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MEMORANDUM OF RECORD FOR CREATION OF EQUITABLE MORTGAGE IN FAVOUR OF A BANK Shri……………..Managing Director of X Y Private Ltd., a company incorporated under Companies Act, 1956 and having its registered office at……………..attended the office of the Bank at on the day of.....................20……………..and delivered to and deposited with Shri......................Branch Manager ……………..Bank ……………..the documents of title described in the First Schedule hereunder written, by way of mortgage by deposit of title deeds in favour of the .............. Bank in respect of the building ……………..situate at............ and the land on which the said building has been constructed, which land admeasures…………….. Sq. Metres, the particulars whereof are given in the Second Schedule hereunder written, the building and the land hereinafter collectively referred to as the said properties 2. While depositing the said title deeds Shri ............................... stated that he was doing in his capacity as Managing Director of the X Y Private Ltd., pursuant to the Resolution of the Board of Directors of the said X Y Private Ltd. with intent to create security by way of mortgage by deposit of title deeds in favour of the ................................. Bank on the said properties together with buildings and other structures now erected or hereafter to be erected to secure the sum of Rs. .....................advanced and to be advanced by the……………..Bank to the said X Y Private Ltd., pursuant to the loan agreement, dated.....................as executed between the said……………..Bank and X Y Private Ltd., together with interest @………… % p.a. and other expenses/costs payable by the said X Y Private Ltd. under the said loan Agreement. 3. Shri……………..stated that he was authorised to create a mortgage as aforesaid by the Resolution passed by the Board of Directors of the said X Y Private Ltd. at their meeting held on .....................and he produced a certified copy of the same. 4.Shri……………..assured and declared that the documents of title so deposited were the only documents of title relating to the said properties in the custody and possession of the said X Y Private Ltd. 5. Shri……………..declared that the said X Y Private Ltd., has a clear and marketable title to the said properties and that the said X Y Private Ltd. was seized and possessed of and otherwise well and sufficiently entitled to the said properties. 6. Shri……………..confirmed that there was no mortgage, charge or lien or statutory tenancy or other encumbrances or attachment on the said properties or any part thereof in favour of any person, firm, company, corporation, society or any Government and that the said X Y  Private Ltd. has not entered into any agreement for sale, transfer or alienation of the said properties or any part thereof. 7. Shri……………..Branch Manager……………..Bank ……………..Branch ……………... accepted the deposit of title deeds made by Shri……………..in the presence of Shri………… and Shri……………..Officers of the……………..Bank……………..Branch ……………... 8. The above was read over to Shri……………..in the presence of Shri……………..and Shri ……………..Officers of the……………..Bank……………..Branch ……………..who were present at the Time of creation of the equitable mortgage and the said Shri. ……confirmed the same. First Schedule (Details of Title Deeds) Second Schedule (Short particulars of immovable properties) Dated……………..at……………..this day of……………..20 (Signature) Branch Manager, .......................Bank ....................Branch …………….. Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)

FORM OF REGISTRATION OF CHARGES CREATED BY A COMPANY/MODIFICATION OF CHARGES FORM No. 8 Registration No . ................................ Nominal Capital Rs............................ The Companies Act, 1956 Particulars of Charges created by a company registered in India/subject to which property has been acquired by a company registered in India/Modification of Charges [Pursuant to section 12511271135] Name of the company ................................ Presented by ............................................. 1. Date and description of the instrument creating the charge. 2. Amount secured by the charge/amount owing on security of the charge. 3. Short particulars of the property charged. If the property acquired is subject to charge, date of acquisition of property should be given. 4. Gist of the terms and conditions and extent and operation of the charge. 5. Names, addresses and description of the persons entitled to charge. 6. Date and brief descriptions of instrument modifying the charge. 7. Particulars of modification specifying the terms and conditions or the extent or operation of the charge in which modification is made, and the details of the modification. Signature............................... Name…................................ (In Block Capitals) Designation...................... Dated the...............................day of...............................20…… Download Word Document In English. (Rs.5/-) Download PDF Document In Hindi. (Rs.5/-)

ENGLISH MORTGAGE IN FAVOUR OF A BANK Download Word Document In English. (Rs.50/-) Download PDF Document In Hindi. (Rs.50/-) This indenture made at………………the………………day of………………between X Y Z Co. Ltd., a Company incorporated under the Companies Act, 1956 and having its registered office at ........................... hereinafter referred to as the "Mortgagor" (which expression shall unless be repugnant to the context or meaning thereof be deemed to include its Successors and permitted assigns) of the ONE PART and.................Bank, a banking corporation constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and having its registered office at………………and amongst other places a Branch…………hereinafter called the Mortgagee, (which expression shall unless be repugnant to the context or meaning thereof be deemed to include its Successors and assigns) of the OTHER PART. WHEREAS the Mortgagor is a company incorporated under the Companies Act, 1956 and having authorised share capital of Rs. .................divided into………………shares of Rs………………each and carrying business of………………at……………… AND WHEREAS the Mortgagor is absolutely seized and possessed of or otherwise well and sufficiently entitled to the land and premises bearing Plot No ………………Survey No……… situate, lying and being at Village………………Taluka………………within the Registration District and Sub District of………………and more particularly described in the First Schedule hereunder written and hereinafter referred to as the said land. AND WHEREAS the Mortgagor has erected factory and buildings on the said land and installed machineries, plants and fixtures, the details of which have been given in the Second Schedule hereunder. AND WHEREAS the Mortgagor is in need of Rs ………………for the purposes of purchase of some machineries and working capital and has approached the Mortgagee to grant loan of Rs . ...................... which the Mortgagee has agreed to do upon having the repayment thereof with interest secured to it in the manner hereinafter appearing. NOW THIS INDENTURE WITNESSETH THAT in pursuance of the said agreement and in consideration of the sum of Rs ………………at or before the execution of these presents lent and advanced by the mortgagee to the mortgagor (the receipt whereof the Mortgagor doth hereby  acknowledge and of and from the same doth hereby release and discharge the Mortgagee), the Mortgagor doth hereby covenant with the Mortgagee that the Mortgagor shall repay to the Mortgagee the said sum of Rs………………(Rupees………………) (hereinafter referred to as the said principal sum) together with interest for the same in meantime at the rate of………………per cent per month from the date of these presents by equal monthly payments, the first of such payments shall be made on the………………day of..................... now next and the subsequent payments shall be made regularly before 10th of each month and shall in case and so long as the said principal sum or any part thereof shall remain unpaid, pay to the Mortgagee interest on the said principal sum or so much thereof as shall for the time being remain unpaid at the time and the rate aforesaid. Provided always and it is hereby agreed and declared that if default shall be made in payment of any instalment of interest hereby reserved or any part thereof at the time hereinbefore appointed in that behalf, then the unpaid instalment of interest or part thereof shall be added to the principal sum for the time being then due and be payable from time on the day hereinbefore appointed for the payment of interest on the principal sum on the footing of compound interest computed at the same rate aforesaid with rests made on monthly on the date hereinbefore provided for payment of interest and all such compounded interest shall be a charge on the said properties, structures and machinery hereby mortgaged and charged provided however that this provision shall not be deemed to authorise the Mortgagor to allow any interest to fall in arrears nor shall it in anywhere prejudice, limit or affect the powers of the mortgagee to take any legal proceedings or other action under these presents to recover the interest or other moneys due under these presents that may have been in arrears and remain unpaid of the said agreement and in consideration of the premises, the mortgagor doth hereby grant, convey, transfer and assure unto the mortgagee all that piece or parcel of land together with all the buildings, messages and tenement now standing thereon or which may hereafter be erected upon or any of them or any part thereof bearing Plot No.. AND THIS INDENTURE ALSO WITNESSETH THAT in pursuance ............... Survey No . ………………situate, being and lying at Village………………Taluka………………within the Registration District and Sub District of more particularly described in the First Schedule  hereunder written and delineated on the Plan thereof hereto annexed and thereon shown surrounded by a red coloured boundary line. Together with all and singular, the houses, outhouses, wells, water, water courses, ways, paths, gullies, passages, lights, liberties, privileges, easements, advantages and appurtenances whatsoever to the said land, machineries, and  structures, appertaining or with the same or any part thereof now or heretofore occupied or enjoyed or reputed or known as part, parcel or member thereof or appurtenant thereto and all the estate, right, title, interest, claim and demand of the Mortgagor into and upon the said land and buildings or any part thereof, to have and to hold the said land and buildings and all other premises hereinbefore expressed to be hereby granted with all and every of their appurtenances unto and to the use of the Mortgagee, subject to the proviso for redemption hereinafter  provided. AND THIS INDENTURE FURTHER WITNESSETH THAT in further pursuance of the said agreement and in consideration of the premises, the Mortgagor doth hereby assign, transfer and assure unto the  Mortgagee all and singular the machineries, plants, fixtures, engines, boilers, motors, equipments, accessories, chattels and things, (whether fixed or movable and whether attached to the said land), the detailed particulars of which have been given in Second Schedule hereunder written, which now are or which may at any time hereafter during the continuance of this security be affixed, installed or erected or be brought in or placed upon the said land and buildings by the Mortgagor for the purpose of its business (all such plants and assets hereinafter referred to as the said structures and machineries) and all the estate, right, title, interest, claim and demand of the Mortgagor unto and upon the said structures and machineries, to have and to hold the said structures and machineries, unto the mortgagee absolutely subject to the proviso for redemption hereinafter contained. AND THIS INDENTURE ALSO WITNESSETH THAT the mortgagor hereby charges in favour of the Mortgagee all the property and assets of the Mortgagor for the time being both present and future other than the mortgaged premises including its goodwill, uncalled capital, book debts and outstanding monies, held in cash or in bank accounts, funds  created by the Mortgagor' and the investments for the time being representing the same (hereinafter referred to as "all assets") with the payment of all moneys for the time being owing by the Mortgagor under these presents and such charge shall rank as floating charge and shall in no way hinder or prevent the Mortgagor from selling, leasing, mortgaging, charging, transferring or otherwise disposing of or dealing with in the ordinary course of business for the purpose of carrying on the same, but the Mortgagor will obtain prior consent of the Mortgagee before creating any encumbrance upon all assets charged or any part thereof ranking in priority to or pari passu with the security hereby constituted. PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED THAT if the Mortgagor shall pursuant to the covenant in that behalf hereinbefore contained on the………………day of.....................20………………pay to Mortgagor the sum of Rs ……………… with interest for the same at the rate and in manner hereinbefore  mentioned and also other moneys payable by law by the Mortgagor or under these presents, hereinafter referred to as the Mortgage debt, then in such case the Mortgagor shall upon and at the costs, charges and expenses of the Mortgagor reconvey the lands and buildings and the said structures and plants and release all assets from the charge hereby created (all of them hereinafter referred to as the Mortgaged premises) unto and to the use of the Mortgagor or as it may direct and shall also deliver to the Mortgagor, this Mortgage deed and or documents relating to mortgaged premises which shall be in the possession or power of the Mortgagee. (2) The Mortgagor hereby covenants with the mortgagee as follows: (i) That the Mortgagor is the absolute owner of the mortgaged premises and it is authorised to dispose of the same and the said mortgaged premises are free from any encumbrances, charge or lien whatsoever. (ii) That if the Mortgagor fails to pay the said principal sum or interest thereon or any part thereof or commits default in the performance or observance of any of the covenants, conditions or provisions herein contained and on the part of the Mortgagor to be observed and performed then the Mortgagee shall be entitled and authorised to enter into and upon and take possession of the mortgaged premises and thenceforth quietly to hold, possess and enjoy the same and receive the rents, income, profits and benefits thereof without any denial, let, eviction, interruption, claim or demand by the Mortgagor or by any person or persons whomsoever. And that in such case the Mortgagee shall pay all the outgoings of the mortgaged premises as the agent of the Mortgagor and shall appropriate the surplus of the rents, profits and income over the outgoings first in payment of the interest accruing to the Mortgagee under these presents and thereafter towards the principal sum due under these presents. And that the Mortgagor hereby indemnify and keep indemnified the mortgagee from and against all and all claims, demands, charges and encumbrances on the mortgaged premises whatsoever. (iii)That the Mortgagor and his legal heirs, executors, administrators, assigns or all other persons lawfully or equitably claiming or entitled to claim any estate, right, title or interest into or upon the mortgaged premises or any of them or any part thereof respectively shall and will from time to time and at all times hereafter at their own  cost execute, make and do or cause or procure to be executed made and done every such assurance, act and thing for further or more perfectly assuring all or any of the mortgaged premises unto and to the use of Mortgagee as shall be reasonably required. (iv)That all assets aforesaid are the absolute property of the Mortgagor and at the sole disposal of the Mortgagor and free from any charge or encumbrance. (3)The Mortgagor doth hereby further covenant with the Mortgagee as follows: (i)During the continuance of these presents and the security hereby created, the Mortgagor shall pay all the ground rents, rates, taxes, assessments, dues, duties and outgoings payable in respect of the mortgaged premises immediately the same shall have become due. (ii)During the continuance of these presents and the security hereby, the Mortgagor shall keep the mortgaged premises and every part thereof in good and substantial state of repair and working order and will, also keep the same insured in the joint names of the Mortgagee and the Mortgagor against loss or damage by fire, flood, earthquake, cyclone, typhoon, hurricane, lightening, explosion and other acts of God as also by riot, strikes, or other civil commotions or revolutions as also by acts of enemies during war or other risk of war or such of the aforesaid or other risks as may from time to time be required by the Mortgagee to be insured against and their full value (to be determined by the Mortgagee at its sole discretion) with any insurance company approved by the Mortgagee and the Mortgagor shall pay all premia for renewal of such insurance or insurances one week before the same shall become due and will deliver all policies of such insurance and all receipts for premia therefor to the Mortgagee. And the Mortgagor shall not at any time hereafter during the continuance of any such insurance as aforesaid do or cause or allow to be done any act or commit any default whereby the said insurance may be rendered void or voidable or on increased premium may become due therefor. (iii) In case the Mortgagor makes default in keeping the mortgaged premises or any part thereof in good and substantial repair and working order or in paying the ground rents, rates, taxes, dues, assessments, duties as aforesaid or to effect or keep up such insurance or insurances as aforesaid and pay the renewal premia therefor in manner aforesaid then in such case the Mortgagee may repair and keep in good and substantial repair and working order the mortgaged premises or any part or item thereof and pay any such ground rents, rates, taxes, assessments, outgoings, dues and duties and to insure and keep the mortgaged premises insured for their full value or any less sum and for such time as the Mortgagee shall think proper and to pay the renewal premia therefor and all moneys by the Mortgagee in so doing shall on demand be forthwith repaid by the Mortgagor to the Mortgagee with interest at the rate aforesaid from the time of the same respectively having been expended and until such repayment, the same shall be a charge upon the mortgage premises together with the principal sum and interest hereby secured as if they formed part thereof. (iv) The Mortgagor shall permit the Mortgagee, its agents, either alone or with its officers, employees and others from time to time and at all reasonable times to enter into and upon the said Lands and Building and to inspect the same and the structures and machineries and the parts thereof and if upon such inspection it appears to the Mortgagee that the said Land and Buildings and structures and machineries or any of them or any part thereof require repairs or replacement, the Mortgagee shall give notice thereof to the Mortgagor calling upon the Mortgagor to repair or replace the same including the structures and machineries and upon the failure of the Mortgagor to do so within one month of the date of such notice it shall be lawful for but not obligatory upon the Mortgagee to repair or replace the same or any part thereof at the expenses in all respects of the Mortgagor and such expenses together with interest thereon at the rate aforesaid shall until repayment be a charge upon the mortgaged premises and form part of the mortgaged debt and carry interest at the rate, aforesaid. (v) The Mortgagor shall not without the prior written consent of the Mortgagee, remove the structures or machineries or any part thereof from the said Land and Buildings and in case it removes any structures, machinery or any part thereof with the consent of the Mortgagee, the Mortgagor shall replace the same by structure or machinery of  equivalent nature and equal value provided that in the event of the Mortgagee agreeing that any such part of the structure or machinery so removed as aforesaid is or has become redundant, worn out or  obsolete and need not be replaced, the same may be sold by the Mortgagor and the sale proceeds applied towards satisfaction or payment of the mortgaged debt. (vi)If the market value of the mortgaged premises (excluding the  goodwill) depreciates in the opinion of the Mortgagee, the Mortgagee may call for further security to their satisfaction and if further security be not given to the Mortgagee then and in such case the Mortgagor shall within a period of three months from written notice to that effect being given by the Mortgagee reduce its indebtedness to the Mortgagee to an amount mentioned by the Mortgagee in this regard. (vii)Save and except as provided in the clause………relating to the floating charge on all assets, the Mortgagor shall not at any time during the continuance of this security sell or dispose off the mortgaged premises or any part thereof or create any mortgage, lien or charge by way of hypothecation, pledge or otherwise howsoever or other encumbrances of any kind whatsoever without the prior permission or consent of the Mortgagee in writing and the mortgaged premises and all parts thereof shall remain and continue to remain free from any encumbrance, charge or lien whatsoever during the continuance of these presents. (viii) During the currency of these presents the Mortgagor shall keep a minimum margin of fifty percent between the market value of the mortgaged premises and the amount of the outstanding loan with interest thereon: PROVIDED FURTHER AND IT IS HEREBY AGREED AND DECLARED AS  FOLLOWS: (4) (i) It shall be lawful for the Mortgagee at any time or times hereafter without any further consent on the part of the Mortgagor to sell the mortgaged premises or any part thereof either by public auction or private contract and the structures and machineries either together with the said Land and Buildings or separately therefrom with liberty to make any arrangements as to the removal of the structures or machineries sold separately from the said Land and Buildings and either with or without any special conditions or stipulations relative to title or evidence of title or other matters as the Mortgagee may think fit with power to buy in the mortgaged premises or any part thereof at any sale by auction or to rescind or vary any contract for the sale thereof and to resell the mortgaged premises or any part thereof which shall have been so bought in or as to which the contract for sale shall have been so rescinded without being answerable or responsible/liable for any loss or diminution occasioned thereby. And with power also to execute assurances and give effectual receipts for the purchase money and to do all other acts and things for completing the sale which the person or persons exercising the power of sale shall think proper and the aforesaid power shall be deemed to be a power to sell and concur in selling the mortgaged premises without the intervention of any Court of Law within the meaning of section 69 of the Transfer of Property Act, 1882 or any other law for the time being in force and it is hereby further agreed and declared that the sale proceeds of the property so sold shall be applied in the first place towards the costs and expenses attending such sale or otherwise incurred in relation to this security and in the next place will be appropriated towards the principal sum and interest payable thereon under these presents and the balance if any shall be paid to the Mortgagor; provided that the power of sale shall not be exercised by Mortgagee unless and until the Mortgagor commits default in making payment of any instalment of the said principal sum or any part thereof on the days appointed for payment thereof and for the period of three calendar months next after the notice in writing requiring the payment of any instalment of the said principal sum or such part thereof as may for the time being be due shall have been sent to the Mortgagor by registered post acknowledgement due addressed to its last known place or by leaving at the registered office of the Mortgagor or affixed to some part of the said Land and Building and interest amounting to at least Rs. 5,000 (Rupees Five thousand only) shall be in arrears and remain unpaid for three calendar months after becoming due. Any such notice as aforesaid as well as any other notice required to be served upon the Mortgagor shall be sufficient and valid although dated and served on any day before the due date and although not addressed to any person or persons by name or description and although any person or persons affected thereby may be absent, unascertained or under disability. (ii)Without prejudice to all rights conferred on the mortgagee by section 69, Transfer of Property Act, the purchaser upon any sale purporting to be made in pursuance of the aforesaid power in that behalf shall not be bound or concerned to see or inquire whether any of the causes/circumstances mentioned in the clause last hereinbefore contained has happened or existed or whether any default has been made by Mortgagor in making payment of any moneys or whether any instalment or part thereof remains owing on this security or whether any such notice has been served or left as aforesaid or otherwise as to the necessity or expediency of the conditions subject to which such sale is made or the sale will not be affected by express notice that no default has been made or notice given or left or affixed as aforesaid or that any such sale is otherwise unnecessary, irregular or improper and notwithstanding any such irregularity in making or effecting such sale, the purchaser or purchasers shall acquire, clear and marketable title to the property acquired and such sale will be deemed to be validly made within the powers of the Mortgagee. The Mortgagor shall be entitled to the remedy of damages in respect of any breach of the provisions hereinbefore contained or any irregularity in such sales. (iii) Upon any such sale as aforesaid, the receipt of the Mortgagee for the purchase money shall effectually discharge the purchaser or purchasers therefor and that no purchaser shall be concerned to see to the application or non application of the purchase money or being answerable for the loss or misapplication or non application thereof. (iv) The Mortgagee shall be entitled to exercise the power of sale as aforesaid given, by any person or persons who shall for the time being be entitled to receive and give discharge for the moneys owing on the security of these presents and the Mortgagee shall not be answerable or accountable for any involuntary losses which may happen or in about the execution of the aforesaid powers or trusts or any of them. PROVIDED FURTHER AND IT IS HEREBY AGREED AND DECLARED AS FOLLOWS: (5) (1) The Mortgagee in addition to any other powers hereby conferred on it without any further consent or concurrence of the Mortgagor shall have power to appoint in writing a Receiver or Receivers of the mortgaged premises (including the structures and machineries) to receive the rents, profits and income thereof under the provisions of section 69A of the said Transfer of Property Act and in that event shall be at liberty and entitled to appoint any officer of the Mortgagee or any other person or persons as such receiver or receivers by writing signed by the Mortgagee or on its behalf and all the powers, provisions and trusts contained in the said section 69A of the said Transfer of Property Act shall apply to the Receiver or Receivers appointed by the Mortgagee. (ii) The receiver or receivers appointed by the mortgagee shall be deemed to be agent or agents of the Mortgagors and the Mortgagor shall be liable for the acts or default of the receiver or receivers. (iii) The Mortgagor may with the prior written consent of the Mortgagee deal with its book and other debts and assets in due course of business on the express understanding that the same and all proceeds thereof and documents therefor are always kept distinguishable and held in trust for the Mortgagee and after the appointment of receiver or receivers the Mortgagor shall not create any mortgage, charge, lien or encumbrance upon or over such debts and assets or any part thereof without the consent in writing of the Mortgagee. (iv) The Mortgagor shall not exercise the power of grant of lease as contained in section 65A of the Transfer of Property Act without the prior written consent of the Mortgagee. (v) The Mortgagor may retain possession of the mortgaged premises and receive the rents, profits and advantages of the same, until the Mortgagee shall be entitled to take possession thereof under these presents and shall take possession thereof accordingly. (vi)Notwithstanding anything contained in sections 61 and 67A of the Transfer of Property Act, the Mortgagee may hold two or more mortgages executed by the Mortgagor including these presents and the mortgagor shall have the right to obtain the same kind of decree under section 67 of the Transfer of Property Act. The Mortgagor may sue and obtain such decree on any one of such mortgages without being bound to sue on all such mortgages in respect of which the mortgage moneys shall become due and payable by the Mortgagee. (vii)If the Mortgagor makes default in the repayment of the mortgaged debt or any part thereof or fails to comply with any of the terms and provisions of these presents, the Mortgagee shall be entitled to take over the management of the whole concern/undertaking(s) and business of the Mortgagor. On taking over the management of the mortgagor's business, the Mortgagee may transfer such business by way of lease or sale and realise all the properties and assets mortgaged to the Mortgagee hereunder. If the Mortgagor makes default to such extent that the mortgagee decides to take over the management of the Mortgagor's business, it shall give a notice in writing to the Mortgagor and on service of such notice, the Mortgagor shall hand over the charge and management of the whole of the business and undertaking of its concern to the Mortgagee and on any transfer of any of the properties and assets made by the Mortgagee in exercise of any of the powers under the foregoing provisions, all rights in or to the property or assets transferred shall vest in the transferee as if the lease or sale had been made by the Mortgagor and the Mortgagee shall have the same rights and powers in respect of the goods manufactured or produced wholly or partially from goods forming part of the security created under these presents as the Mortgagee has with respect of the original goods and in case the Mortgagee takes over the management of the business and concern of the Mortgagor under the foregoing provisions, the Mortgagee shall be deemed to be the owner of the assets and concern of the Mortgagor for purposes of all suits by or against the Mortgagor and may sue and be sued in the name of the Mortgagor provided that if the management of the Mortgagor is taken over by the Mortgagee and/or any property is transferred, all costs, charges, and expenses properly incurred by the Mortgagee incidental to such management and/or transfer shall be recoverable from the Mortgagor and the moneys which shall be received by the Mortgagee from such management and/or transfer and realisation shall be held by the Mortgagee in trust and be applied first in payment of costs, charges and expenses of taking over the management and/or transfer of any such property then in payment of the costs, charges and expenses incurred by the Mortgagee. Thereafter balance shall be appropriated by the Mortgagee towards interest due under these presents in payment of principal sum and the residue of such moneys, if any, shall be paid over to the Mortgagor or the persons entitled thereto; provided further that the mortgagee may appoint any person or persons for taking over the management of the whole concern/undertaking(s) and business of the Mortgagor and such person or persons may be appointed as Directors in place of or in addition to the directors of the Mortgagor and appointment of such directors by the Mortgagee may be made on such terms and conditions, as the Mortgagee may deem fit and proper. (viii) In the following circumstances, the principal sum will become due immediately and the mortgagee may require the Mortgagor to pay the Mortgage debt in full: (a) if the mortgagee has reason to believe that the mortgagor has given false or misleading information or any material particular for securing debt from the Mortgagee; or (b) if the Mortgagor fails to comply with any of the terms of these presents; or (c) the Mortgagee has reason to believe that the Mortgagor is unable to pay his debts or proceedings for liquidation against the Mortgagor have commenced; or a scheme of compromise and/or amalgamation is filed/pending in a Court of Law; or (d) if the properties and assets hereby mortgaged to the Mortgagee and as security for the monies hereby secured are not insured and kept insured by the Mortgagor or the value of the mortgaged premises has depreciated by more than such percentage as shall be fixed by the Mortgagee and the Mortgagor has failed to furnish further security or if the security becomes insufficient within the meaning of section 66 of the Transfer of  Property Act; or (e) if the Mortgagor has removed machinery or part or parts thereof from the said Land and Buildings without the written consent of the Mortgagee; or if it is necessary for Mortgagee to protect his interest; or (f) if the Mortgagor commits default in the payment or any instalment of the said principal sum for a period exceeding one month; or if any interest payable under these presents exceeds Rs. 5,000 and shall be in arrears and unpaid for one month after it becomes due; or the Mortgagor commits default in the observance or performance of any of the covenants, conditions or provisions of these presents; or if the Government or any public authority acquires or take over the mortgaged premises or any part thereof for public purposes. The decision of the Mortgagee on the question whether any of the above events has happened, shall be final and conclusive and the Mortgagor shall not be entitled to raise objection that the above events have not happened. AND IT IS HEREBY FURTHER AGREED AND DECLARED AS FOLLOWS: (6) (i) If the Mortgagee takes possession of the mortgaged premises or any part thereof or a receiver or receivers have been appointed, it shall be lawful for but not obligatory upon the Mortgagee or Receiver or Receivers as the case may be, to carry on the business of the Mortgagor with the mortgaged premises. If the Mortgagee or receiver or receivers carry on the business, they may conduct the same as they may deem fit and proper in its or their absolute discretion and for the purposes of the said business, the Mortgagee or receiver or receivers may appoint and employ such agents, managers, engineers, solicitors, accountants, servants and workmen upon such terms and conditions as to remuneration or otherwise as the Mortgagee or the Receiver or Receivers may think fit and proper and to repair and or dispose off such of the machineries and effects of the Mortgagor as shall be worn out, damaged or lost or otherwise become unfit in any way for use and generally to do or cause to be done all such acts, deeds and things and to enter into all such arrangements or contracts respecting the mortgaged premises or the working of the same or any part thereof as the Mortgagee or the Receiver or Receivers could do if he or it were absolutely entitled thereto and without being responsible in any way for any loss or damage which may be occasioned thereby (ii) If the Mortgagor acquires any land, premises, buildings, structures in addition to the mortgaged premises during the continuance of this security or it instals, fix any machinery, equipments, tools, utensils, appliances, accessories, articles and things which may at any time hereafter during the continuance of this security be affixed, installed or erected or brought in or upon the mortgaged premises or used in connection therewith and which may belong to the Mortgagor or are capable of being transferred by the Mortgagor and either in addition to or in substitution for the said Land and Buildings and the structures and machineries hereby mortgaged or any part thereof shall form part of the mortgaged premises and after acquisition, obtaining, getting such properties, machineries, etc., the Mortgagor shall execute in favour of the Mortgagee such mortgage, pledge, charge, hypothecation or other instruments as may be required by the Mortgagee granting, conveying, assigning and assuring the same to the Mortgagee upon the same  and conditions as are herein contained and for the purposes aforesaid, the Mortgagor shall do or cause to be done at its own costs all such acts, deeds and things as may be required by the Mortgagee (iii) The Mortgagee shall also have the following rights, until the mortgaged debt or part thereof is fully paid: (a)To appoint and remove a Director or Directors on the Board of Directors of the Mortgagor from time to time to protect its interests Mortgagee shall not be liable to  retire by rotation and will not require to hold any qualification shares, prescribed by the Articles of Association of the Mortgagor subject, however, that the Director or Directors appointed by the (b) To appoint an auditor for supervising the accounts of the Mortgagor and for ensuring that the monies advanced by the Mortgagee to the Mortgagor are put to the best use of the Mortgagor and used for the purposes approved by the Mortgagee. The Mortgagor shall be liable to pay the remuneration to the auditor appointed by the Mortgagee (iv) If during the continuance of the security under these presents, the mortgaged premises or any part thereof shall be taken up by Government and/or by any public authority for a public purpose under Land Acquisition Act or under any other law, the Mortgagee shall be entitled to receive the whole of the compensation which the Mortgagor shall be entitled or be declared entitled to and to apply the same or a sufficient portion thereof towards repayment of the said principal sum and interest and all costs of all proceedings relating to the proceedings of land acquisition of the mortgaged premises or any part thereof shall be borne by the Mortgagor. (7) The Mortgagor doth hereby irrevocably appoint the Mortgagee and the Receiver or Receivers to be appointed under these presents to be its attorney or attorneys and in the name and on behalf of the Mortgagor to execute for all or any of the purposes aforesaid and do all such acts, matters, deeds and things which the Mortgagor ought to do and execute under the covenants contained in these presents and generally to act in the name of the Mortgagor in the exercise of all or any of the powers by these presents conferred on the Mortgagee or any Receiver or Receivers appointed by it. (8) Any notice required to be served on the Mortgagor for the purposes of these presents be deemed to be sufficiently served if it is sent by registered post acknowledgement due or personally delivered to any of the principal officer of the Mortgagor (9) The stamp duty, registration charges and all the costs, charges and expenses incidental to or in connection with these presents or for the protection and security of the mortgaged premises and for the demand realisation and recovery of the principal sum, interest and other moneys payable by the Mortgagor to the Mortgagee shall be borne by the Mortgagor and shall be paid by him on demand with interest thereon at the rate aforesaid, from the time the same have been incurred by the Mortgagee upto the time of its repayment. Such costs, charges, expenses and interest thereon shall be a charge upon the mortgaged premises. (10) The marginal notes hereto are for the purpose of reference only and shall not in any way control or affect the interpretation of these presents. (11) This Agreement shall be executed in duplicate. The original shall be retained by the Mortgagee and the duplicate by the Mortgagor The First Schedule above referred to The Second Schedule above referred to Annexure Plan In witness whereof the parties hereto have executed these presents the day and year first hereinabove written. WITNESSES 1 The common seal of X Y Z Co. Ltd., the withinnamed Mortgagor was hereunto affixed pursuant to a resolution of the Board of Directors of the said Company in that behalf on the ……..day of.............. 20……… 2 The common seal of Bank the withinnamed Mortgagee, was hereunto affixed pursuant to a resolution of the Board of Directors of the said Company in that behalf on the ............ day of……………20……….

USUFRUCTUARY MORTGAGE This deed of mortgage made at………………this………………day of...........20…………… between A, son of………………resident of………………hereinafter called the "mortgagor" of the ONE PART and B, son of...................resident of………………hereinafter called the "mortgagee" of the OTHER PART. THIS DEED WITNESSETH AS FOLLOWS: (1) In consideration of the sum of Rs ………………lent and advanced by the mortgagee to the mortgagor (the receipt of which the mortgagor hereby acknowledge), the mortgagor hereby doth grant and transfer unto the mortgagee all that property bearing house No ……situated on the ………………Road………………within the Registration District of………………more particularly described in the Schedule hereunder (hereinafter referred to as the said property) including the right to enter into the possession of the said property on the execution of these presents and to hold the same, until repayment of mortgage money as aforesaid with interest at ………………per cent per annum. (2) The mortgagee shall collect the rents and profits of the said property and after paying the government revenue, municipal taxes and other assessments and taxes assessed, imposed or payable on the said property, shall appropriate the same towards the interest and principal due to him hereinunder. The mortgagee shall maintain accounts of the income and expenses incurred along with the vouchers and the mortgagor shall be entitled to inspect at all reasonable hours and take copies from such accounts (3) The mortgagor may redeem the said property at any time after..................years from these presents on repayment of balance payable by the mortgagor to the mortgagee on the said mortgage. (4) The mortgagee shall be authorised to grant lease of the said property or any part to any person or persons as he may choose, but the said lessee or lessees shall not be entitled to continue in possession of the said property on and from the date of the mortgage money and interest has been repaid by the usufruct of the said property or by the mortgagee in terms of clause 3 hereof. (5) All taxes, land revenue, rates, assessments in respect of the said property will be borne by the mortgagee. The mortgagee shall also be entitled to incur necessary expenses for the repairs and white  washing of the said property. All such payments made by the mortgagee and the expenses incurred by the mortgagee shall be recovered from the profits and income of the said property (6) On the repayment of the mortgaged money and interest due thereon by the usufruct of the said property or on earlier payment of the mortgage money and interest due thereon by the mortgagor in terms of clause 3 thereon, the mortgagor shall be entitled to redeem the mortgage and to reconveyance of the said property by actual restoration of possession thereof with the title deeds and receipts of taxes, rates, assessments and the books of accounts maintained by the mortgagee. (7) In the event of the value of the said property failing short of the mortgage money hereby secured for any reason whatsoever, the mortgagor shall furnish additional security for the deficit amount and if he is not able to furnish additional security, the mortgagor will be personally liable to pay the said sum within a period of one month from the date of service of notice by the mortgagee. IN WITNESS WHEREOF the parties hereto have hereunto set their respective hands the day and year first hereinabove written. The Schedule above referred to WITNESSES 1 Signed and delivered by A, the withinnamed mortgagor 2. Signed and delivered by B, the withinnamed mortgagee Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)

SIMPLE MORTGAGE DEED IN THE FORM OF A DEED POLL I, X…………..son of…………..resident of…………..has borrowed a sum of Rs…………(Rupees …………..) from Y, son of ………….. resident of and I hereby promise to pay Rs…………...with interest at the rate of…………..% per annum on  hereinafter called the due date. And as a collateral security and for the consideration aforesaid, I hereby transfer by way of simple mortgage all that property described in the Schedule hereto hereinafter referred to as the said property with the intent that in case default is made in payment of the mortgage money on the due date, the said Y shall be entitled to sell the said property and realise and receive the whole or the balance or any sum payable from me under these presents. And I, X assure and covenant with Y that I am seized of or otherwise well and sufficiently entitled to the said property and there is no encumbrance or charge thereon. In witness whereof, the mortgagor has put his hand on this .................  day of…………..20……… The schedule above referred to WITNESSES 1 . 2. Mortgagor Download Word Document In English. (Rs.5/-) Download PDF Document In Hindi. (Rs.5/-)

AGREEMENT FOR HYPOTHECATION OF GOODS OF BUSINESS HOUSE Download Word Document In English. (Rs.25/-) Download PDF Document In Hindi. (Rs.25/-) This Agreement made at……………..on this……………..day of.....................20…………… between Shri……………..son of at present carrying on the business at……………..of……… in the name and style of M/s . ……………..as Proprietor(hereinafter referred to as the "Borrower") of the ONE PART and.....................Bank, a company incorporated under the Companies Act, 1956. and having its registered office at……………..and having amongst other place a branch at…………….. (hereinafter referred to as the "Bank") of the OTHER PART. WHEREAS the Borrower is in need of a sum of Rs…………….. and a credit facility of Rs……………for his day to day business purposes; AND the Borrower approached the Bank to lend Rs . ..................... and grant credit facility of Rs ……………..which the Bank has agreed on the Borrower executing these presents. NOW THEREFORE THESE PRESENTS WITNESSETH (1) That in pursuance of the said Agreement and in consideration of the Bank having granted a loan of Rs ……………..and to grant credit facility upto an amount of Rs ……………..for his day to day business purposes to the Borrower and in consideration of the premises aforesaid, it is hereby agreed and declared that all present and future goods, book debts and all other  movable assets of the Borrower including documents of title to the goods, outstanding moneys, receivables including receivable by way of cash assistance and/or cash incentives under the Cash Incentive Scheme or any other Scheme claims including claims by way of refund of customs/excise duties under the Duty Drawback Credit Scheme, or any other Scheme, bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights and the present equipments, computers, accessories and machineries listed in the Schedule hereunto and all future equipments, computers, accessories and machineries belonging to or in the possession or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout the world (including all such goods, other movable assets as may be in course of shipment transit or delivery) (hereinafter referred to as "the said goods and assets") shall stand hypothecated to the Bank by way of first charge (subject, however, to any charge in favour of any third party which may have been notified by the Borrower and accepted by the Bank as having priority over its own charge) as security for payment and Rs…………….. (Rupees……………..only) and all other moneys at any charge by the Borrower to the Bank on demand of a sum of Rs . …………….. time payable by the Borrower to the Bank under or in respect of all or some or any of the aforesaid credit facilities granted to the Borrower by the Bank from its……………..Branch or any other off ice/branch of the Bank (whether in India or elsewhere and whether accrued, accruing or contingent and whether solely or jointly with others). (2) It is hereby agreed and declared that the Bank shall charge interest on the outstanding(s) in the accounts opened in respect of the aforesaid credit facilities at the rate of……………..% per annum. However, the said rate can be varied depending upon the directives issued by the  Reserve Bank of India in this regard from time to time. If the Bank charges interest at a concessional rate or rates because of the credit facilities being granted by the Bank to the Borrower under the Interest Subsidy Scheme or any other Scheme(s) formulated by the Government and/or Reserve Bank of India and/or any other authority from time to time, the Borrower agrees, declares, confirms and affirms that in the event of the withdrawal, modification and/or variation of such Scheme(s), the concessional rate or rates of Interest shall stand withdrawn and the Bank will start to charge usual rate or rates of interest as applicable to such credit facilities and the Borrower shall pay to the Bank on demand the difference between such concessional rate or rates and the usual rate or rates of interest of the Bank applicable at the material time to such credit facilities and such difference shall become due and payable by the Borrower to the Bank from the date of withdrawal, modification and/or variation of such Scheme(s) becomes effective, interest shall be calculated respectively on the daily balance of such account(s) and be debited thereto on the last working day of the month. (3) That the Borrower declares and agrees that he will maintain a sufficient quantity and market value of the said goods and assets to provide the margins of security required by the Bank from time to time and if Bank feels any time that the margin of security is less, then the Borrower shall provide further goods and assets to restore such margins or pay the Bank the equivalent in cash. The Bank may at its sole and absolute discretion change the margin of security between the market value of the said goods and assets and amount lent and the Borrower shall be bound by it notwithstanding any margins earlier agreed to by the Bank. (4) The Bank may get the value of the goods and assets hypothecated, assessed by an appraiser appointed by the Bank and the Borrower shall render/give all assistance/co operation to such appraiser. The fees and expenses of such appraisement shall be borne by the Borrower and if not paid on demand will be debited to the Borrower's account and shall be a charge on the security created hereunder. (5) The Borrower shall keep all the goods and other movable hypothecated or otherwise charged to the Bank as security for the aforesaid credit facilities in good condition and fully insured against loss or damages as may be required by the Bank due to any reason whatsoever and particularly the machineries hypothecated to the Bank against the fire and or such other risk(s) as the Bank may from time to time stipulate in the joint names of the Borrower and the Bank, with an insurance company approved by the Bank and for such amount as the Bank may consider necessary and that the insurance policies shall be delivered to the Bank. If the Borrower falls to effect or renew such insurance, the Bank may, but without being obliged to do so, insure the said goods and other assets against the fire and other risks in joint names and debit the premium and other charges to the Borrower's account. In case of loss, or damage to the goods or assets insured by the Borrower or the Bank and the claim is made by the Borrower, the amount of compensation shall be received by the Bank. The Borrower hereby authorises the Bank to adjust, settle, compromise or referred to arbitration any dispute arising under or in connection any insurance and such adjustment, settlement, compromise and any award made on  such arbitration shall be valid and binding on the Borrower and also to receive all moneys payable under any such insurance or under any claim made thereunder and to give a valid receipt therefor, and that the amount so received shall be credited to the Borrower's account and the Borrower shall not raise any question that a larger sum might or ought to have been received or be entitled to dispute his liability for the balance remaining dues on any account or accounts after such credit, provided that the Bank may at its own absolute and unqualified discretion waive all or any of these requirements. (6) That the borrower agrees and confirms that the Bank, its Agents and Nominees shall be entitled, at all reasonable hours to enter any place where the goods and assets hypothecated are kept and inspect, and/or take particulars of all or any part of the said goods and assets and check any statements, accounts, reports, information and for the purpose of such entry to do all acts, deeds and things deemed necessary by the Bank including breaking open of any place where the hypothecated goods and assets and the books of account or other documents relating to the hypothecated goods and assets may be lying or stored or kept. If the Borrower commits default in payment of any money hereby secured or the performance of any obligation or any incident occurs which in the opinion of the Bank endangers this security the Bank will be authorised to take charge of, seize, recover, receive, take possession of, inter alia, by puffing its locks on the godowns and other places whether the hypothecated goods or assets, account books or other documents relating to the hypothecated book debts are lying or kept, and to appoint receiver or receivers to take charge of the said goods and assets and also all books of accounts, papers, documents and vouchers and other records relating thereto. The said receiver or receivers shall also be authorised to give notices and demands to debtors and third, parties liable therefor sue for recovery, receive and give receipts for the same and/or sell, realise, dispose off and deal within any manner including by tender or public auction or private contract and whether with or without the intervention of Court all or any part of the said goods and assets and to enforce, realise, settle, compromise, submit to arbitration and deal in any manner with any rights and debts or claims relating thereto and to complete any engagements and carry on the business of the borrower through agents, managers or otherwise. The Bank will not be bound to exercise any of these powers or be liable for any loss in the exercise thereof. (7) That the Borrower will submit to the Bank monthly statements of the goods and assets hypothecated to the Bank in form prescribed by the Bank from time to time with list of current insurance policies and amounts verified by certificates of the Borrower that the quantitie's and amounts stated are correct and that all the said goods and assets are fully covered by insurance. The Borrower agrees and undertakes to execute all documents and do all acts and things which the Bank may require to give effect hereto and the Borrower appoints the Bank and each of its Agents and Nominees as Attorney to do acts, things and deeds under these presents for and In the name of the Borrower. (8) That the Bank's rights or remedies shall not be prejudiced in respect of any present or future security, guarantee, obligation or decree for any indebtedness or liability of the Borrower to the Bank. (9) That the Borrower declares and confirms that all the goods and assets hypothecated hereunder are at present in existence and all the said goods and assets over which security may be created hereafter for all or some or any of the aforesaid credit facilities will be in existence at the time of creation of such security and are or shall be the absolute property of the Borrower at his/its sole disposal and free from any prior charge, lien or encumbrance except such charge, lien or encumbrance as have been notified to the Bank and accepted by it as having priority over its charge. It is hereby agreed and declared by the Borrower that whenever he will furnish security of any goods and assets to the Bank in future, the said goods and assets shall be unencumbered and disposable property of the Borrower and the Borrower shall not without the Bank's prior permission create any mortgage, charge, lien or encumbrance of any kind upon or over the same or on the undertaking property (whether movable or immovable) and assets except to the Bank nor suffer any such mortgage, charge, lien or encumbrance to affect the same or any part thereof, nor do or allow anything that may prejudice the security while the Borrower remains indebted or liable to the Bank in any manner without Bank's prior consent in writing. The Borrower shall also not borrow from other banks or financial institutions without the Bank's prior consent in writing. (10) Subject to the Bank's rights, powers and privileges under this agreement or otherwise, the Borrower, in the course of business may sell, dispose off or otherwise deal in the goods and assets hypothecated to the Bank, provided the margins of security are always maintained and on the terms that the Borrower shall make payment or deliver the proceeds of the goods or assets hypothecated, disposed off or transferred and the Borrower shall maintain separate accounts of the realisations, recoveries and insurance proceeds thereof of goods and assets hypothecated and all rights and interests in respect and all documents therefor and the Bank will be entitled to inspect the said account at any time. (11) That the Bank shall not be liable for any loss or damage to the goods and assets hypothecated to the Bank in terms of this Agreement from or in whatever cause or manner arising, whether such goods and assets shall be in the possession of the Bank or not at the time of such loss or damage, or the happening of the cause thereof. The Borrower shall at all times indemnify and keep indemnified the Bank and its agents, officers or nominees from and against all suits, proceedings, costs, charges, claims and demands whatsoever that may at any time arise or be brought or made by any person against the Bank and its agents, officers or nominees in respect of any acts, matters and things lawfully done or cause to be done by the Bank or its agents, officers or nominees in connection with the said goods and assets or in pursuance of the rights and power conferred to it or under this Agreement (12) That the Borrower shall display the Bank's name on the go down, factory and other places, where such goods and assets hypothecated to the bank and against which credit limits have been granted under these presents indicating that such goods and assets are hypothecated to the Bank (13) All the machineries, equipments and accessories (whether affixed with the land or building or not) hypothecated and charged to the Bank shall be treated as movable property and not as an immovable property and shall bear the name of the Bank indicating that the said machineries, equipments and accessories are hypothecated and charged to the Bank. The Borrower shall also exhibit in the factory at a conspicuous place a list showing the items of machineries, etc. hypothecated and charged to the Bank. (14) The Borrower shall pay all rents, rates, taxes, cesses, assessments and outgoings in respect of the said assets and machineries hypothecated to the Bank and if the Borrower makes default in making such payment, the Bank may without being obliged to do so, pay the same and the said sum shall be payable by the Borrower on demand, failing which the amount expended by the Bank shall be debited to the Borrower's account and shall be charged on the goods and assets. (15) Any notice to be served to the Borrower hereunder may be given by the Bank by sending at the address given above by post, by registered acknowledgement due or by personally delivering the same to the Borrower at its office. (16) All costs, charges and expenses incidental to these presents or of and incidental to or in connection with this security as well for the assertion or defence of the rights of the Mortgagee as for the protection and security of the goods and assets hereby hypothecated or for the exercise or any of the powers contained in these presents shall be paid by the Borrower on demand to the Mortgagee with interest thereon at the rate aforesaid from the time of the same having been so incurred and that until such repayment to the same shall be a charge on the goods and assets. (17) This Agreement shall be executed in duplicate, the original shall be retained by the Bank and the duplicate by the Mortgagee. IN WITNESS WHEREOF, the parties have executed these presents, the day and year first hereinabove written. The Schedule above referred to WITNESSES 1 Signed, sealed and delivered by Shri……………..for and on behalf of M/s ……………..as proprietor 2. Signed by……………..Bank through the hands of Shri ……………..Branch Manager of..............Branch, its authorised official for and on behalf of the Bank

Codicil to Will I, ____________________________ of _________, _________, Indian Inhabitant, residing at __________________________________________, hereby make this First Codicil as under:— 1. I have executed my last Will and Testament dated _________ under which I have appointed Sheri ______________________ and Sheri _______________________ as Executors of my said Will. 2.  By this Codicil I hereby bequeath and grant the property bearing Plot No. ____________________ together with structure standing thereon situate at ____________________ in the State of Gujarat and standing in my name to my relative ______________________ resident of __________________________. After my life the said Sheri ______________________________ shall be the absolute owner of the said property and notwithstanding the provisions of my aforesaid Will, none of my heirs or legal representatives shall have any right or claim to the said property. 3.  Sheri ________________________________ is in my relation and has been looking after my aforesaid property and has taken good care of the same on account of my own personal inability to do so. Out of affection for him, I have made the aforesaid bequest in his favour. 4. In all other respects, I confirm the provisions of my Will dated ___________. 5.  I have made this Codicil in sound health and mind and with full understanding and my no other heirs will be entitled to object to the same. In witness where of I have affixed my hands to this writing at ____________ this ______ day of _________ 200___. SIGNED AND DECLARED by the with in named ) _________________________ as and for his ) First Codicil to his last Will and Testament dated ) The ___________day of ________    ______ ) In the presence of us present at the same time ) Who at his request in his presence and in the ) Presence of each other have hereunto set and ) Subscribed our respective names as ) Attesting Witnesses: ) 1. 2. Download Word Document In English. (Rs.5/-) Download PDF Document In Hindi. (Rs.5/-)

SECOND MORTGAGE This mortgage made at……………..the……………..day of.....................between A, son of ……………..resident of..............., hereinafter referred to as the Mortgagor, of the ONE PART and B, son of……………..resident of……………..hereinafter  referred to as the Mortgagee of the SECOND PART. WHEREAS (1) By a Deed of Mortgage dated the……………..between A of the ONE PART and C of the OTHER PART and registered with the Sub Registrar of……………..under No ……………... of……………..20……………..on……………..day of……………..20……………..the said A, as owner of the property described in the Schedule hereto, mortgaged the same to Shri C for Rs ……………..with interest at the rate of……………..% p.a. subject to the redemption of the premises upon payment by the said A, his heirs, executors, administrators or assigns unto the said Q his heirs, executors, administrators or assigns, of the sum of Rs . ........ with interest at the rate of……………..% p.a. on the……………..day of……………..20…………….. (2) The said A, the Mortgagor could not pay the mortgage money and interest due and payable thereon to the mortgagee. (3) The said A, the Mortgagor has requested the Mortgagee to lend a sum of Rs . …………….. subject to the first mortgage hereinbefore mentioned. (4) The said Mortgagee has agree to lend to the said Mortgagor a sum of Rs ……………..at interest of……………..% per annum on having the repayment thereof secured to him by second mortgage. NOW THIS INDENTURE WITNESSETH THAT in pursuance of the said agreement and in consideration of the said sum of Rs lent and advanced by the Mortgagee to the Mortgagor on the execution of these presents (receipt whereof doth hereby admit), the said Mortgagor doth hereby grant unto the said Mortgagee, his heirs, administrators, executors and assigns all that piece or parcel of land bearing Plot No ……………..Hissa No ……………..Survey No ……... situate, lying and being at Village.....................Taluka……………..within the Registration District and Sub District of……………..and more particularly described in the Schedule hereunder written hereinafter referred to as the said premises together with all his rights, privileges, easements and appurtenances and all the estate, right, title, interest, claim and demand whatsoever of him the Mortgagor into and upon the said premises and every part thereof to have and hold the said premises forever and subject to the hereinbefore recited first Mortgage and the principal sum and interest thereby secured and subject also to the proviso for redemption hereinafter contained provided always that if the said A, his heirs, executors, administrators or assigns shall pay to the said B, his heirs, executors, administrators or assigns, the sum of Rs ……………..with interest for the same at the rate of per cent per annum from the date of these presents, then the said B, his heirs, executors, administrators or assigns, at the request of said A, his heirs, executors, administrators or assigns will reconvey the said mortgaged premises hereby granted and if the said sum of Rs ……………..with interest for the same at the rate of ……………..per cent per annum shall not be paid on the……………..day of…………….. or, then the Mortgagee, his heirs, executors, administrators or assigns will be authorised to enter into and upon the said mortgaged premises and may henceforth possess and enjoy the same and receive the rents and profits thereof, without any interruption, interference, eviction, claim or demand from or by any person or persons whomsoever, except in respect of the said first mortgage and it is hereby agreed and declared that the Mortgagee, his heirs, executors, administrators or assigns shall be authorised to sell the mortgaged premises hereby granted or expressed to be so, or any part or parts thereof, without any further consent of the Mortgagor, his heirs, executors, administrators or assigns, either subject to said first Mortgage or freed and discharged therefrom and either together or in lots and either by public auction or private contract or to rescind any contract for the sale thereof and to sell the same without being answerable for any loss or diminution in price and with full power to execute assurances, give receipts for the purchase money and to do other acts and things for completing the said sale, which the said mortgagee, his heirs, executors, administrators or assigns shall think proper and the proceeds of the sale of mortgaged property or any part thereof shall be applied by mortgagee first towards the cost and expenses attending such sale, or incurred in relation to this security and then in satisfaction of the moneys which shall then be owing on the first mortgage and in the last, the balance shall be appropriated towards the moneys payable under these presents and surplus, if any, shall be paid to the Mortgagor, his heirs, executors, administrators or assigns. And the Mortgagor hereby covenant that he is the absolute owner of the mortgaged premises and the said property is free from encumbrances, except the first mortgage recited above. IN WITNESS WHEREOF the parties have put hereunto set and subscribed their respective hands the day and year first hereinabove written. The schedule above referred to WITNESSES 1 Signed and delivered by the withinnamed Mortgagor 2. Signed and delivered by the withinnamed Mortgagee..................... Received the sum of Rs ……………..(Rupees……………..) from the withinnamed Mortgagee being the full consideration money withinmentioned to be paid by the Mortgagee to me. Rs…………….. I say received …………….. Mortgagor Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)

Memorandum by Parties Recording Equitable Mortgage MEMORANDUM RECORDING EQUITABLE MORTGAGE executed at _______ this _________ day of _________ 200___ between M/s. ABC Ltd. a Company incorporated under the provisions of the Companies Act 1956 having its registered office at _________ __________________________________________________________________, hereinafter referred to as “THE MORTGAGOR” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns) of the ONE PART; and XYZ of ___________, Indian Inhabitant having his address at _________________________________________________________________  (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his legal heirs, executors and administrators) hereinafter collectively referred to as “THE MORTGAGEE” of the OTHER PART; WHEREAS:— (a) The Mortgagor is the Owner of and well and sufficiently seized and possessed of office premises bearing No. ____ admeasuring about ________ sq.ft. (built up area) on the ______ floor of the building known as “ ___________________” situated at ______________________________________________ ___________ (hereinafter referred to as “the said office premises”) together with furniture and fixtures lying therein and are well and sufficiently entitled to five shares of Rs. 50/- each bearing distinctive Nos. ______ to _______ (both inclusive) contained in the Share Certificate No. ________ (hereinafter referred to as  “the said Shares”) issued by PQR  Co-operative Premises Society Ltd. The said office premises and the said shares  are hereinafter collectively referred to as “the said premises” and are more particularly described in the First Schedule hereto. (b) Pursuant to the General Body Resolution passed at the 11th Annual General Meeting of the Mortgagor held on _________ day of __________ 200__, the Board of Directors of the Mortgagor are authorized to borrow from time to time the required amounts for the purpose of the Mortgagor company and are also authorized to Mortgage and/or charge all or any of the moveable and immoveable properties of the Mortgagor Company. (c)  The Mortgagor being in need of finance for their business purposes, requested the Mortgagee to provide the said finance. (d) Pursuant to the said request of the Mortgagor, the Mortgagee has advanced to the Mortgagor a sum of Rs. __________/- (Rupees ______________________only)  against the security of the said premises by way of equitable Mortgage by deposit of the Title Deeds relating to the said premises  as mentioned in the  list in the second Schedule hereunder written with intent to create a security on the said premises for repayment of the said loan with interest. (e) The parties are desirous of recording the fact of the said mortgage by deposit of title deeds created by the Mortgagor in favour of the Mortgagee. NOW IT IS RECORDED BY AND BETWEEN THE PARTIES AS UNDER:— 1.       In consideration of the sum of Rs. ______________/- (Rupees ____________________________ only) advanced by the Mortgagee to the Mortgagor, the Mortgagor doth record and confirm that on ___________ day of 200___ it has deposited with the Mortgagee the Title Deeds of the said premises described in the First Schedule hereunder written and which said Title Deeds are as enlisted in the Second Schedule hereto. 2.       The Mortgagor agrees and covenants with the Mortgagee to repay the said amount on or before the         _________ day of _____________ 200____  (hereinafter  referred as the “due date”) together with agreed rate of interest thereon as mentioned hereinafter. 3.       The Mortgagor agrees that in the meanwhile and until repayment of the said principal amount in full, it will pay to the Mortgagee interest on the said Mortgage debt at the rate of  18% (eighteen percent) per annum. The said interest for every quarter shall be paid in advance until the said principal sum is repaid in full. 4.       If the Mortgagor fails to pay any installment of interest in advance as aforesaid or commits breach of any other term of these presents or commits any act which in the opinion of the Mortgagee will be prejudical to the interest of the Mortgagee and/or the security created, the Mortgagee will be entitled to call back the principal debt whether the due date has expired or not together with all interest and compound interest accrued thereon and to enforce and realise the said security created in his favour on the basis of the agreed terms between the parties hereto. 5.       The Mortgagor declares and confirms that the Title deeds mentioned in the second Schedule hereunder written relating to the said premises described in the First Schedule hereunder written are deposited with the Mortgagee  with intent  to create an equitable Mortgage security for repayment of the aforesaid mortgage debt and the Mortgagee shall be entitled to hold the said security so long as the Mortgage debt and any other amount in respect thereof remains due and payable by the Mortgagor to the Mortgagee. 6.       The Mortgagor agrees and covenants with the Mortgagee that all costs, charges and expenses incurred by the Mortgagee for defending the title of the Mortgagor to the  said premises if need arises and for enforcement of the said security created in their favour shall be payable by the Mortgagor and shall be deemed to form part of the mortgage debt secured by the said deposit of title deeds. 7.       The Mortgagor agrees and covenants with the Mortgagee that, upon request of the Mortgagee but at the entire cost and expense of the Mortgagor, the Mortgagor shall execute and register in favour of the Mortgagee a legal Mortgage of the said premises with such powers and provisions and  in such form as the Mortgagee may require for further and better securing the said principal debt and interest. 8.       The Mortgagor  hereby declares and covenants with the Mortgagee as follows:— (a) That the Mortgagor has duly paid and discharged in  full all the dues and liabilities in respect of the said Premises including the Municipal outgoings, taxes, rates, maintenance charges etc. payable to the Society till date and shall continue to do so till the said Mortgage debt is fully repaid. (b)  That its title to the said premises is free from all encumbrances and reasonable doubts. (c)  That the Mortgagor is the sole and absolute owner and beneficiary of the said Premises and is absolutely entitled to the same and to all incidental rights thereof and to the use, enjoyment and occupation of the said Premises and except the Mortgagor no other person or persons have any right, title, interest, claim or demand of any nature whatsoever to the said Premises. (d)  That notwithstanding any act, deed, matter or thing whatsoever done, omitted by the mortgagor or any person or persons lawfully and equitably claiming by, from, through, or in trust for the mortgagor, they the Mortgagor have full power and absolute authority in it’s own right to mortgage the said property and/or to create the said security in favour of the Mortgagee. (e)  That neither the Mortgagor nor any one on its behalf has committed or omitted any act, deed, matter or thing whereby its holding  of the said shares and incidental rights thereto including the right to peaceful use, occupation, ownership and enjoyment of the said office premises and other rights and benefits in respect thereof may become or be prejudicially affected or encumbered in any manner or whereby the said shares and its other rights, title and interest therein may become liable to attachment and/or sale whether by a decree or order of any Competent Court or otherwise; (f) That the Mortgagor has not created or purported to create any tenancy, license, charge, lease, mortgage or lien over the said premises and no other person or party has any right, title, interest, claim or demand into or upon the same either by way of mortgage, gift, trust, inheritance, lease or otherwise and  there is no pending litigation of any kind whatsoever and further that henceforth the Mortgagor shall not enter into any agreement/writing with any third party for creating any rights of whatsoever nature in respect of the said Premises until and unless the entire mortgage debt is repaid to the Mortgagee in full. (g)  Neither any winding up petitions are pending against the Mortgagor before any court of law nor any winding up notices are received by the Mortgagor. (h)  The Mortgagor shall get the said charge created in favour of the Mortgagee by way of equitable mortgage registered with PQR Co-operative Premises Society Ltd., as also with the Registrar of Companies under the provisions of the Companies Act, 1956. Upon the aforesaid representations, declarations, and covenants, of the Mortgagor, the Mortgagee have lent and advanced the said sum to the Mortgagor. 9.       The Stamp duty and registration charges, if any, required, on this Memorandum as also all incidental cost and expenses thereof shall be paid and borne by  the Mortgagor. THE FIRST SCHEDULE ABOVE REFERRED TO: (Description of the said premises) THE SECOND SCHEDULE ABOVE REFERRED TO: (List of Title Deeds) IN WITNESS WHEREOF the parties hereto have executed these presents on the day and year find hereinabove written. THE COMMON SEAL OF the within named     ) ABC LTD., the MORTGAGOR above named     ) is hereunto affixed pursuant to the    ) Resolution of its Board of Directors ) passed in that behalf, on the ______   ) day of ___________ 200___ in the presence of ) (1) _______________, Managing Director and  ) (2)   __________________, Director and in    ) the presence of:-                           )] SIGNED, SEALED AND DELIVERED by    ) the within Named  XYZ  the MORTGAGEE  ) above named, in the presence of:-               ) Note: This kind of memorandum is a contract between the parties and will be required to be registered. Download Word Document In English. (Rs.20/-) Download PDF Document In Hindi. (Rs.20/-)

Deed of Pledge THIS DEED OF PLEDGE executed at __________ this ______ day of _______ 200__ between M/S. ABC LTD., a Company incorporated under the provisions of the Companies Act, 1956 having its registered office at _____________________________________________________, hereinafter referred to as “THE PLEDGOR” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include its successors) of the ONE PART; AND XYZ LTD., a Company incorporated under the provisions of the Companies Act, 1956 having its registered office at _______________________________ ____________________, hereinafter referred to as “THE PLEDGEE” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns) of the OTHER PART; WHEREAS: (a) By an Agreement of Loan dated ______ day of _________ 200___, the Pledge has agreed to lend and advance to the Pledge an amount not exceeding the sum of Rs. _________/- (Rupees _______________ only) on the terms and conditions stated therein. The aforesaid Agreement of Loan dated _______ day of ____ 200_____ is hereinafter referred to as “the said Agreement of Loan”. (b) The Pledge is the beneficial owner of fully paid-up equity shares of Rs. 100/- each of (_________________________________) and more particularly described in the Schedule hereunder written. (here in after referred to as “the said Shares”) and which said shares are listed on various Stock Exchanges. The said shares are dematerialized and are lying in Pledge’s Depository Account bearing No. ____________ with ___________________ as Depository Participant. (c) One of the conditions contained in the aforesaid Agreement of Loan is that the Pledge shall as security for due re-payment of the amounts repayable by the pledge under the said Agreement together with interest thereon, pledge the said shares in favour of the Pledge. (d) The parties hereto are desirous of recording the terms of the said pledge agreed between them. NOW THIS INDENTURE WITNESSETH and records as under:- 1. In pursuance of the said Agreement of Loan and in consideration of the Pledge having agreed to grant/granted to the Pledge the said loan on the terms and conditions provided in the said Agreement of Loan, as and by way of security for repayment of all amounts payable by the Pledge to the Pledge under the said Agreement of Loan and in the manner provided therein the Pledge hereby pledges the said shares described in the Schedule hereunder written. 2. It is hereby recorded and confirmed that with a view to giving effect to the said pledge, the Pledge has, on execution hereof, given instructions to It’s Depository participation to transfer the said shares to the Depository Account of the Pledge. Henceforth, the Pledge alone shall be entitled to the said shares as also to bonuses, rights, dividends etc. receivable on the said shares including to all the benefits directly and/or indirectly attached to the said shares in It’s own name subject to its rendering accounts thereof to the Pledge. 3. The provisions contained herein shall be read in conjunction with the provisions of the said Agreement of Loan as amended from time to time and it is agreed that to the extent of any inconsistency or repugnancy the provisions of the latter shall prevail to all intents and purposes. 4. The Pledge hereby appoints the Pledge as its attorney and authorizes the Pledge to act for and in the name of the Pledge to do, at the cost of the Pledge, all acts and things required to be done under these presents and generally to use the name of the Pledge in the exercise of all or any of the powers by these presents conferred on the Pledge and available in law to a Pledge. The above authorization in favour of the Pledge is irrevocable and unconditional. 5. In the event of any breach or default by the Pledge of the terms of the said Agreement of Loan or of the terms hereof or in the event of the security created in favour of the Pledge becoming enforceable for any reason whatsoever or the occurrence of any circumstance diminishing and/or endangering the security herein:- (a) The Pledge or its nominees shall, without any notice and without assigning any reason and at the risk and expense of the Pledge, and if necessary as Attorney for and in the name of the Pledge sell the said shares or any of them in the manner it thinks appropriate and apply the proceeds thereof firstly towards cost of the sale and balance towards discharge of Pledge’s liability under the said Agreement of Loan. (b) The Pledge shall accept the Pledge’s account of sale and realization as sufficient proof of amounts realized and relative expenses and pay on demand by the Pledge any shortfall or deficiency therein. Provided also that the Pledge shall not be in any way liable or responsible for any loss or depreciation in value of the said shares for any reason and that all such loss or depreciation in value howsoever caused shall be wholly to the account of the Pledge and debited accordingly. (c) If, after adjusting all the dues of the Pledge in terms hereof as also under the said Agreement of Loan, there is any surplus, the Pledge shall pay over the same to the Pledge. (d) In no case and circumstance, the Pledge shall be entitled to dispute the aforesaid acts, deeds and accounts of the Pledge and shall accept the same without questioning. 6. Subject to all the rights of the Pledge, the Pledge, in ordinary course of business, may from time to time, sell and repurchase the said shares or any of them dependant on the nature, trend and circumstances of the stock market and such decisions and acts of the Pledge shall remain binding on the Pledge. However, all advantages, if any, arising out of such dealings shall be for the benefit of the Pledge and added to the value of the security. 7. It is further agreed and recorded as under:— (a) Henceforth, the Pledge shall not create any kind of third party rights or encumbrances of whatsoever nature on the said shares whereby the Pledge’s security as recorded herein is in any manner affected. (b) The Pledge may at any time request the Pledge to sell the said shares and/or any part thereof and the pledge if it deems fit and proper may at its option do so and receive the consideration directly in its favour. 8. This security shall be a continuing security for repayment of the outstanding Loan together with the accrued and outstanding interest and all cost, charges and expenses incurred on account of the Pledge and for repayment of all other monies due to the Pledge under the said Agreement of Loan and under these presents and the liability of the Pledge shall not be affected or impaired or discharged by reason of the winding up (voluntary or otherwise) or merger, amalgamation, reconstruction, nationalizations or to takeover of management of the Pledge with any other company. THE SCHEDULE ABOVE REFERRED TO: (Description of the said shares) _________ Number of shares of one __________________________ together with its bonuses, rights, dividends etc. as also all other rights and benefits directly and/or indirectly attached to the said shares. IN WITNESS WHEREOF the parties hereto have executed these presents the day and year first hereinabove written. THE COMMON SEAL OF ) ABC LTD., the PLEDGOR ) Above named is hereunto affixed ) Pursuant to the Resolution of its ) Board of Directors passed in ) That behalf, on the ______ day of ) ___________ 200__ in the presence of ) (1) _______________, Managing ) Director and (2) ______________, ) Director and in the presence of …. ) THE COMMON SEAL OF ) XYZ LTD., the PLEDGEE ) Above named is hereunto affixed ) Pursuant to the Resolution of its ) Board of Directors passed in ) That behalf, on the ____ day of ) ___________ 200__ in the presence of ) (1) _______________, Managing ) Director and (2) ______________, ) Director and in the presence of ….) Download Word Document In English. (Rs.15/-) Download PDF Document In Hindi. (Rs.15/-)

DEED OF TRANSFER OF MORTGAGE This Transfer of Mortgage is made at……………..this……………..day of……………..20… between X, son of……………..resident of....................hereinafter referred to as "the  Transferor" (which expression shall unless excluded by or repugnant to the context, be deemed to include his heirs, executors, administrators, successors and assigns) of the ONE PART and Y, son of……………..resident of..................... hereinafter referred to as "the Transferee" (which expression shall, unless excluded by or repugnant to the context be deemed to include his heirs, executors, administrators, successors and assigns) of the OTHER PART. WHEREAS (1) Shri Z……………..S/o……………..resident of…………….. hereinafter referred to as "the Debtor" (which expression shall unless excluded by or repugnant to the context be deemed to include his heirs, executors, administrators, successors and assigns) has taken a loan of a sum of Rs ……………..(Rupees……………..) (hereinafter referred to as "the mortgage money") from the Transferor. (2) The Debtor had executed in favour of the Transferor a registered mortgage deed of the house mentioned in the Schedule hereunder written in the form of an English mortgage and registered on..………….....as document No ……………..as and by way of security for the repayment of the said mortgage money and interest @……………..%p.a., payable in respect of the said mortgage. (3) The Debtor had agreed to repay the said mortgage money and the interest accrued thereon in instalments in accordance with the terms and conditions set out in the said mortgage deed, dated ............. (4) The Debtor had to repay on the amounts of Rs ……………..and Rs . …………….. being respectively the outstanding amounts of mortgage money and the interest accrued. (5) The Transferor made an offer to the transferee to transfer the said mortgage in his favour, which he has agreed and in pursuance of the said agreement the Transferee has discharged the mortgage debt due and payable by the Debtor to the Transferor and the amount of Rs. ..................... being the aggregate of outstanding amounts of the mortgage money and the interest due and payable in respect of the said mortgage has been paid by the Transferee to the Transferor on ....................subject to the condition that the mortgage deed executed by the Debtor in favour of the Transferor shall be assigned absolutely in favour of the transferee. THIS DEED OF TRANSFER OF MORTGAGE WITNESSES AS UNDER: (1) In consideration of the sum of Rs . ……………..and Rs …………paid by the Transferee to the Transferor being respectively the outstanding amounts of the mortgage money and interest due and payable in respect of the said mortgage and the transferor having discharged the obligations of the Debtor to the Transferor, the Transferor hereby conveys, and transfers to the Transferee all the debt of Rs ……………..with rights, interest, claims, benefits and  advantages of the mortgaged property and of the security absolutely to the transferee. (2) The Transferor further declared that the amount of Rs ……………..being aggregate of the outstanding amounts of mortgage money and the interest due and payable in respect of the said mortgage were due and owing to the Transferor from the Debtor and that the Transferor shall have no other right, claim, lien or interest in respect of the mortgage hereby transferred. The Schedule above referred to IN WITNESS WHEREOF the transferor has put his hands on the day and year hereinabove written. WITNESSES 1 Signed and delivered by within named X 2 Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)

FACILITY LETTER To M/s. …………….. ………………….. ..................……… Dear Sir, Grant of working capital facilities We……………..Bank, are pleased to offer you the working capital facilities upto a maximum of Rs . ……………..for meeting a part of your working capital needs on the terms and conditions set out herein: 1. You shall open cash credit account at our……………..Branch for operating the said  facilities. The said facilities shall be drawn in phases as may be agreed upon between us. 2. Interest shall be charged on the cleared daily balance upto actual payment at the rate of ……………..% p.a. The rate of interest is liable to be increased or decreased in terms of Reserve Bank of India directives on such loan. Where interest is charged by us at a concessionary rate because of the said facilities being granted under the Interest Subsidy Scheme or any other scheme formulated by the government and/or Reserve Bank of India, the concessionary rate or rates of interest shall stand withdrawn and tile usual normal rate or rates of interest as mentioned earlier shall become effective and we will be entitled to charge such rate or rates of interest and you shall pay to us the difference between such concessionary rate or rates and the usual normal rate or rates of the interest as mentioned above applicable at the maternal time to the said facilities and such difference shall become due and payable by you from the date of withdrawal, modification and/or variation or any such scheme(s) becomes effective. 3.You shall repay the loan under the said facilities forthwith on demand of all such amounts as may be standing to the debit of your account, together with interest, costs, charges, expenses and other moneys thereon at the rate or rates as may be applicable thereto as set out in the Schedule I hereunder written. If you fail to repay the said amount on the due dates, you may be treated as defaultor and we will be entitled to invoke the provisions as to defaults as hereinafter stated. 4.The said facilities together with interest, costs, charges, expenses and other moneys payable in respect thereof will be secured in our favour by a first charge by way of hypothecation and/or pledge of your current assets, namely stocks of raw materials, semi finished and finished goods, stores and spares, bills receivable and book debts and all other movable properties, both present and future. You will place the assets and such goods, movables pledged to us in our possession and control and in such manner that such possession and control may be apparent and indisputable. You shall put the boards in the godown, factories and other places where the pledged movable and other assets are stored or kept, stating that the said goods and assets are pledged to the .................. Bank, we may release the said goods and assets for carrying on the manufacturing or other activity and you will keep such released goods, assets and sale proceeds in trust for us. 5. You will also procure irrevocable and unconditional guarantees in the form prescribed by us, from your directors and/or others for the payment and discharge by you to us of the sum of Rs ……………..and interest, costs, charges, expenses and other moneys due and payable by you to us under or in respect of the said facilities. 6.Our officers, employees, agents or nominees will be entitled to access to the godowns at all times, where the goods or assets pledged are stored or kept and they shall have the right to remove the goods and assets so stored and held in the godown whenever desired by us. 7.You will make out a good and marketable title to your properties to the satisfaction of our solicitors and you will comply with all such formalities as may be necessary or required for the said purpose. 8. You will maintain such security margins as may be stipulated by us. The Current Asset cover shall not be less than 1.33 at any point of time and you will at all times maintain a sufficient quantity of the securities to provide the Asset cover as may be required by us at our discretion and in the event of any deficiency in such Asset cover, you shall forthwith provide additional securities to restore such asset cover to the original level or pay the equivalent in cash in the event of additional securities not being available. 9. You will utilise the facilities for meeting a part of your working capital requirements and for no other purpose. You will submit statements under the Quarterly Information System (QIS) in the form prescribed by us from time to time each quarter, regularly to us and furnish to us full particulars of cash credit account or other account and the drawings in the said cash credit account or other account shall be regulated on the basis of such statements. Such statements shall be submitted within ten days after the expiry of each quarter. 10. You will pay or cause to be paid all rents, rates, taxes, payments and outgoings that are payable in respect of your immovable properties. 11. In case of your failure to repay the said facilities or pay interest or any portion thereof or you commit breach of any covenant to be observed or performed on your part herein contained, or if the security created in our favour becomes unenforceable or if any distress or execution is levied or enforced against your property or any part thereof or any person, firm or company takes any steps for or obtains an order for the appointment of a Receiver or if you make compromises with your creditors or you shall suspend or cease to carry on business or fail to conduct your business to our satisfaction, then the entire amount standing to the cash credit account or other account together with interest, costs, charges, expenses and other moneys payable in respect thereof shall forthwith become payable at once at our option. 12. You will keep all goods, assets, book debts, immovable or movable properties hypothecated, pledged or otherwise charged to us as security for any of the said facilities in good condition and insure the said goods and assets, etc. against loss or damage in our and your joint names with an insurance company approved by us and for an amount as we may consider necessary and you will deliver the insurance policies to us when required by us to do so. If you fail to effect such insurance, we may insure the said goods, movable and other assets and immovable properties against fire and/or such risk in such joint names and debit the premium and other charges to your account. 13. Notwithstanding anything contained in the Indian Contract Act or any other law for the time being in force or in this letter, the payment made by you will be appropriated in the following manner (a)                First towards costs, charges, expenses or/and other moneys due and payable or becoming due and payable to us (b) Secondly towards interest due and payable and/or accruing due and payable to us. (c) Lastly towards repayment of the amount of any instalment(s) of the principal sum due and payable and becoming due or payable to us. 14. During the term of the said facilities and until repayment of the loan and other moneys, obligations and liabilities you shall not without our prior written consent, create or permit to subsist or extend any mortgage, charge, pledge, lien or any other encumbrance or security whatsoever over any part of your or its present or future undertaking, property, assets, goods or factor, sell, assign, discount or otherwise dispose off any book debts, claims or securities or make any change in the nature of your business or sell or dispose off or deal with the whole or any substantial part of your undertaking, property, assets, except for stock sold or disposed off in the ordinary course of business or give any guarantee or indemnities in respect of any of the obligations. 15. You have to irrevocably constitute and appoint us to be your true and lawful attorney to do and execute for and in your name and on your behalf to take over, carry on the business and complete engagements and contracts, to demand and receive all debts, sums of money, dividends, interest and dues of whatever nature, to realise all the assets whether movable or immovable and to do all other acts which we will consider necessary for the purpose of granting, realisation and receipt of the money or moneys under these facilities. 16. We shall not be liable for any failure to perform our obligations and duties hereunder or for any action of the Government, local or statutory authority or any strike, riot, civil disturbance or Act of God. 17. Any forbearance in enforcing payment or giving time or otherwise showing indulgence for making payment or otherwise shall not preclude us from exercising any right or remedy against you. 18. The said facilities are being granted to you and you will not be entitled to assign your rights hereunder. Please return the duplicate of this letter duly accepted by your duly authorised officials within ……………..days of the issue of this letter, failing which it will be considered that you are not interested in availing of the said facilities and this offer will lapse. Please enclose the certified copy of the resolution passed by the Board of Directors of your company accepting these facilities and for creating security in our favour. Thereafter you may execute security deed and create hypothecation/p ledge of your assets and properties in terms of this letter. Schedule I Above referred to Yours faithfully, For and on behalf of Bank ……………..                Regional Manager Accepted and Agreed ... For and on behalf of……………..Co. Ltd. Managing Director …………….. Director. Download Word Document In English. (Rs.20/-) Download PDF Document In Hindi. (Rs.20/-)