order to meet the possible contention that a particular item was lodged merely
for safe custody or, at all events, was not intended to provide, security, banks
insist in every case letter from the borrower in which each separate item of
security is described in detail.
Promissory notes must not be attested but must be signed in the presence
of two members of the Bank?s representatives.
Deed of Hypothecation
THIS DEED made this……………… day of…………. Two Thousand and………………..
BETWEEN………………………. son of……………………….. having his/its/their regis-
tered office/place of business at…………. or of………… (hereinafter called ?the
Owner? which expression shall unless excluded by or repugnant to the context
include his/its/their successors and permitted assigns) of the one part
and……………… Bank, a Banking Company within the meaning of the Banking
Companies Act, 1949 and having its Registered Office at………. (hereinafter
called ?the Bank? which expression shall unless excluded by or repugnant to
the context include its successors and assigns) of the other part.
(1) The Owner owns or carries on or intends to carry on the profession/
industry/business of………………………. for which he/it/requires the use
of or has been using motor car/truck/taxi/tempo/scooter/auto-rick-
shaw/vehicles/boats/launches and or barges (hereinafter called ?the
Vehicles?) either for his/its own use in the relation to such profession/
trade and/ or for carrying on or in connection with the same and/or for
development or expansion of business or for letting out the same to
others on hire or for carriage of goods as private/public carrier(s).
(2) For the purpose/ purposes aforesaid and/ or for more fully and
effectually carrying out his/its/said profession business/industry and/
or for development or expansion thereof the Owner is desirous of
purchasing the Vehicles and/or necessary accessories equipment
including tyres/tubes or for reconditioning/repairing overhauling of the
Vehicles or the existing Vehicles and/or for meeting all expenses in
connection therewith or for the development and or expansion of the
said profession trade or business the Owner has approached the Bank
for obtaining financial accommodation (or for increasing the limit of
existing accommodation) up to a total limit of Rs………… which the Bank
has agreed to lend and/or advance to the Owner at the Bank?s sole
discretion under Cash Credit/Overdraft/Term Loan Account and/or
Ch. 34] BANKING DOCUMENTS?FORMS 5960 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
other facilities or otherwise howsoever (hereinafter called?the said
loan?) to utilise the said sums for the said purposes and also on the
Owner?s agreeing to secure repayment of the said loan with interest
and cost at hereinafter provided by creating inter alia a first charge and/
or a further charge as and by way of hypothecation of the vehicles
(hereinafter called ?the said goods?) in manner hereinafter appearing
and subject to the terms hereinafter contained.
(3) The Bank has agreed to lend such sum from time to time/at a time at
its sole discretion under a separate account(s) which will not exceed
at any time or in the aggregate Rs……….. /a sum of Rs………….. as
aforesaid on the Owner?s agreeing to utilise the said sum for the said
purpose of purchase of the said goods and/or other purposes as
mentioned above and to secure repayment of the said sum with interest
and costs as hereinafter provided by creating inter alia a first charge
as and by way of hypothecation on the said goods described in
Schedule I & II hereto complete with all fittings in favour of the Bank
in manner hereinafter appearing.
NOW THESE PRESENTS WITNESS AND IT IS HEREBY AGREED AND DE-
CLARED BY THE OWNER/OWNERS with the Bank as follows:
1. The Bank will open and maintain the said separate account (hereinafter
called ?the said account?) relating to the said loan at its Head Office/Branch Office
at…………… and shall at its sole discretion allow the Owner to draw therefrom
such sum or sums as the Bank shall in its absolute discretion decide which shall
not exceed Rs………… in aggregate subject to the provisions hereinafter
contained and subject to the Bank being satisfied that at no point of time the fair
market value in the opinion of the Bank of the said goods shall be lower than
the amount to be so advanced by the Bank to the Owner: Provided Always that
the Bank shall have an unfettered power to stop payment of such advances even
though the said total limit of Rs………… under the said account has not been
reached without assigning any reason therefor And the Bank shall likewise be
entitled to refuse to discontinue/grant any further advance or advances under
the said account to the Owner whenever the Bank shall at its absolute discretion
think fit without incurring any liability to the Owner and in the event of the Bank
so stopping or refusing to discontinue/grant any further advances at any time
hereafter the amount for the time being advanced by the Bank under the said
account to the Owner and/or the amount for the time being lying to the debit
balance of the said account as shall for the time being remain due and unpaid
by the Owner to the Bank irrespective of any provisions herein contained and
the security hereby constituted shall become immediately enforceable.
2. The Owner shall run and operate the said account and draw therefrom at
the discretion of the Bank from time to time sum/sums as the Bank shall in its
absolute discretion think fit provided the same shall not in any event exceed
Rs……… as aforesaid. The Owner will utilise such sums and every part thereof
for the purchase of the said goods.
3. The Owner shall repay on demand the said sums and every part thereofor any sum that may have been lent and advanced by the Bank to the Owner
under the said account or in connection with the said loan and/or repay the debit
balance of the said account or any part of the said loan remaining due and unpaid
with interest calculated on daily debit balance thereof or of the said account with
monthly rests in account at the rate of……………. % over and above the rate of
the Reserve Bank of India on demand loans subject to a minimum of………… %
………..p.a. in accordance with the Banks practice or at any other rate or rates
as may be advised to the Owner by the Bank from time to time or the Owner
shall repay the said sum/sums and every part thereof as may or shall be lent
and advanced by the Bank to the Owner in connection with the said loan under
the said account on or before the……………… by equal monthly………. instalments
of……………….. Rs………. each and the first of such monthly instalments shall be
paid by the Owner to the Bank on or before the………….. day of……….. 20… and
thereafter each subsequent instalment shall be paid by the Owner to the Bank
in each and every succeeding English Calendar month on or before the
expiration of the last day of each successive calendar month and the last of such
payments shall be paid on or before the……………. day of………….. 20…… And the
Owner shall in the meantime and until the said sum/sums as shall be advanced
by the Bank to the Owner in connection with the said loan under the said account
and/or the debit balance of the said account has/have not been paid in full, the
Owner shall pay to the Bank interest thereon calculated at the rate and in manner
aforesaid till the entire balance of the said loan or debit balance of the said
account or the sum/sums advanced by the Bank to the Owner as aforesaid has/
have been completely liquidated: Provided Further that if the Owner shall fail to
pay any of the said monthly instalments and or interest then the security hereby
constituted shall become immediately enforceable and the money time being
remaining due and unpaid by the Owner to the Bank shall also become
immediately due and payable to the Bank by him/them.
4. The Owner shall also pay to the Bank all law-costs and other charges
incurred or to be incurred by the Bank in connection with execution of these
presents and/or for enforcement of payment of the said sum/sums or every part
thereof and/or for enforcement of any balance sum for the time being remaining
due and unpaid of the said loan including interest by the Owner to the Bank and/
or for attempting to enforce and/or for enforcing the security hereby constituted.
5. The Owner shall pay to the Bank all the aforesaid sums including interest
and costs at its said Calcutta……………….. office or at any other office if any
advised by the Bank to the Owner from time to time.
6. For the further additional/collateral security as aforesaid as security for due
repayment by the Owner to the Bank of the said loan or the said sums with
interests and costs as hereinbefore provided and/or the existing accommodation
granted by the Bank to the Owner and or any sums that shall be found due and
payable by the Owner/to the Bank, the Owner do and each of them doth hereby
hypothecate as and by way of a first charge and/or further additional charge unto
the Bank All And Singular the said goods complete with all parts accessories
fittings and component And all rights title and interest of the Owner in respect
Ch. 34] BANKING DOCUMENTS?FORMS 6162 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
of and affecting thereof with all legal incidents To the Intent that the same shall
be held by the Bank and by way of first and/or further additional charge for
securing the due payment by the Owner to the Bank of all the said and/or any
sum that shall be lying to the debit balance of the said account and shall be found
due and payable by the Owner to the Bank in the opinion of the Bank including
all sums as thereinafter provided which shall be payable by the Owner to the
7. The Owner hereby declares and covenants with the Bank as follows:
(a) That the said goods shall at the cost of the Owner be registered and
continued to be registered with the proper Registering or other
appropriate Authorities under the Motor Vehicles Act and/or any other
laws, rules, or regulations framed thereunder or otherwise and or by
Authorities concerned which shall for the time being remain in force in
the joint names of the Owner and the Bank and the necessary
endorsement of the charge created hereunder or this hypothecation
instrument shall be made in the certificate of registration in relation to
the said goods in the register and/or other records kept at the office
of the said Authority or Authorities and the necessary expenses in this
behalf shall be borne by the Owner.
(b) The Owner shall not change the address of the garage or premises
(as disclosed to the Bank by the Owner at the date of execution of these
presents) where the said goods shall be kept nor the Owner shall
remove or cause to be removed the siad goods from the State of West
Bengal to any other State without obtaining prior written consent of the
Bank and which such consent the Bank can refuse at its aboslute
discretion without assigning any reason.
(c) The Owner shall pay all fees taxes insurance premia licence fees,
duties, registration fees and other rates and/or charges or dues now
in force or hereinafter to be in force and payable by the Owner in respect
of the hypothecated goods as and when the same shall become due.
(d) The Owner shall at its cost keep run and maintain the hypothecated
goods in good working and running order in road-worth/riverworthy
condition and for that purpose the Owner shall execute all necessary
repairs. The Owner shall renew the licnece of registration certificate in
respect of the said goods from year to year and shall whenever required
by the Bank hand over to the Bank the relative licence or registration
certificate including the Blue Book/Certificate of and relative insurance
(e) The Owner has not in any way hypothecated charged or otherwise
encumbered the said goods and the same is or will be free from all
encumbrances, charges, trusts, liens, attachments and lis pendens
whatsoever (except the charge hereby created in favour of the Bank).
The Owner shall keep the hypothecated goods free from all such
charges, encumbrances, trusts, liens and attachments, lis pendensand distress so long as the Bank?s dues in connection with the said
account and other sums payable hereunder by the Owner to the Bank
are not paid in full with interest and costs as hereinbefore provided.
(f) The Owner shall not execute nor allow to be done or executed any act
deed matter or thing which will in any way prejudice, jeopardise or
endanger the security hereby created in respect of the said goods.
(g) The Owner shall not hire let out (except in ordinary course of his
business as transport operator/contractor) transfer assign sell dispose
of or otherwise part with possession of the said goods, without
obtaining prior written consent of the Bank and the Bank shall have an
unfettered right to grant or refuse such consent without assigning any
reason and in granting such consent the Bank may impose such
conditions as it may think fit and best.
(h) The Owner shall at all times during the continuance of the security
hereby created keep and maintain a margin on the fair market value
(in the opinion of the Bank) of the hypothecated goods in such manner
as shall not in the opinion of the Bank exceed the amount for the time
being lent and advanced by the Bank and/or remaining due and unpaid
by the Owner to the Bank in connection with the said account by………….
% of the said fair market value of the said goods and if and when the
said margin shall fall for whatever reason the Owner shall forthwith pay
in cash to the Bank such amount as shall be decided by the Bank to
make up the dificiency or reduce the amount of the loan for the time
being under the siad account so as to maintain the said margin and/
or Owner shall offer such security or securities in favour of the Bank
as the Bank shall decide.
8. During the continuance of the security the Owner shall at his/its costs
insure and keep insured the said goods in an insurance company of repute to
be approved by the Bank in the full value thereof against loss or damage by fire
theft riot third party accident risks malicious damage and/or such or such other
risks as the Bank shall decide And the Owner shall duly and punctually pay the
necessary premia and other charges to keep afford the relative insurance policy
and shall whenever required by the Bank produce to the Bank the necessary
premia receipts and/or deliver to and/or assign to the Bank the said insurance
policy. And all monies to be received on the strength of such insurances policy
shall be applied in the first instance in reinstating the said goods or replacing
the same and if there is any shortfall the Owner shall make up the deficiency
and/or the Owner shall dispose of the said insurance proceeds in such manner
as the Bank shall decide Provided all accident risk shall be met by such insurance
proceeds and/or by the Owner personally in case of any shortfall.
9. If the Owner defaults in keeping the said goods insured and/or paying the
premia and/or any other sums and expenses as are payable by the Owner to
the Bank in terms of these presents it shall be lawful but not obligatory for the
Bank to pay the same and to keep the said goods insured in such manner as
the Bank shall think fit and debit the said account with all expenses and costs
Ch. 34] BANKING DOCUMENTS?FORMS 6364 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
or charges as shall be borne or paid by the Bank and the security hereby created
shall be extended to cover the said payments by the Bank and the said security
shall enure to the benefits of the Bank to secure repayment of such sums by
the Owner to the Bank.
10. The security hereby created shall be a continuing security for payment
of the ultimate balance of the said sum and/or debit balance of the said account
and/or other sums payable by the Owner to the Bank as hereinbefore provided
irrespective of any fluctuation in the said account and/or payment of any sum
or sums by the Owner to the Bank and the Owner shall utilise the said loan and
every part thereof for the aforesaid purposes and shall whenever called by the
Bank render due and faithful account of the same of the Bank.
11. The security hereby created shall become enforceable under or in any
or the following events:
(i) If the Owner shall fail to pay to the Bank any of the said monthly
instalments of Rs………. in repayment of the sum or sums to be lent/
advanced by the Bank to the Owner under the said account in
connection with the said loan or if the Owner shall fail to repay on
demand to the Bank the said loan or any part thereof in connection with
(ii) If the Owner shall fail to pay the interest and/or any instalments thereof
in the manner hereinbefore provided.
(iii) If the Owner is adjudged insolvent or dies Owner?s business shall be
dissolved or wound up.
(iv) If any receiver or distress warrant and/or attachment is levied in respect
of the Owner/owner?s business, estate and effects including the said
(v) If the Owner/shall fail to comply with any of its/his obligations or
conditions or covenants reserved hereunder and on its/his part to be
complied with; and
(vi) If and when the security hereby created becomes endangered
jeopardised or impaired in the opinion of the Bank.
12. In the event of the security becoming enforceable as herein-before
provided the money for the time being remaining due and unpaid by the Owner
to the Bank in connection with and/or under the said account shall become
immediately due and payable by the Owner to the Bank and the Bank shall be
entitled to exercise any of the following rights and powers without prejudice to
its other rights that is to say that Bank shall have an unfettered right and without
any objection on the part of the Owner and without any prior notice to the Owner
to seize take possession of the said goods and/or to demand or recover the same
from the possession of such person or persons as may be from the time being
in custody thereof and/or appoint Receiver or Receivers(who shall be the Agent
of the Owner and whose remuneration shall be paid by the Owner) with full power
and liberty to the Bank and/or such Receiver or Receivers to sell and disposeof the said goods in one or more lots at such time and times and in such manner
whether by public auction or private treaty and at such price or prices as the
Bank or the Receiver or Receivers may in its or their absolute discretion consider
expedient or think fit without being bound to exercise any of these powers and/
or being liable for any loss or deficiency in value in the exercise thereof (with
full power and liberty to the Bank and/or the Receiver or Receivers to rescind/
vary any contract for sale and/or to resell the said goods and/or to buy the said
goods for the Bank) and with full power for the Bank and/or Receiver or Receivers
to pay out of the sale proceeds in the first instance all costs of brokerage charges
and/or other expenses of and incidental to such sale/resale and/or for enforcing
or attempting to enforce security hereby created and in the next place to retain
and to appropriate the balance sum in payment of the Bank?s dues hereunder
and if there is any deficiency or shortfall the Owner shall pay the necessary sums
to the Bank and if there is any surplus then the Bank and/or the Receiver as
the case may be shall refund the surplus amount to the Owner or as it/he shall
13. The Owner shall render all facilities to the Bank and or the Receiver by
execution of such acts deeds matters or things as the Bank and/or Receiver or
Receivers shall in its or their absolute discretion or opinion think fit or proper for
more fully implementing any of the provisions herein contained and/or to enable
the Bank and/or the Receiver or Receivers to the exercise of all or any of the
aforesaid rights and/or powers.
14. The Bank and/or the Receiver or Receivers shall also be entitled to do
and execute all such acts deeds contracts sale deeds and/or other assurance
or assurances including any instrument and receipts as shall be considered
necessary by the Bank and/or the Receiver or Receivers for exercising the said
power of sale and resale and/or for more fully implementing all or any of the
powers conferred on the Bank and/or the Receiver or Receivers as hereinafter
provided AND all the accounts to be rendered by the Bank and/or the Receiver
or Receivers in this behalf shall be accepted by the Owner as correct and
conclusive and the Owner shall not be entitled to question impeach or
challenge the validity of the said sale and/or resale of the said goods and/or
appointment of Receiver or Receivers and for any loss to be sustained by the
Receiver or Receivers and/or the Bank for effecting such sale and/or resale and
the Owner shall not also raise any objection against nor the Owner shall be
entitled to question the existence or happening of circumstances necessitating
or warranting such sale and/or resale and/or appointment of Receiver or
Receivers and/or for the exercise of any of the said powers.
15. For the purpose of more fully implementing the powers hereby conferred
on the Bank and/or Receiver or Receivers as aforesaid and/or any other
provisions herein contained the Owner doth hereby irrevocably appoint the Bank
as its attorney with liberty to exercise any of such powers and to do and execute
all such acts deeds matters and proceedings either by itself and/or through any
of its principal officer or officers.
16. The Owner shall at its/his cost and whenever required by the Bank execute
Ch. 34] BANKING DOCUMENTS?FORMS 65
G : CDD (Vol. 3) ? 566 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
such further acts deeds and instruments for creating a more effectual mortgage
and/or further assurance or things as the Bank shall think fit and proper in relation
to the security created in favour of the Bank by the Owner in respect of the said
17. The Bank shall be entitled from time to time at the cost and expense of
the Owner to inspect the said goods during the continuance of the security by
its authorised person or persons and/or to have all repairs done at the cost and
expense of the Owner and for that purpose the Owner shall render all assistance
and facilities to the Bank and/or its authorised agent or agents.
18. Any time or indulgence granted by and/or any omission on the part of the
Bank whatsoever shall not in any way vitiate prejudice or affect the security
hereby created and/or rights and interests of the Bank nor the same shall be
deemed to be waiver by the Bank of any of its rights hereunder or under law.
19. Any other security guarantees promissory notes obtained by the Bank
from the Owner and/or other person or persons shall not in any way prejudice
vitiate or effect the security hereby created by the Owner in favour of the Bank
in respect of the said goods nor the same shall be deemed to be waiver by the
Bank of any of its rights hereunder or under law.
20. Any change in the constitution at the Bank and/or the Owner on the death
of the Owner or any of them will not affect the security and/or rights created in
favour of the Bank hereunder.
21. Any notice by way of request demand or otherwise may be given by the
Bank to the Owner if addressed by registered post to the Owner at his/their last
known address or place of business as shown in the Bank?s books and in
providing service of such notice it shall be sufficient to prove that an envelope
containing the notice was posted and the Bank?s certificate to that effect issued
by any of its officers shall be final and conclusive. Such notice shall be deemed
to have been received by the Owner on the date when it would be delivered in
due course of post even though returned unserved on account of refusal or other
THE SCHEDULE above referred to:
Full details of the Vehicles etc.
1. Class of Vehicle, etc.
2. Maker?s name.
3. Type of Body.
4. Year of Manufacture.
5. Number of Cylinder/other particulars.
6. Chasis Number/Certificate Number.
7. Engine Number.
8. Horse Power.
9. Full/Load Capacity.
10. Unladen Weight.IN WITNESS whereof the Owner executed these presents on the day, month
and year first above written.
SIGNED SEALED and DELIVERED by
the abovenamed Owner
in the presence of:
THE COMMON SEAL of the abovenamed
Owner was hereunto affixed by……………
who signed these presents
in the presence of:
Letter of Hypothecation-cum-Assignment of Book Debts in
respect of advances against Hire-Purchase Agreement
relating to Motor Vehicles
……………….BANK (hereinafter called ?the Bank??) having at the request
of……………….. (hereinafter called ?the Borrower?) agreed to grant accommoda-
tion to the Borrower by way of overdraft or cash credit under a maximum drawing
limit of Rs……… or such less sum as the Bank shall from time to time think fit
to be secured by the hypothecation of the Borrower?s all rights and benefit
accruing under the hire-purchase agreements between the borrower and the
hirers of motor vehicles as well as hypothecation of present and future Book
Debts and moneys receivable of the Borrower including instalments receivable
from hirers of motor vehicles under hire-purchase agreements both present and
IT IS AGREED as follows:
1. That all the borrower?s rights and benefits accruing under the hire-purchase
agreements between the borrower and hirers/purchasers of motor vehicles
under hire-purchase agreement;
AND ALSO all moneys now or at any time to become due and the full benefit
of all rights and remedies to which the borrower is or may become entitled under
or by virtue of any agreement or other instrument of hire or hire-purchase or
otherwise or any policy of insurance concerning or affecting the vehicles sold
by the borrower under hire-purchase agreements;
AND ALSO all the Borrowers? present and future Book Debts, outstandings,
moneys receivable, including instalments receivable from hirers of motor
Ch. 34] BANKING DOCUMENTS?FORMS 6768 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
vehicles under hire-purchase agreements?both present and future, bills
whether in course of collection or otherwise choses in action and claims including
in particular but without prejudice to the generality of the foregoing all sums due
or to become due hereafter to the Borrower from any customer or debtor of the
Borrower (all of which are hereinafter referred to as ?the said Book Debts??)
together with the benefit of all rights relating thereto are hereby hypothecated
to the Bank by way of a First Charge as security for the payment to the Bank
on demand of the balance at any time at debit of the said Overdraft/Cash Credit
Account and of all other moneys as any time owing to the Bank in relation to
the said Overdraft/Cash Credit Account whether under or by virtue of these
presents or otherwise all of which other moneys may be debited by the Bank
to the said Overdraft/Cash Credit Account and also for the payment and
discharge of all other present and future indebtedness and liabilities of the
Borrower to the Bank of any kind and in any manner and in respect of any account
at any office of the Bank and whether in India or elsewhere or whether solely
or jointly with others primary or collateral, accrued or accruing and whether as
principal or as surety together with all interest discount commission costs (as
between attorney and client) charges and expenses payable to or incurred by
the Bank in relation to the said Overdraft/Cash Credit Account or to any other
indebtedness or liabilities.
2. Subject to the terms of the proviso to this clause interest at the rate of……….
per cent per annum above the Reserve Bank of India rate for demand loans
obtaining from time to time with a minimum rate of……………. per cent per annum
shall be calculated on the daily debit balance of the said Overdraft/Cash Credit
Account and charged on the last working day of each calendar month or
otherwise in accordance with the practice of the Bank and although the relation
of the Banker and Customer may have ceased and the said daily debit balance
and all other moneys payable to the Bank hereunder shall carry interest at the
Provided, however, that the Bank shall at any time and from time to time be
entitled to give notice to the Borrower of its intention to charge and may thereafter
charge interest at such higher rate as the Bank may specify.
3. The Borrower will apply all advances made by the bank to the ordinary
purposes of the Borrower?s hire-purchase business and will forthwith pay to the
credit of the said Overdraft/Cash Credit.Account all moneys realised in the
course of such business.
4. The Bank shall be under no obligation to make or continue advances or
accommodation to the Borrower otherwise than at the Bank?s discretion and in
no circumstances to an amount at any one time exceeding the sum of Rs………….
or the equivalent of……………. per cent of the aggregate amount of Book Debts
as from time to time existing in the shape of instalments receivable from hire-
purchasers of motor vehicles as accepted/to be accepted by the Bank whichever
sum may be less and the Bank may at any time close the said Overdraft/Cash
Credit Account and the Borrower shall on demands made by the Bank in writingpay to the Bank at……… any balance thereby shown to be payable to the Bank
in relation to the said Overdraft/Cash Credit Account and all other moneys
payable to the Bank in relation to the said Overdraft/Cash Credit Account
together with the interest payable upon such balance and other moneys up to
the date of payment thereof. And on demand as aforesaid the Borrower shall
also pay and/or discharge at such place or places as the Bank shall direct all
other indebtedness and liabilities of the Borrower to the Bank secured or
intended to be secured hereunder.
5. The aggregate value of Book Debts in the shape of instalments receivable
from hire-purchasers of motor vehicles accepted/to be accepted by the Bank
shall at all times be sufficient to provide a margin on security amounting to………
per cent over and above the balance for the time being at debit of the said
Overdraft/ Cash Credit Account (including interest payable thereon but not yet
debited to the Account). If at any time such margin shall be less than…….. percent
the Borrower shall forthwith provide the Bank with additional security approved
by the Bank sufficient to restore such margin or pay the Bank such sum as will
reduce the balance at debit of the said Overdraft/Cash Credit Account to the
extent necessary to restore the said margin. For the purposes of this clause in
ascertaining the value of the Book Debts as aforesaid or the sufficiency of such
value or the sufficiency of any additional security aforesaid the Bank shall be
the sole judge of such value or sufficiency.
6. As soon as instalments are received from the hirers, the Borrower shall
pass on the amounts to the Bank and also shall handover to the Bank the
proceeds of any vehicle resold in the event of the hire-purchaser?s failure to
discharge his obligation.
7. (a) The Bank by its Managers and nominees shall be entitled at all times
as if absolute owner and without notice or demand to the Borrower but at the
Borrower?s risk and expense and if necessary or expedient in the name of the
Borrower to exercise (without being bound to do so) all or any of the following
On any default by the Borrower in payment of any money hereby secured
or the performance of any obligation to the Bank under these presents or under
the separate letter of hypothecation executed/to be executed in respect of
individual vehicles or in the event of the existence of any circumstances which
in the opinion of the Bank might endanger this security to take possession or
remove recover receive appoint receivers of and/or sell by public auction or
private contract or otherwise dispose of or deal in any manner with all or any
part of the said Book Debts and give notices to and make demands on debtors
and other parties liable and enforce realise settle compromise submit to
arbitration and deal in any manner with any rights claims or disputes relating
to the said Book Debts. Provided however that I before sale of the said Book
Debts forty-eight hours? notice shall be given to the Borrower and such notice
is agreed to be reasonable notice for such purpose.
(b) All expenses incurred by the Bank in exercising the aforesaid powers shall
Ch. 34] BANKING DOCUMENTS?FORMS 6970 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
be payable by the Borrower and may be debited by the Bank to the said Overdraft/
Cash Credit Account.
(c) The Borrower agrees to accept the Bank?s accounts of sales and
realisations as sufficient proof of any amount realised and relative expenses and
other matters stated therein and to pay on demand any shortfall or deficiency
due to the Bank.
(d) The Borrower agrees to execute on demand by the Bank such further
documents as may be required by the Bank to vest the said debts or any of them
in the Bank or to render the same readily realisable or transferable by the Bank
at any time.
8. The Borrower will furnish on demand to the Bank all accounts, reports,
returns, certificates and information and also allow the Bank and its Officers to
hold inspection of the books of account and other documents relating thereto
and will execute all documents and do all things which and in such manner as
the Bank may require to give full effect to these presents.
9. Subject to the restrictions herein contained and the rights powers and
remedies of the Bank under these presents the Borrower shall be at liberty to
deal with the said Book Debts in the usual course of business so long as the
margin of security aforesaid is fully maintained and on the condition that the said
Book Debts shall at all times be kept distinguishable and held as property
specifically appropriated to this security to be dealt with only in accordance with
the Borrower?s obligations to the Bank and on the further condition that all
proceeds of the said Book Debts shall immediately on receipt be paid into the
said Overdraft/Cash Credit Account.
10. Notwithstanding anything herein contained the Borrower shall not without
the Bank?s consent create or suffer any mortgage charge lien or encumbrance
to affect the said Book Debts or any part thereof nor do or allow anything that
may prejudice this security.
11. The Bank shall be entitled at all times to apply any other moneys in its
hands standing to the credit of or belonging to the Borrower in or towards
payment of any amount for the time being payable to the Bank in the said
Overdraft/Cash Credit Account or otherwise and to recover at any time from the
Borrower by suit or otherwise the balance remaining payable to the Bank on the
said Overdraft/Cash Credit Account or otherwise notwithstanding that all or any
part of the security held by the Bank may not have been realised.
12. The Bank shall not be bound to exercise any of the powers hereby or
otherwise vested in the Bank or be liable for any loss in the exercise thereof and
the same may be exercised without prejudice to the Bank?s rights and remedies
of suit otherwise and notwithstanding that there may be any pending suit or other
13. The Borrower hereby constitutes the Bank and each of its Managers and
Acting Managers of its Branch Offices in India and any person or persons
nominated by any such Manager or acting Manager to be jointly and severallythe Attorney and Attorneys for and in name of the Borrower or otherwise to do
whatever the Borrower may be required to do under or by virtue of this
14. This Agreement and the security herein referred to shall operate as a
continuing security for all moneys indebtedness and liabilities aforesaid notwith-
standing the existence of a credit balance in the said Overdraft/Cash Credit
Account or on any other account at any time or any partial payments or
fluctuations of account.
15. The Borrower declares that all the said Book Debts now existing and the
vehicles sold under hire-purchase agreements are the absolute property of and
at the sole disposal of the Borrower and free from any prior charge or
encumbrance except in favour of the Bank, if any, and undertakes that all future
property hereunder shall likewise be the unencumbered and disposable prop-
erty of the Borrower.
16. Nothing herein contained shall prejudice the Bank?s rights or remedies
in respect of any existing or future security guarantee obligation or decree for
any existing or future indebtedness or liability of the Borrower to the Bank and
these presents shall not operate to merge or extinguish any security created by
the Borrower in favour of the Bank.
17. If the Borrower be more than one individual all shall be bound by these
presents jointly and severally and if a Partnership Firm such Firm and all
members from time to time thereof shall be bound by these presents jointly and
severally notwithstanding any changes in the constitution or style thereof and
whether such firm consists of or be reduced to one individual at any time. If the
borrower is a limited liability company, their assigns shall be equally bound by
18. Any notice by way of request or demand or otherwise to be given
hereunder by the Bank to the Borrower shall be deemed to have been duly given
or made if addressed to it and delivered at or sent by registered post to the
registered office of the Borrower or at or to the last known address of the
Borrower. If the Borrower is a partnership firm such notice shall also be deemed
to be duly given by the Bank to the Borrower if the same is addressed to the
Borrower care of any of the individual partners thereof and is delivered at or sent
by registered post to the last known address of such individual partner. Any of
the aforesaid notices (under this clause) when sent by post shall be deemed
to have been given when it would be delivered in due course of post 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 given by the local Manager
of the Bank that the envelope was so posted shall be conclusive.
IN WITNESS WHEREOF these presents have been duly executed by the
Borrower at……………. this…………….. day of……………. Two Thousand
Ch. 34] BANKING DOCUMENTS?FORMS 7172 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
Letter of Hypothecation in respect of VehicIe for advances
against Hire-Purchase Agreements
In consideration of your agreeing to grant to us accommodation in overdraft,
loan, cash credit or other account or manner, we…………………….. carrying on
business at………………. under the name or style of………………………. hereby
charge and hypothecate in your favour the property and rights specified in the
Schedule hereto by way of first charge as security (and as continuing security
notwithstanding any partial payments or fluctuations of account) for the payment
to you on demand of the balance of any such account as aforesaid and otherwise
for the payment and discharge of all our present and future indebtedness and
liability to you of any kind whether matured or accruing absolute or contingent
and whether incurred alone or jointly with others and whether as principal or
surety including all interest, discount, commission, expenses, charges and costs
(as between attorney and client) incurred by you in relation to any such
indebtedness or liability.
The Schedule above referred to:
Particulars of Vehicles:
Registration Mark???????…………. Engine No…………………………………
Make……………………………………………….. Chassis No …………………………………
Type of Body………………………………………………………………………………………….
Year of Manufacture……………………………………………………………………………………..
AND ALSO all moneys now or at any time hereafter to become due and the
full benefit of all rights and remedies to which we are or may become entitled
under or by virtue of any agreement or other instrument of hire or hire-purchase
or otherwise or any policy of insurance concerning or affecting the said vehicle.
Signed by the aforesaid……………………………………….. at………….. dated this
…………….. day of……………………. 20 ……
Notice of Assignment of Financier?s rights under Hire-
Purchase Agreement to be sent to Regional
This is to advise you that Shri/Messrs……………………….of………………….has/have assigned/hypothecated to the Bank, for valuable considerations, all their
rights and benefits accruing under the hire-purchase agreement dated………..
executed in their favour by Shri/Messrs……………………………….
of………………………… in respect of motor vehicle/s as per particulars in the
schedule hereunder. Please note that any request for transfer of ownership of
the vehicle shall not be effective without the consent of the Bank first had and
obtained in writing.
SCHEDULE ABOVE REFERRED TO:
Notice of Assignment of Financier?s rights under Hire-
purchase Agreement to be sent to Hire-Purchasers,
This is to advise you that Sri/Messers……………………….. of…………………….
has/have assigned/hypothecated to the Bank, for valuable considerations, all
his/their rights and benefits accruing under the hire-purchase agreement
dated………. executed by you/Shri…………………………../Messers……………………….
liabilities under which have been guaranteed by you, in respect of-motor vehicle/
s as per particulars in the schedule hereunder.
Description and model of vehicle????? year of manufacture……………
Name of manufacturers………………………….
Engine Number ……………………………………
Ch. 34] BANKING DOCUMENTS?FORMS 7374 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
Hypothecation of Debts and Assets
The………………………… Bank……………………………. (herein called ?The Bank?)
having at the request of…………………………………. (herein called ?the Borrower??)
agreed to grant accommodation and facilities to the Borrower by the way of
overdraft loan Cash Credit Account or otherwise under a drawing limit of Rupees
…………………. on the Security hereof it is agreed as follows:
1. That the Borrower?s book debts outstandings moneys receivable claims
and bills and other assets as are set out in the Schedule hereunder are hereby,
and all present and future book debts outstandings moneys receivable claims
and bills, and other assets the documents relating to which shall be handed to
or come into the possession of the Bank, shall be hypothecated and charged
to the Bank and its assigns by the way of first charge Security for?
(a) The payment to the Bank on demand of all moneys which now are, or
which at any time or times hereafter may become due and owing form
the Borrower to the Bank, whether alone or in partnership with any
person, firm or company by way of overdraft in current account or by
way of lone or by way of cash credit with the Bank (including moneys
owing upon any cheques, promissory notes or bills of exchange drawn,
accepted or endorsed by the borrower or which shall have been paid
for credit or the borrower either solely or jointly with another or others).
(b) Interest on the moneys aforesaid from the respective dates from which
the same shall be chargeable.
(c) All costs (as between Attorney and Client) charges and expenses, if
any, which the Bank may be entitled to add to its security.
(d) And for the payment and discharge of all the Borrower?s present and
future indebtedness and liabilities to the Bank of any kind in any manner
whether solely or jointly primary or collateral accrued or accruing with
all relative interest, charges, costs (as between attorney and client) and
expenses payable to or incurred by the Bank in relation thereto.
2. That interest at the rate of…………………. per cent per annum………………
the Reserve Bank of India………………………. Rate from time to time………………
shall be calculated on the daily balance of accounts and charged in accordance
with the practice of the Bank with monthly rests.
3. That on any default of the Borrower in payment of any money hereby
secured or the performance of any obligation to the Bank under this or any other
security or the occurrence of any circumstances in the opinion of the Bank
endangering this or any other security the Bank shall be entitled at the Borrower?s
risk and expense as Attorney for and in the name of the Borrowers or otherwise
to take possession and/or appoint receiver of any debts or assets under this
security give notices and demands to the Borrower and third parties liable
therefor sue for recover receive and give receipts for the same and sell or realiseby public auction or private contract or otherwise dispose of all or any part or
such debts or assets and enforce settle compromise submit to arbitration or deal
in any manner with any debts or claims under this security without being bound
to exercise any of these powers or liable for any loss in the exercise thereof the
Borrower undertaking to transfer and deliver to the Bank all relative documents
and papers and agreeing to accept the Bank?s accounts of receipt from
realisations under this security and to pay shortfall or deficiency thereby shown.
Provided also that subject to these powers of the Bank, the Borrower may with
the approval of the Bank deal with the said debts and assets in due course of
business on the express understanding that the same and all proceeds thereof
and documents therefor are always kept distinguishable and held as the Bank?s
exclusive property specifically appropriated to this security to be dealt with only
under the direction of the Bank.
4. That nothing herein shall prejudice the Bank?s rights or remedies in respect
of any present or future security guarantee obligation or decree for any
indebtedness or liability of the Borrower to the Bank.
5. All account sales rendered to the Borrower by the Bank shall be conclusive
evidence both in and out of court of matters therein stated.
6. The Borrower agrees to execute on demand by the Bank such further
documents as may be required by the Bank to vest the said securities or any
of them in the Bank and to render the same readily realisable or transferable
by the Bank at any time.
7. The Borrower also agrees that notwithstanding anything hereinbefore
contained the Bank shall not be bound to allow or to continue the Borrower?s
overdraft or current or loan or cash credit account or to grant to the Borrower
any financial or other facilities or accommodation to any extent or for any time
further than the Bank shall in its absolute discretion see fit to do but in no
circumstances to an amount at any time exceeding with interest thereon the sum
8. The Borrower hereby declares that the securities shall always be the
Borrower?s absolute property at the Borrower?s sole disposal and free from any
prior charge or encumbrance and that all future debts and assets hereunder shall
be likewise the unencumbered absolute and disposable property of the Borrower
and declares that nothing herein shall operate to prejudice the Bank?s rights or
remedies in respect of any present or future security guarantee obligation or
decree for any indebtedness or liability of the Borrower to the Bank.
9. The Security hereby constituted is to operate as a continuing security for
all sums due or owing to the Bank at any time and in the event of the Borrower?s
current account loan or cash credit or any other account with the Bank running
to a credit balance at any time the Bank?s security hereunder shall still continue
and the Borrower shall still be liable for all sums due or contingently due on any
10. That if the Borrower be more than one individual all shall be bound hereby
jointly and severally and if the Borrower shall be a Firm such Firm and all
Ch. 34] BANKING DOCUMENTS?FORMS 7576 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
members from time to time thereof shall be bound thereby notwithstanding any
changes in the constitution or style thereof and whether the Firm shall consist
of or be reduced to one individual:
11. That if and whenever this security shall be held by the Bank for the
Borrower?s liability for any third party?s obligations to the Bank, the Bank shall
be free without reference to the Borrower to deal with the principal debtor and
any securities obligations or decrees and generally to act as if the Borrower were
primarily liable and the Borrower hereby waives all suretyship rights in relation
12. Any notice by way of request demand or otherwise hereunder may be
given by the Bank to the Borrower or any of the individuals constituting the
Borrower personally or may be left at the last known place of business or
residence in India of the Borrower or any of such individuals or may be sent by
post to the Borrower or any of such individuals addressed as aforesaid and if
sent by post it shall be deemed to have been given at the time when it would
be delivered in due course of post 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 an official of the Bank that the envelope was so posted
Dated at………………….. the……………………… 20……..
Pledge of goods with Bank against Bills of Lading to
secure advances obtained
In consideration of your advancing to us the sum of Rs………… or otherwise
making or continuing advances or giving us credit or banking facilities we have
this……………………. day of………………….. pledged to you the goods represented
by the documents today delivered to you and mentioned in the Schedule hereto
the validity of which documents we guarantee. It is understood and agreed that
the terms upon which the said advance(s) credit and facilities have been or will
be made or given are as follows:
1. The goods and the proceeds of all insurances thereon and all sales thereof
and all our rights as unpaid sellers thereof shall be a continuing security for therepayment to you on demand of all monies and liabilities now or hereafter due
from us to you upon any account or in any manner whatever.
2. The goods are readily saleable and worth at today?s spot prices the amount
stated in the schedule. They are free from any lien in your hands except for any
unpaid freight landing charges and warehouse rent deducted in the schedule.
3. The goods are insured as stated in the schedule and shall be kept insured
against such risks and in such amounts as you may from time to time require.
4. If the current market value of the goods shall at any time be less than……
per cent in excess of the said advance or the amount thereof for the time being
outstanding we will without notice from you forthwith provide you with sufficient
cash or additional security to your satisfaction to restore that margin of value
and in the event of our failing to do so or failing to maintain any insurance in
accordance with your requirements or failing to pay or provide for the payment
of any money or liabilities due to you from us we hereby authorise and empower
you to sell the goods or any part thereof or any additional security without notice
5. All the terms hereof shall apply to any such additional security as though
it had been originally included herein.
6. Bills of lading may be accepted in full sets or as presented and your right
to repayment shall not be prejudiced or affected by any invalidity insufficiency
irregularity or misdescription of or in the documents or goods or any insurance
[Signature of pledgors]
Trust Certificate issued by Bank authorising the pledgor of
goods under Bills of Lading to take delivery of the goods
pledged or deal with the same, as trustee for the Bank
with the undertaking to pay off the debts
We hand you herewith the under-mentioned bills of lading covering the
undermentioned goods (now in pledge to us as security for advances) on the
following terms and conditions:
1. You undertake to hold the bills of lading and the said goods when received
(and the proceeds thereof when sold) as trustees for……………………….. Bank.
2. As you require the said bills of lading in order to obtain delivery of those
goods you undertake to warehouse the goods in the name of………………… Bank
Ch. 34] BANKING DOCUMENTS?FORMS 7778 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
and to hand us the warants forthwith; also to insure the goods against fire to their
full insurance value and to hold the policies on your behalf and in case of loss
to pay the insurance money to us in the same manner as proceeds of sale.
[Or, as you require the said goods in order to deliver the goods to the buyers
you undertake to pay us the proceeds of sale without deduction of any expenses
and immediately upon the receipt whereof or of each portion thereof as the case
may be within…………. days from the date hereof and to give us on request full
authority to receive from any person or persons the purchase money of the goods
or any of them and in the meantime to hold the goods in trust for us.]
3. You undertake also to keep this transaction separate from all other
4. We authorise you to take delivery of the goods on our behalf and to act
as trustees in the custody and realisation of the same and we request you to
pay the proceeds of alI saes to us immediately and specifically as received by
you and to act on the above terms.
Agreement to pay time barred debt not amounting
THIS AGREEMENT made this……………………. day of………………. 20….. Be-
tween…………………… Bank (hereinafter called ?the Bank?) (which term shall
include their heirs, executors, administrators and assigns) of the One Part and
M/s…………………………………………… (hereinafter called ?the Borrowers? which
term shall include their heirs, executors, administrators and assigns) of the Other
WHEREAS the Borrowers were enjoying banking facilities by way of………….
and a sum of Rs………….. (Rupees………………………..) is due and payable by the
Borrowers as on………………
And Whereas, the said balance of Rs…………… (Rupees……………………) has
become time barred under the Limitation Act, 1963 and the Borrowers cannot
give a fresh period of limitation in favour of the Bank in respect of the said debts
but, the Borrowers are willing and have agreed to pay the same upon the Bank
agreeing to grant fresh advance to the Borrowers at their request.
NOW, THEREFORE THIS AGREEMENT WITNESSETH as follows:
1. In consideration of the…………………… Bank agreeing to grant fresh
advance by way of……………….. up to the sum of Rs…………….. to the Borrowers,
the Borrowers do hereby agree and promise to pay to the said Bank on demand
made at any time hereinafter the sum of Rs……………. which the Borrowers do
hereby confirm as correctly due and payable to the Bank by the Borrowers asthe liability outstanding in the account of the Borrowers subsisting with the Bank
2. That the Borrowers also agree to pay interest on the said amount of Rs……..
at the rate of………………. % per annum over RBI rate with…………….. rests till
repayment in full.
3. That the Borrowers do hereby further agree to execute all the necessary
documents in respect of the fresh amount of advance agreed to be granted by
the Bank in favour of the Borrowers.
4. That the Borrowers hereby agree and confirm that the collateral securities
as furnished herewith and described in the schedule hereunder shall remain
hypothecated/pledged for the repayment of the said amount of loan with interest,
costs and other charges to the Bank.
SCHEDULE ABOVE REFERRED TO:
(Particulars of securities hypothecated/pledged)
In Witness Whereof, etc.
* An acknowledge of a time barred debt cannot give fresh period of limitation and it does
not operate as a new contract. A time barred debt can be revised only by new contract
under section 25(3) of the Contract Act.
The distinction between an acknowledgment under section 18 of the Limitation Act, 1963
and a promise agreeing to pay time barred debt is of great importance?Ram Mangal
v Achhaibar Prasad AIR 1954 Pat 575.
While an acknowledgment under the Limitation Act is required before the expiration of
the period of limitation, a promise under section 25 of the Contract Act to pay the debt
may be after the limitation debt. Although both have the effect or creating a fresh starting
of limitation, after the period of limitation expired only an expressed terms in writing to
pay a time barred debt will provide a fresh period of limitation?Bhagabati Charan
Mohanty v Rao & Sons 1971 Cut 1268; Ethirajulu Naidu v Chinnikrishnan Chettiar AIR
1975 Mad 833; Nur Hossein v Tamijuddin AIR 1941 Cal 449; Debi Prasad v Bhagwabati
Prasad AIR 1943 Assam 63.
Agreement-cum-Ietter of hypothecation/pledge to be
obtained for packing credit advances
In consideration of your agreeing to make packing credit advances to us from
time by way of Demand Loan, the balance of which is not at any time to exceed
Rs……………. (Rupees…………………………….) we hereby agree as follows:
Ch. 34] BANKING DOCUMENTS?FORMS 7980 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
1. All such advances taken by us from you in the said Demand Loan Account
shall be applied by us solely in the purchase, production, procurement,
preparation or processing of goods, specified in the Schedule hereunder written,
for eventual shipment to our overseas buyers.
2. The said goods shall not, when purchased, produced, procured, prepared
or processed be subject or be allowed to be subject to any charge or lien or
encumbrance in favour of other bank, firm, company or any person or persons
and so long as there shall be any balance due to the bank in the said account,
we will not obtain any advance from any other bank, firm, company or other
person or persons on the said goods, or any other goods in our godown, or do
or permit to be done any act whereby the security of the Bank or over the said
goods may be prejudicially affected.
3. We do hereby pledge/hypothecate to you by way of first charge the said
goods to be purchased, produced, procured, prepared or processed out of the
advances from time to time made by you, lying and being during the continuance
of this security either at our godown at…………. or elsewhere. The goods so
pledged/hypothecated shall be a continuing security to you for payment on
demand of all other moneys which are now or shall at any time be due to you
from us either alone or jointly with any other person or persons either on account
current or for money advanced or paid or in respect of bills, drafts or notes
accepted, paid, or dishonoured, interest, commission or any other lawful charges
or any other account whatsoever together with all costs and expenses.
4. That until such advances have been repaid to you either by proceeds of
Bills of Exchange sold to you, or in cash, all such goods shall be kept apart by
us from and not intermingled with all other goods in our godowns and shall be
held by us as Agents for you.
5. We will, when required, give you full particulars of the said goods held by
us on your behalf and we hereby undertake and guarantee that the value of the
goods so held by us on your account shall at all times be at least……… per cent
above the balance due to you by us in the said account.
6. We undertake to keep the goods in good condition and have the same
fully insured against fire and other risks as you may require, to their full insurable
value, until such time as the goods shall be covered by marine policies and to
hand over to you all insurance documents, duly assigned in your favour, to ensure
receipt by you of all moneys recoverable under the said insurance.
7. When called upon to do so, we hereby undertake to deliver to you at any
time the said goods to enable you to sell or at your discretion to ship the same
for the purpose of realisation under your directions.
8. Immediately upon the shipment of the said goods or any part thereof we
undertake to hand over to you the shipping documents.
9. Nothing herein contained shall operate to prejudice your rights or remedies
in respect of any present or future security guarantee, obligation or decree forany of our indebtedness or liabilities to you and these presents shall not operate
to merge or extinguish any security created by us in your favour.
10. Any indulgence whatsoever that may from time to time or at any time or
times be given to us by you shall not prejudice your rights in any way or be
deemed to be a waiver by you of any of your rights whatsoever.
11. We further agree and undertake that we shall at all times hereafter at our
costs execute and do all such further assurance and things for the further and
better assuring of the charged goods as may be lawfully required by you.
12. Any notice by way of request demand or otherwise hereinunder may be
given by you to us by being left at or sent by post addressed to the last known
address recorded with you and if sent by post it shall be deemed to have been
given at the time when it would be delivered in due course of post 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 you or any of your
Officers that the envelope was so posted shall be conclusive.
SCHEDULE ABOVE REFERRED TO:
Application for Accommodation
(To be submitted in duplicate)
The Branch Manager,
I/We beg to apply for a Loan/Cash Credit/Overdraft accommodation against
securities and under terms and conditions as mentioned below. I/We also furnish
herewith the following particulars about myself/ourselves to enable you to arrive
at your decision.
1. Applicant?s Name (in full) :
3. Constitution of the applicant:
*Name of partners or Director
(If a limited company) as the
case may be. Give particulars
Ch. 34] BANKING DOCUMENTS?FORMS 81
G : CDD (Vol. 3) ? 682 CONVEYANCING, DRAFTING & DEEDS [Ch. 34
of Head Office and Branches,
(In case of a Limited Company,
the copies of Balance Sheet of
the preceding three year
order to meet the possible contention that a particular item was lodged merely