This Surety Bond Is Made This .Day of .2016 At

SURETY BOND

This surety Bond is made this ………….day of………….2016 at………………………..

KNOW ALL MEN by these presents that I, …………………….., S/D/o …………………

R/o ………………………. (hereby referred to as Surety) am hereby firmly and irrevocably bound unto M/s. Jindal Stainless Limited, a Company having its registered office at O. P. Jindal Marg, Hisar, Haryana and having its Plant site at Jindal Stainless

Limited, Kalinga Nagar Industrial Complex, Jajpur, Odisha-755026 (hereinafter called

“Company”) which expression shall unless excluded by or repugnant to the subject or context include its successors and assignees) in the sum of Rs.50,000/- (Rupees fifty thousand only) to be paid to the Company, for which payment to be truly and faithfully made, I bind myself, my heirs, executors, administrators and representatives.

SIGNATURE OF SURETY Contd…p/2

Continuation sheet – 2

WHEREAS Sri/Ms. S/D/o. Resident of (hereinafter called as the “DET”) has applied to the Company for the post of Diploma Engineer Trainee.

AND WHEREAS the Company has agreed to engage him/her as Diploma Engineer Trainee in the Company on the terms and conditions specified in the Service Agreement to be executed between the Company and the DET.

AND WHEREAS the Company under its Policy provides training for a period of one year to the DET and on successful completion of such training, the DET shall be absorbed in the regular employment of the Company as Junior Engineer in Grade ‘Junior Engineer where he/she is required to serve the Company for a period of minimum two years.

AND WHEREAS the DET is required to furnish a surety bond in favour of the Company before joining as Trainee (which is mandatory failing which his candidature will not be considered), the surety has agreed to execute the above written Bond with such conditions as hereunder:

Now, therefore, the Bond witness:

1. That, the DET shall undergo the training provided by the Company for a period of one year during which time the DET shall diligently, faithfully and to the best of his/her ability undergo the training and conduct and behave him(her)self honestly, orderly and obediently towards the Company and will devote his/her whole time to the training and will not engage directly or indirectly in any other trade, business or occupation.

2. That, in the event of successful completion of the training, the DET shall be absorbed in regular employment of the Company as Junior Engineer and he/she shall continue to be in the employment of the Company in any of its units, divisions, departments or establishments at the discretion of the Company for a period of minimum 2 (two) years, unless his/her services are duly terminated before that period.

3. That, the DET shall not leave the training during the prescribed period or extended period or the service of the Company during the stipulated period of 2(two) years from the date of completion of his/her training.

Contd…p/3 Continuation sheet – 3

4. That, the DET shall at all times and from time to time promptly perform his/her duties and observe all rules and regulations of the Company. He/she shall also obey and carry out the orders and instructions of authorized persons of the Company.

5. The DET shall in no way divulge or disclose to any person whatsoever the secrets, know-how or other information entrusted to him or coming to his/her knowledge in the course of his/her training and employment either in relation to its business or its customers.

6. That, the DET shall not commit or cause to be done any waste, damage or injury to the property or goods of the said Company or to lend such property or goods to any person without the consent of the Company.

7. The Surety shall compensate the Company of the expenses incurred on account of and in connection with the training of the DET, if the DET fails to complete his/or her training and /or to serve the company for a period of two years immediately after successful completion of the training provided by the company. The expenditure incurred by the company on account of & in connection with the training of the DET shall include the stipend / salary and other allowances paid to the DET during the training period, the cost of supervision and other items. However the total amount recoverable shall not exceed Rs. 50000/- (Rupees fifty thousand Only) as well as he/she also gives one month notice or pay a sum equivalent to one month salary in lieu of such notice.

8. That, the Company may at its discretion alter, interrupt or terminate the said DET in the event of adverse reports regarding the progress of the DET or his /her health or in case of any disciplinary actions taken against the DET. The DET shall compensate the Company of the expenses incurred on account of the training and all other expenses during the stipulated period of services.

9. That, if the DET leaves the services of the Company before the expiry of the stipulated period of two years after completion of training, he/she shall be liable to pay as stipulated above in the clause 7.

10. That, the Surety shall always be bound by the terms and conditions of this bond and the Company is at liberty to proceed against the Surety for enforcing and recovering the bond amount and it is not necessary for the Company to proceed against the DET before enforcing this bond.

Contd…p/4

Continuation sheet – 4

11. That, the obligations undertaken by the Surety shall not be discharged or in any way affected by any indulgence shown or extension of time given by the Company to the DET.

In witness whereof the surety hereto has signed this bond on the day, month and year above written.

In the presence of witnesses:

Witness:

1. Signature Signature (Surety)

Name Name

Occupation Occupation

Address Address

Witness:

2. Signature

Occupation

Address

INSTRUCTIONS FOR EXECUTING SURETY BOND

The following instructions are illustrative only to enable you to execute ‘Surety Bond’.

SURETY BOND

1. The Surety Bond must be executed by your father/legal guardian on a Non-

judicial Stamp Paper of the value prescribed by the concerned State

Government (i.e. the State in which your surety is residing) at the time of its

execution for an amount of Rs.50,000/- (Rupees fifty thousand only). Please

note that the Stamp Paper of appropriate value must be purchased in the

State in which your Surety is residing at the time of its execution. The first

paragraph of the Surety Bond may be typed on the Stamp Paper. In case a

single Non-judicial Stamp Paper of the prescribed value is not available, you

may get the few lines can be typed on each Stamp Paper. The specimen of the

first paragraph to be typed on the Stamp Paper is enclosed herewith. The

remaining pages of the Surety Bond, which are being sent to you, may be

attached to the Stamp Paper(s) on which the first Paragraph is typed.

2. Each page (i.e. the Stamp Paper(s) on which the first paragraph is type as also

page numbers 2 and 3) of the Surety Bond must be signed by your surety at

the bottom of each page and any correction must be authenticated by him.

3. The signature of the Surety Bond must be attested by a Notary Officer.