Lender Registration Agreement

This LENDER REGISTRATION AGREEMENT (hereinafter referred to as this “Agreement” and includes any exhibits attached hereto, which may be amended, supplemented or otherwise modified from time to time), dated this XX day of XXX, YYYY, and entered into: 


“M/s LUHARIA TECHNOLOGIES PRIVATE LIMITED”, a private limited company incorporated under the provisions of the Companies Act, 1956 (1 of 1956), and having its registered office at Hyderabad (hereinafter referred to as “Company” or “” or “ATL” or “us” or “we”, which expression shall, unless repugnant to or inconsistent with the context, mean and include its successors and permitted assignees) ;


Mr/Ms/Mrs/ M/s XXXX____, S/o_or D/o XXXXXXXX_____________________________ R/O____________________________________ , holding valid PAN no. XXXXX (Hereinafter referred to as the “Lender" which expression shall, unless repugnant to or inconsistent with the context, mean and include their successors and permitted assignees).  [ATL and the lender shall together be referred to as the “Parties” and severally as the “Party”]


Whereas, ATL is an online lending platform that brings together borrowers and lenders, and the Company provides services (as specified in this agreement) in relation to borrowing / lending transactions made through ATL website or ATL Mobile Applications.
Whereas, a person who creates an account with ATL at can find a suitable borrower through the services of ATL on such terms and conditions as may be provided in this agreement.
  Whereas, the person who intends to offer loan through ATL:

a) Have created an account with ATL by giving basic information including name, contact nos. date of birth, nationality, email, place of residence, chosen password, gender, marital status, employment and such other information sought for.

b) Have registered online by providing additional personal details, viz, Father’s name, Gross incomes whether employed or self-employed, PAN and such other information sought for. Whereas, on successful activation of online registration, the person agrees to execute this agreement as a lender for availing ATL services.

c) Has attained a minimum age of 21years as on this date, is a valid Indian national as per FEMA rules Or Indian Resident as stated below, have got valid & genuine source of income to lend.

Indian Resident is a person resident in India as defined under clause 2(v) Foreign Exchange Management Act, 1999. The same is reproduced as under: Person Resident in India for more than 182 days during the course of preceding financial year but does not include:

i. A person who has gone out of India or who stays outside India, in either case: a. For or on taking up employment outside India; or b. For carrying on outside India a business or vocation outside India; or c. For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.

ii. A person who has come to or stay in India, in either case, otherwise than a. For or on taking up employment in India, or b. For carrying on in India a business or vocation in India, or c. For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;



1.1. In this agreement (including any recitals, annexure, schedules or exhibits attached thereto) except where the context otherwise requires, the following words and expressions shall have the following meaning:-

a) “Act” means the (Indian) Companies Act, 1956.
b) Eligible Listed Borrower means the person whose verification is completed by ATL.
c) Eligible Listed Lender means the person whose verification is completed by ATL.
d) ATL borrower is an individual who satisfies the following criteria:
i. Indian resident as per FEMA regulations
ii. Above age of 21years.
iii. Should be an Earning Member
iv. Have an identity proof & Valid PAN card
v. Have income proofvi. Have a valid bank account vii. Should meet ATL eligibility criteria as per ATL proprietary algorithm
e) ATL lender is an individual who satisfies the following criteria:
i. Indian resident as per FEMA regulations
ii. Above age of 21 years
iii. Have an identity proof & valid PAN Card
iv. Have a valid bank accountf) ATL Rating / Score means rating given by ATL based on its proprietary algorithm.
g) “Indian Resident” is a person resident in India as defined under clause 2(v) Foreign Exchange Management Act, 1999. The same is reproduced as under: Person resident in India for more than 182 days during the course of preceding financial year but does not include:
i. A person who has gone out of India or who stays outside India, in either case:
a) For or on taking up employment outside India; or
b) For carrying on outside India a business or vocation outside India; or
c) For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
ii. A person who has come to or stay in India, in either case, otherwise than
a) For or on taking up employment in India, or
b) For carrying on in India a business or vocation in India, or
c) For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;
h) “Registered Member” is a borrower / lender profile page that shows an interest by either lender / borrower to offer / take loans through
i) “Lender Membership” is a commitment by lender to offer loan to borrowers on ATL.
j) “Borrower Membership” is a loan request by ATL eligible Borrower on ATL portal.
k) ”Lending Period”: In case of lender, there is no time-limit for the listing to be active. However, periodic checks on the personal information may be done at the discretion of ATL either through tele-call or through physical verification.
l) "Top Up" is a interest expressed by ATL Registered lender to increase his / her lending commitment on ATL
m) “SLA” is the Service Level Agreement and as per it lender agrees to initiate fund transfer from his / her registered bank account to mapped / assigned eligible borrower bank account. Failing to do so, would convert mapped loan enquiry into “Lost Opportunity” and the loan enquiry would be mapped / assigned to next lender as per ATL mapping criteria. More Lost Opportunity would cause negative rating to resp. lender at ATL and subsequent impact on receiving eligible loan enquiries.
n) “Person” means an individual.
o) Servicing by ATL: Verification of the lender and borrower for identity, address, employment and other information as necessary as per ATL algorithm & curating / processing same to ensure those that meet ATL criteria are only successfully processed.

2. ATL would put in place best possible recovery / collection process as per law of land and conduct collection of dues / loan repayments on behalf of respective lenders into ATL nodal / escrow / pooling account and initiate transfer of respective share (Share of Loan principal + revenue share) post deducting any fees, statutory deductions, etc into respective lender designated bank account.

3. In case of Loan Default / Non Repayment of due amount by any borrower; respective lender do hereby authorize ATL to pursue the matter either on its own or by appointing any RBI designated recovery / collection company. Any charges aforesaid incurred, shall be borne by respective lender only and no revenue would be shared from applicable penal charges.

4. In case of Loan Default / Non Repayment of due amount, respective lender authorizes ATL to act as per its wisdom to offer settlement amount that could be equal to or lower than loan principal amount. However, ATL would maintain complete transparency in such approach & / process, to safeguard interest (s) of respective lenders (s).

5. ATL nowhere and in any condition guarantees / assures recovery / collection of loan accounts that get into defaulters list / category / bucket.

6. In case of loan default by a borrower, ATL on behalf of lender will take such necessary steps as permitted by law against the borrower to realize the amounts due along with the interest at the decided rate and other fees as agreed in this agreement including appointment of collection agents, if required. However, charges towards same shall be borne by respective lender (s), individually or collectively, as may be the case.

1.2.  References to Articles, Clauses, Recitals, Appendices and Schedules are to articles, clauses, recitals, appendices and schedules to this agreement. 
1.3.  Any reference to a statutory provision shall include such provision as is from time to time modified or re-enacted or consolidated so far as such modification or re-enactment or consolidation applies or is capable of applying to any transactions entered into hereunder.
1.4.  Words denoting the singular only shall include the plural and vice versa.
1.5.  Words denoting the masculine gender only shall include the feminine gender and vice versa.
1.6.  The Recitals to this agreement shall be and form an integral part of this agreement.
1.7.  Headings in this Agreement are for convenience of reference only and shall not be used to construe or interpret this agreement.


This agreement shall come into effect from the date of this agreement.


3.1 Lender agrees to register with ATL as ATL lender for providing loan to eligible ATL borrowers that are mapped or assigned to him/her/them. Post online registration, lender is allowed to his/her/their dashboard, on ATL portal or ATL Mobile APP & receive eligible borrower enquiries automatically, if lender opts for it via ATL dashboard. Upon receipt of Eligible loan enquiry, respective lender can see eligible borrower details such as bank details, loan amount, loan tenure, ATL score, etc., Post receipt of enquiry, resp. lender agrees to do best efforts to initiate transfer of exact loan demand assigned via lender bank account to borrower bank account (online transfer) and share the successful transfer screen shot with ATL. Lender's listing will be displayed and he can make offers or accept requests only on successful verification. Verification process is mentioned in section 4 of this agreement. Those lenders whose online registration is completed should submit the documents sought for verification by ATL during the visit of ATL personnel to the lender or upload online as the case may be.

3.2 ATL lender hereby agrees to receive SMS transaction alert posted by ATL on any new registrations, loan closures, repayments, offers on loans, request from borrowers etc. Registered members are availing these services on their own will and there will be no financial obligation of ATL in case of legal disputes. The registered members are obliged to notify ATL, any change on his/ her mobile phone numbers & / email address. The registered members are allowed to opt out from receiving SMS transaction alert by notifying ATL in writing.

3.3 Registered members hereby allow ATL to access, collect and display any public information available in the domain of Facebook / Linked in or any such social networking sites, in their portal. The registered members can however restrict access, collection or display of information by notifying to ATL.


4.1.  On successful completion of execution of this agreement, the lenders are subject to verification. Verification process includes physical verification to check on correctness of data provided for online registration by the lender with the proofs. Lender should provide the following list of documents at the time of  physical verification by ATL team 

4.1.1. Identify Proof:  PAN card, Passport, Driving License, Ration card or such other document which are issued by government agency.

4.1.2. Address Proofs: Passport, Driving License, Ration Card or such other document which are issued by any government agency.

4.1.3. Additional Proofs: Contact details And such other information / documents as required by ATL. The exhaustive list can be seen on the website and also will be communicated through e-mail

4.2. Lender hereby authorise ATL to obtain credit report from Credit Information Bureau (India) Limited or such other organisation which provide such facilities not only for the first time on registration but at any time during his association with ATL. The credit report shall be used for any purpose that is authorized by applicable law.

4.3. ATL has the right to reject any lender application if any information provided by lender is inaccurate or incorrect

4.4. If any changes occur in the personal information provided after posting a listing, lender must either
a) Promptly notify ATL of the change, or
b) Withdraw the listing.
In the event of not notifying, ATL at its sole discretion may take necessary action including removing the listing.

4.5 ATL Lender hereby agrees that documents sought by ATL at the time of registration or anytime thereafter become part of the official record of ATL and will not be returned. However on closure of the user account ATL will ensure that the same is destroyed.


5.1. Loan Funding:
5.1.1 On selecting toggle button from lender dashboard as active, lender might receive requests from several registered eligible borrowers, automatically; as per ATL Lender matching algorithm.
5.1.2 The lender can lend money for a minimum period that equals resp. borrower opted loan tenure. However, this period is dependent on the terms of the particular borrower loan. and same can be extended at borrower and ATL discretion.
5.1.3 Once a eligible loan enquiry is mapped to a resp. lender, lender gets a window called SLA (refer FAQ’s) within which lender needs to initiate assigned loan amount as transfer to designated bank account of the borrower. Failing to fulfill the enquiry within SLA, the loan enquiry would turn into Lost Opportunity and post that even if same lender disburses the loan, it shall be at sole risk and ATL shall not be responsible for it.
5.1.4 The interest rate, charges, fees, etc., are at sole discretion of ATL and same shall be communicated to all lenders & borrowers on ATL website and resp. mobile APPs.
5.1.5 All gains through ATL are taxable and hence must be filed as per the rules. 5.1.6 As a CSR initiate & its commitment to give back to society; ATL has come up with a feature; AnyTimeSmile (ATS) and as per same if mapped borrower opts for a contribution towards ATS, equivalent amount shall be auto deducted from resp. lender returns and ATL would also add to this contribution and final pool shall be utilized for CSR initiatives. It shall be transparent and made available for public domain. 5.1.7 ATL reserves full rights to add, modify, remove any charges, fees, etc at its sole discretion and same shall be conveyed to all registered lenders and borrowers on ATL platforms. 5.1.8 ATL no where undertakes & / assures any sort of returns to its lenders

5.2 Partial Loan Funding: Any eligible loan enquiry; depending upon ATL lender-mapping algorithm might be fulfilled by a single lender or multiple lenders. In case a loan enquiry is mapped to multiple lenders; loan disbursed is triggered / communicated only once the mapped loan enquiry is 100% fulfilled.

5.3 Delayed Funding:
ATL may delay funding of a loan:
a) If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders; 
b) To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed loan enquiry;
c) In case of delay in deposits by the committed lenders. d) In case of any technical snag / issue / delay by resp. lender bank / RBI / payment settlement agency.

5.4 Cancel Funding/ Disbursal:
ATL reserves the right to verify the accuracy of all information provided by ATL borrowers and its registered lenders, through any of the available modes including by making a tele-call before, during or after the registration, or before or after the funding/ disbursal of a loan. In case of any suspected fraud or inaccuracies in the information provided to it, ATL reserves the right to cancel the funding at any point of time before disbursal / recall the loan post disbursement of loan.


On completion of every loan transaction ATL charges loan origination / loan processing fee, loan extension fee, etc (same may vary from time to time and will be available on the website) to its eligible borrowers, for rendering its services and same does not have any sharing with resp. lenders. This amount is payable by resp. borrower on loan due date along with interest accrued to ATL designated bank account / pooling account / nodal / escrow account. However, all lenders will be informed through a communication from ATL on the same. ATL facilitates unsecured loans to its eligible borrowers. Depending upon, lending option opted by resp. lender; lender would get share in ROI; please refer ATL platform for more details, time to time and also your ATL account for any updates.

7. Late Fees

Borrower agrees to pay the Principal, Processing or Loan Origination fee and the Interest amount at the settled dates in the admitted manner. In the event of delay payments, a late fee is charged by ATL along with applicable interest and it is explicitly stated on ATL platforms. ATL would only share revenue on ROI realized as per lending option opted by resp. lender.

8.  Prepayment of loan

ATL borrowers can at time during their loan tenure repay the loan subject to the below conditions and there is no penalty for the same.

8.4.1. Placement of Foreclosure / Pre Payment request to be initiated by resp. borrower from ATL borrower dashboard as per foreclosure / pre payment terms stated on ATL Platform

8.4.2. The above conditions are subject to change at the sole discretion of ATL and can be seen on the website. These changes will be effective for ongoing loans as well as new loans.

8.4.3. Prepayment of loans allows borrower to reduce the loan tenure and subsequent interest. In such case, the lender must accept the repayment amount and reduced interest.

8.1. Interest

The rate of interest applicable to the loan is compounded, whenever resp. borrower opts an extension of loan tenure, which is subject to ATL approval. on the outstanding balance as on date of placing extension request, namely the balance of loan and unpaid interest and costs, charges and expenses outstanding at the end of the initial loan tenure opted..

8.2. Penal Charges

The borrower shall be liable to pay penal charges if any levied by the Banks on account of cheque bouncing, cheque swapping or on return of any cheque issued by the borrower or legal charges; if the case may be.


ATL does not guarantee full or partial collection of money from the borrowers. However, ATL would put its best efforts as per law to recover & / collect due amount from respective borrowers. In case a borrower misses an installment / repayment date, ATL will contact the borrower over phone and follow-up on the repayment. Late fees are charged here. In case, the borrower is not reachable over phone, he/she is contacted through e-mail & letter. If the borrower still does not pay for two subsequent months, post loan default, legal notice is sent to him / her / them. After a period of 60 days, ATL or lender either directly or indirectly will exercise all the remedies legally available under the laws applicable from time to time.  In addition, the loan may be referred to collection agencies and all the dues including the money spent in recovery will be collected from the borrower or as the case may be.


10.1.  ATL obligations:  After successful disbursement / fulfillment of loan mapped to respective lender; ATL would coordinate with borrower for repayment of due (s) along with all applicable charges, fees, etc. ATL agrees to engage the services of a collection agency on behalf of the lender in case of loan default from the borrower. ATL assumes no advisory or fiduciary responsibility with respect to lender in connection with the lending. ATL shall source & curate / process borrower applications as per its criteria and map / assign eligible loan enquiries with registered lenders as per process listed hertewith.

10.2. Lender obligations:
a) To provide accurate and true information
b) To provide certified true copies for the documents sought
c) Not to share information that may reveal lenders identity to borrower
d) To comply with the terms of use for the website, privacy policy and as well any other rules or policies set forth on ATL website ( or ATL mobile applications, any of which may be amended from time to time by ATL at its sole discretion. (Collectively known as "ATL terms and conditions").
e) To fund the accepted amount to the borrower without any failure. Within stipulated SLA time
f) To co - operate with ATL for the information/ documents sought from time to time.
g) Agree that, in connection with any loan offers,  loans or other transactions involving or potentially involving ATL, not to
(i) make any false, misleading or deceptive statements or omissions of material fact;
(ii) misrepresent his identity, or describe, present or portray himself as a person other than him
(iii) give to or receive from, or offer or agree to give to or receive from, any ATL lender or other person any fee, bonus, additional
interest, kickback or thing of value of any kind, including in exchange for such person's commitment, recommendation, or offer or agreement to recommend or make a commitment with respect to your listing;
(iv) represent himself to any person as a director, officer or employee of ATL, unless being so
(v) Post anything abusive, harmful content or pictures; which is defamatory to ATL.
(vi)Assigned / mapped loan enquiries shall only be fulfilled by transferring assigned loan amount to resp. borrower designated bank account (online transfer).