Common use of Closure of the Escrow Accounts, Public Issue Account and Refund Account Clause in Contracts

Closure of the Escrow Accounts, Public Issue Account and Refund Account. (i) The Escrow Collection Bank shall, upon receipt of instructions from the Company, the BRLM and the Registrar to the Issue, take necessary steps to ensure closure of the Escrow Accounts only upon transfer of all monies into the Public Issue Account or the Refund Account, as the case may be, in accordance with the terms of this Agreement and Applicable Law. The Public Issue Account Bank shall take the necessary steps to ensure closure of the Public Issue Account promptly and only after the Estimated Issue Expenses have been paid and all monies in the Public Issue Account are transferred in accordance with the terms of this Agreement and upon receipt of account closure letter from the Company, the BRLM and the Registrar to the Issue. The Refund Bank shall take the necessary steps to ensure closure of the Refund Account, once all amounts are refunded to the Bidders to whom refunds are required to be made, in accordance with the terms of this Agreement and upon receipt of account closure letter from the Company, the BRLM and the Registrar to the Issue. However, subject to Applicable Law, any amount which is due for refund but remains unpaid or unclaimed for a period of seven (7) years from the date of such payment becoming first due, shall be transferred by the Refund Bank, after intimation to and confirmation from the Company, to the “Investor Education and Protection Fund” established under Section 125 of the Companies Act, 2013. (ii) The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank agree that prior to closure of the Escrow Accounts, the Public Issue Account and the Refund Account, respectively, they shall intimate the Company and the BRLM that there is no balance in the Escrow Accounts, the Public Issue Account and the Refund Account, respectively and shall provide a signed copy of the complete and accurate statement of accounts to the Company, the Registrar to the Issue and the BRLM in relation to deposit and transfer of funds from each of the Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank also agree that they shall close the respective accounts only upon receipt of instructions in this regard from the Company, the Registrar to the Issue and the BRLM. (iii) Within three (3) Working Days of closure of the Escrow Accounts, the Public Issue Account and the Refund Account, the Escrow Collection Bank, the Public issue Account Bank and the Refund Bank, respectively shall provide confirmation of the closure of such accounts to the BRLM and the Company.

Closure of the Escrow Accounts, Public Issue Account and Refund Account. (i) The Escrow Collection Bank shall, upon Upon receipt of instructions from the Company, Book Running Lead Manager and/or the BRLM and Registrar, as the Registrar to case may be, the Issue, Escrow Collection Bank shall take necessary steps to ensure closure of the Escrow Accounts only upon transfer of once all monies therein are transferred into the Public Issue Account Account, or the Refund Account, as the case may be, in accordance with and not later than six months from the terms date of this Agreement and Applicable Lawopening of such Escrow Accounts. The Upon receipt of instructions from the Company, Book Running Lead Manager and/or the Registrar, the Public Issue Account Bank shall take the steps necessary steps to ensure closure of the Public Issue Account promptly and only after the Estimated Issue Expenses have been paid and all monies in the Public Issue Account are transferred to the accounts of the Company or the Surplus Amounts are transferred to the Refund Account, in accordance with the terms of this Agreement and upon Agreement. Upon receipt of account closure letter instructions from the Company, Book Running Lead Manager and/or the BRLM and Registrar, the Registrar to the Issue. The Refund Bank shall take the necessary steps to ensure closure of the Refund Account, once all Surplus Amounts or other amounts pursuant to Clause 3.2.1 or Clause 3.2.2, if any, are refunded to the Bidders to whom refunds are required to be made, in accordance with the terms of this Agreement and Agreement. Upon closure of the Escrow Accounts, the Public Issue Account or the Refund Account, as the case may be, the Escrow Collection Bank, the Public Issue Account Bank or the Refund Bank, respectively, shall, upon receipt of account closure letter from request by the Company, provide a confirmation in writing to the BRLM Company and the Registrar Book Running Lead Manager that no monies are lying to the Issuecredit of the Escrow Accounts, the Public Issue Account or the Refund Account. However, subject to Applicable Law, any amount which is due for refund but remains unpaid or unclaimed for a period of seven (7) years from the date of such payment becoming first due, shall be transferred by the Refund Bank, after intimation to and confirmation without any further instruction from the Companyany Party, to the “fund known as the ‘Investor Education and Protection Fund” ’ established under Section 125 of the Companies Act, 2013. (ii) . The Company shall cooperate with the Bankers to the Issue, as applicable, to ensure such closure of the respective Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank agree that prior to closure of the Escrow Accounts, the Public Issue Account and the Refund Account, respectively, upon request from the Company, they shall intimate the Company and the BRLM Book Running Lead Manager that there is no balance in the Escrow Accounts, the Public Issue Account and the Refund Account, respectively and shall provide a signed copy of the complete and accurate statement of accounts to the Company, Company the Registrar to the Issue and the BRLM Book Running Lead Manager in relation to deposit and transfer of funds from each of the Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank also hereby agree that they shall close the respective accounts only after delivery of such statement of accounts and upon receipt of instructions in this regard from the Company, the Registrar to and/or the Issue and Book Running Lead Manager, as the BRLM. case may be. Within one (iii) Within three (31) Working Days of closure of the Escrow Accounts, the Public Issue Account and the Refund Account, the Escrow Collection Bank, the Public issue Issue Account Bank and the Refund Bank, respectively shall provide a written confirmation of the closure of such accounts to the BRLM Book Running Lead Manager, and the Company.

Closure of the Escrow Accounts, Public Issue Account and Refund Account. (i) The Escrow Collection Bank shall, upon Upon receipt of instructions from the Company, the BRLM and the Registrar to Registrar, as the Issuecase may be, the Escrow Collection Bank shall take necessary steps to ensure closure of the Escrow Accounts only upon transfer of once all monies therein are transferred into the Public Issue Account Account, or the Refund Account, as the case may be, in accordance with and not later than six (6) months from the terms date of this Agreement opening of such Escrow Accounts. Upon receipt of instructions and Applicable Law. The accounts closure letter from the Company, BRLM and the Registrar, the Public Issue Account Bank shall take the steps necessary steps to ensure closure of the Public Issue Account promptly and only after the Estimated Issue Expenses have been paid and all monies in the Public Issue Account are transferred to the accounts of the Company or the Surplus Amounts are transferred to the Refund Account, in accordance with the terms of this Agreement and upon Agreement. Upon receipt of account closure letter instructions from the Company, BRLM and/or the BRLM and Registrar, the Registrar to the Issue. The Refund Bank shall take the necessary steps to ensure closure of the Refund Account, once all Surplus Amounts or other amounts pursuant to Clause 3.2.1 or Clause 3.2.3, if any, are refunded to the Bidders to whom refunds are required to be made, in accordance with the terms of this Agreement and Agreement. Upon closure of the Escrow Accounts, the Public Issue Account or the Refund Account, as the case may be, the Escrow Collection Bank, the Public Issue Account Bank or the Refund Bank, respectively, shall, upon receipt of account closure letter from request by the Company, provide a confirmation in writing to the Company and the BRLM and the Registrar that no monies are lying to the Issuecredit of the Escrow Accounts, the Public Issue Account or the Refund Account. However, subject to Applicable Law, any amount which is due for refund but remains unpaid or unclaimed for a period of seven (7) years from the date of such payment becoming first due, shall be transferred by the Refund Bank, after intimation to and confirmation without any further instruction from the Companyany Party, to the “fund known as the ‘Investor Education and Protection Fund” ’ established under Section 125 of the Companies Act, 2013. (ii) . The Company shall cooperate with the Banker to the Issue to ensure such closure of the respective Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank agree that prior to closure of the Escrow Accounts, the Public Issue Account and the Refund Account, respectively, upon request from the Company, they shall intimate the Company and the BRLM that there is no balance in the Escrow Accounts, the Public Issue Account and the Refund Account, respectively and shall provide a signed copy of the complete and accurate statement of accounts to the Company, the Registrar to the Issue and the BRLM in relation to deposit and transfer of funds from each of the Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank also hereby agree that they shall close the respective accounts only after delivery of such statement of accounts and upon receipt of instructions in this regard from the Company, the Registrar to the Issue and the BRLM. . Within one (iii) Within three (31) Working Days of closure of the Escrow Accounts, the Public Issue Account and the Refund Account, the Escrow Collection Bank, the Public issue Issue Account Bank and the Refund Bank, respectively shall provide a written confirmation of the closure of such accounts to the BRLM BRLM, and the Company.

Closure of the Escrow Accounts, Public Issue Account and Refund Account. (i) The Escrow Collection Bank shall, upon Upon receipt of instructions from the Company, BRLMs and/or the BRLM and Registrar, as the Registrar to case may be, the Issue, Escrow Collection Bank shall take necessary steps to ensure closure of the Escrow Accounts only upon transfer of once all monies therein are transferred into the Public Issue Account Account, or the Refund Account, as the case may be, in accordance with and not later than six months from the terms date of this Agreement opening of such Escrow Accounts. Upon receipt of instructions and Applicable Law. The accounts closure letter from the Company, BRLMs and/or the Registrar, the Public Issue Account Bank shall take the steps necessary steps to ensure closure of the Public Issue Account promptly and only after the Estimated Issue Expenses have been paid and all monies in the Public Issue Account are transferred to the accounts of the Company or the Surplus Amounts are transferred to the Refund Account, in accordance with the terms of this Agreement and upon Agreement. Upon receipt of account closure letter instructions from the Company, BRLMs and/or the BRLM and Registrar, the Registrar to the Issue. The Refund Bank shall take the necessary steps to ensure closure of the Refund Account, once all Surplus Amounts or other amounts pursuant to Clause 3.2.1 or Clause 3.2.2, if any, are refunded to the Bidders to whom refunds are required to be made, in accordance with the terms of this Agreement and Agreement. Upon closure of the Escrow Accounts, the Public Issue Account or the Refund Account, as the case may be, the Escrow Collection Bank, the Public Issue Account Bank or the Refund Bank, respectively, shall, upon receipt of account closure letter from request by the Company, provide a confirmation in writing to the BRLM Company and the Registrar BRLMs that no monies are lying to the Issuecredit of the Escrow Accounts, the Public Issue Account or the Refund Account. However, subject to Applicable Law, any amount which is due for refund but remains unpaid or unclaimed for a period of seven (7) years from the date of such payment becoming first due, shall be transferred by the Refund Bank, after intimation to and confirmation without any further instruction from the Companyany Party, to the “fund known as the ‘Investor Education and Protection Fund” ’ established under Section 125 of the Companies Act, 2013. (ii) . The Company shall cooperate with the Banker to the Issue to ensure such closure of the respective Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank agree that prior to closure of the Escrow Accounts, the Public Issue Account and the Refund Account, respectively, upon request from the Company, they shall intimate the Company and the BRLM BRLMs that there is no balance in the Escrow Accounts, the Public Issue Account and the Refund Account, respectively and shall provide a signed copy of the complete and accurate statement of accounts to the Company, the Registrar to the Issue and the BRLM BRLMs in relation to deposit and transfer of funds from each of the Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank also hereby agree that they shall close the respective accounts only after delivery of such statement of accounts and upon receipt of instructions in this regard from the Company, the Registrar to the Issue and the BRLM. BRLMs. Within five (iii) Within three (35) Working Days of closure of the Escrow Accounts, the Public Issue Account and the Refund Account, the Escrow Collection Bank, the Public issue Issue Account Bank and the Refund Bank, respectively shall provide a written confirmation of the closure of such accounts to the BRLM BRLMs and the Company.

Closure of the Escrow Accounts, Public Issue Account and Refund Account. (i) The Escrow Collection Bank shall, upon Upon receipt of instructions from the Company, Book Running Lead Managers and/or the BRLM and Registrar, as the Registrar to case may be, the Issue, Escrow Collection Bank shall take necessary steps to ensure closure of the Escrow Accounts only upon transfer of once all monies therein are transferred into the Public Issue Account Account, or the Refund Account, as the case may be, in accordance with and not later than six months from the terms date of this Agreement and Applicable Lawopening of such Escrow Accounts. The Upon receipt of instructions from the Company, Book Running Lead Managers and/or the Registrar, the Public Issue Account Bank shall take the steps necessary steps to ensure closure of the Public Issue Account promptly and only after the Estimated Issue Expenses have been paid and all monies in the Public Issue Account are transferred to the accounts of the Company or the Surplus Amounts are transferred to the Refund Account, in accordance with the terms of this Agreement and upon Agreement. Upon receipt of account closure letter instructions from the Company, Book Running Lead Managers and/or the BRLM and Registrar, the Registrar to the Issue. The Refund Bank shall take the necessary steps to ensure closure of the Refund Account, once all Surplus Amounts or other amounts pursuant to Clause 3.2.1 or Clause 3.2.2, if any, are refunded to the Bidders to whom refunds are required to be made, in accordance with the terms of this Agreement and Agreement. Upon closure of the Escrow Accounts, the Public Issue Account or the Refund Account, as the case may be, the Escrow Collection Bank, the Public Issue Account Bank or the Refund Bank, respectively, shall, upon receipt of account closure letter from request by the Company, provide a confirmation in writing to the BRLM Company and the Registrar Book Running Lead Managers that no monies are lying to the Issuecredit of the Escrow Accounts, the Public Issue Account or the Refund Account. However, subject to Applicable Law, any amount which is due for refund but remains unpaid or unclaimed for a period of seven (7) years from the date of such payment becoming first due, shall be transferred by the Refund Bank, after intimation to and confirmation without any further instruction from the Companyany Party, to the “fund known as the ‘Investor Education and Protection Fund” ’ established under Section 125 of the Companies Act, 2013. (ii) . The Company shall cooperate with the Bankers to the Issue, as applicable, to ensure such closure of the respective Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank agree that prior to closure of the Escrow Accounts, the Public Issue Account and the Refund Account, respectively, upon request from the Company, they shall intimate the Company and the BRLM Book Running Lead Managers that there is no balance in the Escrow Accounts, the Public Issue Account and the Refund Account, respectively and shall provide a signed copy of the complete and accurate statement of accounts to the Company, Company the Registrar to the Issue and the BRLM Book Running Lead Managers in relation to deposit and transfer of funds from each of the Escrow Accounts, the Public Issue Account and the Refund Account. The Escrow Collection Bank, the Public Issue Account Bank and the Refund Bank also hereby agree that they shall close the respective accounts only after delivery of such statement of accounts and upon receipt of instructions in this regard from the Company, the Registrar to and/or the Issue and Book Running Lead Managers, as the BRLM. case may be. Within one (iii) Within three (31) Working Days of closure of the Escrow Accounts, the Public Issue Account and the Refund Account, the Escrow Collection Bank, the Public issue Issue Account Bank and the Refund Bank, respectively shall provide a written confirmation of the closure of such accounts to the BRLM Book Running Lead Managers, and the Company.