MEMORANDUM FOR CREATION OF EQUITABLE MORTGAGE
Shri _________________ Proprietor of the business carried on by him as proprietor under the name and style of ______________ (hereinafter called the Firm.) having its office at _______________ /residing at No. ______ (hereinafter called the .Borrower.) attended at _________ Branch Office of __________Bank at ___________ (hereinafter called .the Bank.) on the _______ day of ________ 20______ and there deposited with the Bank in the presence of Shri _______________________ and Shri __________________ two of the Officers/employees of the Bank, the documents of title mentioned in the First Schedule hereto relating to the Borrower’s unencumbered immovable property/properties (covered by the said title deeds) and particularly described in the Second Schedule hereto with intent to create in favour of the Bank a first mortgage of the said immovable property/ properties and all the factories, buildings, structures, immovable plant and machinery erected on or affixed to or situated on the said immovable property/ properties and any other buildings, factories, structures, immovable plant and machinery which might hereafter be erected on or affixed to or situated on the said immovable properties as security for the credit facilities granted or to be granted as and by way of Overdraft and/or Cash Credit and/or Loan and/or guarantee and/or other banking/financial facilities by the Bank to the Firm/Borrower with all interest, costs (as between attorney and client), expenses and other moneys due to the Bank by the Firm/ Borrower and also as security for the due payment on demand to the Bank by the Firm/Borrower of all other present and future indebtedness and liability of the Firm/Borrower to the Bank and that Shri ________________, the properietor of the Firm/Borrower also acknowledged that the maximum amount intended to be secured by the Mortgage created as aforesaid was for the purpose of Section 79 of the Transfer of Property Act, 1882 but for no other purpose and without prejudice to the Firm’s/Borrower’s full liability to the Bank under the said Mortgage fixed at Rs. ____________ (Rupees ________________________).
THE FIRST SCHEDULE ABOVE REFERRED TO:
List of Title Deeds
(a) Date of each document,
(b) nature of each document such as Sale Deed, Lease Deed, etc. etc. and
(c) parties to each document should be clearly stated.
THE SECOND SCHEDULE ABOVE REFERRED TO:
Description of the Property
(a) Municipal number of the premises,
(b) Touzi No., Khatian No., Dag No., Mouza, Pargana, District and Police Station within whose jurisdiction the land is situated and the area thereof should be stated, (c) if there is any building, a description of the building should also be given.
- Applicable in the case of Partnership firm
Shri ___________________ and Shri __________________ partners of the business carried on by them in co-partnership under the name and style of __________________ (hereinafter called .the Firm.) having its office at _______________ attended at _____________ Branch Office of _____________ Bank at ______________ (hereinafter called .the Bank.) on the ___________ day of __________ 20____ and there deposited with the Bank in the presence of Shri ________________ and Shri ______________ two of the Officers/employees of the Bank, the documents of title mentioned in the First Schedule hereto relating to the unencumbered immovable property/properties (covered by the said title deeds) and particularly described in the Second Schedule hereto with intent to create in favour of the Bank a first mortgage of the said immovable property/properties and all the factories, buildings, structures, immovable plant and machinery erected on or affixed to or situated on the said immovable property/properties and any other buildings, structures, factories, immovable plant and machinery which might hereafter be erected on or affixed to or situated on the said immovable properties as security for the credit facilities granted or to be granted as and by way of Overdraft and/or Cash Credit and/or Loan and/or guarantee and/or other banking/financial facilities by the Bank to the firm with all interests, costs (as between attorney and client), expenses and other moneys due to the Bank by the firm and all the partners thereof and each of them and also as security for the due payment on demand to the Bank by the firm and all the partners thereof and each of them of all other present and future indebtedness and liabilities of the firm to the Bank and that Shri _______________ and Shri ______________ partners also acknowledged that the maximum amount intended to be secured by the Mortgage created as aforesaid was for the purpose of Section 79 of the Transfer of Property Act, 1882 but for no other purpose and without prejudice to the firm.s and/or of the partner or partners thereof full liability to the Bank under the said Mortgage fixed at Rs. ________ (Rupees ______________________)
THE FIRST SCHEDULE ABOVE REFERRED TO
List of Title Deeds
(a) Date of each document,
(b) nature of each document such as Sale Deed, Lease Deed, etc. etc. and
(c) parties to each document should be clearly stated.
THE SECOND SCHEDULE ABOVE REFERRED TO:
Description of the Property
(a) Municipal number of the premises,
(b) Touzi No., Khatian No., Dag No., Mouza, Pargana, District and Police Station within whose jurisdiction the land is situated and the area thereof should be stated,
(c) if there is any building, a description of the building should also be given.
- Applicable in the case of the Company.
Pursuant to the resolutions passed by the Board of Directors of ________________ (hereinafter called .the Company.) at its meeting held on the ____________ day of ________, 20____ Shri_______________, one of the Directors of the Company attended at ________________ Branch Office of _________________________ Bank at _______________ (hereinafter Called .the Bank. ) on the ____________ day of ____________ 20_____ and there deposited with the Bank in the presence of Shri _________________ and Shri _____________ two of the Officers/employees of the Bank the documents of title mentioned in the First Schedule hereto relating to the unencumbered immovable property/properties (covered by the said title deeds) and particularly described in the Second Schedule hereto belonging to the Company with intent to create in favour of the bank a first mortgage of the said immovable property/ properties and all the factories, buildings, structures, immovable plant and machinery erected on or affixed to or situated on the said immovable property/properties and any other buildings, factories, structures, immovable plant and machinery which might hereinafter be erected on or affixed to or situated on the said immovable properties as security for the due payment, on demand, of all moneys due and payable and which would be due and payable in future to the Bank for or in connection with the credit facilities as and by way of Overdraft/Cash Credit./Loan/ guarantee or any other banking/financial facilities granted or to be granted by the Bank to the Company with all interest, costs (as between attorney and client) and expenses which might be due to the Bank and that Shri ________________ also acknowledged that the maximum amount intended to be secured by the mortgage created in favour of the Bank as aforesaid was for the purpose of Section 79 of the Transfer of Property Act, 1882 but for no other purpose and without prejudice to the full liability of the Company to the Bank under the said Mortgage fixed at Rs. ________ (Rupees ____________).
THE FIRST SCHEDULE ABOVE REFERRED TO
List of Title Deeds
(a) Date of each document,
(b) nature of each document such as Sale Deed, Lease Deed, etc. etc. and
(c) parties to each document should be clearly stated.
THE SECOND SCHEDULE ABOVE REFERRED TO
Description of the Property
(a) Municipal number of the premises,
(b) Touzi No., Khatian No., Dag No., Mouza, Pargana, District and Police Station within whose jurisdiction the land is situated and the area thereof should be stated,
(c) if there is any building, a description of the building should also be given.
- Applicable in the case of Guarantors
Shri _____________ attended at _______________ Branch Office of ___________ Bank at ______________ (hereinafter called .the Bank.) on the day of _________ 20____ and there deposited in the presence of Shri _____________ and Shri ______________ two of the officers/ employees of the Bank the documents of title mentioned in the First Schedule hereto relating to the unencumbered immovable property/properties (covered by the said title deeds) and particularly described in the Second Schedule hereto and he also acknowledged and declared before the said Officers of the Bank that in consideration of the Bank at his request granting or agreeing to grant to ___________________ (hereinafter called .the Borrower.) the banking facilities by way of Cash Credit/Overdraft/Loan/guarantee or any other banking/financial facilities he had deposited the said title deeds with intent to create in favour of the Bank a first mortgage of the said immovable property/properties and all factories, buildings, structures, immovable property/properties and any other buildings, factories, structures, immovable plant and machinery which might hereafter be erected on or affixed to or situated on the said immovable properties as security in support of his guarantee dated _______________ and also as security for the financial facilities granted or to be granted as and by way of Cash Credit/Overdraft/Loan/guarantee or other banking/financial facilities by the Bank to the Borrower with all interest, costs (as between attorney and client), expenses and other moneys which might be due to the Bank by the Borrower in relation to the said banking facilities or in connection therewith or on account thereof and that Shri _________________ further acknowledged that the maximum amount intended to be secured by the Mortgage created as aforesaid was for the purpose of section 79 of the Transfer of Property Act, 1882 but for no other purpose and without prejudice to the full liability of the Borrower and of himself to the Bank fixed at Rs. _____________ (Rupees _________________________).
THE FIRST SCHEDULE ABOVE REFERRED TO
List of Title Deeds
(a) Date of each document,
(b) nature of each document such as Sale Deed.Lease Deed. etc. etc. and
(c) parties to each document should be clearly stated.
THE SECOND SCHEDULE ABOVE REFERRED TO
Description of the Property
(a) the Municipal number of the premises,
(b) Touzi No.. Khatian No.. Dag No. Mouza. Pargana, District and Police Station within whose jurisdiction the land is situated and the area thereof should be stated,
(c) if there is any building, description of the building should also be given.
