THE NEW INDIA ASSURANCE CO. LTD. ( Regd. & H.O.-87, M.G. Rd., Mumbai-400001.) INSURANC !

O"IC# $OR !OR%A&" 'UI!M N%S Whereas The insured as stated in the schedule by a proposal and declaration which shall be the basis of this contract and is deemed to be incorporated herein has applied to THE NEW INDIA ASSURAN E ! "TD# called the company $ for insurance hereinafter contained and has paid the premium as consideration of such insurance durin% the period of insurance as stated inthe schedule or durin% any further period for which the ompany may accept payment for renewal or e&tension of this policy# N!W THIS '!"I ( WITNESSETH that sub)ect to the terms and conditions and e&ceptions contained herein or endorsed hereon $the company will indemnify the insured a%ainst accidental loss or dama%e to the property mentioned in the schedule$ whilst in the custody of the insured by *Tic+ed as applicable,$ a, -ire$ "i%htenin%$ E&plosion . Implosion$ Aircraft dama%e$Riot$ Stri+e$ /alicious dama%e$ Storm$ yclone $ Typhoon$Tempest$ Hurricane$ Tornado$ -lood$ 0 Inundation$ Impact dama%es$ Subsidence 0 "andslide includin% roc+ slidedama%e$ 1urstin% and.or !2erflowin% of Water Tan+s$ Apparatus0 'ipes$ /issile Testin% !perations$ "ea+a%e from AutomaticSprin+lers Installations$ 1ush fire * as per STANDARD -IRE AND S'E IA" 'ERI"S '!"I ( clause ,# b, Earth3ua+e *-ire 0 Shoc+, c, 1ur%lary.house brea+in% i#e# Theft followin% actual 2iolent forcible entry or e&it into.from the premises and hold4up# d, Theft e, Accidental e&ternal dama%e to the property described in the schedule hereto belon%in% to the insured e&cept whilst the property is on road or at wor+ or bein% wor+ed on in the custody of insured5s contractors . sub contractors.carriers# f, Electrical 0 /echanical 1rea+4down %, o2er also e&tends for the abo2e perils whilst the property is in transit within the territorial . /unicipal limits of 6INDIA*district . state . country, as personally accompanied ba%%a%e$ accompanied by insured or his authorised employees# h, *Any other peril.s to be specified with necessary authentication#, The Insured bear the first 6 Rs#789: for upto 9:::7777777777 of each and e2ery claim under this policy and further amount of Rs#79:: for abo2e 9$:::777777777 for claims arisin% out of 77777777777777perils# Sub)ect to the liability of the company for any one item of the insured property not e&ceedin% in the a%%re%ate in any one period of insurance $the sum4insured set a%ainst such item in the schedule attached$ unless the sum4insured under such item is reinstated after occurrence of a claim for balance period# GENERAL EXCEPTIONS ;# "oss dama%e and.or liability caused by or arisin% from or inconse3uence$ directly of < a, War$ In2asion$ Act of -orei%n Enemy$ Hostilities or war li+e operations *Whether War be declared or not,# i2il War=Rebellion$ Re2olution$ Insurrection$ /utiny$ Riot$ Stri+e$loc+out and /alicious Dama%e# i2il ommotion$ /ilitary or usurped 'ower$ /artial "aw$ conspiracy confiscation$ ommandeerin%$ A %roup of malicious persons or persons actin% on behalf of or in connection with any political

!r%anisation# Re3uisition or Destruction or dama%e by order of any >o2ernment de)ure or de facto or by any 'ublic$/unicipal or "ocal Authority#b, Nuclear reaction$ Nuclear radiation or Radioacti2econtamination from any source whatsoe2er 8# Accident$ "oss dama%e and .or liability resultin% from o2erload $ e&periments or tests re3uirin% the imposition of abnormal conditions# ?# >radually de2elopin% flaws$ defects$ crac+s or partial fractures in any part not necessitatin% immediate stoppa%e$ althou%h at some future time repair or renewal of the parts affected may be necessary# @# Deterioration of or wearin% away or wearin% out any part of any machine caused by or naturally resultin% from normal useor e&posure# 9# "oss$ dama%e and . or liability caused by or arisin% out ofthe willful act or willful ne%lect or %ross ne%li%ence of the insured or his responsible representati2es# A# "iability assumed by the Insured by a%reement unless such liability would ha2e attached to the Insured not with4standin% such a%reement# B# "oss$ dama%e and .or liability due to faults or defects e&istin% at the time of commencement of this Insurance and +nown . un+nown to the Insured or his responsible representati2e # C# "oss of use of the Insured property or any other conse3uential loss incurred by the Insured or le%al liability of any +ind# D# Any loss of or dama%e to E ray film or any electronic data stora%e media$ data.records or similar non tan%ible items# ;:#1rea+a%e$ crac+in% or scratchin% of croc+ery$ %lass cameras$ binoculars$ lenses$ sculptures$ curios# pictures$ musicalinstruments$ sports %ear and similar articles of brittle or fra%ile nature$ unless caused by fire or accident to the means of con2eyance# ;;#Any loss or dama%e arisin% throu%h delay$ detention or confiscation by customs or other authorities# ;8#"oss or dama%e caused by electrical or mechanical brea+down$ unless co2ered specially# ;?# Any loss or dama%e caused by Terrorism 0 Sabota%e perils# In any action$ suit or other proceedin% where the ompany alle%es that by reason of the pro2isions of the e&ceptions or e&clusions abo2e$ any loss$ destruction$ dama%e or liability is not co2ered by this insurance$ the burden of pro2in% that such loss$ destruction$ dama%e or liability is co2ered shall be upon the insured#

SPECIAL EXCLUSIONS The ompany shall not be liable for <4 ;# The E&cess$ as stated in the Schedule$ to be first borne by the insured out of each and e2ery claim= where more than one item is dama%ed in one and same occurrence$ the insured shall not$ howe2er$ be called upon to bear more than the hi%hest E&cess applicable to any one such item= 8# "oss or dama%e for which the manufacturer or supplier or repairer of the property is responsible either by law or contract# ?# Theft from an automobile e&cept when the automobile is fully closed ha2in% at the time all doors windows and other openin%s securely loc+ed and properly fastened# @# Any loss or dama%e to articles . items of consumables in nature# PROVISIONS ;# SU/ INSURED < It is the re3uirement of this Insurance that the Sum Insured shall be e3ual to the cost of the replacement of the property by property of the same +ind and same capacity which shall mean its replacement cost includin% frei%ht $dues and customs duties$if any# 8# 1ASIS !- INDE/NIT( < a, In cases where dama%e to an Insured Item can be repaired$ the ompany will pay e&pense necessarily and reasonably Incurred to restore the dama%ed machine to its former state of ser2iceability and customs duties if any pro2ided such e&penses ha2e been included in the Sum Insured# ost of parts

as per manufacturers list price or the mar+et 2alue which e2er is lower with deduction for 2alue of any sal2a%e will be ta+en into account# No deduction shall be made for depreciation in respect of parts e&cept those with limited life# If the cost of repairs as detailed herein abo2e e3uals or e&ceeds the actual 2alue of the machinery Insured immediately before the occurrence of the dama%e the settlement shall be made on the basis pro2ided for in *b,below# b, In cases where an Insured Item is destroyed$ the ompanywill pay the actual 2alue of the item immediately before the occurrence of the loss plus customs duties if any pro2ided such e&pense has been included in the sum insured$ such actual 2alue to be calculated by deductin% proper depreciation from the replacement 2alue of the item# The sal2a%e will be ta+en into account# The cost of any alterations$ impro2ements or o2erhauls shall not be reco2erable under this 'olicy# If the Sum Insured is less than the amount re3uired to be insured as per 'ro2ision I herein abo2e$ the ompany will pay only in such proportion as the Sum Insured bears to the amount re3uired to be insured# E2ery item if more than one shall be sub)ect to this condition separately# The ompany will ma+e payments only after bein% satisfied$ by production of the necessary bills and documents$ that the repairs ha2e been effected or replacements ha2e ta+en place$ as the case may be# WARRANT( It is warranted that the maintenance a%reement in force at the inception of this policy is maintained durin% the currency of this policy and no 2ariation in terms of the a%reement shall be made without the written consent of the company bein% obtained# -or the purpose of this warranty the word 5/aintenance5 shall mean the followin%$ i, Safety chec+ ii, 're2enti2e maintenance iii,Rectification of loss or dama%e or fault arisin% from normal operation as well as from a%in%# !NDITI!NS < ;# This policy and the attached Schedule *s, shall be read to%ether as one contract and words and e&pressions to which specific meanin%s ha2e been attached in any part of this 'olicy or of the attached Schedule*s, shall bear the same meanin% where2er they may appear# 8# If a claim is in any respect fraudulent or if any false declarations is made or used in support thereof if any fraudulent means or de2ices are used by the Insured or any one actin% on his behalf to obtain benefit under this 'olicy# All benefit under this 'olicy shall be forfeited# ?# No admission$ offer$ promise$ payment or indemnity shall be be made or %i2en by or on behalf of the Insured with out the written consent of the ompany who shall be entitled if they so desire to ta+e o2er and conduct in the name of the insured the defense or settlement of any claim for indemnity or dama%e or otherwise and shall ha2e full discretion in the conduct of any proceedin% or in the settlement of any claimand the insured shall %i2e all such information and assistance as the ompany may re3uire# @# The due obser2ance and fulfillment of the terms$ pro2isions and conditions of and endorsement on this policy in so far as they relate to anythin% to be done or complied with by the insured and the truth of the statement and answers in the said proposal shall be conditions precedent to any liability of the ompany to ma+e any payment under this 'olicy# 9# Where any item insured hereunder consists of articles in pair or set$ the ompany5s liability in respect thereof shall not e&ceed the 2alue of any particular part or parts which may be lost or dama%ed without reference to any special 2alue which such articles may ha2e as part of such pair or set nor more than a proportionate part of the Insured 2alue of the pair or set# 9# !1"I>ATI!NS !- THE INSURED < ;# E2ery notice 0 communication to the o# re3uired for this policy shall be written to the office of the o# throu%h which the insurance is effected# 8# The Insured shall ta+e all responsible steps to maintain the the insured property in efficient wor+in% order and to ensure that no item is habitually or intentionally o2erloaded# The Insured shall fully obser2e

the manufacturer5s instructions in force concernin% the operation and maintenance of the e3uipment The company officials shall ha2e the ri%ht to inspect . e&amine any property insured hereunder and the insured shall pro2ide the officials of the ompany with all details and information necessary for the assessment of the ris+# The ompany shall pro2ide the insured with a copy of the inspectin% official5s report $which shall howe2er be treated as strictly confidential both by the Insured and the ompany# ?# In the e2ent of any$ *i, /aterial chan%e in the ori%inal ris+ *ii, Alteration$ modification or addition to insured item *iii, Departure from prescribed operatin% conditions$ whereby the ris+ of loss or dama%e increases *i2, han%es in the Insured5s Interest *such as discontinuation or li3uidation of the business or bein% placed in recei2ership, ta+in% place$ the 'olicy shall be 2oid unless its continuance be a%reed by endorsement si%ned by the ompany# A# DUTIES -!""!WIN> AN A IDENT <

In the e2ent of any occurrence which mi%ht %i2e rise to a claim under this 'olicy the Insured shall= a, immediately notify the ompany by telephone or tele%ram as well as in writin%$ %i2in% an indication as to the nature and e&tent of loss or dama%e= b, ta+e all reasonable steps within his power to minimise the e&tent of the loss or dama%e= c, 'reser2e the dama%ed or defecti2e parts and ma+e them a2ailable for inspection by an official or sur2eyor of the company= d, furnish all such information and documentary e2idence as the the ompany may re3uire# e, immediately followin% a theft$ notify the police authorities# The company shall not be liable for any loss or dama%e of which no notice and completed claim form ha2e been recei2ed by the ompany within se2en days of the occurrence# In all cases a representati2e of the ompany shall ha2e the opportunity of inspectin% the dama%e before any alterations repairs or replacement are effected# Nothin% contained herein shall pre2ent the Insured from ta+in% such steps as are necessary for minimisin% the loss# The liability of the ompany under this 'olicy in respect of any item or property sustainin% dama%e$ for which indemnity is pro2ided$ shall cease if the said itemis +ept in operation without bein% repaired to the satisfactionof the ompany#

!THER INSURAN E If at the time any claim arises under this policy$ there is any any other insurance co2erin% the same loss$ dama%e or liability$the ompany shall not be liable to pay or contribute more than its ratable proportion of such loss dama%e or liability# '!SITI!N A-TER A "AI/ a, The Insured shall not be entitled to abandon any property whether ta+en possession of by the ompany or not# b, As from the day of loss the Sum Insured for the remainder of of the period of insurance is reduced by the amount of the compensation# To pre2ent under insurance durin% the remainder of the current period of insurance the amount insured must be reinstated# The premium will be calculated pro4rata from the day the repaired item is a%ain put to wor+# -or subse3uent periods of insurance the ori%inal indemnity and premium are a%ain in force unless circumstances )ustify an alteration# TRANS-ER !- INTEREST

The insurance %ranted by this policy shall cease to attach to any items described in the Schedule$ the interest in which shall pass from the insured otherwise than by will or operation of law$ unless the consent of the ompany for the continuance of the Insurance shall be obtained and si%nified by endorsement hereon# TER/INATI!N !- INSURAN E This insurance may be terminated at any time at the re3uest of the Insured in which case the ompany will retain the premium calculated at the customary short period rate for the time the policy has been in force# This insurance may also at any time be terminated at the option of the ompany %i2in% se2en days5 notice to the Insured$ in which case the ompany shall be liable to repay on demand a ratable proportion of the premium for the une&pired term from the date of the cancellation# RE !FER( The Insured shall at the e&pense of the ompany do and concur in doin% and permit to be done all such acts and thin%s as may be necessary or re3uired by the ompany in enforcin% any ri%ht or remedies of obtainin% relief or indemnity from parties *other than those insured under this policy, to which the ompany shall be or would become entitled or subro%ated upon their payin% for or ma+in% %ood of any loss or dama%e under this policy$ whether such acts and thin%s shall be or become necessary or re3uired before or after the Insured5s indemnification by the ompany# AR1ITRATI!N 0 DIS "AI/ER If any dispute or difference shall arise to the 3uantum to be paid under this policy$ *liability bein% otherwise admitted, such difference shall independently of all other 3uestions be referred to the decision of a sole Arbitrator$ to be appointed in writin% by the parties in difference= or if they cannot a%ree upon a sin%le Arbitrator within ?: days of any party in2o+in% arbitration the same shall be referred to a panel of three arbitrators$ comprisin% of two arbitrators$ one to beappointed by each of the parties to the dispute.difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the pro2isions of the Arbitration and onciliation Act ;DDA# It is clearly a%reed and understood that no difference or dispute shall be referable to arbitration as herein before pro2ided$ if the ompany has disputed or not accepted liability under or in respect of this policy# It is hereby e&pressly stipulated and declared that it shall be condition precedent to any ri%ht of action or suit upon thisthe policy that award by such Arbitrator. Arbitrators orumpires of the amount of the loss or dama%e shall be firstobtained# It is also hereby further e&pressly a%reed and declared that if the company shall disclaim liability to the Insured for anyclaim hereunder and such claim shall not$ within twel2e calendar months$ from the date of such disclaimer ha2e been made the sub)ect matter of a suit in a court of law$ then the claim shall for all purposes be deemed to ha2e been abandoned and shall not thereafter be reco2erable hereunder# RENEWA" N!TI E The ompany shall not be bound to issue any renewal notice nor to accept renewal premium thereunder#