Exhibit 10.8.4.3
March 26, 2013
TV18 Home Shopping Network Ltd
503, 504 & 507, 5th Floor
Mercantile House
15, Kasturba Gandhi Marg
New Delhi - 110001
Sub: Release of Personal Guarantee of Mr. Raghav Bahl
Dear Sir,
This is with reference to sanction letter ref. no. CAD/MUM/0025/2012-13 dated April 23, 2012 wherein we had sanctioned working capital limits of Rs. 40 Crore to your company. One of the security conditions for the said credit facilities was Unconditional and Irrevocable Personal Guarantee of Mr. Raghav Bahl, which the company had provided along with other documents.
Further, through our addendum sanction letter ref. no. CAD/DEL/0019/2012-13 dated Nov 2, 2012, we had waived the condition of Personal Guarantee of Mr. Raghav Bahl. In line with this, we hereby confirm that the Personal Guarantee of Mr. Raghav Bahl hereby stands nullified and is no longer valid.
Please note that all other terms and conditions of the credit facilities remain unchanged.
Thanking You, |
For The Ratnakar Bank Limited |
/s/ LOKESH GARG |
Authorized Signatory |
www.ratnakarbank.co.in
The Ratnakar Bank Limited
Connaught Place Branch
Ground Floor, Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi. | Telephone: +91 11 49365500
Registered Office
1st Lane, Shahupuri, Kolhapur - 416001. Maharashtra, India. | Tel.: +91 231 2653006 | Fax : +91 231 2653658