MOU signed with Canara Bank, valid from 01-11-2012 to 30-11

10. l5irt thc 1-r,r.tics shall hcrcbi'irlcrocabll sLrtrntit to thc cxcltrsirc.iLrrisdictitlt-t ol'thc
(..ur.t r.r'cl lrib'nals in Ncu l)clhi lor purposcs ol' anV sUit' actitltt or otllcr
1-rrocccclins
\\hich rclatcs ro this clcccl. lloricrcr. i1'there is atrr clclhult ol'l:MI otl
t5c 'urt ot'llSNl, cnplorcc'borro\\cr. thc lcgal Procccclillgs
call bc initiatccl at tlic
t'csltce tir c lllltcc ol'tlisbursing bt'lrttcll'
Il. lhut n0 i-uncllrlltlcnt. ntltillcation ()l'fclcasc ll'()nl ()r\\'atiVcr
tll'itttr pro\ision hct'ctll
shall bc cl'ttctirc unlcss iu $riting ancl sigrlcd [ry'thc paftics'
ll. 'l'hat this clcctl ma1' bc exccr'ttccl itt t$o or l.uore counterparts. ciich ol'rihich shall
bc dccmccl an original. but arll o1'$hiclltogcthcr shall crtnstitutc ()uc ancl thc salllc
it-tstt'Lttlctrt.
ll.
aucl thc rigIts lurl 9['rligatitlrts hcrcr-ttrclct'sh1ll bc collslrLlccl Ill
I'hat this tlcccl
ancl sovcrncd irr tlrc sttbstittltivc li-l\\ S ()l' lrlciia'
itccot'tlltttcc rr itlt
l-+. ll' a.r l)r.()\ isi.,n licrcol' is loLrncl t-,) rr court ol' ctttrtllctctrt .iurisdicticin ttl bc
'rohibitcd or Llr-lcnfbrccablc it shall bc iuctl-cctivc onll to thc crtcut tll'such
proliibiti.. or uncnlbrccatrilitr. ancl such prohibitiolt or ttnctllorccabilitY shall not
iu',liclatc thc bllancc ol'such provision to thc cxtcnt it is ttot llrohibitcd or
Llltcutirrccublc- l-tor invaliclatc lltc othct' ;lrtlr isitltrs hcrcclt"
l-\. lrr tlrc c'cr-rt el'a1r clispr-rtc or dil'lcrcncc rclating to: ltrisit-rg li'ottt or collllcctccl $ith
this \4OL i. such clisltgtc ()r clil'lLrcncc shall hc rct-crrccl tr) citlicr llaft\ ttl tlic
arbitr.,tiou ol'onc ol-thc ,'\r'bitrators in thc I)cllarturctrt ol'I)ublic I:ntcrllriscs ttl bc
no'riratccl bv the Sccrctarv to thc (iovcrnmcnt o1'India. irl chargc o1'Ilureau o1'
lr'trlic Irrtcr:priscs. 'l'hc r\rbitration aucl Conciliatiorl Ac1 199(r shall utlt bc
a'plic,trlc to thc .,\rbitration r-rnricr this clausc, .l hc aultrtl ol'thc r\rbitrattlr shall
6c bi'4i'g Ltpou thc ltartics t() thc tlisltutc. [)r()\iclccl. htlNcrct'- i-ll]\ ;lat'tr ltgel'icrc'-l
l.rr srrch ari,r.cl nra\ r'r.urlrc a liu'tlrcr rclL'r'cncc lor scttirtg itsiclc 0t' t'cr isi()ll ()i'ltrtat'tl
t. tlrc [.lru Sccrctu;r. l)cplrrtnrr]l]i ol' l.cgal ,\1'lirirs. N,lirristrr ol' I-ltrr & 'lirsticc'
(j.r cr.rprcrrt gl' lpclia. t,pon sLrch rclcrcrrcc. thc dislttttc slrall bc clcciclccl br thc
'l'hc
[.u* Sccl.cti-ir.r.159sc.1",-]isi..,n shall bincl thc partics lrnarlll ancl ccltrclltsiYcll'.
partics ip thc clispute u,ill sharc cclr-rallv thc cost ol'arbitration as intituatcd by' the
r\r'bitt'atot'.
l(t.'l'hat tlic banl.. shall ltoutinatc lit lcast onc trranch (in casc thcir lll()rc thittt tltrc
bra'ch sl'thc baph) 1t cacI Scctlntlurr Sn itching Arca(.l clccottt I{cr clllrc I)istrict
lirr. sulctitlp. parurcnt ol' loan r,rncl pinurctrt o1' lrVll rccorcrccl br llSNl" l'his
N,lOti shall bc bipclipu l,rpgl bolh thc partics oll all lnclia lcrcl.