) Information and data relation to it;
(b) The information or data relating to any credit facility availed of / to be availed by it; and
(c) Default if any committed by it in discharge of our such obligation, as the Lender may deem appropriate and necessary to disclose and furnish to Credit Information Agencies and any other agency authorised in this behalf by RBI;
  (d) The Borrower declares that the information and data furnished by it to the Lender are true and correct.
(e) The Borrower understand and agrees that Loan is at pure discretion of AnyTimeLoan.in and in no where a guarantee / assurance from AnyTimeLoan.in .
(f) The Borrower (Individually / Jointly); Father / Mother are solely responsible to repay due amount and in the unfortunate event of any / either / both parents demise / bankruptcy; the next legal guardian / custodian would be responsible to repay full due amount along with applicable charges till such date to AnyTimeLoan.in without any limitations.
(g) It’s the borrower’s responsibility to share correct bank information of his/her bank account to which AnyTimeLoan.in would deposit / transfer loan amount and any changes in bank details in future also shall be intimated to AnyTimeLoan.in in writing.
(h) Further, at any point AnyTimeLoan.in reserves full right for approving & / rejecting any loan request at its sole discretion without giving any reasons whatsoever to the borrower / any other parties.
(i) AnyTimeLoan.in reserves full rights to seek any additional documents from the borrower / change / revise its charges / services during the life of this agreement at its sole discretion.
(j) The borrower also agrees and is liable to update AnyTimeLoan.in any changes in the material facts shared earlier by him / her during first time membership application; such as change in residence address, employment details, etc.,

10. THE BORROWER UNDERTAKES THAT;

(a) The Credit Information Agencies and any other agency so authorised may use process the said information and data disclosed by the Lender in the manner as deemed fit by them; and 
(b) the Credit Information Agencies and any other agency to authorised my furnish for consideration, the processed information and data or products thereof prepared by them to Banks / financial institutions and other credit grantors or registered users as may be specified by the Reserve Bank in this behalf;

11. The Borrower shall indemnify and hold the Lender & First Part harmless from and against any and all loss, damage or other consequences which may arise or result from giving the Loan to the Borrower and shall reimburse the Lender & First Part upon demand all such sums and shall upon request appear and defend at the Borrower’s own cost and expenses any action which may be brought against the Lender in connection therewith

12. The Borrower shall reimburse and pay to the First Part & Lender all costs, charges and expenses, including stamp duty and legal costs on actual basis and other charges and expenses which may be incurred in preparation of these presents and related to and or incidental documents and enforcement of the rights of the Lender / FIRST PART there under or any other document security created / executed by the Borrower in favour of the Lender / FIRST PART.

13. The Borrower agrees to accept the statement of account sent by the FIRST PART or by any other authorized representative of the FIRST PART as conclusive proof of the correctness of any such claim to be due from him.

14. Any notice or demand hereunder shall be in writing signed by any FIRST PART Officers and may be made by leaving the same or sending it through the post addressed to the Borrower at the address specified above or the address last known to the FIRST PART; and a notice or demand so given or made shall be deemed to be given or made on the day it was so left or, as the case may be, two business days following that on which it was so posted, and shall be effectual notwithstanding that the same may be returned undelivered and notwithstanding the Borrower’s change of address.

15. If any provision of this Agreement is illegal, invalid or unenforceable for any reason, it will be severed from the remaining provisions which will remain unaffected.

16. In the event of any dispute, difference or question arising between the parties hereto in relation to or in connection with anything to be done under this Agreement and the same remains unresolved for a period of one (1) month, despite the mediation of the respective parties authorized persons, the Lender &/ FIRST PART may opt to choose the course of action under the Indian Laws. The BORROWER shall bear the legal costs.

17. This Agreement shall be governed by and construed in all respect with the Indian Laws and any matter or issues arising hereunder or any dispute hereunder shall be subject to the jurisdiction of the Courts of the Hyderabad in India.

18. The Acceptance of this agreement (online) by the applicant / borrower entails that the borrower has read and accepted the terms stated herein and is liable for same under any circumstances.

SCHEDULE I - LOAN INTEREST CUM CHARGES SCHEME (SUBJECT TO REVISION AT SOLE DISCRETION OF ANYTIMELOAN.IN )

AS stated in FIRST PART FAQ’S

SCHEDULE II – Borrower BANK AND FUND TRANSFER DETAILS

As stated by borrower in the online application

SCHEDULE III: FIRST PART BANK ACCOUNT DETAILS

As stated in http://www.anytimeloan.in FAQ’S

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