ci*.q M,iii;ft;iRA TIIIS DOND TRUST DIED Gh& "D..d' or "B@d T@l D..d") MMbai d lhb 30d dIy of N@mber 2016 b€.t@ RF 190934 c!n:d€.16liffi h q,!qu6 2016 STATI BANK OF INDIA a lody .otpo6te @tutihlbed udq the of lnalia A.t 1955 (A.lNo. )oCII of 195q od having ib CenEd Baik Bhava4 Madde C.tu Road, M6bai-4{XX|zI, (hercinafter d 't'h. B.rl" or "t!. I$u6", which expBid slult itulude its ,nd aigs wnu*d the ore* d ffiins short s r€qune or ldiitlOt F. lH ONE PART AND IDBI TRUSTEESIIIP SERVICIS LIMITED, a cohpdy ud€r Secdbn 2(20) of the CdlPdid Act 2013 wilh Corymte ldmtidmdm Nmb€r (CIN) U6599IMII2OO1@I131154 dd hring lb registeied otae at Arirn Bddh& Gllud n@, 1Z R. Kami Mar& Ballrtd Eetdte, Mubai {00 001 (hd€ioltd EIe@d to a "rh€ T@t€ci, which o(P68im rhall in lu.le {s $c*6 drd dlgc whe'!@ the @ten d 'tlding dhrll e rqulr or pmir) of lHE OTHER PART, {Ih. kM qnd AE Ttuee .ft teitult r @lkatto.ly te@ b 6 th. "Pittt s" ann tunioaurq G d'P6q",6 dt tubje.t u ME t rar qriE)
Transcript
ci*.q M,iii;ft;iRATIIIS DOND TRUST DIED Gh& "D..d' or "B@d T@l D..d")MMbai d lhb 30d dIy of N@mber 2016 b€.t@
RF 190934
c!n:d€.16liffi
h q,!qu6 2016
STATI BANK OF INDIA a lody .otpo6te @tutihlbed udq the
of lnalia A.t 1955 (A.lNo. )oCII of 195q od having ib CenEdBaik Bhava4 Madde C.tu Road, M6bai-4{XX|zI, (hercinafterd 't'h. B.rl" or "t!. I$u6", which expBid slult itulude its,nd aigs wnu*d the ore* d ffiins short s r€qune or ldiitlOt F. lHONE PART
AND
IDBI TRUSTEESIIIP SERVICIS LIMITED, a cohpdy ud€r Secdbn 2(20)
of the CdlPdid Act 2013 wilh Corymte ldmtidmdm Nmb€r (CIN)U6599IMII2OO1@I131154 dd hring lb registeied otae at Arirn Bddh&Gllud n@, 1Z R. Kami Mar& Ballrtd Eetdte, Mubai {00 001
(hd€ioltd EIe@d to a "rh€ T@t€ci, which o(P68im rhall in lu.le {s$c*6 drd dlgc whe'!@ the @ten d
'tlding dhrll e rqulr or
pmir) of lHE OTHER PART,
{Ih. kM qnd AE Ttuee .ft teitult r @lkatto.ly te@ b 6 th. "Pittt s"ann tunioaurq G d'P6q",6 dt tubje.t u ME t rar qriE)
rrdFrg MA RF 190933
qlla$hrEdffiEE &A*.
"" "" "ior.?nu62016
J-_
wuBREAS:
(A) Wi$ ! vi€w to augMt ihe Addltidal Tis I Crprtalopital baa oI Lhe B.nr for tufthtr sbengtno$lg ib Tieadeq@cy dd for o1|,min6 irs log't€d t9ft6, rhe
ot th€ Bdnlv .t its !Rth8 h€ld o l4d Nwember, 2014 &2016 md the Cdudttee ot DjGro6, .t ib m.€ring r|
II
I
t
I
Augu4 2016 sd 21. O.tober,2016 apprcv€d the isudr9ilgtffq. ffiMerdbl!, p€tpetu.l, sbordnd.4 $arEd Ba&l m .6PLdtAdditioMl Tid r Bdds in the utue of deldts of dre fc vat!. ofRr, 10la$5 (Rqps Ta brn! ody) €.cIL in d€ d@b*iili.ed foft',ld cash at pd, agSrcgating Rg aslx, @@ (Rupd Two lrr@ndmd live lEndftd |m dnd.
In relarim lo th€ aloEi4 m 25.10,2016 0E Aall hd b$€d lneBdd3 (a delin€d h@innft.!) on a lrivlie plamt bais uder ftedie.t@ do.udr dated octota 24 2015 (the "I q@tidMddddm" d "Di&lose Do.ddf l.
Ai rie 4qu€t of rhe Belr IDSI Ttut4lrip sereic Linft€d naa8reed to act @ lhe TEltee for the b@dit of the Bondholds uderhen brE ddted 2l.09.2016.
(B)
(c)
I
I
I
(D) Tte parti6 heelo n@ prcplE to adte a DebentutsbeinS hr* pffiE for setting dr th. dertjled tetm dnd
dd stipui.tim of the Bdds N w€! 6 the B.rkr and
obligrfid nr rspet of the Bond! md the tdB md @ndiaDoinhldt of dE Trotee.
NOI,V TIIIS AOND TRUST DIED t{,liNrESSETlI ed it is heeqruilag@d fil <leclnEd !y dd t€tw6 tle Pard6 hereof @ @de
RF 190932
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DENNMONS AND INIERPRETATIONS
h inse presdrs lrns th@ & d',lhi!8 it|.tmbieni io dE sbje.t d(dtqt thercwitlv rll €pit li*d tetu led hset4 anls olhtri*delined el6shde in du d(](:l:mt, shal l6ve Are folowing
"Applt at" or "InE to!, ahrl ad a l€tm who !Ek6 d offer todubF.ribe the Bond! paumt to the bertu of the Dslc@ Daffitand ore Appli6l@lo@
iiil
"Application Form" snall ftean rhe fo.m in which ttre Appticant shatlmke an off€r to subscribe ro the Bonds lnd s,hich will be conside.€das the appli.ation fo.altonnentofAon.ts in the Issue.
"Bondnolded4" shall mean any p€rson o. €ntity holding the Bondsan{i whose name appcab in the tist oI B€ncficiat Owne6 provi.t€d bythc Depositories and inclu.tinS such idtiat Bondhotde.s, wnosubscrib€d b rhc Bonds at the primary stage of isslance of rhe Bondsand whose names appear inSchedule I hcreot
"senefi.ial owne(s)" shall mean Bondhorde4t holding Bond(s) indem.teialized lorh (Beneficial Own€i of the BondG) as detined incrause (.) oI sub-section (1) of scction 2 of thc Depositories ,Act, 1996).
"Board" or "Board of Diiectors,,shallmean rhe Ccntrat Board of Star€Bank of India or a Conmittee thereot udess orherwise speciti€d.
"BondG)" shall mean rh. Non,Convcrribte, perpetuat, Uns{urcdtarable Basel III compliant Additional Ticr I Bonds in the nature ofdebcntures having lac€ valle of Rs. 10 l.kh each issued by State Bankoflidin fo. nrclusion in its Ti€r 1 Capital
"Bqsin€ss Day" shall mean a day (othe. than sunday and a publicholiday for the purpose oi Section 25 of th€ NeSotiable IrotrumcntsAct, 1881 and any other day on which b.nlis are .loseo ror cusromerbusiness) on which commercill banks are open lorbusiness in the.ity01 Muhbai, Mah,rashha.
"Call Option Date" shall mean such dar€ as may be speciticd as ttre'Call Option Date' whcn a CaU Option is erercised in r€rms of thelnJornation M€moranduh.
"Coupon" shall havc th€ m€aning ascribed to fie rerm in fielnJormation M€morandum.
"Coupon Payment Dare" shall mean the amiveisa.y date or theDeefr€d Date or Alohmenr each tear, subjcct to RBI ReSulations (up toC.ll Option Date, in case the Call Option is exercised by rhc Bank)
"Deened Date or Allotment,, shall mean25th O.tober 2016.
"Depositort" slDll mean either the Cenrral Depository SenicesLimitcd or the Narional Securiries Deposiroiy Limit€d.
"Disclosrr0 Document" or ,,rntormarion Menorandum,, sha heanDisclosur€ Document dat€.i 2.d October,20i6 prepared in compliancer{ith the S{urities and Er.hange Board oI lndia (tssuc and Lisring ofDebt S*uriri€s) Regutationt 2008 and issued by Stare Blnk 01 tndia(the Issucf) to porcntid nrvcstors tor prjvat€ pta.cment of the Bonds.
"rinancial Y€ar" shali mcan the a.counrinS pc.iod .onnncncrng romApril l ol eactr yc.. and €ndingon March 3l of rhc nexr I,ear.
"hsuer" or "SBI" or "Bank" shall neanStare Bank oftndi., a staturorycorporarion .onstituted und€r thc state Bank of India Act, 1955 a.dhn'ing its .cntral olfi.. at, State Bank Bnava4 Madamc Cama Roa.i,
"Law" shall mean alt appli.able staturcs, enadmcnts, Acts of .nylcgislahvc bodl in lndia, ordinan.e, r!t.,? byelaws, .cgurarons,notifications, guidehres, policier directions, dircdives, judgments,decree, and o.ders of any covermenral Audroriry, statutoryaothoity, kibunal, board, court rccognised srock ex.ndngc, o. ornerSoverment l rcstridion or any similar form of deisioo ordetcrmnration by, or any interpr€Llrion or a.tminjstration of any ol th€loregojng by, any staturoiy o. reSularory authoriry (each harjng thelor.e of law) whcther in effcct as of the date of rhis Deed or rhcreafte.and in each case any modification or recnacrrnent thereof.
"Depositories Act" shall mean the Delositori€s Act 1996, as amended
"Mnjority Bondholders" shall m€an slch of $€ Bondhotdeis whorepicsenl not lcss than { (three lourh, ot thc aggregare Unpai.lPiincipal Amolnts ol all Ronds outsta.ding for the tnne being and
"NEFr" shall mean thc 'National El{tronic lunds Transfer,established by RBI for carling out inter,bank lunds rransferslndia (and hom India roNepat).
"NSDL" snall mean National Securirics Deposiiory Limjt€d.
"PAN" shall mcan Permanent Accounr Numb
"PONV" shall mean rhc Pohr of Non Viability for rhe Bank asdete.mined by the RBI as per thc RBI Cuidelines.
"Prin.ipdl Amount" sh.U frean the facc value of the bonds.
"Rs." or "INR" or "0 " shalt mean rhe ofliciat curency ol lndia or the.uri€ncy sign lor th€ Indian Rupee.
"RBI'shall 'rean
Rcse.ve Bank of India.
"RBI Norms" of "RBl cuidelines on B.set tII,, or ,,Basel lltCuidehres" shall drrn the Rdsli IJI CaprraT nc8llaiioN issu.dby RBI vnte Master Cn.ub. No RBI/2015 ,161 58DBR No BP.BC1121.06.201/2015-16 dated july 01, 2015 andClarilication issue.t by RBI vide Masr€r Circutar RBI/201516/285DBR.No.BP.RC.n/ 27.06.201/ 2A75-76 datcd Janua.y 14, 2016, .ndamendments made thereto from time to time
"RTGS" slall mean RBI operared Rcal Time Cross S€ftlcnent systemwhich facilitates on line r€al tine scttlement ol pavmcnts erther on
Sross basis or through multilateral sdtlcment batches.
"R€cord Date" shall m€an 15 (filteen) days prjor to ea.h CouponPaymenr D.te / calr oprion Dire (as thecase m.y be). h the evenr rheR€cord Datc falls ona dalIhich is not a Busnress Day, thesucceedingBusnress Day wi1lbe consider.d as Record Dat€.
"Re8istrar" shall mcan Datamti.s rin.ncial Services Linircd actingas regist.ar to Lhe issue
"SBI Ac( sh,ll mean Stat€ Bank of tndia Ad, 1955 .s amende.i lrom
"SlBl"shallmean the Seclrities and Exchangc Board 01 India,constitltcd under dre SEBI Act1992.
"SnBI Dcbt ReAqlations" sh.llBoard of lndia (Issue and ListinSas amended from time to time.
mean the S€curitics and lxchangeof Debt S{urities) Rcgulations, 2008
"SEBI Act" sirall m.an theS*uriti€s1992 asamended from tihe to tine.
anJ E chrnEe BoardofJnd a A(t,
"The Compani* A.t" shall mem.The Cotulmies Act 1956 to theeatcnt nor repeatc{i/ and the cohpani€s Act 2013 ro the extentprovisiore of the Compani€s Act, 2013 have been norilied by the
"The lssqe" shall mean the privare placement of Bonds by Srare Bankof India as per the terN of the Tratraction Do.uments
"Transiction Do.uments', shall mean collectivcly the .jocumentsex€cute.l and or to be cr(ut€d by rhc Bank in connc.tion with thesond issue in.luding but not limited to th€ following:
(e)
(t
the Dis.losure Documcnr,
the letter appointing the Trustee
L€tter appointing the ReSistrar and the agi(ment enr€red intobetween rhe sank and Regish.a., and
any other dftument dcsignated as a Tiansa.tion Docunent by
"Trqstee" shall nean IDBI Trusteeship Senices Limited in its capaciryas the Trusr€e for the Bondholtlers.
\2.
"Unpai.l Principal Amoqnt" slull mean the outsranding part oI rhe
(t ln this De€d, unle$ the context or meaning th€reol othetriserequnes:Te.fts defined in this Deed by leference to any othe.agre€mcnl document or instrument shall iave dre meanjngsassiSncd to them in such Deed, document o.insuuxrnq
A reterencc to a docume.t o. any other ASicement is a ref-Erencc10 that clocument or other Agreement as may be dn,crocq?replaced, novated o.supplemented,
(i)
(iit A lef@nce to 'knowledge, of rhe Isud shall rean the a.ruatknowledge of dy di€ror or exetutive office of the tosuer after
(iv) A reference to o "dendmm( in lu<16 a supp,flmr,modifi€tion, novatiorr repl4ment or reectne.t and"@nded" js ro be .oNrrued aftordingly,
(v) A reference to "authorisation, d ,,clearance,, includg anauthonsatiolr coroent, cleararce, approval, pembsioareEolution? licence, exemptior! liting and regish.ationj
A reference to "cont!ol?' includes rhe pqer to diret rhemanagdent and policie of m entity, wherher rhrough theoMeship of voring capital, by contracr or otheNis;
(vii) UnlesE the .ontdt otheMi* requircs, the singutd inctuats rheplual and vice ve6a;
('i)
(i')
(viii) the wolds 'hereo(, 'herein , dd 'hereto, dd words of simndimpdt when 6ed with ref@n e io a specifi. serion/Cla@/Alticle in, or Scheduie to, this Ded shall refer to suchsetion/Claue/tuticie nr or Schedule ro, this Dee4 and whenued otheMise thd in comection wfth speific Sectiore orS.heduler shall refer to the Deed as a wholej
A ref@nce to a Clauae/ Setior! Article or S.hedule io, unlesindi.ated b the conhary/ a leference 10 a cla@, secuorL dricleor schedule to this Deed,
Referdcs to this Deed sball be conshued s ref@ces also toany sepdate or independenr sripllarion or aSreement contained
(rii) The wods "other", "o! otheMise" and "whatsoevef, shall norbe.orotrued ejusdem generis or be combued 6 any Iimitationupon the generality of dy lleceding words or tuatreEsp€cif ically ref ened to,
HeadinSs and the u5e of bold rTperace shall be i8nored in its
(it
i;iu*)w
(riv) Releicnces to a person shall include comlanies and bodicscorporak dnd also include such person s su..esso6 andpermitt€d assignees or hansfcrees,
(xv) AU relercnces to Agrenrents, ddloents or orhc. insr.umentsindud€ Gubjed to all relevant approvats) a referen e to tharaSrc€tuents, docum€nr or insrrumcnt as amendcd?supplem€nted, slbstituted, novated or assiSned from tnne to
(xvi) words nnporting a parricular Scndef nr.lu.rc , t, senucrs,
(xvii) Relei€nccs to the i€ns /r€pa)," or "rcpaym€nf, shatl inctud€''r€demption" and vi.c versa and repaid, repayable, ie!.yment,redeem.d, .ede€mable and redemprion shau be conskued
(xviii) Rcferences ro "Fartr,/ shall mean a parq to this Deed andretcrcnces to "Parties" shall be consrrucd accordinSty;
(tiii) Relercnces to rhe word "in.hdes,, or ,,inclu.ling, are to bcconstrue.l withour limitation,
(xri) words.nd abbreviations which have, wcll known ie.hnical ortrade/.odftercial meaningsa.€ used in the Deed ina..ordancewith su.h meanings;
(xix) References to any Iaw shall in.tude any constiturioL srarutc,law, rule, rcgulation, ordinance judSenent,authorisation? o. a.y published di.e.tive, guideline,.equnement !. gov€rm€nral lestriction having the lorce of taw,or any determination by, or inte.prerarion oI an,' oi thelorcgoing by, any jldicial aurhoritt, whether nr eitet as oI thedatc of this Deed or therealr€r and ca.h as anendcd tuom time
(xx) Intc.est payable on the BoDds will be catculated on the basis 01
..tual numb€i of days elapsed in a year of 365 (thee hundredsirty five) days in a nornat yc.r and 366 (rhree hundre.t andsi*y six) days in a lcap y€ar (adlarlactuat);
(rrii) All reler€nces in these prescntsshall b€ dccmed also ro rcl€r to
to any provision oI any srarlte
'"':141 :.
€nactmcnt ther€ol or anl sratutory rule, order or regularionnade therelndei or undcr such re-enactmenr.
2.
2.\.
APPOINTMENT OF TRUSTEE AND D€CLARATION O! TRUST
Ar thc request of the Banl<, IDBI T.usteeship Service Ltd. 0ISL) hasagreed to act as thc T.uste€ loi th€ BondhotdeN in respect oI $e
2.2. The lssuer hercby appoinrs the iDBI ]ruste€ship Services Lnnited astrust.. Io. the Bondholders .n<1 th€ T.ustee hereby acc€pts suchappointment and pursuanr rhereto the Issue. hercby sentcs in trusrwith the Trustee a sum of Rs. 1,000/, (Rupees One Thousand only) Iorthe benefit oI the Bondholders. The Ttustee has a.ccpted the aboveamount of Rs. r,000/, (Rupecs one Thorsand onty) in hust decrar€dand, subjed ro the tens and .onditions in this Deed, agreed to ad astrustee lor th. benefit of rhe Bondhol.tcrs and rheir successors andassigns (the tfust dectarert hcreinafr€r icfe.red to as the ,,SBI
Additional Tierl Bond Trusr") and in such kusr.apacity, rheTrusteagrees and js authoriscd:(a) to clecute and dcliv€r the Deed, alt othcr TraEacrion
Doclments to which it is a party and alt orhcr docum€nrs,aSrccments an.1 instruments contemplated by this D€€d or thcother do.umentswhich are to be erecuted and delivered by theTrlstee or as the Ttustee slDlt dcem advisable and in the bestnrhiests of the Bondholders;
to tal<e whatcvcr a.tion as shall be requkcd to be raken by theTrustee by the tems and provisions of the TransactionI)ocuments, and subjecr torhctehsand provisions of this Deedor any other Transaction Docunenrr ro excrcise its riShrs andperfonn its duties and obligatioB under each of rhe ucunenc,agreements and instruments referred to in thisclause;and
subj€ct to rhc terns and provisioB of ihis Deed and ihe otherTransaction Documents, to takc such orher action h comectionwith the IoreSoing as the Majority Bondholders fray lrom rlmc
G)
3. DESCNIr'IION O! BONDS
Fo. the puryose ol auSmentinS Additional Tier 1 capital, and overall.apital of the Banl, lor srrengrhening irs .apital adequacy & fo.cnhancing its long-term rcsources at the requesr oI th€ Bank, thebanks/oth* body corporat€s whose nancs and addresses are set ourin Schedule I hereto and/or then respe.tivc transfefees (hereinafterrelefied to as thc Bondholders', which erpression shall unlessexcluded or repugnant to the.ontext or meaning rhereof include anyone o. more oi them or their rcspcctive su(€$o6 anl a$ignt haveaSre€d to subsciibe to the Banl's non convcrtible, perpetualsubordinate.i, uns€.lrcd Basel III complianr Additional 'fier 1 Bonds inthe nature oldebentuics having face value oI Rs 10 Llkhs (Rupees TenLarhs only) each at par aggicgating Rs. 2500 dores (Rupees Two'Ihousand live hundr€.] dor€s only) (hcrcinafter refened to as th€"Bonds") to the naximun €xr€nt set out against their respective namesin S.hcdulc I hcrcto on the r€rms and conditions contained in ttrelnformation Mcmorandum issued by theBank.
3.2.1. All tsonds constituted and issued fo. the tim€ being in dcmatforo.ndprnately placed ilith th€ Bondholders for.ash at p.i as spccilicd inthc Information Menrorandum are non-convertible, perpetual,suboldinatcd, lnsecured Basel III compliant Additional Tier 1Bonds inthe nature of debentufes having fac€ value oi Rs.10 Lakh ea.h,lor ana88rc8atc Piincipal Amount of Rs.2,500 oores (Rupees Two ThousandFive hrn.rred croics onrv).
3.2 2. The cbnns o1 the Bordholdes in the Bonds (pu6uant to and subjed tothc tcrms oI thc lnfo.nation M€moran.lun), shall rank pari passu
rmongst thc Add ionalTier 1 Bondholders withour anl pr€leren e orp.io.ity wh.tsocver on account of date ol issue or allotmenr, or
3r.
It is .larified rhat rhc Bonds are uns€cufed in mture and the Issuershall nor.reate any.hargc, lien ol encunbftnce or any asets and/orother proleities (whcthcr eristing or future) of the hsuer and/or itsAffiliat.s as sccuriry for the Bonds and/or tne outstanding anounts
3.23. Th€ terms of the Bonds sp€cilied in the Dirlosure Document as,tssueDetails'(herein refen€d as rh€ "Termsofrhe Bonds")shal b€ bindin8on th. Issuer, rhe Bondhold€F an.l an pesons.laiminS by, thougn oiunder any or them.In the ev.ntol any coMict betwe€n this Deed andthe T€rN of thc Bondr rhe ftrns oi the Bonds shall prevait. Ir tsher€by darilied that in .ase this Deed provides for any addirionall€nns which are not prescnt nr the Disclosure Doclmcnt, suchaddirional te.ns as provided in this Deed shal not be dccncdcontradictory to the Terms of the Bonds. The Tftstce shall b€ enrirl€dto.nforce the oblig.tions of the Issuc.lnder or pursuant ro the TermsoI thc lionds as if the samc were set out and contained in rhese prcsentswhi.h sh.llbe rcad andconst ued as one ddumenr.
Tire Bon.ts will be deeme.l to hav. bccn allorted ro rhe Bondholderson25.10.2016 (hcrcinaftef referr€.t to as the "Deened Date ofAllotmenf') as mcntioned in the Disclosure Docum€nt dated 24 t0-2016 All b€n€fits relating to rhe Bonds will bc avaitable ro theBon.lholdcrs from the De.mcd Date01Auotment.
4. INTEREST
4.1. I.terest on apoli.ation nronev
4.1.1. Subjed to the tefms and conditions stipulated in thc InformationMenora.duh, inrerest at E.39% per :mum i.e., the Coupon Rate (dsripuratcd in the rilormarion Mehormdm) Gubjd to deduction 01
in.omc taN undq the provisions of the lncome Td A.r, 1961, o! dy ofiersLltukry dodification or re €nacttunt ther€ot as applic.blc) will be paidto ihe applicdls on the application noney lor dre Bonds.
41.2 su.h interest shnll bc paid for the leriod siafting lrom dd incllding thedate ol r€aliztion of application money in Issucr's bd* a(ounr up to oneday pnor ro dre Deemcd Date ol Alobnenl Tnc into.st on appliotionmoney witl b€ comtutcd as pd Achral/Acrual day colnt convenrion. Suchinterest would be p.ld on all valid applicationr including the relunds.
3.3. AUotne.tofBonds
mon€) w'llbe Faid along \ilJLsulh€ntire subsriphon ahomr lDs b€en
/tr,-:. ,ti'?ir..;)
4.13.
applicant is alotred l€s*. nmber oI Bonds tlm applied Ior, the *cesdomt pai.l on application will be €fmded ro th. appticdr alonS withsdch intdsr on retunded money.
42. lntere.t oi Bonds
Prcvided tlnt not$ithsranding lnythn€ b the conhary conrain.\]hercinabove Bar* shall not b€ Iiable ro pay dy interet on the appticarionnonies liable to be refunded in c6e of invalid appli.atiors d appticatioreljable lo be rgL{ted.
4.1 4. -Ihe intcrsr ch€queG) / demmd dJaJr(s) for intdesr on apptication moneyalong with reftmd of aptlication money, il rny, shall be made by way ofchequ€(s)/demand drafr(s)/ cr€dit rhrough dn€d cicdit/NECS/RTGS/ NEFT mtrlDnisn in INR ro tne dcsignated A..ounr ofthe Appli.ant within 15 days Ircm the Deemed Dare ot Altoth€nt dd rlrercl.tive intqest wdantG), il ay, along h'ith rlE refund ordq(s), as rheo* nay be, will be dGpat hed by re8i5bered post ro th€ $lcl fi$tapplic.nt, at th€ sole risk of the appli.at
4 2.1. subject to 'coupon Disderion' and/or 'Lo$ Absoibency' (as the casemay be) and such conditions as mention€d in thc InfomarionMenora.dunr the Bonds shall cdy at a fixed hrr of 8.39% p* drum (i.e.,
dre coupon Rate) ard payablc on the coupon Paymcnt Dat6 (as
stipulated in thc Infomtion Menroonduh) lalting at amlrl jntendsftom the Deemed Date of Allohnenr.
1.2.2. TIc iirst Coupon Payment Date shalt be on 2110 2017 and CouponPaymcnt will be mde untll Clll Option is der.i*d, interest on Bonds witlea* on Cdl option Dare (if ererci*d) in all evenrs.
42.3. Inierest payable on the fist Coupon laymcnt Date shalt b€ .alculatcd torthe poio.t commcncing fron, ad induding the D@med Ddtc ofAllorrn€nt up ro, but exdudnrg $e .e\t Coupon Paymenr Dare, lnterestpayabl€ on dre Subkquent Coupon Payment Dares shall be calcutaredhon1 md nrduding on€ Coupon laynent Date to tne n€xr ColponPalDmr Dare /Call Optior Dare (if dcrcised), on rhe ouErandingtlincipal Amount of Bonds til L\e C?ll Oprion Date (if exercised), to rheBondholders rvhose name apped in rhe list of B€neliciat OMe6 Sivcn byth€ Depository to the BaI& d 01 rhe r€lev,nt R{ord Date.
4.24. Intdst on Bonds will ceaF ftom the Calt Option Dare (if d€rised) in atevenrs. The paymmt of interest w r be madc by way of chequeG)/ inrdNtwdd(s) /demd doft(s)/ .rcdit to the deigmted accomt of rheBondholdeE through dndt ftdn/ NECS/ RTGS/ NEFI m{hadsn inINR.
4 2.5. II ey Coupon Paymenr Date falts on a day which is nor a Blsin* Day,drcn the paymcnt ol interest wilt b€ made on the nqt day i.e. a BlsinessDay h,ith nrterst lor the inrerv€ning p.riod wnhour any liabiliry forpayment ol inter€st on inte.est mount
4 2.6 'l he int€rest Io. ea.h oI the interust p€riods shal be calculate.l on Actuat/Actual bast (as per slBI Cir.uld no ctMMD/Dr/18/Zlt3 dated 29rhoctober 2013) on the oursranding Prin.ilal Afromt of the Bonds ar r]]eCoupon Rate rounded ofl ro the neest Rlpce.
Dedlction of Td.r Source
Td as applicable from tine ro rine uder the Incone T& Act, 1961, orary othcr statutory modificarion or r*nacrrnent thersl wil be dcductedat solrce out ol intcrest payable on Donds for which a c€riilicate witl beissled by th€ tsank,. Iniercst payable on rhe outslanding plincipalAmount oI the Bonds on th€ Coupon Palnenr Dats untit rhc Call Optionis erd.ised by rhc Banh slDll be h.eat€d 6 "tntlr.est on Se.urities,, as perIncome Tax Ruls. Bondholdds desirous ol claiming exurpoon romd,pduction oI income rat at sore on rhc intdest pay.ble on Bonds sholldsubmi rd aemption ceirifi.atel d@ument? urd€r sc<tion 198 ot thclncome Td A.t, 1%1, if dt with ih€ RegGtr.rg or to such orhd pesonG)at such othq addf$ (es) as tne rssuer my specit, liom time ro tircdftugh slitable comunjcatior! at Ieast 45 days betore rhe paymcntb€rning due It is hcreby .larified that dre Bondholders stDll bersporeiblc for paymenr oI their resp(tive taxes (payable uder appticabte
LOSS ABSORBENCY
Perpetual Debr lnstrqments
5,
5.1.
Tnc Bonds (induding all daims, .temands on rhe Bonds and intei€stthereo4 whether acoue.t or conting€nt are issued subject to lossabsorben y featur€s applicabl€ lor non-equ ] capirat instiumenrsisslcd in terms ol Basel lll Cuid€lin€s inclu.tinS incompiiancc with theCriteria stipulated in Amex 4 rhereof Ior inclusion ot perpetual Debrrnshuments inA.tdirionat Ti€r l Capital and are subj€.r to certain lossabsorbency fcatures as describ€d hcrein and requi.ed to ctuure rossabsoibency of ,\ddirional Tie. 1 insrruments ar pre-speciticd TrigSerltvcl and at drc Ponrt of Non Viabilfty as providcd Io. in Annex t6 oflhe atorcsaid cn.ula.. Ac.ordingly, rhe Bon.js and an), .laims ordcman.ls ol .ny Bondhold€r or any other pcrson .laiming for or onbehalf ol or thtuugh such Bondholdcr, against the Bank, may bewrttcn oIt in whole or nr p.rt, upon rhc occurrencc oI the lollowing
(i) il thc Common Equit! Tier I capitat (herein.fter retede.lto as "C!TI") .f th€ Bank falts b€lo$, 5.59i of RiskWeighted Assets (IiWA) befor.3lst March,2019, and
(i, if CET1 falls below 6.125% oIRWA on or aJter 31st March2079.
.cduce fh€ cl.ln of ihe Bnnd (up fo fil) in lrq!Ldation;
G) Eadr oi thelollowing is a Prestccified Tri6ge. points inrespcctof the Ronds lor pri ncipat lossabsorption:
On the occurrcnce ol each of rhe rrigger lcvels ref€rcd tohercinabove .allcd the "Pre-Spccified TrigScr Lewel,. princitalloss absorytion willbe made ihrough €ither (i) conv€Fion oI theBonds to common equity sh.rc calital oI thc Bank; or (it awritedoM mech.nisn which allocar€s loss€s to the bonos.
Awrite offoi th€ Bonds hay nave rhc follownrg elfccts:
No write .lown oI any Conmon Equity Tier I capital shall b€rcquired b€Iore a writedown of the Bonds. The Bank shall havefull discr€tion to deternine rhe aftount ot the Bunos to Dewritten down slbject ro the amount or write_down notcx.eeding the amount whi.h woutd bc .€guired to brinS thecETl ratio k 8% oI RWAS. lurrher, rhe aSgre8ate amount ro bewrittcn down lor all A'11 tretruments on bieachinS rhe higSeiletel shall be at leasr rhe ahounr needed to inh€.tiau}' rerurnthe bank's CtTl ratio ro thc t.igger lcvel (i.e. CET trom wite-.totun generated undcr applic.ble In.jian A.counring Statulaidsor RRI Instructions mt of conringent liabititie, porcntial tarliabiljties €r.., if any) or if this is not !ossiblc the full principaiAmount ol dre Bonds.
When thc Bank bica.hes a Prc Spe.ified T.igger Lcvet and rhccquity is rcplenishcd throuSh u,rite-down, such rcpt€nisnedafrounr ol cquity will be excludcd from rhe total €qlity of rheDank lor the !u.!os€ oldetermining the pioportion of carningsto be paid out as dividcnd in rqns of rulcs laid uown rorm.intaininS capital conserratior bufter. However, oncc theB.nl nas attain€d rotal Comnon Equity ratio of 8% withourcolnting the .cll€nished equiry .apitat thai point onwarus, rneBank may include the ieplenishcd equiry capital ro. atl
The Ban! shall have the discretion to wrfte down the Bondsftultiple dnes in casc the Bank hits Prespccifi€d Triggef Lev€lsubsequent to the first writ€-down.
(l
(8l The Bonds which have be€n writren down can be
bartially or lull) at th€ absolute di{retion of rhcsubject to compliance wirh RBI insrructionslennision, cons€nr ir any).
< ) | obs 4brorplion it the roint otNon-Virbitiry ( |-ONV,
(a) A writc off of rhc Bonrts at the |ONV may have th€ foltowing
re.luce ihc claim of rhc Bord (up to nil) in liquidarion,
(i, o bp re-pdrJ ol hP BonJ wh r ! dtt F
(iii) partially orlully reducc coupon p.yments on the Bond.
PONV trigSer cvent sirall bc as d€6red in the aJoresai.l Basel IIIGuidclines and shall be der€rmined L,y ttre RBL
RRI may in its imninence alter or modill rhe pONV triggerwhethcr generall)' o.nrrelarion to the Bank o.otheMisc. tn anycas€ it should be noted tnat IoltowinS wriring oU of the sondsand claims and dennnds as nored above n€ithcr th€ Bank, no.any otxer peron on rhe Ba*'s bchall shalt bc required tocompensate or provide any reliet u,hether absolut€ly or.ontingently, to the Bon.tholder or any othcr pe6on clnining toro. on behall oI or ttuough such Bondholdc. and all ctaids andtlcdands oI slch persons, whether unde. law, .onrdcr orequity/ shall stand permn€ntly !n.l irrevocably exringuished
Unless othcrsise specilicd in tn€ l.Jormation Menoranduft,the w.ite-ofi of any common equity or any other regularorycapital (as undcrstood nr terms oI the aforesaid circuiar or any',plI"T.r r/.h ndr.eI | . c.n wtpt ,J.cnilrorr ,.,p,..joi subordnrab, an.l wh€th€r a Tier I capiral or otherwis€ sh.llnot be requned belore the write otf of any oI the Bonds andrh.re is no riShr available ro tne Bondhotdcrs o. anl othcrperson claimnr8 fo. or on behali of of throu8h slch londhotderto dcmandor seckthatany otherregularorv c.pital be suujc.r (,prior or snnult neous write-off or thar tne h.eatment otlere.t roholders of such other regulatory capital Lre also offered ro the
6. COUPON DISCREIION
The Banl< shall ir.ve full discrerion at all rimes ro .ancet rhe Coupon€ith$ in part or full. On ca.cellation of paymcnt of Couporr thesepaytuents slnll be extinguished and the Bank shau hav€ no obligationto frake any distribution/Coupon PaymeDr in cash or kind.
oNv I
il,,i!1;-", , '$k/ f-ij,
6.2. The Bonds do not carry a 'dividend pusher, fcature i.e. if the Bant<nakes ary paynent (coulonldividend) on any oth€r.apitalitutrun€nt of share, rhe Bant< shalt not be obligar€d to nake CouponPayment on the Bonds;
65.
68.
6.9.
.. n.elr)l.on o.\ oltor.ld, o. b. .n +.i ordpt,ul
B.nl shall havc lull ac.€$ to canc€llcd Coupon ro meet obligations as
Canc€llation of Coupon shall nor impose anl ieshictions on the Bankexcept in relation to disrributions ro conmonstakcholoers.
6.6. Coupons, unlcss cancellcd by rhe Bank, slnlt be paid olt oIdistributable itcns.In rhiscontext, Coupon may be paid out ol curicnty€a. profits. Howcver, ilcurr.nt tear protits arc not s!fticient, Couponnay bc paid subjcct toavailabiltt olsuffi.j.ntrevelue rescrves (nosewhich arc not created fo. specific purpos€s by the Dank) and / o..redilbalance in p.ofir and loss accounr, ilany.
67 However, paymenr of Coupons on the Bon.is from rhe revcnueresewes is sulrje.t ro the Bank me€tin8 minimum regulatoryr€guncmcnts lor cElr, Tier l and Totatcapital ratios (as stipuiatcd inth€ Basel III Cuidelines and/or oth€r relevant Suidelines issued by rheRBI from time to time) .t atl times and subjed io rhc lequi.ements ot.apital buffe. lrameworks (i.e. .apitat corEe.vation bufier,.ounteicyctical .apiral buffcr and Domcatic Systemicauy imporrant
Coupon on the Bonds shall not b€ clmulativ€. It Coupon is canceltedor not paid or paid at a iatc lesser rhan the Coupon Rate, suctr unpaidand/ or.ancelled coupon wirr nor be p.id in lurure years.
All instances of non-payment oI Coupon shall be norified by rhe Ban!to rhe Chicf Cenerat Managers,in-Chargc ot Deparrment of BantinSRegulation and Departncnt of Banking Supervisio! of the ResereBank of lndia, Mumbai,
RED!MPTION
7.1. Tne Bonds are perperual in nature and hence ire.lecmabl€, save anderceptupon the exer.ise ofaCaUOption, ifany widr rhe prior writr€napproval oI RBI (Deparrmcnt of Banking R€gutarion and in ac.ordancewith thc terms oI the InJorm.tion Memoran<lun, and !rcvided iuitherlhrt th€ Bond(s) has not b€ written ofi on ac.ount of ple-spe.ifiedTiigger lf,vel & PONV and/or an)r odrer event on a..ounr of RBIGuidclines/lnJoroation Mcmorandum
72.
7).
//*7*. ' . nw' \v
No Re.t€mption Date is sp€cified for th€ Bondg as they are issue.l aspc.petual dcbt instrumcnts lor inclusion in thc Tief I Capit,l oI the
Th€ erer.isc oI Call Option is at rhe absolure discretion of rhe Ranl< andno Bondholder nas any right reqlirc the Bank to exercis€ the Ca[Option. Thc bank may cxercise rhe C.ll Option on theBonri:(a) onlyalterthe Bond has run for at Ieasr five yea.s;(b) the 8.nk musr r(cive prior applovat of RBr (Department of
Ba nrg Rcgulation);
7.4. Th€ Bank will not ercrcis€ a.all unlc$ (a) rhe Bank reptac€s thc Bondswith capital of rhe same or berrer quality and rhc reptacement is .loneat conditions $hich rrc sustainabtc for the incomc capacity of rhe Bankoi (b) thc riallk demonsrrates thar fts capital positjon is well above themi mum capital ieguiicments after thc Call O?tion is exercise.i.
7.5. Thc use of tax evenr and rcgutatory cvcnt calls may be pernttedsubjtrt ro ihc fulfilment of the lolowinS:(a) rhe Banl musi ieeive prior aplroval or RBI (Deparrment of
BankinS Rcguration);(b) The B.nk rcplaces the Bonds with.apital of thc same or better
quality and the rcplac€nent is done ar .onditions which aresustainablelor the incomecapa.ity oi the Bank, and
(.) The Bank demonsrrates trat irs .apital posirion is well above theminimum capirai .equirem€nts aJter rhe Call Option is
RBI may pc.mit the B.nk to exer.isc the cali onty if the RBI isconvinced that the Bank was not in a position to anticipate th€se eventsat the time of issuance of PDIS.
8. RIDEMI'IION AMOUNT
8.1 h case ofexercise of the CaU Oprion, at rhe disc.etion oI th€ rank.ndwith the pior wiitto approval ot RBI (Deparhnent ot BankingRcgllation), the Bonds shalt bc .€deemcd at par along Lith Inrer€sracd!.d Gubje.r to 'Coupon Dis.retion.) thercon til one day piior tothe CaliOption Date subjec o adjustnents and wit€-olfon ac.ounr of'Coupon Discretion', ,Loss Absorbency, and ,Other Events, (asmenhoned in the Inlornarion Memoiandum), and in such .as€s,payment on the Bonds shall be hade to those Bondholders whos€namcs appeai as E€nelicial ownc6 (in casc oI joint hotd€E, ro thepeison whose natue srands ti6t) as pcr the IGr ro be tunished bI theDepositori.s in rcspect of thc Bonds and on ttre ,RcSister ofBondholdeis' of rhe Bant, ar the close of the busincss hours on rheRc.ord Date to b€ Iired bt, th€ Ban( for rhis purpose in the ,Regisre. oI
82. AIt.r redemption olall amounts d!€ on th€ Bonds (as p€r rhc tenro ofthe lnfoimadon Mcnrorandln), rhe Bonds shan altomaticauy stand.ancellcd. No sufcnd€r ot Bond cerriftah, if any, sha bereqlncd forthis pdrpose and rhc Bant<'s liabilitv ro rtrc Bondholdc.s, inclu.ting forparmcnt ol Coupon or othcrs,is€ shalt stand €tringuished nom th€Call Option Datc in all evcnts and on rhc Dank paying th€ redenttionamount to the Bondholle6, Other rh.n the amornts paFbte lponexercisc ol Call Option nr t€rms oI the Info.mation Mcmoran.tum, theBank shall nor be liable to pay any orhei ahounrs (jnctudnrg anyCoupon, lncome or compcmarion of any kind) from the Ca[ OptionDate ol the Bonds.
9.1. Intcrcst Gubj€cr to'Coupon Discr€tion,) ior eacn ofthc inter€stperiodsshall b€ comprtcclas per Actual/ A.tuatday counrconversion on th€Princilal Amount of the Bo.ds then oursranding at the Coupon Rateroundcd oII ro thc near€struPce.
9.2. interest Peiod means each lcriod begnDing on (and indudinS) thcD€emcd Date of Allotment oi any Coupon payment Date ard endinSon (b!t exdudind the n€xr Colpon payment Dat€/ CaltOption Dare.
9, COMPUTATION OF INTEREST AND OTHEIT CHARCES
j"(,F:tfu;/ " a /)
\*-v-"/
t0. E\EnOSE Ot CAt I OrflON 4\ D OTHEn Or.l |ONS
10.1. Notwithstanding anyrhing to rhe cont ary sripular€d her€nr, rhe Bankmay, at its sole discr€tion brt subj€d alw.ys to the ,ConditioE lorExercise of Call Option' (as specilied in the InJormationMemorandud), €le.t to exercise a calt option on the Bonds (,CallOption") et€(isabl€ by thc Bank on 25rh October, 2021, being the 5Gannive.sary ofrhe l)c€med D.tc oI AUohnent, (the,,tssuer CaU Dare,,)or any Coupon Pavoent Date rhcreaft€r, subjcd to rhe conditionsmerhon.d below and in the I ormation Memorandun. lurthei, theBankshal nalc the ri8hfto cxcrciseaTax Call and/or R.gutatory CaIsubjed to conditions (b) an.l (.) hention€d bclow and subject to theterm m€ntioned in the InJonnarion Memor.nduft The Cal may beere..ised subjed to all tle conditions mentioned below:
k)
Call Option may be exercised only alter a minimuh period oftive ycars iron the Demed Dare of Attorment
To exercisc a calt optior thc Rank shall r.qlire prior approval of
its capiral position is well.equi!€ments afte. the calt
11,
B.rnl ihal not e\c.(isc a call unlcis
o The Bo n i' I. o.J."d \rt\ crpiJ. or 'r'- ..,n.,. oprrFr
q rdliry nad hp r"pld.--r-.t of llu. .nl " F dorp dlconditions whi.h a.€ sustainablc fo. rhe income capacity
(ii) Tne Bank dehonstrar€s thatabove thc frinimum capit loption is cre.cis€d.
DUE DATE OI PAYMENT
The rntercst (subjed ro,coupon DGcrerion, and,Los Absorbcncy,) onth€ Bonds will be paid on 25th 01 ocbber every vear iill (,,couponPayment Date") the Call Option Dat€ (iI exerised) If ihe date oiCoupon Payment Date do.s not lall on a Busiress Day, then ttresuccccding Busnres Day will be coGidere.l Ior such paymenr ofInterest with Int€resr for such addirion.t peiod. Such additionat
15.
14.
13.
72.
inr€restwill be d€ducted from the Interest payabtc on rhe nexr Colpon
RIGHT TO ACCELERATE PAYMENTS
The Bondholders shall hale no put option in respe* of rhe Bonds j.e.
they shall have no iight to accelcrate the repayh€nt oI futuresch€duled payh€rts (Colpon or Prin.ip,l Amounr).
RESTRICTION ON PRTFENINTI4L PA!MENTS
Subje.t to the te.ms of thc InJormarion Memorandum, the Bank shitlPay an.t discharg€ all its liabiliti€s ro rhe Bondhold€rs under dis D€cdwithout prelcrenc€ or priority to one orer the other.
PIACE AND MODE OF PAYMENT DY THE BANK
I'.y(ent oI Intcrcst and/or repayment oI Principal Amolnt ot theBonds shall be made by say ol cleque(s)/interest/ redemptionwairan(s)/ .]ema.d draf(s)/ crcdit tlrough dircd .redit/NECS/RTCS/ NIFI mcchanism.
MODE OFTRANSFER OT BONDS
Tre Bon.ts may be haEretred subjed to and irr a<ordmce wnh rhe tul.s/procedues as pr$cnbed Lry thc NSDL/ Cml/Dcpcitory Parri.ipant oithe hmleror/trutuferee and any other appli.ablc laws m.l rules noriiiedin r6pd rhereof. The normal prcedure followed for hdf€r 01 s@riticsheld in dematdialized form shall be louowed tor h.mtd ot rhe Bonds heldnr €hckonic foh. lhe sller should give d€livdy ituhuctioN conr.iningd€tails oI thc buy€1s DP account to his depcitory pdticipant. Thehasiere(s) should oBue that the b.mler lormalities de complered priorto tne Rdord Date. In dre ab*nce oi &e sam., hte@st wit be paid/&demption will be hade to tne pcrso4 whose lrmc apled in rhe Koidsof th€ Depcitory. ln such cas, daitu, if my, by the trarsfdee(s) woutdn*d to be senlcd with the haEfero(t dd noL wirh the BaIk.
Threler ol Bonds to and from NRls/ OCBS, in ce thev seek ro holddd/or karofcr the Bonris and ee eligibl€ ro do s, wilt Lt governed bv thethen prev.iljng guid€lnr6 of RBl.
IQUTTTES16. BONDS FRIE IROM
18,
79,
The BondholdeF will b€ €nrirlcd to tneir Bonds lr€e liom cquities orcross .laifts by the Bank aSainsr rhe oiSinal or any intermcdiate
BONDHO!DERS NOT ENTITLED TO SHAREIIOLDENS' RIGHTS
Th€ tsonds shall not conJer lpon the Bondholders any rights orprivilegcs othei than su.h iigtrts .vailabi€ to rhe Bondholders underappli.ablc hws Tn€ &ndholders will not be €ntftlcd to any of rherights an.l privileges available to th€ shaieholders of rhe Bank. TheBond(s) shall not.onlef upon the Bondholdcrs thc riShr ro.cceivenotice ot o. to be prcsent or arhntl and/or vore in person or by pror]rat rhe Scneral mee rSs ol the Bank or b rec€ive ..nuat r€porr o! rh.
BONDS IN D[MATERIALISID FORM
18.1. lhe Bar* shall issue Bon.ts in.lemateriatised fo.m in accordance withapplicable Lalrs, and subjcd to the comtletion oI alt statutorytormaliti€s within tnne lrame prescribed in dre rclcvantregulations/Act/tul€s etc, rhe initiat credit akin to a ,ktter otAllonnenl in the beneficiary lccount of the invcstorwouldb! reptacedwith the number orllonds alloncd
182. The Bonds shall Lre issued in el€dronic (dehateriatized) forh and willbe Sovcrned as per thc provisions oi rhe Deposirory Act, 1996,S{uritics and ExcharSc Board ollndia (Dcpositories an.l participanrs)
ReSulations, 1996, rulcs notified by NSDL/ CDSL/ DepositoryParti.ipant ircm time to time and othcr applicabl€ Laws and rulesnotilicd in resPect rhc.eof.
LISTING OFBONDS
'lhc Bonds arel will be lcr€d(WDM) of the Natiotul stock
ARTICLES OIDEED
on Wholesale Debt Market SegmcntErchang-" 01 India Lihited and BsE
2Q
'lhis document shall b€ .cad in conjunction with thc InformationMemor.ndumand it is spe.ifically agreed berwcen theTrusrecand theBank that in cas€ ofany repugnancy, inconsistency or whei€ rherc is aconflict berween the condftions as are sripulated in the InJornarionMemorandum and rhis D€ed, rhc provisions as conrained in theIr ormation Memorandun shati prev.iland override theprovisions ofthis Decd to such ext€nt ofinconsistency.
2T. S€NIORITY OF CLAIMS
Tle,'" r. ul .FB. JFold"r\In fcornd5shd-
(")
(b)
Be supe.ior to the claims of invesrors in eqrftt shares andPery€tual non cumulative p.eference sh..cs issued by thc Banl<,
G)
Be slbordinated to thc claims oI depositorr Scneral credirorsan.l suboldinal€d.tcbt of fie Bank other than any subordinateddebt gu.lifying as Additional Tier 1 Capitat (as detined in the
n.ither be s{rrcd nor covere.l by a guaranrcc of the Issu€ro. its relat€d cntity or othe. aranSement rhat legaUy orcconomically enhances the seniority 01 rhe claim vis -d-vis
Unless the terms of any slbscquent nsuance oIbon.ts/dcbentures bt rhe Bank sp€cifi€s that the ctains or sucnsubsequentbond holders are senio.or subordinate to rtre BoMsissued un.ter this Disclosurc Docun€nt or unless rhe RBIspeciiies othe.wise in its guidelin€e the ctaims or incBondholders shall be pari Fssu with claims of holders of suchsubseqlent deb€nrures/bond issuances of the BanI;
(e) rank pari pa$u withour prefe.cnce
Notwithstandnrg anyrhing to the coniraiyor rne Bondhotders shau be subje.r toDiscretioo Loss Abso.bency and Orherlnforhation M€morandum.
BONDS REDEMPTION RESERVE
stiPulated hercin, the claimthe provlsions oI CouponEv€nts mcntioned in this
E
22,
Thc Ranl shall utilise the non€Is rcceived towards subscriprion ol rheBon.ts lor the purposc mentioned in the lnlornarion Menroran.junTh€ Bonds are issu€d lol the puiposc ofaugmentinS thc Tier l Capitalof the Bank undei Bas.l lll Capiral Re8llations as laid olt by RBI andthe pro.ecds thercofshall bc utilized loi thc rcgular busincss activitiesof th€ Bank, but not lor fi.rn.ing anl paiti.ular proj€cr.
23.2. AffirmativeCovenants
21.1 Utirisation of rroceeds ofthe Bonds
The Bank hcrcby cov€nants with the Trlsrcc subj*t ro applicabteLa$s, the Ba.! will at all times during rhe curency of this Deed:
23 3. Notice of Winding Up or Orh€r Legal Process
The tank does not inrcnd b .reare and s,ould not crcate anyiedc(phon reserve/ as the Bonds are in rhc nature of pe.lerualsuboidinated debi instrumenrs. Fdrrhe. as per rh. Companies (SharcCapital and D.bentures) Rutes, 2014, no Debentlre RedemptionItes$ve is requir.d lof .lebent!.es issue.t by Banking Companieswhethcr by public issuc or bI priv. rc plac€ment
23. BANK'S COVENANTS
Prompdl i.Jo.m iheTilstee ifit hasnoticcofany orderofwjnding upby dre Ccntral Covernm.nt.
23.1. CoslsandEapenses
TheBank shall reinrbuBe allsums pa by th€ Bondholdc6 !nd/ or theliustee (in relation to the €xpenscs incurr€d by rhc l.ustee tos,ardsprotection of Bondhoklers' intercsts under this Deed inclurlinShaveling and orhcr allosances and such tax€e duries, costs, chargesand experoes in connection wnh or relating thereto) within 30 daysirom the dat€ oI notice oI demantl lrom rhe Bondholde.s and/or rheT.ustee, as dre case nay be. Howcvei, the Trusrec shall not beobligated to incur any.osts an.t erpctues in performance ol its.tuiiesunderthisDeed
215 Pay Stahp Duty
Pay all su.h stamp duty (in.luding any additionai stamp duty), otherdutie9 taxer clurgcs an.l pemlti€s, if and when the Bank may bcrequncd to pay accordinS to the laws lor the rime being in lorce in theState nr relarion to the Bon.ts and rhc T.ansaction Dduments, and inthe cvent ol rhe Bank failing to pay slch stamp dury, other dltiettaxesand penalties asaforcsaid, the Trusr€€ will be at liberty (butshallnol be bound) to pay |ne samc hd the Banl< shall rcimburse the saDre
to th€ Trustec on demdd, within 10 (en) Busine$ Days oi such
23.6. lurnish lnfornation to Trusree
23.6.1.cive to thc rrustee or irs nomincc(s) such inJormrion/copies ofrcl€vant ertracts as hay be requir€d ro bcfunished by rhe Bant<!ndc.theSEBI (Debenturc Trustee) Regularions,I993, SEBI (tssue and Lisringoi Debt Securitics) Regulation, 2008, SEBI (I-istirg Obligations andDh.losure Requiremcnts) R€gulations, 2015 (and anen,.lm€nts rher€tolrom tim€ to tnn€) an.l oth€r SEEl/sraturorv icgllariong to the extent.PPlicablc to lhe Bank. lt i3 herebl.larified that th. T.ustec shall havethe riSht to inspect the regist$s of the Issuer and ro take .opics andextrads thcrcof (in accordance with applicable Laws).
23.6.2 In rhe peilornonce of the duries of thc l rustee, the Bank shall bear allcosts, charSes and experoes incidenbl to such examinarion and
23.6.3. Du ng the efiectiveness of this Deed, the Issuer sh.ll:(a) Manrrain the Register oI Bondholders with the R€gisrrar
(.urently, Datamatics liftn.ial Seni.cs l-td., at Plot No. B-5,
Part B, Cross lnnc MIDC,Marol Antheri (E), Mumbai,93);
Keep prop€r boaks oI a(ounr as requned under applicableLaws aDd keep thc said books ol account at its rcgistered olliceor, wner€ permiitcd by 1aw, at other placc o. places $,here thebooks of a.colnt and dftum€nts of a similar nature may be keprand the Isstrei will ensue that all entries in the sahe shalt arallreasonable times be open for inspe.tion of the Trustee;
Funish to rhe Trustcc such i odnation (including copies oI thereports, balan.e shccts, profit and Ioss a..ounts ctc.) as may bereasonably r€glircd by the T.usteej
(d) lnIo.n the Truste (if requhed under apltnable Lawt:
(i) prior ro dedaring or dishibuting dividendj
{ii) berole any change in nature and condu.r of its business,
(iii) oi ary changc in .omposition ot irs Board of Dircdors(whcn such change may 1..d to chanSc in control asd€fin€d in SEBI (Slbstanrial Acauisition of Shares andTakeov€6) R€gulations, 1997;
(0 Furnish to the Trustcc,.ontaininS the lollowinS
(t
0t
(iit
Comply with allguidelines/dn€dions issued by any regulatoryauthorit)' in rel.tion to rhe Issue,
on a quarterly basis/ quarterll r€port
the nah€s and addresses of the
due but unpai.land r€asons thereot
natlle ol grievances received tom the(a) re$ived by the Issuer, and (b)
Issucr and reasons fo. the same.
Promptly and erp€ditiously atr€nd ro and redress the grievan.€s, iIany, 01 the Bondholdcrs. The Ba.k flrrher underrakes thar it shallconsidcr the suggestions and directiotu that may be given in rhisreSard, l.om time io tim€, by fie Trustee and shau adrise the Trustec
Pcriodicatty of thc compliance.
23.8. Thc Rank hereby lurther agr€es and undertakce thar during thccurrency of this dccd it shall .bide by the guidehres/listingrequirehents if any, issu€d Irom time to rnn€ by the S€curiri€s andrrchange Boar.t of tndia (s!84/ Res*ve Bank of rndh (RBr)
23.9. Register of Bondholders
A Registe. of Bondholders shali be maintained with the Regisrrar atDatamati.s linancial SeNices Lttl., PIot No. B-5, part B, Cross Lane
MIDC, Marol An.theii (E), Mumbai 93 and su.h Registe. shall beclosed Iifi€cn (15) days p.ior to each Interest payment Date and
21.
rn case of <lGsoturion/barLkrupky/insonency/windinS up ofBondhold€r(s), rhe Bond shall be transnittable to the lcgalreprcsentadve(s) / successorG) or the liquidator/.s the case may be/ ina.cor.lance with theappli.abl€ provisions of taw on su.h te.ms as maybe deemed appropriar€ by rhc Rank.
The Issucr shall r€g!.st th€ D€posftory !iz, NSDL.nd CDSL topfovide a rirr of Bordhortl.r(s)/ Berefi.ial osncr(s) as a rre cnd 01
day, 1 (one) day p.ior to rhe start o1 the R€coid Date. A interesr and
lrincipal suns b(oming due and layabte in resp(t of the Bords wiubc paid to the reSistcred holder thereol fo. th€ time being o. in rhe caseol joinrhouere to the p€Bon whose n.me stdds Inst in rhe Registerol Bondholders, at such address or ro the credir of such account as isavailable with the Issuer on the relevanr R€cord Date.
MISCILLANEOUS
24.1. The Bank hcr.by conJirms that it has hkenall ncce$ary sleps ro m.kcappropriatc disclosuics (as r€quned undcr applicable Lawg jn theInfornation Menoiandum. Norwithstanding th€ aforesajd, theBondholdeF are b€lievcd:(a) to b! experienccd in invesring in .lcbt markets andarc able to
bea. the economic risk ol inv€sting in such nrsrrumcnts(ind! ding fte Bonds),
(b) ro have carefuny read and noted rhc contents ol rneInJornation Mchorandum an.l made their own indcpen<lentassessn€nr oI the he.it of the invcsrment nr Bondt
(c) to have consulted then own financial, l€8a1, tax and otherprolession.l advisoE as to the risks and investmenrconsderations arisnrg from investmenr nr rhc Bonds,and
(i) to havc made then own independ€nr evahation and ju.r8mcnrbelo.c haking nrv€stmcnt in theBonds.
24.2. Thelrustee ipso lacto'do nothave the obligationsol a borrowc. ofaprincipal .lebto. ora Suarantor as ro rhemonjes paid/inv€stcd byBondholde.s for sul,scription of the Bonds.
t(i#ti;
24.3 Prcvided however that norwithsranding anyrhing to the conh.ary.ontaine.l heren! rhe obligatioB srated in S*tion 23 h€reot an.l othercovcnants und€rrakcn by the Issuer h€reunde. and the InJoimationMemorandum shaU only be appticabte ro the Issuer to rhe extentsuch.ovenants are not baued and/or nor appticable to the B.n( unierdpplicdblF| ){.pav-.rin8,r-u,. pointo.,rnF.
25,
251. TheTrustee Dray, fron tjme ro tioe, orar any timc, alrer obtaininS rhe.onscnt oi the M.jo.ir) Bondhol.icrs, waive on sucn terms andcondnions as to them shall .l€cn expcdienr any brea.h by the Bank otany oi thc covcnanrs and provisions contained in this Dccd witholtpreju.ticc to the righrs oi rhe ,riustee nr .esp{r of any slbsequ€nr
25.2. Noh{ithstanding rhc aforesaid, where the Trusree detcrmin€s suchbicach to be of a iorml, ncgligible, minor or technical nature theTrusteemay, atany tin€, wirhout prejldice to the.ights of the Trustecm resp€d ol any subsequ€rt brcadr ttrercot wdve on sucn tchs andconditioE as itsnall dcem expedient any such breach try rhe Issu€r
26, EVENTOFDEFAULT
26.1 Anl non paym€nt principal on acco!.t ofRBI Guidelines (on Baset litcapital r.gulationt, inclu.ring adjusrdcnts/$ritc oli on account ofPONV, Loss Absorption at pre sp€ciiied Trigger Level, and such orhe.tcms spccilied in the Infohation Memorandum shau nor beconsi.l€rcd as an event oI dcfault.
26.2. lhe Bank shall Inve tuttdiscrction ar al times ro cancel Coulon €itherin part or f!ll. On.ancellation oi payment of Coupon, rhese parmentsshall be €atinguished and the Bant< shall have no obligarion to makeany dnhibutior/Coupon paym€nr in cash or kind. Canccllation ofCoupon shall not bc an event oI defautt. lurther, any non paymenrinte.€st on accounr of RBI Glidelnres (on Basel nl capital rcFtariorg,induding adjusimcnts/writc ofl on a.counr of ,coupon Discretion,,'Loss Absorption' and slch odr€r tcrm spdfied nr thc InJormarionMemo.andum shaU nor be considqed as an cvent of dcfautt.
l-"":;
26.3. O.cu.refte of any 01 the iouowing ev€nts shal be de€med to be .n
26.3.1. Delault in Perfo.mance of Covenanrs and Condihons
Delault has occurrcd in rhc perfornance ot any @terial covetur,condftiore ofugreemcnt on the parr of rhe Bank under rhis Agreeoentand/or the inJo.turion Memorandum and su.h defautr has .onrinuedfor a pcriod or 30 (thnty) days after norice in writing th€reol has beengiven ro the Bant by the Trlstce (with a copy mrked to rhe
26.3.2 Supply oi MisleadinS InJornation
Any materiat inJoimation given by rhe Bank in this Aarenenr ano/ oro n the leports and orh.. inlormrion furnished by rhc Bank ro rheT.ustee quarterly/half yeady (as reqlne.l to be lurnished in terru ofalPlicabie Laws) o. in rhe InJormation Memoranduo and rhe$armnties Siven/deooed ro h.ve been Siven by tne lank rhqeun.leris 1o!nd to be hisleading or incoi.cct in any harerial respect.
26I L Pr.c.edingsagrinsr rhc Ba*
The Bank h.s voluntarily or invotunr..ily be.ofte rhe subjed ofpro.ce.rings under any banlruprcJ, or insolvency taw or the Bant isvotunrarily or invotuntarity dissoh,cd. An ord-"r has becn made by theTribunalor a spccial resotutionhas been pa$ed by the nembeG oftheBank for wnr.ling up oi rh. Bank
26.3.4. Liquidarion 01 rhe Banl<
The Bank lDs taken or suffered to be raken any a.rion tor its
2i.3.5. Ceases to carry ausiness
The Bank without tn€ .onsenr of Bondhol.terslrusness or Sives norice of its nrenrion ro do so.
27,
27.1. Upon th€ oc.rrrence ot antr sent which rhe Trustee deem ro bc adefault (indudnrS cvenh speciiied in sc.tion 26 hefeo0 (or which theTirstec has lurnished at least30 dalrs.noricc to the B.nk), th€,liusteemy, in its discrerion, andshan, upon.equest i. wfitin8 olrheMajoiit]Bondhotde6 or by a special resotution duly passcd at rhe meeting ofthc Dondnolde$ (held in accordarce wfth the provS.hcdul€ III be.eto), by a nori.c in writing to the Bant< initiarc thefollowing.oursc of adion:
(1,)
rake up the ftatter iegardinS dcfautt with the Bank and s€ek.laiification in relarion to rem€diat stels b€ing taken in relatior
1n('!te Messlry sr€ps in terns of slBllsratuto.y/r€gulatorySuidelines/applicable .nd subje.r to dre provisions of StateBank of lRtia A.t, 1955, in accordance wirh thc tehb or rncIiforhation Mcfr orand!n.
//d)tded that remedy availaLrle b rhe TNst€e and/or the Bondhotd€Epursuant to the occurrence ofan evcnt ot defallt identifie.t in S€.rion26.3 3 and/or Section 26.3.4 hc.eol shall be subjed to ,Lo$Abso.bency' (.s per th€ reins oI hereof, the llJormation Memorandum
27.2. Such action shall be taken for and on b€hatl of all th. Bondhol.lers thcnoutstdn.ling and the Trusrec shall reqrcst the Bondhold€re ro m^kearailablc th€ funds for taknrg l€8al action
27.3 The amount that may be .e.orcred from thc Bank by the Truste€,wh€thc. by sudr leSal action or oth*wise, shali be dGtributed by th€Trustee amon8sr the Bondhotde8 pro-rata in proportion to theamounts then outstanding and due ro thch, p.ovidcd iowever rhcTrustee shatl be cntitled io first deducr from the amount so r{ovcrcdall the costs and crpenses incur.ed by rhe Trustee for reatisarion of theamount and the rcmunerarion oI th€ Trustce then ourstanding.
274. It is hereby clarified &ai no ithsranding anything to the conh.a.ycontained hercin, the Bondholders and/or rhe Trustee shal not havethe riShr ro deman.l repaym€nt of Prjncipal Amolnt of rhe Bonds or
Coupon payhents inrelarion to the londs lpon ur oLcuEence or anyevent described he.ein or in the Inlormation Memorandun, othd thanin the case of banlruprcy dnd liquidarion ot the Bank.
27.5. lt is hereby claitied rhat, subj€.r to the rerms of th€ SBI Act, iI rheIsslcr goes into liqui.lation:A. Befo.e the Bonds have been wrftrcn oIf: rhen the Bonds will
absorb loss€s in accor.iance with rhe ord€r oI seniorigr asspe.ified in the Informarion Memoran.ilm and as pe. usuallegal provisions govc.ning prioriry ot clatns; or
have no claim on drc p.fteeds of Uquidation.
27.6, It is hereby .laified that, subjed to the provhions 01 rhe SBI Act andthe Banking Regulation Ad, 1949 (as amended from rime to time an.lto the eltent appti.able to lhe Issue.), ii the Issuer is amatgamated with
A. Berorc the Bonds hav€ been wriften,olf: the Bonds will becomepart ot the coresponding car€gorics oI regulato.y capitat ot rhcnew bank cherying afrcr the merSer, or
B hav€ bee. w.itten,olf:
hav€ been written-otr fhe Bondnolders Bilt
the Bonds wnl nol bewritten,up by the ahalgamated ent y.
27.7. Itis herebyclalilied rhatany expenscs/costs incurcd by rhe Trlst€e inundertaking any adions under rhis s(tion 27 shalt be borne by rhe
RIGHTS, POWERS AND DISCRETIONS O! THE TRUSTEE
28.1 Ce.eral Riahts,Pow€lsandDbcrerions
28.1.1.In addition to the othe. powers conJened on the Trustee andprovisioE ior their lrot€dion and not by way of limitarion orderoSation of anyrhing contained in this Deed nor of any statutehniting the liability of the Trusree, it is expresly dectar€d as Iolows:(i) The Trust€€ @y, in .elarion to th€se presents, act on the opinion
or advice ot or ant inlormarion obrained lioh any solicitor,counsel advdate, valuer, surveyor, b.oker, auctionee,
qualilied ac.ount nt or orho exp€rr whether obrained by iheBrnk or by the T.usr€c o. othetrise;
The Trustee shall not be bound to rake an), steps to as.errainwheurer an)' event oi dclaulr has happ€ned;
(it Sar€ as hcrein othcu,ise €xpressttr provided rhe T.ust€€ shal,as regards .ll rrusts, po$,eis, nuthoriti€s and discrerions, haveabsolute and hcontrollcd discrerion as ro rhc exercisc mcreoiand to th€ nrode and tine 01 e!.rcise theicoi to protcct th€inter.st oI th€ Bondhotdcrs,
28.1.2.Itis
(iii) With a view ro lacititating anl'.le.ling undcr any provisions o{thesc p.€s€nrs the Trusrce shati h.ve 1ul power to conscnt(wher€ slch consent is requircd) to a spdfied kansaction orcl.ss of rransactioN conditionally to prote.t the int€rest ot the
(iv) Thc Trustee sha tt have ruU power todctc.mnrea questionsanddoubts arising in relation to an), ot the provisions hereof andcvc.y such rl.termination bonaftle dade (wh€th.. or not rtresam. shallrelar. wholtr oi partially to rtr ac|s orproccedingsotthe l.ustc€) shall be concllsive and binding upon aU personsintcrcsted h€reundel,
Tle Trustcc shall havc th€ ri8hr to do alt acrs or dee.ls and takesuch actiotu as may be requned to be rakcn by dre Trustce asper rhe te.n$ an.i piovisions of this Deed and/or under theSEBI Debt Regutarions, th€ SEBI (Debenturc TrustcctRegulations, 1993 (o tlte ertent su.I laa,s ntrl rtstunLns nreqplicabb to the hsut), lor the purpose of eacrcising Is riShtsand p€rlo.ning its duties and obligations unde. rhe Deed, theSEBI D.bt Regulatiotu, the SEBI (Debcntutu TrusiecoRegulations, 1993 (ta the .rk,t !L.h tna6 and tgutntia,s aEaryli.nble ta tl? lssttt), wtitings and inshumenrs relerr€d to in
A.cordin8 to the terms of the Issle? as in.o.porated in rhclnJorDration Memoranduh, the Bondhotdes shaU bc oeemeo rchave kreveal,ly given their consent ro and au$orised theTrustce of anl othe. agenrs or authorised offi.ials of ihe tlustee
to doallsuchocts, deedsand matt€rsand thinSs in respectoforrclating to the Bonds as the Trustee may in jrs absolltedikr€tion deemed necessary or required to be do,€ n, rncnrte.esr of the Bondhotd€rs.
(ii) All rights and remedi€s unlei this Deeo anu/orTransaction Ddumcnts shalt resr in and be exercEc,jTrustee subjecr tu S{rion 271 hc.eof wthout havrng rrelerr€.1 to the Bon.lhotders.
(ni) Any paym€nt made by theGsucr to rhc Trust€€ on behalfoi theBon.lholde.s shall dirharg€ rh€ Issuer prc la,ro to the
(iv) No Bondholdc. shall be entitled to procce.l dire.tty againsr rheIssu€r unless thc T.usrecs, having becom€ so bound to procee.l,
Thc Trustee shall perform its duties and obligarions and exeroseits .ights and discrctionr nr keepinS with rhe rrlst reposcd inthc TNstees by th€ tsondnouers and shallfu.ther condud itscttan.l cohply with the provisions of all applicabte L1ws, p.ovidedlhat, the provisions oI Scction 20 of dre tndian Trusts Act,1882,snall not be applicable to theTrustee.
(vi) Th€ Trustee sh.tt cary out s .tuti€s and lerform jts fun.tionsas required ro discharSc its obligatioro undef the rcin$ of SEBrD€bt Regulariong rh€ SEDI (Debenture Trlste€s) Rcgutations,7993 (o the ertent su.h taris . tytatia"s ore nppticabk to theissk4, this Deed, Dis.losu.e Documenr and a other .elatedT.ansadion Documcntg wirh due carc and .lili8ence (in.ludingthc Trusr€e's <]uq ro cany olt such a.rs as are necessary for thep.ote.tion of the Dondhotders, rights and rcsolvinS then8rcvanc€s).
28,2. Power ofTrlsree to DetcSare
Tne Trustee hereol being a body corporate, mal,, in the execuiion andex€r.isc oI all or anl oI the trusrs/ powers, authoriries and discretionsvested in them acr by an otficer or officers foi the rime being oI theTrustee and tn€ Trustee may atso, whenever they rhink it expedient,
any ofthe huste pow€rr authoritiesan.i discr€rions vested in them bylhese prescnts and any suchd€leSation nay be made uponsu.h r€rnsand condirions and subjed to such reSularions (induding powei rosub-delegare) as the Trust€€ may thinl< fil. Th€ 'l rusree shall, in case ofdclcgation of any powe6/.ights, intimate the Issu-"r wfthin 3 (thrce)days of such.lelegatior
28.3 Powers ofTrust€e to Employ Agents
Thc frustee may, nr carrying out the trust trusiness, employ and payanli Person to t ansact orcoiclr in t..nsacting anl business and do orconcur in doing all acts requne.t to be donc by the Trustee includnrgthe rtreipt and palmcntol nonevs and shall be cntitled to charge andbcpaid all usual prof€ssional and oth€rcharges forbusiness knnsnctcdrnd acts <lone by th€m in .onncction with the trust hereof and alsoth€ir reasonablc cha.g€s in addition to the qpcnses in.ured by themin.onnection with mattcrs arising out oI or in .onncction Nith thesep.€s€nts includinS matteb which mighr oi should have bccn attcndedto in person by the lrustee.
28.4 Linitation ofLiabilities ofrhe Trustee
G) The Trlstcc and its emplolees shall noi bc li.blc for anythingwhatsoevei crccpt fo. a breach of trust knowinSly andintentionally comditted by the T.uste€;
(b) TheTrlstce an.l its dnployeesshail notbc liablcforany delault,omissionor delay in perlornnrg or exc..ising any ol the pow€rsor trusts expressed in these presents or contain€d or any of th€mor in cnforcing the covemnts contained thercin o. any of themor in Siving notice to anl person or persons ol the crccutionthereof or in taking any othef steps which may be ne.essary,exp€di€nt or desnable or Ior any lo$ or injury wlich may be
occasioned Lry reason theicof lnless the Trustee shall have be€n
previously reqlestcd by notice in witing top€rIorn, erercise ordoany such stcps as aloresaid by the Majoritt Bondholdc(9 orby a Spccial Resolution dull passed at a mccting of theBondhold.(t/Beneftial owne(t and the'liustce shallnot be
bolnd to perfoh, ex€rcise or do any such acts/ powef orthings or to take any such sreps hlcss and until sullici€nt
moneys shall have bcen provided or provision to the satisfactionof th€ Trustee hade for providing the same by or on behalf oIthe Bondholde(O Benelicial Owner(s) or some 01 them in orderto p.ovide for any costs/ charges and expeN€s which rheTrustee mat Incur or may have to pay in .onn(tion with thesame and the Trusiee are indemilied to rheir satisfactionagainst atl further costs?.harger €xpenses and liabititi€s whichmay be jn ured in complying with such r€qlesr.
G) PROVIDED NEVERTHELESS rhat nothing conrained in thisclause shall eaempt the T.ustee from oi indemify them a8airurany liability for breach oI hust nor any liability which by virtueo1an)' rule or law would othetrise aftach to theh in respect ofany 81o$ negligenc€, or wilful delault which tlEy may be glilrynr r€lation to their<luti€s thereunder
285 Trustee May Conkr.t with the Bank
Neither the Trustee nor any aSent of the T.ustee shall be precludedfrom making any .ontrad or enteling into any arangemenr orriasaction with the Bank or with itself in L\e ordinary couse ofbusiness oI the Trustee.
29, RETIREMENT AND REMOVAL OF TRUSTEE
(a) The Trustee nay at any titue, aller 8ivin8 30 (thnty) days priorwritt€n notice ro rhc Issuer, without assigning any reason andwithout being responsible for any los or costs occasione<1
therebl, resiSn as the rtlste, lrovided thar such Trustee shallcontinue to act as Trustec until a successor rrustee is appointed
The Banl shall, upon r(eipt of notice oi resiSnaiion issued bythe Trustee, take prompt steps to appoint another entitycompetent to act as trustee lor the Bondholde6 in llace of theTrustee (the "Succ€$o! Trustee").
(b)
In case of resignation ol dre Truste, the Trustee shall, wirhin aperiod oI 7 (seven) days from the date it ceases to act s the
Trustee, refund/ return to the lsue. the pro rata Annual SericeCharges (under section 29.1 her€o0 paid to rhe Trustee by tne
The Bondholdes nay for sulficientcause but, aJter Biving not less than2 (two) months' notice in wfiting to the Trustee and the Banl, removerhe Trustee by pasinB a Special Resolution (in accordance withS.hedule III hereo0 to that efi{t, and by the same resolution nominatean cntity competent to act as th€ir husree and requne rhe Aank toappoint such entity as the "Successor Trustee". The Bank shall within15 days of .eceipt of such resolution pa$ed by the Bondholders tale alln{essary steps to appoint the entity named in the resolution as theSuccessor Truste€ and.omllete all neccssary fo.oalitics to give etf4tto such aPPointment.
29.3. Suc.essor Trustee .s rhe Ttustcc
Upon identilication ol a Successor Trustee, pursuant to sullsection 29.1
or 29.2 above (as the case may be), and upon extrution of the dee<l ofacce$ion (substantially in rhe lo.m set out in schedule iv hereo4, the
Successor Trustee shall b€ deemed to have been appointed as the
Ttuste and all referen es in this De€d to the 'Truste' shall, uponexecltion of the aforesid deed ol acc€$ion Gubstantially in the formset out in Schedule IV hereo0, ude$ repugmnt to the conterl mean
and refer to the Successor Trustee, and the Successof Trustee shall
without any further act or d€€d succeed to all the powers andautho.ities of the Trustee as iI it had been originally appointed as th€
TRUSTIE'S REMUNERATION30,
30,1. thc Bank shall lay to the Trustee renuneration for then services (as
T.ustee), as p€f the T.usteeh consent letter no. 21.10.2016.
30.2. The lssuer shalL not be requned to pay any .omlensation to the
T.6tee on premature temination oI this Deed, save and ercept forp.o-rata fes that the Trustee may be entitled to for the period oI timealready seNed by it as a Trustee. lrovided that if at the time of the
premture t€rmination of this Dee<1, th€ Trustee had already been Paid
(iiG).i,,lEldttd"r ,t '
in excess of such pro-rata amounts that it was entitlcd to for the periodol timc served by it as a Trust€€, the excess amounls shall be
reimbursed to the Issle. withoutany int€fest thefeon.
31, TRUST/REALISATION OUT OF COMPENSATION MONEY
311 Thc Trustec shall hold UPON TRUST the monies, Keived by th€mIrom the Issuer in i€lation to thc Ronds.
31.2. The amount that may be recover€d lrom the Bank by rhe Trusteetwhctho by such legal adion o. otherwise, shall be distibuted by theTrustees amongst the Bondholders pro rata in proportion to theamolnts then outstanding and due to them, provided however theTrustees shall be entitled to fistd€du.tirom the amountso re.ov€redall the.osts and exp€nses incured by the Tnste€s lor realisation ol th€
amount and the rnruneMtion ol the Trustees then outstanding.
31 3 lhc Bondholdcr sh.ll bc entitlcd to procccd dircctly lgainst thc Bank
with prior intimation to thc lrustccs, in thc cvcnt of srchBondholder/s joining the Trustees as Party D€f€ndant, dre Trlsteesshall be €ntitled to reimbursenent ofetp€nses for rlef€nding slch suitfrom such Bondholder.
12. PROVISIONS FOR MIITING OF BONDHOLDERS AND OTIIERPROVISIONS IN R!LATIONTO BONDS
32.1 Th€ provisions set out in S.nedule Ill hereto shall apply to tne
meetugs oI the Bondholders.
32 2. The Bonds shau not, except as provid€d in the Stat€ Bank oi India Actan,i/or Statc Bank of lndia Regulations, confer ulon the holdersthereof any rights or p.ivilcgcs availablc to thc shareholders of thclssuqincluding the right to r(eivc noti.cs o. AnnualReports ot or toattend and/o. votc, at the Genelal Meeting of the Issuer.
32.3 Tle lssue. shall be entitle4 ftom time to time, to undertake lu.therissue bonds or incur lurther indebtedness h mv mamer as deemed litby it in its discetioo witiroui consent ol or notice to th€ Bondholdergor anl of them and/or the Trustee, including by issuance oIdebentufes, bonds, loanr ceitilicate of deposits, int€r-corporate
g
ll,
depositr bo(owings and/or indebtedness by o. under ceacceptancesad/o. guaranteer" and/or any orher means as deemed lit by it, andon such terms as deemed ft by it, inctuding on interest / .oupon rate,tenor? rankin& etc, and from any Person as decmed fir by it.
NOTICES
331. AII notices regli.ed ro be Siven bI rhc rssuei or by the Trustecs ro theBondholders shau be deemcd to have bccn given if sent by or.ljnaryposr/ courie. to the o.iginar sote/ fnsr hordc. ot rhe Bonds and/ oi (publishe.t in one Lnglish daily newspaper havnrS natjon -wideciiculation and one regional language newspaper.
33.2. Alt notices reguired to b€ 8iv@ by the Bondholde4s) sbn be Fnr byr€gist€re.t post or by h.nd delivery ro the Isuer o. to such per$N ar suchaddfss as may be notified by the Isuer fronr time to rihe.
333. Unless otnetrise stat€4.11 noric6, aplrovalr irotiuctiotu ant orhcr.olmuni.atiotu for tne !!]!o*s oI this Deed my bc given by la6imne,by emil or by p€Bonal d€livery or by sending thc sde by petaidregistercd mril addJ€s*d to rhe Parry concemed at irs addr€s or rhe fdnumbers st out h€reu.der ard/or any other addrs subsequenttynoiiricd to the othci Pa.ry for the purpo*s of rhis S€dion X3 and shal bed€emcd to Lt effdive (a) in the cak of emit, upon tne rnding of theenail by the autho! theHt (b) in tne ca* of regisrercd @ir, 3 (thft)carendtu days aJter pGtin& (c) in rhe .ase of facsimite at the ttme wiendispakhed with a report connming prcper tratumission or (d) in the casof pesonal delivel', at ilE rime of detivery.
Noti.$ ro Sfa he Bcnk or bd ia:
14th noor, State Bank Bhavm,M,dde, C"ma Roa4 Mumbai 21
97-22-22355y8
Noti.6 to tne Trust&. i DBI Truste6hp Sen ices Limit€d
MISCELLANEOUS
Asim luildin& Grcund n@,1Z R. Kl)lr@i Md& Balard EstatgMmbai400 001
97-22463\ 1776
ajirguruji@idbih*tee.com
34,1 CoverningLawandtuisdiction
ThG De€d md dy disputes o. claire dising out of or in @ll@don withili its subj{t mfE| q fomation (including noMontrachral dispurs orclaim) is govemed by md shlll be cNt ued in aeordde with the lawsof India the .ourts md hibuDls at Mmbai, Mahdashtra, lndia shall haveexdusive jurisdiction to d€ide my disputes or adjudicate o ey mtter inrelation to this D@d.
34.2. I.formation Memorandum to ftevail
In the event of dy repugnancy or inconsisiency between these
Presents/ or any otho ageement o. undertal<in8 that the Ba* mayenie. into with or decute in favour 01 the Trustee
'n relation to the
presnt Issue, the Infomation Memorandum will prevail for ali
PurP6es and for all intents.
It is hereby expre$iy agreed by and betwen the Pdties that theobligations oi the Issuer shall be Soverned by the provisiotu containedin the InJomation Memonndum and these presents, dd in the eventof there being my inconsistency or repugnancy between the provisiotu.ontained in the Information Memorandunr dd these preents, the
Fovisions contained in the lnfomation Memorddd shall Fevail forall purposes and toallintents,
OTHER TERMS35.
E
G) lach prolision oI th€s€ prcsents shall be considered severabtean.l if lor any .eason any provision of rhesc piesents isdetefmin€d by a cou.t of competcnt jurisdidion to be invalid orunenlor.eable and conhary to Indian law or exisring o. futureapplicable Laws, such inlalidity shall nor iftpair rhe operationoforafiect those prc visions o f these presenrs which arevalid. tntlrai .asc, th€se prescnts shall be conshued so as to tihit anltemr or provrsion so as io nake it enJorcclble or valid withjnthe requirencnts olanv applicable Laws, and in the event s!.ht$m or provision cannot be so lihited, drese prcsenrs shall b€construcd to omit slch invalid or unenlorceable provisions.Following the determin.tion drar any prorision oi thcse
Pres€nls is uncnJorc€abl€, thc Parties shall negoriate in goodlaith a new provision that, as lar as legalty possibl€, most nea.lyr€flects the irtent oi thc Parti€s and rhat r€sto.es these prescntsas ncarly as possible to its original irrcntlnd eflect.
Il any condition, clause or provision of rhis l)eed notbeinS ofalundamentrl nature is h.ld to he ill€gal or lncnJorcealrie, thevahliry or enforc.ability of the rc(aind€r of rhis Dccd shalt nor
li 2. No waiver, Cumuhtivc Remedies
{bl
153. Authorir, to SiBn De€d
No failurc to €xercise, and no delay in exe.cising any right,pow€r or lrivilege nerelnder, shau operate.s a wairer rErcol,nor shall any single or partial exer.ise of any right, power orprivilegc hereunder picdlde or requne any other or rutureexercise thc.cof or th€ er€r.isc of any riEht, powci or privilege
AII po$ers and remedies granted to any Paity he.eto theint€ntion being drat all other agreemeDrs, insrruments anddoclmcnts €xecuted in conn*tion wfth this Deed shall becumllative may be exercised singly or co.cu..ently and shallnot beex.lusive olany dghts or remedies lrovided by raw
Each Party to this Deed repr€senrs and warrants rhat the personsi8ning this Deed on behalf oI such parq is dlly audrorised by theParry ror and on whose behal{ he is signing rhis Deed to ex{ure thesahe in a manner binding upon the said parry and that aI corporateapprolals and procedur€s n€ccssary for vesting such authority in himhave bccn duly obtained and complied with.
This D€€d may be ex€cltcdcach in the like lorm and.onshtute one and the sameD€€d by signin8 any one or
in duplicatc of docun€nts orcounterpairs,all oi $hi.h wh€n taken togeth€r shau
document, and any Part] may crccute tlismorc sucn oocuments o.counterparre
No rariation, modifi.ation, amendnenr or waiver oI.ny provision oIrhis Deed shall be binding on any Party unless and to the extent tharsuch v..iation is recorded nr a writtcn docum€nr cxecuted by ea.hParry hercto, but wherc any such .tocument exisrs and is so signed,suchPa(y shall notallcgc thatsuch documcnt is norbindjng by vntueoi an abscn.e oi considcration
Ilach Party agrecs that rhis Deed is subjdr to a stamp durJr asnpplicable and as has b€en pai.t on this Deed and ea.h parbr h€rebyiricvocabtl waives anl, del€n.e to its admission in cvidence thar rhisDecd is tuadequar€ly stanped
35.7, Effectivenes of the Dee<l
'lhis Deed shall be elfective on and lrom rhe darc tirst hereimbolcwrittenand shall beinlorc€ till themo es inrespcctof theBondsh.!eb€en paid-off or wirten-oft as per the terms of the JnJormrion
The lssuer co.Jirms that n{e6sary .lisclosures in accordance wth theregdatory requnements have been mde in rhe l.Jor@rionMemorandurv 6 provided/to be lrovid€d 10 rhe Investors. It isundeFtood and acknowledSed thar rhe tnvestor6 deem to havecaretully read ed noted the contenB of the informationMemorandum; the Bondholde6 have hade iheir own independentase$ment, evaluatijon md judgmenr of the mer oI invesrment in rheBonds and the ksuer by coBulting their own linanciat, legat, td ddother profe$ioDi advisors as to the rjsks and invesrnenrcomiderations a.ising 6.oh an inveshnent in the Bonds and alsoPosse$ the alpropriare resour.es io analyse such investhenrs andsuitability of such investment to such Invesror's particutarcircumtance and are believed to be experienced in invesring in debtmrkets and are able to bear the economic risk of investing in such
SCIGDULE - IThe tbt of Bonalholds, !s on the Deehed Dare of Allofn.nr i.e. Odobet 6,2015, ir ad .pe.ifieal below.
Coupon Ete t! ft@d nte of E39 yo P.a rubiecr ro Ca[ Oprion after andnimu of ftve ye4 aE weu s r{ od iegdatoly @U.
Sr.No, (R!. in No. of
L ICICI B rk Llhit€il z5o0 25,000
Total Amount Collected 2J00 25r00
SCHEDU]-T. ]I
lsumtlnry T*h1 shet to be npperded hue)
Non<oNeftbre, Pelpetuir, subordinai€d, uns(ured Bad nr.onpliant Addiiionar Tier l Bonds in dF nature oI debentures ofRs.10,00,000 e,.h (Gch a "Bond")
n'e boidr are nenher sRrred norcoverd by a luaEnre ot $eoh'I rrr' 3atr"r6 rha. hg-uv or
4 ono, J)p'-d.-rl-.eaoiryo he !t4m \i.i \! o|nc
'fhc dains of rhe s0ndhotde6in $eBonds shi[-' \-'n\-.ro' r n ry+4..drd
perp!toal non .umltative prefcrcn.e shares tsued by thc
(it Be subordiiardd deposiroq senelal.r.Jiio6 and subordiniEd dcbr of rhe B.nk orher rhaiany subodinied debr quatitying as Addihonat Tier 1capihr (as defined in ihe Bel rrr cuidehns)l
L,n, {F ' b,\Au$d Surani+ or he
cniity or odrar aiia$eNnr thar|€8aly d @noniallt ennacs L\esenioityoftnedain
(iv)trnlcs ine brns oI any subs€quenr issu'nce otb.rd\ dAr'qi.,e\bv.l-"BdnI.pq . I a.h, .i.f\ol
io d'e Bonds issued under lnis Disclosure Deuneni o!u1L r\. rB. .pq,lip\ or e ^'.e m r guro.tinp\. rhe, lirnr o, $c 3o dho.d,, \hdt. o" p ni pd..u q,.h,, -,orhordq\o .,h.uti\.1.q, d"ba
(!) rank paripasu wnhoutprctc'en€anronss h.Nclvcs
\rn 13 'o
fd o,Fd-J.lains or thc Bofdholde6 shall be subjed ro rhe provisions otcoupon Dis.erion, Los Ar'soiben.y and oiher Evenb
ThcB.ad.\ d ro ionntuF.a "biti,6",a,lm8&c60r heBank if such r brlmce sheer hn lorns pait ot a 4quncneni topDvc insorven.y under any taw or otherwke
.h-fouohlS"d o 'nvno.
dpd,3,bte oo4,h.,p,tslfu.
vu.udr r i rubh. F 1r i, I n htu ,otu r\ d4-"o i 5<tio.,)l_- olrl- r o'nPrf\A,r jotInsfiaice Conlanier, Plovidcni Funds, Cratuii' !und!,
.T"'Nn
[$ryJ Qr:'\st192l
Supenmudion Funds and pcnsion Furds, co.ope6hve 8anks,
d, bq EF compd...\a h bo. d\/ debq uF
'o trva , bi.deenbrcs, srarurory corpocdoN/ undenakns, eiabrishcdby ccntrrr/ sbre rarisraturc auUrorized b mvcr in bonds/
. hgib " i,Nc\ o .\rio \, - b+. ddo,"
\ou-i.11{or Jc rm..rf h.r" .p,hr.ey"i\, lo,r,dinrreb. o
'nvps i,, hA\.Bo .h, Binr h, l
to veriry rhe erisibility/rurhoiit of $eDr'd 'a.'p' I h'
(and/.r any rnNdioi DruFed n
r,.. ini ,,, 4 4I d4nr ".- u r, pq\o, \
r ,ti", bnt o,,kg.r)r g lor \' t-' Pr ' ' orh Boo
D^.\on., Pco L€o!.\ r!L1d ro tre t4r nd'B'br
inlr,or.r thae 8onds, ur. Bank shan ,dr be reponsibtc in any
The lorro\riry.r'$ of invcdos ap nor etigibte ro pmb.ipare in
n!,\ o' . t-o i3 \iordL r 'cd.dp,'r)bor or sisniri.anr iinren.e (is
.onrrd un.rer ippri.ibre *aturory/ regutaiory ie'trnenen{s.{nvand'dnr by Fl5 in nrcsc Bonde ubi.'
'o,otr,p . ,e \. ri 4 \ I d,onn.'on. L p. titso bl
sEBl/odrer iesuraro'y auihoiiies on n've*'nent rn ihescr,n , r olr !l lTi oI 49% of rn!
ksue respedivery subjer ro thc invshenr by ea.h Fu nora. cdd ic r\,frh. t\\r.r,op .lonr."i,o.a,tADAb vdra {JMryg-qIo !.1
"cHsrl.!{+/shbrd,bt cRrsrland "c n! Alr (Dorbh A plut,
aL8-p i, s Addirotr.r Tq Icao'blr1d o\q, .dp'b o rh.B,nr Io,npng'h-nos, . ip.r,. J,4tud r ard o'.tr,n.:ng i'.
i|nRBrCudclnesrh. B 1r, d- | l-.' u" ro .iucmqi rr
. ipL I d o 0,44 'rpir4t t,\c "i rv. rh.purpose ot 16 lcgut
\mu.,rabre4ro couPo'Absolbcncv" (as u,e .4e mav bc
5dr Gbhc, ryery )ed bll cll dar (/e€tui5al)
I'tsp\ d. $e Co pon Lic c l,q tuitldrnonorirlotrFL,u.der the provtio'E of the Iiconc lax Acr, 1961, or any orhershtorory modifi.anon or rc cnadment rr'er@t as appticirrte) wirbe paid !o the applic b on dF appliahon nDney lor dre Bondsi{, rhc pcriod srairinS fi.m and includinS Up dar. of aatiahonorapFlicriion n,oney in r:nrcls Brnk ac.ourtupioonc day prior
n oa. o f5 LdL,l. ro orcfunded i,r .a3a or invitid ppti. ios or Appti(ahons tirble tou. rr hc i, r,di,3 dpp 2 ,v, . TJd. o) pq,o, \ ird,.,bl.oapplJ for in.r/or h0rLr rhc Lronds
NA I Iotlvcr in cr* or redenprronor orheruise n,,..odarc wi$ rBt
due ro elercise of.aI ophonCridelines, the Bonds shall
Inrerer ror (nch ol rhe intere* pd.nnG shill beconlubd is perA.tuar /
^ciurr .ri' .ounr .onvs6ion of d'e fa.e vituc/principil
otrbhn.ringar rhc coupon mreiordiied off ro rtr. rcarcn iupe
rnicEst f.riod Naa6 .&h pcriod besinnnrs on (and includins)the de.Fd dateofallormen(toranr coupon Paynenr Dah ind
h".,(orpoardy!{ D"q .al.
Sanplc LftGr .al.ula6on
rrh rib.6t (.ubjed to -codpoiDisnetion,l {crued til one dry prior b $e can Daesubjd badiushenb and/or wiit+oft on a.ount or "coupon Disrcrion","r.$ Absorben.y" & "oher Evdnb" nentioned in $e sunman
AtPd (Rs r0ras p0Bo'd)
{brd J'_v' d |lr''condition to dedse oI .all oprion", et6r !o excri€ a .alr dn rhcBo, d (u whvr. bu.
'o. ir pd. / 012srh oroL4, :02 tb. rr rh. |]r
ln..m\p "^ or U,"Dl1,nDdbo' Auomor \da $uqaDlhl or anr couFn ra! mcnt Drb L\eGne.
Evenf). kle may. d ib option, rcdeem d,e Bonds. in l;ob butnor n' pari, ria rcdei'ption pri.eeguatb oubbndins prin.ipal"moun uDj4. o idr .r-.,
' !r dand other Evcnb nFnriodcd in ihe sumnury rerh shc;r,to8ethcr wiin any,ccrucd but trnp,id inrerc* (subicd io cotrDoDF.F1or, o,b_r^,tud,sr.t-.4rFLed.o, "q irg.Jtop 6on on such Bo ids. Any redenphon upon rhe o<uden.e of a""srr.iol rrcn. {i Lc uber rc u" p,oq ron. oa.. eJuade "Cdll \oiG'on .'nF :1d .onoirotu r,4n,l (11
India or any change in rhe officiat .ppticarion oI srch tas:
'.gurir otu or n tu'8\ L
ro i[q b".' gc .i .d ro i ni" Jld ,rio,:r,a p\ror to. p. m-ib hxarion r;bitihes wlr fspcd ro.orponon the Bonds, r$ucLray, i rs opuoD fd*m ihe Bdds, rn whobbutnotjn pan, ar aredempbon pn.a equr ro otr6bnding prin.ipal ,Founr subl€d
Lip,drhA\iut. b, o.D 1DF.,q.o. r (o . ,t|ld sr
'{- p"viupon fG.L'rn"o'dt".h.d\i - ubrIr;
6e provisions doscrih€d unde. "ca[ Norificahon Tine" and,on ii|or.(.) fo | )anu m.-r o
.f hp+ \ anv,ti.in3. . o.,D.,.t-e.. ht,. :*fir r, I or (oI'.8. r. id ! or .u 1e_ p'oru sdF,t rh,,"un t",r
RBr may F€rmft tne rsuer io exerbe rhe Tax cal onrv if ihe RBt
Tax Evenr rt ths tine of isnran€ or Lre Bonds and if rhe Randenonsbares ro dE saiidadion or RBr ur ihe Binkk capjblpo.irion \\c,dbo\,
Ererisc or cal ophon on rhe Bonds bv rh. lrank ;itifi;;i;
(i) cau optidr may bc *er.ned onty afrera ninimun Deriodoa fivc yem from theDehed Dar
(,t ro *eoR r
(iD) Bd*rrrl ndqmiseacn unr6s(a)rhe Bond ir iepla.cd wi$.aPraqurjty and ur rcptacamenr of ilris .apial is done at(nditioE which arcsusraiiabtc for UF in.ome capa.jry
B k defonshries rhar i6 cipibl porihon i5 r,enU'e nini um ..pibl rcqutanenb airer re .all
open lor bu5incsin d'e.ity oIMtrnr,ai, Mahandt rrrhcdargol paFrnr or i,rtu&$ do?s nor rasucNdinS Brsinc$ Day IiI be consideftd for su.h pay,nenr otnnere* wnh intere* for such addftionat perjo,l such addiriomrinrcJc ' x bd"n,Fd oarh"rb-\ pa.,Ljh o. hen"rcoupoi IaJmonDdts In.i* $e ca o!tron D4. r/cre sed
.-v-
doer not tall on a Busines Day, &e payment will b€ nide on thep'F.dig Bu\incs Dd). dlo g q,r o p.1/tr E'tur r..'u"d or.iie Bonds unrir btrt scludin! tnc dah oI such eavnent
1s days prior b €a.h coupon Payncnr Dah(a5 $e ca,e may be). In the *ent in€ R{ordwhich jr nor I Busins Dat rhe su.eedinSb. .oGide.ed as Rmord Dare.
bui not limihd io the lollowing in .onn€tion wnh the ,sue:
r?iter appoiiting, as Trune b the BondholdeBlLetier appoinhng nanger b tnelssueDcbcnturcTiu{p$hip A8@nent/ Bond'frushc Agrccmcnt/ Deb€dme rir{ Deri (a' requned),RatinS Lefle! from ntine ageng,-friparhie ASremeni betten rhe ksuer Regbdar b rhe
Tdpai e ASrement be&een the r$ue!, Rcgisbar b thclssu€ an.r cD6L ror Gsue or Bonds in dcnraeriatizd tornrLetler appointing R$israr d Mrhe rsuer and rhc ReSisbar; ppli.auon nade ro BSE aid/or NSE for s*kmg ib in.pri..ipre approvar (o! tnhn8 of Bonds;ListinE Agrenent wift BsE and/or r.IsE
]]re subddiption tion applicdte shall be a.eped for allGtion fldaxohrcd Lry $e Bar*, $bid b ine fonowil'e
r) riti.g r?ft6 rron CARE Rliir8s and CRFIL Lin edb) coNit ktu t h dr rDs6 ro '.r s r4se b ine
c) bnd fiom BsE an.r/ or NsE .o.veyi.s in?iiftipre
o\ '3 derfb 4 odtsda.hv'ric monpbred sPs hrtr
a) cFdt of Denar A@ui(o of ine Anofte(s) by nunbd of
b) Makins appli.ation ro Es! ad/ or NsE wi rh ls dnys lDnd,€ Deened Dab of Alobrnt b list rhe Bonds md sklnUB pefl sion slhh 20 days rion d,e Deened Dal€ ofAlobmi
.) NeiL\er L\e er* nor my Flnbd Fny over wlJ.h dE BaJ*q{ds6 onhl d sjsnjfian ninueR (a ddfed rndelrcramr ANmiiry sb]drds) shan purhe dF Bonds, norwould u\c Bar* diRdy or indiRdy fud rh€ pu.ha of Lrr.Bonds. The Bar* sh:l not grmi advm6 ag:'nBt d.E sruity
\o r'po i.bl- 1r fu'rhq,li"J'"d rh-r. r."lLido' olosFbourpaymnb shall not be de!ren h he an evcnt oI delaurL lrrBoadl o dA \. duh,\c ion8h6ro:GlekF \.rp.yns.ortutuFrheduled paynenb koup.n or prin.Fl) etrpt in biJ*ruprr and
118 Bondhord€D sh:[ hnve no .8hb b ftdenb ine pprynmt otutuF yharur€d payhenb GoLpotr or pin.ipat) exepr in hr'*nprydd (iouddbon. rn" Bo rc dir no, .
eb oI rh. Bar* jI uch r balare sher form pait ofa nquiftnst !oprcve iNorve4 undr anv raw or oinevi€
r d) i,bar i5 tu"lcd rr.r ho rh o,b ot -n,h .r Ib-nroLIPd,i,DvdAJcbPP!'DdE,]n.
Bair w noi so long d any ol rhe BoNrs rp oubhdjng :
nr d! r botu ) 'ii,rirJrio r o' divd",o o.
nrl.d v or]- o:v- h' 01 oJ d F rlr or no F rly FdFpudre, amr, retru.e o! orhcNjsc acqune ib comonf, uiq Tir I e.phlrodF. \d 6Jap hr 6" arJ J.J dr io1 i./ i 1i or oUFr pdy
e eMble drP B * tociftcr or <rcfd su.h piynenr)r or
(i0 Pay di<dbonary rrr6t or my onrer disribuiion on, ordiRdy d hdi€dy edem, PU(otheryiP acqune y ol ib iahfrd to its rieht ol paymeni oI dividanpaymnb, pan p,su w h drc Bonds Grchdng suju6 $ebn,a of khich stipurate nandabry d.mpbon).
h ach o* urrss d !.dr (, d,e ftxt courDn parnmt Dir.fonowing rne Dividend sbpps Dae on rhich or paynsi ofCo oo1" ourr hr F .m"d i | \utl, oJpoi (tdydbh o, .J r,
colpon patfrent datc) h6 ben paid in tun, or (ij) &e pnor appmlord A Boldlol,h' h4 h+n ob6 m1 v., d q. Jo.or - ) '{ ubo'id p rr A ii- d m \bpubb u rFc D!!-n r+ .run D+dj n -lprer,y cbriry dEr corFon on tu bodds rhal ndr be cmurahve ff.-o oon b tj."[ed or no, pr.l or pd,l, d dbt6e L\j1rJ.(o oonk- u,1u' p,io ,
"1
eid sbPPcr $dl nocr) sbp Fynrnr on aio$er iGhmenr $ herc ihe paymcnb on
ru.h an ahncnt m not tu1ly dirFtio'uryr) pFvq, d biLuM6 ro5h: e oJ...fo' a p nod rh.r, n no\
ra)oid d" po, I i, h", hh.h oecronrrerond\s
. n lid" u a rmurolg.,rjono.d "B ,r.urru,r,,3d do6,.onidion with mproye share prnro or uy €hduingdivity, ntrludiit r.quisidoG dd dEp6ls: or
d) inpede L\e tun djs<erion $d rhc 8ai* h:s, at au dmc, rocmd dnHbrrio6 o! p:ymei6 on the londs nor ad in at?y d'at.ourd hinder $a ffiapjbrtiion or rhe rank
'llp Tru6 shin p€{orm i6 duti6 :id obljgaboE md cxerncib ighb dd diyre[oD i. kepirg wio' u'e hsi iepced in tnerrud€ by
'rre holde{s) of dp Bdds and shal turL]rF .o ud ibert
a r.ompy qs rhc po\ i5ioB o dudppr r.rer,s5 p,ovi,ed $"d,e pnvisio,s of se.tion 20 of Lle rnd;n Ttub A.r $32 sha! nor bc
$ f ,')
effi/" \*/
P-{o 1'stumo1 s ,nubd ro cldSp iE oo[gabo6 u idcrh" .Innds dtl I ! n"nce
B.ad o i d" D bm, ," |ru.€, R"AUldbo i raru r b.nturTtur\p Ag Fmh' Dr lcu Do un Aar do dr orhq r hhuamdion ddumnb, wi$ due ca'e di&cnc m{r lomuv.(t rl1e tank shan have lun dis@tio
4rlA. r p4ro, tl On,d "L,boforpiymq ror, dpoq rh*pJyDe's di bc e. u subh.d rc m" efJ .rdx h"v. oobrisahon b mil* y dis6ibution/coupon paynmr in.ah or
o Tne bonds do not.ary a dividmd pushe/ Ieaim ie. if L\e Bant<d6 rd p-yrqrroupor'd,,Jc,J) 01 ry olnq,-p'LJ
iGhnent or sh:r. $e Banr< shax .or be obrigaba b makeoupon Payh.dt oh rhe bonds
(in) cflQu ionorcouponshinnorbcan*mtof der u(iv) BanL shall hNe tun a.Gs to .amlled coupon b mRr
ob[3ario6 6 l\ey ,,11duc.
"Ll no. mpcr d) 4 d tio' , o rlEb.dlEron sbkehotdcE.
(vi)coupos, unrcs .an crcd by $e Ba' ! shau be paid our otrn rrris conb:L coupon nay be paid our of
nn,nrJqi p,ofE Ho-,.d, ru.T.)qDroisd non,ffnient, coupon nay r,e paid 3ubj6t b avaitibitty ot suld.ienr
lqFd b.5P(f rP ?6L, \- ra,rJl fd o,,rqri, h,rn " inptur I dr ro!"(mu{ |
Ilo$aa P"tm nr oIi ouPo's on rh|eda is sub,*t to th. saJrr mctins nininum re8ulabrypquiPnenb for c[n, Tjer I and Tobt cnpiLi niic (d-r cu,Er,E andloJ orl.I I,v.ordL d rra i! 'i bJ F RB'r,d riF ro bT4 4 arlD G 'i\Lqor b rh Fq,,i"rq E o dp.h b,c, f d.r^o'L (r^
(vii)coupon on n\s Bonds sll nor r? dnuliti@ r coupon Edm l.lv' prorpd r.{ , L,b fv, \, i hc oLpor natr
such unpdd and/or. Qned coupon wil.or r,e pid in tubre
The uonds (in.lu,li'B rll dains, dena s on rhc Bonds andinb'c{$p@on Nrcrj.", r'r JeJvJ.on,ngir\.' ii\u4 ubJF'ro lo$ db.o'bcn.r f..itur+ ippli.ilh ro. roreqnb <,p,1
sel III Guidelines induding inon'plu^ p wirl h! lqu.rmcrr ot A'uF\ . rlP'cor " id "rsrbjrt to ccdain los absorben.y Ieatures as des.ibed heain and
nbr..nsn f,D cp{,tie,l td33e.Laqc d,,r d r ero,n.ofNon v'ab hry r\ pro\ ilao o, r a, .,
A(ordingl, the Bonds ,nd any claiN or denands or atryBoidholdcr or any other peBon.lai'ni.g roi or on behalfof orrou€h sudr Bondholde!, a8'jret thc Bank, nay be wrftren olt in
hrorA o n pd r ol In" lo owin3 u'33pr
(ii) Poini of Non viabirity
(t Lo$absolprion* Pesp
f rha crrr 0f the Bink ra . berow 5r v"',h toto..,.1,.(.lt t.(\ F
rcfcrrd to he.einabove ir .alled ihc "Pespe.ified
A wrn+off ot rhe sonds nry nave rhe follo$,in3 erfe.ir(i) redu.eihcdaim of lne Bond (up io nit) in tiq!darionl(jj) reduce lne anounr io bc rep d on thc Bond when .alr 6
(,ii) F{iauyor fu y rcducecorpon paynenbonrheBondl1'A E 'Fdo4nor day, o -onLluir) rF' r.dp at\..i..'o -requned b?rore a wdtedown of any ATi inrhumcnb (indudinsthe BoM4 The uank sha have rur dncrciion ro debrhine ih!amour ofAn hshns'6 (iidudng rhe BondE b be srftendown $bj*t b p mount of witr dow. nor exceedins the
rqu.rd .o t, ^B
(nwAs Fu{he!, thd affrcgrre amornr ro bc wdten {rown for:IAIrr F '.ne 601ti, .i,riu 3,rrP'
thc hiSgef lerel (rc. cET ton $ire.down Seneraied u.de!appli.abre rndiin A.counrinSsbndards or RBr tNr!.tiois ndofconhnrent liibiliries, potedtjrl rax iiabitiries er, ir any) or, iJ rhisis not posibre rhe ru prin.ipalvatle of the itrhumenb. l{Illenilp Bank brea(hes a Pre spe.iried 'frigger r?vet atrd rhe.quity is,,ol-rbhed I o.r' h.ido..' .L,t ,.pte \h"o dmoua.o., trty v I b" a.duJ.n f'o-'t " roLt eqL'q of rhd B,nr'o. rt.pu'po\.ord lmrrlSdFpopv,honof a.r,i,,B\robtpddouras dividend rr reiN of tut6 taid down ror haintaininS cap aco'eruation bufter Howevei, oice rhc Bank has arbi"ed robl.onnon clu y ratio ot 3% sirhour .ornring the rcplcnished^t' ir) "libr rr-d drnl m.,y i, Ld. I erApq .red.qurg 4,p .,t o, ? pL,po,p,. t."BtrL.h, h".c
Bonds whnh have b@n wiftei of .an tic^'ir.,nup0, rd r 'Iul ir ",1\o FJ-J,
'ono" "8, ir.r'd .dr,a" o iomP, r'"PelmFsion,.oMnr if aiy)(iD rt thc Poinr af Noo-virbiliry
A v eorf ot the Bon{ts at 6e IloNv nay have Lte toltowing
(i) redu.e thc clrLn ol dE Boid (up to nit) in tiquidrtion,n)'ou"'n""-o,nbb ts p,iio or r\! dond rhe
' t '. i
(iiD parhally d fllly rdue oupor paynenrs on thc 8ond.PoNrV triggcr dent sh l b€ as defined in the alorcsaid Basel IGuidelines and shal be dcier ined by lhe RBr.
U. fot\v h,rc.,
'/.^.t '
.ase ft should b€ noed ihar lo owing wri6ng.otf ot rhe Bonds and
.r4in\ rad dp-"nd, b -obd :bo.e,,d,r rhp Bd.( nuJ a ro$., p.,\on ol rA sdnr\ b.h,ll\f r bf cqu r d ro, ompAn\ai.of providc any ieliat wheihcr absiuhly e oniins€dry, b ih.
and dcnrmds orskh pe6on,hd qI o p,,mdr-dil
and irrevo.abry cxinrSunhed and rcrDiin ed udte$ othcniseF.if"d'rl.r'to.
onn'on equ'ty or any orher rsn li rory .apital (as undersrood i!'r. of rp - oF\,,,1 .n.u -ordiy'.pa.rm '|.,rPnd "iihscot, Ihe$d scnior or p'ri pa$u or sub.rdinah, and
isc sh rci be ftquned bcforeu" v 'h.vrfolinyor | "Bond. r1q" \ro'sl-Ldvdt-b"'rhe uondholdei hereor or any ollE p€6on craimins for or onbchall ol or tlnough such hold€I ro defranrt or seek Urat any od'erresurabry c,pfial b€ subjed ro prior or simulan$G ariie ofi orhat d'e teahcnr oflared to holdcr ol srdr orher rcglhtot.apitar be arso ofrer.d bo rhc BondhotdenThe Donds (indrdint all clainB, demnds on rhe Bonds and
.orh13 nr. drr .oP. on vU "PB'." i b p, m'r qil i" Frno,.nr pon | .o.!u hn-or
o.n ofNon . do't'h ' 3s, " to^v
The PONVT.$0cve.ris dF airticrot:d a dc.ision U'ar. Pe.nrancnt s
Re*rveUankotrndia,a.db thc decnion ro nakea pubk sdor inje.rion orcapnat or
tquiv, ts \,fpo'las dcrcnhed r,y rhe retevant
'Ihe anount oI non<qniiy .apihl to be wi[en oll ivilt be
n'e w.itc-off ol any conmon Eru yTier I capibtshannor bc reqtrned before rhc $r eolf of any Non-equ*,{^dditioiar rier I Md rhr a csllabry mpitarindrunrenr Th. order oI \lrfteorfep*rricd i'r rhe ofdei ofsenioity as per rhn rirormahonMcmorandu,\ and any other r$urarory norms as may be*ipulared by rhe RBI fron timc to iime.
n'e Bonds .an be triuen down hulhple iines ir .ase rheran* hirs ih. PoNv Tigger Levet subsequcnr to rhe tnstwrl*down. Thc Bonds whi.h has bcn srftren otf strall
L.vd r,,bt/ ,mpt).onsequent upon he trg3.r evcnr mun Ncri prior b any publre€lor injc.tion ol.apjrar so th* the capnal provided b, the putrtrcssror is.otdiluhd. Th€ BondhotdeB shall nor have any leddualch'tu on the Bank (induding rny dains whnh arc *nior ioordinly <h'c5 ofure Banr) rotbhrs.rnv trieeer.\cnr.ln
.!i(:
t.FA ir iouJ b! noed $n touo\rg bn0130( or 'lE
Bank, nor any other p€Eon on &e BankS behalf rhall be requnedio conpeaab or piovide any rclipf, lhether $turely oro"in3.. rr b rl e 30nd)old 10'.n) orh{ p". on.lrD D3 ro,
thrcugh sud, holder and rll .laiis andd- "i of u.h p"r o n. s.asharr dand pernaneniry and nrevo.abry erusuishcd and
oup-vre spc.irjcd in rhis rnfornarion. ,rv,omD o' qu'r) or dy o'l'e
.e3lr.io,),dP, r ("\ L.d, '
roo rrrq{r) w " Fa 4u o, p" ,
r a rrer r .apftal or orherwiseshallnoib€ requned befo( ihe sriic ofiof yot fte Bonds and
dL,tF o $. Bor,lhotdq hAr{r o fy o$cpe6on cbining ror or on b€halr of or Grough su.h holder iodemrnd or seek thrt any cu'er regulato.y .apibl be subj(r ro
r rhai thc hahrnt ollered r
%ado') ."pf"l L rlo otf"F ' 'o 'l-
For $€se pufpos, $eB,nk may b.(onsidcrcd $ non viable it-F" !"1r qh', t-. oh 1c ro iG r1dno ronSer renaiD a going con.on on ib own in rhe opinion ot rlre
'.i u... I, L'lci'o'-iqc Lop-"ro'
3on,3 con.em -rhe .riffn!rd6h.ed by rhe Bank srrotrldr,esud,rfinancial ro$es ind nirins rh.co non Equity Ticr l cap atofthe Bank should bc .onsidcEd is the nod rppropri e $ay toPrevent ihc Bink frcn rurnirS troindude *dre off / conveGion of non-e,luiq rcgutabry .apikl
o omD on \5dameauid ascodideql appropriiteby lne R€Frve Brnl:.
The B k la.in3 finan.iar difriculries and apprechinS a poNvwill b€ deened ro a.hieve vDbility il wiihin r rc$onable rime in
dilli.uuies ir apprcpriar. deasurcs are bkcn to rcvivc il Thc,.d{'e i.lud.,scucn.n.-lon olpqr i5, pilr$rol8h qnEo.fofuonds/ ptrblic sedor inj{tio. of funds a€ likely ro:
i Re*oredcpositors /invcnon'conlid€ne,b rnio'ovd iiinS
I cpb. mp,.<,b o"oh.iE.dp..'q.' hrn.tl'D J1o
.. auSnpntd'eresou(ebserofundbalan.esh*rsrowrhin 6\e case oI tcsh injdion ot funds.
rtihtcttiJBa s,t ht trsr.Jt'hrdr\ up:sutrj(t ro rn€ provisioB ol The shre B,nk of r.dia Act, 1955anended f.on timc b rinr
O Ir ure Bank Bms Lrb liquiddthe Bonds litl ako.b lo$es n
a(ord,n.e wrh the order of seruoriq as spc.ified in rhi'Infolnation Mcmonndun and $ per usual le3prcvnionssovemingpriodryorchar8es.
,) It ihe Banr goes hto li'tuidae6 will have no clain
on rheF6.edsorliquidahon.
^tttt@ndnt' al r brnkn{ mntpnny: lsttion 11 A aJ BR Ad, 1e4e)
srbjed ro 'he
provnions of rhc sr*c Bank or india Acl,1e55 andLr.nkiirg RcgurarionA.t 19,19 ar an
(a) rf d,e BanL n amarramacd wirh any oihcr bank bctor&e londs have bc.n vrihcndown, the Bonds willbc.omc prt or rhe .oresponding catgoies or qulatory.apiial ol $e ne$ ban* eNerBn'8 arter$ehergar
{b) rf dE Ba,,r h aharsanared with any oih{ bank 'fier
thewriren.dolvn iemPorairy, the
anarSan,ar€d enrfty .an wrib-tp rhe Bonds ar p.i itt
G) Il tlpsr is anulsanrred *ithary orl'erbaikafterihaBonds hava ben \rritren dor'. pernananrlr rha. Bodilr.annor bewilranupby theamalSan'ated entity
ru$oriti€s de.ide to Rorot uk $e Binr or.r rr3,n,i"U"Birl v[ 4]or.. r!",r Jrda rh,5AbonrqorLIR A.t, 19,19, rhc Bant will be deemed as non viable orapprcmhing non viabifiry and both ln€ pre spe.ified ti$er mdthe ti$ar at rhe point oI non.li:biliq for srje.down oIA-rr/AT2 tuhmcnb $ill hc acrlvarcd. .cordl€ly. rhe Bondsady Lp qflr,e, iovr rpn d Far) rcn,. ^n,r8^i, ho
The oL6hnding Piin.ip3r of rhe Bonds (e3 through rpur.hdeo , d mo'.on] j l" opdid ubjt.r
'orlP plordpp,ov.,lorPB
Tr"B,rr\ " cp..rr./B.y.B,. Pere. Feeb4 d\onl
ri Tri, Bonr, ,," Fprred h.1, ,,p ,r of r,F v,np o, bd,erquariry ind rhe rcpr,..mcnr ol rhis.apfal n donc at.ondrhons
ev€ry Bondhold€r in the manner provided in the Bond Trust
Every Bondholder ol the Bank and/or thc lcgal .epresentativeof any dcceased Bordholder.
lolhrdudnoror"udrro^rort\prim bFirEoil'-B"l
To thc Trustee when the meeting is convened by the Banl.
The accid€ntal omission to give notice to, or thc non receipt of noticeby, any Bondholdef or other person to whom itshould be given shallnor invahtah the proceedinEs at tle m€eting.
i) Tn€re shall be annercd to the notice oI rne m€eting a statcmentsettinS our all material fa.ts concerning each such item of business,
The Trlstee o. the Bank nay, at any time, and the Trustee shatl ar therequest in writing oI the hold€(s) ol Bonds representinS not les thanone- tenth in valle of the rominal amount oi the Bon.ls for rhe rimcbcing outstanding, convene a meerinS oI rhc Bon.lhotders. Any su.hmccting shalt be held atsuch place in th€ city wherc the Cenrral Ofticeoi the Bank is situat€.i oi at such other plac€ as thc Trustee shall
A heeting oI rne Bondholde$ may be called by gn,ing not Iess rhantwenty one days notice in wiiting. However a meering may be calledafr€r 8ivln8 shorter notice than rhat specilied herein above, iI consentis accorded thereto in writin8 or by clect onic mode by Bondholde6hoiding not less than 95% oI the Bonds for ihe timc being outstandinE.
Every notice oI a me€tin8 shau spe.ify the place and day and hour ofthe mc.ting and shall .ont in a statemenr of th€ blsiness to bc
Noriceoleveiy meetingshall be given toi
including in parri.ulai rhe narure ot rhe concern or inte.esr, if any,thereinoIevery Dircctorand the Mamger, if any Provide.l that whereany item oI business as aforesai<1 to be tranected at a meeting ot ureBondholders relates to, or affers, uy orher Ba , th€ eatent ofshareholding interest in that Bank of cvery Dir€dor, and the MamSer,it anl, oI the lirst frentioned Banl slntt also be set our in the statemenril the extent of sucn shafeholding interest is not less dran rwenty pe.cent ol ihe paid up share capital of tlur other Bant.
(ii) Wrere any item of business relares to the approval of any.locuncnt bv the mcctin& the rimc and plac€ where the documentcanbeinsp{ted shall bespccified in the sratement aforcsard
I'.ovid€d thatwhere the noricc of a meering is gn€n by a.lvc{ising thesamc in a n€wspap$ .irculating in the ptace where the Central O(ice01 thc BanL is situated, the sraremcnt oI mar€rial facts need not beannercd to the norice as requhed by that s€dion but t shall bem€ntioncd in the adv€rtiscftent rlut the sratement has bccn fo.warded
(i) lire Bondholde6, pe,sonally lrcsent shalr be thc quorum forthe mccting ol the Bondholders and the provisions oi iollowing sub-dausc (ii) shall apply with .€sped rheicto.
(ii) It within half an hou.lrom the tine appoinred ior hotding ameeting of the Bondholders, a quorum is not present, the meeting/ iIcalled lpon the r€quisition oI the Bondholders snal srand dissotvedbut in .ny other case the heeting shall srand adjourned to rhe sameday in the next weeL at the sam€ tnne and place, or to such other da),and at such oth€r time and place as the Trlst€e my derermine and iIat the a.tjourned meeting also a quorum ls not present within hatf anhour from the time aplointed for holding the me€ting, theBondholdcrs ples€nt shall bc the quorun.
Chairman of the meethg
(i) The nomince of the Trustee shall b€ thc Chairman or themeeting and in his absence the Bondholdes pe6onauy pr€senr at themeetingshall eiect one oI the Bondholders as the Chairman thereof by
8.
(ii) lra poll is demandcd on the eledion ol the chairman, ir shatl betaken forthwith, and the Chanman el{red on a show 01 handsex€rising (for the time b€in8) all the powe6 of rhc Chanman under
(iii) Il some othe. person is electcd Ciairman as a result of the poll,he shallbe Chairman for the rest of rhe meeting.
11.
9. Truste€s, dir€tors et ., may b€ present
The Tidstee and rhe Dir(tors ol rhe Bank and thei. resp{riv€Solicirors m.y attend any meeiing but shall not be entftled as such to
Chairnan s Dcclaration to b€ Conclueive
(i) AtaDy meeting, aresolution puttothe vote of the meeting shallbe decid€d on a show oI hands unlcss a potl is demanded in themamer hereinaltei mention€d, and unless a poll is so demanded, a
.leclaration by rn€ Chanman thar on a show of hands the resolurionh.s or has not been car.ied eith€r unanimously or by a pa.ticularmajority an.l an enhy to drat e{cct in the books containing the minuresof the proceedings of the meetin8, shall be.onclusive evidencc of rhefact, wilhout proof of the number or pioportion of the vor.s cast infavour of or ag.instsuch resolution.
(i) Belore or on the d{laradoD oi the rcsult on voting on anyiesolution on a show oI hands, a poll may bc oldered to be raken bythc Chairman ol th€ mcctjng ofhis own notion, an{i shatt b€ ord€redto be taken b)' him on a demand made in that behalf b), at Ieasr liveBon'jholdeF or by holder(, of Bonds representing not tess than one-tenth oI the nominal ahount oI rhe Bonds for the rime beingou ts tand ing, whi.hev e. is less, present in p e6on o. by proxy.
(ii) A poil dcmanded on a question 01 adjounmenr sh. be rahen
(ii) A poll demand€d on any other question (nor being a questionreb$rg to the clcction of a Chanman) shall be taken ar such tine norbeing late. than forq'-ei8ht houls fron the rime when the demand washJJe, as thecha,rni;nav dn{r.
12 Rights ofBond holde(s):
(i) The.egister€d Bondhotder or in case orjoint - holders, rhe oneshos€ name stands Ji.st in thc register of Bondholderr shall be€ntitlcd to vor€ in respcctolsuch BondG), cither in pereon oi by prox],,at any mccting oI rhe concerned Bondholders and every such hotdershall be entitled to one vote on a show oI nands, blt on a poll he shalbe cntitled to one vote in resptrr of every Aond of which he is a hol.lerin rcspect ol which he is cntitled to vote.
(') Any Bondholde. entitl€d to .ttend and vote at the heeting snalentitled to aploint another pdson (whether a Bondholder or not)hisp.oxy to aftend and vote insr€ad of himself.
(iii) In cvuy notice calling the fteetinE there shall appear witheasonable prominence a staremenr that a Bondholder entitled toattend and vote is entitled to appoint one or more prories/ to attendand vote instead of hinEell aM rhat a proxy need not bc a
(iv) The instrument alpointing a proxy and the powe. of attorney(iI any) under which it is signed o! a notarially certiiied copy oI thepower of attorney snall be dcposited at the Regisr€red Office of theBank not lcss than forty-eight hours belofe the time for holding theDE€ting or adjourned meering at which the pereon named in thernstrunent Pfoposes to voic o! in case of a poll, not less than twenry-to!. hou.s before the tinc appointed for the iaking of the polt and indclault, the instrument oI pror! shall not be treared as valid.
(v) Ihc,hhumcntappoinr.S.,pro\j shaii:
(a) bc inwriting;and
(b) be signed by the appoinrer or his attomey dulyauthorised in wridrg, or if the appointer is a body.orPorate, be under its seal or be signe<] by an ofiicer oran atrorney duly autho.ised by it.
(vi) The ituhumenr appointing a p.oxy shall be in any of thep.csc.ibed by the central Sovernment f|om time ro time and shall notbe question€d on the ground that it fails 10 comply with any sp*ial
14.
1.1.
requiremenis specjfie.l Io. such iretrumenrs by the Statc Bank of In.lia
(vii) Every Bondholder entitl€d to vote at a meeting of theBondhold€rs ol the Ban! on any r€solution ro be move.l rhcrcat shallbe entitled durnrg the period bcSinning twenty lour hours belore thetime Iilcd lor the commencem€nt of the meeting and ending $ith theconclusion of rhe meeting to insp*t the proxi€s lodSed, ar any time.luing the trusin€ss houE of thc Bank, provided not less than tlneedays notice in writing of the intention so to inspe.t is Eiven to the
(viit A vote Siven in a.cordance with the rerm 01 an rnstrumenr orproxy shall be valid notwithstanding the previous {ieath or incapacityoi thc principal or the revocation of the prory or oI the authoity underwhich the proxy was executed or the transfer oI the Bond in respect oIwhich the P.oxy is given Provided that no intimation in writinS oIsuch death, in.alacity, rero.ation or hanslershall have been receivedby the Bank at thc Ccnhal Ofiice b€lore th€ comencement of rh€
meetnrg o! adjounred meeting at whjch th€ proxt is used.
right to use vote differently
On a poll takcn at any meting oi the Bordholders a Bondholderentitled to more than one vote or his proxy orotherperson entitled tovote for him, as the case may be Deed not ifhevotes, lsc allhis votesor cast in the sane way all the votes he uses.
(ii) The Chanman shall have power atany time before the result ofthe poll is d€clared, to renove a scrutineer from office and to fillvacancies in the olfic€ of scrutineer a.ising from such .emoral o. from
(iii) OI the h{o scrutineeB apponrbd un l€r rhis Clause, one shallalways bc a Bondholder (not being an officer or employee of the Bank)
(i) when a poll is to be taken, the Chairman of thc meeting shallappoint lwos.rutineers to scrutinis€ the votes givcn on the polland to
'qilr:.)iI \ii2
:gl
27
20.
i9.
18.
17.
15.
pres€nr at the meetin& provi<le<] sucn a Bondholder is available andwiUing to be appointed.
Mann€r of takingpoll and resulrthereof
(i) The chanman 01 the meetinS shall have power ro r€gulate themamer inwhich. pollshall be taken.
(ii) lhe .csult ol the poll shall be decncd to be the decision ol therp-dn8or rhpr-..rrlo1on,!ni I' rhppo wd\r"lc
ln the c.se ol joint Bondhol.terr the vote of the senio. i.e. th€ firsthol.ter who tcnders a vote, whether in person or by p.oxt shall beaccepEd ro the erclusion of the oth€r joint holder or holdere.
The Chairman of a meeting of the Bondholders my, with the consentol the metin& adjourn ure saDre fiom timc to time and iroh place toplace, blt no business shall be trasa.tcd at any adjourned neeringoth€r th.n thc business left unlinish€.t at thc mecting lrom wlich th€adjournment rook place.
In the cas€ of €guality oi votcs, u'hcther on a show of hands, or on a
pou, the Chaiman of th€ Dreeting at which the show of hands tak€splaceorat wnich ur€ poll is.iemanded, shall bc cntitled toa second o!c.sting vote in addition to the vote or votes to which he may be
cntitled to as a Bondholder.
The dcmand oI a poll shall not pr€vent the continuance of a meetingfo. the transa.tion oI any business orher than the question on which a
pollhas been demnded.
The Chai.man ofany heetnrg snal be the solejudge ofthe validity of€veiy votc tcndcrcd at such meeting. The Cnairman pres€nr ar theraking of a poll shall be the sole judge of tne validity oI every vote
A neeting of the Bondholdes shall, inter alia, have the followingpowers exercisable in thc manner hereinalter sp{ilied in Claus€ 22
(i) Power to sandion any compromise or arangenent p.oposed tobe nade betwecn the Eanl and the Bondholdere.
(ii) Powef to san tion any nodificarioo alrerarion or abrogation ofany of the riShts of the Bondholders against the Sant whethc. suchrightshall arise !nde. this Deed o. Bonds or orherwisF
(iit Power to ass€nt toany modilication ot the prov isions con tainedin this Deed and to au thorise rhe T.us tee to concuf in and execlte anysupplcmental Decd in r€lation ro this Deed, embodying any such
24.
23.
22.
(iv) Power to refrove the e\ieting Trusree and to appoinr neh,Trlstcc in relation to this D€ed an.l in resp€ct ot the Bonds.
(v) Power to giv€ any dircctioo sandion, .equesr oi approvalnhich under any p.ovision of rhis D€€d is requncd to b€ given by a
The poweis set oul in Clausc 21 hereofshall bc crer.isable by a Sp{ialResolution passed atameetingol tne Bondholdcrs duty conven€d andheld in accordance wirl provisiom her€nr contained and carried by amajority consisting of nor less than dreejourrhs ol the persons vorinSth€reat upon a show ol han.ls or il a poll G demanded by a najorityrcPresenting not less than three iourths in value or the rotes casr onsuch poll. Such a Resolution shall be referred to as Spe.ial
A Resolution, passcd at a generat meeting of the Bondhol.tes dutyconvened and held in accordan.e with thes€ presenrs shall be bindinguponall the Bondholdcrs, whedrer licscnr o. not ar su.h meerin& andea.h of the Bondholdcrs shall be bound to give etfcct theetoaccor.linSly/ and the passing oI any such rcsolutioru shatl becon lusive eddence that the circunsrances justify the pa$ing the.eol,thc intention being that it shall rcst with the meeting to d€terminewithoutappeal whether or not thc cncuhstaNes justity rhe pasing of
MnruEs of all Resolutions and prdeedings at every such mecting asaJoresaid shall bemdeand duly €ntered into bookslrom rrme to nneprovided for the purpose by the Trustee at the expenses of the B.nkand any such minutes as aforesaid, if purported to b€ siSned by theChairman of the meeting at which such Resolutions were passed orp.cee<ling held or by the chairman of the adjolrned tueeting shal beconclusive evidence of the matters therein contahed and unrit the
!?
conhary ir prded 4ery such neeting in ruper of the pro.eedings ofwhi.h miNts have ten frde shall t'€ d€€med to lEve been dulyheld ard cdvded dd all solutids palsed thdet 6 proedinSstalerr to tEve been ddy pased dd taker
NotwitlEtanding dt.tlling h@in Mtaine4 t shdl be corlPetmr ro.I the Bondholds to exercis the righq powers and authoritieB ofthe Bondholde$ udd this Deed by a lener or lettd si8red by or onbehar of the Dondholdds or eletronicrlly without Mvedng ameting of the Bondholders 6 if su.h letter or leners htentidlecod€d eletronicaly coDtituted a lesolution or a speciat solutiorras the .@ @y be, pased at a neeting duly convened dd held asaforeraid ed shaU have efrect aeordingly.
'wffO"i
$wg " .<{sir2
SCHEDULE.IV
FONMAT OI DEED O! ACCESSION
THIS DEED OF ACCESSION ("Deed") is mde on
hl, having its registered ofiice at [.] (hcreinaJter .elened ro as "su..essorTrustee", which €xpre$ion shall, udess it b€ relugnant to the subjtrt orcontext thereot include each such pereon's succesoE, heirg adminisbatoF?c rJ(o.. e{drp iFEd -epr.\cntur.\ e. drd ?or d*i8n\,j
THI< DllD 15 SUPILIMI\TA| to hc BolJ lrus( Deed ddieo(in its capacity Trust€e) and state
Bank of India (th€ "Iss!er")AND WITNISSES as follows:
1. 'fheSuccessorTrustee her€by conlnms that ithas been supplied with a
copy of the Bond T.ust Deed and all other Transaction Do.uhents (as
vaned by the Pa.ties thereto) an.t heieby .ovenants with the Issuerand the Bondholde(t to obsens perforn and bc boln.l by all theterms rhereof which are.apable 01 applying to the Trlstee under theTraruaction Do.uments.
2. The Suc.essor Trustee shalt be de.med to be the Trust€e in relation tothe Bonds of rhe Issuer on and from the date of this Deed and shallalso be deem€d to be a Partt to th. Bond Trust Deed and otherTransadion Ddu'nents (as appli.able) iron such dare.
3. llis Deed shall be sov€med inallreso€ctsbv the Iaws ollndia.
4. Capitalised terms used bur nor delined herein shall have the heaningasc.ibed to them in the Bond Trust De€d.
5. Address loi noticc to the new Trustee for the purpose of Section 33 oftne Bond T.!st Dccd shali be:
IN ltalTNESS '{HER!O!
the authorised si8natory of the Suc.essor Trusteenave caused these presents to be ereuted bl' then authorised officer the dayand yca.Iirst hereinabove written in the mamer nereinafter allearinS:
\ o*\tLt",,t
signed by I.lNaft:
DerigMlion: L-l(in it6 epaciry 6 the SuGsor Trushe)
ACKNOWUDGED AND CONHRMED BYI
SIATE BANK OF INDIA, in its @pacity a the Isus,
though its authdized sigtutory
I"aw ol r\e $isnng Ttustel, i,n its capacity d the qisting Trutee,
thlough ib authdiad signatory
)
qEeS
w7" \<ecLz
IN WITNES6 WHEREOI th€ Tr6te aid the lsu6 hav€ @ued the€e
premts md the duplicate thereof to te execule.l by their authoibed ofndal@ the day, rcnth dd yed ftsi abde uitten as h@inbefore appoirlng.
SIGNED AND DELIVERED fd and onbehal of STATE BANK OB INDLc, bythe h6d of its authdiad offfciar 1{t.s.s.A. Kahi.
ft,
SIGNED AND DELnTERBD for dd dbehalf of IDBI TRUSTBBSIIESERVICBS LIMITBD, the withhn aed.Truslee, by thq bnd ofr,{i/M&
r rD ncfts!,, lttftrs u!.
flHP,*,*^*
ANNE(URT
(Copy of palMt of sta4p duq paid againsr bond ise)
