IV. Mortgage of leasehold land from GDDIDC

1. Lease Agreement/Hire Purchase, for a period of not less than the repayment period of the loan, duly registered.

2. Letter of Allotment.

3. Last and upto date premium/rent receipt.

4. NOC from GDDIDC for mortgaging the plot and/or building in favour of Corporation.

V. Hypothecation of plant and machinery in own premises

Title Deeds and latest Survey Records in Form No. 1 and XIV of the Company over the Land including House tax records.

VI. Hypothecation of plant and machinery in leasehold premises

1. Original lease deed of the premises for a period not less than the loan repayment period, duly registered.

2. NOC from the Lessor, in the prescribed format (to be obtained from the Corporation Office) to be executed before Notary.

3. Last and upto date receipt towards payment of rent.

4. Title deeds and latest Survey Records in form No. I and XIV of the Lessor to prove his ownership over the premises.

5. House tax records.

Note:

i) If the quantum of loan sanctioned is below Rs. 5.00 lacs then V, VI (1) and (4) above may not be insisted.

ii) In case the Lessor is GDDIDC, VI (4) above is not necessary.

VII. Hypothecation of plant & machinery where premises include building

If and when a building/s is/are involved then:-

i) The construction licence  therefore from the Competent Authority such as Municipal Council, Grampanchayat etc.

ii) Sanad for conversion of land for industrial use from the Collector. (N. A. Certificate).

iii) Last and upto date house tax receipt.

VIII. Execution of document

The document/s will have to be executed by affixing the common seal of the Company in presence of directors and/or person/s authorised by the resolution of Board of Directors passed under the Articles of Association of the Company or can be signed by a person expressly authorised by the Company under a Power of Attorney to that effect.

Note:

The above check-list has been prepared as per the normal requirements. Any case falling outside the list may please be pointed out to the Advocate concerned or to the Legal Section of the Corporation for advice.

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