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Car Lease Policy: To Hire/Own

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Car Hire & Lease PolicyDoc No: RCOM-CHR-CAR-HIRE Version 1.0

Contents...............................................................................................................................................................................................1

OBJECTIVE......................................................................................................................................................................3

SCOPE...............................................................................................................................................................................3

SALIENT FEATURES.....................................................................................................................................................3

Scheme 1: CAR HIRE......................................................................................................................................................3

TERMS & CONDITIONS............................................................................................................................................4

Scheme 2: OIN! A CAR..............................................................................................................................................4

PROCEDURE..............................................................................................................................................................."

TERMS & CONDITIONS............................................................................................................................................#

FORECLOSURE OF LEASE.......................................................................................................................................$

MAINTAINANCE..........................................................................................................................................................1%

!ENERAL......................................................................................................................................................................1%

DOCUMENTS................................................................................................................................................................11

Ame'me() * E+ce,(- * I(e/,/e(0(-.......................................................................................................................11

A/e-0(-) ...............................................................................................................................................................12

ANNEURE 1....................................................................................................................................................................22

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o 2 o# 2$

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OBJECTIVE

!e o"#ecti$e o% t!is &olic' is to &ro$ide em&lo'ees (it! t!e o&tion to eit!er &rocure a

car %or o%%icial and &ersonal use OR a$ail it on !ire %or sole &ur&ose o% o%%icial duties.

SCOPE

!e &olic' is a&&lica"le to all )and 1 and a"o$e le$el em&lo'ees.

SALIENT FEATURES

1%1%Reliance Communications !as at &resent tied u& (it! 's% (((( ((( as our Car Lease*artner.

1%2% Car Value +CV, E-/!o(room *rice Reistration /tam& dut' aes +i% an',.

Cost to(ards accessories and insurance doesn2t %orm &art o% t!e cost.

1%3% !e lease &lan co$ers onl' &assener cars and ecludes commercial $e!icle 3 t(o

(!eelers.

1%)%An em&lo'ee can onl' o&t %or one car under t!e car lease &olic'. Leasin arranement

(ill "e a$aila"le %or t!e elii"le em&lo'ees %or &rocurin a ne( 4old car.

1%*%An Em&lo'ee can o&t %or a car $alued maimum u& to annual CC su"#ect to t!e terms

and conditions as a&&lica"le.

1%6%!e a"o$e limit re%ers to t!e on road cost o% t!e $e!icle includin t!e %ollo(in.

E /!o(room &rice 5 Net o% Discounts i% an' o%%ered

Reistration +Cor&orate,6 Octroi i% an'6 Road a 3 /tam& Dut'

VA +/tates /&eci%ic, 5 Alread' included in E-/!o(room &rice

1%+%An' additional cost to(ards accessories and insurance +i% a&&lica"le, s!all "e &aid "'

t!e em&lo'ee.

Scheme 1: CAR HIRE1%$%!e em&lo'ee s!ould not !a$e o&ted %or con$e'ance allo(ance.1%%!e $e!icle s!ould not "e reistered in t!e name o% em&lo'ee6 as sel%-!ire 4 sel%-

lease o% car (on2t "e allo(ed under t!e &olic'. !e $e!icle s!ould "e reistered

in t!e name o% an' t!ird &erson4%amil' mem"er2s name. Car Hire c!ares (ill "e

&aid mont!l' to t!e t!ird &art'. !e &a'ment (ill "e made t!rou! electronic


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trans%er in t!e t!ird &art'2s "an7 account and an' a&&lica"le taes (ill "e

deducted as &er Income a Act 1891 read (it! Income a rules 189.1%10% !e car (ill "e !ired "' !e Com&an' %or eclusi$e use o% t!e em&lo'ee

concerned and a t!ird &art' ;Car Hire Areement2 (ill "e eecuted to t!is e%%ect.

TERMS & CONDITIONS

1%11% !e o(ner (ill "e &aid t!e

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lease t!e em&lo'ee need to &a' taes as a&&lica"le on t!e u&%ront &a'ment done at

t!e "einnin +Currentl' VA,.

O&tion 1 O&tion O&tion > O&tion

Lease enure in Mont!s F F F >9Do(n &a'ment - u&%ront 0 0 0 0

Car Value *a'a"le 5 End o% t!e enure 0 0 @ >@

Insurance +&a'a"le "' em&lo'ee, Actual Actual Actual Actual

Rental &er lac +incl. VA,6 a&&lied on F0 o%t!e Gon-roadG &rice,

689 68 6>F1 6@F@

oreclosure +/u"#ect to surrender o% car, 0 0 0 0

. !e car s!all et reistered on t!e name o% t!e leasin com&an' in a /tate (!ere t!e

em&lo'ee is &osted. In case t!e $alue o% t!e car is !i!er t!an t!e u&&er limit as

re%erred in clause >. t!e em&lo'ee (ill !a$e to ma7e u&%ront &a'ment %or t!e

di%%erential amount to t!e leasin com&an'.

.>Once an em&lo'ee o&ts %or Car Lease /c!eme6 t!e amount &a'a"le "' EMI is 7e&t

de"ited to CC. *eruisite ta (ill "e a&&lica"le as &er &ro$isions o% t!e Income a Act

.Em&lo'ees can o&t %or reim"ursement o% $e!icle runnin and maintenance c!ares u&

to limits indicated in t!e com&ensation structure. !is reim"ursement s!all "e made

aainst &roduction o% "ills4recei&ts

.@Illustration i$en "elo( is %or a car (!ic! is "ein reistered in t!e /tate o% Ma!aras!tra.

!e EMI amount ma' di%%er /tates-(ise due to c!ane in VA and aes.

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o * o# 2$

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.9!e calculation is on F0 o% t!e car $alue &a'a"le in >9 EMI o% Rs. 6@F@ &er lac. At t!e

end o% t!e tenure6 t!e car o(ners!i& ets trans%erred to t!e em&lo'ee2s name "' &a'in

>@ o% t!e car $alue.

.BAn' e&enses incurred to(ards runnin and maintenance o% t!e car and suc! ot!er

e&enses as ma' "e attri"uted to t!e em&lo'ee "' (a' o% o(ners!i&4usae o% t!e

$e!icle s!all "e "orne "' t!e em&lo'ee and (ill include cost o% trans%errin t!e

o(ners!i& o% t!e car at t!e end o% t!e leasin &eriod.

.F!e sc!eme allo(s an em&lo'ee to surrender t!e car to t!e leasin com&an' and eit

t!e sc!eme (it!out &a'in an' &enalt' or %oreclosure c!ares.

.8In case an em&lo'ee resins6 !e4s!e ma' eit!er surrender t!e car to t!e leasin

com&an' or continue (it! t!e leasin com&an' "' con$ertin t!e car lease into an

Indi$idual Lease *lan on terms and condition as a&&lica"le.

.10 On surrender6 i% t!e Mar7et Value +MV, o% t!e car is !i!er t!an Outstandin

)oo7 Value +O)V,6 t!en in suc! case t!e leasin com&an' s!all &ass "ac7 suc! ain to

t!e em&lo'ee and i% t!ere is a loss incurred6 it s!all "e "orne "' t!e leasin com&an'

Em&lo'ee (ill "e res&onsi"le to account suc! ains in !is ta returns.

.11 M4/ our leasin &artner is also o%%erin a De%erred *urc!ase *lan +@0:@0

/c!eme, - At an' time durin t!e lease &eriod6 t!e "alance residual $alue can "e %urt!er

con$erted into a de%erred &urc!ase &lan. Em&lo'ees !a$e a c!oice to &a' @0 o% t!e

O)V and t!e "alance @0 (it! accrued interest &a'a"le %or t!e "alance tenure o%

lease.

.1 /econdar' Lease /c!eme details - At t!e end o% t!e lease &eriod6 t!e "alance

residual $alue o% t!e car can "e %urt!er con$erted into a secondar' lease on mutuall'

areed tenure t!rou! t!e leasin com&an' "' sinin a ne( Ve!icle Lease Contract

orm +VLC,.

.1> !e o&tions under &ara 11 and 1 s!all "e eercised "' t!e em&lo'ee in !is&ersonal ca&acit' and are outside t!e sco&e o% t!is &olic'.

.1 !e com&an' (ould reco$er %rom t!e Em&lo'ee2s salar' an' c!ares 4 le$ies

arisin %rom t!e &ossession or use o% t!e leased car "' an em&lo'ee.

.1@ In case o% intercom&an' trans%er (it! in Reliance Communication rou& on

in%ormin t!e leasin com&an' t!e car lease rental &a'a"le s!all et "illed to t!e


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trans%erred com&an'. !e relie$in com&an'2s administration de&artment needs to

in%orm t!e leasin com&an' a"out c!ane in in$oice and in%orm t!e administration

de&artment (!ere t!e em&lo'ee ot trans%erred to.

.19 In certain ece&tional circumstances +t!e%t4su"stantial damae4total loss etc., a

leased car ma' "e tem&oraril' una$aila"le %or t!e use o% t!e em&lo'ee. It is !o(e$er6

e&ressl' understood and areed t!at t!is (ill not a"sol$e t!e em&lo'ee o% !is

res&onsi"ilit' to(ards &a'ment o% lease rentals till suc! time t!e $e!icle is eit!er

surrendered "ac7 to t!e lessor or %oreclosure !a&&ens t!rou! insurance claim

settlement.

.1B Incase i% a +t!e%t4su"stantial damaes4total loss etc, !as !a&&ened durin t!e eit

&eriod o% a resined em&lo'ee6 in suc! case t!e em&lo'ee is reuired to %ul%ill t!e

mont!l' car lease rental till t!e insurance settlement !as !a&&ened. )e%ore eit t!e

em&lo'ee is reuired to i$e suc! &ostdated c!eue to(ards t!e mont!l' car lease

rental or t!e em&lo'er ma' c!oose to reco$er it %rom t!e settlement dues i% an'.

.1F In case an em&lo'ee a"sconds (it! t!e leased car6 in suc! an e$ent t!e

com&an' ma' &roceed aainst suc! em&lo'ee on criminal round and %ile a case o%

t!e%t or suc! similar measures to &rotect its "est interest6 at t!e cost and conseuences

o%.

PROCEDUREa% Em&lo'ee need to %ill uote Reuest orm +R, %or a car (!ic! t!e em&lo'ee (ants to

&rocure and attac! a *er%orma in$oice %rom a dealer o% !is4!er c!oice or ma' reuest

leasin com&an' to i$e a uotation to t!e Administration De&artment.

-% Once t!e R is !anded o$er to t!e leasin com&an'6 t!e leasin com&an' (ill enerate

t!e VLC %orm and su"mit it to t!e res&ecti$e administration de&artment (!o s!all %or(ard

t!e same to t!e em&lo'ee %or !is4!er sinatures.

c% Em&lo'ee need to su"mit t!e %ollo(in documents to t!e administration de&artment %or

aut!oriJin t!e leasin com&an' %or &rocurement o% t!e car.

i% Dul' /ined Ve!icle Reuisition %orm 5 Anneure 1

ii% Dul' %illed Aut!oriJation orm %or Com&an' Car Lease 5 Anneure

iii% Em&lo'er 5 Em&lo'ee Areement on a /tam& *a&er 5 Anneure >

i.% Dul' sined Ve!icle Leasin Contract orm +VLC, - Anneure

.% C!eue %or &a'in 0 o% t!e Car Value in %a$or o% leasin com&an'____________________________________________________________________________________________________

Date: 13 June, 2016 Released By: Cororate HR Pa!e "o + o# 2$

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.i% C!eue to(ards %irst 'ear insurance &remium &a'a"le in %a$or o% leasin com&an'

d% On recei&t o% t!e a"o$e documents6 t!e Administration de&artment s!all ta7e necessar'

a&&ro$al %rom t!e HR Head and s!all aut!oriJe t!e VLC %orm "' sinin it and &uttin

com&an'2s stam& and %or(ard t!e same alon (it! t!e c!eues to t!e leasin com&an'.

e% On realiJin o% t!ese c!eues6 t!e leasin com&an' s!all release t!e &urc!ase order to

t!e concerned dealers!i& %rom (!ere t!e $e!icle is "ein &rocured.

#% De&endin on t!e a$aila"ilit' o% t!e $e!icle a tentati$e e&ected deli$er' date s!all "e

intimated to t!e em&lo'ee and to t!e res&ecti$e administration de&artment.

!% On deli$er' o% t!e car6 t!e em&lo'ee s!all "e i$en Deli$er' Ac7no(ledement %orm

con%irmin deli$er'.

/% *ost-deli$er' documents suc! as Lease Letter6 Insurance Co$er Note4*olic'6 and RC

)oo7 s!all "e !anded o$er to t!e administration de&artment (!o s!all %urt!er !and it

o$er to t!e res&ecti$e em&lo'ee. I% an' %or(ard sale contract sined "' t!e em&lo'ee

(it! t!e leasin com&an'6 t!en t!e same s!all "e !anded o$er to t!e em&lo'ee "' t!e

leasin com&an'

TERMS & CONDITIONS

a% Knder t!e Lease Areement6 t!e em&lo'ee is reuired to commit to a minimum lease

&eriod +>94F mont!s, u&%ront.

-% !e lease car s!all "e reistered in t!e name o% t!e lessor.

c% Em&lo'ee (ill !a$e to sin t(o documents to &rocure t!e car under t!e lease areement

i.e.

Em&lo'er 5 Em&lo'ee areement +/tam& *a&er,

/el%-attested VLC. )ot! dul' %illed %orms need to "e sined and su"mitted

to t!e res&ecti$e administration de&artment %or %urt!er &rocessin.

d% !e em&lo'ee "' $irtue o% &ossession6 acce&ts t!e ris7s %or t!e $e!icle o% !e4s!e !as

custod' and is lia"le in accordance (it! t!e &ro$isions under t!e Motor Ve!icles6 Act 18FF

+

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Ve!icle Lease Contract orm +VLC, and as a result o% (!ic! t!e Com&an' su%%ers an'

loss or damae6 t!e em&lo'ee s!all in suc! e$ent "e lia"le to com&ensate t!e Com&an' %or

all suc! loss 4 damaes6 includin leal costs and e&enses caused "' em&lo'ee2s

de%ault+s,. !e Com&an' s!all !a$e ri!t to ad#ust all suc! amounts %rom t!e em&lo'ees2

salar' or aainst t!e settlement o% dues

#% Administration De&artment %or(ards t!e EMI data to t!e &a'roll team and %iles t!e

documents in t!e &ersonal %ile o% an em&lo'ee and s!all manae t!e mont!l' ad$ance

lease EMI &a'out to t!e leasin com&an'

!% HR !as t!e ri!t to re#ect a reuest (it!out statin an' reason. Em&lo'ee2s net salar' and

CI)IL re&ort s!all "e c!ec7ed "' t!e leasin com&an' "e%ore aut!oriJin t!e &rocurement

o% t!e car.

/% !e commencement o% t!e EMI s!all start as %ollo(s:-

Delivery of the Vehicle Commencement of Tenure

C00 da's

to t!e administration de&artment to in%orm t!e leasin com&an' %or ta7in necessar' action

on t!e %ollo(in.

i. I% t!e em&lo'ee (is!es to retain t!e car6 t!en !e4s!e need to com&lete t!e

%ormalities o% con$ertin t!e com&an' lease into indi$idual lease 4 de%erred

&urc!ase 4 "u' "ac7 (it! t!e leasin com&an'.

ii. I% t!e em&lo'ee (is!es to surrender t!e car and %oreclose t!e lease t!en t!e

leasin com&an' s!all com&lete t!e &rocess o% deri$in Mar7et Value t!rou! an

inde&endent $aluer and in%orm t!e admin de&artment on t!e di%%erence o% Mar7et

Value and Outstandin )oo7 Value6 di%%erence i% an' ain or loss s!all "e

communicated to t!e em&lo'ee. Ho(e$er it is e&ressl' clari%ied t!at an' ain s!all

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o o# 2$

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"e &assed "ac7 to t!e em&lo'ee (!ereas an' loss s!all "e "orne "' t!e leasin

com&an'.

iii. Leasin com&an' s!all s!are t!e %inal dues on t!e car6 i % an'6 (!ic! t!e

em&lo'ee &a's and sent a No Dues Certi%icate to t!e com&an' on t!e closure.

Knder no circumstances suc! reco$er' s!all "e 7e&t &endin to "e reco$ered %rom

%ull and %inal settlement o% an em&lo'ee.

i$. Once admin de&artment recei$es no dues certi%icate %rom t!e leasin com&an'6

t!e' s!all in%orm t!e &a'roll de&artment on %oreclosure o% suc! car lease and ad$ise

t!e leasin com&an' to com&lete all t!e trans%er %ormalities in t!e name o% t!e

em&lo'ee.

-% Incase i% t!e ad$ance notice is not ser$ed "' t!e em&lo'ee6 in suc! scenario t!e em&lo'ee

is lia"le to &a' t!e lease rental as ma' "e a&&lica"le on case to case "asis.

MAINTAINANCE

a. It s!all "e t!e res&onsi"ilit' o% t!e em&lo'ee to maintain t!e $e!icle in ood (or7in order

and its o&eratin condition and t!e com&an' s!all not "e res&onsi"le %or t!e same.

". !e em&lo'ee s!all "e res&onsi"le %or t!e maintenance o% all documents relatin to t!e

$e!icle as are in !is4!er &ossession and an' lia"ilit'6 monetar' or ot!er(ise6 arisin out o%

una$aila"ilit' o% $alid documents s!all "e to t!e account o% t!e em&lo'ee.

c. !e user o% t!e $e!icle +em&lo'ee or !is4!er re&resentati$e, s!all "e res&onsi"le %or all

leal lia"ilities durin t!e leased &eriod.

"ENERAL

#$ /c!eme 1: or t!e &ur&ose o% t!is &olic'6 em&lo'ees are not allo(ed to ta7e on !ire car o%anot!er em&lo'ee o% t!e com&an' and claim !ire car c!ares. /uc! &ractices (ill "e

treated as $iolation o% code o% conduct and disci&linar' action includin termination (ill "e

ta7en aainst em&lo'ees %ound uilt' o% suc! &ractices.%$ !e com&an' ma'6 at an' time6 at its sole discretion (it!dra( t!e %acilit' o% com&an'

leased car sc!eme.


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c. E$er' em&lo'ee is e&ected to use com&an'-leased cars onl' %or o%%icial and &ersonal

&ur&oses. In case unaut!oriJed or im&ro&er use or $iolation o% t!e *ro$ision o% t!e Motor

Ve!icles Act 18FF6 o% t!e leased car is re&orted to t!e com&an' in addition to (it!dra(al o%

t!e %acilit' t!e same ma' also lead to disci&linar' action.

d. In case a ne( em&lo'ee #oins and (is!es to "rin !is eistin car (!ic! (as on lease to

some ot!er leasin com&an'6 in suc! case same s!all "e treated as &re-o(ned car and t!e

terms and condition o% t!e leasin com&an' s!all "e a&&lica"le.

e. Once a &urc!ase order %or a car under t!is sc!eme is made "' t!e leasin com&an'6 and i%

an em&lo'ee (is!es to cancel t!e order6 in suc! case t!e em&lo'ee is "ound to &a' all

suc! e&enses incurred "' t!e leasin com&an' to(ards suc! cancellation. No income ta

"ene%it s!all "e i$en under t!is sc!eme %or suc! e&enses incurred due to cancellation.

DOCUMENTS/c!eme 1:

An em&lo'ee o&tin %or ;Car Hire2 (ill "e reuired to su"mit t!e %ollo(in documents:

o Reistration Certi%icate+once unless t!e $e!icle !as "een c!aned,

o Latest insurance &a&ers o% t!e $e!icle+ to "e su"mitted e$er' 'ear on rene(al o%

t!e car !ire areement,o /ined car !ire areement

o Co&' o% dri$in license o% Dri$er

o Co&' o% *AN card o% Car o(ner

o One cancelled c!eue %rom car o(ner +%or electronic !ird *art' rans%er,

o !e reistration and and t!e insurance needs to "e in t!e name o% t!e same

!ird *art'

/c!eme :

Documents to "e retained "':

DOCUMENTS ORI!INAL PHOTOCOP@

C0/ Re-)(/0(- Ce/(-5-c0(e A'm- 'e,(. Em,

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t!e discretion o% t!e manaement. !e decision o% t!e CHRO at Reliance Communications

s!all "e %inal and conclusi$e in t!e e$ent o% an inter&retation o% a &ro$ision o% t!e &olic'.

A%%+e,*#t*ons -

CV 5 Car Value +E-s!o(room cost Reistration /tam& Dut' aes,RV 5 Residual Value +Car Value 5 *rinci&le *aid t!rou! mont!l' lease rental,MV 5 Mar7et Value o% t!e carO)V 5 Outstandin )oo7 ValueLessor 5 !e Leasin Com&an'Lesee 5 !e em&lo'ee o% Reliance Communications and4or its rou& com&aniesVA 5 Value Added aVLC 5 Ve!icle Lease Contract orm


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Ve!icle Lease Contract orm

!is Ve!icle Lease Contract orm +VLC, sti&ulates t!e commercial and ot!er terms and

conditions under (!ic! t!e $e!icle as s&eci%ied "elo( is "ein &ro$ided under lease to M4/

+

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Declaration o# accetance o# LC -y lessee desi!nated user I !ere"' declare t!at I

!a$e read6 understood and %ull' acce&t t!e commercial and ot!er terms and conditions

+includin terms and conditions as s&eci%ied o$erlea%, under (!ic! t!e $e!icle6 as s&eci%ied in

t!is VLC6 is "ein &ro$ided to me "' m' em&lo'er "ein M4/ +name o% lessee, under a

lease areement4arranement entered into "' m' em&lo'er and M4/ and leal

o(ner o% t!e $e!icle,.

Name: +Lessee desinated user4&erson in &ossession o% t!e $e!icle, /in:

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o 1) o# 2$

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14 Coenceent !e $e!icle as s&eci%ied in t!is VLC is &ro$ided under a lease

areement "et(een lessee and lessor as s&eci%ied in t!is VLC and t!e eecution o% t!is

VLC %orms a "indin contract "et(een lessee and lessor. !e *rocess o% &ro$idin $e!icle

under t!is VLC s!all commence onl' on &a'ment to lessor o% t!e ad$ance &a'ment amount

as s&eci%ied in t!is VLC (it!out (!ic! no &rocessin s!all "e underta7en "' t!e lessor.

24 5eci#ied Dealers/i !e $e!icles s!all "e &rocured %rom Lessor s&eci%ied dealers!i&s

LesseeGs &re%erred dealers!i&6 i% an'6 s!all not "e considered ot!er(ise t!an in ece&tional

circumstances.

34 Counication it/ Dealers/i !e Lessee s!all not communicate (it! dealers once a

VLC !as "een eecuted. !e Lessor does not ta7e an' res&onsi"ilit' %or dela's in order

&rocessin and or dela's4issues in relation to ser$ice and maintenance o% t!e $e!icle etc in

suc! cases. An' and all communication in relation to order &rocessin6 $e!icle ser$icin and

maintenance s!all "e t!rou! Lessor onl'.

)4 Place o# deli.ery o "e mutuall' decided in most cases6 t!e deli$er' s!all "e oraniJed

"' Lessor on "e!al% o% Lessee and Lessee s!all o"tain deli$er' %rom &remises o% dealer.

*4 uel and additional e(enses in case o# deli.ery In case o% deli$er' o% $e!icle6 "'

Lessor +as o&&osed to Lessee ta7in deli$er' %rom dealer &remises, e&enses incurred "'

Lessor li7e %uel etc. s!all "e reim"ursed to Lessor Lessor s!all raise an in$oice on t!e Lessee

%or t!e same.

64 5eci#ied date o# deli.ery and or seci#ied're#erred re!istration nu-er In cases o%s&eci%ied date o% deli$er' and or s&eci%ied reistration num"er6 t!e Lessor s!all tr' to arrane

t!e same on "e!al% o% Lessee6 su"#ect to a$aila"ilit' o% $e!icle6 a$aila"ilit' o% s&ecial num"er

and ot!er %actors li7e RO issues (!ic! are "e'ond control o% an' &erson. Ad$ance intimation

needs to "e &ro$ided to Lessor and suc! intimation needs to "e s&eci%ied in t!e R. !e

Lessor (ill c!are reasona"le &rocessin %ees %or t!e same and an' ot!er costs6 c!ares etc

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o 1* o# 2$

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to "e incurred in relation to t!e same s!all directl' "e &aid "' Lessee. In a"sence o% suc!

&a'ment o% %ees and e&enses6 i% an'6 order &rocessin s!all not "e done and non-ad!erence

to s&eci%ied date o% deli$er' and or non-a$aila"ilit' o% s&eci%ied4&re%erred reistration num"er

s!all not "e considered as non-com&liance under t!is VLC and t!e o"liation o% t!e

lessee4lessee desinated user s!all continue under t!is VLC and t!e MLA.

+4 7n transit daa!es An' damaes to t!e $e!icle (!ilst in transit %rom dealer &remises to

mutuall' areed &lace o% deli$er' s!all "e treated as an accident and co$ered under insurance

&olic' and insurance ser$ices.

$4 D8 9Deli.ery 8cnoled!eent or4 !e DA o% t!e lessor !as to "e %illed in and

sined at time o% deli$er' o% t!e $e!icle and !anded o$er to Lessor desinated &erson4entit'

and i% t!e same is not &ossi"le6 t!en (it!in @ (or7in da's %rom date o% deli$er' t!e oriinal

co&' o% sined DA s!ould "e reac! t!e Lessor eit!er "' (a' o% !and deli$er'6 email o%

scanned co&'6 courier at reistered o%%ice address o% Lessor t!e non-deli$er' o% sined DA

"' Lessee to Lessor s!all not a%%ect ri!ts o% Lessor and in case o% non-recei&t o% sined DA6

%or &ur&oses o% "illin +in$oicin, t!e VLC date s!all "e used.

4 e/icle Re!istration !e Lessor s!all reister $e!icles under all a&&lica"le &ro$isions o%

t!e MV Act6 18FF and or an' ot!er statutor' rules and reulations in %orce at time o% suc!

reistration. !e Lessee s!all &ro$ide suc! documents6 as ma' "e s&eci%ied "' t!e Lessor %or

ena"lin suc! reistration.

104 Deli.ery o# .e/icle it/out .alid re!istration !e deli$er' o% $e!icle (it!out $alid

reistration s!all not "e done under an' circumstances. !e Lessee s!all not reuest suc!

deli$er' i%6 under an' situation6 suc! deli$er' is made6 t!en Lessee unconditionall' arees to"ear an' and all e&enses6 costs6 lia"ilities6 o"liations resultin %rom an' issue or e$ent

resultin +eit!er directl' or indirectl', %rom suc! e$ent o% deli$er'.

114 Loss o# .e/icle related docuents, eys etc ; In case o% loss o% $e!icle related

documents li7e RC +Reistration certi%icate,6 Insurance Co$er Note or Insurance &olic'6 7e's o%


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t!e car etc lessee4lessee desinated user s!all immediatel' in%orm t!e lessor and lessor s!all

arrane to &ro$ide necessar' du&licate %or a &rocessin %ee +INR @00 &er case, alon (it!

actual cost o% &ro$idin suc! du&licates includin o$ernment le$ies6 duties6 taes as ma' "e

a&&lica"le.

124 Lia-ility under otor e/icle 8ct, 1$$ ; !e lessee4lessee desinated user s!all "e

lia"le %or an' and all $iolations under t!e Motor Ve!icles Act6 18FF +includin "ut not limited to

dri$in (it!out a $alid dri$in license %or t!at cateor' o% $e!icle6 dri$in under t!e in%luence o%

alco!ol or ot!er narcotic su"stances6 trans&ortation o% an' narcotics6 "anned su"stances6 etc.

or $e!icle "ein in$ol$ed in an' 7ind o% illeal tra%%ic7in, and rules4reulations %ramed t!ere

under and t!e lessee4lessee desinated !ere"' unconditionall' &ro$ides com&lete indemnit' to

t!e lessor and an' loss6 damae +direct or indirect,6 e&enses su%%ered4incurred "' lessor s!all

"e reco$ered %rom lessee4lessee desinated user and t!at lessee4lessee desinated user s!all

%ull' coo&erate (it! lessor2s instruction in case o% an' lia"ilit' or $iolation o% t!e Motor Ve!icles

Act6 18FF and s!all also "e res&onsi"le %or immediate intimation to t!e lessor o% an' suc! act

o% commission or omission.

134 7nsurance ; Knless ot!er(ise areed u&on in (ritin6 t!e lessor s!all insure t!e $e!icle

durin t!e entire duration o% t!e VLC t!rou! Lessor2s &re%erred insurer. Lessee (ill not

insure t!e $e!icle eit!er at ince&tion or at time o% rene(als an' suc! attem&t ma' ma7e t!e

VLC in$alid i.e. Lessor can cancel VLC and im&lement a %oreclosure o% t!e $e!icle or

ot!er(ise in case o% dou"le insurance "' "ot! lessee and lessor6 lessor !as t!e ri!t to

reco$er e&enses %rom lessee or lessee desinated user. In case o% an' accident6 damae or

t!e%t o% $e!icle6 lessee4lessee desinate user s!all immediatel' intimate t!e lessor in (ritin

(it!in !ours and (ill &ro$ide suc! in%ormation and in suc! %orm as ma' "e reuested "'

lessor or "' t!e insurer and lessee4lessee desinated user to %urnis! suc! "onds and orindemnit' to lessor as ma' "e reuested "' lessor or insurer in case o% an' >rd &art' lia"ilit'.

In suc! case o% accident6 t!e%t or loss o% $e!icle6 lessee4lessee desinate user s!all also o"tain

necessar' IR at !is o(n cost and ris7 %rom rele$ant &olice station and %ull' assist t!e lessor in

settlement o% claims %rom insurance com&anies. All claims un&aid or re#ected "' insurance

com&an' %or (!atsoe$er reason +s, s!all "e reco$ered %rom lessee4lessee desinate user. In

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case o% t!e%t o% $e!icle6 Lessee4Lessee2s desinated user (ill !a$e to &ro$ide t!e %inal case

closure re&ort "' t!e court o% la( at !is4!er o(n cost and ris7. Lease rental (ill continue to "e

&aid till suc! time claim is settled. In case o% un-a$aila"ilit' o% $e!icle due to accident6 damae6

re&air6 t!e%t etc6 t!e &a'ment o% lease rental s!all continue uninterru&ted.

1)4

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Certi%icates etc, alon (it! e's and Du&licate e's s!all "e returned alon (it! t!e $e!icle.

!e $e!icle s!ould "e in standard condition i.e. condition considered to "e standard

considerin normal (ear and tear (it! due re%erence to tenure and M usae o% t!e $e!icle.

Non -standard $e!icle condition (ill include all suc! e$ents li7e alteration o% t!e $e!icle6 %itment

o% accessories +(!et!er manu%acturer a&&ro$ed and or recommended or not,6 re&aintin etc

(!ic! !as "een done (it!out (ritten a&&ro$al o% Lessor. E$aluation o% condition o% $e!icle

s!all "e done "' Lessor alon (it! e&erts +i% necessar', %rom dealers4manu%acturers At time

o% return o% $e!icle6 Lessor s!all %ill u& t!e Ve!icle Return Re&ort ca&turin t!e a"o$e

in%ormation alon (it! ot!er rele$ant in%ormation and suc! Return Re&ort s!all "e

countersined "' t!e Lessee and cost o# any or all s/ort#all o# /ysical ites and#usti%ied

costs o% re&airs to restore t!e $e!icle to t!e standard condition s!all "e &a'a"le "'

Lessee4Lessee2s desinated user.

1B, et/od o# counication and or intiation ; An' communication (it! re%erence to t!is

VLC or an't!in directl' or indirectl' related to t!e $e!icle or t!is VLC s!all "e t!rou!

raisin o% online tic7ets t!rou! t!e (e" &ortal o% t!e lessor and an' communication (it!out

tic7et re%erence s!all not "e entertained in a"sence o% tic7et s'stem a$aila"ilit' +do(ntime etc,

an email to ser$icePtranJlease.com s!all su%%ice.

1$4 Lessor instructions ; Durin t!e tenanc' o% t!e lease6 lessor ma' &ro$ide $arious

instructions to ena"le "etter ser$ices and com%ort o% t!e lessee4lessee desinated user and all

suc! instructions includin in%ormation reuest %rom lessor s!ould "e ad!ered to4&ro$ided.

14 "onayent o# lease rentals ; In an' case (!ere t!e lease rental is not &aid %or

consecuti$e mont!s "' lessee6 t!e lessor !as t!e ri!t to terminate t!e VLC and reco$er t!e

%oreclosure $alue +as de%ined in Clause 1 o% t!e MLA and as summariJed in Clause 1"elo(, in a"sence o% suc! %oreclosure $alue &a'ment "' lessee t!e lessor !as t!e ri!t to

automaticall' trans%er t!e VLC to t!e lessee desinated user or &erson in &ossession o% t!e

$e!icle and suc! &erson s!all "e construed as t!e lessee and all &ro$isions o% t!e MLA s!all

"ecome a&&lica"le to suc! &erson in &ossession o% t!e $e!icle and all o"liations o% t!e lessee


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includin un%ul%illed o"liations o% t!e &ast in relation to t!e $e!icle s!all "e assined

automaticall' to t!e &erson in &ossession o% t!e $e!icle.

204 =erination o# contract and conse>uences ; Contract s!all deemed to "e com&leted

u&on +a, e&ir' o% t!e lease tenure s&eci%ied in t!e VLC or +", u&on com&letion o% t!e

Contracted ilometers s&eci%ied in t!e VLC6 (!ic!e$er occurs earlier and +c, "' (a' o% earl'

termination as s&eci%ied in t!e MLA. On termination o% contract6 in case t!e lessee4lessee

desinated user (is!es to continue usin t!e leased car6 in suc! case a ne( VLC s!all "e

eecuted "et(een Lessor and Lessee at mutuall' areed terms in case t!e lessee4lessee

desinated user (is!es to "u' t!e $e!icle t!en suc! o&tion s!all "e made a$aila"le in case

t!e lessee4lessee desinated user (is!es to surrender t!e $e!icle "ac7 to t!e Lessor t!en

suc! $e!icle s!all "e surrendered as &er t!e met!od laid do(n in clause 19. In case o%

surrender o% $e!icle on contract termination under case +c, or under case +", a"o$e +i.e.

com&letion o% contracted ilometreae, t!en suc! surrender s!all "e considered as Earl'

ermination and %oreclosure $alue +as de%ined in Clause 1 o% t!e MLA and as summariJed in

Clause 1 "elo(, s!all "e &aid to Lessor.

214 oreclosure .alue ; or &ur&oses o% Clauses 18 and 06 %oreclosure $alue +as de%ined in

Clause 1 o% t!e MLA, s!all mean sum total o% +a, &resent $alue o% all %uture lease rentals

+une&ired &eriod %rom date o% termination to contract end date as s&eci%ied in t!e VLC,

lease rentals to eclude c!ares to(ards M/ ser$ices i% included in suc! lease rental,

discounted at im&licit rate o% interest +", &resent $alue o% estimated residual $alue at

contractual end date as s&eci%ied in t!e VLC discounted at im&licit rate o% interest +c, Arrear

dues o% lease rental and4or an' ot!er arrear dues includin ecess M c!ares i% a&&lica"le in

t!e VLC +d, &re&aid road ta and &re&aid insurance +e, cost o% all re&airs and maintenance

and all cost and c!ares incurred "' lessor to render t!e $e!icle in ood and &ro&er (or7incondition +includin all cost6 c!ares %or re&ossession o% t!e $e!icle and liuidated damaes i%

an', +%, %oreclosure %ee o% on sum o% +a, and +",. !e sum total o% +a, to +%, s!all "e reduced

"' t!e !i!est o%%er sale $alue +o%%er recei$ed "' lessor %rom o&en mar7et sources, o% t!e

$e!icle in case t!e $e!icle is surrendered to t!e lessor. In case t!e $e!icle is surrendered as

s&eci%ied in Clause 0 a"o$e and t!e VLC s&eci%ies

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$alue s!all eclude items +a, and +",. An' securit' de&osit recei$ed (ill "e ad#usted %rom t!e

sum total as s&eci%ied a"o$e.

224 Reossession ri!/ts o# t/e lessor ; In case o% non-&a'ment o% lease rentals or non-

surrender o% t!e $e!icle a%ter end4earl' termination o% t!e VLC6 t!e lessor !as t!e

unconditional ri!ts6 as t!e o(ner o% t!e $e!icle6 to re&ossess t!e $e!icle %rom t!e &erson in

&ossession o% t!e $e!icle and suc! re&ossession can "e made "' lessor (it!out an' &rior

intimation and (it!out necessit' o% recourse to an' ot!er leal4#udicial &rocess. /uc!

re&ossession s!all not a%%ect t!e ri!ts o% t!e lessor under clause 18 o% t!is VLC.

234 =rans#er and or assi!nent ; Lessee4lessee desinated user cannot trans%er and or

assin an' ri!ts on t!e $e!icle6 direct or indirect +includin trans%errin &ossession o% t!e

$e!icle to >rd &art' includin %amil' mem"ers, (it!out &rior (ritten consent o% t!e lessor under

an' circumstances (!atsoe$er.

, "oncoliance it/ ters and conditions o# LC In case o% an' intentional and or

unintentional non-com&liance o% t!e a%orementioned terms and conditions6 t!e same s!all "e

considered as an e$ent o% de%ault "' lessee4lessee desinated user and all &ro$isions in

relation to e$ent o% de%ault as contem&lated under t!is MLA s!all a&&l' i.e. t!e lessor can

terminate t!e VLC and a&&l' %oreclosure clause no 1 o% t!e MLA


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8""?@AR? 1

Re>uest #or car under Car lease olicy

+Em&lo'ee Need to sin t!is %orm and !and it o$er to Administration De&artment,

Date:

o6

!e Head Human Resources6

CoanyEs "aeF

LocationF

/u"#ect: Reuest %or Car under t!e Car Lease *olic'

Dear /ir4Madam6

I (is! to a&&l' %or a car under t!e Com&an'2s &olic' on

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8nne(ure 19a4

8ut/oriGation #or #or Coany Car Lease

+Em&lo'ee Need to sin t!is %orm and !and it o$er to t!e Administration De&artment,

Date:

o6

!e Head Human Resources6

CoanyEs "aeF

LocationF

/u"#ect: Aut!oriJation to de"it and reco$er suc! e&enses %rom t!e salar' incurred under t!e

car lease.

Dear /ir4Madam6

I !a$e "een allotted a leased car under t!e car lease sc!eme "' t!e Com&an'. In t!is

re%erence I !ere"' su"mit a sined co&' o% t!e areement alon (it! t!e a&&ro$ed reuest

%orm dul' sined and a&&ro$ed "' 'our ood sel%.

On m' reuest6 t!e Com&an' !as arraned4areed to arrane %or t!e car under t!e Com&an'

lease sc!eme6 and I !a$e "een in%ormed o%6 and I !ere"' aree to a"ide "' t!e terms and

conditions o% suc! lease sc!eme &ro$ided "' t!e leasin com&an' and as mentioned in t!e

Com&an'2s Car Lease *olic'. I understand t!at t!e Com&an' !as i$en me t!e ri!t o%

&ossession and use o% t!e car and I !a$e no o(ners!i& ri!ts on t!e said car till t!e car lease

tenure6 as o&ted "' me6 is com&lete and I !a$e %ul%illed all t!e %inancial o"liations to t!e lessor

o% t!e car at t!e end o% t!e lease tenure. I also understand t!at it is t!e sole res&onsi"ilit' o%

mine %rom time to time to manae t!e maintenance6 u&7ee& and securit' o% t!e car and s!allstrictl' %ollo( t!e la( o% t!e land6 rules and reulations s&eci%icall' o$erned under t!e Motor

Ve!icles Act6 18FF.

I aut!oriJe 'ou to directl' de"it m' com&ensation and "ene%its (it! t!e Euated Mont!l'

Installment +EMI, and an' ot!er a&&lica"le interest c!ares6 VA6 /er$ice a and ot!er taes


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and statutor' le$ies. I com&letel' understand t!at at t!e end o% t!e lease tenure6 I (ill !a$e to

com&lete t!e %inal %inancial settlement (it! t!e leasin com&an' i.e. t!e lessor o% t!e car and

&a' an' suc! dues or taes t!at I am reuired to &a'.

In t!e e$ent o% m' se&aration +resination6 termination6 retirement, %rom t!e Com&an' "e%ore

t!e end o% tenor6 I aree to &urc!ase t!e car "' &a'in directl' to t!e leasin com&an' +lessor,

suc! outstandin amount toet!er (it! interest and ot!er c!ares6 i% an'. In t!e e$ent o% an'

de%ault o% &a'ment committed "' me6 I aut!oriJe t!e Com&an' to ta7e &ossession o% t!e car

and !ando$er t!e car "ac7 to t!e leasin com&an' and deduct an' suc! lia"ilit'6 commercial or

ot!er(ise arisin out o% suc! action %rom m' %inal settlement. Incase i% not!in is reco$era"le

%rom t!e %inal settlement6 t!e Com&an' s!all &roceed (it! suc! leal action as it ma' deem %it.

I also understand %rom t!e Com&an'2s Car Lease *olic' t!at I s!all "e sole res&onsi"le %or

ta7in care o% t!e car leased to me and in t!e e$ent o% t!e%t4total loss o% car due to accident6 in

suc! e$entualit' I s!all "e res&onsi"le to &a' t!e mont!l' car rental and an' suc! e&enses

incurred till suc! time t!e insurance com&an' settles t!e claim. I am also a(are o% t!e leal

conseuence6 i% I a"scond (it! t!e car (it!out %ul%illin t!e car leasin term and $iolation o% t!e

areement t!at I sined (it! t!e lessor and4or (it! t!e Com&an'. All suc! lia"ilit' eit!er

commercial or leal or ot!er(ise incurred "' t!e lessor and t!e Com&an' s!all "e "orne "'

me.

I understand t!at a &eruisite $alue s!all "e considered %or com&utation and deduction o%

Income a directl' %rom m' com&ensation6 as and (!en a&&lica"le under Income a Act and

rules durin t!e car lease tenor as (ell as at t!e &oint o% trans%er.

I !ere"' certi%' t!at I !a$e read and understood and acce&ts all t!e terms and conditions

mentioned in t!e Com&an'2s Car Lease *olic' and mentioned in t!e Ve!icle Leasin Contract

orm.

TEm&lo'ee NameU6 /inature 3 !um" Im&ression

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8nne(ure 2

8R???"=+Em&lo'er 5 Em&lo'ee Areement on a /tam& &a&er o% a&&ro&riate $alue as an areement,

!is Areement is made at WWWWWWWWWWW on t!is da' o% WWWWWW +(o

t!ousandWWWWWWWW, "et(een WWWWWWWWWWWWWWWWWW6 a com&an'

reistered under t!e Com&anies Act6 18@9 and !a$in its reistered o%%ice at

WWWWWWWWWWWWWWWWWWWWWWWWWWWand cor&orate4"ranc! o%%ice

atWWWWWWWWWWWWWWW.6 +!ereina%ter called t!e

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.> !at t!e Em&lo'ee s!all $eri%' and c!ec7 t!e car6 and s!all not !old Em&lo'er lia"le in an'

manner (!atsoe$er %or t!e de%ect in t!e car.

. In case t!e Em&lo'ee does not "u' t!e car6 t!e Com&an' s!all "e %ree to surrender t!e

same to t!e lessor. In case o% an' loss 4 damae su%%ered "' t!e Com&an' on t!is account6 t!e

same (ill "e reco$ered %rom t!e Em&lo'ee. !e Em&lo'ee !ere"' irre$oca"l' aut!oriJes t!e

Com&an' to ad#ust t!e amount o% loss 4 damae su%%ered "' t!e Com&an' %rom t!e de&osit

and 4 or %rom t!e dues6 i% an'6 &a'a"le "' t!e Com&an' to t!e Em&lo'ee. !e s!ort%all6 i% an'6

(ill also "e &aid "' t!e Em&lo'ee.

.@ !at t!e Em&lo'ee s!all not create an' c!are6 encum"rance or lien on t!e car nor (ill

&ermit its use "' an'one else.

.9 !at t!e lessor s!all 7ee& t!e car com&re!ensi$el' insured and t!e em&lo'ee s!all &a'

directl' to t!e lessor to(ards cost o% suc! Insurance &remium

3. INDEMNIFICATION BY EMPLOYEE

>.1 !e Em&lo'ee arees and con%irms t!at under t!e contract mentioned in clause 1 a"o$e6

t!e Com&an' !as underta7en certain o"liations to "e %ul%illed on "e!al% o% t!e Em&lo'ee.6 t!e

Em&lo'ee !ere"' arees and indemni%ies t!e Com&an' %rom an' loss 4 damaes6 and4or an'

ot!er lia"ilities arisin %rom t!e Em&lo'eeGs nelience in &er%ormance o% t!e o"liations to "e

%ul%illed under t!e a%oresaid Contract.

>. !e Com&an' !as &ro$ided co&' o% t!e a%oresaid Contract to t!e Em&lo'ee and t!e

Em&lo'ee !as read and acce&ted t!e o"liations im&osed on Com&an' under t!e a%oresaid

Contract and as &er t!e Com&an'2s Car Lease *olic'6 and %urt!er indemni%ies t!e Com&an'

%rom an' damaes6 and4or an' ot!er lia"ilities arisin to it as a conseuence o% t!e Com&an'2s

&er%ormance o% t!e Contract.

>.> !at t!e Em&lo'ee s!all &ro$ide %ull co-o&eration reuired %or &rocessin an insurance

claim. In t!e e$ent o% t!e "ein declared ;VOID2 due to non-com&liance o% tra%%ic rules and

reulations "' t!e dri$er6 t!e em&lo'ee (ould "e lia"le to &a' all losses and4or damaes.


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>. urt!er6 s!ould t!ere "e an' ot!er lia"ilit' on t!e Com&an'6 as a conseuence o% t!e

Em&lo'eeGs use o% t!e Car t!e Em&lo'ee s!all indemni%' t!e Com&an' %rom t!e same.

>.@ In t!e e$ent o% a !e%t4otal Loss o% t!e Car6 t!e Em&lo'ee arees and underta7es t!at

!e4s!e s!all %ile t!e .I.R. and ot!er documents reuired "' t!e Insurance Com&an' to assist

t!e leasin com&an' in reco$erin t!e insured $alue %rom t!e Insurance Com&an'.

>.9 In no e$ent6 Em&lo'ee s!all ma7e an' claim aainst Com&an' or !old t!e Com&an'

res&onsi"le %or an' loss or damae to t!e &erson or &ro&ert' o% t!e Em&lo'ee arisin out o% t!e

use o% t!e Car "'4%or t!e Em&lo'ee.

>.B An' e&enses incurred to(ards runnin and maintenance o% t!e Car and suc! ot!er

e&enses as ma' "e attri"uted to t!e Em&lo'ee "' (a' o% &ossession4usae o% t!e Car s!all

"e "orne "' t!e Em&lo'ee and (ill include cost o% trans%errin t!e o(ners!i& o% t!e Car at t!e

end o% t!e lease &eriod.

>.F !e Com&an' (ould reco$er' %rom t!e Em&lo'ee2s salar' an' c!ares 4 le$ies arisin %rom

t!e &ossession or use o% t!e leased car "' an Em&lo'ee.

>.8 In t!e e$ent o% an Em&lo'ee a"sconds (it! t!e Car6 in suc! an e$ent t!e Com&an' ma'

&roceed aainst t!e Em&lo'ee on criminal round and %ile a case o% t!e%t or suc! similar

measures to &rotect its "est interest6 at t!e cost and conseuences o% t!e Em&lo'ee.

>.10 !e Em&lo'ee "' $irtue o% &ossession o% t!e Car acce&ts t!e ris7s %or t!e Car o% !e4s!e

!as custod' and is lia"le in accordance (it! t!e &ro$isions under t!e Motor Ve!icles Act6 18FF.

>.11 In case t!e Em&lo'ee %ails to %ul%ill an' o% !is4!er o"liations as mentioned a"o$e or as

&er t!e Master Lease Areement +MLA, sined "et(een t!e Com&an' and Lessor or t!e

Ve!icle Lease Contract orm +VLC, and as a result o% (!ic! t!e Com&an' su%%ers an' loss or

damae6 t!e Em&lo'ee s!all in suc! e$ent "e lia"le to com&ensate t!e Com&an' %or all suc!

loss 4 damaes6 includin leal costs and e&enses caused "' Em&lo'ee2s de%ault+s,. !eCom&an' s!all !a$e ri!t to ad#ust all suc! amounts %rom t!e Em&lo'ees2 salar' or aainst t!e

settlement o% dues.

4. Severance of em!o"men# $%#& Em!o"er

.1 !at in t!e e$ent t!e Em&lo'ee lea$es t!e em&lo'ment o% t!e Com&an'6 or t!e Em&lo'eeGs

em&lo'ment (it! t!e Com&an' is terminated6 t!e Em&lo'ee underta7es to eit!er %oreclose t!e

____________________________________________________________________________________________________ Date: 13 June, 2016 Released By: Cororate HR Pa!e "o 2+ o# 2$

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car lease "' eit!er enterin into a Indi$idual Lease *lan o%%ered "' t!e leasin com&an' or )u'

)ac7 t!e Car or trans%er t!e areement to anot!er consentin em&lo'ee or to !is net

em&lo'er6 i% acce&ta"le to t!e leasin com&an'6 as a &re condition or ma' surrender t!e Car to

t!e leasin com&an'

. !e Em&lo'ee s!all ta7e t!e res&onsi"ilit' to con%irm !is4!er resination and eits t!e

Com&an' or (is!es to eit t!e leasin arranement and s!all i$e a &rior notice o% >0 da's to

t!e administration de&artment and s!all in%orm t!e leasin com&an' %or ta7in necessar'

action on t!e leasin sc!eme a$ailed.

.> Incase i% t!e ad$ance notice is not ser$ed "' t!e Em&lo'ee6 in suc! scenario t!e Em&lo'ee

is lia"le to &a' t!e lease rental as ma' "e a&&lica"le till suc! time t!e leasin com&an' i$es a

NOC to t!e Com&an'.

IN INE//

HEREO t!e &arties

!a$e sined t!ese

&resents6 on t!e da'6

mont! and 'ear %irst

a"o$e mentioned.Em&lo'ee Name

Name o% t!e itness Name o% t!e itness

/A* No Address o% t!e

itness

Address o% t!e itness

Residential AddressContact No:-*ersonal Mail Id:-

/inature

/inature

/inature