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iii)

Legal Mortgage of machineries with full details of each machinery in seriatim.

If the investment is collaterally/additionally secured by pledge of shares of reputed Public Limited Company on Bank’s approved list and quoted in the Stock Exchange, the branch shall obtain the following additional documents: i) Agreement for pledge of shares along with original Share Certificates (No share in the name of minor shall be accepted as security). ii) Share Transfer Deed in duplicate one copy signed dated and another copy signed but undated. iii) Share Delivery Letter addressed to the Bank. iv) Letter to the concerned Company to register Lien in Bank’s favor. This notice shall be sent by Registered Acknowledgement Due Post (Registered A/D post) and confirmation of recording the Lien shall be obtained from the concerned Company. v) Letter of Authority in Bank’s favor duly signed by the share holder to collect Dividend and Bonus on his behalf of the share pledged to the Bank. If investment is sanctioned to Partnership Firms, the branch must obtain the following documents: i) Letter of Partnership signed by all partners. ii) Copy of Partnership Deed duly attested by the Incumbent-in-charge of the Branch. In case of Investment to Private or Public Limited Company, the branch shall also obtain the following additional documents: i) Certified copy (duly certified by the Registrar of Joint Stock Companies and Firms) of the Memorandum and Articles of Association to ensure that the Company has necessary power to borrow/take investment from any Bank. ii) Resolution of the Board of Directors of the Company to do business and authorising the office bearers to execute necessary documents. iii) Personal Guarantee of all the Directors of the Company. iv) If the investment is on Hypothecation basis, in addition to other charge documents, the branch shall create 1st charge under relevant section of the Company’s Act-1994 in Bank’s favour in respect of Company’s Assets prescribed as security. This charge shall be created with the Registrar of Joint Stock Companies and Firms within 21 days from the date of execution of the relative Charge Documents. v) Certificate issued by the Registrar of Joint Stock Companies and Firms under section-114 of the Companies Act, 1994 in respect of creation of charges. vi) Copies of Memorandum and Articles of Association with latest amendments, if any, duly certified by the Registrar of Joint Stock Companies and Firms and attested by the Managing Director on every page with official seal of the Company and duly verified by the Branch Incumbent/Authorized Official. vii) A certified copy of Certificate of Incorporation. viii) A copy of Certificate of commencement of business in case of Public Limited Company. In case of investment to a Trust Organisation, the branch must obtain the following documents, in addition to other charge documents:

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