Lender Registration Agreement 


This  LENDER REGISTRATION AGREEMENT (hereinafter referred to as this “Agreement” and includes any exhibits attached hereto, which may be amended, supplemented or otherwise modified from time to time), dated this ___________day of ________, _________, and entered into: 


“M/s DIPAMKARA WEB VENTURES PRIVATE LIMITED”, a private limited company incorporated under the provisions of the Companies Act, 1956 (1 of 1956), and having its registered office at  605, 6th Floor, Shangrila Plaza, Road no : 2 , Banjara Hills, Park View Enclave, Opp KBR park, Hyderabad - 500034. (hereinafter referred to as “Company” or “i-lend” or “us” or “we”, which expression shall, unless repugnant to or inconsistent with the context, mean and include its successors and permitted assignees) ; 


Mr/Ms/Mrs_______________________________________, S/o__________________________________________ 
(Hereinafter referred to as the “Lender" which expression shall, unless repugnant to or inconsistent with the context, mean and include their successors and permitted assignees).  [i-lend and the lender shall together be referred to as the “Parties” and severally as the “Party”]


Whereas, i-lend is an online social lending platform that brings together borrowers and lenders, and the Company provides services (as specified in this agreement) in relation to borrowing / lending transactions made through i-lend website.

Whereas, a person who creates an account with i-lend at www.i-lend.in can find a suitable borrower through the services of i-lend on such terms and conditions as may be provided in this agreement. 

Whereas, the person who intends to offer loan through i-lend: 
a) Have created an account with i-lend by giving basic information including name, screen name, contact nos. date of birth, nationality, email, place of residence, chosen password, gender, marital status, employment and such other information  sought for.
b) Have registered online by providing additional personal details, viz, Father’s name, Gross income whether employed or self-employed, PAN and such other information sought for. Whereas, on successful activation of online registration, the person agrees to execute this agreement as a lender for availing i-lend services. 


1.1. In this agreement (including any recitals, annexure, schedules or exhibits attached thereto) except where the context otherwise requires, the following words and expressions shall have the following meaning:-
a) “Act” means the (Indian) Companies Act, 1956.

b) Eligible Listed Borrower means the person whose verification is completed by i–lend.

c) Eligible Listed Lender means the person whose verification is completed by i–lend.

d) i-lend borrower is an individual who satisfies the following criteria:
i. Indian resident as per FEMA regulations
ii. Above age of 21years.
iii. Should be an Earning Member
iv. Have an identity proof
v. Have income proof
vi. Have a valid bank account

e) i-lend lender is an individual who satisfies the following criteria: 
i. Indian resident as per FEMA regulations
ii. Above age of 21 years
iii. Have an identity proof
iv. Have a valid bank account

f) i-lend Rating means rating given by i-lend based on its proprietary algorithm.

g) “Indian Resident” is a person resident in India as defined under clause 2(v) Foreign Exchange Management Act, 1999. The same is reproduced as under: 

Person resident in India for more than 182 days during the course of preceding financial year but does not include:
i. A person who has gone out of India or who stays outside India, in either case :
a) For or on taking up employment outside India; or
b) For carrying on outside India a business or vocation outside India; or
c) For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.

ii. A person who has come to or stay in India, in either case, otherwise than
a) For or on taking up employment in India, or
b) For carrying on in India a business or vocation in India, or
c) For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;

h) “Listing” is a borrower / lender public profile page that shows an interest by either lender / borrower to offer / take loans through i-lend and this can be viewed by all registered users on i-lend

i) “Lender Listing” is a commitment by lender to offer loan to borrowers on i-lend.

j) “Borrower Listing” is a loan request by i-lend Borrower on i-lend portal.

k) ”Listing Period” is a period of 10 (ten) days for a listed borrower. In case of lender, there is no time-limit for the listing to be active. However, periodic checks on the personal information may be done at the discretion of i-lend either through tele-call or through physical verification.

l) "Additional Listing Period" is a period of 7 continuous days in addition to listing period. This is applicable to listed borrowers only.

m) “Bid” is the lender’s commitment to fund the loan to the specified listed borrower 

n) “Person” means an individual.

o) Servicing by i-lend:
1. Verification of the lender and borrower for identity, address, employment and other information as necessary.
2. Collecting duly signed agreements from the lender(s) and the borrower(s)
3. Collecting the cheques from the lenders(s) in the name of borrower(s) and ensure that they are delivered to the borrower.
4. Collect the post-dated cheques from the borrower(s) in the name of lender(s) and ensure that the same are delivered to the lender(s) or help the borrower(s) in getting the NACH debit facility with their bank.
5. If the post-dated cheques are dishonoured / no credit through NACH is given by the bank, then i-lend on behalf of lender will take such necessary steps as permitted by law against the borrower to realize the amounts due along with the interest at the decided rate and other fees as agreed in this agreement including appointment of collection agents, if required. 

1.2.  References to Articles, Clauses, Recitals, Appendices and Schedules are to articles, clauses, recitals, appendices and schedules to this agreement. 

1.3.  Any reference to a statutory provision shall include such provision as is from time to time modified or re-enacted or consolidated so far as such modification or re-enactment or consolidation applies or is capable of applying to any transactions entered into hereunder.

1.4.  Words denoting the singular only shall include the plural and vice versa.

1.5.  Words denoting the masculine gender only shall include the feminine gender and vice versa.

1.6.  The Recitals to this agreement shall be and form an integral part of this agreement.

1.7.  Headings in this Agreement are for convenience of reference only and shall not be used to construe or interpret this agreement.


This agreement shall come into effect from the date of this agreement.


3.1 Lender agrees to register with i-lend as i-lend lender for providing loan to eligible listed i-lend borrowers. Post online registration, lender is allowed to create his listing, on i-lend portal. He can view the other listed lender/ borrower listings. Lender's listing will be displayed and he can make offers or accept requests only on successful verification. Verification process is mentioned in section 4 of this agreement. Those lenders whose online registration is completed should submit the documents sought for verification by i-lend during the visit of i-lend personnel to the lender or upload online as the case may be. This will be completed within 3-5 working days from the date of your registration on the site.

3.2 i-lend lender hereby agrees to receive SMS transaction alert posted by i-lend on any new registrations, loan closures, repayments, offers on loans, request from borrowers etc. Registered members are availing this services on their own will and there will be no financial obligation of i-lend in case of legal disputes. The registered members are obliged to notify i-lend, any change on his/ her mobile phone numbers. The registered members are allowed to opt out from receiving SMS transaction alert by notifying i-lend in writing.

3.3 Registered members hereby allow i-lend to access, collect and display any public information available in the domain of Facebook /LinkedIn or any such social networking sites, in their portal. The registered members can however restrict either access, collection or display of information by notifying to i-lend.


4.1.  On successful completion of execution of this agreement, the lenders are subject to verification. Verification process includes physical verification to check on correctness of data provided for online registration by the lender with the proofs. Lender should provide the following list of documents at the time of  physical verification by i-lend team 

4.1.1. Identify Proof:  PAN card, Passport, Driving License, Ration card or such other document which are issued by government agency.
4.1.2. Address Proofs: Passport, Driving License, Ration Card or such other document which are issued by any government agency.
4.1.3. Additional Proofs: Contact details And such other information / documents as required by i-lend. The exhaustive list can be seen on the website and also will be communicated through e-mail

4.2. Lender hereby authorise i-lend to obtain credit report from Credit Information Bureau (India) Limited or such other organisation which provide such facilities not only for the first time on registration but at any time during his association with i-lend. The credit report shall be used for any purpose that is authorized by applicable law. 
4.3. i-lend has the right to reject any lender application if any information provided by lender is inaccurate or incorrect 
4.4. If any changes occur in the personal information provided after posting a listing, lender must either
       a) Promptly notify i-lend of the change, or
       b) Withdraw the listing.

In the event of not notifying, i-lend at its sole discretion may take necessary action including removing the listing.

4.5 I-lend Investor hereby agrees that documents sought by i-lend at the time of registration or anytime thereafter become part of the official record of i-lend and will not be returned. However on closure of the user account i-lend will ensure that the same is destroyed.


Lender's listing will be displayed on i-lend portal and he can make offers or accept requests only on successful verification by i-lend. The loan offer should comprise of following credentials to be filled by the lenders:
a) Lending amount
b) Expected rate of returns
c) Any specific purpose of lending

The above information will be made public to all visitors on the site. All information posted on the listed will be reviewed by i-lend webmaster before publishing. Once i-lend completes verification, the lender listing is made active and displayed on i-lend portal. 

5.1. Duration of Lender Listings: 

Lender listing will be active till the time he has lent the entire amount sought for lending or withdraws the listing whichever is earlier. 

5.2. Modification, Withdrawal of Listing and Relisting : 

Lender listing once posted cannot be modified with respect to commitment of funds. However, eligible listed lender can withdraw their listing excluding the amount
a) To the extent of closed bids and
b) To the extent accepted for the requests made by the eligible listed borrower till they are closed. If the same is not closed in the listing period or additional listing period, listed lender can withdraw offer.
In the event that the eligible listed lender wants to re-list, he can post a new lending request or listing after 30 days containing the updated information.
i-lend reserves the right, in its sole discretion, to limit the number of re-listing of offers a lender can post or attempt to post on its platform

5.3. Additional Bids: 

If the lender fails to abide by his commitment towards disbursement of loan, his name will be delisted and he will not be allowed to carry out any transaction in i-lend portal in future.

5.4. Closure of Bid:

The bid is valid till the eligible listed borrower listing is closed by the borrower unless the same is withdrawn by the eligible listed borrower in the listing period or additional listing period or eligible listed lender bid is removed from the list of lenders offers’ included in the borrower loan based on i-lend’s in-built system intelligence to pick best offers for the borrower or in case where borrower listing is withdrawn or cancelled/ suspended/ terminated by i-lend.  In such situations, lender can bid again. The above conditions will also hold good in the event the when borrower approached a lender for loan requests.

5.5. Minimum and Maximum amount of Listing:

Eligible listed lender must invest a minimum of Rs.10,000/- and can lend only in multiples of Rs.5,000/- thereafter.  For any changes in this section, please see the website for updates. 


6.1. Loan Funding:

6.1.1 On posting a listing, lender might receive requests from several registered eligible listed borrowers or can make offers to several listed borrowers.

6.1.2 The lender can lend money for a minimum period of 6 months and maximum for 36 months (3 years) at a time. The loan period must be in multiples of 6 months. However, this period is dependent on the terms of the particular borrower loan.

6.1.3 Once a borrower listing is closed on i-lend, lender's lending amount is reserved for that loan

6.1.4 On closure of borrowers listing, the final interest rate is arrived at by taking weighted average of all the interest rates offered by all selected lenders which is the returns that the lenders will get on that particular borrower loan.

6.1.5 Immediately on closing the loan offer, i-lend will liaison between lender and borrower to sign documents required to enable the transaction. After completing the legal formalities / documentation between borrower and lender including handing over of the cheque favouring borrower, loan proceeds shall be disbursed by i-lend within a period 3-5 working days into borrower’s designated deposit account.

6.1.6 If the lender fails to abide by his commitment towards disbursement of loan, his name will be delisted and he will not be allowed to carry out any transaction in i-lend portal in future.

6.1.7 All gains through i-lend are taxable and hence must be filed as per the rules.

6.2 Partial Loan Funding:

During the listing period, if a borrower fails to receive commitments for the entire borrower listing, he is provided with the following 2 (two) options:–

6.2.1 To accept the amount received subject to a minimum of 50% of loan amount not less than Rs.25,000/-

6.2.2 To extend the listing by another 7 (Seven) days. If a borrower does not receive 100% commitment even in additional listing period, he may accept the loan subject to condition (6.2.1) or withdraw his listing.
In such case, the lender will be intimated and his contribution to the borrower loan will be as per his bidding offer. i-lend may change the threshold options of partial funding from time to time. Any such change will only affect listings created after the change is made.

6.3 Delayed Funding:

i-lend may delay funding of a loan:
a) If it foresees a discrepancy in the accuracy of the information provided by the borrowers or lenders; 
b) To identify the new lenders, in case of non-commitment of the chosen lenders for the proposed listing;
c) In case of delay in deposits by the committed lenders.

6.4 Cancel Funding/ Disbursal:

i-lend reserves the right to verify the accuracy of all information provided by i-lend eligible listed borrowers and eligible listed lenders, in connection with listings and loans through any of the available modes including by making a tele-call before, during or after the posting of a listing, or before or after the funding/ disbursal of a loan. In case of any suspected fraud or inaccuracies in the information provided to it, i-lend reserves the right to cancel the funding at any point of time before disbursal.


On completion of every loan transaction i-lend charges a nominal fee of 1% of lending amount excluding service tax, for rendering its services. This amount may vary from time to time and will be available on the website. However, all lenders will be informed through a communication from i-lend on the same. The processing fees will be collected through cheque in favour of Dipamkara Web Ventures Pvt. Ltd.


8.1.  The repayment date for all borrowers is on 7th of every month. In case of a holiday, EMI will be collected on the next working day. I-lend collects post-dated cheques for the EMI amount from the borrowers for the total repayment amount at the time of loan disbursement. Lender’s share of the amount (calculated on pro rata basis) is then transferred to their account.

8.2. Late Fees

Borrower agrees to pay the Principal and the Interest amount at the settled dates in the admitted manner. In the event of delay payments, a late fee is charged based on the following criteria:-
• 01 - 10 days, 05% of EMI amount
• 11 - 20 days, 10% of EMI amount
• 21 - 31 days, 20% of EMI amount
• 30 - 60 days, 50% of EMI amount
i-lend collects the late fees from the borrower through cheque in favour of the lender & deposits the same in the lender bank account. Please note that i-lend at its sole discretion can increase this amount. To know the latest charges, please visit www.i-lend.in.

8.3.  If i-lend ties up with any bank in the near future, lender agrees to open a bank account with i-lend designated bank through which all the loan offers will be processed. In such case, lender agrees to make all loan commitments through NACH by maintaining a lender account. Till that period, lender agrees to provide cheques to transfer the loan amount as well as receive cheques for the EMI amount for the total repayment amount.

8.4.  Prepayment of loan

i-lend borrowers can at time during their loan tenure repay the loan subject to the below conditions and there is no penalty for the same.
8.4.1. Minimum six EMIs must be paid
8.4.2. The above conditions are subject to change at the sole discretion of i-lend and can be seen on the website. These changes will be effective for ongoing loans as well as new loans.
8.4.3. Prepayment of loans allows borrower to reduce the loan tenure but not the EMI amount. In such case, the lender must accept the repayment amount and no interest will be received on the pre-payment amount of the borrower loan.

8.5. Interest

The rate of interest applicable to the loan is compounded with the monthly rests on the outstanding balance, namely the balance of loan and unpaid interest and costs, charges and expenses outstanding at the end of the month.

8.6. Penal Charges

The borrower shall be liable to pay penal charges if any levied by the Banks on account of cheque bouncing, cheque swapping or on return of any cheque issued by the borrower.


i-lend does not guarantee full or partial collection of money from the borrowers. In case, i-lend is able to collect some amount of money, the collection charges for the same are deducted before depositing the money into the lenders account. The collection charges are paid to the collection agencies. In case a borrower misses an instalment, i-lend will contact the borrower over phone and follow-up on the repayment. Late fees are charged here. In case, the borrower is not reachable over phone, he/she is contacted through e-mail & letter. If the borrower is does not pay for two subsequent months, legal notice is sent to him. After a period of 60 days, i-lend or lender either directly or indirectly will exercise all the remedies legally available under the laws applicable from time to time.  In addition, the loan may be referred to collection agencies and all the dues including the money spent in recovery will be collected from the borrower.


10.1.  i-lend obligations: 

After closing the loan offer either in the listing period or additional listing period, i-lend agrees to liaison between the lenders and borrowers to execute the required legal documents which will bind both the parties till the clearance of all the payments. i-lend agrees to engage the services of a collection agency on behalf of the lender in collecting timely payments from the borrower. i-lend assumes no advisory or fiduciary responsibility with respect to lender in connection with the lending.

10.2. Lender obligations:

a) To provide accurate and true information
b) To provide certified true copies for the documents sought
c) Not to share information that may reveal lenders identity in the loan offers
d) To comply with the terms of use for the website, privacy policy and as well any other rules or policies set forth on i-lend’s website (www.i-lend.in), any of which may be amended from time to time by i-lend at its sole discretion. (collectively known as "i-lend terms and conditions").
e) To fund the accepted amount to the borrower without any failure.
f) To co - operate with i-lend for the information/ documents sought from time to time.
g) Agree that, in connection with any loan offers,  loans or other transactions involving or potentially involving i-lend, not to (i) make any false, misleading or deceptive statements or omissions of material fact; (ii) misrepresent his identity, or describe, present or portray himself as a person other than him (iii) give to or receive from, or offer or agree to give to or receive from, any i-lend lender or other person any fee, bonus, additional interest, kickback or thing of value of any kind, including in exchange for such person's commitment, recommendation, or offer or agreement to recommend or make a commitment with respect to your listing; (iv) represent himself to any person as a director, officer or employee of i-lend, unless being so (v) Post anything abusive, harmful content or pictures; which is defamatory to i-lend.


Each party to the agreement makes the following representations and warranties with respect to itself, and confirms that they are, true, correct and valid:
a) It has full power and authority to enter into, deliver and perform the terms and provisions of this agreement and, in particular, to exercise its rights, perform the obligations expressed to be assumed by and make the representations and warranties made by it hereunder;
b) Its obligations under this agreement are legal and valid obligations binding on it and enforceable against it in accordance with the terms hereof.
c) The parties to the agreement warrant and represent to have the legal competence and capacity to execute and perform this agreement.


i-lend does not guarantee:
a) That lender listing will be matched with any Borrower loan request, or
b) That lender will receive a loan request as a result of posting a listing, or
c) That lender’s money will be committed in a borrower loan as a result of his making an offer to a listed borrower
d) That lender will receive any rate of return, or any minimum amount of principal or interest on any principal or interest at all.
e) Full or partial collection of money from the borrowers


Lender represents himself and no third party. Lender is not authorised or permitted to use i-lend to make offers for someone other than himself. All the transactions carried will be solely by lender from his deposit account. A registered lender may also register & participate as borrower on i-lend portal. However there will be separate accounts for borrower and lender role. If lender participates on the platform as a borrower, any amount in your funding account are subject to set-off against any delinquent amounts owing on any loans obtained by him as a i-lend borrower. However, i-lend reserves the right to decide if a particular lender or borrower can have both accounts at the same time.

14.1. Listing:

In the event of any failure to fund the accepted loan offer, i-lend at its sole discretion reserves the right to restrict any further listings from the lender.

14.2. Registration:

i-lend may at its sole discretion, with or without cause, terminate this agreement and registration with i-lend at any time by giving a notice to the lender.

14.3. Listing and/ or Registration:

i-lend has sole authority to determine the non- compliance of lender obligations mentioned under para 10.2 above, involvement of lender in any prohibited activity or illegal purpose, lenders failure to abide by the terms of this agreement or the i-lend terms of service and any law of land. Upon such determination in connection with registration/ loan offer, i-lend may, at its sole discretion, immediately and without notice, take one or more of the following act
1. Terminate or suspend investors right to post loan offers or otherwise participate on the platform; or 
2. Terminate this agreement and registration with i-lend 

14.4. Consequences on  termination of Registration:

Upon termination of this agreement and registration with i-lend, all the loans originated through i-lend still hold good as the agreement are legal and signed by the borrower & lender.


i-lend reserves the right to modify the clauses of the agreement or its terms of service. Changes will not apply retrospectively. Changes to the terms of service will become effective no sooner than two days after they are posted. i-lend will give you notice of material changes to this agreement, within 14 working days 


Lender agree to indemnify and hold i-lend harmless from and against any and all claims, action, liability, cost, loss, damage, endured by i-lend by your access in violation to the listed terms of service and also to the applicable laws, rules and regulations or agreements prevailing from time to time.


If any provision of this agreement is found to be invalid or unenforceable, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable provision that most closely matches the intent of the original provision and the remainder of the agreement shall continue in effect.


i-lend and all related logos (collectively the "i-lend trademarks") are trademarks or service marks of i-lend. Nothing on this site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any of i-lend trademarks displayed on this site, without our prior written permission in each instance. Lender should not use, copy, display, distribute, modify or reproduce any of the trademarks found on the site unless in accordance with written authorization by us. i-lend prohibits use of any of i-lend trademarks as part of a link to or from any site unless establishment of such a link is approved in writing by i-lend in advance.


All notices and other communications hereunder shall be given by email to lenders registered email address and wherever possible, posted on i-lend’s website. Lender may request i-lend to send the correspondence through post, for which lender has to bear the expenditure. For effective communication, lender agree to notify any changes in the communication details i.e. mailing address, contact details, email-id by writing in post to i-lend address as provided in its portal or sending an  email at info@i-lend.in


Lender authorizes i-lend to correct obvious clerical errors appearing in information you provide to i-lend, without notice to him, although i-lend expressly undertakes no obligation to identify or correct such errors.


a) Any and all disputes or differences between Investor and i-lend the Company, arising out of or in connection with this agreement or its performance shall, so far as it is possible, be settled by negotiations between the parties amicably through consultation 
b) Any dispute, which could not be settled by the parties through amicable settlement (as provided for under Clause 21.1 hereinabove) shall be finally settled by the court of law having jurisdiction to grant the same. 
c) This agreement and the arrangements contemplated hereby shall in all respects be governed by and construed in accordance with the laws of India without giving effect to the principles of conflict of laws there under. 


No Party shall be liable to the other if, and to the extent, that the performance or delay in performance of any of its obligations under this agreement is prevented, restricted, delayed or interfered with, due to circumstances beyond the reasonable control of such party, including but not limited to, Government legislations, fires, floods, explosions, epidemics, accidents, acts of God, wars, riots, strikes, lockouts, or other concerted acts of workmen, acts of Government and/or shortages of materials. The party claiming an event of force majeure shall promptly notify the other parties in writing, and provide full particulars of the cause or event and the date of first occurrence thereof, as soon as possible after the event and also keep the other parties informed of any further developments. The party so affected shall use its best efforts to remove the cause of non-performance, and the parties shall resume performance hereunder with the utmost dispatch when such cause is removed.


All warranties, undertakings and agreements given herein by the parties shall be binding upon the parties and upon its legal representatives and estates. This agreement (together with any amendments or modifications thereof) supersedes all prior discussions and agreements (whether oral or written) between the parties with respect to the transaction. 


This agreement, along with the i-lend terms and conditions, represents the entire agreement between you and i-lend regarding your participation as a lender on the platform, and supersedes all prior or contemporaneous communications, promises and proposals, whether oral, written or electronic, between you and i-lend with respect to your involvement as a lender on the platform.