Joint Letter of Indemnity

This agreement executed this 15th day of October 2026 by ABC Cements Corp (CIN: L26942MH1999PLC123456), a company incorporated under the relevant Companies Act and having its registered office at Nariman Point, Mumbai (hereinafter called the "COMPANY") of the one part.

IN FAVOR OF THE LENDING BANKS:

1. State Bank of India (Lead Bank / SBI) constituted under State Bank of India Act, 1955 and having its office at Main Branch, Mumbai.
2. SBI (Participating Member)
3. Canara Bank (Participating Member)
4. Syndicate Bank (Participating Member)
5. Overseas Bank (Participating Member)

WHEREAS the Lead Bank has issued a Guarantee on behalf of the Company in favor of Grindlays Bank for Rs. 210 lacs.

Liability Distribution Schedule:

NOW THEREFORE, the Company and the Lending Banks hereby agree that:

1. The Company undertakes to make good to SBI all sums which the Lead Bank may be called upon to pay under and in terms of the said Guarantee together with interest and costs.
2. The Lending Banks shall distribute the commission earned in respect of the said Guarantee exactly as set out in the schedule above.
3. Each Participating Lender agrees to contribute to SBI in the same proportion as set out in the schedule above in respect of all payments which the Lead Bank may be obliged to make.