India - Maharashtra Agricultural Credit Project : Credit 0293 - Agreement Amending Maharashtra Agreement - Conformed

CONFORMED COPY CREDIT NUMBER 293 IN Agreement Amending Maharashtra Agreement Dated March 29, 1972 BETWEEN THE GOVERNOR OF THE STATE OF MAHARASHTRA AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED NOVEMBER 24, 1972 CONFORMED COPY CREDIT NUMBER 293 IN Agreement Amending Maharashtra Agreement Dated March 29, 1972 BETWEEN THE GOVERNOR OF THE STATE OF MAHARASHTRA AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED NOVEMBER 24, 1972 AN AGREEMENT made this 24th day of November 1972 between THE GOVERNOR OF STATE OF MAHARASHTRA (hereinafter called "the Governor") and INTERNATIONAL DEVELOPMENT ASSOCIATION (hereinafter called "the Association"); WHEREAS by a Development Credit Agreement dated March 29, 1972 and made between India, acting by its President, (hereinafter called "the Borrower") and the Association (hereinafter called "the Development Credit Agreement") the Association has agreed to make available to the Borrower an amount in various currencies equivalent to thirty million dollars ($30,000,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition inter alia that the State of Maharashtra (hereinafter called "Maharashtra") agrees to undertake such obligations toward the Association as therein set forth; AND WHEREAS by a Project Agreement of same date made between the Association, of the one part, and Agricultural Refinance Corporation and Maharashtra State Co-operative Land Development Bank Limited, of the other part, the Agricultural Refinance Corporation and Maharashtra State Co-operative Land Development Bank Limited, respectively, have agreed to undertake certain obligations in respect of the carrying out of the Maharashtra Agricultural Credit Project described in Schedule 2 to the Development Credit Agreement (hereinafter called "the Project"); AND WHEREAS by further Agreement dated March 29, 1972 and expressed to be made between the State of Maharashtra of the one part and the Association of the other part (hereinafter called "the Maharashtra Agreement") in consideration of the Association entering into the Development Credit Agreement with the Borrower, the State of Maharashtra agreed to undertake the obligations therein set forth; AND WHEREAS the Maharashtra Agreement has been executed for and on behalf of the State of Maharashtra and the parties thereto have already prior hereto acted thereupon; AND WHEREAS doubts have now arisen about the legality of the form in which the Maharashtra Agreement has been executed; AND WHEREAS since March 29, 1972 the parties to the Maharashtra Agreement have already been acting upon the Maharashtra Agreement and it has now been agreed between the parties to execute an Agreement in the proper form being in fact these presents; 4 NOW, THEREFORE, THE PARTIES HERETO HEREBY AGREE that in consideration of the Association entering into the Development Credit Agreement with the Borrower, the Governor doth hereby agree that the State of Maharashtra doth undertake all the obligations set forth in the Maharashtra Agreement as if the provisions contained in the various Articles of the Maharashtra Agreement had been specifically set out herein. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorised, have caused this Agreement to be signed in their respective names and delivered in the District of Columbia, United States of America, as of the day and year first above written. For and on behalf of the Governor of the State of Maharashtra By /s / L. K. Jha Authorised by the Governor of the State of Maharashtra under Article 299(1) of the Constitution of India to sign this Agreement INTERNATIONAL DEVELOPMENT ASSOCIATION By /s / William Diamond Director South Asia Department Asia Regional Office