CISCO SYSTEMS CAPITAL (INDIA) PRIVATE LIMITED

Cisco Systems Capital (India) Private Limited, a Non-Banking Finance Company registered with Reserve Bank of India ("RBI") is in the business of providing different types of loans/leases for the IT assets to its customers which are Companies and other Corporate/Legal entities.

Cisco Systems Capital (India) Private Limited ("the Company"), through its Board of Directors (the "Board"), has framed and adopted a voluntary code, which sets the principles for fair practice standards when dealing with its customers in business transactions. This code follows the Reserve Bank of India's circulars as follows:

• Revised Master Circular no. DNBS(PD)CC No. 153/03.10.042/2009-10 dated July 01, 2009
• Circular DNBS (PD) CC No. 133 / 03.10.001 / 2008-09) and DNBS (PD) CC No. 139 / 03.10.001 / 2008-09 dated April 24, 2009; and
• Other applicable guidelines, notifications, circulars (if any) on rate of interest issued by RBI and/or any other regulatory authority from time to time for Non-Banking financial Companies (NBFCs)

The Company's business shall be conducted in accordance with prevailing statutes and regulations, with due focus on efficiency, customer-orientation and corporate governance principles.

Objective & Commitment

The Company shall act and continually improve upon:

• Following standards for fair and transparent business practices while dealing with its customers
• Acting fairly and reasonably in all dealing with its customers
• Making sure that the Company's offerings and services meet relevant laws and regulations
• Publishing this code on the Company's website and ensure that the published contents are not misleading
• Informing customers of the information required from them to establish customer's true identity and ask for documents to comply with prevailing statutory and regulatory "Know-Your-Customer" and Anti-Money Laundering guidelines and other legal & regulatory requirements as may be required by the RBI and other government agencies.
• Providing clear information to its customers about its various products and services, the terms and conditions on which these are offered by the Company, including the interest rates, charges, repayment terms, etc.
• Keeping customers informed of its right to be informed about:
  • their account with the company and the facilities extended to them by the company;
  • changes in its interest rates and charges through individual communication or public announcement as appropriate;
• Keeping the information received from its customers as confidential and not disclosing the information to others except when:
  • Required by law or by a judicial, quasi-judicial or regulatory authority;
  • obligated by government or authorities to disclose in the public interest; or
  • the Company's interest require disclosure; or
  • the customer has consented to or asked for such disclosure

Applicability

This code shall apply to the Company's employees and its duly authorized representatives.

Application for Loan and their processing

• The Company will provide to Customers the necessary information such as the applicable interest rate, processing fees or charges if any, prepayment option and charges if any, so that Customer can make a meaningful comparison with the terms and conditions offered by other NBFCs and later take an informed decision.
• The above information shall be stated in the loan application forms of the Company.
• The loan application form may also indicate the documents required to be submitted with the application form.
• The Company shall devise a system of acknowledging the receipt of loan applications and will inform the time needed to give a decision.

Loan Appraisal and Term/Conditions

• The Company shall convey in writing to the customer by means of approval letter or otherwise, The annualized rate of interest and method for the calculation of the same shall also be provided in such approvals - along with terms and conditions. All the terms and conditions will be fair and will set out customer's rights and responsibilities clearly and in plain language. Company will only use legal or technical language where necessary.

Disbursement of Loan including Changes in Terms and Conditions

• The Company shall notify in writing all its Customers of any change in the terms and conditions including disbursement schedule, interest rates, service charges, pre-payment charges etc. before the change/s are implemented.
• The Company shall also ensure that the change in interest rates and charges shall only be effective prospectively. A suitable provision in this regard shall be incorporated in the applicable loan agreement.
• In cases of default in the loan agreement, the Company's decision to terminate the loan or accelerate payment or performance under the loan agreement shall be in accordance with its terms.
• The Company shall release all securities on repayment of all monies due or on realization of the outstanding amount of loan subject to any legitimate right or lien for any other claim the Company may have against its customer. If the Company exercises any right of set off against the defaulting customer, the Company shall notify the latter with the particulars of the remaining claims and the conditions under which the Company is entitled to retain the securities until all the relevant claims are settled /paid.

General

• The Company shall refrain from interference in the affairs of the customer except for the purpose provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the customer, has come to the notice of the company).
• The Company will process request from the customer for transfer of borrowal account, the consent or otherwise - i.e. objection of the Company, if any shall be conveyed to the customer within 21 days from the date of receipt of any such request. Such transfer shall be as per transparent contractual terms in consonance with law.

Customer Grievance

• Any grievance with regard to this Code, shall be intimated to Grievance Redressal Forum comprising Amit Mehra (Credit Manager) Carol Lim (Operations Manager) and Mario Renato Navas (Director). The said forum will setup a meeting within a period of six weeks from the date of receiving any grievance intimation and ensure that all disputes arising out of the decisions of lending by the Company's functionaries are suitably heard and disposed of at least at the next higher level. The Reports will be sent to the Board of Directors for their information and any action if required.

Any complaint against the company is to be addressed as follows:

By letter: Mr.Amit Mehra (Credit Manager), Cisco Systems Capital (India) Private Limited, 7th & 8th Floor, East Tower, 25 Barakhamba Road, New Delhi - 110 001

By email: capital-india@cisco.com

Wide Dissemination and Periodic Review

• The Company shall put the above Fair Practices Code on its web site, for the information of various stakeholders. The Company shall also review and refine this Code, as may be required periodically - based on its own experience and fresh guidelines, if any, to be issued by the RBI in this regard.