-------------------------------------------------- DRAFT FOR ATTORNEY REVIEW ONLY — NOT LEGAL OR FINANCIAL ADVICE This document is a structured preparation draft only. It does not constitute legal advice, financial advice, or tax advice. Applicable money lending licensing requirements, stamp duty obligations, and consumer credit law in Maharashtra India must be confirmed with a qualified attorney before this document is executed or any funds are advanced. -------------------------------------------------- LOAN AGREEMENT — DRAFT FOR ATTORNEY REVIEW Document Ref: LA-2026-001 Date of Preparation: June 1 2026 LENDER: Rajesh Mehta Mumbai Maharashtra India Email: [lender email] BORROWER: Arjun Mehta Mumbai Maharashtra India Email: [borrower email] 1. RECITALS 1.1 Rajesh Mehta is an individual based in Mumbai Maharashtra India and the father of the Borrower, Arjun Mehta. 1.2 Arjun Mehta is an individual based in Mumbai Maharashtra India who wishes to borrow INR 10,00,000 from his father for the purpose of purchasing a secondhand car. 1.3 Both parties confirm their mutual intent to document the terms of this family loan arrangement through this agreement. 2. DEFINITIONS 2.1 Lender: Rajesh Mehta. 2.2 Borrower: Arjun Mehta. 2.3 Loan Amount: INR 10,00,000 being the principal amount lent by the Lender to the Borrower under this agreement. 2.4 Interest Rate: Nil. This is an interest-free loan. 2.5 Repayment Schedule: 24 equal monthly installments as described in Section 6. 2.6 Installment: INR 45,833 per month being each monthly repayment of principal. 2.7 Default: Any event described in Section 13. 2.8 Prepayment: Any repayment of principal in excess of the scheduled installment amount. 2.9 Effective Date: The date on which both parties sign this agreement. 3. LOAN AMOUNT AND DRAWDOWN 3.1 The Lender agrees to advance INR 10,00,000 to the Borrower by bank transfer to the Borrower's nominated bank account on the Effective Date. 3.2 The Loan Amount is advanced once only. No further advances will be made under this agreement. 3.3 Note: Rajesh Mehta must confirm with a qualified Maharashtra attorney before advancing any funds whether any money lending licensing obligation applies to this transaction under the Maharashtra Money-Lenders Act or any other applicable Indian law. 4. PURPOSE OF LOAN 4.1 The Borrower must use the Loan Amount solely for the purchase of a secondhand motor vehicle. 4.2 Arjun Mehta must provide the Lender with a copy of the vehicle purchase invoice within 30 days of the Effective Date as evidence that the Loan Amount has been used for the agreed purpose. 4.3 Using the Loan Amount for any other purpose without the Lender's prior written consent may constitute an event of default under Section 13. 5. INTEREST 5.1 This is an interest-free loan. No interest is charged on the Loan Amount or any outstanding balance at any time during the term of this agreement. 5.2 Note: The income tax implications of an interest-free family loan under the Indian Income Tax Act 1961 including any deemed gift tax implications must be confirmed with a qualified Indian tax advisor before this agreement is executed. 6. REPAYMENT SCHEDULE 6.1 The Borrower must repay the Loan Amount in 24 equal monthly installments of INR 45,833 each. 6.2 The first installment is due on July 1 2026. 6.3 Subsequent installments are due on the 1st day of each following month. 6.4 The final installment is due on June 1 2028 by which date the full Loan Amount must be repaid. 6.5 Repayment Schedule: Installment 1: July 1 2026 — INR 45,833 — Balance INR 9,54,167 Installment 2: August 1 2026 — INR 45,833 — Balance INR 9,08,334 ...continuing monthly... Installment 24: June 1 2028 — INR 45,833 — Balance INR 0 6.6 All payments by bank transfer to the Lender's nominated bank account. 7. PREPAYMENT 7.1 Arjun Mehta may repay all or any part of the outstanding Loan Amount at any time before June 1 2028 without penalty and without any prepayment fee. 7.2 Any partial prepayment will be applied to reduce the outstanding principal balance and may reduce the amount of subsequent installments by written agreement. 8. LATE PAYMENT 8.1 If any installment is not received by the Lender within 30 days of its due date, the Lender may issue a formal written notice to Arjun Mehta demanding payment of the overdue amount within 14 days. 8.2 Arjun Mehta is encouraged to notify the Lender promptly if any installment cannot be met on time so arrangements can be discussed. 9. NO SECURITY 9.1 This loan is unsecured. No security is provided by the Borrower under this agreement. 10. REPRESENTATIONS 10.1 Arjun Mehta represents to the best of his knowledge that he has the legal capacity to enter into this agreement, that the information provided to the Lender is accurate, and that he is not subject to any insolvency, bankruptcy, or undisclosed legal proceeding that would affect his ability to repay. 11. EVENTS OF DEFAULT 11.1 An event of default occurs if: 1. Any installment remains unpaid for more than 30 days after its due date following a formal written demand from the Lender. 2. Arjun Mehta fails to use the Loan Amount for the agreed purpose and does not remedy this within 14 days of written notice. 3. Arjun Mehta becomes insolvent or subject to bankruptcy proceedings. 11.2 Upon an event of default the Lender may demand immediate repayment of the full outstanding balance. 12. TAX IMPLICATIONS 12.1 Both parties should obtain independent tax advice regarding the income tax and gift tax implications of this interest-free family loan under the Indian Income Tax Act 1961 before executing this agreement. 13. GOVERNING LAW AND DISPUTES 13.1 Laws of Maharashtra India govern this agreement. 13.2 Disputes will first be addressed through direct good-faith negotiation. If unsuccessful, disputes proceed to the appropriate Mumbai civil court. SIGNATURE BLOCK: Note: Both parties must have this agreement reviewed by a qualified Maharashtra attorney and a qualified Indian tax advisor before signing. Maharashtra Money-Lenders Act compliance, stamp duty obligations on the loan agreement under the Maharashtra Stamp Act, and income tax implications of an interest-free family loan must all be confirmed before any funds are advanced. Rajesh Mehta (Lender) Signature: ________________ Date: ____________________ Witness: _________________ Arjun Mehta (Borrower) Signature: ________________ Date: ____________________ Witness: _________________ -------------------------------------------------- This Loan Agreement draft was generated by an AI drafting tool as a structured preparation and documentation aid only. It does not constitute legal advice, financial advice, or tax advice. Always have this document reviewed by a qualified attorney and tax advisor before either party signs or any funds are advanced. --------------------------------------------------