FILE 7-Annexure 16, 18, 19 and 21

8/4/2019 FILE 7-Annexure 16, 18, 19 and 21

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ANNEXURE-16

AGREEMENT OF HYPOTHECATION(GOODS, BOOK DEBTS AND OTHER MOVABLE 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) If an individual, shall include his or her heirs, executors, administrators and assigns.

e) 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 t h e i r r e s p e c t i v e h e i rs , e x e c u t o r s , a d m in i s t r 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 i o u s c r e d it f a c il it i e s to t h e B o r r o w e r / s t

f in 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 i t u a t e d a t__________________________in

t h e s t a t e o f ____________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 rm l o a n s , p r e - s h ip m e n tp o s t -s h i p m e n t c r e d it s , o p e n i n g o f l e t te r s o f c r e d i t, i s s u in g o f g u a r a n te e s i n c lu d i

p a y m e n t g u a r a n t e e s a n d i n d e m n i t i e s , n e g o t i a t i o n a n d d i s c o u n t i n g o f b i l l s a n d c h e q

a s w e l l a s f o re i g n , a n d s u c h o t h e r f a c il it ie s a s m a y b e a g r e e d u p o n f r o m t im e t o t im

t h e Ba n k a n d t h e B o r r o w e r / s f o r s u m s u p t o t h e l im i ts o r s u b - l im i t s a s f ix e d b y t h e B a n

t o t i m e i n r e s p e ct o f t h e a f or e sa i d c r e d it f a ci li ti es a n d i n n o c ir cu m s t a nc e s a n

e x c e e d i n g a t a n y o n e t im e i n t h e a g g r e g a t e w i t h i n te r e s t t h e re o n a n d c o s t s t h

Rs____________________(Rupees___________________________________o n l y ) a s

m e n t i o n e d i n t h e S c h e d u l e"A "h e r e u n d e r w r i tt 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 li t ie

A N D W H E R E A S o n e o f t he c o nd it io n s s t ip u la te d b y t he B a n k i s t ha t t h e B o rr ow

in t e r a lia a s s e cu ri ty fo r d u e p a ym e n t o f th e s a id c re d it f ac il i t ie s a n d i nte re s t,

c o m m i s s i o n ,charges and cos ts and exp enses pa yab le to o r incur red by the B ank in re la t io

a ) hypo theca teb y w a y o f f i r s t c h a r g e a l l t h e B o r r o w e r / s g o o d s i n c l u d i n g P a t e n t / T r a d

G o o d w i ll / B r a n d o r a n y o t h e r I n t e l l e c tu a l P r o p e r t y r i g h t a n d / o r b o o k - d e b t s a n d / o r m o

o t h e r assets. B) Pe rsonal Guarantee of --------------------------------------------------------------------------------

c ) Equ itab le M ortg ag e b y d ep osit of o rig in al title d ee ds in re sp ec t of im m ov ab

being-----------------------------------------------------------------------------------------------------------------------------------

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A N D W H E R E A S t h e B a n k h a s r e q u e s te d t h e B o r ro w e r /s t o e x e c u t e t h e se p r e s e n t s

B o r r o w e r / s h a s a g r e e d t o d o i n th e m a n n e r h e r e i n a f t e r e x p r e s s e d .

NOW THEREFORE THESE PRESENTS WITNESSETH THAT:

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 (i nc lu d in g P a t e nt /T r ad e M a r k /

G o o d w i ll /B r a n d o r a n y o t he r I n te l l ec t ua l P r o p e rt y r ig h t)movable properties and assets of the

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.

5. 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.

6. 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.

7. 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

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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 documentsdrawn 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 perterms 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 non-

compliance of the terms and conditions of these presents or the terms of sanction of the

credit facili ties 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 agreedto 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 theextent 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 themargin(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 placesapproved 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 anddata 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 datarelating to any loan facilities availed of/to be availed by the Borrower/s and (c) default, ifany, committed by Borrower/s in discharge of Borrower/s such obligation, as Bank maydeem 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 trueand correct; and

iii) The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. andany other agency so authorised my use, process the said information and datadisclosed by the Bank in the manner as deemed fit by them and (b) the CreditInformation Bureau (India) Ltd. and any other agency so authorised may furnish for

consideration, the processed information and data or products thereof prepared bythem, to Banks/financial institutions and other credit grantors or registered users, asmay 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 orotherwise the whole or part of the credit facilities and outstanding amount under the sameor any other rights under this agreement or any other documents to any other person in amanner or under such terms and conditions as the Bank may decide under sole discretion.

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That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaidto accept such person to whom the credit facility is sold or transferred as his lender andmake 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 thesecurities belonging to him/them (which may now be in Banks possession or whichmay at any time hereafter come into Banks possession) and the proceeds thereofrespectively not only for the specific credit limits made thereon but also as collateralsecurity or for any other moneys now due or which may at any time be due fromhim/them to the Bank whether singly or jointly with another or others. Further in additionto 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 orany of his/their accounts with and liabilities to the Bank and set-off or transfer any sumor sums standing to the credit of any one or more of such accounts in or towardssatisfaction of any of his/their liabilities to the Bank on any other account or in any otherrespect, 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 beheld 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 thefollowing is the exhaustive list of his /their legal heirs with full address/es, and the saidlist is furnished to enable the Bank to take steps for recovery of the dues under variouscredit facilities from any one/some/all of them in the event of his/their demise, or of anyone or some or all of us during the currency/ pendency of credit facilities extended bythe bank to him/them.

Name /Age of

Borrower/s/s

Name/s , age/s

of legal heir/s

Relation

with theBorrower/s

Address Occupation/

Vocation of legalheirs

* Applicable for Individual Borrowers only.

26. The BORROWER/S further agree, undertake and assure that he/they shallpromptly 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 becaused by any amendment/change in his/their personal Law/s and/or account of anyamendment/change in the general statutes/laws of the country.

27. The BORROWER/S also give hereunder particulars of immovable properties belongingto 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 Particulars of In whose Present Whether Present

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No. immovableproperties with fulladdress (wheresituated etc.)

names thepropertystands

encumbrances leaseholdorownership

Marketvalue(Rs. InLacs)

28. The Borrower/s further declare that,

o where the borrower is an individual, that he/she is not a director or specified near

relation of directors of a banking company.o 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 ando 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.

ORDetails of court cases pending against me / us / any Partner/ Director / Firms/ Companyare as under:-

SuitNo.

Date Amount (in lacs)

Particular of the case Remark / Present Status

30 . THAT the Borrower/s hereby agree as pre-condition of the loan/advances (fundbased and non-fund based) availed by them from the Bank that in case ofdefault by them in the repayment of the loan/advance or in the repayment ofinterest 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 discloseor publish his/their name/s or the name/s of their company/ firm/ unit and itsdirectors/ partners/ proprietors as defaulter in such manner and though suchmedium as the Bank or the Reserve Bank of India in their absolute discretionmay think fit.

134


14/51


SCHEDULE"A"REFERRED HEREIN ABOVE

SR .N O N A TU RE O F CR ED ITFACILITIES

SA N CTIO N EDLIMITS

M A R G IN IN T ER EST R A TECO MMISSIO N

SCHEDULE B

REPAYMENT OF TERM LOAN

1. Rs. __________________ on ___________ 2. Rs. __________________ on ___________

3. Rs. __________________ on ___________ 4. Rs. __________________ on ___________

5. Rs. __________________ on ___________ 6. Rs. __________________ on ___________

7. Rs. __________________ on ___________ 8. Rs. __________________ on ___________

9. Rs. __________________ on ___________ 10. Rs. __________________ on ___________

11. Rs. __________________ on ___________ 12. 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 OFM/s.______________________________)Limited was pursuant to )the Resolution of i ts 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.

FO R . . . . .. . . . .. . . . . .. . . . . .

( . )* Retain whichever is applicable

* * Seal be affixed as provided in the Articles Proprietor/Partners/Director

of Association of the Company. LD-16

135


15/51

ANNEXURE-18

LOAN AGR EEMENT FOR LAND AM D BUILDING/INDUSTRIAL G

T H I S A G R E E M E N T m a d e at_______________________this the___________________day

of__________________________in the Christian Year_____________________________________

_____________________BETWEEN

_____________________________________________________________

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 ot he r pl ac es 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/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) IfAPartnership firm, shall include wherever the context permits or so admits the survivor or


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) If an Individual, shall include his/her heirs, executors, administrators and assigns,

e) 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


Term loan to the maximum extent of Rs______________(Rupees_____________________________


16/51

_______________________________________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.______________si tuated 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 I S A G R E E M E N T W IT N E S SE T H A N D IT I S A G R E E D B Y A N D

T H E P A R T I E 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 theBorrower/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.


17/51


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 includingthe 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 including the moratorium

period for ______________months/ years as per schedule given hereunder plus interest and

interest tax as applicable thereon;

SCHEDULE OF REPAYMENT :

Amount Instalment Due

1. Rs. On or before

2. Rs. On or before

3. Rs. On or before

4. Rs. On or before

5. Rs. On or before

6. Rs. On or before

7. Rs. On or before

8. Rs. On or before

9. Rs. On or before

10. Rs. On or before







18/51

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 thereonas 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.

b) The Borrower is aware and confirms that the Bank shall at any time and fromtime to time be entitled to review/change the rate of interest of its own or as maybe mandated by RBI or the Government and such revised rate of interest shallalways 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 wheneverthe change in the interest rate are displayed/notified at /by the Branch as per thePolicy of the Bank/RBI.

c) Interest tax and other taxes/levies as may be applicable from time to time onthe loan/credit facilities shall be born solely by the Borrower.

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, fixedmachinery, erections etc., constructed and structure erected thereon/to be erected/ constructed



19/51



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 theBank'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 companyapproved 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


20/51

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 thatregard, 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) The Borrower/ss going into liquidation/insolvency;

f) A Receiver being appointed in respect of the whole or any part of the Borrower's property

g) 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) If any evidence or information furnished pursuant to clause

(i) whereof is subsequently found to be incorrect in any material particular and

j) 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.


21/51

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.



14. THAT the Borrower/s hereby agree as pre-condition of the loan/advances (fund based & non-

fund 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 theBank 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 theloans/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 theretoand 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 anysuch (a) information and data relating to the Borrower/s (b) the information or datarelating 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 maydeem 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 trueand correct; and

iii) The Borrower/s further undertakes that (a) the Credit Information Bureau (India) Ltd. andany other agency so authorised my use, process the said information and datadisclosed by the Bank in the manner as deemed fit by them and (b) the CreditInformation Bureau (India) Ltd. and any other agency so authorised may furnish forconsideration, the processed information and data or products thereof prepared bythem, to Banks/financial institutions and other credit grantors or registered users, as

may be specified by the Reserve Bank in this behalf.


That the Bank shall have right to sell or transfer (by way of assignment, securitisation orotherwise the whole or part of the credit facilities and outstanding amount under thesame 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 undersole discretion.

That the BORROWER/S expressly agrees in the event of sale, or transfer as aforesaidto accept such person to whom the credit facility is sold ortransferred as his lender and


22/51

make the repayment of the same to such person as may be directed by the Bank.


17. That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all thesecurities belonging to him/them (which may now be in Banks possession or whichmay 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 fromhim/them to the Bank whether singly or jointly with another or others. Further in additionto 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 orany of his/their accounts with and liabilities to the Bank and set-off or transfer any sumor sums standing to the credit of any one or more of such accounts in or towardssatisfaction 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 andseveral or joint.


18. *The BORROWER/S further agree, declare, undertake, assure and confirm that thefollowing is the exhaustive list of his /their legal heirs with full address/es, and the saidlist is furnished to enable the Bank to take steps for recovery of the dues under variouscredit facilities from any one/some/all of them in the event of his/their demise, or of anyone or some or all of us during the currency/ pendency of credit facilities extended bythe bank to him/them.

Name /Age ofBorrower/s/s

Name/s , age/sof legal heir/s

Relationwith theBorrower/s

Address Occupation/ Vocation of legalheirs


19. 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 ofhis/their legal heirs that may be occasioned by birth, death, marriage etc. And/orthat may be caused by any amendment/change in his/their personal Law/sand/or account of any amendment/change in the general statutes/laws of thecountry.

20. The BORROWER/S also give hereunder particulars of immovable properties belongingto him/them, which have not been charged to the Bank are also not charged to anyBank/ Financial Institutions / Creditor as security for financial assistance granted tohim/them.


23/51

ItemNo.

Particulars of immovable

properties with fulladdress (wheresituated etc.)

In whosenames the

propertystands

Presentencumbrances

Whetherleaseholdorownership

PresentMarketvalue(Rs. InLacs)


21. The Borrower/s further declares that,


relation of directors of a banking company.o 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 ando 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. 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.

ORDetails of court cases pending against me / us / any Partner/ Director / Firms/ Companyare as under:-

SuitNo.

Date Amount (in lacs)

Particular of the case Remark / Present Status

23. It is hereby agreed that the stamp duty, registration charges chargeable or which may be heldto 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 yearfirst herein above written.

*THE CO MM ON SEAL O F M/s.______________)________________________________________ )PVT.LTD/LIMITED was affixed )


24/51

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 BO RROW ER/S

For M /s. _______________

PROPRIETOR

* Seal of the Com pany be affixed as perprovisions of Articles of

Associations of the Company. LD-18

PARTNERSHIP FIRMFor M/s________________1)_______________

2)_______________3)_______________4)_______________PARTNERS


25/51

ANNEXURE-19

LETTER/S OF CREDIT FACILITY AGREEMENT OF HYPOTHECATION

(GOODS / MOVABLES)

THIS Hypothecat ion Agreement made at________________________ this____________ day of

________________in the Christian Year___________________________________________________

BETWEEN________________________________________________________________

(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


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) If an individual, shall include his or her heirs, executors, administrators and assigns.

(e) 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,


26/51

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

byway 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 S EN T S W I T 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 ofRs.____________(Rupees____________________________________only) at anyone 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., consum-

able 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


27/51


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 com-

prising Plant, Machinery, tools and accessories, stores, spares relating to the Plant K Ma-

chinery, furniture, articles, office equipments, computers and things etc. purchased/im-

ported 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

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) is----------------------- % per annum. It is

further agreed that the amount of interest so calculated a aforesaid shall


28/51

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.

b) The Borrower is aware and confirms that the Bank shall at any time and from time to timebe entitled to review/change the rate of interest of its own or as may be mandated by RBI orthe Government and such revised rate of interest shall always be construed as agreed to bepaid by the Borrower(s) and hereby secured. Borrowers shall be deemed to have notice ofchange 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/creditfacilities shall be born solely by the Borrower.

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 inthe 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



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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


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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 theBorrower/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.


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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 partthereof) 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


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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

thepossession of the Bank or not at the t ime of such loss or damage or the happening o

cause thereof.The B orrower/s shall at all times indemn ify and keep indemn ified the Bank f

and against all suits, proceedings, costs, charges, claims and dem ands w hatsoever that m

any time arise or b rought or made by any person agains t the Bank in respect o f any a

matters and things lawful ly done or caused to be done by the Bank in connect ion wi

said hypothecatedpremises or in pursuance of the r ights and pow ers of the Bank under t

Agreement .

18That the Borrower / s shal l d i sp lay the Bank ' s name on the godow n, fac tory and o ther p

approved by the Ba nk where the hypothecated prem ises charged to the Bank a nd against wlimit/s for purposes of drawings have been fixed un der the aforesaid facility have bee n sindicating that such good s and assets are hypotheca ted to the Bank .

19The Borrower/s understands that as a precondition, relating to grant of theloans/advances, the Bank requires Borrowers consent for the disclosure by the Bankof, information and data relating to Borrower/s, of the credit facilities availed of/to beavailed, by the Borrower/s, obligations assumed / to be assumed, by Borrower/s inrelation 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 anysuch (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 CreditInformation 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 trueand 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 datadisclosed by the Bank in the manner as deemed fit by them and (b) the CreditInformation Bureau (India) Ltd. and any other agency so authorised may furnish forconsideration, the processed information and data or products thereof prepared by

them, to Banks/financial institutions and other credit grantors or registered users, asmay be specified by the Reserve Bank in this behalf.


That the Bank shall have right to sell or transfer (by way of assignment, securitisation orotherwise the whole or part of the credit facilities and outstanding amount under the sameor any other rights under this agreement or any other documents to any other person in amanner 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


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accept such person to whom the credit facility is sold ortransferred as his lender and makethe repayment of the same to such person as may be directed by the Bank.



20. That the BORROWER/S/S hereby irrevocably agree that the Bank may hold all thesecurities belonging to him/them (which may now be in Banks possession or whichmay at any time hereafter come into Banks possession) and the proceeds thereofrespectively not only for the specific credit limits made thereon but also as collateralsecurity or for any other moneys now due or which may at any time be due fromhim/them to the Bank whether singly or jointly with another or others. Further in additionto 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 orsums standing to the credit of any one or more of such accounts in or towardssatisfaction of any of his/their liabilities to the Bank on any other account or in any otherrespect, whether such liabilities be actual or contingent, primary or collateral and severalor joint.


21. *The BORROWER/S further agree, declare, undertake, assure and confirm that thefollowing is the exhaustive list of his /their legal heirs with full address/es, and the said listis 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 orsome or all of us during the currency/ pendency of credit facilities extended by the bank tohim/them.

Name /Age ofBorrower/s/s

Name/s , age/sof legal heir/s

Relationwith theBorrower/s

Address Occupation/ Vocation of legalheirs


22. The BORROWER/S further agree, undertake and assure that he/they shallpromptly inform the Bank in writing of any change in the above particulars ofhis/their legal heirs that may be occasioned by birth, death, marriage etc. And/orthat may be caused by any amendment/change in his/their personal Law/s and/oraccount of any amendment/change in the general statutes/laws of the country.

23. The BORROWER/S also give hereunder particulars of immovable properties belongingto him/them, which have not been charged to the Bank are also not charged to any


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Bank/ Financial Institutions / Creditor as security for financial assistance granted tohim/them.


ItemNo.

Particulars of immovable

properties with fulladdress (wheresituated etc.)

In whosenames the

propertystands

Presentencumbrances

Whetherleaseholdorownership

PresentMarketvalue(Rs. InLacs)

24. The Borrower/s further declare that,


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

FILE 7-Annexure 16, 18, 19 and 21

Documents