FILE 7-Annexure 16, 18, 19 and 21

ANNEXURE-16
AGREEM ENT OF HYPOTHECATION (GOODS, BOOK DEBTS AND OTHER M OVABLE ASSETS TO SECURE MULTIPLE FACILITIES )
THIS AGREEMENT made at___________________this the_____________day of________________in the Christian Year Two Thousand_________________BETWEEN___________________________ _______________________________________________________________________________
_________________________________________________________________________hereinafter called "the
Borrower/s "of the One Part AND DENA BANK, a body corporate, constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, and having its Head Office at Dena Corporate Centre, C-10, `G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 and Branch Office amongst other places at __________________________________ _______________________________________________hereinafter called "the Bank" (which expression shall unless it be repugnant to the subject or context thereof include its successors and assigns) of the Other Part: The expression "the Borrower" shall, when the Borrower:
a)
If a company, shall unless it be repugnant to the subject or context thereof, be deemed to include its successors and assigns.
b)
If a Partnership firm, shall include, wherever the context permits or so admits, the survivor or survivors of partners of the said firm, their respective heirs, executors, administrators and assigns and the partners for the time being constituting the said firm.
c)
If a Proprietary firm, shall include, wherever the context permits or so admits, the heirs, executors, administrators and assigns.
d) e)
If an individual, shall include his or her heirs, executors, administrators and assigns. If a Joint and Undivided Hindu Family or a Joint Family Firm, shall include its coparceners and all members and their respective heirs, executors, administrators and assigns and
f)
If an Association, Corporate or Unincorporated, shall include its successors and assigns and all
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ANNEXURE- 16 (CONTD.)
m e m b e r s a n d th e ir re s p e c tiv e h e irs , e x e c u to rs , a d m in is tr a to r s a n d a s s ig n s . W H E R E A S t h e B a n k h a s a g r e e d t o g r a n t v a r io u s c r e d it fa c ilitie s to th e B o r r o w e r / s t o m e e t f i n a n c i a l r e q u i r e m e n t o f t h e B o r r o w e r / s u n i t s__________________________in itu a te d a t t h e s t a t e ____________b y w a y o f o v e r d r a f t s , c a s h c r e d it s , t e r m lo a n s , p r e - s h ip m e n t a n d of
p o s t - s h ip m e n t c r e d it s , o p e n in g o f le t te r s o f c r e d it , is s u in g o f g u a r a n t e e s in c lu d in g d e fe
p a y m e n t g u a r a n te e s a n d in d e m n itie s , n e g o tia tio n a n d d is c o u n tin g o f b ills a n d c h e q u e s , in th e B a n k a n d th e B o rr o w e r /s fo r s u m s u p to th e lim its o r s u b - lim its a s fix e d b y th e B a n k fr o m to tim e in re s p e c t o f th e a fo r e s a id c r e d it fa c ilitie s a n d in n o c ir c u m s ta n c e s a n a m o u n Rs____________________(R u p e e___________________________________o n l y ) a s s m e n t i o n e d i n t h e S c h e " A "l e e r e u n d e r w r i t t e n ( h e r e i n a f t e r c a l l e d t h e " c r e d i t f a c i l i t i e s " ) . du h
a s w e ll a s fo r e ig n , a n d s u c h o th e r fa c ilitie s a s m a y b e a g r e e d u p o n fro m tim e to tim e b e tw
e x c e e d in g a t a n y o n e tim e in th e a g g re g a te w ith in te re s t th e re o n a n d c o s ts th e s u m
A N D W H E R E A S o n e o f th e c o n d itio n s s tip u la te d b y th e B a n k is th a t th e B o r r o w e r /s s in te a lia a s s e c u rity fo r d u e p a y m e n t o f th e s a id c r e d it fa c ilitie s a n d in te re s t, d is c o r a ) h y p o th e c a b y w a y o f fir s t c h a r g e a ll th e B o r r o w e r /s g o o d s in c lu d in g P a te n t /T r a d e M a r te G o o d w ill/B r a n d o r a n y o th e r In te lle c tu a l P r o p e r ty r ig h t a n d /o r b o o k - d e b t s a n d / o r m o v a b le s c) Equitable M ortgage by deposit of original title deeds in respect of im m ovable
c o m m is s io n ,h a rg e s a n d c o s ts a n d e x p e n s e s p a ya b le to o r in c u rre d b y th e B a n k in re la tio n th e re t c
o t h e r assets. B) Personal G uarantee of --------------------------------------------------------------------------------------------
pro
being-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
A N D W H E R E A S th e B a n k h a s r e q u e s te d th e B o r r o w e r/s to e x e c u te th e s e p re s e n ts w h ic h B o r ro w e r / s h a s a g r e e d t o d o in th e m a n n e r h e r e in a f t e r e x p r e s s e d .
N O W T H E R E FO R E T H E SE PR ESE N TS W IT N E SSE T H T H A T :
1. In consideration of the Bank having granted and/or agreed to grant to the Borrower/s all or some or any of the aforesaid credit facilities for the purposes and subject to the terms and conditions specified and contained in the sanctioned letter(s), various deeds, documents, writings and modifications made from time to time and in consideration of the premises as aforesaid the Borrower/s hereby hypothecates and charges to the Bank by way of first charge, all the Borrower/s's goods and/or book-debts and/or movables and other assets as detailed hereinafter. GOODS: All stocks of raw materials Goods in Process and finished goods such as____________________ _______________________etc., consumable stores and spares, packing materials etc., both present and future, now being or hereafter during the continuance of this Agreement brought into or upon or now or hereafter in course of transit to any godowns, jathas or place whatsoever and wheresoever in
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the possession or occupation of the Borrower/s, (hereinafter referred to as the "said goods").
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ANNEXURE - 16 (CONTD.)
MOVABLES AND OTHER ASSETS : All the tangible/intangible (in c lu d in g P a t e n t/ T r a d e M a r k /
G o o d w ill/B ra n d o r a n y o t h e r In te lle c tu a l P r o p emovableh properties and assets of the r t y r ig t )

Borrower/s of whatsoever nature including plant, machinery, tools and accessories, stores, spares, relating to the plant sc machinery, furniture, articles, office equipments, computers, and things belonging to the Borrower/s and lying and being at their premises/ factories at _________________ being movable properties and capable of passing by delivery, both present and future, whether installed or not and whether now lying loose or in cases and now being or at any time hereinafter during the continuance of this Agreement brought into or upon or at any time in course of transit to the premises/factories of the Borrower/s at _____________either by way of substitution or in addition or other place whatsoever and wheresoever in the possession or occupation of the Borrower/s (hereinafter referred to as the "said assets"). BOOK-DEBTS : All the present and future book-debts, outstandings, moneys, receivables, claims, bills, rights, to or in movable properties and movable assets and which are now due, owing or payable or belonging to the Borrower/s or which may at any time hereafter during the continuance of this security become due, owing, payable or belonging to the Borrower/s in the course of its business by any person, firm, company or body corporate or by the Government Central or State or Indian Railways, any Government Department or office or any Municipal or local or public or Semi Government body or authority or any body corporate or undertaking or project whatever in the public sector (hereinafter referred to as the "said debts") (hereinafter the said goods, the said debts and the said assets are collectively referred to as the "Hypothecated Premises") for payment and discharge by the Borrower/s to the Bank on demand the said credit facilities and all other moneys at any time payable by the Borrower/s to the Bank under or in respect of all or some or any of the aforesaid facilities granted or to be granted to the Borrower/s.
2.
THAT the Borrower/s will at all times maintain a sufficient quantity and market value of the said hypothecated premises, to provide the margins of security required by the Bank from time to time and will forthwith whenever necessary provide further hypothecated premises (approved by the Bank) to restore such margins or pay the Bank the equivalent in cash. In respect of letters of credit opened or guarantee or indemnities issued by the Bank on behalf of the Borrower/s, the Borrower/s will deposit sufficient cash or other security as may be acceptable to the Bank as margin money as stipulated by the Bank. The Bank shall be entitled to and shall at its sole and absolute discretion change the margins and the Borrower/s shall be bound by it notwithstanding any margins earlier agreed by the Bank.
3.
The Borrower/s expressly agrees and undertakes that all the aforesaid credit facilities or any of them shall be utilized exclusively for the purposes set forth in the Borrower's proposals to
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ANNEXURE -16 (CONTD.)
the Bank and for no other purpose and no change shall be made therein without the written sanction of the Bank. The Borrower/s further agrees not to open any advances or deposit account with any other Bank/Banks without the prior consent in writing of Dena Bank during the continuance of the advance.
4.
THAT in respect of cash credit hypothecation, the Borrower/s shall from time to time on demand by the Bank furnish to the Bank a full and correct written statement with such particulars as the Bank may require of the hypothecated goods together with market value, or (where the market value exceeds normal value) the normal value thereof and produce such evidence in support thereof as the Bank may from time to time require to enable the Bank to ascertain the drawing power. THAT in respect of the book-debts the Borrower/s shall from time to time furnish to the Bank a list of all the book-debts with the particulars of the debts and debtors and produce to the Bank its account books and other documents to enable the Bank to ascertain the book-debts for arriving at drawing power from time to time. THAT in respect of the credit facility/ies by way of term loan/s granted by the Bank to the Borrower/s, the Borrower/s shall repay the amount of the principal as detailed in Schedule "B" given herein under together with interest and interest-tax thereon, as applicable, costs, charges, expenses and other moneys due to the Bank on such dates until the entire amount/s due under the term loan/s facility/ies have been repaid. If there is any default in payment of any one of such instalments on due date the agreement to receive payment by instalments shall stand determined at the option of the Bank and the Bank shall be at liberty to demand payment of and the Borrower/s shall be bound and liable to pay forthwith on such demand the balance amount due to the Bank. Failure of the Borrower/s to repay shall entail in the Borrower/s being treated as a defaulter and the amount due as in default is recoverable by invoking the provisions as to defaults as hereinafter contained. THAT in respect of any liability undertaken by the Bank under any letter(s) of credit opened or guarantee, deferred payment guarantee or indemnity issued by the Bank for the Borrower/s or otherwise in respect of account at any office of the Bank (whether accrued, accruing or contingent and whether solely or jointly with others) and any bills of exchange, promissory notes or instruments at any time drawn, made, accepted or endorsed by the Borrower/s solely or jointly with others which the Bank may discount or become interested in together with all interest, discount, commission, charges, costs (between Advocate and Client) and expenses payable to or incurred by the Bank in relation
5.
6.
7.
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thereto shall be paid on demand; 8. THAT in respect of the credit facilities by way of Pre-shipment/Packing credit and Post-shipment credits granted by the Bank to the Borrower/s, the Borrower/s agrees to liquidate the advance under the respective accounts by negotiation of export documents and/or documents drawn under Letters of Credit and/or firm contracts and the duration of each such Advance shall not exceed 180 days or such further period as may be prescribed by the Bank and/or the Reserve Bank of India. The Borrower/s hereby agrees to lodge letters of credit and/or firm contracts with the Bank and also to furnish to the Bank from time to time such particulars of goods meant for export and are hypothecated hereunder and such other records maintained in respect thereof by the Borrower/s.
9.
a) THAT interest shall be charged on the outstanding in the account(s) opened in respect of the various facilities at such rate/s above Dena Bank Base Rate (DBBR) as would be fixed ( as per terms of sanction) by the Bank from time to time. The present rate of interest for each such facility is as per details given in the Schedule "A" hereto and interest tax thereon as applicable. 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/quarter/half year depending upon the nature of Advance and as the Bank may decide. The Bank shall also be entitled to charge additional interest at the rate of 2 percent per annum on the account(s) either on the entire outstandings or on a part thereof as it may decide for any irregularity including noncompliance of the terms and conditions of these presents or the terms of sanction of the credit facilities and for such period as their irregularity continues or for such time as the Bank deems it necessary regard being had to the nature of the irregularity and the charging of such additional rate of interest shall be without prejudice to the Bank's other rights and remedies including the right to stop operation of the account.
b) The Borrower is aware and confirms that the Bank shall at any time and from time to time be entitled to review/change the rate of interest of its own or as may be mandated by RBI or the Government and such revised rate of interest shall always be construed as agreed to be paid by the Borrower(s) and hereby secured. Borrowers shall be deemed to have notice of change in rate of interest whenever the change in the interest rate are displayed/notified at /by the Branch as per the Policy of the Bank/RBI. c) Interest tax and other taxes/levies as may be applicable from time to time on the loan/credit facilities shall be born solely by the Borrower.
10.
THAT the Bank shall not be required to grant or continue all or some or any of the aforesaid facilities otherwise than at the Bank's discretion and in no circumstances for sums exceeding at any one time in the aggregate the sum of Rs_____________________(Rupees________________ ___________________________________________only) or a sum equal to a stated percentage
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of the value of the hypothecated premises which the Bank may specify from time to time, whichever sum may be less, valuation being done in the manner and at the rates approved by the Bank.
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ANNEXURE-16(CONTD.)
11. The Borrower/s agrees with the Bank that unless otherwise agreed to by the Bank, the Borrower/shall repay the aforesaid credit facilities to the Bank forthwith on demand of all such amounts as may be standing at the foot of the account(s) together with interest and interest-tax thereon, as applicable, and commission as may be applicable thereto as set out in the Schedule "A" hereto along with compound interest, additional interest, damages, costs, charges, expenses and other moneys payable thereon.
12.
THAT the Bank shall be at liberty to have any of the hypothecated premises valued by an appraiser approved by the Bank and the Borrower/s shall render/give all assistance/ co-operation to such appraiser and the charges, fees and expenses of such appraisement shall be debited to the said accounts opened by the Bank and shall be a charge on the security created hereunder.
13.
THAT all the hypothecated premises, the subject of this Agreement, shall be insured to the full extent of the value thereof against all possible risks by the Borrower/s in the joint names of the Borrower/s and the Bank, with an Insurance Company, approved by the Bank to the extent of the total value of "the hypothecated premises" and that the Insurance Policies shall be delivered to the Bank. If the Borrower/s fails to effect such insurance, the Bank may, without being bound to do so, insure the said hypothecated premises against all risks in such joint names and debit the premium and other charges to the said accounts opened by the Bank as the case may be. The Borrower/s expressly agrees that the Bank shall be entitled to adjust, settle, compromise or refer to arbitration any dispute between the Borrower/s and the insurer arising under or in connection with such policy or policies and such adjustment, settlement, compromise and any award made on such arbitration shall be valid and binding on the Borrower/s and also to receive all moneys payable under any such policy or under any claim made thereunder and to give a valid receipt therefore and that the amount so received shall be credited in the account having reference to the said hypothecated premises in respect of which such amount is received and that the Borrower/s will not raise any question that a larger sum might or ought to have been received or be entitled to dispute its liabilities for the balance remaining due on such account after such credit.
14. THAT the Bank, its Agents and Nominees shall be entitled, at all times without notice to the Borrower/s but at the Borrower's risk and expenses and if so required as attorney for and in the name of the Borrower/s, to enter any place where the said hypothecated premises may be and inspect, value, insure, superintend, dispose of and/or take particulars of all or any part of the said hypothecated premises and check any statements, accounts, reports and information and for the purpose of such entry to do all acts, deeds, and things deemed necessary by the Bank including breaking open any place where the hypothecated premises and the books of account
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or other documents relating to the said hypothecated premises may be lying or stored or kept and also on any default of the Borrower/s in payment of any money hereby secured or the performance or any obligation of the Borrower/s to the Bank or breach of any terms, in respect of the credit facilities of the occurrence of any circumstance in the opinion of the Bank endangering the security, to take charge of, seize, recover, receive, take possession of, inter alia, by putting its locks on the godowns and other places where the hypothecated premises or account books and other documents relating to the said debts are lying or kept and to appoint receiver or remove all or any part of the hypothecated premises and also all the books of accounts, papers, documents and vouchers and other records relating thereof, and also to give notices and demands to debtors and third parties liable therefore, sue for recovery, receive and give receipts for the same and / or sell, realize, dispose of, assign and deal with in 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 hypothecated premises and to enforce, realize, 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 carrying on the business of the Borrower/s through Agents, Managers or otherwise without being bound to exercise any of these powers or being liable for any loss in exercise thereof and without prejudice to the Bank's rights and remedies of suit or otherwise and notwithstanding there may be any pending suit or other proceedings, the Borrower/s undertaking to give immediate possession to the Bank on demand of the said hypothecated premises and to give notices to debtors as and when required by the Bank, to transfer and deliver to the Bank all relative bills, contracts, securities, papers and documents and agreeing to accept the Bank's accounts of sales, receipts and realizations as sufficient proof of amounts realized and relative expenses and to pay any shortfall or deficiency thereby appearing, provided that the Bank shall be entitled at all times to apply any other money or moneys in its hands standing to the credit of or belonging to the Borrower/s in or towards payment of any amount for the time being payable to the Bank in respect of all the time being payable to the Bank in respect of all or some or any of the aforesaid facilities granted and/or agreed to be granted by the Bank or otherwise as aforesaid and to recover at any time from the Borrower/s by suit or otherwise the balance remaining payable to the Bank in respect of the aforesaid facilities or otherwise notwithstanding that all or any of the securities may not have been realized. 15. THAT the Borrower/s will submit to the Bank, monthly or often as may be required, statements of the said hypothecated premises, in the form prescribed by the Bank from time to time, with the list of current insurance policies and value of hypothecated premises duly verified by certificates of the Borrower/s, that the quantities and amounts stated are correct and
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ANNEXURE-16 (CONTD.)
that all the hypothecated premises are fully covered by insurance and will also furnish and verify all statements, reports, returns, certificates and information and will also execute all documents and do all acts and things which the Bank may require to give effect hereto and the Borrower/s authorizes the Bank and each of its Agents and Nominees as Attorney for and in the name of the Borrower/s to do whatever the Borrower/s may be required to do hereunder.
16.
THAT this Agreement shall operate as a continuing security for all moneys, indebtedness and liabilities aforesaid notwithstanding the existence of a credit balance in the account or accounts at any time or any partial payments or fluctuations of accounts.
17.
THAT nothing herein shall prejudice any rights or remedies of the Bank in respect of any present or future security, guarantee, obligation or decree for any indebtedness or liability of the Borrower/s to the Bank.
18.
THAT the Borrower/s declares that all the said hypothecated premises are at present in existence and all the said hypothecated premises over which security may be created hereafter for all or some or any of the aforesaid facilities are in existence at the time of such creation of security and shall be the absolute property of the Borrower/s at its sole disposal and free from any prior charge, lien or encumbrance as have been notified to the Bank and accepted by it as having priority over its charge and that all the future hypothecated premises to be given as security to the Bank shall be likewise unencumbered, absolute and disposable property of the Borrower/s and the Borrower/s shall not without the Bank's prior permission create any mortgage, charge, lien or encumbrances of any kind upon or over the same or on the undertaking of the Borrower/s (whether movable or immovable) and assets (including uncalled share capital or any part thereof) nor suffer any such mortgage, charge, lien or encumbrance to effect the same or any part thereof nor do or allow anything that may prejudice the security while the Borrower/s remains indebted or liable to the Bank in any manner, without Bank's written consent. The Borrower/s shall also not resort to outside borrowings without the Bank's prior written consent.
19. THAT subject always to the Bank's rights, powers and privileges under this Agreement or
otherwise, the Borrower/s may with the approval of the Bank and in due course of business sell from time to time the said goods which have been hypothecated to the Bank provided the margin(s) of security required by the Bank are always fully maintained and on the terms of payment and delivery to the Bank of the proceeds thereof the documents relating thereto immediately on receipt thereof and on the express understanding that the security created hereunder and all realizations, recoveries and insurance proceeds thereof and all rights and interest in respect thereof and all documents thereof shall always be kept distinguishable and
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held as the Bank's exclusive property specifically appropriated to the security created hereunder to be dealt with only under the directions of the Bank. 20. THAT the Bank shall not be under any liability whatsoever towards the Borrower/s or any other person for any loss or damage, to the said hypothecated premises, the subject of this Agreement, in whatever cause or manner arising whether such hypothecated premises 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/s shall at all times indemnify and keep indemnified the Bank and against all suits, proceedings, costs, charges, claims and demands whatsoever that may at any time arise or brought or made by any person against the Bank in respect of any acts, matters and things lawfully done or caused to be done by the Bank in connection with the said hypothecated premises or in pursuance of the rights and powers of the Bank under this Agreement. 21 THAT the Borrower/s shall display the Bank's name on the godown, factory and other places approved by the Bank where such goods and assets as are hypothecated to the Bank and against which limits for purposes of drawings have been fixed under all or some or any of the aforesaid facilities have been stored indicating that such goods and assets are hypothecated to the Bank. 22. The Borrower/s understands that as a precondition, relating to grant of the loans/advances, the Bank requires Borrowers consent for the disclosure by the Bank of, information and data relating to Borrower/s, of the credit facilities availed of/to be availed, by the Borrower/s, obligations assumed / to be assumed, by Borrower/s in relation thereto and default if any, committed by Borrower/s in discharging thereof:
i) The Borrower/s hereby agrees and gives consent for the disclosure by Bank of all or any such (a) information and data relating to the Borrower/s (b) the information or data relating to any loan facilities availed of/to be availed by the Borrower/s and (c) default, if any, committed by Borrower/s in discharge of Borrower/s such obligation, as Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. and any other agency authorised in this behalf by RBI. ii) The Borrower/s further declares that the information and data furnish to Bank are true and correct; and iii) The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. and any other agency so authorised my use, process the said information and data disclosed by the Bank in the manner as deemed fit by them and (b) the Credit Information Bureau (India) Ltd. and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them, to Banks/financial institutions and other credit grantors or registered users, as may be specified by the Reserve Bank in this behalf. 23. ASSIGNMENT AND TRANSFER That the Bank shall have right to sell or transfer (by way of assignment, securitisation or otherwise the whole or part of the credit facilities and outstanding amount under the same or any other rights under this agreement or any other documents to any other person in a manner or under such terms and conditions as the Bank may decide under sole discretion.
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ANNEXURE -16 (CONTD.) That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaid to accept such person to whom the credit facility is sold or transferred as his lender and make the repayment of the same to such person as may be directed by the Bank. The BORROWER/S shall not transfer or assign his rights under the agreement. 24. That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all the securities belonging to him/them (which may now be in Banks possession or which may at any time hereafter come into Banks possession) and the proceeds thereof respectively not only for the specific credit limits made thereon but also as collateral security or for any other moneys now due or which may at any time be due from him/them to the Bank whether singly or jointly with another or others. Further in addition to any general lien or similar right to which the Bank as Bankers may be entitled by law, the Bank may at any time and without notice to him/them combine or consolidate all or any of his/their accounts with and liabilities to the Bank and set-off or transfer any sum or sums standing to the credit of any one or more of such accounts in or towards satisfaction of any of his/their liabilities to the Bank on any other account or in any other respect, whether such liabilities be actual or contingent, primary or collateral and several or joint. It is hereby agreed that stamp duty, registration charges, chargeable or which may be held to be chargeable at any time shall be borne by the Borrower/s. 25. *The BORROWER/S further agree, declare, undertake, assure and confirm that the following is the exhaustive list of his /their legal heirs with full address/es, and the said list is furnished to enable the Bank to take steps for recovery of the dues under various credit facilities from any one/some/all of them in the event of his/their demise, or of any one or some or all of us during the currency/ pendency of credit facilities extended by the bank to him/them. Name /Age of Borrower/s/s Name/s , age/s of legal heir/s Relation with the Borrower/s Address Occupation/ Vocation of legal heirs
* Applicable for Individual Borrowers only.
26.
The BORROWER/S further agree, undertake and assure that he/they shall promptly inform the Bank in writing of any change in the above particulars of his/their legal heirs that may be occasioned by birth, death, marriage etc. And/or that may be caused by any amendment/change in his/their personal Law/s and/or account of any amendment/change in the general statutes/laws of the country.
The BORROWER/S also give hereunder particulars of immovable properties belonging to him/them, which have not been charged to the Bank are also not charged to any Bank/ Financial Institutions / Creditor as security for financial assistance granted to him/them. ANNEXURE -16 (CONTD.) Item Particulars of In whose Present
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27.
Whether
Present
No.
immovable properties with full address (where situated etc.)
names the property stands
encumbrances
leasehold or ownership
Market value (Rs. In Lacs)
28.
The Borrower/s further declare that,

o o o
where the borrower is an individual, that he/she is not a director or specified near relation of directors of a banking company. where the borrower is a partnership firm, that none of the partners is a director or specified near relation of a director of a banking company and where the borrower is a joint stock company, that none of its directors is a director or specified near relation of a director of a banking company.
29.
The Borrower/s further declares that there is no court case pending, of any Banks / Financial Institutions / against me / us / any Partner / Director / Firms / Company. OR Details of court cases pending against me / us / any Partner/ Director / Firms/ Company are as under:Suit Date Amount Particular of the case Remark / Present Status No. (in lacs)
30.
THAT the Borrower/s hereby agree as pre-condition of the loan/advances (fund based and non-fund based) availed by them from the Bank that in case of default by them in the repayment of the loan/advance or in the repayment of interest thereon or any of the agreed instalment of the loan on due date/s, the Bank and/or the Reserve Bank of India will have an unqualified right to disclose or publish his/their name/s or the name/s of their company/ firm/ unit and its directors/ partners/ proprietors as defaulter in such manner and though such medium as the Bank or the Reserve Bank of India in their absolute discretion may think fit.
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SC H E D U L E " R E FE R R E D H E R E IN A B O V E "A
SR .N O N A TU R E O F C R ED IT FA C ILIT IES SA N C TIO N E D L IM ITS M A R G IN IN T ER E ST R A TE C O M M ISSIO N
SCHEDULE B R EPA Y M EN T O F TER M LO A N

1. 3. 5. 7. 9. 11. Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ 2. 4. 6. 8. 10. 12. Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________ Rs. __________________ on ___________
*IN WITNESS WHEREOF the Borrower/s has executed these presents under their hands and seal/ affixed their Common Seal the day month and year first hereinabove written.
**THE COMMON SEAL OF M/s.______________________________)

Limited was pursuant to ) the Resolution of its Board ) of Directors passed on the ) _________day of _____________20___ ) hereto affixed in the presence ) of Shri _________________________ ) and Shri _________________________ ) Directors of the Company who ) has/have signed these presents ) OR *IN WITNESS WHEREOF the Borrower/s has/have hereunto set and subscribed his/their hand/s on the day and the year first hereinabove written.
F O R ...................... ( .)
* Retain whichever is applicable
* * Seal be affixed as provided in the Articles
Proprietor/Partners/Director
of Association of the Company.

135
LD-16
ANNEXURE-18
LOAN AGREEM ENT FOR LAND AM D BUILDING/INDUSTRIAL G ALA
T H IS A G RE E M E N T m ade at _______________________th is the __________________day _

of__________________________in the Christian Year_____________________________________
_____________________BETW EEN _____________________________________________________________

hereinafter called "the Borrower/s" of the One Part AND DENA BANK, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at Dena Corporate Centre, C-10, `G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 and a Branch Office amongst o t h e r p l a c e s a t _ _ _ _ _ _ _ _ _ _
__________________________________________________hereinafter called "the Bank" (which expression
shall unless it be repugnant to the subject or context thereof include its successors and assigns) of the Other part. The expression "the Borrower/s" shall, when the Borrower/s:
a)
If a company, shall unless it be repugnant to the subject or context thereof be deemed to include its successors and assigns,
b)
If A Partnership firm, shall include wherever the context permits or so admits the survivor or survivors of partners of the said firm, their respective heirs, executors, administrators and assigns and the partners for the time being constituting the said firm,
c)
If a Proprietary firm, shall include wherever the context permits, or so admits the heirs, executors, administrators and assigns,
d)
e)
If an Individual, shall include his/her heirs, executors, administrators and assigns, If a Joint and Undivided Hindu Family or Joint Family Firm, shall include all its Coparceners and all members and their respective Heirs, executors, administrators and assigns and
f)
If an Association Corporate or unincorporated shall include its successors and assigns and all members and their respective Heirs, executors, administrators and assigns
WHEREAS the Bank has at the request of the Borrower/s granted/sanctioned to the Borrower/s a ANNEXURE- 18 (CONTD.) Term loan to the maximum extent of Rs______________(Rupees_____________________________
_______________________________________only) for the purpose of purchase of plot of Land and
construction of an Industrial building / shed on the free hold / Iease hold plot of land bearing no______________situated at_______________________admeasuring_____________sq.metres or thereabout standing in the name of the Borrower/s.
OR
purchase of an Industrial gala in the _______________________________________________ _____________________Society Ltd having regd. office at __________________________________ being Gala no.______________situated on plot no.__________________________admeasuring _____________sq.mts., (herein after referred to as "the said immovable properties") on various terms and conditions and securities stipulated by the Bank in the sanctioned letter/s issued to the Borrower/s; WHEREAS one of the conditions stipulated by the Bank is that the said Term Loan is to be secured inter-alia against the security of the first charge by way of equitable mortgage by deposit of Title deeds/ regd. mortgage in favour of the Bank in respect of the aforesaid immovable properties belonging to the Borrower/s which the Borrower/s has agreed to do AND this Loan agreement is agreed to be executed by the Borrower/s for recording entirely the terms and conditions of the Term Loan granted/ agreed to be granted by the Bank to the Borrower/s.
N O W T H E R E FO R E T H IS A G R EE M E N T W ITN E S SE T H A N D IT IS A G R E E D B Y A N D B E T W T H E P A R T IE S H E R E T O A S F O L L O W S :
1. THAT the application dated____________for Term Loan arrangement made by the Borrower/s shall constitute the basis of this Agreement and of the grant of the said Term Loan arrangement; 2. The Bank hereby agrees to lend to the Borrower/s and the Borrower/s agrees to borrow from the Bank, a Term Loan to the maximum extent of Rs_____________(Rupees _______________________________________________________
____________________________________________________________________only) for the purpose
of constructing/purchasing a plot of land for constructing a building/Industrial Gala/Shed by the Borrower/s as stated above/purchasing an Industrial gala/shed as stated above. 3. The said loan amount shall be disbursed to the Borrower/s either in one /two or more instalments as may be decided by the Bank on the basis of schedule of withdrawals to be submitted to the Bank by the Borrower/s.
4.
The Borrower/s hereby undertakes and declares that the Borrower/s shall immediately pay the necessary stamp fees and the registration fees required to be paid under the provisions of the Stamp Act/Indian Registration Act, at the time of executing requisite agreement for purchase, wherever necessary, or any other Agreement relating to the transaction including the Deed of Conveyance.
5.
The Borrower/s agrees to repay the said amount granted/agreed to be granted in_________years with_________monthly/quarterly instalments of Rs_________each interest tax as applicable thereon; including the moratorium period for ______________months/ years as per schedule given hereunder plus interest and
SCHEDULE OF REPAYMENT :
Amount 1. Rs. 2. Rs. 3. Rs. 4. Rs. 5. Rs. 6. Rs. 7. Rs. 8. Rs. 9. Rs. 10. Rs. 11. Rs. 12. Rs. 13. Rs. 14. Rs. 15. Rs.
Instalment Due On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before On or before
ANNEXURE-18(CONTD.)
PROVIDED HOWEVER AND THE BORROWER/S AGREES that in the event of default being committed by the Borrower/s in payment of any of the instalment on its respective due dates in accordance with provisions of this clause or of interest in the manner provided therefore and in such event whole of the balance due to the Bank in the said loan account shall become immediately payable and the Borrower/s hereby agrees to pay the same to the Bank forthwith ON DEMAND. 6. a) The Borrower/s shall pay to the Bank interest on the outstandings in the Loan Account calculated on the daily balance of the said account from time to time and other monies which shall accrue and become payable under the provisions of this agreement on monthly/quarterly basis i.e. on the last working day of the month/quarter ending March, June, September and December every year at the rate equal to % per annum above Dena Bank Base rate (DBBR) prevailing on the date/s of respective disbursement/s of the Loan plus Interest Tax thereon as applicable from time to time AND as on the date the Base Rate of the Bank is _____ % per annum. It is further agreed that all interest calculated as above shall be debited to the account monthly/quarterly every year as aforesaid and henceforth carry interest at the like rate. AND THAT in the event of the Bank making demand for payment on any date not being the date of expiration of any such quarter the Bank shall be at liberty to debit in the account all interest down to the date of demand and to include the same in demand for payment. The Borrower/s shall at all times accept the Bank's figures as correct (manifest error excepted) in or out of Court. AND for the purpose of this clause the term "Base Rate of Dena Bank" means the rate of interest fixed by the Bank from time to time for its advance/s and the Bank shall publish/notify it as and when the same is revised.
7. The Bank shall not be required to make advances in respect of the said Term Loan arrangement with interest________% of the market value (such market value not being in excess of the normal value) of the said immovable properties as stated above and buildings, structures, fixed machinery, erections etc., constructed and structure erected thereon/to be erected/ constructed ANNEXURE -18 (CONTD.)
ANNEXURE -18 (CONTD.) ANNEXURE -18 (CONTD.)

thereon and charged/to be charged to the Bank so that the total advances against all such plot of land and buildings/Industrial gala , fixed plant and machinery, erections etc. referred above shall not with interest exceed the sum of Rs________________(Rupees_____________________
___________________________________________________________only)
8.
All moneys due and payable by the Borrower/s shall be paid at______________Branch of the Bank or at such place as maybe specified by the Bank by telegraphic transfer, telex transfer, mail transfer, cheque or Bank draft drawn on such office of a Scheduled Bank as may beapproved by the Bank and shall be so paid on or before the prescribed date of repayment. The payment shall be considered to be effected only as at the close of the business hours on the date on which the Bank realize the money.
9.
The Borrower/s hereby agrees and undertakes: i) To utilize the loan amount exclusively for the purpose of purchase of plot of land for constructing building/Industrial shed thereon OR purchasing an Industrial gala/shed ii) During the subsistence of the said loan and interest thereon not to create any other charge or encumbrances or alienation of any security given to the Bank in respect of the said loan or to create any interest in such securities in favour of any other party or person without the prior permission of the Bank in writing.
10.
The Borrower/s shall allow and ensure that such facilities as may be necessary for the Bank's representative to inspect at any time all properties in whole or in part out of the proceeds of the said loan, and the books of accounts and other relevant records and documents of the Borrower/s and the securities offered to the Bank.
11.
The Borrower/s shall so long as the loan granted under these presents remain outstanding and payable to the Bank, insure and keep insured to the satisfaction of the Bank, all properties constituting the Bank's security against fire, theft, lightening, explosion, earthquake, riot, strike, storm, tempest and flood and such other risk as may be specified by the Bank for a sum equivalent to the full market value of such properties with an insurance company approved by the Bank, in the joint name of the Bank and the Borrower/s or otherwise as the Bank may require and shall duly and punctually pay all premium and shall not do or suffer to be done any act which may invalidate or avoid such insurance policy with cover note, premium receipts and other document connected therewith. And if the Borrower/s shall fail to do so, the Bank shall be entitled but, not bound, to do so, insure and the said properties with an insurer of his choice in such manner as it may deem fit and any sums paid to the insurer in that connection and any expenses incurred by it in respect thereof shall be deemed to be loan
granted to the Borrower/s under these presents and shall be repaid by the Borrower/ss with
interest at the rate specified in clause 6 hereof on demand made in writing by the Bank in that regard, and any moneys realized from such insurance shall at the option of the Bank, be applied either in reinstating the security affected or lost or in repayment of the loan and the interest and other charges due to the Bank under these presents.
12.
Notwithstanding anything contained herein or any security documents obtained by the Bank from the Borrower/s the whole of the said loan shall at the option of the Bank, become forthwith due and payable by the Borrower/s to the Bank together with interest, additional /penal interest, interest tax as applicable and other charges and expenses occurring thereon in terms of these presents and the Bank shall be entitled to enforce the security on happening of any of the following events viz;
a)
Any interest, additional/penal interest for Rs. 500/- or over, remain unpaid, commitments or other charges due under these presents remaining unpaid and in arrears for a period of one month after the same shall have become due whether demanded or not.
b)
The Borrower/s committing any breach or default in the performance or observance of its duties and obligation under these presents and/or any of the security documents;
c)
The Borrower/s entering into any arrangements or composition with its creditors or commit ting any act of insolvency.
d)
Execution or distress being enforced or levied against the whole or any part of the Borrower's properties;
e) f)
g)
The Borrower/ss going into liquidation/insolvency; A Receiver being appointed in respect of the whole or any part of the Borrower's property The occurrence of any circumstances or event which is prejudicial to or impairs and imperils or jeopardizes or depreciated the security if any given to the Bank
h) (i) j)
If any evidence or information furnished pursuant to clause whereof is subsequently found to be incorrect in any material particular and The occurrence of any event/circumstances which would or is likely to prejudicially or adversely affect in any manner or the capacity of the Borrower/s to repay the said loan or interest and other charges due thereon.
13.
The Borrower/s hereby undertakes to obtain all the necessary permissions from the respective competent authorities whether civic or Government for the purpose of purchase of plot of land and construction of building/Industrial shed thereon or purchase of Industrial gala/shed. ANNEXURE -18 (CONTD.) ANNEXURE -18 (CONTD.)
14.
THAT the Borrower/s hereby agree as pre-condition of the loan/advances (fund based & nonfund based) availed by them from the Bank that in case of default by them in the repayment of The loan/advances or in the repayment of interest thereon or any of the agreed instalment of
the loan on due date/s, the Bank and/or the Reserve Bank of India will have an unqualified right to disclose or publish his/their name/s or the name/s of their company/ firm/unit and its directors/ partners/ proprietors as defaulter in such manner and through such medium as the Bank or the Reserve Bank of India in their absolute discretion may think fit.
15. The Borrower/s understands that as a precondition, relating to grant of the loans/advances, the Bank requires Borrowers consent for the disclosure by the Bank of, information and data relating to Borrower/s, of the credit facilities availed of/to be availed, by the Borrower/s, obligations assumed / to be assumed, by Borrower/s in relation thereto and default if any, committed by Borrower/s in discharging thereof:
i) The Borrower/s hereby agrees and gives consent for the disclosure by Bank of all or any such (a) information and data relating to the Borrower/s (b) the information or data relating to any loan facilities availed of/to be availed by the Borrower/s and (c) default, if any, committed by Borrower/s in discharge of Borrower/s such obligation, as Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. and any other agency authorised in this behalf by RBI. ii) The Borrower/s further declares that the information and data furnish to Bank are true and correct; and iii) The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. and any other agency so authorised my use, process the said information and data disclosed by the Bank in the manner as deemed fit by them and (b) the Credit Information Bureau (India) Ltd. and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them, to Banks/financial institutions and other credit grantors or registered users, as may be specified by the Reserve Bank in this behalf. 16. ASSIGNMENT AND TRANSFER That the Bank shall have right to sell or transfer (by way of assignment, securitisation or otherwise the whole or part of the credit facilities and outstanding amount under the same or any other rights under this agreement or any other documents to any other person in a manner or under such terms and conditions as the Bank may decide under sole discretion. That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaid to accept such person to whom the credit facility is sold or transferred as his lender and
make the repayment of the same to such person as may be directed by the Bank. The BORROWER/S shall not transfer or assign his rights under the agreement. 17. That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all the securities belonging to him/them (which may now be in Banks possession or which may at any time hereafter come into Banks possession) and the proceeds thereof respectively not only for the specific credit limits made thereon but also as collateral ANNEXURE -18 (CONTD.)
security or for any other moneys now due or which may at any time be due from him/them to the Bank whether singly or jointly with another or others. Further in addition to any general lien or similar right to which the Bank as Bankers may be entitled by law, the Bank may at any time and without notice to him/them combine or consolidate all or any of his/their accounts with and liabilities to the Bank and set-off or transfer any sum or sums standing to the credit of any one or more of such accounts in or towards satisfaction of any of his/their liabilities to the Bank on any other account or in any other respect, whether such liabilities be actual or contingent, primary or collateral and several or joint. It is hereby agreed that stamp duty, registration charges, chargeable or which may be held to be chargeable at any time shall be borne by the Borrower/s. 18. *The BORROWER/S further agree, declare, undertake, assure and confirm that the following is the exhaustive list of his /their legal heirs with full address/es, and the said list is furnished to enable the Bank to take steps for recovery of the dues under various credit facilities from any one/some/all of them in the event of his/their demise, or of any one or some or all of us during the currency/ pendency of credit facilities extended by the bank to him/them. Name /Age of Borrower/s/s Name/s , age/s of legal heir/s Relation with the Borrower/s Address Occupation/ Vocation of legal heirs
19.
The BORROWER/S also give hereunder particulars of immovable properties belonging to him/them, which have not been charged to the Bank are also not charged to any Bank/ Financial Institutions / Creditor as security for financial assistance granted to him/them.
20.
Item No.
Particulars of immovable properties with full address (where situated etc.)
In whose names the property stands
Present encumbrances
Whether leasehold or ownership
Present Market value (Rs. In Lacs)
ANNEXURE -18 (CONTD.) 21. The Borrower/s further declares that,

o o o
where the borrower is an individual, that he/she is not a director or specified near relation of directors of a banking company. where the borrower is a partnership firm, that none of the partners is a director or specified near relation of a director of a banking company and where the borrower is a joint stock company, that none of its directors is a director or specified near relation of a director of a banking company.
22.
23.
It is hereby agreed that the stamp duty, registration charges chargeable or which may be held to be chargeable at any time shall be borne by the Borrower/ss. IN WITNESS WHEREOF the Borrower/s has executed these presents on the day, and the year first herein above written.
*THE COMM ON SEAL OF M/s.______________ ) ________________________________________ )

PVT.LTD/LIMITED was affixed )
pursuant to the Resolution passed by its ) Board of Directors on the ) ____________day of_____________20________ ) in the presence of Shri _______________________ ) and Shri ___________________________________ ) DIRECTORS of the Company who have signed ) and countersigned by Shri__________________) _____________________________________ )
INDIVIDUAL BORROW ER/S For M /s. _______________ PROPRIETOR
PARTNERSHIP FIRM For M /s _____________________ _

1)_______________
2)_______________ 3)_______________ 4)_______________

PARTNERS
* Seal of the Company be affixed as per provisions of A rticles of Associations of the Company. LD-18
ANNEXURE-19
LETTER/S OF CREDIT FACILITY AGREEMENT OF HYPOTHECATION (GOODS / MOVABLES)
THIS Hypothecation Agreement made at________________________ this____________ day of

________________in the Christian Year___________________________________________________
BETW EEN_______________________________________________________________ _
(hereinafter called 'the Borrower/s') in which expression are included, unless such inclusion is excluded by or repugnant to the context, its successors and assigns of the One Part and DEN A BANK, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at Dena Corporate Centre, C-10, `G Block, Bandra Kurla Complex, Bandra (E), Mumbai-400051 and its Branch Office amongst other places at ________________________________________________________________________(hereinafter called 'the Bank in which expression are included, unless such inclusion is excluded by or repugnant to the context, its successors and assigns) of the Other Part. The expression "the Borrower/s" shall, when the Borrower/s:
(a)
If a company, shall, unless it be repugnant to the subject or context thereof, be deemed to include their successors and assigns,
(b)
If a Partnership firm, shall include wherever the context permits or so admits, the survivor or survivors of partners of the said firm, their respective heirs, executors, administrators and assigns and the partners for the time being constituting the said firm,
(c)
If a Proprietary firm, shall include wherever the context permits or so admits the heirs, executors, administrators and assigns,
(d) (e)
If an individual, shall include his or her heirs, executors, administrators and assigns. If a Joint and Undivided Hindu Family or a Joint Family Firm, shall include its coparceners and all members and their respective heirs, executors, administrators and assigns and,
ANNEXURE-19(CONTD.)
(0 If an Association, Corporate or Unincorporated, shall include its successors and assigns and all members and their respective heirs, executors, administrators and assigns. WHEREAS at the request of the Borrower/s, Bank has agreed to grant to the Borrower/s the facility by way of opening Letters of Credit (Inland/ Foreign) upto a maximum limit of Rs.___________________ (Rupees___________________________________________________________only) (hereinafter referred to as "the said credit facility") in respect of the Borrower/s' Division /Unit___________________ situated at______________________in the state of_______________on the terms and conditions mentioned in the sanction letter No.___________________dated____________________as may be modified from time to time. AND WHEREAS one of the conditions stipulated by the Bank is that the Borrower/s shall, interalia, by way of security for the due payment of the said sum of Rs.______________(Rupees_____________
_________________________________________________________only) and interest, commission, costs,
charges,and expenses incurred by the Bank in relation thereto, create an exclusive charge/ first charge by way of hypothecation of all goods / store or the movables purchased/imported under the Letter of credit facility, the details of which are given in the schedule II (A-B) as given hereunder.
N O W T H E R E F O R E T H E S E P R E SE N T S W IT N E SS E T H A S F O L L O W S :
(1) In consideration of the Bank having granted/ agreed to grant to the Borrower/s the said credit facility for opening letter/s of credit to an extent not exceeding the sum of Rs.____________ u pe es (R ____________________________________on ly ) at an y
one time the Borrower/s hereby covenants with the Bank to pay and make good to the Bank ON DEMAND all such moneys as may be due and payable by the Borrower/s to the Bank under or in respect of the said credit facility as also interest, commission thereon as mentioned and all costs, charges and expenses AND for the purpose and subject to the terms and conditions specified and contained in the various deeds, documents and writings and in consideration of the premises as aforesaid the Borrower/s doth hereby hypothecate and charge to the Bank by way of exclusive charge/first charge of; (A) All stocks of raw materials, stock in-process, semi finished and finished goods etc., consumable stores and spares, packing materials etc., purchased/imported under the letters of credit facility and more particularly described in Schedule II A hereunder written - both present and future, now being or hereafter during the continuance of this Agreement brought into or upon or now or hereafter in course of transit by road, rail, ship or air to any godown, jathas or other place/s of storage at____________________________________or other
place/s whatsoever and wheresoever in the possession or occupation of the Borrower/s, (hereinafter referred to as the "said goods".
AND / OR
(B) all the tangible, movable properties and assets of the Borrower/s of whatsoever nature comprising Plant, Machinery, tools and accessories, stores, spares relating to the Plant K Machinery, furniture, articles, office equipments, computers and things etc. purchased/imported under the Letters of Credit facility and more particularly described in Schedule II B hereunder written and lying and being at the premises/factories of the Borrower/s at either by way of substitution or in addition or other place whatsoever and wheresoever in the possession or occupation of the Borrower/s (hereinafter referred to as the "said assets") (hereinafter the said goods, and/or the said assets are referred to as the "Hypothecated Premises") as security for payment and discharge by the Borrower/s to the Bank on demand, a sum of Rs.-----------------------------------------------------------/(Rupees________________________________________________________only) and all other moneys at any time payable by the Borrower/s to the Bank under or in respect of aforesaid credit facility granted to the Borrower/s together with all interest, discount, commission, charges, costs (between Advocate and Client) and expenses payable to or incurred by the Bank in relation thereto. 2The Borrower/s expressly agrees and undertakes that all the goods/ plant and machineries purchased/ imported under the said credit facility shall be utilised exclusively for the purposes set forth in the Borrower/s'proposal/s to the Bank and for no other purpose and no change shall be made therein without the written sanction of the Bank.
1.
a) The Borrower/s hereby agrees and confirms that in the event of failure by the Borrower/s to comply with terms of the said Letter of Credit in making the payment there under within the stipulated time to the Bank, the Borrower/s shall pay to the Bank interest on the outstandings in the account/s opened in respect of the Letter of Credit facility, calculated on the daily balance of the said account/s and on other monies which shall accrue and become payable under the provisions of this agreement on quarterly basis, i.e., on the last working day of the quarters ending March, June, September and December every year, at the rate equal to % per annum above the Base Rate of Dena Bank prevailing on the date of is----------------------% per annum. It is devolving the said Letter of credit plus Interest tax as applicable from time to time AND as on date the Base Rate of Dena Bank (DBBR) further agreed that the amount of interest so calculated a aforesaid shall
ANNEXURE-19(CONTD.)
hence forth carry interest at the like rate. AND THAT in the event of the Bank making demand for payment on any date not being the date of expiration of any such quarter the Bank shall be at liberty to debit in the account all interest down to the date of demand and to include the sum in the demand for payment. And that the amount so demanded shall continue to carry interest at the agreed rate until payment with quarterly rests. And that the Borrower/s shall at all times accept the Bank's figures as correct (manifest error excepted) in or out of Court. And for the purpose of this clause the term "Base Rate of Dena Bank" means the rate of interest fixed by the Bank from time to time for its advance/s and the Bank shall publish it as and when the same is revised.
4. That the Bank shall not be required to grant or continue the aforesaid facility otherwise than at the Bank's discretion and in no circumstances for sums exceeding at any one time in the aggregate the sum of Rs.______________(Rupees_________________________________
______________________________________________only) or a sum equal to a stated percentage
of margin stipulated by the Bank against the value (market/normal value whichever is lower) of the hypothecated premises which the Bank may specify from time to time - valuation being done in the manner and at the rates approved by the Bank.
5.
The Borrower/s agrees with the Bank that unless otherwise permitted by the Bank, the Borrower/s shall repay to the Bank forthwith on demand all such amounts as may be standing at the foot of the account(s) under the said credit facility together with interest, compound interest, additional/penal interest plus Interest Tax as applicable, liquidated damages, commission, costs, charges, expenses and other moneys payable thereon. Failure of the Borrower/s to repay shall entail in the Borrower/s being treated as a defaulter and the amount due as in default is recoverable by invoking the provisions as to defaults as hereinafter contained.
6.
That the Borrower/s will at all times maintain a sufficient quantity and market value of the hypothecated premises to provide margin/s of security required by the Bank from time to time and will forthwith, whenever necessary, deposit sufficient cash or provide other security as may be acceptable to the Bank as margin money as stipulated by the Bank in respect of the Letters of Credit opened by the Bank on behalf of the Borrower/s. The Bank shall be entitled to ANNEXURE -19 (CONTD.)
and shall at its sole and absolute discretion change the margin and the Borrower/s shall be bound by it notwithstanding any margin/s earlier agreed to by the Bank.
7.
The Borrower/s further agrees not to open any advance or deposit account with any other Bank/ Banks without the prior consent in writing of Dena Bank during the continuance of the advance.
8.
That the Bank shall be at liberty to have any of the hypothecated premises valued by an appraiser approved by the Bank and the Borrower/s shall render/ give all assistance/ co-operation to such appraiser and the charges, fees and expenses of such appraisement shall be debited tothe said account/s opened by the Bank and shall be a charge on the security created hereunder.
9.
That all the hypothecated premises, the subject of this Agreement, shall be insured to the full extent of the value thereof against all possible risks by the Borrower/s in the joint names of the Borrower/s and the Bank, with an Insurance Company, approved by the Bank to the extent of the total value of "the hypothecated premises" and that the Insurance Policies shall be delivered to the Bank. If the Borrower/s fails to effect such insurance the Bank may, without being bound to do so, insure the said hypothecated premises against all risks in such joint names and debit the premium and other charges to the said accounts opened by the Bank as the case may be. The Borrower/s expressly agrees that the Bank shall be entitled to adjust, settle, compromise or refer to arbitration any dispute between the Borrower/s and the insurer arising under or in connection with such policy or policies and such adjustment, settlement, compromise and any award made on such arbitration shall be valid and binding on the Borrower/s and also to receive all moneys payable under any such policy or under any claim made there under and to give a valid receipt therefore and that the amount so received shall be credited in the said Letters of Credit account and having reference to the said hypothecated premises in respect of which such amount is received and that the Borrower/s will not raise any question that a larger sum might or ought to have been received or be entitled to dispute its liabilities for the balance remaining due on such account after adjustment of such credit.
10.
That the Bank, its Agents and Nominees shall be entitled, at all times without notice to the Borrower/s but at the Borrower/s's risk and expenses and if so required as Attorney for and in the name of the Borrower/s, to enter any place where the said hypothecated premises, may be and inspect, value, insure, superintend, dispose of and/or take particulars of all or any part of the said hypothecated premises and check any statements, accounts, reports and information and for the purpose of such entry to do all acts, deeds and things deemed necessary by the
11.
Bank including breaking open any place where the hypothecated premises and the books of account or other documents relating to the said hypothecated premises may be lying or stored or kept and also on any default of the Borrower/s in payment of any money hereby secured or the performance of any obligation of the Borrower/s to the Bank or breach of any terms in
respect of the said credit facility or the occurrence of any circumstances in the opinion of the Bank endangering this security, to take charge of, seize, recover, receive, take possession of inter-alia, by putting its locks on the godowns and other places where the hypothecated premises or account books and other documents relating to the said debts are lying or kept and to appoint receiver or remove all or any part of the hypothecated premises and also all the books of accounts, papers, documents and vouchers and other records relating thereto, and also to give notices and demands to debtors and third parties liable therefore, sue for recovery, receive and give receipts for the same and/or sell, realise, dispose of, assign and deal with in 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 hypothecated premises 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 carrying on the business of the Borrower/s through Agents, Managers or otherwise without being bound to exercise any of these powers or being liable for any loss in the exercise thereof and without prejudice to the Bank's rights and remedies of suit or otherwise and notwithstanding there may be any pending suit or other proceedings, the Borrower/s undertaking to give immediate possession to the Bank on demand of the said hypothecated premises and to give notices to debtors as and when required by the Bank, to transfer and deliver to the Bank all relative bills, contracts, securities, papers and documents and agreeing to accept the Bank's account of sales, receipts and realisations as sufficient proof of amounts realised and relative expenses and to pay any shortfall or deficiency thereby appearing, provided that the Bank shall be entitled at all times to apply any other money or moneys in its hands standing to the credit of or belonging to the Borrower/s in or towards payment of any amount for the time being payable to the Bank in respect of the said credit facility granted and/or agreed to be granted by the Bank or otherwise as aforesaid and to recover at any time from the Borrower/s by suit or otherwise the balance remaining payable to the Bank in respect of the aforesaid facility or otherwise notwithstanding that all or any of the securities, may not have been realised. 12. That the Borrower/s will submit to the Bank, monthly or often as may be required, statements of the said hypothecated premises, in the form prescribed by the Bank from time to time, with list of current insurance policies and value of hypothecated premises duly verified by certificates of the Borrower/s, that the quantities and amounts stated are correct and that all the hypothecated premises are fully covered by insurance and will also furnish and verify all statements, reports, returns, certificates and information and will also execute all documents and to all acts and things which the Bank may require to give effect hereto and the Borrower/s authorises the Bank and each of its Agents and Nominees as Attorney for and in the name of the Borrower/s to do whatever the Borrower/s may be required to do hereunder.
13 hat this Agreement shall operate as a continuing security for all money, indebtedness and
liabilities aforesaid notwithstanding the existence of a credit balance in the account or accounts at any time or any partial payments or fluctuations of account/s.
14 That nothing herein shall prejudice any rights or remedies of the Bank in respect of any
present or future security, guarantee, obligation or decree for any indebtedness or liability of the Borrower/s to the Bank.
15 That the Borrower/s declares that all the said hypothecated premises are at present in
existence and all the said hypothecated premises over which security may be created hereafter for the aforesaid facility shall be the absolute property of the Borrower/s at 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 and that all the future hypothecated premises to be given as security to the Bank shall be likewise unencumbered, absolute and disposable property of the Borrower/s and the Borrower/s shall not without the Bank's prior permission create any mortgage, charge, lien or encumbrances of any kind upon or over the same or on the undertaking of the Borrower/s (whether movable or immovable) and assets (including uncalled share capital or any part thereof) nor suffer any such mortgage, charge, lien or encumbrance to effect the same or any part thereof nor do or allow anything that may prejudice the security while the Borrower/s remains indebted or liable to the Bank in any manner, without Bank's written consent. The Borrower/s shall also not resort to outside borrowings without the Bank's prior written consent.
16 That subject always to the Bank's rights, powers and privileges under this Agreement or otherwise,
the Borrower/s may with the approval of the Bank and in due course of business sell from time to time the said goods which have been hypothecated to the Bank provided the margin(s) of security required by the Bank are always fully maintained and on the terms of payment and delivery to the Bank of the proceeds thereof the documents relating thereto immediately on receipt thereof and on the express understanding that the security created hereunder and all realisations, recoveries and insurance proceeds thereof and all rights and interest in respect thereof and all documents thereof shall always be kept distinguishable and held as the Bank's exclusive property specifically appropriated to the
security created hereunder to be dealt with only under the directions of the Bank.
17 That the Bank shall not be under any liability whatsoever towards the Borrower/s or any
other person for any loss or damage, to the said hypothecated premises, the subject of this Agreement, in whatever cause or manner arising whether such hypothecated premises shall be in
of the B ank or not at the tim e of such loss or dam age or the happening of the cause thereof. Borrow er/s shall at all tim es indem nify and keep indem nified the Bank from The and against all suits, proceedings, costs, charges, claim s and dem ands w hatsoever that m ay at any tim e arise or brought or m ade by any person against the B ank in respect of any acts, m atters and things law fully done or caused to be done by the B ank in connection w ith the said hypothecated ises or in pursuance of the rights and pow ers of the B ank under this prem A greem ent. 18 T hat the B orrow er/s sh all display th e B ank 's nam e on th e go do w n, facto ry and o ther p laces approved by the Bank where the hypothecated prem ises charged to the Bank and against which lim it/s for purposes of draw ings have been fixed under the aforesaid facility have been stored indicating that such goods and assets are hypothecated to the B ank.
19 The Borrower/s understands that
the possession
as a precondition, relating to grant of the loans/advances, the Bank requires Borrowers consent for the disclosure by the Bank of, information and data relating to Borrower/s, of the credit facilities availed of/to be availed, by the Borrower/s, obligations assumed / to be assumed, by Borrower/s in relation thereto and default if any, committed by Borrower/s in discharging thereof: The Borrower/s hereby agrees and gives consent for the disclosure by Bank of all or any such (a) information and data relating to the Borrower/s (b) the information or data relating to any loan facilities availed of/to be availed by the Borrower/s and (c) default, if any, committed by Borrower/s in discharge of Borrower/s such obligation, as Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. and any other agency authorised in this behalf by RBI. (ii) The Borrower/s further declares that the information and data furnish to Bank are true and correct; and (iii) The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. and any other agency so authorised my use, process the said information and data disclosed by the Bank in the manner as deemed fit by them and (b) the Credit Information Bureau (India) Ltd. and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them, to Banks/financial institutions and other credit grantors or registered users, as may be specified by the Reserve Bank in this behalf.
19. ASSIGNMENT AND TRANSFER That the Bank shall have right to sell or transfer (by way of assignment, securitisation or otherwise the whole or part of the credit facilities and outstanding amount under the same or any other rights under this agreement or any other documents to any other person in a manner or under such terms and conditions as the Bank may decide under sole discretion. That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaid to
accept such person to whom the credit facility is sold or transferred as his lender and make the repayment of the same to such person as may be directed by the Bank. The BORROWER/S shall not transfer or assign his rights under the agreement.
20.
That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all the securities belonging to him/them (which may now be in Banks possession or which may at any time hereafter come into Banks possession) and the proceeds thereof respectively not only for the specific credit limits made thereon but also as collateral security or for any other moneys now due or which may at any time be due from him/them to the Bank whether singly or jointly with another or others. Further in addition to any general lien or similar right to which the Bank as Bankers may be entitled by law, the Bank may at any time and without notice to him/them combine or consolidate all or any of his/their accounts with and liabilities to the Bank and set-off or transfer any sum or sums standing to the credit of any one or more of such accounts in or towards satisfaction of any of his/their liabilities to the Bank on any other account or in any other respect, whether such liabilities be actual or contingent, primary or collateral and several or joint. It is hereby agreed that stamp duty, registration charges, chargeable or which may be held to be chargeable at any time shall be borne by the Borrower/s.
21.
*The BORROWER/S further agree, declare, undertake, assure and confirm that the following is the exhaustive list of his /their legal heirs with full address/es, and the said list is furnished to enable the Bank to take steps for recovery of the dues under various credit facilities from any one/some/all of them in the event of his/their demise, or of any one or some or all of us during the currency/ pendency of credit facilities extended by the bank to him/them. Name /Age of Borrower/s/s Name/s , age/s of legal heir/s Relation with the Borrower/s Address Occupation/ Vocation of legal heirs
22.
The BORROWER/S also give hereunder particulars of immovable properties belonging to him/them, which have not been charged to the Bank are also not charged to any
23.
Bank/ Financial Institutions / Creditor as security for financial assistance granted to him/them.
Item No.
Particulars of immovable properties with full address (where situated etc.)
In whose names the property stands
Present encumbrances
Whether leasehold or ownership
Present Market value (Rs. In Lacs)
24.
The Borrower/s further declare that, where the borrower is an individual, that he/she is not a director or specified near relation of directors of a banking company. where the borrower is a partnership firm, that none of the partners is a director or specified near relation of a director of a banking company and where the borrower is a joint stock company, that none of its directors is a director or specified near relation of a director of a banking company.
o
25.
26.
T H A T the B orrow er/s hereby agree as pre-condition of the loan/advances (fund based and non- fund based) availed by them from the Bank that in case of default by them in the repaym ent of e lo an / a dv an ces or in the re pa ym en t o f interes t th ereon o r a ny of th e th
a gree d instalm e nt the loan on due date/s, the B ank and/or the Reserve Bank of India will of have an unqualified right d is c lo s e o r p u b lis h h is /th e ir n a m e /s o r th e n a m e /s o f th e ir to c o m p a n y / firm /u n it a n d directors / partners/ proprietors as defaulter in such m anner its and through such m edium as Bthe or the R eserve B ank of India in their absolute ank discretion m ay think fit.
T H E SC H E D U L E 1 A B O V E R E F E R R E D T O
NATURE OF CREDIT FACILITY 1 2 3 4 SANCTIONED LIMIT (Rs. In lacs) INTEREST RATE/ COMMISSION
T H E SC H E D U L E II (A -B ) A B O V E R E F E R R E D T O
A D ETA ILS O F H Y PO TH EC A TED G O O D S :

B DETAILS OF HYPOTHECATED ASSETS : IN WITNESS WHEREOF the Borrower/s has executed these presents under their hands and seal/ affixed their Common Seal the day, month and year first hereinabove written.
* THE COMMON SEAL OF M/s._____________ )

PVT.LTD/LIMITED was affixed ) pursuant to the Resolution passed by its ) Board of Directors on the ) _____________day of_____________20 _____________) in the presence of Shri _______________________ ) and Shri ___________________________________ ) __________________________________________ ) DIRECTORS of the Company who have signed ) and countersigned by Shri___________________)
PA R T N E R S H IP FIR M
FOR M/S. __________________________________ 1).________________________________ 2). _____________________________ 3). ______________________________ 4) ______________________________ PARTNERS INDIVIDUAL BORROWER/S
For M/s. ________________________________ PROPRIETOR

* Seal be affixed as per provisions of AOA
LD-19
ANNEXURE 21
M EM ORANDU M O F A GREEM EN T FO R H YPO THECATIO N O F

PLANT MACHINERY UNDER DEFERRED PAYMENT GUARANTEE SCHEME
MEMORANDUM OF AGREEMENT made at__________________this the____________day of

_______________________in the Christian Year_____________________________________________
by M/s. _____________________________________________________LIMITED, a Company, incorporated under the Companies Act, 1956 and having its Registered Office at__________________
_____________________________________________________________________hereinafter referred to as
"the Borrower/s" (which expression shall include wherever the context so admits, its successors and assigns) of the One Part
OR
Shri____________________________________________________carrying on sole proprietorship business under the name and style of M/s._________________________________________________ at_______________________________________________________hereinafter referred to as "the Borrower/s" (which expression shall include wherever the context so admits, his heirs, executors, administrators and assigns) of the One Part
OR (1)
(2) (3)
Shri__________________________________________ Shri__________________________________________
Shri____________________________________________
carrying on business in partnership under the name and style of the firm M/s._______________________
_____________________at__________________________________________________
hereinafter referred to as "the Borrower/s" (which expression shall include wherever the context so admits, their respective heirs, executors, administrators & assigns) of the One Part AND DENA
BANK, a body corporate, constituted under the Banking Com panies (Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at Corporate Centre, C-10, `G Block, Dena
Bandra Kurla Complex, Bandra (E), Mumbai-400051 and a B ranch O ffice am ongst other
pla ces at __________________________________________________________________

____________________________________hereinafter called "the G uarantors" (which expression shall
unless it be repugnant to the subject or context thereof include its successors and assigns) of the Other Part. WHEREAS the Borrower/s has applied to the Guarantors for an arrangement to an aggregate lim it
of
Rs._________(Rupees _____________________________________________________only) plus interest thereon by way of issuing deferred payment guarantee in favour of __________________
_________________________________________________________ (hereinafter referred to as 'the said
suppliers') for the plant and machinery purchased by the Borrower/s and/or to accept usance bills drawn and/or to be drawn on the Borrower/s by the said Suppliers and which Bills are payable to the said Suppliers and/or their Bankers and are to be discounted under the Industrial Development Bank of India (IDBI) scheme of rediscounting and will be duly paid on the respective maturity dates which arrangement the Guarantors have agreed to grant to the Borrower/s upon the Borrower/s on its part securing the Guarantors against all and any liabilities undertaken by the Guarantors under and/or inrespect of the guarantees issued and/or the usance bills accepted and/ or to be accepted as aforesaid and all commission, costs, discount, interest and other charges thereon and of all costs, charges and expenses incurred by the Guarantors and interest thereon interalia by hypothecation of the machineriespurchased and/or to be purchased under the said arrangement by way of issuing deferred payment guarantee and/or acceptance of usance bills in the manner hereinafter expressed.
N O W T H E S E P R E S E N T S W IT N E S S A N D IT IS H E R E B Y anG Retw een th e p arties y A d b EED h ereto as follow s:

1. In consideration of the Guarantors having at the request of the Borrower/s agreed to grant and/ or g ra n te d a rra n ge m e n t to th e a g g re g a te lim it of Rs. __________________ (Rupees___________________________________________________________only) _ plus interest thereon, by way of issuing deferred payment guarantee in favour of (mention the name of the suppliers) ____________________________________________________and/or to accept usance bills drawn / to be drawn on the Borrower/s by the said Suppliers which bills are payable to the said Suppliers or their Bankers, the Borrower/s doth hereby covenant with the Guarantors that the Borrower/s shall on demand repay to the Guarantors all moneys by payable the G uarantors under and/or in respect of the aforesaid arrangem ent by way of issuing
guarantees and/or acceptance of the said usance bills upto an aggregate maximum limit as hereinabove mentioned plus interest thereon and discount, and/or commission thereon at the stipulated rate or rates or at such other rate or rates as may be notified by the Guarantors to the Borrower/s including all costs, charges and expenses incurred by the Guarantors thereon. 2. In pursuance of the said Agreement and for the consideration aforesaid, the Borrower/s doth hereby as security for the moneys due and payable by the Borrower/s to the Guarantors under and/or in respect of the said guarantees issued and/or to be issued and/or the usance bills accepted and/or to be accepted up to a maximum limit as hereinabove mentioned plus interest thereon and discount, and/or commission, costs, charges and expenses and/or payment, performance and discharge of all moneys, obligations and liabilities in respect thereof, hypothecate to the Guarantors by way of firs t c harge the s aid (desc ription of mac hineries )_______________________________________________spares and stores purchased and/or to be purchased under the said arrangement by way of issue of guarantees and/or the acceptance of usance bills which machineries are hereinafter referred to as "the hypothecated premises" which expression shall include all fittings, tools, accessories, and parts whatsoever pertaining to the said machineries and all replacements or additions made therein or thereto from time to time. 3. a) The Borrower/s agrees that the amount that may be due and payable by the Borrower/s to the said suppliers, at the foot of the said arrangement by way of issuing of guarantees and/or the acceptance of usance bills up to the maximum limit as stated hereinabove plus interest thereon and discount, and/or commission, costs, charges and expenses shall be payable to the Guarantors at the office of the Guarantors together with interest at the rate ____% per annum above Dena Bank Base Rate(DBBR) prevailing then, the present rate being_____% per annum with interest tax as applicable together with the amount of all further costs, charges, expenses and damages, if any, to the date of realisation of the dues of Guarantors provided that nothing in this clause shall be deemed to prevent the Guarantors from demanding payment of discount, interest and/or commission for the time being due and other amounts payable by the Borrower/s without at the same time demanding payment of the principal of the said guaranteed amounts or any part thereof exclusive of such discount, interest or commission or other amounts. b) The Borrower is aware and confirms that the Bank shall at any time and from time to time be entitled to review/change the rate of interest of its own or as may be mandated by RBI or the Government and such revised rate of interest shall always be construed as agreed to be paid by the Borrower(s) and hereby secured. Borrowers shall be deemed to have notice of change in rate of interest whenever the change in the interest rate are displayed/notified at /by the Branch as per the Policy of the Bank/RBI.
c) Interest tax and other taxes/levies as may be applicable from time to time on the
loan/credit facilities shall be born solely by the Borrower.
4.
The Borrower/s shall pay to the Guarantors a commission of______________per annum on the amount of each deferred instalment inclusive of interest and interest tax thereon as stated hereinabove in respect of the said deferred payment guarantee in favour of the said Suppliers of Plant & Machinery and/or acceptance of usance bills drawn and/or to be drawn on the ANNEXURE-21 (CONTD.) Borrower/s by the said Suppliers commencing from the date of signing of such guarantee and/or acceptance of usance bills until the date of payment of such deferred instalment by the Borrower/s.
5.
The Borrower/s shall indemnify and keep the guarantors indemnified, safe, defended and harmless in respect of each and every obligation and liability undertaken or payment made by the Guarantors under or in respect of the said deferred payment Guarantee facility and/or acceptance of usance bills as aforesaid.
6.
It is expressly agreed by and between the parties hereto that all entries in the books of account of the Guarantors kept in the ordinary course of business with regard to the payments that may be made by the Guarantors to the said Suppliers of machineries or any of them under the said guarantees and/or the said usance bills and with regard to all discount, interest, commission, costs, charges and expenses debited to the Borrower/s and to be recoverable from the Borrower/s shall be conclusive evidence of the same being due and payable by the Borrower/s under these presents and of the transactions and matters therein appearing and shall be final, conclusive and binding upon the Borrower/s.
7.
The hypothecated premises shall at all times during the currency of this security and so long as any monies shall remain due and owing under the said arrangements be maintained in good and working condition and insured and kept insured by and at the expenses of the Borrower/s against fire, riot and civil commotion if and when required by the Guarantors or be required by law to the full extent of the value thereof in an Insurance Company approved by the guarantors in the name of the Guarantors or in the name of the Borrower/s and assigned to the Guarantors and in either case the policies shall be handed over to the Guarantors. The Borrower/s shall duly and punctually pay the premia due on the policies at least one week before the same shall have become due or payable and produce the receipts to the Guarantors as and when called upon to do so and the Borrower/s agrees not to raise at any time any disputes as to the amount of the insurable interest of the Guarantors. If the Borrower/s shall make default in effecting such insurance as aforesaid or renewing any policy or in payment of such premia or keeping the hypothecated premises so insured or in delivering to the Guarantors the policies or receipts for
the premia, itshall be lawful (but not obligatory) for the Guarantors to effect such insurance or to renew or to pay such premia and to keep the Hypothecated Premises so insured and to debit the expenses incurred by the Guarantors for the purpose to the Borrower/s and the same shall be treated as monies secured by this Agreement and the Borrower/s agrees to pay the same on demand with interest as provided in Clause 3 hereof. All sums received under any such insurance as aforesaid shall after deduction there out of all expenses be applied in or towards the liquidation of the balance due to the Guarantors for the time being & the event ANNEXURE - 21 (CONTD.) of there being a surplus, the same shall be applied as provided in Clause 16(c) hereof. The Borrower/s agrees that if any moneys under any such insurance are received by the Borrower/s, the Borrower/s will pay the same forthwith to the Guarantors.
8.
It shall be lawful for the Guarantors and its Agents without notice and at the expenses in all respects of the Borrower/ss to enter at any time into or upon the factories, offices, godowns, or jathas of the Borrower/s or places of storage of any of the hypothecated premises for the purpose of taking inspection of or checking the hypothecated premises and taking account and inspecting of the books of account of the Borrower/s (which the Guarantors are hereby authorised to do) and it shall also be lawful for the Guarantors from time to time as it may deem fit to have all or any of the hypothecated premises for the time being so hypothecated as aforesaid valued by anappraiser or other valuer to be appointed by the Guarantors and all such expenses and the fees and expenses of such valuation shall be debited to the Borrower/s and be payable accordingly and shall until payment be treated as monies secured by these presents.
9.
The Borrower/s shall if so required by the Guarantors cause and in default the Guarantors may themselves cause a board or boards with the name of the Guarantors legibly and distinctively printed or written thereon to be placed and at all times maintained in a conspicuous position upon and within all factories, godowns, jathas or other places of storage into or upon which any of the hypothecated premises for the time being hypothecated and charged as aforesaid are or shall be brought during the continuance of this Agreement.
10.
In the event of the Guarantors taking charge and/or possession of all or any part of the hypothecated premises in pursuance of the powers reserved to the Guarantors under clause 15 hereof, the Borrower/s shall forthwith upon obtaining lease or licence to occupy any factory, godown or jatha or any place containing any of the hypothecated premises which is not their own property if so required by the Guarantors register the same in the name of the Guarantors and hand over the receipts for any rents or other dues payable in respect thereof to the Guarantors and keep the Guarantors indemnified against all liability in consequence of such transfer or registration in the Guarantors name and any sum becoming payable to the Guarantors by reason of such indemnity shall be debited to the Borrower/s and
shall carry like interest and shall be treated as monies secured by this Agreement.
11.
The Borrower/s shall during the continuance of this Agreement furnish to the Guarantors every month or at such intervals as may be stipulated by the Guarantors a full and correct written statement with such particulars as the Guarantors may require of the hypothecated premises together with market value or (where the market value exceeds the normal value) the normal value thereof and produce such evidence in support thereof as the Guarantors may from time to time require. The Borrower/s shall render unto the Guarantors such statement
on or before the 10th day of each and every month. 12. The Borrower/s shall on demand in writing by the Guarantors forthwith deliver to the Guarantors an account of such part of the hypothecated premises as shall also in the course of transit to_____________or elsewhere and shall on demand by the Guarantors deliver the Railway Receipts or other documents of title in respect thereof duly endorsed to the Guarantors as the Guarantors shall direct. 13. The Borrower/s shall not at any time during the continuance of this Agreement and so long as there shall be any balance due by the Borrower/s to the Guarantors remove or cause or permit to be removed from the said factory, godowns or jathas or other places of storage any of the hypothecated premises or divert or deal with to the detriment of the Guarantors any part of the hypothecated premises which may be in the course of transit to or elsewhere to the factory, jathas or godowns or other places of storage of the Borrower/s and shall not do or permit to be done any act or thing whereby the security of the Guarantors may be impaired or affected and in particular and without any prejudice to the above shall not create or allow to be created a mortgage, hypothecation, pledge, charge or other encumbrances or lien over the hypothecated premises or any of them.
14.
This Agreement is made on the faith (a) of the declaration which the Borrower/s hereby makes that the hypothecated premises now and from time to time hereafter comprised in the security hereby created are and will at all times be the absolute property of the Borrower/s (except for and subject to the security hereby created) and free from other trust, pledge, lien, claim or encumbrances and (b) on the undertaking hereby given by the Borrower/s to the Guarantors, that the Borrower/s will not without the written consent of the Guarantors create in any manner any charge, lien or other encumbrances upon the hypothecated premises during the currency of the said arrangement in favour of any other party or person.
15.
If the Borrower/s shall fail to carry out and perform any of the obligations under these presents or in the event of the Borrower/s failing to pay the amounts of the said usance bills on their due dates or in the event of any damage occurring to the hypothecated premises from any
cause whatsoever or if an order for winding up has been made against the Borrower/s or if the Borrower/s passes a resolution for winding up its Company or if a decree or order for payment of money is passed or made against the Borrower/s by a Court of Law and remains unsatisfied for 7 days after passing or making of the said order or decree or if execution is levied against any property of the Borrower/s or if any event shall happen or is believed by the Guarantors to have happened so as in the opinion of the Guarantors to impair the security hereby created or the credit of the Borrower/s or if the Guarantors shall be of opinion that the
security hereby created is, otherwise imperiled (as to all or any of which matters the opinion of the Guarantors shall be conclusive and binding on the Borrower/s) it shall be lawful for the Guarantors, its Agents and nominees with a view to obtain possession for and on behalf of the Guarantors at all times and without assigning any reason and without any previous notice to the Borrower/s but at the Borrower/s's risk and expenses and if so required as Attorney for and in the name of the Borrower/s (but not so as to alter the character of the possession which shall be the possession of the Guarantors) to enter any place where the hypothecated premises or any of them may be and take charge and/ or possession of all or any part of the hypothecated premises and the Borrower/s shall afford every facility for placing and shall place the hypothecated premises and every part thereof as the Guarantors may require in the exclusive possession of and the exclusive control of the Guarantors and in such manner that such possession and control shall be apparent and indisputable. The Borrower/s shall on demand deliver to the Guarantors the keys of any place in which any of the hypothecated premises may from time to time be stored. In default the Guarantors may take any necessary steps to open and close the said place without any further notice. At any time after taking possession the Bank may place the said godown or godowns or other place or places of storage in charge of a clerk or clerks and/or durwan or durwans or muccadum appointed by the Bank who shall hold the possession of the hypothecated premises and the Borrower/s shall pay regularly on or before the first of every month the monthly salaries of such clerks and durwans or charges of muccadum who may be placed by the Guarantors in charge of the said godown or godowns of other place or places of storage to hold possession for and on behalf of the Guarantors of the hypothecated premises and the Borrower/s shall provide suitable lodgings in the compound of the said godowns for such clerks and durwans and shall pay upon demand all the travelling, boarding and housing accommodation cost and expenses of or in connection with the sending at any time of a representative or representatives of the Guarantors to such place or places to inspect the said goods and the fees and expenses of an appraiser or valuer or valuers. Any moneys payable by the Borrower/s under this clause shall until payment by the Borrower/s, be debited to the Borrower/s and be payable accordingly and shall/ until payment be treated as
monies secured by this Agreement. ANNEXURE - 21 (CONTD.) The Guarantors shall not be in any way liable or responsible for any loss, damage or depreciation which the hypothecated premises may suffer or sustain on any account whatsoever while the same are in possession of the Guarantors during the continuance of this Agreement or thereafter and all such damage or depreciation shall be wholly on account of the Borrower/s howsoever the same have been caused nor shall the Guarantors be responsible for any shortage resulting from theft or pilferage or otherwise howsoever notwithstanding that the hypothecated premises may be in the possession of or under the control of the Guarantors. 16. (a) It shall be lawful for the Guarantors at any time after taking possession of the hypothecated premises without assigning any reason after 48 hours' notice to the Borrower/s demanding payment (which the Borrower/s hereby agrees to be reasonable notice) or at any time or times thereafter (without prejudice to the Guarantor's right of suit or any other right against the Borrower/s) to recover, receive, appoint receivers or remove and/or sell either by public auction or private contract subject to such conditions as the Guarantors shall think fit or otherwise dispose of or deal with at any time or times the hypothecated premises or any part or parts thereof and to enforce, realise, settle, compromise and to deal with any rights or claims regarding any of the hypothecated premises without being bound to exercise any of these powers or liable for any losses in the exercise or non-exercise thereof and notwithstanding there may be any pending suit or other proceedings the Borrower/s undertakes to transfer and deliver to the Guarantors all relative contracts, securities, bazar chits, bills, notes, hundies and documents. The Borrower/s hereby agrees that the Guarantors shall be entitled to admit, reject, refer to arbitration or compromise without consulting the Borrower/s any claims by any other person to the hypothecated premises or any part thereof and that the Borrower/s shall be bound by the Guarantor's decision and that any loss or damage or costs or expenses that may arise or be caused by such decision shall be at the risk and on account of the Borrower/s. (b) The Guarantor shall apply the net proceeds of the sale of the premises in satisfaction so far as the same shall extend to the balance due to the Guarantors or so much thereof as shall remain unpaid including discount, interest and/or commission at the rate aforesaid until payment and inclusive of all costs as between Attorney and Client, charges and expenses incurred by the Guarantors. The Borrower/s shall be liable forthwith on production to the Borrower/s an account to be prepared and signed as provided in clause 16(e) hereof (which shall be conclusive) to pay the balance appearing due to the Guarantors. Without prejudice to such obligation of the Borrower/s, the Guarantors shall be entitled (but shall not be bound) to apply any other money or
ANNEXURE-21 (CONTD.) moneys in the hands of the Guarantors standing to the credit of or belonging to the Borrower/s or any money which the Borrower/s may then or at any time thereafter be entitled to draw from the Guarantors under any loan, Cash Credit, Overdraft or Guarantee or other arrangement or goods, the property of the Borrower/s stored in the Guarantor's premises or godowns in or towards payment of the balance for the time being due to the Guarantors, and in the event of such money being insufficient for the discharge in full of such balance, the Borrower/s shall be liable forthwith on production to the Borrower/s of an account to be prepared and signed as in clause 16(e) hereinafter provided (which shall be conclusive) to pay any balance which may appear to be due by the Borrower/s thereon PROVIDED ALWAYS that nothing herein contained shall be deemed to negative, disqualify or otherwise prejudicially affect the rights of the Guarantors (which it is hereby expressly agreed the Guarantors shall have) to recover from the Borrower/s the balance for the time being remaining due from the Borrower/s to the Guarantors notwithstanding that all or any of the hypothecated premises may not have been realised.
(c)
In the event of there being a surplus available of the net proceeds of such sale after payment in full of the balance due to the Guarantors it shall be lawful for the Guarantors to retain and apply the said surplus together with any other money or moneys belonging to theBorrower/s for the time being in the hands of the Guarantors in or under whatever accounts as far as the same shall extend against in or towards payment or liquidation of any and all other moneys which shall be or may become due from the Borrower/s whether solely or jointly with any other person or persons, firm or company to the Guarantors by way of loans, discounted bills, letters of credit, guarantees, charges or of any other debts or liability including bills, notes, credits and other obligations current though not then due or payable or other demands legal or equitable which the Guarantors may have against the Borrower/s or which the law of set-off or mutual credit would in any case admit and whether the Borrower/s shall be in liquidation or otherwise with interest thereon from the date on which any and all advances in respect thereof shall have been made at the rate or respective rates at which the same shall have been so advanced.
(d)
If after the settlement of all claims of the Guarantors against the Borrower/s any surplus shall remain, the Guarantors shall pay such surplus to the Borrower/s.
(e)
The Borrower/s agrees to accept without question in and out of Court as conclusive proof of the amount realised by any such sale as aforesaid and of any sum claimed to be due from the Borrower/s to the Guarantors under this Agreement and of the costs and expenses incurred in ANNEXURE-21 (CONTD.) connection therewith a statement of account made out from the computer floppy and/or
Books of the Guarantors and signed by the Manager or the Agent or the Accountant or other duly authorised officer of the Guarantors without the production of any other voucher, document or paper.
17.
This agreement and the security herein referred to, shall be the security for the payment by the Borrower/s of the balance due to the Guarantors from time to time and also of the ultimate balance with interest thereon to become payable by the Borrower/s to the Guarantors.
18.
The Borrower/s shall duly and punctually pay, perform and observe all rents, rates, taxes, assessments and other outgoings whatsoever covenants and obligations which ought to be paid or observed or performed by the Borrower/s in respect of the premises in which any of the hypothecated premises may from time to time be situated.
19.
Any notice in writing required to be served hereunder shall be sufficiently served if addressed to the Borrower/s at his address registered with the Guarantors or in the event of no such address being registered at the last known place of residence or business and left at such address or place or forwarded to him by post at the address or place aforesaid. A notice sent by post shall be deemed to be given at the time when in due course of post it would be delivered at the address to which it is sent, and in proving such notice when given by post it shall be sufficient to prove that the envelope containing the notice was posted and a certificate signed by the Guarantor's Local Manager or Agent or Accountant or other authorised officer that the envelope was so posted shall be conclusive. If for any reason the Borrower/s cannot be given any such notice the same inserted once in advertisement in a newspaper circulating in the District of the Guarantor's Office shall be deemed to have been effectively given and received on the day on which such advertisement appears.
20.
The Borrower/s hereby agrees on demand by the Guarantors in that behalf to execute the documents in favour of the Guarantors as may be necessary or advisable to hypothecate or further assure the hypothecated premises in favour of the Guarantors.
21.
No change whatever that may take place in the constitution of the Borrower/s or Guarantors (whether by amalgamation or otherwise) shall impair or discharge the liability of the Borrower/s.
22.
The Borrower/s understands that as a precondition, relating to grant of the loans/
advances, the Bank requires Borrowers consent for the disclosure by the Bank of,
information and data relating to Borrower/s, of the credit facilities availed of/to be availed, by the Borrower/s, obligations assumed / to be assumed, by Borrower/s in relation thereto and default if any, committed by Borrower/s in discharging thereof:
The Borrower/s hereby agrees and gives consent for the disclosure by Bank of all or any such (a) information and data relating to the Borrower/s (b) the information or data relating to any loan facilities availed of/to be availed by the Borrower/s and (c) default, if any, committed by Borrower/s in discharge of Borrower/s such obligation, as Bank may deem appropriate and necessary, to disclose and furnish to Credit Information Bureau(India) Ltd. and any other agency authorised in this behalf by RBI.
The Borrower/s further declares that the information and data furnish to Bank are true and correct; and The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. and any other agency so authorised my use, process the said information and data disclosed by the Bank in the manner as deemed fit by them and (b) the Credit Information Bureau (India) Ltd. and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them, to Banks/financial institutions and other credit grantors or registered users, as may be specified by the Reserve Bank in this behalf. 23. ASSIGNMENT AND TRANSFER That the Bank shall have right to sell or transfer (by way of assignment, securitisation or otherwise the whole or part of the credit facilities and outstanding amount under the same or any other rights under this agreement or any other documents to any other person in a manner or under such terms and conditions as the Bank may decide under sole discretion. That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaid to accept such person to whom the credit facility is sold or transferred as his lender and make the repayment of the same to such person as may be directed by the Bank. The BORROWER/S shall not transfer or assign his rights under the agreement. 24. That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all the securities belonging to him/them (which may now be in Banks possession or which may at any time hereafter come into Banks possession) and the proceeds thereof respectively not only for the specific credit limits made thereon but also as collateral security or for any other moneys now due or which may at any time be due from him/them to the Bank whether singly or jointly with another or others. Further in addition to any general lien or similar right to which the Bank as Bankers may be entitled by law, the Bank may at any time and without notice to him/them combine or consolidate all or any of his/their accounts with and liabilities to the Bank and set-off or transfer any sum or sums standing to the credit of any one or more of such accounts in or towards satisfaction of any of his/their liabilities to the Bank on any other account or in any other respect, whether such liabilities be actual or contingent, primary or collateral and several or joint.
It is hereby agreed that stamp duty, registration charges, chargeable or which may be held to be chargeable at any time shall be borne by the Borrower/s. *The BORROWER/S further agree, declare, undertake, assure and confirm that the following is the exhaustive list of his /their legal heirs with full address/es, and the said list is furnished to enable the Bank to take steps for recovery of the dues under various credit facilities from any one/some/all of them in the event of his/their demise, or of any one or some or all of us during the currency/ pendency of credit facilities extended by the bank to him/them. ANNEXURE-21 (CONTD.)
Name /Age of Borrower/s/s
Name/s , age/s of legal heir/s
Relation with the Borrower/s
Address
Occupation/ Vocation of legal heirs
The BORROWER/S also give hereunder particulars of immovable properties belonging to him/them, which have not been charged to the Bank are also not charged to any Bank/ Financial Institutions / Creditor as security for financial assistance granted to him/them. Item No. Particulars of immovable properties with full address (where situated etc.) In whose names the property stands Present encumbrances Whether leasehold or ownership Present Market value (Rs. In Lacs)
28.
The Borrower/s further declares that, where the borrower is an individual, that he/she is not a director or specified near relation of directors of a banking company. where the borrower is a partnership firm, that none of the partners is a director or specified near relation of a director of a banking company and where the borrower is a joint stock company, that none of its directors is a director or specified near relation of a director of a banking company.
o
ANNEXURE-21 (CONTD.) 29. The Borrower/s further declares that there is no court case pending, of any Banks / Financial Institutions / against me / us / any Partner / Director / Firms / Company. OR Details of court cases pending against me / us / any Partner/ Director / Firms/ Company are as under:Suit Date Amount Particular of the case Remark / Present Status No. (in lacs)
30.
THAT the Borrower/s/s hereby agree/s as pre-condition of the loan/advances (fund based and non-fund based) availed by them from the Bank that in case of default by him/her/them in the repayment of the loan/advances or in the repayment of interest thereon or any of the agreed instalment of the loan on due date/s, the Bank and/or the Reserve Bank of India will have an unqualified right to disclose or publish his/her/their name/s or the name/s of their company/ firm/unit and its directors/ partners/ proprietors as defaulter in such a manner and through such a medium as the Bank or the Reserve Bank of India in their absolute discretion may think fit. THE SCHEDULE HEREINABOVE REFERRED TO (Details of items purchased and to be purchased)
Sr.No. 1. 2
Name of Machinery
Manufacturer's name
Quantity
. 3 . 4 . 5 .
*IN WITNESS WHEREOF the Common Seal of the Borrower/s has been hereunto affixed the day and year first hereinabove written
* THE COMMON SEAL OF ) M/s. ____________________________ ) ________________________________ ) ________________________________ ) Limited was pursuant to the ) Resolution of its Board of Directors ) passed on the _______day of ________ ) _______________hereto affixed in the ) presence of Shri __________________ ) ________________________________ ) Shri ____________________________ ) ________________________________ ) Directors of the Company who has/have ) Signed these presents )
OR
* Seal be affixed as per provisions of Articles of Association
* IN W ITNESS WHEREOF the Borrower/s has/ have hereunto set and subscribed his/ their hand/s at _ the day and the year first hereinabove written. For M/s ______________________ (___________________________) Proprietor For M /s _______________________ 1. ___________________________ 2. ______________________________ 3. ______________________________ 4. ____________________________ PARTNERS *Retain whichever is applicable
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ANNEXURE-16

a s w e ll a s fo r e ig n , a n d s u c h o th e r fa c ilitie s a s m a y b e a g r e e d u p o n fro m tim e to tim e b e tw

o t h e r assets. B) Personal G uarantee of --------------------------------------------------------------------------------------------

G o o d w ill/B ra n d o r a n y o t h e r In te lle c tu a l P r o p emovableh properties and assets of the r t y r ig t )

ANNEXURE -16 (CONTD.)

ANNEXURE -16 (CONTD.)

* Applicable for Individual Borrowers only.

immovable properties with full address (where situated etc.)

names the property stands

Market value (Rs. In Lacs)

The Borrower/s further declare that,

ANNEXURE -16 (CONTD.)

SCHEDULE B R EPA Y M EN T O F TER M LO A N

**THE COMMON SEAL OF M/s.______________________________)

of Association of the Company.

LOAN AGREEM ENT FOR LAND AM D BUILDING/INDUSTRIAL G ALA

T H IS A G RE E M E N T m ade at _______________________th is the __________________day _

_____________________BETW EEN _____________________________________________________________

_______________________________________only) for the purpose of purchase of plot of Land and

ANNEXURE -18 (CONTD.) ANNEXURE -18 (CONTD.)

ANNEXURE -18 (CONTD.)

* Applicable for Individual Borrowers only.

Particulars of immovable properties with full address (where situated etc.)

In whose names the property stands

Whether leasehold or ownership

Present Market value (Rs. In Lacs)

ANNEXURE -18 (CONTD.) 21. The Borrower/s further declares that,

*THE COMM ON SEAL OF M/s.______________ ) ________________________________________ )

INDIVIDUAL BORROW ER/S For M /s. _______________ PROPRIETOR

PARTNERSHIP FIRM For M /s _____________________ _

2)_______________ 3)_______________ 4)_______________

LETTER/S OF CREDIT FACILITY AGREEMENT OF HYPOTHECATION (GOODS / MOVABLES)

THIS Hypothecation Agreement made at________________________ this____________ day of

* Applicable for Individual Borrowers only.

Particulars of immovable properties with full address (where situated etc.)

In whose names the property stands

Whether leasehold or ownership

Present Market value (Rs. In Lacs)

A D ETA ILS O F H Y PO TH EC A TED G O O D S :

* THE COMMON SEAL OF M/s._____________ )

For M/s. ________________________________ PROPRIETOR

M EM ORANDU M O F A GREEM EN T FO R H YPO THECATIO N O F

MEMORANDUM OF AGREEMENT made at__________________this the____________day of

pla ces at __________________________________________________________________

N O W T H E S E P R E S E N T S W IT N E S S A N D IT IS H E R E B Y anG Retw een th e p arties y A d b EED h ereto as follow s:

loan/credit facilities shall be born solely by the Borrower.

The Borrower/s understands that as a precondition, relating to grant of the loans/

Name /Age of Borrower/s/s

Name/s , age/s of legal heir/s

Relation with the Borrower/s

Occupation/ Vocation of legal heirs

* Applicable for Individual Borrowers only.

Anda mungkin juga menyukai

T H IS A G RE E M E N T m ade at _____th is the day _

_BETW EEN _________________________________________

*THE COMM ON SEAL OF M/s. ) __________________________ )

2)_______ 3)_ 4)_________

THIS Hypothecation Agreement made at____________ this day of

MEMORANDUM OF AGREEMENT made at______this theday of