BANKS GUARANTEE NO:

DATE:
To
SoCtronics Technologies Pvt.Ltd.
Plot No.89&90, 8-2-120/76/115
Road No.2, Banjara Hills
Hyderabad 500 034, India
Dear Sir,
Whereas SoCtronics Technologies Pvt. Ltd. (hereinafter referred to as SoCtronics
Technologies) having its registered office at Plot No.89&90, 8-2-120/76/115,Road No.2, Banjara
Hills, Hyderabad 500 034, India, has agreed to impart on the job training of specialized
knowledge in Information Technology with specialized focus to Mr Kusetty Venkata Sreenivasulu
S/O Kusetty Thimmaiah resident of Bhumayapalli, Mydukur mandal and;
Now, We Bank State Bank Of India having its registered office at Mumbai , and for the purpose
of this guarantee acting through its branch situated at Mydukur , through this Bank Guarantee
given by us at the request of the Employee in favor of SoCtronics, bind ourselves
unconditionally and irrevocably guarantee and undertake that shall forthwith, upon receipt of
written intimation/demand/letter/claim from SoCtronics, pay to SoCtronics a sum of
Rs.1,50,000/- (Rupees one lakh and fifty thousand only) without any deduction, reservation,
protest, demur, delay or reference to the Employee and irrespective of and notwithstanding
any dispute or demand to the contrary made by the Employee. Any such demand for payment
of the said guaranteed sum made by SoCtronics on the Bank shall be conclusive and binding
notwithstanding any difference between SoCtronics and the Employee or any dispute pending
before any court, Tribunal, Arbitrator or any other authority or any instructions or letter
contrarily issued by the employee. We agree that the guarantee herein contained shall be
irrevocable and shall in force and enforceable till it is specifically discharged by SoCtronics by
issuance of a letter/certificate to such effect or till its expiry, i.e. upto 15 th December,2018,
whichever is earlier. No periodic renewal by the Bank shall be necessary.
2. SoCtronics shall have the fullest liberty from time to time without in any way of affecting our
obligation under this Guarantee, to extend the time for completion of the training by the
Employee, in which case Expiry date will be accordingly extended on request of the employee.

SoCtronics shall have the fullest liberty without affecting this Guarantee to exercise any right or
power which they might have against the Employee and to seek compliance with any
covenants contained or implied in the training agreement made between SoCtronics and the
Employee. We agree that irrespective of such extension of time or variation in the training
agreement, our liability to pay the aforesaid amount of Rs.1,50,000/- (Rupees one lakh and fifty
thousand only) without demur, objection, protest or set-off shall remain unaltered, enforceable
and valid till 15th December,2018.
3. The Guarantee shall not be discharged due to any change in constitution of the Bank or
SoCtronics Technologies Pvt.Ltd.
4. The Bank further agrees that SoCtronics, at its option, shall be entitled to enforce the
Guarantee against the Bank, without in the first instance proceeding against the Employee or
making any demand upon the Employee to pay, and notwithstanding any security or other
Guarantee that SoCtronics may be possessed of in relation to Employees liabilities either in
relation to this agreement or otherwise and the Banks liability to make unconditional payment
on demand by SoCtronics shall not be affected or diluted and shall remain valid, enforceable
and unaltered.
5. That the Bank cannot and will not revoke this Guarantee during the period of its validity, i.e.
till its Expiry Date or till SoCtronics discharges the Bank in writing, whichever is earlier,
notwithstanding any dispute or difference between the Employee and the Bank and our
bankers lien either general or particular in relation to the Employee shall not include the
amount guaranteed to SoCtronics under this Guarantee. However our liability under this
guarantee is restricted to Rs.1,50,000/- (Rupees one lakh and fifty thousand only)
6. The Guarantee shall be governed by and constructed in accordance with the laws of India.
7. We confirm that the undersigned has the requisite authority to execute this Guarantee for
and on behalf of the Bank and that any defect/infirmity in the authority of the undersigned will
not in any way reduce of affect any of our obligations under this Guarantee.
Executed this 15th day of December, 2018 at Hyderabad
Notwithstanding anything contained hereinabove our liability under this Bank Guarantee shall
not exceed to Rs. 1,50,000/- (Rupees one lakh and fifty thousand only).This Bank Guarantee
shall be valid 15-12-2018 and we are liable to pay the guaranteed amount or any part thereof
under this bank guarantee only and only if you serve upon us a written claim or demand on or
before 15-12-2018
All Claims under this Guarantee shall be payable at Hyderabad.
This Guarantee will be returned to us as soon as the purpose for which it is issued is fulfilled
Bank Guarantee confirmation No.GTEE/_________ is an integral part of Bank Guarantee No.
_______________ dated ___________