Scribd Logo
Upload

Welcome to Scribd!

  • 0 views

    REVISED_RUSSIA_DECLARATION

    Uploaded by

    Aishwarya Shankar
    FEMA

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    REVISED_RUSSIA_DECLARATION

    Uploaded by

    Aishwarya Shankar
    0 views4 pages
    FEMA

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    FEMA

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    0 views4 pages

    REVISED_RUSSIA_DECLARATION

    Uploaded by

    Aishwarya Shankar
    FEMA

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 4

    UNDERTAKING CUM DECLARATION

    To,

    ICICI Bank Limited


    Panchsheel Park,
    New Delhi- 110017

    Dear Sirs,

    Sub: Undertaking cum declaration by COMMERCIAL CONSULTANCY


    COUNSEL, a customer incorporated under the laws of India with its
    registered office/address at FF-27 FIRST FLOOR OMAXE SQUARE
    JASOLA COMMERCIAL COMPLEX NEW DELHI 110025 IN, in favour of
    ICICI Bank Limited (“Bank”) for processing of transaction involving
    Russia / Ukraine

    1. We have requested the Bank to process “Proposed Transaction”, eg.


    Inward remittance for Legal services.

    2. We hereby confirms / undertakes to be responsible for rejection / return /


    blockage of the proposed transaction by other banks or institutions involved
    in the proposed transaction which are beyond control of the Bank and agrees
    unconditionally to bear all costs, expenses, losses and liabilities incurred by
    the Bank in relation thereto.

    3. In consideration of the Bank processing the proposed transaction at our


    request, we hereby agree to indemnify and hold harmless the Bank, its
    directors, employees and agents to the fullest extent permitted by applicable
    laws for all costs, expenses, losses and liabilities incurred by the Bank
    (including without limitation third party claims and attorney costs of the
    Bank), in relation to processing the proposed transaction, whether or not
    such costs expenses, losses and liabilities have arisen as result of any fault of
    or breach of any contractual terms by us.

    4. We hereby agree to extend all co-operation required by the Bank in


    connection with the processing of the proposed transaction, including without
    limitation providing
    such information and documentation as may be required by the Bank, any
    correspondent or other bank/institution involved in the proposed transaction,
    or governmental authorities of any applicable jurisdiction in this regard.

    5. The Borrower hereby agrees and confirms that any breach of the terms and
    conditions stipulated herein above, shall constitute an event of default under
    the facility agreement entered into between Company and the Bank*
    *This is not applicable if the client is not a borrower and facility agreement is
    not involved.

    6. This undertaking cum declaration and any non-contractual obligations arising


    out of or in connection therewith are governed by Indian law and shall be
    subject to the non-exclusive jurisdiction of courts at Mumbai.

    7. “We hereby confirm that the transaction is not for, or behalf of any person designated by
    OFAC as well as any person operating or having operated in the technology, defense and related
    material, construction, aerospace or manufacturing and other identified sectors of the Russian
    Federation economy. It is to further confirm that the transaction does not directly or indirectly
    involve Russia’s military-industrial base including any sale, supply, or transfer of any
    goods/service/technology.”

    SIGNED for and on behalf of

    COMMERCIAL CONSULTANCY COUNSEL

    JAI SHANKAR
    PARTNER

    You might also like