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Vehicle Finance
Structured financing options for eligible vehicle purchases with an easy application workflow.
Complete Supplied Loan Document Pack — All Pages
यहाँ आपकी दी हुई Word document की पूरी सामग्री जोड़ी गई है। ऊपर form भरने के बाद “Print Complete Form” दबाएँ; website form के साथ पूरा supplied document pack भी print होगा।
4. Loan EMI Calculator
Monthly EMI₹0
Total Interest₹0
Total Payment₹0
1. Loan Amount........................................................................................................
2. EMI.......................................................................................................................
3. EMI DATE............................................................................................................
4. Adv. EMI..............................................................................................................
5. Payment Cash/Cheque..........................................................................................
6. Cost of Veh...........................................................................................................
7. ......................................................................................................................
8. Old or more Finance.............................................................................................
9. F.I. .......................................................................................................................
10. Residence Owner/Rented....................................................................................
11. A/c in Bank...........................................................................................................
12. Security Cheque...........................................PDC Cheque....................................
13. ...............................................................................................................................
14. ...............................................................................................................................
15. ...............................................................................................................................
16. ...............................................................................................................................
17. ...............................................................................................................................
18. ...............................................................................................................................
TVR BY
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HAND
MEMO
EXECUTIVE NAME |
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HIRER CATEGORY (TRP/FTB/FTU) |
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AGENT NAME |
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C |
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AGENT CODE |
S/O |
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BORROWER NAME |
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EMI IN (CASH/BANK) |
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BORROWER ADDRESS |
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PH. (O) (R) (M) |
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VEHICLE & FINANCE DETAIL |
REMARK |
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LAP/VEHICLE NUMBER |
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CO-BORROWER NAME |
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LAP/VEHICLE NAMR |
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S/O |
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LAP/VEHICLe MFG. YEAR |
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ADDRESS |
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VALUATION AMOUNT |
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LOAN AMOUNT |
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Ag. No. Vehicle No. |
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TENOR |
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PH. No. (M) |
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EMI AMT. |
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GR. NAME |
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INTEREST RATE |
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S/O (O) |
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IRR |
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ADDRESS |
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MARGIN MONEY |
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ADVANCE EMI AMT. |
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Ag. No. Vehicle No. |
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PH. No. (M) (O) |
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1st EMI DT. |
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DOWN PAYMENT DETAIL |
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PAYMENT IN FAVOUR OF |
AMOUNT
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F.C. + GST = +S.D. = |
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Ins Person DOB YEAR |
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TOTAL |
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(1)_html_7613b01.gif){kind=small}
LOGIN CHARGE :- CHEQUE No. _______________/Receipt No._______________Amount__________________
(Applicant's Sign.) (Credit Manager Sign.) (HOD SIGN.)
(1)_html_71e3a709.gif)
FIELD INVESTIGATION REPORT
F.I/LOS No._____Dt. of Receipt_________Time______Mktg. Person____________
Date of FI___________________ Date of Submission_________________________
FI Person___________E-Code______________Mobile No_____________________
Borrower Name ……………………………………………….. DOB…………................
Borrower's Father/Husband Name…………………………………………………………………….
Permanent Address |
Present Address |
................................................................ ................................................................ ................................................................ ...................Pin………………………… Land Mark ……………………………. Tel No. (M) ……………….………….. Land Line (With std)…………………. |
................................................................ ................................................................ ................................................................ ...................Pin………………………… Land Mark ……………………………. Tel No. (M) …………………………... Land Line (With std)…………………. |
Name of Vehile |
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Make & Model |
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Cost of Vehicle |
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Margin Money |
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Finance Amount Rs. |
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Tenure |
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S.No. |
Residence FI About Borrower |
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बोरोवर का स्वयं का मकान है, यदि हैं तो किसके नाम से तथा कब से रह रहा है तथा उसकी अनुमानित कीमत क्या है। रहन सहन का स्तर कैसा है? क्या उसका मकान नेगेटिव एरिया में तो नहीं है? यदि हां तो क्यों। |
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यदि बोरोवर स्वयं के फ्लैट में रहता है तो सोसायटी कार्यालय से जिससे जानकारी ली गयी उसका नाम व फोन नं. |
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बोरोवर का स्वयं का मकान नहीं है, तो मकान मालिक का नाम व फोन नं, तथा कब से रह रहा है तथा मासिक किराया। रेन्ट एग्रीमेंट है। तो चैक किया या नहीं? |
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बोरोवर के पास कृषि भूमि कितनी है तथा किसके नाम से है, उसकी वर्तमानअनुमानित कीमत तथा उससे कितनी आय होती है। |
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बोरोवर का स्थाई पता (स्थाई निवास का प्रुफ साथ में लेना है) स्थाई पते का टेलिफोनिक वेरीफीकेशन किसने किया? |
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बोरोवर का व्यव्हार तथा Physical Appearance कैसा है बोरोवर झगडालू पृवृत्ति का तो नहीं है बोरोवर के घर के आस पास लोगों में उसकी क्या साख है। आस पास के दो लोगों के नाम मय फोन नं० जिनसे पूछताछ की हो। |
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क्या बोरोवर के घर पर जाने के लिए Public Transport आसानी से उपलब्ध है। यदि नहीं तो कितने किमी के लिए नहीं है। |
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क्या बोरोवर के स्वयं का फोन वर्तमान में चालू स्थिति में है तथा आसानी से लाईने मिल जाती है मोबाइल का कनेक्शन प्रीपेड या पोस्टपेड़ है। बोरोवर के घर पर अन्य सदस्य के पास फोन है तो उसका न०। क्या बोरोवर द्वारा बताये गये टेलीफोन नं० को एफ आई के दौरान चैक किया एवं चालू पाया यदि हां तो कौन से नं० पर बात हुई। |
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बोरोवर के मकान तथा दिये गये पीपी टेलीफोन नं० वालों के मकान में कितनी दूरी है तथा क्या व आसानी से बोरोवर से बातें करवा देता है। |
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बोरोवर के उसके परिवार का कोई व्यक्ति Negative Profile का तो नहीं है. जैसे STD PCO Cable Operator, Court, Police, Political Relation, Finance Business |
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एफ आई के दौरान किस व्यक्ति से मुलाकात हुयी तथा उससे बोरोवर का सम्बंध |
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केस का स्त्रोत क्या है Dealer, Broker, Old Customer यदि दलाल के माध्यम से है तो उसका नाम पता एवं फोन नं. |
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यदि बोरोवर के परिवार में कोई व्यक्ति सरकारी कर्मचारी और वह गारन्टी नहीं दे रहा क्यों नहीं दे रहा तथा उसके सिक्यूरिटी चैक लिये जा सकते हैं। |
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BUSINESS F.I. |
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बोरोवर वर्तमान में अपनी जीविका कैसे चलाता है एवं उसकी मासिक आय कितनी है क्या उस पर उसके परिवार वाले भी आश्रित हैं यदि हैं तो आश्रित सदस्यों की संख्या तथा घर में कोई अन्य कमाने वाला है, तो मासिक आय कितनी है। |
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बोरोवर का व्यावसायिक स्थान स्वंय का है या किराये का? व्यावसायिक स्थान का पूर्ण पता व फोन नं० यदि किराये का है तो मालिक का नाम व फोन व यदि बोरोवर कहीं नौकरी करता है तो कम्पनी का नाम मय पता व फोन नं०
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बोरोवर के पिछले पाँच से दस वर्षों के कारोबार का विवरण यदि बोरोवर का स्वयं का कारोबार है तो कारोबार से सम्बन्धित दो व्यक्तियों से जानकारी मय नाम व फोन नं. यदि बोरोवर कहीं नौकरी करता हो तो कम्पनी, फर्म के मालिक, एच.आर. अथवा किसी उच्च अधिकारी से जानकारी मय नाम व फोन नं. |
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यदि बोरोवर का वर्तमान कार्यस्थल के अलावा अन्य कोई गोदाम कारखाना, या अन्य कोई व्यावसायिक कार्य है तो उसका विवरण मय पता फोन नं.
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Third Place F.I. |
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बोरोवर के अन्य कार्यस्थल जैसे कार्यालय/गोदाम/ साईट व स्थायी निवास का विवरण |
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ABOUT VEHICLE |
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क्या उसके या उसके परिवार में पहले से कोई गाडी है तो किसके नाम से है एवं गाडी विवरण यदि वाहन पर लोन लिया है तो उसका फाइल नं. गाडी नं. या किस नाम से फाइल है। |
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बोरोवर की cibil report कैसी है। cibil report यदि मैच है तो लोन का विवरण वाहन लोन या अन्य कोई लोन |
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क्या बोरोवर या उसके परिवार का सदस्य किसी फाइनेन्स कम्पनी में Defaulter रह चुका है या उसका वाहन कभी Re-Possessed किया जा चुका है। |
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वर्तमान में वाहन की किस्ते कैसे चुकाई जा रही है तथा मासिक किस्त कितने रूपये की है। |
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क्या गाडी बोरोवर चलायेगा या उसका कोई रिश्तेदार चलायेगा या ड्राईवर द्वारा वाहन चलाया जायेगा। |
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क्या बोरोवर के पास Commercial Licence है तथा कितने समय से है या उसको किसी सम्बधिंत कम्पनी में Driving का Experience है। |
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गाडी किस उपयोग में लेगा तथा किस रूट पर चलायेगा तथा क्या उसका परमिट है कहीं गाड़ी का उपयोग Wine Illegal Worked में तो नहीं करेगा। |
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क्या बोरोवर ने किसी स्कूल या अन्य Transport/Travels Co. से गाडी का अनुबन्ध किया है तो विवरण दें। |
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यदि Used Finance का केस है तो वाहन कितने में खरीदा गया है एवं किससे खरीदा गया है व खरीदने की दिनांक |
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यदि स्वंय की गाड़ी पर लोन है तो लोन राशि को किस काम में लेगा तथा किस्ते किस स्त्रोत से चुकायेगा। |
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बोरोवर ने कितने रूपये मार्जिन राशि जमा करवादी है तथा उसका क्या स्त्रोत था। लिये जाने वाले वाहन फाईनेंस के लिए परिवार वालों की रजामंदी है कि नहीं परिवार में किससे बात हुई। क्या बोरोवर को-बोरोवर गारन्टर को पूर्णतया जानता है एवं कब से और यदि व्यक्तिगत रूप से नहीं जानता तो किस व्यक्ति के माध्यम से जानता है उसका नाम व सम्बंध। FI के दौरान आपने क्या दस्तावेज देखे एवं उसका विवरण |
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जो गाडी ली जा रही है वह Negative vehicle की लिस्ट में तो नहीं है। |
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लिये जाने वाले वाहन फाईनेंस के लिए परिवार वालों की रजामंदी है कि नहीं परिवार में किससे बात हुई। |
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क्या बोरोवर को-बोरोवर गारन्टर को पूर्णतया जानता है एवं कब से और यदि व्यक्तिगत रूप से नहीं जानता तो किस व्यक्ति के माध्यम से जानता है उसका नाम व सम्बंध। |
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FI के दौरान आपने क्या दस्तावेज देखे एवं उसका विवरण |
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REFERNCES: |
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References : 1 |
References : 2 |
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Name....………………………………….. Address .....………….......……………….. …………………………………………………………. Pin……………………… Tel No. (M) …………………………….... Land Line (With std)…………….....….... |
Name....………………………………….. Address .....……….......………………..... …………………………………………………………. Pin…………………… Tel No. (M) ……………………….... Land Line (With std)…………….....….... |
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FI Status ( )Positive ( )Negative ( )Refer Comment of FI Person :- ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... रूट मेप नीचे अवश्य बनायें
_____________ ___________ _______________ हस्ताक्षर Borrower हस्ताक्षर FI Person हस्ताक्षर Branch Manager |
IN PRINCIPAL APPROVAL FORM
Dealer : |
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R.O. |
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B. M. |
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CM |
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Branch : |
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ASM |
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Area : |
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Type of Loan : |
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Party Name Address & Contact No |
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Vehicle/Lap/Business/Personal Loan
1. Loan Amount.................................................................................................
2. Tenure..........................................................................................................
3.Intrest Rate....................................................................................................
4.Valuation by Dealer......................................................................................
5.Working Details............................................................................................
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6.Family Detail................................................................................................
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7. Earning Members Detail with Proof
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8.FI by Dealer & Comment
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9. FI Picture or Video of Vehicle of Property Send By Mail { } Whatsapp { }
10. Property Details
a. Area of Land.......................
b. Residential/Commercial................................
c. Cost of Land:- Area.......................... Rate.............................
d. Total Rate.........................................................
e. Cost of Constrution:- Area.......................... Rate.............................
f. Totale Rate ...................................................
g. Total Cost of Property.................................................
1. Reference Name....………………………………….....S/o.................................... Address …………………………………………………………………………….........
…………………………..............................Mobile No...................................................
Gender…....………Age.........................Relation………………………………………..
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2. Reference Name....………………………………….....S/o.................................... Address …………………………………………………………………………….........
…………………………..............................Mobile No...................................................
Gender…....………Age.........................Relation………………………………………..
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Documents Required of Loan :
1. KYC 2.Bank Statement 3. CIBIL 4.FI
5. Valuation 6. Legal 7. Any Other Loan Details
8.More Property Detail on whatsapp or Mail
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Note : Fl by Dealer & Agency Compulsory
Legal Check by advocate
KYC Ration Card, Voter ID, Adhar card, Licence, Pan Card & Passport
(Minimum 3 documents are Mandatory)
Dealer FI, Valuation & Earning Source Should Match To Our Valuation & FI
Signature of Branch Manager/Dealer
Approval by..............................................
Approval Amount.....................................
Remark.....................................................
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Signature of Authorized Person
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बीमा हेतु सहमति पत्र
मैने दिनांक ................................... को ईजी मनी ऑटो लोन शॉप नं 212 प्रथम तल बस स्टैण्ड के पीछे हनुमानगढ जंक्शन से .............................................. रूपये का लोन करवाया है, जिसमें मैं स्वयं ................................................................ पुत्र श्री .................................................................... निवासी ......................................................................................................................................... ऋणी हूँ एवं श्री...................................................................... पुत्र श्री ...............................................................निवासी ........................................................................................................ सहऋणी है।
उपर्युक्त फाईनेंस की राशि सुरक्षित करने हेतु मुझे ''ईजी मनी ऑटो लोन'' द्वारा बीमा कंपनी से बीमा करवाने के लिए बताया गया जिस पर मैनें बीमा कंपनी की शर्तों को समझ कर फाईनेंस राशि सुरक्षित करवाने के लिए बीमा करवाया है जो मेरे लिए व मेरे परिवार के लिए हितकारी है एवं मैं बीमा कम्पनी को अपनी ओर से अधिकृत करता हूँ कि मेरी मृत्यु की स्थिति में जो भी मूल बकाया राशि होगी उसका भुगतान ''ईजी मनी ऑटो लोन'' को कर दिया जावे यदि किसी कारणवश बीमा कंपनी द्वारा फाईनेंस राशि का भुगतान नहीं किया जाता है तो ''ईजी मनी ऑटो लोन'' की इसमें कोई जिम्मेदारी नहीं होगी एवं ''ईजी मनी ऑटो लोन'' मेरी चल व अचल सम्पत्ति से फाईनेंस की बकाया राशि वसूल कर सकेगी जिसमें मेरे सभी नामीत व्यक्ति, उत्तराधिकारी एवं वारिसान को किसी भी प्रकार की कोई आपत्ति नहीं होगी।
उपर्युक्त सहमति मैं अपने पूर्ण हवास एवं स्थिर बुद्धि की अवस्था में दे रहा हूँ।
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हस्ताक्षर ऋणी (Borrower) हस्ताक्षर सहऋणी (Co-Borrower)
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Cheque Submission Form
Important Instructions:-
Cheque should be crossed as "Account Payee Only"
The Cheque should be drawn in favour of "EASY MONEY AUTO LOAN"
"EASY MONEY AUTO LOAN" does not take responsibility for cheques left or drawn in favour of any name other then "EASY MONEY AUTO LOAN"
Please ensure that all corrections has been countersigned in said form
Customer Details:
Proposal No.________________________/Loan No.______________________
Name of Applicant/s________________________________________________ |
Cheque Detail
Sr. No. |
Name-Applicant/ Co-Applicant/Guarantor |
Cheque Number Ranging |
No of Cheques |
Bank Name |
Bank Branch Name |
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I Declare that, I have not given any cheques, other than the ones mentioned above and all cheques are drawn in favour of "EASY MONEY AUTO LOAN"
Applicant Name :-__________________________________________
Applicant Signature :-__________________________________________
Co-Applicant Name :-__________________________________________
Co-Applicant Signature :-__________________________________________
Guarantor Name :-__________________________________________
Guarantor Signature :-__________________________________________
Recd By
Emp Name:___________________Emp ID:_____________Emp Signature________
VEHICLE LOAN AGREEMENT FOR LOAN AND GUARANTEE
BETWEEN
"EASY MONEY AUTO LOAN"
AND
MR./MS._____________________________________________
This composite Agreement for Loan and Guarantee is made on the date and at the place mentioned in Schedule 1 by and between:
EASY MONEY AUTO LOAN, having its registered office at Shop no 212 first floor back side of bus stand hanumangarh jn, Hanumangarh-335512 Rajasthan, hereinafter referred to a "E.M.A.L" (which expression shall, unless repugnant to
or meaning thereof, shall be deemed to mean and include its successors an assigns) of the ONE PART
AND
The Borrower or/and Co-Borrower (s) whose names (s) and address (es) are stated in the Schedule hereto, hereinafter collectively called 'Borrower' (which expression shall, unless it be repugnant to the context ormeaning thereof, deemed to include:
In the event that it is an individual, his/her legal heirs, administrators and executors;
In the event that it is a "E.M.A.L" (including a "E.M.A.L" registered as a Micro, Small or Medium Enterprise "MSME") within the meaning of the Companies Act, 2013 or a Limited Liability Partnership, incorporated under the Limited Liability Partnership Act, 2008, its successors;
In the event that it is a partnership firm (including a firm registered as a Micro, Small or Medium Enterprise "MSME") for the purposes of the Indian Partnership Act, 1932, the partners for the time being and from time to time and their respective legal heirs, executors and administrators, legal representatives and IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER successors;
In the event that it is a sole proprietorship(including a sole proprietorship registered as a Micro, Small or Medium Enterprise "MSME"), the sole proprietor and his/her legal heirs, administrators, executors and legal representatives;
In the event that it is a Hindu Undivided Family (HUF), the Karta and any or each of the members of the HUF and their survivor(s) and his/her/their respective heirs, executors and administrators;
In the event that it is a Society, the members of the Society for the time being and any new members or co-opted from time to time;
In the event that it is a Trust, the Trustee or all the Trustees for the time being thereof and from time to time and their successors) of the OTHER PART;
WHEREAS:
The "E.M.A.L" EASY MONEY AUTO LOAN having its registered office at Shop no 212 first floor back side of bus stand hanumangarh jn, Hanumangarh-335512 Rajasthan,
The Borrower(s) and/or Co-Borrower(s) has approached the "E.M.A.L" and has requested for a grant of a loan facility from the "E.M.A.L" for/against any of the purpose as specified/mentioned in the Schedule 1 and based on the representation, assurances and warranties of the Borrower, the "E.M.A.L" has agreed to grant the loan facility to the Borrower, for an amount aggregating to the facility as mentioned in Schedule 1 subject to the terms and conditions mentioned in this Agreement, which have been duly accepted by the Borrower(s) and guarantor(s) jointly and/or severally.
The Parties hereto are desirous of inter alia entering into this agreement to set out the terms and conditions in relation to the Facility
IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER
ARTICLE I-DEFINITIONS AND INTERPRETATION - The terms and expression contained in this agreement and specified in the "Schedule" are briefly under
"Agreement" means this Agreement as of the date hereof and as amended or supplemented with the provisions hereof together with schedules, annexures attached and/or that mayfuture thereto.
"Asset" means any property whether movable or immovable and whether tangible or intang a Security Interest is to be created in favour of the "E.M.A.L" including the Property, the construction/expansion/extension/improvement of which is financed by the "E.M.A.L" here
"Applicable Laws" means any act, statute, law, regulation, enactment, ordinance, treaty, m order, award, decree, bye-laws, rule of common law, clearances, directions, directive policies, licenses, requirement, or any governmental restriction or condition including any s decision of, or determination, application or execution by, or any interpretation or pronoun the force of law of, any Government Authority having jurisdiction over the matter in questi effect as of the Effective Date or thereafter;
"Borrower", "Co Borrower" shall mean and included where the context admit and subjec provided (a) In case the Borrower or/and Co-Borrower is a "E.M.A.L" (including a "E.M.A.L" Micro, Small or Medium Enterprise "MSME") within the meaning of the Companies Companies Act, 2013 or a Limited Liability Partnership, incorporated under the Lin Partnership Act, 2008, its successors; (b) in case the Borrower or/and Co-Borrower is an in proprietary concern the heirs executors legal representatives and permitted assigns of the in proprietor; (c)in case the Borrower or/and Co-Borrower is a partnership firm the partners for and from time to time of the partnership firm the survivor for survivors, their re administrators, executors, legal representative and permitted assigns (d) in case the Borro borrower being the joint liability group-all its members (e) in case the Borrower or/and being a self help group-all its members (f) in case the Borrower or/and Co-Borrower bei
Secretary Mantri, President, Directors and the members of the society.
"Business Days" means a day which is not a Saturday, Sunday or a Public Holiday at Jaipu banks in the State of Rajasthan are open for general business.
"City of Registration" in relation to: New asset/s to be acquired, shall mean the city where the asset/s is to be registered, if requir
Used assets acquired or to be acquired for commercial means in the city or town where suc registered if required with the Registering Authority.
"Clause" shall mean the clause in this agreement "Corporation" shall mean any body corporate constituted or incorporated under the provisions of any law/statute applicable for the time being in force.
"Documents" or "Collateral Documents" shall mean this agreement and such other documents incidental hereto and/ of contemplated hereby, hich the Borrower or/and Co-Borrower has furnished to the "E.M.A.L" and/or on which the "E.M.A.L" has relied upon to extend this loan facility to the Borrower.
"Due Date" means the date(s) on which any amounts from the Borrower or/and Co-Borrower to the "E.M.A.L" (including the principle amount of the Facility, interest and/or any other Outstanding Amount, fall due as per this Agreement, Schedule 1, the Sanction Letter and/or any other Document executed in respect to the Facility or as demanded by the "E.M.A.L".
"Electronic Clearing System" (ECS) an electronic debit clearing service as notified by Reserve Bank of India, participation in which has been approved by the Borrower or/and Co-Borrower by giving prior consent in writing to the "E.M.A.L".
"Events of Default" shall have the meaning ascribed to it under Article 15 of this Agreement.
"Facility" shall mean the sanctioning of loan amount to the Borrower as prescribed in the sanction letter and the schedule for the purpose of purchasing used four wheeler and new two wheeler vehicles.
"Fees and Charges" shall mean and include processing charges, service charges, prepayment charges, check bounce charges, late payment charges, cheque swapping charges, loan re-schedulement charges, valuation charges, loan statement charges, loan cancellation and re-booking charges, stamp duty and registration fees in case any document requires registration and other statutory charges, NOC issuance charges legal collection, repossession and incidental charges and all other amounts receivable by the "E.M.A.L" in its ordinary course of business but not limited to those specified herein.
"Guarantor(s)" means individuals mentioned in Schedule 1.
"Instalment(s)" shall mean the amount of periodic payments to be made by the Borrower or/and Co- Borrower as per the scheme selected by the Borrower or/and Co-Borrower as specified in the schedule here under written, necessary to repay the loan inclusive of interest, tax and other dues over the period of the loan.
"Joint Liability Group" Homogeneous group formed with the objective of getting loan with mutual liability/guarantee.
"Late Payment Fees" shall mean the fees assessed for a payment delayed beyond the due date of the instalment and as specified in the schedule hereunder written, where applicable.
"Lending Office" in relation to the "E.M.A.L" shall mean the branch office of the "E.M.A.L" specified in this schedule hereunder written from which the loan is sanctioned and/or disbursed.
"Loan" shall mean the loan amount provided herein and the Schedule 1.
"Outstanding Amount" means principle amount of the facility, outstanding from time to time, and all interest, default interest, penal interest, prepayment charges, costs, commissions, fees and charges, expenses and other amounts due under or in respect of this Agreement.
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
"Post Dated Cheques" (PDCs) shall mean the post dated cheques drawn to match the date of each instalment on request and if so required by the "E.M.A.L".
"Pre equated monthly instalment/s interest (PEMI)" means interest at the rate indicated in the Schedule 1 (S. No.) attached with the Agreement from the date of disbursement immediately prior to the commencement of the Instalment.
"Prepayment" shail mean the premature repayment of the Facility as per the terms and conditions laid down by the "E.M.A.L" in this regard and prevailing at the time of such pre mature repayments by the Borrower.
"Prepayment Schedule" means prepayment schedule of the Facility, if any, as per the Sanction Letter. "Property" means movable property as described in Schedule 1 of this Agreement on which a charge is proposed to be created to secure the Facility.
"Purpose" shall mean the purpose for which the Facility has been agreed to be utilised by the Borrower, as mentioned in Schedule 1 of the Agreement
"Rate of Interest" shall mean the rate of interest referred to in Schedule 1 and as mentioned in the Sanction Letter issued to the Borrower or/and Co-Borrower by the "E.M.A.L".
"Repayment" means repayment of the principal amount of the loan interest thereon, commitment and/or any other charges, insurance (when applicable), fees and/or other dues payable in terms of this Agreement to the "E.M.A.L" and means in particular repayment as provided in this Agreement.
"Sanction Letter" means the letter issued on the date as specified in Schedule 1 to this Agreement, by the "E.M.A.L" to the Borrower or/and Co-Borrower sanctioning in principle the Facility being granted hereby
"Security" means any property whether immovable or movable and whether tangible or intangible on which a Security Interest is proposed to be created in favour of the "E.M.A.L" in furtherance of this Agreement and wherever applicable shall include Additional Security and which is more specifically mentioned in Schedule 1 to this Agreement.
"Security Document" means deed(s), document(s) or any other instrument(s), memorandum or any paper written manually or in electronic media, or any other visual form and whether or not signed, whether or not registered, created or evidencing the creation of any Security Interest in favour of the "E.M.A.L" in respect of Securi y and Additional Security, if any, for repayment/payment of the Outstanding Amounts.
"Security Interest" means a guarantee, or any interest created on any asset including mortgage, charge, lien, hypothecation of or a third-party interest on an asset as and by way of security for repayment /payment of the Outstanding Amounts in respect of the Facility.
"Term or Tenor" shall mean the period as specified in Schedule 1 (S.No.) of this Agreement and also mentioned in the Sanction Letter issued to the Borrower, within which the Facility has to be repaid by the Borrower or/and Co-Borrower to the "E.M.A.L" along with interest, cost, expenses, fees & charges and other amount as specified in this Agreement.
"Sub-Clause" unless otherwise stated, shall mean the sub clause and which the reference appears.
IN THIS AGREEMENT, UNLESS THE CONTRARY INTENTION APPEARS:
references to articles and schedules and references to articles and schedules of and to this Agreement
in this Agreement, if the context permits or requires words importing the masculine gender shall include the feminine and neuter genders, and words in the singular number shall included the plural and vice versa
annexures and schedules form an integral part of Agreement. In the event of any conflict between any article of the Agreement and any of the annexures and schedules, the provision of the article shall prevail
the Sanction Letter forms a part of this Agreement and all terms and conditions relating to the Facility stipulated the Sanction Letter shall be construed as a term and condition contained in this Agreement, however in the event of any conflict between the terms of the Sanction Letter and this Agreement, this Agreement shall prevail.
"Self Help Group" homogeneous group of volunteers formed for the purpose of thrift and internal lending among the members.
"Standing Instruction" (SI) written instructions issued by the Borrowers to the bank of the Borrower or/and Co-Borrower to debit the account of the Borrower or/and Co-Borrower as maintained with the bank for facilitating payment of instalments to the "E.M.A.L".
"Tax" means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with the failure to pay or delay in paying any of the same).
reference to any agreement, including this Agreement, deed, document, instrument, rule, regulation, notification, statute or the like shall mean a reference to the same as may have been duly amended, modified or replaced. For the avoidance of doubt, a document shall be construed as amended, modified or replaced only if such amendment, modification or replacement is executed in compliance with the provisions of such document(s).
in the event of any disagreement or dispute between the "E.M.A.L" and the Borrower or/and Co-Borrower regarding the materiality or reasonableness of any matter, the opinion of "E.M.A.L" as to the materiality shall be final and binding on the Borrower.
LOAN AMOUNT, DISBURSEMENT, INTEREST AND AMORTISATION
TERMS OF LOAN
The "E.M.A.L" hereby agree to granta loan to the Borrower and Co-Borrower(Borrowers)and the Borrowers agrees to borrow the same for the Purpose mentioned herein and subject to the covenants and terms and conditions set forth herein.
The facility is granted only for or towards the purchase/acquisition of the Asset as detailed in Schedule I.
The loan provided under this Agreement shall be for the period as specified under tenure of Loan in the Schedule commencing from the date specified therein(First Installment Date), unless this Agreement is terminated earlier in a manner stipulated herein and the Borrower and the Guarantor shall jointly and severally repay the same before the expiry of the said period.
DISBURSEMENT
The Disbursement of the Facility shall be subject to the performance by the Borrower or/and Co-Borrower of all its undertakings and/or conditions precedents to be performed under this Agreement. Provided that the "E.M.A.L" shall have the absolute discretion to postpone, refuse or cancel the disbursement even if the Borrower or/and Co-Borrower is in compliance of all the conditions precedent,
Disbursement of the Facility shall be made at the discretion of Lender either in lumpsum or in or in tranches; details of same shall be specified in the schedule(which decision shall be final and binding on the Borrower). In the event the disbursement is to be made in multiple tranches, the Disbursement of each tranche shall be made upon the Borrower or/and Co-Borrower delivering a notice to the "E.M.A.L" based on the need of the Borrower. The notice shall clearly specify the date of disbursement, amount, facility to be drawn, detail of the account for disbursement.
Disbursement will be always subject to made invest the margin money of the Borrower or/and Co- Borrower as per schedule attached with the agreement. The Borrower or/and Co-Borrower shall acknowledge the receipt of the amount under Facility disbursed in writing.
Disbursement shall be made directly to Borrower or/and Co-Borrower or to any third party on the instruction of the Borrower or/and Co-Borrower provided that the Borrower or/and Co-Borrower has provided written instruction for the disbursement to third party. In case the purpose of Facility is to purchase a capital asset, the "E.M.A.L" shall make the disbursement in favour of the vendor selling such capital asset.
The "E.M.A.L" shall have the right to adjust PEMI or any other dues against any subsequent amount of the Facility due to be disbursed by the "E.M.A.L" to the Borrower.
The "E.M.A.L" may, at its discretion, maintain appropriate entries in its books of accounts in relation to the Facility and such entries shall be final and binding upon the Borrower.
In case of any statement or Duplicate Document specially required by the Borrower, the "E.M.A.L" shall charge as stated in the Schedule.
INTEREST
The Borrower or/and Co-Borrower shall pay interest on the principal amount of the Facility outstanding from time to time at the Rate of Interest mentioned in Schedule 1 to this Agreement.
The Rate of Interest on the Facility shall be specified in Schedule 1 and in the Sanction Letter issued by the "E.M.A.L" to the Borrower. However the "E.M.A.L" in its sole discretion would be entitled to modify and vary the said Rate of Interest from time to time on account of changes in interest rates stipulated by Reserve Bank of India/ bankers of the "E.M.A.L". Such variation(s) would be subject to the terms of sanction letter and would be intimated to the Borrower or/and Co-Borrower and binding upon the Borrower.
On delay in the repayment of interest and/or any other repayment by the Borrower or/and Co-Borrower beyond such repayment due date, the "E.M.A.L" shall be entitled to charge an additional interest as mentioned in the schedule or such other rate as may be specified by the "E.M.A.L" from time to time on the entire such outstanding amount, whether of loan, interest or any other charges payable hereunder. The aforementioned charge would not affect the obligation of strict compliance with the repayment schedule. The parties hereto expressly agree that time is the essence of the contract.
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
The instalments comprise of principal and interest calculated on the basis of reducing balance of principal at the rate applicable and is rounded off to the next rupee.
Interest and any other charges shall be computed on the basis of year of three hundred and sixty (360) daysor three hundred and sixty five (365) days, as the case maybe. The payment schedule of the instalments in respect of the loan is given in the schedule below.
Without prejudice to the "E.M.A.L"'s rights, interest aforesaid and the other amounts payable by the Borrower or/and Co-Borrower be charged/debited to the borrower's account and shall be deemed to form part of the Outstanding Amounts.
All payment to be made by the Borrower or/and Co-Borrower to the "E.M.A.L" under the terms of this Agreement shall be made by Cheque/Demand Drafts/ Bankers Cheque duly crossed and marked "A/e Payee Only" and the collection charges, if any, in respect of all such instruments will begin to accrue in favour of the "E.M.A.L" as and from the date of issuance of the above instruments irrespective of the time for transit/collection/realization/ of the cheque by the Borrower or/and Co-Borrower or his "E.M.A.L". The Borrower or/and Co-Borrower agrees to replace the cheques/issue fresh cheques if required by the "E.M.A.L".
Any dishonoring of cheque/revoke the, would make the Borrower or/and Co-Borrower liable to a flat charge and in case of dishonoring/non payment on the second presentation, Cheque Bouncing Charges as stated in the Schedule would be levied. The levy of charge upon dishonoring/non-payment of the cheque/revoke of SIVECS instruction is without prejudice to the right of "E.M.A.L" under section 138 of Chapter XVII of the Negotiable Instruments Act, 1881 or any other rights and remedies in law. The Borrower or/and Co-Borrower shall pay onetime upfront fees towards services to be rendered by the "E.M.A.L". The upfront fees for service rendered are described in schedule of this Agreement.
The "E.M.A.L" shall furnish a statement of account on or by the 31st March each year, or at the beginning of Loan Agreement stating there in the amount due, the interest charged etc. Any such statement of account furnished by the "E.M.A.L" shall be accepted by and be binding on the Borrower or/and Co-Borrower and/or Co-Borrower or/and Co-Borrower and shall be conclusive proof of the correctness of the amount mentioned therein. Without prejudice to what is stated above, if the Borrower or/and Co-Borrower desires to question any statement or any part thereof or any matter connected there with the Borrower or/and Co- Borrower and shall inform the "E.M.A.L" with full details of the same within 15 days of the receipt of the statement by the Borrower or/and Co-Borrower and the shall not be entitled to do thereafter on any ground whatsoever.
Any dispute being raised about the amount or interest computation or any amount under the Agreement will not enable the Borrower or/and Co-Borrower to withhold payment of any instalment.
The charges mentioned in the Schedule of this Agreement are subject to change at the sole discretion of the "E.M.A.L".
PAYMENT OF OTHER EXPENSES
The Borrower undertake to pay forthwith on demand to the Lender all costs and expenses (including legal costs between legal counsel and clients) on a full indemnity basis incurred and or to be incurred by the "E.M.A.L" for investigation/ inspection of Vehicle offered as security and for the preparation, execution, preservation, performance, enforcement and realisation of the outstanding Loan amount, security documents and other instruments creating and/or evidencing the creation of any security for the Loan as also any other instrument required connection with the Loan.
AMORTISATION
The Borrower shall amortise the Loan, if not demanded earlier by the "E.M.A.L" as stipulated in and in accordance with and subject to the terms & conditions of the Repayment Schedule hereto. However, in the event of delay or advancement, for any reason whatsoever, in providing the Loan amount, the date of commencement of repayment shall be preponed/postponed with such number of delay or advancement of Loan amount. The repayment shall comprise of the Principal and interest calculated as per this Agreement.
REPAYMENT
The Borrower shall repay the Loan and pay the interest that is due from time to time by way of Monthly instalment as specified in the Schedule or as may be specified by the "E.M.A.L" from time to time (time being the essence of the contract). The Borrower shall has perused, understood and agreed to "E.M.A.L"'s method of calculating the Monthly instalments as also the appropriation thereof into principal and interest. If for any reason the amount finally disbursed by the "E.M.A.L" is less than the amount sanctioned, the Monthly instalments shall stand reduced proportionately but shall be payable on the same dates as specified in the Schedule.
Notwithstanding what is stated in sub-clause above and in Schedule hereto, the "E.M.A.L" shall have the right at any time or from time to time to review and reschedule the Repayment terms of the Loan of the outstanding amount thereof in such manner and to such extent as the "E.M.A.L" may in its sole discretion decide. In such an event (s) the Borrower shall repay the Loan or the outstanding amount thereof as per the
revised Schedule as may be determined by the "E.M.A.L" in its sole discretion and communicated to the Borrower by the "E.M.A.L" in writing.
In case if any amount is prepaid by the Borrower, the same shall be adjusted first towards the incidental charges, additional interest, EMI outstanding and balance towards the principal amount of the Loan.
The Borrower shall pay onetime upfront fees towards services to be rendered by the "E.M.A.L". The upfront fees for service rendered are described in schedule of this Agreement.
Any dispute being raised about the amount or interest computation or any amount under the Agreement will not enable the Borrower to withhold payment of any instalment.
The loan amount, interest and other charges thereon shall be repaid by the Borrower in instalment as per the repayment schedule specified hereunder. Notwithstanding the same, the "E.M.A.L" may at any time, without the provision of any reason therefore, require repayment of the loan amount, interest and other charges thereon forthwith on demand and may appropriate all the amounts available with the "E.M.A.L" towards these amounts, interest and other computation/fixation of installments shall be without prejudice to the right of the delivery of the Asset/s. The repayment shall commence as per the repayment scheme irrespective of the delivery of the Asset/s. strict compliance with the repayment scheme is an essential condition for the grant of the loan. The Borrower shall repay the loan, interest and other charges by way of instalments, the number of which is mentioned in the Schedule hereunder written and of amount(s) also mentioned in the Schedule. Out of these instalment, the number of installments as mentioned in the Schedule hereunder written are payable prior to the disbursal of the Loan ("Advance EMI/Instalment"), The balance number of instalments mentioned in the Schedule are each payable at the period or as specified in the Schedule hereunder written by delivering to the "E.M.A.L", the cheques, in advance, duly signed. The first of the balance instalments shall be due the date mentioned in the schedule, or after such other period as specified by the "E.M.A.L" from time to time. The number of cheque and the amounts of instalment are as mentioned in this schedule with date corresponding with the day when each of the above installment is payable is in favour of the "E.M.A.L" (the said checks are hereinafter referred to as post dated repayment cheques)
No notice, reminder or intimation shall be given by the "E.M.A.L" of the Borrower prior to the present of any the Post Dated Repayment Cheques and Insurance Premium Cheques to the respective drawee banks for encashment thereof.
Each of the above Post-Dated Repayment Cheque shall be deemed to have been drawn on the date which shall appear on each of such cheques. Such PDCs shall be drawn from a scheduled "E.M.A.L" situated in atown or city where such lending office of the "E.M.A.L" is located.
The "E.M.A.L" shall furnish a statement of account on or by the 31st March each year, or at the beginning o Loan Agreement stating there in the amount due, the interest charged etc. Any such statement of accoun furnished by the "E.M.A.L" shall be accepted by and be binding on the Borrower and shall be conclusive proof of the correctness of the amount mentioned therein. Without prejudice to what is stated above, if the Borrower desires to question any statement or any part thereof or any matter connected there with the Borrower and shall inform the "E.M.A.L" with full details of the same within 15 days of the receipt of the statement by the Borrower and the shall not be entitled to do thereafter on any ground whatsoever. In case of any statement or Duplicate Document specially required by the Borrower, the "E.M.A.L" shall charge an stated in the Schedule.
If the debt fell due on a day which is a holiday, the payment is to be made on the immediate preceding working day.
The charging of additional interest shall however not relieve the Borrower obligation of strict compliance with repayment schedule being an essential condition for grant of Loan.
PRE-PAYMENT OF THE LOAN
The Borrower may, prepay the whole or any part (at the discretion of the "E.M.A.L") of the outstanding loan (including, interest, fees and charges here in) by giving notice in writing to that effect. The Borrower would have to give minimum written notice of 30 days expressing his intention to prepay the loan amount. In such an event the "E.M.A.L" will be entitled to charge Prepayment Charges as mentioned in the Schedule on the principal outstanding or any other rate which is applicable at such time as per the "E.M.A.L" policy on the Principal outstanding. Prepayment will be applied to instalment in inverse order of maturity. The interest and any other charges etc. would be leviable till the end of the months in which prepayment notice expire and the interest has been computed as per this Agreement. The prepayment shall take effect only when cash has been paid or cheques have been cleared.
The Borrower shall be entitled to pay any repayment instalment in advance, however the "E.M.A.L" shall not be liable to pay any interest on any such repayment instalment paid in advance nor such advance repayment instalment shall reduce the interest charged on the Loan,
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
Mode Of Payment of Installments-All payment to be made by the "E.M.A.L" to the Borrower under or in terms of this Agreement shall be made by Cheque/Demand Drafts/ Bankers Cheque duly crossed and marked "A/c Payee Only" and the collection charges, if any, in respect of all such instruments will begin to accrue in favour of the "E.M.A.L" as and from the date of issuance of the above instruments irrespective of the time for transit/collection/realization/ of the cheque by the Borrower or his "E.M.A.L". The Borrower agrees to replace the cheques/issue fresh cheques if required by the "E.M.A.L". The mode of payment shall also include payments through digital real time payment systems in use in India like Unified Payments Interface (UPI).
No notice, reminders or intimation in any manner, shall be given by the "E.M.A.L" to the Borrower regarding its obligation and responsibility to ensure prompt and regular payment of the Outstanding amount to the "E.M.A.L" on due dates. It shall be entirely the Borrower's responsibility to ensure prompt and regular payment of the Outstanding amount including and not limited to EMI and/or PEMII payable by the Borrower to the "E.M.A.L" as and when due and in manner provided herein.
The Borrower shall also pay the PEMII to the "E.M.A.L" until commencement of EMI.
Borrower shall agrees that Repayment of the Loan amount together with interest, additional interest and all such other charges due and payable by the Borrower to the "E.M.A.L" shall be payable by the "E.M.A.L" at the place where the branch of the "E.M.A.L" is situated or such other place notified by the "E.M.A.L" to the Borrower by any of the following modes:
Post dated cheques (PDC's).
ECS mandate(s)/NACH (National Automated Clearing House).,
Deduction from the Borrowers salary (salary debit method).
Demand Draft/Cash.
NEFT
RTGS
Any other mode/method as may be notified/prescribed by the "E.M.A.L" to the Borrower
Standing Instruction by the Borrower.
In the event of any variation in the date of payment of EMIs or the amount of Interest, principal or EMIs, the numbers thereof, the Borrower agrees and undertake to forthwith issued fresh PDC/ECSS/SI/NEFT/RTGS instruction to the "E.M.A.L" as may be required by the "E.M.A.L".
Any dishonouring of cheque/revoke the SI/EC Instruction, would make the Borrower liable to a flat charge and in case of dishonouring/non payment on the second presentation, Cheque Bouncing Charges as stated in the Schedule would be levied. The levy of charge upon dishonouring/non payment of the cheque/revoke of SI/ECS instruction is without prejudice to the right of "E.M.A.L" under section 138 of Chapter XVII of the Negotiable Instruments Act, 1881 or any other rights and remedies in law.
The "E.M.A.L" may at its absolute discretion on encasement of any or more of the Post-Dated Cheques, pay insurance premium or part thereof or any fees or charges payable by the Borrower herein without adjusting the proceeds of such cheques (as the case may be towards any installment or installments).
If any, more than one oral the Post-Dated Cheques delivered to the "E.M.A.L" by the borrower pursuant to the terms of sub-clause 3.1 or to be delivered in terms of sub clause:
is lost, destroyed or misplaced while in custody of the "E.M.A.L"; or
becomes non-encashable due to death, insolvency, lunacy, termination of authority or otherwise of the signatory thereof or liquidation or any moratorium of the drawee bank, then in that event the Borrower shall, with three working days of receipt of any intimation of such loss, destruction or misplacement (as the case maybe) from the "E.M.A.L" orimmediately on the said cheques or any of those being non encashable due to the reasons mentioned in (ii) above, deliver to the "E.M.A.L" such number of cheques (those that have been lost, destroyed, misplaced or become non encashable) drawn in the manner mentioned in Sub-Clause. Any non-presentation on the "E.M.A.L" due to any reason whatsoever will not affect the liability of the Borrowerto repay the loan and/or any other amount under this Agreement.
The Borrower shall not give any instructions to the "E.M.A.L" not to deposit the cheque given by it or to dose the accountor cease to operate the account in relation to which the post dated cheques have been issued in case it does so it may be presumed that the same has been done to avoid prosecution under the Negotiable Instruments Act 1881.
Any dishonour of the cheque/revoke of SI/ECS instruction shall give presumption that from the very inception the Borrower had no intention to honour the cheque SIESS instruction and the cheques SIECS instruction had been given to obtain the loan and shall be liable to be prosecuted under the provisions of the Negotiable instrument Act read with the Indian Penal Code any/or any law applicable to such dishonour for the time being in force.
Upon execution of this Agreement the Borrower/Guarantor(s) shall execute a Promissory Note of the value of the total Loan amount less the Advance installment. It is expressly clarified that such Promissory Note shall be by way of collection of security and shall not be deemed to be conditional payment of the Loan.
In the event of cancellation of the loan agreement before the delivery of the Asset/s, the customer is liable to pay the Loan Cancellation/Rebooking charges as stated in the schedule in addition to other charges as expressed in this agreement.
The Borrower confirms having perused, understood and agreed to the "E.M.A.L" method of calculating instalments and agrees/ undertakes to abide by the same without any demur or objection. The Borrower shall make payment of all amounts payable under this Agreement without any set off.
COVENANTS FOR PRICE OF THE ASSET
The Borrower and guarantor hereto confirm that the Asset Price has been arrived at after taking into account all relevant taxes, duties and levies applicable as on the date of this Agreement. The Borrower agrees that the installment shall beincreased by any fresh imposition or increase in Asset Price, Taxes, duties, levies become payable by the "E.M.A.L" by virtue of entering into this Agreement In the event of such taxes, duties, levies and charges increasing during the period of the placing of the order of the Asset and its acceptance and eventual delivery to the Borrower, such increases shall be borne and paid by the Borrower.
If the price of the Asset (in case of acquiring a new Asset) is revisedup wards after the date hereof, then and in that event the Borrower shall pay all of the amount (in addition to the amount paid or to be paid by him/it along with the loan as the price of the Asset) that may be required for acquiring the Asset at such revised price and the "E.M.A.L" shall not be liable to pay the amount by way of loan or otherwise for such revision in price of the asset.
If the Borrower fails to pay the amount as mentioned in Sub-cause 5.2 within fifteen days of revision of the price of the Asset or within the period allowed for this purpose by the manufacturer of dealer of the Asset, which is earlier, then and in that event the "E.M.A.L" may at its discretion as agent of the Borrower cancel, annul or rescind the book of the Asset and collect the refund of booking price (after such deductions as may be made by the manufacturer of the Asset or its dealer) for adjustment thereof against any amount that may be due and payable the Borrower to it in terms hereof.
The Borrower for the purpose of clause 5.3 hereby irrevocable authorized the "E.M.A.L" to cancel, annual or rescind any booking of the Asset and to receive any refund of booking price or the Asset from the manufacturer or its dealer.
SECURITY
In consideration of the "E.M.A.L" having granted or agreed to grant to the Borrower the Loan subject to the terms and conditions mentioned herein, the Borrower hereby hypothecates and charges in favour of the "E.M.A.L" by way of first and exclusive charge on the Vehicle/Assets as described in the Schedule hereunder including the assets of the borrower given as security. The Borrower confirms that the Asset(s) carries no prior lien and it is free from any encumbrances. In case of Vehicle(s), to have hypothecated in the "E.M.A.L"'s favour endorsed on the registration certificate from the concerned regulatory authority under Motor Vehicle Act.
Provided that if the Vehicle/Asset (to be acquired) has not been delivered to and/or registered (wherever applicable) in the name of the Borrower at the time of signing of this Agreement, the particulars of the Vehicle/Asset shall be informed in writing by the Borrower or direct the dealer to supply the same within two days of such delivery and/or registration, whereupon such writing shall form part of the schedule and this Agreement hereof and failure to so inform the "E.M.A.L" shall constitute an Event of Default,
The hypothecation of the Vehicle(s)/Asset shall be deem to take place immediately on the signing of this Agreement or delivery of the Vehicle(s)/Asset whichever is earlier. The "E.M.A.L" is not responsible for delivery of duly endorsed Registration Certificate and that the Borrower shall not withhold payment of stipulated installments on the pretext that Registration Certificate has not been delivered.
The Borrower and/or the Guarantor(s) hereby expressly and irrevocably agree that they shall be estopped in law from taking the plea that or the date the loan Agreement was signed the exact details of the Asset were not available.
The Borrower undertakes to get the endorsement to hypothecation done in the registration certificate from the concerned Registration Authority (wherever applicable). The endorsement shall be made in the name of Easy Money Auto Loan, The Borrower(s) where the Borrower(s) or any of them is a "E.M.A.L" undertakes to get the charge registered with the relevant Registrar of Companies (ROC) in a manner acceptable to the "E.M.A.L".
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
The charge created by the Borrower in clause 6.1 above shall stand as security for the due repayment and payment by the Borrower of the loan granted or to be granted to the Borrower by the "E.M.A.L" and of all fees, interest costs and expenses incurred or to be incurred by the "E.M.A.L" hereunder and all other monies payable or which become payable by the Borrower to the "E.M.A.L" pursuant to the terms hereof. The charge herein created by the Borrower under this Agreement shall continue and remain in force till such time all the dues under this Agreement and also in respect of the Loans/ facilities obtained to be obtained by the Borrower(s) from the "E.M.A.L" are fully discharged to the satisfaction of the "E.M.A.L" and the "E.M.A.L" shall issue a certificate discharging the security created herein.
Until realisation of the Asset/Vehicle(s) from the "E.M.A.L" in writing, the Borrower shall not sell, transfer or create any charge, mortgage, pledge, lien or encumbrances over the Asset/Vehicle(s) or any part thereof in any manner whatsoever without prior approval of the "E.M.A.L". The Borrower shall not part with the possession, give on hire, lease, leave and license or otherwise deal with the Asset/Vehicle(s) or any part thereof and shall not permit or suffer to be done any act, deed, matter or thing which may be adversely affect or in any way prejudice the rights and interest of the "E.M.A.L" over the Asset/Vehicle(s).
The hypothecation shall not be effected, impaired or discharged by death, insolvency, arrangement with the Creditors, physical or mental disability, winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationsalisation (as the case may be) in the status of the Borrower.
The Guarantor hereby unconditionally guarantees the due and prompt repayment of all and every sum payable by the Borrower under this Agreement and guarante the due performance and observance by the Borrower of all the Stipulation and conditions mentioned in this Agreement. The Guarantor agrees that he shall not be discharged from the guarantee hereby provided, by the "E.M.A.L" giving time to the Borrower for payment of any sum or any other indulgence or the failure, omission or inability of the "E.M.A.L" to enforce its rights against the hypothecated asset. The Guarantor hereby agrees that as between the "E.M.A.L" and himself, the Guarantor is the principal debtor jointly with the Borrower and hence give up any right conferred on sureties under Section 133, 134, 139 and 141 of the Indian Contract Act, 1872 or any other provisions thereof. The "E.M.A.L" has right to proceed against the Borrower/Guarantor in any order at its discretion and the Guarantor hereby agrees that he shall not question the claim made by the "E.M.A.L" on any grounds.
The "E.M.A.L" may, at any time, require the Borrower to furnish such additional securities, including Guarantee from any third party as the "E.M.A.L" may deem fit in its sole discretion. In such an event the Borrower shall provide additional security and in this regard execute such agreements, undertaking, documents etc. till all the amount due and payable by the Borrower to the "E.M.A.L" under this Agreement is completely paid and the Borrower undertakes to furnish the same to the "E.M.A.L" within 7 days of receipt of such request from the "E.M.A.L".
The Borrower, at its own cost, shall have executed all sucof title documents, and (vii) taking all actions necessary to ensure that all the Asset(s) acquired by the Borrower in connection with the Loan are subject to a valid and enforceable, perfected first priority lien in favour of the "E.M.A.L" within 30 (Thirty) days after the acquisition of such Asset(s).
The Borrower and/or the Guarantor(s) hereby expressly and irrevocably agree that the financed livestock will carry and bear the tag provided by the "E.M.A.L" or insurance "E.M.A.L".
The security for the loan by mortgage of the property and the borrower agrees and undertake that the principle sum of the loan, interest, commitment and charges and any other dues under this agreement shall be secured by a first mortgage of the property described in the schedule hereto and charged in favour of the "E.M.A.L" and same will be up to the satisfaction of the "E.M.A.L".
The borrower shall give a declaration to the effect that the borrower or mortgager or hypothecator or assignee or endorsee or pledge as the case may be has a clear and marketable title to the mortgaged property offered as primary/collateralsecurity which is free from all reasonable doubts and encumbrance and that the borrower indemnifies and keep the "E.M.A.L" saved and harmless against any risk whatsoever.
Execute a money bond/demand promissory note in favour of the "E.M.A.L" for the amount of the loan thereby undertaking to repay the loan Execute a power of attorney in favour of the "E.M.A.L" in the form described by the "E.M.A.L".
Obtain such approval/permission/consent no objection certificate as maybe necessary from the concerned authorities.
In the event of enforcement of the Security, the "E.M.A.L" shall not be liable for any loss or deficiency in the amount realized or answerable for any decrease in the value of the Security. Such sale shall be done by the "E.M.A.L" without any accountability to the Borrower and "E.M.A.L" shall not be liable for loss/damage/diminution in value of the security on account of exercise of rights/non exercise of rights by the "E.M.A.L" and the Borrower shall not be entitled to raise any claim against the "E.M.A.L" on the ground that a larger sum or amount might or ought to have been received or dispute his liability for the remaining dues under this Agreement.
Any accretion, entitlements and all documents in respect of the security or the hypothecated asset in possession of the Borrower shall be held by the Borrower in trust and for behalf of the "E.M.A.L".
Where Borrower is a "E.M.A.L", the Borrower as well as Guarantor agree and undertake that notwithstanding the hypothecation the Borrower will file Form CHG-1 with the Registrar of Companies for creating charge over the Asset(s).
REPRESENTATIONS BY THE BORROWER AND THE GUARANTOR(S)
The Borrower and the Guarantor(s)jointly and severally represent that:
(in case of it being a corporation) is a Corporation duly incorporated or constituted and existing under the laws of India with power to enter into this Agreement and each of the documents to which it is or will be a party, and all corporate and other actions have been duly taken which are required to betaken by any person to authorize the execution by the Borrower and the Guarantor(s) of this Agreement and of each Collated Document the performance by it or of obligations herein and under each collateral Document
(in case of it being a society) is a society duly incorporated or constituted and existing under the laws of the State of Rajasthan and India with power to enter into this Agreement and each of the documents to which it is or will a party; and
The Borrower represents that no encumbrance of any nature nor any lien exists over the Asset hypothecated here in; and it/ he has obtained and done all that is necessary to give full force and effect to all authorization, approvals consents licenses and permission required in or by the laws of India in relation to this Agreement, Collateral Documents and the Hypothecated Asset, and; he/it is aware that the dishonour of any instrument read with section 138 of the Negotiable Instruments Act, 1881.
The Borrower represents that the amount of loan sanctioned by the "E.M.A.L" shall not be used for any purpose other than that mentioned in Schedule 1.
The Borrower represents that the loan amount sanctioned to it by the Lender shall not be used for any illegal acts such as gambling/lottery/share purchase/racing/wagering contracts or for any other purpose which is considered as unlawful in India.
The loan amount may be disbursed by the "E.M.A.L" directly to the dealer in the case of purchase of a new Asset/s and such disbursement shall bedeemed to be disbursement to the Borrower.
In case of refinance on an old asset/ purchase of an old Asset, the amount may be disbursed by the "E.M.A.L" to the owner/seller of the Asset or to the Dealer and such disbursement shall be deemed tobe disbursement to the Borrower.
The Borrower expressly recognizes and accepts that the "E.M.A.L" shall, without prejudice to its right to perform such activities itself or through its officer or servants, be absolutely entitled and have full power and authority to appoint one or more third parties of the Companies choice and to transfer and delegate to such third parties the right and authority to collect on behalf of the "E.M.A.L" all amounts hereunder and to perform execute all acts, deeds, matters and things connected therewith or incidental thereto including sending notices of demand, attending the residence or office of the Borrower or otherwise contacting the Borrower, receiving the installments in Cash/draft/cheque whether in the name of the "E.M.A.L" or in its own name from the Borrower, entering into a compromise with the Borrower, giving a valid receipt and granting effectual discharge to the Borrower and generally performing all lawful acts as the third parties may consider appropriate for the purpose. For the purpose aforesaid or for any other purpose at the discretion of the "E.M.A.L", the "E.M.A.L" shall be entitled to disclose to such third parties ll necessary or relevant information pertaining to the Borrowers and the Loan and the Borrowers hereby consent to such disclosure by the "E.M.A.L". Notwithstanding the above, the Borrowers expressly accept and authorize the "E.M.A.L" (and/or any such third party information pertaining to the Borrowers and the Loan and the Borrowers hereby consent suchdis closure by the "E.M.A.L" (any or any such third party "E.M.A.L" may select).
The Borrower agrees hereby to pay the installments and other dues etc. to the "E.M.A.L" under this Agreement for the aforesaid Asset irrespective of whether or not the Asset is in use by the Borrower and/or even if the Asset is not in use due to damage and repair.
In case the loan is taken jointly by more than one Borrower, their liability shall be joint and several, even if the vehicle/equipment is registered in the name of one of the Borrowers or possession of the live stock is with one or other of the borrower.
The Borrower should ensure that asset is a vehicle, that is shall be used in compliance with the Motor Vehicle Act or rules framed and as per the land of the land.
The Borrower ensures that the Borrower shall keep the vehicle insured during the tenure of the loan facility or during the repayment of the entire amount of loan facility, whichever is earlier.
The Borrower ensures that the Borrower shall make available the vehicle/asset for inspection by the Lender as and when demanded by the Lender from time to time.
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
No Corporate actions, legal proceeding or other proceeding or step described in 15 or any other creditors
INDEMNITY
The Borrower shall indemnify the "E.M.A.L" and keep indemnified the "E.M.A.L" save and harmless on demand in respect of any action, claims costs, damages, demands, expenses, losses and liabilities made against suffered or incurred by the "E.M.A.L" arising directly or indirectly from or in connection with.
any failure by the Borrower and/or the Guarantor(s) to "E.M.A.L" with the provision of this Agreement and/or any liability including third party liability that may arise out of the possession, operation and use of the Asset by the Borrower or by its employees or by its Agents or by other persons whosoever whether or not authorized by the Borrower for use of the said Asset and incidental to that purpose and/or
any failure by the Borrower and/or the Guarantor(s) to "E.M.A.L" with the provision of this Agreement and/or any liability including third party liability that may arise out of the possession, operation and use of the Asset by the Borrower or by its employees or by its Agents or by other persons whosoever whether or not authorized by the Borrower for use of the said Asset and incidental to that purpose and/or
any failure by the Borrower and/or the Guarantor(s) to "E.M.A.L" with the provision of this Agreement and/or any liability including third party liability that may arise out of the possession, operation and use of the Asset by the Borrower or by its employees or by its Agents or by other persons whosoever whether or not authorized by the Borrower for use of the said Asset and incidental to that purpose and/or
any failure by the Borrower and/or the Guarantor(s) to "E.M.A.L" with the provision of this Agreement and/orany liability including third party liability that may arise out of the possession, operation and use of the Asset by the Borrower or by its employees or by its Agents or by other persons whosoever whether or not authorized by the Borrower for use of the said Asset and incidental to that purpose and/or
any claims, losses, demands actions, costs, expenses and liabilities incurred or suffered by the "E.M.A.L" by reason of the representations and warranties given by the Borrower and/or the Guarantor(s) being false or untrue in material respect and/or claims, losses, demands, actions, costs, expenses and liabilities incurred or suffered by the "E.M.A.L" by reason of the hypothecated Asset not being free from encumbrance and/or any previous charge.
any claims, losses due to death or illness of live stock, medical expenses of illness or epidemic loss, etc. The Borrower shall keep the "E.M.A.L" informed of all development regarding such actions, claims, costs, damages, expenses, losses and liabilities and shall not dispute, compromise or otherwise deal with the same subject to the consent given by the "E.M.A.L". The "E.M.A.L" shall however be under no obligation and/or liability to the Borrower to provide any assistance in connection with any such claim that the Borrower may require.
any claims, losses due to death or cause to death because of use of any direct or indirect product from the vestock.
my claims, losses due to transport of agri machineries, vehicle, equipment from the agriculture field and Osses thereby to the crops to any party connected herewith or not.
FENERAL CONVENANTS OF UNDERTAKING AND WARRANTIES
he Borrower shall:
Stain and do all that is necessary to maintain in full force and effect all authorizations, approvals, nsents, insurances, licenses, Permissions, and renewals required in or by the laws of India in relation to is Agreement, each of the Collateral Document and the performance of obligations here under and there der and the Asset;
get t the Asset (in case of acquiring a new Asset) registered with the appropriate Registering Authority herever applicable) under the Motor Vehicles Act, 1988;in Form the "E.M.A.L" in writing of any theft or damage of the Asset, death oraccidental death lodging ofany im whatever with any insurance "E.M.A.L" in respect of the Asset and such writing shall be delivered to mpany within the three working days of such damage or lodgement of claim;
InForm the "E.M.A.L" of any loss, deInform the Comp claim whatever with any insurance "E.M.A.L" in respect "E.M.A.L" within the three working days of such damage or lodgement of claim,
inform the "E.M.A.L" of any loss, destruction or misplacement of the Registration Certificate of the Asset or the Insurance Policy relating to the Asset within three working days of such loss, destruction or misplacement; not apply for any duplicate Registration Certificate for the Asset otherwise than by delivering the application thereof the "E.M.A.L" for endorsing its charge on the Asset; and not transfer the registration of the Asset to any city or town other than the City of Registration.
not part with possession of the live stock to anybody with the view to handover with ownership and accordingly sale of the same.
indemnify and keep indemnified the "E.M.A.L" against any loss or damage to the Asset or any part thereof from whatever cause whether or not such damage is as a consequence of the negligence of the Borrower.
The Borrower warrants that he/she/it/they shall have and maintain sufficient balance in the account of the drawee "E.M.A.L" of payment of Post-Dated Cheques/SVECS Instruction on the day when any installment herein becomes payable and for 45 days thereafter to honour any Post-Dated Cheque.
The Borrower(s) shall not close any such account without the prior consent of the "E.M.A.L".
The Borrower hereby warrants and undertakes that he has paid all public demands and all taxes and revenues payable tote Government of India or to the Government of any State or to a local authority and that at present there are no-arrears of such taxes and revenues due and outstanding.
It shall be the Borrower's obligation to keep him acquainted with the rules of the "E.M.A.L", from time to time.
The financial statements of the Borrower deliver to the "E.M.A.L" shall be true and fair in all aspects.
CONVENANTS FOR HYPOTHECATED ASSET
The Borrower hereby expressly and irrevocably agrees to the covenants that during the period of this Agreement, the Borrower shall:
keep the Hypothecated Asset specifically appropriated to the security herein,
pay all rates, assessments taxes, and other outgoings which are no or here after may be assessed, imposed or payable for the Hypothecated Asset by the Govemment, Municipal Corporation, Registration Authority or other authority and on demand produce to the "E.M.A.L" every receipt there of, charges, taxes, assessments or other outgoings
Allow inspection of the Hypothecated Asset and all documents relating thereto for verification thereofor making valuation by (a) the "E.M.A.L" (b)its officers, auditors, technical experts, management consultants, valuers or any other persons authorised for the purpose by the "E.M.A.L".
Not sell, encumber, transfer or otherwise dispose of or suffer or allow to suffer any attachment (including installation of (LPG/CNG Kit) or distress to the Hypothecated Asset or any parts thereof or allow anything that mayprejudice or endanger the security herein without the express consent in writing of the "E.M.A.L". The Borrower undertakes together registration certificate endorsed in the name of the "E.M.A.L" (if applicable under Motor Vehicles Act), to further express the fact that the Asset stands hypothecated to the "E.M.A.L" Any direct or indirect transfer of the Asset would be deemed to be criminal breach of trust and a case of cheating entitling the "E.M.A.L" to file/pursue FIR ora Criminal complaint compliant against the Borrower and Guarantor(s) without prejudice to the Companies other right and remedies in law. The said hypothecated Assets are in the custody of the Borrower in their capacity as bailees.
On demand being made by the "E.M.A.L" or without demand, if any of the events mentioned in clause arise:-
to give immediate actual possession of the "E.M.A.L", its nominees or agents(as the case may be) of Hypothecated Asset;
to transfer, deliver and endorse all registrations, policies, certificates and documents relating to the Hypothecated Asset to the "E.M.A.L", its nominees or agents (as the case may be); and
do and execute or cause to be done and executedat the costs and expenses of the Borrower, all such acts, deeds, assurances, matters, and things as may be required by the "E.M.A.L" for further assuring and confirming the security created herein and the rights, power and remedies hereby conferred.
sign and deliver the necessary forms that may be required to be filed with the Registering Authority or other authorities under the Motor Vehicles Actor any other law for the time being in force to record the charge of hypothecation on the said Asset, created or to be created in favour of the "E.M.A.L",
Submit to the "E.M.A.L" a certified true copy of the registration certificate relevant to the Asset for which the loan has been taken. This registration certificate will be submitted within 60 days of having taken delivery of the Asset or 150 days from the date of disbursal of the loan, whichever is earlier. Punctually pay all the sums stated elsewhere this Agreements.
Punctually pay all sums stated elsewhere in this Agreement.
INSURANCE AND MAINTENANCE
The Borrower shall at its own expenses during the continuance of the security herein keep the Hypothecated Asset covered under comprehensive risks, including riot, civil commotion risks, fire, unlimited third party risk and other hazards stipulated from time to time and live stock will also insured for its life and health with such insurance "E.M.A.L" as may be required by the "E.M.A.L" by timely payment of all premia in respect of such insurance and produce and deliver (it so required by the "E.M.A.L")any insurance policy, cover note or receipt on demand by the "E.M.A.L" for its inspection and verification.
The borrower hereby expressly agrees to pay advance premium against Insurance Policy along with his/her loan EMI's and the "E.M.A.L" shall beentitled
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
to credit the amount of advance premium for insurance policy, soreceived with the amount of loan EMI, to the account of the borrower which shall be debited to the said account of the borrower at the time of renewal of the insurance policy.
The borrower hereby agrees that he/she shall avail an Insurance policy through "E.M.A.L"'s service to secure the Hypothecated Assets so purchased by the Borrower against the loan so given to him/her by the "E.M.A.L".
The "E.M.A.L" shall collect advance premium from the borrower based upon prevailing market insurance premium rates, which may vary at the time of renewal as per the norms and guidelines issued by the insurance "E.M.A.L"(ies).
The borrower hereby agrees that he/she will pay the difference amount, if any, at the time of renewal, failing which the "E.M.A.L" shall be entitle to charge late payment charges as per the schedule of this agreement.
The borrower also, expressly agrees that, in the event of default, when the borrower fails to pay his/her EMI's for more than 90 days, the "E.M.A.L" shall be under no obligation to renew the insurance policy so taken up by the Borrower and the amount of advance premium so deposited by the borrower with the "E.M.A.L" shall be forfeited at the sole discretion of the "E.M.A.L".
The insurance policy to be taken out hereunder shall be in the name of the Borrower and the "E.M.A.L" shall be described as loss payee under such insurance.
The Borrower agrees and undertakes to keep and maintain in good and marketable condition the said Asset at its own expenses and replace all such parts whether broken or damaged, as is the normal practice adopted for the maintenance of any Asset. The Borrower expressly agrees to engage mechanics, dealer service facilities expressly authorized by the manufacturer of the Asset to effect repairs and to service the Asset
If the Borrower fails to comply with any of the terms mentioned above in this Clause, the "E.M.A.L" may without prejudice to its rights and remedies +under this Agreements and in law take such steps as it may deem fit to keep and maintain the Asset or insurance of renew such insurance at the Borrower's costs, charges and expenses which the Borrower on demand shall reimburse by the "E.M.A.L".
In order to safeguard the security for the loan and to ensure that the Companies lien is marked on the insurance, the "E.M.A.L" may get the insurance done on behalf of the Borrower, by being a facilitator and making the premium payment to the approved insurance "E.M.A.L" through the Borrower's post dated cheque pay order/any other payments instructions. However the "E.M.A.L" shall not be obliged to do the same and any non-payment on the part of the "E.M.A.L" due to any reason whatsoever shall not affect the liability of the Borrower to pay the necessary insurance premium and to keep the Asset(s) insured. The first claim on any insurance proceeds shall be that of the "E.M.A.L" with respect to insurance policy and its renewal as stipulated from time to time and shall pay Rs. 250/-or such otter amount as may be specified by the "E.M.A.L" from time to time as nominal compensation for the services rendered byte "E.M.A.L" for the facilitating the above mentioned arrangement with the insurance "E.M.A.L" and ensuring that the Companies name is marked under insurance. The transaction fee is subject to change at the discretion of the "E.M.A.L". The "E.M.A.L" shall be entitled to recover any payments made pursuant to this clause as part of the dues under this Agreement.
The "E.M.A.L" at its option shall be entitled to adjust, settle or compromise in any manner whatsoever at the Borrowers cost any dispute arising under or in connection with any such policy of insurance and Such Adjustment, settlement and compromises shall be valid and binding on the Borrower.
The "E.M.A.L" at its option will have the right to appropriate any monies receive from the insurance "E.M.A.L" towards the Borrowers obligations to the "E.M.A.L".
The Borrower accepts that the "E.M.A.L" shall not be liable for any loss on account of Non-Renewal of insurance of the Asset and/or delay/non payment by the insurance "E.M.A.L"/orany settlement claim by the Borrower.
The borrower shall at its own expenses take every step to keep good health of the livestock including vaccination, maintaining hygiene etc. Give good and healthy feed to the livestock and maintain proper and clean dwelling structure forte livestock and routine medical check up as per the terms and conditions of policy.
The borrower shall inform to the "E.M.A.L" and the insurance "E.M.A.L" about the death if any of the animal within the time prescribed by the insurance "E.M.A.L" and make arrangement for post mortem as per the terms and condition of policy and agreement.
Notwithstanding anything contained in the above clauses 11.1 to 11.15, the Borrower ensures that the Borrower shall keep the vehicle insured during the tenure of the loan facility or during the repayment of the entire amount of loan facility, whichever is earlier.
COVENANT TO PAY BY GUARANTOR(S)
In consideration of the "E.M.A.L" granting or continuing to make available the loan as it may think fit to the Borrower, the Guarantor(s) were there are more than one Guarantor(s) all of them jointly and severally, hereby irrevocably and unconditionally guarantee/s the full performance of this Agreement by the Borrower and in the event of any non-performance of the whole or any part of the Agreement and the liabilities whether actual or contingent now or any time hereafter due, owing and incurred to the "E.M.A.L" by the Borrower together with interest (as well as before any demand or Judgment) to date of payment at such rates and upon such terms and all fees, cost charges and expenses as may from time to time be payable by the Borrower in terms hereof.
The Guarantor(s) guarantees to the "E.M.A.L" is/are for the regular and punctual payment of all sums due under this Agreement and the due performance and observance by the Borrower of the terms and conditions of this Agreement.
CONTINUING GUARANTEE
The guarantee is a continuing security and shall continue notwithstanding:
the death, insolvency, lunacy, liquidation/dissolution (as the case may be) or any incapacity of the Borrower of Guarantor(s) or, (in case the Guarantor is more than one) anyone, more than one or all of them; or,
any change in the constitution of the Borrower of Guarantor(s) or in the name or style of the Borrower of Guarantor(s);
This guarantee shall be deemed to have been given separately for payment of each installment of the loan, interest thereon or any/all monies payable by the Borrower to the "E.M.A.L" in terms hereof and this guarantee shall not stand terminated or determined or extinguished merely for demand of any amount of any in full and the Guarantor(s) is discharged of the guarantee obligation herein.
The guarantee is in addition to and shall not merge with or otherwise prejudice or effect any other right, remedy, guarantee, indemnity or security and maybe enforced notwithstanding the same or any mortgage, charge, pledge, hypothecationorlien now or here after held by or available to the "E.M.A.L".
CROSS COLLATERALIZATION
Any security(ies) furnished by the Borrower, under any other agreement entered into or to be entered into with the "E.M.A.L", shall be deemed to be the security (ies) under this Agreement and shall not be discharged till such time all the loan(s) facility(ies) are fully discharged to the satisfaction of the "E.M.A.L". The Borrower expressly agrees and accepts that in the event of any default being committed by the Borrower
under any other agreement with the "E.M.A.L", under which the Borrower is enjoying financial/credit facility, such event, shall be considered as an event of default occurred under this Agreement and the "E.M.A.L", shall be absolutely entitled to exercise all or any of its rights under this Agreement including right to set off in respect of any amount standing to the credit of the Borrower in any/all of the loan/ facility(ies) availed/to be availed from the "E.M.A.L".
EVENTS OF DEFAULT
The Borrower and/or the Guarantor(s) expressly, irrevocably, jointly and severally agree with the "E.M.A.L" that in the event of:
The Borrower or the Guarantor(s) or any or more of them (in case of the Guarantor(s)being more than one person)fails to pay any sum due from it or him herein; or,
The Borrower or any of the Guarantor(s) fail/s to perform any obligation or commits any breach of any of the terms, representations, warranties, convenience and condition herein contained or has made any misrepresentations of the "E.M.A.L"; or
The Borrower or any of the Guarantor(s) (in case of either of them being a corporation or partnership firm) takes any action or other steps are taken or legal proceedings are started for winding-up dissolution or
reorganization or for the appointment of a receiver, trustee or similar officer on its assets particularly on the Hypothecated Asset; or,
The Borrower or the Guarantor(s) (in case of either of them being an individual and in case of the Guarantor(s), (if more than one, any of them) dies or takes any steps or any steps are taken with a view to his being made insolvent in any jurisdiction or with a view to the appointment of a receiver, trustee or similar officer of any of his assets; or
The borrower fails to pay any insurance premium for the Hypothecate Asset or cheque bounce charges in terms and conditions hereof; or,blo
The Hypothecated Asset is confiscated, attached, taken into custody by any authority or subject to any execution proceeding; or
The Hypothecated Assetis distrait, endangered or badly damaged due to accident or any other reason whatever causing the same to be a total loss in the opinion of the "E.M.A.L" bodily injury to any person due to any accident or otherwise; or
The Hypothecated live stock is expired, get illness, death due to an epidemic or any govt. action with the fear of getting spread of any contagious disease of killing the livestock.
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
The Borrower fails to pay any tax impose duty or other imposition or comply with any other formalities required for the Hypothecate Asset under law from time to time; or
The Hypothecated Asset is stolen of untraceable fora period of 30 days for any reason whatever, or
Any of the cheques delivered or to be delivered by the Borrower to the "E.M.A.L" in terms and conditions hereof is not encashed for any reason whatsoever on presentation; or,
any instructions given by the Borrower for stop payment of Post-Dated Cheques revoke SI/ECS Instruction, given as per clause 3, for any reason whatsoever. The Borrower fails to supply a certified true copy of the registration certification within the time frames specified in clause 5 & Clause 8.
The Hypothecate Asset being destroyed for any reason whatsoever. The Borrower failing to file the particulars of the Asset in the prescribed from of the Copy and as provided in the Schedule-to this Agreement; or,
Any information given by the Borrower and/or the Guarantor(s)in his loan application to the "E.M.A.L" for financial assistance is found to be misleading or incorrect in any material respect or any representation or any warranty referred in Clause 8 is found to be incorrect.
The borrower detaches himself from the society by ceasing to be part of the membership or by not supplying the full quantity of milk or any by products and Borrowers own and financed animals.
The borrower undertakes that he will maintain relation with the society in case he is member of the society and also undertake to sell all and full quantity of the products in any form to the said society only during the Loan period.
AMENDMENTS
Any variation or amendment of this Agreement (or of any of the documents referred to in it) is valid only if
it is in writing and signed by or on behalf of each Party,
ASSIGNMENT/TRANSFER
The Borrower shall not assign or transfer any of its rights and or obligations under this Agreement.
SUCCESSION
In case of the death of the Borrower or/and Co-Borrower or/and Co-Borrower, where the Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower is an individual, the legal representative shall do the following:
Replace the IRCs, insurance premia cheques, fees, charges and residual cheques signed by the deceased Borrower or/and Co-Borrower or/and Co-Borrower, in the same manner as provided in this Agreement as if he were the Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower in the first instance.
Execute a fresh Agreement, Powers of Attorney and such other documents as required by the "E.M.A.L". Provided that the "E.M.A.L" shall be entitled to exercise its sole discretion in determining whether or not to enter into an Agreement etc. with the legal representative and subject to the legal representative meeting the "E.M.A.L"'s credit criteria and other requirements from time to time. In case the legal representative does not or refuses to follow the above procedure or does not meet with the "E.M.A.L"'s credit and other requirements the "E.M.A.L" shall be entitled to, at sole discretion to initiate legal recourse for recovery of Facility.
The Borrowers or/and Co-Borrower or/and Co-Borrower and the Guarantors confirm that the "E.M.A.L" may for the purposes of credit reference checks, verification, assignment, etc. disclose any information/documents relating to the Borrowers and the Guarantors (pertaining to the Facility availed by the Borrower) to any third party appointed by it. The Borrowers and the Guarantors further authorize the "E.M.A.L" to disclose said information /documents to RBI, income tax authorities, credit bureau, third parties, credit rating agencies, databanks, corporate, banks, and financial institutions or any other government or regulatory authorities, statutory authorities, quasi-judicial authorities.
The Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower hereby gives specific consent to the "E.M.A.L" for disclosing/submitting the financial information' as defined in Section 3 (13) of the Insolvency and Bankruptcy Code, 2016 (Code' for brief) read with the relevant Regulations/ Rules framed under the Code, as amended and in force from time to time and as specified there under from time to time, in respect of the Credit Financial facilities availed from the "E.M.A.L", from time to time, to any 'Information Utility (IU' for brief) as defined in Section 3 (21) of the Code, in accordance with the relevant Regulations framed under the Code, and directions issued by Reserve Bank of India to the banks from time to time and hereby specifically agree to promptly authenticate the 'financial information submitted by the Bank/"E.M.A.L", as and when requested by the concerned 'TU'.
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
ACCEPTANCE
The Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower has read the entire Agreement including the details given in schedule which have been filled in the presence of the Borrower or/and Co-Borrower or/and Co-Borrower. The Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower hereby expressly and irrevocably agreed to be bound by all the conditions including the details in Schedules.
The aforementioned Agreement and other documents have been explained in the language know to the Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower and the Borrower or/and Co- Borrower or/and Co-Borrower or/and Co-Borrower has understood the entire meaning of the various clauses.
The Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower is aware that the "E.M.A.L" shall agree to become a party to this Agreement only after satisfying itself with regard to all conditions and details filled by the Borrower or/and Co-Borrower or/and Co-Borrower or/and Co-Borrower in the Application for the Loan and Agreement in consonance with the "E.M.A.L"'s policy.
The Borrower or/and Co-Borrower agrees that this Agreement shall be deemed to commence and become legally binding on the date when the authorized officer of the "E.M.A.L" will signs this Agreement at the city where the Lending Office of the "E.M.A.L" is situated. It shall be in force till all the monies due and payable to the "E.M.A.L" under this Agreement as well as all other Agreements, document(s) that may be subsisting
executed between the Borrower or/and Co-Borrowerand/or the Guarantor(s), are fully paid.
The Borrower or/and Co-Borrower hereby confirm and certify that the aforesaid amount of loan granted by the "E.M.A.L" will be used only the said purpose and will not be used for any other purposes including for the purpose of snaking investments in the capital markets or for any speculative or anti social purposes. The Borrower or/and Co-Borrower hereby confirms acknowledge that in the event of the funds being used for any other purpose of the "E.M.A.L" shall have a right to recall the funds advanced to me/us.
IN WITNESS WHEREOF THE PARTIES HERETO HAVE SIGNED AND CAUSED TO BE DELIVERED THESE PRESENTS ON THE DATE AND PLACE MENTIONED BELOW
WITNESS DECLARATION IF BORROWER(S) SIGNS IN VERNACULAR LANGUAGE
यह कि दिनांक............................................को निष्पादित, ऋण अनुबन्ध मय अनुबन्ध संख्या .................................. लोन एप्लीकेशन फार्म, पावर ऑफ अटार्नी, हाईपोथिकेशन एण्ड मोरगेज डीड एवं प्रोमेजरी नोट की समस्त शर्तों को मेरे द्वारा ऋणी, सहऋणी एवं गारन्टर को समझा दिया है एवं ऋणी, सहऋणी एवं गारन्टर द्वारा उक्त शर्तों को समझ लिया है।
Name of Witness Address of witness Signature of witness
______________ _________________ __________________
IN WITNESS WHERE OF WWE hereunto set My/Our hands_______________________________(place) this day of____________________
Mr./Ms./M/s___________________________________(Borrower) Signature______________________________
Mr./Ms./M/s___________________________________(Co- Borrower) Signature______________________________
Mr./Ms./M/s __________________________________(Guarantor) Signature______________________________
Mr./Ms./M/s __________________________________ (Witness) Signature______________________________
(1)_html_87704078.gif)
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
(1)_html_9a8fadc4.jpg)
Name of Witness ..............................................................................
Adress of Witness ............................................................................... Easy Money Auto Loan
Signature of Witness ................................................................................ Authorised Signatory
I/We hereby confirm/accept and declare that I/We have fully read and understood all the terms & conditions mentioned herein this agreement
मैं / हम स्वीकार व उद़घोष करते हैं कि मैंने / हमने सभी पृष्ठों पर लिखित त्रद्धण अनुबंध की र्श्तों को पूणत: पढ व समझ लिया है
Borrower______________________ Co-Borrower_______________________ Guarantor_______________________
सेवा में,
इजी मनी ऑटो लोन
रजिस्टर्ड
ऑफिस :
शोप
नं 212
प्रथम
तल बस स्टैण्ड के पीछे,
हनुमानगढ
जंक्शन -335512
विषय: वाहन बीमा हेतु।
महोदय,
मैं......................................पुत्र/पुत्री/पत्नि
श्री
............................निवासी.....................................
.........................................
ने
अपना वाहन नं
....................................................................पर
इजी मनी ऑटो लोन से
...........................................
रूपये
का ..........................
वर्ष
के लिए वाहन का बीमा निरन्तर
बना रहे,
इसलिए
मैं इजी मनी ऑटो लोन को सहमति
देता हूं कि बीमा की राशि मेरे
ऋण खाते में से डेबिट कर दिया
जाये और मैं बीमा किस्त की
राशि वाहन की किश्त के साथ जमा
करवा दूंगा। अगर मैं बीमा की
राशि
.......................................................................
को
समय पर जमा नहीं करवा पाता हूं
तो बीमा राशि पर 36
प्रतिशत
ब्याज अदा करने को बाध्य हूं
एवं बीमा की राशि मय ब्याज
प्राथमिकता से जमा करवाऊंगा।
अगर मैं अपने वाहन का बीमा स्वयं करवाता हूं तो मै, इजी मनी ऑटो लोन के कार्यालय में लिखित पूर्व सूचना देने के लिए बाध्य हूं
प्रार्थी
नाम................................................................................................
मोबाईल नं....................................................................................
पता.............................................................................................
To,
The Manager
Operation Department
Easy Money Auto Loan
Regd. Office: Shop no 212 first floor back side if bus stand
Hanumangarh Jn, Hanumangarh- 335512 (Raj.)
Re: Consent for making payment in favour of.........................................................
in the case of Mr.. ........................................ ....................................................................
Dear Sir,
I have an advance amounting Rs.. .........................from..........................................
...............................................Hanumangarh On dated......................................................
I request you that my loan amount kindly be disbursed in favour of
.......................................................................................................Hanumangarh
Thanking Your
Your Faithfully
(Borrower) Co-Borrower Sign. Guarantor Sign.
DEMAND PROMISSORY NOTE
Rs.__________________________
On Demand I/We_________________________Promise to pay Easy Money Auto Loan
OR
order, the sum of Rs.___________________(Rupees_______________________________)
together with interest thereon such sum from this date onwards at a rate of___________% per annum payable at________________________ or at a rate which may be determined from time to time by Easy Money Auto Loan.
Presentment for payment and noting and protest of this note are hereby unconditionally and irrevocably waived.
Affix
revenue
stamp
Mr./Ms./M/s.____________________________
(1)_html_81a695cd.png){kind=small}
Signature_________________________
(Borrower) (Please sign across the revenue Stamp)
Affix
revenue
stamp
Mr./Ms./M/s._____________________________Signature________________________
(Co-Borrower) (Please sign across the revenue Stamp)
Affix
revenue
stamp
Mr./Ms./M/s.____________________________ X Signature______________________
(Guarantor) (Please sign across the revenue Stamp)
Rs._______________________
Place_____________________
Date______________________
Borrower_________________Co-Borrower________________Guarantor X_____________
इकरारनामा
मेरे
द्वारा ईजी मनी ऑटो लोन हनुमानगढ
से अपनी जीप/ट्रक/बस
पर पंजीयन संख्या.........
.........................जो
कि.......................................................नाम
से आर.टी.ओ.
मे
रजिस्टर्ड है। जिस पर
मैं..................................................रू.
फाइनेन्स
करवा रहा हूँ। मेरे द्वारा
हस्ताक्षर किये एग्रीमेन्ट
के अनुसार उसमें दर्शाई सभी
किश्तें समय पर दी जावेंगी।
मैं स्वीकार करता हूं कि मेरे
द्वारा जो प्रथम किश्त दी
जायेगी वह सदैव अग्रिम (एडवान्स)
ही
रहेगी एवं मेरे द्वारा लिये
फाइनेन्स का
ब्याज....................................की
स्थाई दर से देय होगा। यदि
मेरे द्वारा एग्रीमेन्ट में
तय किश्तें समय पर दी जाती है
अथवा सभी किश्तों के माह के
कुल आधे दिन ही किश्तें देर
से दी जाती है तभी मेरे द्वारा
अंत में मिलने वाली छूट जो
कि.....................................................
से
होगी हेतु मांग की जावेगी
अन्यथा नहीं। किश्तें समय से
नहीं दे पाने की स्थिति में
मेरे द्वारा पूरा ही ब्याज
दिया जायेगा अर्थात छूट नहीं
मिलेगी । मेरे द्वारा उपरोक्त
को अपनी भाषा में समझ कर पूरे
होशो-हवास
में हस्ताक्षर किये जा रहे
है, जो
वक्त इति जरूरत काम आवें।
धन्यवाद
नोट: उपरोक्त वाहन पर फाईनेन्स लेने से पूर्व मेरे द्वारा रजिस्ट्रेशन पर ईजी मनी ऑटो लोन का हायर-पर्चेज चढ़वा कर दे दिया गया है।
गारन्टर भवदीय
1. x पता ..............................................
....................................................
2. x ....................................................
IRREVOCABLE POWER OF ATTORNEY
TO ALL WHOM THESE PRESENT SHALL COME/WE....................................................................
S/D/W of residing of..........................................................(here in after called the Borrower(s)
which expression shall include his/her heirs, executors, administration, legal representative and assigns/his successors)
Or
M/s..................................................a partnership firm having its principal and constituted by and between Place of business at Mr./Mrs...................................................hereinafter called "the borrower" which expression shall include the partners for the time being of the said firm and survivors or survivor of themand the heirs, executors, administration of the last survivor)
WHEREAS Easy Money Auto Loan Regd. Office: Shop no 212 first floor back side of bus stand Hanumangarh Jn, Hanumangarh- 335512 (Raj.), hereinafter referred to as E.M.A.L. (which expression shall, unless repugnant to the context or meaning thereof, shall be deemed to mean and include its successors an assigns), has sanctioned to me/us a sum of Rs.__________________________
By the way of loan under terms contained in the loan agreement executed/ to be executed between me/us and the E.M.A.L.
AND WHEREAS I/We have agreed to hypothecate the asset more fully described in the schedule to the loan agreement dated..........................(hereinafter referred as "the asset") and to create change over the Asset in favour of the "E.M.A.L" as and by way of a security for ensuring due repayment by me/us to the "E.M.A.L" of the loan interested and all other charges that would be payable by me/us to the "E.M.A.L" under the loan Agreement.
AND WHEREAS I/We have agreed to execute in irremovable power to Attorney in favour of the "E.M.A.L" to protect the interest of the "E.M.A.L" under the loan agreement, to do following acts, deeds, matters and things.
Now therefore this deed witnessed that in consideration of the "E.M.A.L"'s sanctioning the loan mentioned herein the Borrower hereby irrevocably nominates, constitutes and appoints the "E.M.A.L" to be true and lawful attorney of the Borrower to do execute and perform the following acts, deed and things:
1. To take inspection directly or to engage any advocate, Charted Accountant or Registered trade practitioner for taking inspection of my/our Income Tax returns and Assessment Proceedings, Appeal proceedings, etc, relating to the current and previous Assessment years for verifying the veracity of various representations made by the undersigned for seeking Loan from the "E.M.A.L".
2. To get requisite information from my/our employer and/or any person as may be considered necessary by the "E.M.A.L".
3. To appear before the office of Regional Transport Officer for effecting endorsement for hypothecation on registration certificate and also transfer of the Asset/ Vehicle, and also to appear before the Sales Tax Officer and other authorities thorough Advocates or any such authorized person as deemed necessary by the "E.M.A.L".
To take possession of the Asset in case of default as per terms of the Loan Agreement and to retain or otherwise deal with the asset in such manner as may said Attorney may deem fir in the circumstances.
To transfer, sell or dispose of the Asset and to sign and execute all the contacts, declarations and instruments and forms as may be necessary or expedient for giving effect to the transfer, sale or any other disposal.
To deliver the Asset and to execute necessary documents in this regard.
To receive the proceeds of such sale transfer or disposition to give valid receipt and discharge thereof and to appropriate the proceeds in the manner my said Attorney thinks fit.
To appoint or engage any broker for effecting any such transfer, sale or disposition or realization as the case may be.
To give notice to the appropriate authority for registration of the Asset upon the sale thereof.
To take delivery and possession of the Asset as and when deemed necessary by the E.M.A.L.
To cancel the booking of the vehicle with the manufacturer or the dealer and to receive the booking amount and any other deposit with the manufacturer or dealer and also utilize the same towards discharge of my/our debt towards the E.M.A.L. in the event of the E.M.A.L. deciding to recall the Loan amount for any reason whatsoever.
To appoint such agents as the E.M.A.L. may deem fit and to confer on them such power as deemed necessary by the E.M.A.L. and also to delegate any of the powers conferred herein to agents so appointed with suitable conditions as deemed by the E.M.A.L.
Borrower Sign Co-Borrower Sign. Guarantor Sign.
And generally, to do perform and execute, all acts, deeds, matters, and things relating to or concerning or touching these presents as my said attorney may deem fit as fully and effectually as I/We had personally done, performed or executed the same.
And I/We hereby agree to ratify and confirm all and whatsoever the E.M.A.L. may do or cause to be done by virtue and in pursuance of the said authorities hereby given.
I/We hereby confirm that the above power of Attorney executed in favour of the E.M.A.L. is irrevocable and any act, deed, or thing done by me/us in connection with the provisions of this clause will be binding on me/us and shall have overriding effect over the acts, deeds, things done by me/us in connection therewith.
No
consideration is passed between the principal and the Attorney for
the grant of this Power of Attorney.
IN
WITNESS where I/We hereunto set my/our hand
at...................................... On the day of the mentioned
herein SIGNED and DELIVERED by within named
Affix Common Seal of the
E.M.A.L
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Mr/Ms/Mrs.......................................
This........................day of...................In the presence of
Name (Witness) Address Signature
1.________________________________ __________________________________ _________________________
2.________________________________ __________________________________ _________________________
Borrower Sign Co-Borrower Sign. Guarantor Sign.
SIGNATURE VERIFICATION
Easy Money Auto Loan.
Regd. Office: Shop no 212 first floor back side of bus stand,
Hanumangarh Jn, Hanumangarh- 335512 (Raj.)
Dear Sir,
We confirm that Mr./Ms./Messrs.______________________________________ resident of ___________________________________________ maintain a saving/current account with us and his/her/their attested signature/s below is verified to be as per our records..
__________________________________________________________
(Signature of Account holder/s/Authorised Signatory of Account holder)
Attested :
Account Number: __________________________________________
Year of Opening of Account __________________________________________
Bank's Name __________________________________________
Bank Address __________________________________________
Stamp :
Signature ______________________
Date ______________________
Date_____________
Easy Money Auto Loan.
Regd. Office: Shop no 212 first floor back side of bus stand,
Hanumangarh Jn, Hanumangarh- 335512 (Raj.)
REF:
PAYMENT
INSTRUCTION FOR VEHICLE/EQUIPMENT/LIVESTOCK/CATTLE/OTHER
LOAN FOR DIRECT PAYMENT TO THE SELLER/DEALER OR TO THE SOCIETY
This is to request you to follow the specified payment instruction while disbursing the Vehicle/ Equipment/ Dairy/Livestock/ others loan hereinafter referred as the loan;
1.
Please issue a cheque favouring Shri / Smt. /
M/s.__________________________ from whom I
have purchased/propose to purchase the aforesaid asset/s
OR
2.
Please issue a (Tick One) Managers Cheque or DD Payable
at___________________________
Favouring (Name of the Seller/Dealer/society/other)____________________________________
I/We hereby request that the full amount of the loan (after deducting the insurance premium amount and any other charges as applicable there from) that you agreed to grant to me for the purchase of a __________________________________________________________________
(Asset/s name) be disbursed to the person/dealer/firm/agency/organisation/Society (the seller) whose name and address is given below.
Name
of the Society /
agency_____________________________________________________
/organisation/person :
Address:______________________________________________________________________
I/We
confirm that I/We have booked the aforesaid Asset/s from the seller.
I/We confirm that I/We will be taking delivery of the above Asset/s from the seller.
I/We confirm that your disbursement of the loan proceeds to such seller in accordance with the instructions given by me/us pursuant to this letter will constitute a disbursement of the loan proceeds to me / us. I/We confirm that the said seller is fully authorized to apply the loan amount as deemed appropriate for acquisition of the asset/s.
/We
further confirm that you will have no responsibility or obligation
whatsoever with respect to, and I/We shall be responsible to repay
the loans in full in accordance with its terms regardless of any
delay or non delivery of the asset/s and defect, damage or death or
other problems with the quality, Breed, yield, fertility or the
health of such cattle/ ivestock or any matter whatsoever arising out
of or relating to such asset or the use or application of the loan
proceeds. Further, incase of any cancellation of the purchase of the
above asset, I/We further authorize and instruct the seller to refund
the booking money to you or I shall arrange to return the full loan
amount.
I/We
authorize you to pay the seller, from the charges paid by me / us,
any amount that you may consider appropriate for processing the loan
application, assisting you in perfecting your security interest in
the asset otherwise assisting with the loan.
I/We
will inform you as soon as I/We take delivery of the said asset.
Yours
sincerely,
Mr./Ms./M/s____________________________
(Borrower) Sign.________________
(Name)
Mr./Ms./M/s____________________________ (Borrower) Sign.________________
(Name)
INSURANCE UNDERTAKING
Date:__________________________
Easy Money Auto Loan.
Regd. Office: Shop no 212 first floor back side of bus stand,
Hanumangarh Jn, Hanumangarh- 335512 (Raj.)
SUBJECT : INSURENCE UNDERTAKING
Dear Sir,
1. I wish & undertake to insume my Licestoke/Cattle/Vehicle/Equipment/other (pl. specify)________________
with_______________________________________________________________________________________
2. I am fully responsible for the insurance of my asset/s and undertake to make sure that it is comperhensively insured at all times, and shall keep EASY MONEY AUTO LOAN indemnifield of the same. Further, i will ensure that lien on my insurance policy is marked favouring EASY MONEY AUTO LOAN till the loan is fully repaid.
3. I am fully aware that my EASY MONEY AUTO LOAN's Loan repayment is independent of delivery / insurance
claim processing/state of my asset.
4. Enclosed is a Cheque / Pay order / ED for Rs.____________________________ drawn on________________
dated____________________________________________________ toward insurance premiumfor 1st year/ three year period payable to __________________________________________________________________
Yours truly,
Mr./Ms./M/s._______________________________ (Borrower) Signature________________________
(Name)
Mr./Ms./M/s._______________________________ (Co-Borrower) Signature________________________
(Name)
INSURANCE LETTER
Date:__________________________
To,
The Manager
__________________________________________
Ref: Insurance Policy No..____________________________________
Dear Sir,
As I have this day sold my Livestock/Cattle/Vehicle/Equipment /Asset_________________________
to_________________________________of_____________________________________________
I shall thank you to transfer the interest vested in the policy covering the above to the name of the buyer.
The relative insurance certificate and transfer fee are sent herewith.
Yours faithfully,
Mr./Ms./M/s________________________________(Borrower) ✓Signature_________________
SURRENDER LETTER
Easy Money Auto Loan.
Regd. Office: Shop no 212 first floor back side of bus stand,
Hanumangarh Jn, Hanumangarh- 335512 (Raj.)
Reference: Loan Account No ________________________________________
Loan Agreement Date
________________________________________
Vehicle/Equipment make/
________________________________________
Cattle/Livestock breed
________________________________________
Insurance Tag/Reg. No. ________________________________________
Engine No. ________________________________________
Asset/s Details (Qty.) ________________________________________
Name of the Borrower ________________________________________
Address of the Borrower ________________________________________
Under
the aforesaid Loan agreement, I undertook to pay the monthly
installments on the due dates mentioned therein. However, I could not
pay the Installments due
from_________________________to_______________________ and
consequently the aforesaid Asset/s has/have been taken possession of
by / Surrendered to you on
_________________________.
As I am not in a position to settle the account and to take back the Asset/s, I request you to sell the above in "as is where is" condition at the best price as determined by you.
Yours
faithfully
Mr./Ms./M/s_____________________(Borrower)
Signature________________
(Name)
Mr./Ms./M/s_____________________(Co-Borrower)
Signature________________
(Name)
FORM
"TCR"
(See
Rule 4)
Intimation
of the Transfer of a ownership of a Motor Equipment by transfer or
To,
The
Taxation Authority
___________________________son/daughter/wife(*)
of________________________hereby
from to you that I have on ________________________ sold motor equipment bearing number__________________________________________________________________ the ownership of which stand in my name to ___________________________________________
_____________________ son/daughter/wife(*) of________________________ address_____
_______________________________________________________________________________________________________________________ and request that the certificate of taxation of the sald Equipment may now be transferred in his/her name.
Dated__________________________ Signature of thumb-impression of transferor
(Strike out whichever is inapplicable)
_________________________________________________________________________
FORM
"TCR"
(See
Rule 4)
Intimation
of the Transfer of a ownership of a Motor Equipment by transfer
(1)_________________aged__________________________________son/daughter/wife(*) of _______________________________(2 of)________________________forward herewith the
certificate of taxation of motor equipment bearing No. (3).______________________________
___________________________________________________________ the ownership of which has been transferred to me by (4) _______________________________________ and hereby request that certificate of taxation of the sald Equipment may be transferred in my name and that it be amended accordingly.
Dated__________________________ Signature of thumb-impression of transferor
(Strike out whichever is inapplicable)
1. Here enter full name of transferer
2. Stirke
out which ever is inapplicable
3. Here
enter full address of transferee
4. Here
enter registration mark
5. Here
enter name and address of person or firm
from whom the equipment has been transferred
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SPECIAL POWER OF ATTORNEY (Mortgage)
This power of Attorney granted at..................................this.................day of 20....by.................................
................................................................................................................................................................................................................................................................................................................................................
hereinafter called the borrower/s' (which expression shall unless the context otherwise requires, include his/her/ their heirs, executors, administrators and permitted assigns) in favour of EASY MONEY AUTO LOAN Regd. Office: Shop no 212 first floor back side of bus stand,Hanumangarh Jn, Hanumangarh- 335512 (Raj.) hereafter called the "E.M.A.L" (which expression shall unless the context otherwise requires include its successors and assigns).
Whereas by a loan agreement (hereinafter referred to as "the said agreement) made between the borrower/s, guarantor and the "E.M.A.L", the "E.M.A.L" has agreed to lend to the borrower/s and the borrower/s has have agreed to borrower from the "E.M.A.L" the loan amount as stated in the schedule contained in the said agreement.
Whereas as per one of the conditions contained in the said agreement the borrower's has/have agreed and undertaken that the principal sum of the loan, interest, commitment and other charges and any other dues payable hereunder shall be secured inter-alia by a first charge and mortgage of the property described in the schedule thereto in a form satisfactory to the "E.M.A.L".
WHEREAS the borrower/s has/have further agreed to execute in favour of the "E.M.A.L" an irrevocable power of attomey authorising the "E.M.A.L" to execute in favour of itself or any other person as the "E.M.A.L" in its sole discretion to decide, a legal mortgage in any form including in English form for and on behalf of the borrower/s in the event of the borrower/s failing, when required by the "E.M.A.L" to duly execute legal mortgage in the form including in English form of the property described in the said Schedule.
WHEREAS the "E.M.A.L" has called upon the borrower/s to execute the power of attorney being these presents:-
NOW THEREFORE, THIS DEED WITNESSETH that consideration of the "E.M.A.L" having sanctioned the said loan (including any further, other or additional loan sanctioned/ to be sanctioned by the "E.M.A.L" to the borrower's), the borrower/s, hereby irrevocably nominate/s, constitutes and appoint/s the "E.M.A.L" to be the trued and lawful attorney of the borrower/s in the name and for and on behalf of the Borrower/s to do, execute and perform the following acts, deed, things, viz.:
1. To make, sign, execute, and deliver in favour of the "E.M.A.L", or any other person as the "E.M.A.L" in its sole discretion may decide the mortgage in any form including in English form of the property described in the schedule contained in the said agreement with the mortgage deed containing all such covenants, conditions, provisions and stipulations as the "E.M.A.L" may in its sole and absolute discretion deem necessary or expedition for better securing the repayment of the loan and all interest, commitment and other charges any other dues receivable in connection with the loan.
2. To lodge the mortgage deed for registration and to admit execution thereof before any Registrar or Sub registrar of Assurances.
3. To apply for and obtain the necessary certificate u/s 230A and or any other section of the Income Tax Act 1961 and/or any other certificates that may be necessary for registration of the deed of mortgage and/or any deed or documents that may be required to be registered in this connection.
4. To appear for and on behalf of the borrower/s before any Income Tax Authorities and if need be to pay/ discharge any tax liability for and on behalf o the borrower/s and to recover the same from the borrower/s with such interest as the "E.M.A.L" in its sole discretion may decide.
5. To make application to the Competent Authority under the Urban Land (Celling and Regulation) Act, 1976 for creation of the said mortgage and for that purpose to make and sign such applications, affidavits, declarations, titles as may be necessary.
6. To finalise and execute mortgage deed containing such covenants, conditions, provisions and stipulations including granting of power to the mortgagee to sell the property privately and without intervention of any court of law, as the "E.M.A.L" in its sole discretion may deem fit.
7. To do or cause to be done all such act, deeds, things as may be necessary or proper for the effectual completion and registration of the said mortgage.
8. To do or cause to be done all such act, deed, matter or things which the "E.M.A.L" may deem necessary or expedient for the purpose of or in relation these presents.
All or any of the powers hereby granted in favour of the "E.M.A.L" may be exercised by any officers of the "E.M.A.L" as may be decided by the "E.M.A.L" in that behalf.
The borrower's hereby ratify and confirm/s and agree/s to ratify and confirm all that the "E.M.A.L" or any of its officer nominated by the "E.M.A.L" in that behalf shall do or cause to be done in or concerning the premises by virtue of these presents.
The borrower/s hereby declare/s that this power of attorney shall be irrevocable till the entire loan together with interest, cost, charges, expenses and all other monies payable in relation thereto as also expended by the "E.M.A.L" in connection therewith or with these presents are fully repaid by the borrower/s to the "E.M.A.L" and the "E.M.A.L" has revoked these presents in writing.
IN WITNESS WHEROF I/We hereunto set my/our hands at___________________________(Place) this__________________day___________________
SCHEDULE
(Description of Asset)
Purchased by me/us pursuant to a loan granted to me/us by the "E.M.A.L" under the Asset Loan-Cum-Hypothecation cum Mortgage Agreement dated____________________________between me/us and the "E.M.A.L".
SIGNED AND DELIVERED by the said
above named Borrower/Co-Borrower
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DATE______________
NAME:_________________________________
(Signature of Borrower /Co-Borrower)
Incase of partnership firms, authorized partner to sign.
Incase of sole proprietary concerns, sole proprietor to sign.
Incase of companies, common seal to be affixed in accordance with the Articles)
In the presence of WITNESSES:
Name Address Signature
1.______________________ ___________________ _________________
2.______________________ ___________________ _________________
3.______________________ ___________________ _________________
Borrower_________________ Co- Borrower ____________ Guarantor____________
गाडी सीज करने बाबत
नाम ..................................................................................................
गाड़ी नं. ..................................................................................................
चैसिस नं. ..................................................................................................
इन्जन नं. ..................................................................................................
मॉडल ..................................................................................................
वर्ष ..................................................................................................
वाहन से सम्बन्धित कागजात
आर.सी. ..................................................................................................
बीमा ..................................................................................................
परमीट ..................................................................................................
टैक्स रसीद ..................................................................................................
अन्य ..................................................................................................
वाहन में प्राप्त एसेसरी व अन्य सामान
बैटरी ..................................................................................................
स्टेपनी ..................................................................................................
टूल किट ..................................................................................................
टैप ..................................................................................................
दायरों की स्थिति आगे ...................................................................................
अन्य ..................................................................................................
पीछे"
उक्त विवरण मेरे सामने सीजर ने भरा है। उक्त वाहन का कब्जा मैंने अपनी इच्छा से दिया है एवं वाहन को ''ईजी मनी ऑटो लोन'' किसी अन्य व्यक्ति को हस्तांतरित करें या स्वयं काम में लेवें। मैं इसके संबंध में कोई कानूनी कार्यवाही नहीं करूँगा।
उक्त समस्त विवरण मैंने पढ़ एवं समझकर पूर्ण होश हवास की अवस्था में हस्ताक्षर किये है। इसमें मुझे कोई आपत्ति नहीं है। इसकी एक कॉपी मैंने प्राप्त कर ली है।
हस्ताक्षर सीजर हस्ताक्षर स्वामी या चालक
.......................................................... ..............................................
दिनांक
इकरारनामा
मैं....................................................पुत्र श्री .................................................................... निवासी.................................................................................................................................................
यह इकरार करता हूँ कि
मैंने दिनांक............................................................. को वाहन नं .........................................................
पर श्री.................................................................. पुत्र श्री ......................................................
निवासी....................................................................................................................... को फर्म
मैसर्स '' ईजी मनी ऑटो लोन '' से फाईनेन्स राशि............................................ /- रूपये अक्षरे .............................................................................................. ऋण दिलवाया है।
उक्त कस्टमर के दस्तावेज का मैंने स्वयं सत्यापन कर लिया है तथा वाहन का मैंने स्वंय निरीक्षण किया है। फाईल तथा समस्त दस्तावेज पर कस्टमर एवं गारन्टर के हस्ताक्षर मेरे सक्षम (निगरानी) में हुए है।
वाहन के सम्बन्ध में :-
(ए) आर.सी. में नाम ट्रांसफर
(बी) HPN चढ़ाने
(सी) उक्त वाहन का बीमा मेरे द्वारा इन्श्योरेन्स कं. से चैक करवाने पर सही पाया गया है।
दिनांक - हस्ताक्षर एजेन्ट
नाम.....................................................
............................................................
............................................................
............................................................
Borrower Co-Borrower Guarantor
Borrower Co-Borrower Guarantor
Borrower Co-Borrower Guarantor