Persons entitled
- Industrial Reconstruction Corporation of India LTD
Amount secured
Rupus 50 lakhs only
Short particulars
See page 2 doc 247 the whole of the moveable assets of the company including implements, fittings, spare parts, accessories, tools, stores, inventories, typewriters, motor vehicles, all types of transport equipment, office furniture, stocks of raw materials, finished and semi-finished products, other goods and uncalled capital from time to time acquired which now or hereinafter from time to time during the continuance of the charge shall be brought into, stored or to be stored in or about the company's premises, factories, godowns and elsewhere and wherever they are, whether stationary or transit and all moveable items of the entire plant and machinery of the company the charge is subject to prior charges created in favour of the company's bankers for working capital requirements in the ordinary course of business and on specific items of machinery purchased by the company out of the loans from state bank of india and industrial credit and investment corporation of india limited; if agreed to be mortgagee in writing, subject to rights of any bank, financial institution or other person which has advanced or proposes to advance financial assistance to the company; company shall not, except as hereinbefore stated, create any mortgage, charge, lien or encumbrances upon or over the property mortgaged or any part thereof nor do or allow any thing to be done that may prejudice the charge.