Bank Guarantee

BANK GUARANTEE FOR ADVANCE PAYMENT M/s. Aireff deTox Incineration Ltd., 07, Vardhaman Industrial Complex, Gokul Nagar, L.B.S. Marg., Thane (W) – 400 601. This deed of Guarantee is made on the __________________________________ by Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 (hereafter referred to as the “BANK” which expression shall unless repugnant to the context or the meaning thereof be deemed to include its successors and assigns) in favour of M/s. Aireff deTox Incineration Ltd., having their Regd. And Head Office at 07, Vardhman Industrial Complex, Gokul Nagar, L.B.S. Marg, Thane (W) – 400 601. (hereinafter referred to as the “COMPANY” which expression shall unless repugnant to the context or the meaning thereof be deemed to include its successors and assigns.) AND whereas ALPHA HELICAL PUMPS PVT. LTD ____________________ a Company incorporated under the Companies Act, 1956 and having its Registered Office at 2/131, Venkittapuram Road, Venkittapuram (P.O), Chinniyampalayam, Coimbatore – 641 014. Tamilnadu, India.(hereinafter referred to as the “CONTRACTOR” / “SUPPLIER”) has approached us to issue this guarantee. AND WHEREAS the Contractor has entered into a contract with the Company for supply of 3 Nos. Alpha Make BDB – 110 Screw Pump along with 3 Sets of Gear Motor and standard accessories (hereinafter referred to as the “CONTRACT”) through P.O. No. SC/STP/PO/02/8-08 dated 05.08.08. UNDER the terms of the Contract, the Contractor is required to furnish to the Company at his own cost a Bank Guarantee for an account of Rs. 23,859/- (Rs. Twenty Three Thousand Eight Hundred and Fifty Nine only) towards advance liability under the provisions of the Contract P.O. No. SC/STP/PO/02/8-08 dated 05.08.08. AND WHEREAS at the request of the Contractor, we the Bank hereby irrevocably undertake to pay the Company on its first written demand stating that the Contractor has failed to meet its obligations under the above contract, any amount up to and not exceeding a sum of Rs. 23,859/-(Rs. Twenty Three Thousand Eight Hundred and Fifty Nine only)

We the bank, undertake to make the payment under this Guarantee against your first written demand, as aforesaid, on us without any demur, objection, or discussion whatsoever and irrespective of any dispute or obligation pending arbitration between the contractor and the Company. This guarantee shall not be impaired or discharged or released by any change in the constitution of the Contractor or of the Bank or of Company (Whether such change is in the constitution or otherwise.) We, the Bank further agree with Company that Company shall have the fullest liberty without our consent and without affecting in any manner our obligations hereunder to vary any of the terms and conditions relating to obligations of the said Contract or to extend time of completion by the Contractor from time to time or to postpone for any time or from time to time any of the powers exercisable any Company against the said Contractor and to forbear or enforce any of the terms and conditions relating obligations of the said Contract and we shall not be relived from our liability by reason of any forbearance, act or omission on the part of Company or any indulgence by Company to the said Contract or by any such matter or thing whatsoever which under the law relating to sureties would but for this provision, have effect of so relieving us. We, the bank, confirm that the guarantee is signed by duly authorized representative on our behalf. We, the Bank, lastly undertake not to revoke this guarantee during its currency except with the consent of Company in writing. UNLESS extended, this guarantee would be valid till ______________ and any claim in writing, must be received by us on or before _______________. This guarantee shall be returned to us when no longer required or expired. Notwithstanding anything contained herein above our liability under the guarantee is restricted to Rs. 23,859/-(Rs. Twenty Three Thousand Eight Hundred and Fifty Nine only) and it shall remain in force till _____________________ Unless a demand or claim is made on us in writing on or before ___________________all your rights herewith shall be forfeited and we shall be relieved and discharged of all our liabilities thereafter.

BANK GUARANTEE (PERFORMANCE)

Letter of Guarantee No. Dated the

day of

THE GUARANTEE is executed at Coimbatore on the _____________ day of ____________________ by Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 (Thereinafter referred to as “The Bank” which expression shall unless expressly executed or repugnant to the context or meaning thereof mean and include its successors and assigns). WHEREAS Balmer Lawrie & Co Ltd., an existing Company within the meaning of the Companies Act, 1956 and having its Registered Office at 21, Netaji Subhas Road, Calcutta-700 001 (hereinafter referred to as “the Company”) issued a Tender being No. TS/IOCL-GR/ENQ/SCREW PUMP dated 03.04.08 (hereinafter referred to as “the said Tender”) for Design, Manufacture, Testing & Supply of 3 Nos. bare Screw Pumps & 3 Sets of Accessories and pursuant (hereto Messrs/Mr. M/s. Alpha Helical Pumps Pvt. Ltd., 2/131, Venkittapuram Road, Venkittapuram (P.O), Chinniyampalayam, Coimbatore – 641 014. Tamilnadu, India. (hereinafter referred to as the “Contractor” which term of expression wherever the context so requires shall mean and include the partners of the Contractor for the time being/his/its heirs executors, administrators, Successors and assigns) has accepted the said Tender and filed its quotation. AND WHEREAS the quotation of the Contractors had been accepted by the Company and in pursuance thereof an Order being No. ETS/U-3/Po/42 dated 29th April’08. hereinafter referred to as “the said Order”) has been placed by the Company on the Contractor for Design, Manufacture, Testing & Supply of 3 Nos. bare Screw Pumps along with 3 sets of accessories. AND WHEREAS under the terms of the said Order the Contractor is required to furnish the Company at their/his/its own costs and expenses a Bank Guarantee for Rs. 16,279/- (Rupees Sixteen Thousand two Hundred and Seventy Nine only) as performance guarantee for the fulfillment of the terms and conditions of the said Tender and terms contained in the said Order which expression shall include all amendments and /or modifications and/or variation thereto. AND WHEREAS the Contractor had agreed to provide to the Company a Bank Guarantee as security for the due performance of their obligations truly and faithfully as hereinbefore mentioned.

NOW THIS GUARANTEE WITNESSETH as follows : 1. In consideration of the aforesaid premises all the request of the Contractor we, Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 the Bankers of the Contractor hereby irrevocably and unconditionally guarantee that the Contractor shall perform fully and faithfully into by and between the Company of the one part and the Contractor of the other part the terms and conditions of the said Tender and said order. 2. We Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 (set out full name of the Bank do hereby undertake to pay to the Company without my deduction whatsoever a sum not exceeding Rs.16,279 (Rs. Sixteen Thousand Two Hundred and Seventy Nine only) without any protest, proof or condition on receipt of a written demand from the Company stating that the amount claimed is due by way of loss and damage caused to or would be caused to or suffered by the Company due to bad workmanship or by reason of breach of any of the terms and conditions of the Agreement, the said Tender and the said Order hereinbefore mentioned. 3. This Guarantee is issued as security against due performance of the obligations of the Contractor or under the Agreement aforesaid and the said Tender and the said Order hereinbefore mentioned and subject to the conditions that our liabilities under this Guarantee is limited to a maximum sum of Rs. 16,279/- (Rupees Sixteen Thousand Two Hundred and Seventy Nine only) or the amount of loss or damage suffered or to be suffered by the Company in its opinion at any period of time, whichever is lower. 4. We Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 further agree that the undertaking herein contained shall remain in full force for a period of 18 (Eighteen only) months from the date of satisfactory execution of the Contract. 5. This Guarantee shall not be affected by any amendment or change in the Agreement or change in the constitution of the Bank and/or the Company and/or the Contractor. 6. We Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 undertake not to revoke this Agreement during its currency except with the previous consent of the Company in writing. 7. All claim under this Guarantee must be presented to us within the time stipulated after which date the Company’s claim/right under this Guarantee shall be forfeited and we Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 shall be released and discharged from all liabilities hereunder. 8. This instrument shall be returned upon its expiry or settlement of claim(s), if any, there under. 9. Notwithstanding anything contained hereinbefore our total liabilities under this guarantee shall not exceed a sum of Rs. 16,279/- (Rupees Sixteen Thousand Two Hundred and Seventy Nine only) and unless a demand or claim in writing under this Guarantee reaches us on or before the ________ day of ______________ (last date of claim) and if no claim is received by us by that date all rights and claims of the Company under this Guarantee shall be forfeited and we Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 shall be released and discharged of all our liabilities under this Guarantee thereafter. 10. We have power to issue this guarantee in your favour under our Memorandum and Articles of Association and the undersigned has full power to execute this Guarantee under the Power of attorney dated the ____________________ day of ____________________ granted to him by the Bank. Place : Coimbatore Date :

The Senior Manager, Central Bank of India, Cross Cut Road Branch, 830, Crosscut Road, Gandhipuram, Coimbatore – 641 012 AHPPL/CB/BG/1408 14th AUGUST ‘08. Dear Sir, Sub : Request for issue of Bank Guarantee against 100% margin (Fixed Deposits). Thank you for the kind courtesy extended to our Finance Manager Mr. R. Haresh Kumar during his recent visit to your Branch. As discussed, we request you to kindly issue us the following Bank Guarantees : Sl. No.

Favouring

1.

M/s. Balmer Lawrie & Co Ltd., Calcutta M/s. Aireff deTox Incineration Ltd., Thane

2.

Period of Guarantee Covered 18 Months

Amount

3 Months

Rs. 23,859/-

Rs. 16, 279/-

We furnish herewith copies of 1. Format of the Bank Guarantees to be issued. 2. Copies of Purchase Order. We also furnish fixed Deposits for an equivalent value of 100% of these Bank Guarantees as a cover against these Guarantees. We also authorize you to mark a lien on these Fixed Deposits. Thanking you, Yours faithfully,

COUNTER GUARANTEE TO BE TAKEN WHERE BANK S.L.T.D/F.D.R./S.D.R/CERTIFICATE IS LODGED

The Branch Manager, Central Bank of India, Cross Cut Road Branch, Coimbatore – 641 012

Dear Sir, In consideration of your having at our request executed a letter of Guarantee to M/s. Aireff deTox Incineration Ltd., Thane as per draft seen and approved by us for Rs. 23,859/- (Rupees Twenty Three Thousand Eight Hundred and Fifty Nine Only) and accepted responsibility thereunder for any loss. Whatsoever. We lodged with you your banks F.D. No. L 0879638 for Rs. 23,859/- duly discharged under lien to you with irrevocable authority to you if any when you are called upon to pay in terms of the guarantee to recover the amount so paid from the said deposit or form any other deposit receipt/cash certificate issued in renewal thereof without any reference to us. In this connection, we agree that an order from M/s. Aireff deTox Incineration Ltd., Thane, Order No SC/STP/PO/02/8-08 dated 05.08.08, other party or parties to the guarantee calling upon you to pay, is sufficient warrant for you for making the payment in accordance therewith and we undertake not to raise any objection or dispute on any payment so mage we declare that we have not encumbered or assigned the said M/s. Aireff deTox Incineration Ltd., Thane or dealt with it any way and we undertake to executed such deeds and instruments as you may require of su at our cost to further secure you. We undertake to procure for you the return or discharge of the letter of guarantee. We agree to pay your commission on Rs. Rs. 23,859/- for 3 Months plus any other charges and service taxes as applicable on it. Place : Coimbatore Date : 19.08.08

COUNTER GUARANTEE TO BE TAKEN WHERE BANK S.L.T.D/F.D.R./S.D.R/CERTIFICATE IS LODGED

The Branch Manager, Central Bank of India, Cross Cut Road Branch, Coimbatore – 641 012

Dear Sir, In consideration of your having at our request executed a letter of Guarantee to Balmer Lawrie & Co. Ltd, Calcutta as per draft seen and approved by us for Rs.16,279/- (Rupees Sixteen Thousand Two Hundred and Seventy Nine Only) and accepted responsibility thereunder for any loss. Whatsoever. We lodged with you your banks F.D. No. L 0879637 for Rs. 16,300/- duly discharged under lien to you with irrevocable authority to you if any when you are called upon to pay in terms of the guarantee to recover the amount so paid from the said deposit or form any other deposit receipt/cash certificate issued in renewal thereof without any reference to us. In this connection, we agree that an order from Balmer Lawrie & Co. Ltd, Calcutta, Order No: ETS/U-3/Po/42 dated 29th April’08 other party or parties to the guarantee calling upon you to pay, is sufficient warrant for you for making the payment in accordance therewith and we undertake not to raise any objection or dispute on any payment so mage we declare that we have not encumbered or assigned the said Balmer Lawrie & Co. Ltd, Calcutta or dealt with it any way and we undertake to executed such deeds and instruments as you may require of su at our cost to further secure you. We undertake to procure for you the return or discharge of the letter of guarantee. We agree to pay your commission on Rs. 16,279/- for 18 Months plus any other charges and service taxes as applicable on it. Place : Coimbatore Date : 19.08.08