SREE SESHADRI COLD STORAGE PVT. LTD.

,
Plot No. 1347, 163P, 182P & 183, KIADB Industrial Area,
2nd Main, 3rd Stage, Mundargi, BELLARY- 583 101.
Cell : 8147788888

WAREHOUSE RECEIPT / BOND

Name & Address of the Depositor
M LEELAVATHI
W/O LOKANATH NAIDU
PLAT NO:17
WARD NO.30
EAST 2ND CROSS
CHURCHROAD

Receipt / Bond Number

Date

NO. A201600018

11/02/2016

Details of Commodity Deposited

Commodity/Variety

No. of Bags/Units

Approximate Qty
Kg.

Approximate Value /Rs.

CHANNA

479BAGS/60KGS

28740KGS

@RS.45/=RS.1293300/=

CHANNA

320BAGS/50KGS

16000KGS

@RS.45/=RS.720000/=

0BAGS/

0KGS

RS.0/=

TOTAL

RS.2013300/=

Chamber where
Stored

Storage Mark

Depositors Identification
Marks

24/462,29/320,32/17,

NOMARK

I declare that I am the owner

representative of the goods mentioned above. I
certify that the above consignment is fit for
storing in cold storage. I have read & understood
all terms & conditions & also have undertaken to
abide by them

For SREE SESHADRI COLD STORAGE

PVT. LTD.,

Authorized Signatory
Signature of the Depositor
Note : This receipt should be produced at the time of releasing the goods

Details of Withdrawals
Date

Gate Pass No.

No. of Bags

Variety

UNDER LIEN TO INDIAN OVERSEAS BANK, BELLARY

Depositors Signature

24

GENERAL TERMS & CONDITIONS

TENDER FOR STORAGE :
1. All goods for cold Storage shall be delivered at the Cold Storage premises properly marked and packed for handling.
2. The Depositor declares that are in good condition and are fit for keeping in the Cold Storage.
3. The Depositor also certifies that the goods are in good condition and are fit for keeping in the cold storage.
4. The Depositor shall furnish before delivery goods a manifest showing marks, brands or size to be kept and accounted for separately.
Otherwise the goods may be stored in bulk or assorted at the discretion of the cold storage incharge.
5. The Depositor shall the details of unsound packing if any at the time of deposit. The cold storage shall not take any responsibility for
pilferages from such packages.
6. 6. Purely as per the declaration given by the depositor the cold storage is accepting deposit of goods. The Cold Storage are not in any
way aware of the contents inside the pickings or any small containers of potty packing inside. There fore the Cold Storage shall not
take any responsibility what so ever for pilferages noticed after taking delivery of the goods from the storage. It is the responsibility of
the depositor to see whether his packings are in the same condition as at the time of deposit. While taking delivery of the stocks
complains received after removing the stocks from the premises of the storage shall not be entertained under any circumstances.
7. Cold Storage undertakes to store and deliver the goods only on packages in which they are originally received unless otherwise
provided.
STORAGE PERIOD:
8. All goods are stored on month-to-month basis unless otherwise provided. A Storage month shall extend from a date in one calendar
month to but not including the same date of the next and of succeeding calendar months but if there is no corresponding date in a next
succeeding calendar month it shall extend to and Include the last day of that month. When the last day of the final storage month falls
on a Sunday or public holiday, the storage month shall be deemed to expire on the next succeeding business day.
9. If for any reason the goods deposited cannot be kept for along time in the Cold Storage for which it was agreed to be kept or its further
keeping will deteriorate greatly in value or injure other property the Cold Storage may give such notice as is reasonable and possible in
the circumstances to the depositor requiring nim to remove those goods from the Cold Storage whether immediately or within the time
notified in the notice after paying all the charges, if any due to the Cold Storage.
10. If a Depositor fails to remove the goods within the time required the Cold Storage may remove them and sell the goods in public
auction at the risk and cost of the Depositor and appropriate the sale proceeds towards its dues and remit the balance, if any to the
Depositor.
DEUVERY REQUIREMENTS:
11. (a) Instructions for delivery of goods shall always be in writing and signed by the depositor or his authorised agent. Advance
Intimation of atleast 4 hrs. during business time shall be given whenever release of goods is required from the Cold Storage. The goods
shall be handled only by the authorised workmen and shall not be allowed to be handled by any other person when once it is inside
Cold Storage factory. The goods shall be accepted and delivered only during the business hours except in special cases at the discretion
of the Sree Seshadri Cold Storage Pvt. Ltd., Only authorised persons with proper identity of die clients shall be allowed to negotiate
the transaction. Nobody shall be permitted inside the Cold Storage room without permission of Competent authority of the Cold
Storage.
(b) Depositor shall not be allowed to take delivery of goods stored unless otherwise he clears all the dues to the Sree Seshadri Cold
Storage Pvt. Ltd.,
LIABILITY:
12. The Cold Storage plant undertakes to exercise reasonable care and diligence required by ten rules and regulations relating to such
storage for keeping the goods in the Cold Storage. The Goods for Cold Storage are accepted entirely at Depositors risk only. The
Depositor is advised to make his own arrangements for covering the goods by necessary insurance. The Cold Storage shall have the
lien for the goods deposited until all its dues are cleared by the depositor.
13. If any damage or loss occurs to the goods on account of failure of the Cold Storage plant and machinery and, or on account of other
factors which are beyond control, the Cold Storage shall not be responsible for such loss or damage.
14. The quality condition value and contents of goods are known to the Cold Storage authorities as entered in ten receipt on the basis of
the declaration made in the regarding by the Depositor at the time of deposit.
15. The Cold Storage shall not hold any responsibility for the loss in weight, shrinkage and other after effects on account of cold storage.
16. No guarantee is given for the life of the goods stored in the Cold Storage.
SCHEDULE OF CHARGE:
17. (a) The charges shall be as per the rates prescribed by the Cold Storage which are subjected to change from time to time without
notice.
(b) If there exists continuous power cut and necessary arises to run the compressor with diesel Generator sets then 25% extra rental
charges shall be collected and addition to the usual tariff intimated to the Depositors for collection of 25% additional rental charges in
this regard shall be intimated 7 days in ddyance.
(c) All storage charges shall be paid on month-to-month basis unless otherwise provided for and the storage charges shall be paid in
advance for each month in case of continuous monthly charges should be paid within 7 days then the cold storage authorities have
every right to remove the stocks from the cold storage and to keep it in open yard without giving any advance Intimation to the
Depositor, and then after one week to sell the goods in public Intimation to the Depositor and to adjust the sale proceeds towards dues.
(d) The charges for handling, loading and unloading and extra service rendered in the interest of depositor are to be paid by the
Depositor of goods in addition to usual Cold Storage charges. When the goods are transferred from one rack to another at the request
of the Depositor, a charge for handling snail be deemed levied. The Cold Storage may also transform at its own expenses any goods in
storage from one rack to another in the Cold Storage for reasons of administrative convenience.
(e) The Cold Storage has right to sell the stock in their custody incase the depositor fails to pay the dues to the bank on or before 31st
December every year, and credit the amount to the loan account or the creditor and to adjust the balance amount towards storage
charges, without any notice to the depositor.
18. After one month up to 15 days we collect cold storage rent for one month.
19. The form for any claim of dispute arising out of this agreement shall be the Civil Court at Bellary City. Note : This receipt should be
produced at the time of releasing the goods.

Signature of the Depositor

25

Place: Bellary
Date: 11/02/2016
From,
SRI/SMT.M LEELAVATHI
S/O.W/O LOKANATH NAIDU

PLAT NO:17
WARD NO.30
EAST 2ND CROSS
CHURCHROAD
VIDYANAGAR BELLARY TALUK & DST
The Senior Manager,

Indian Overseas Bank

Bellary.
Dear Sir,

Produce Loan for Rs.990000 /=

With reference to the above, I hereby declare that:
1. I am a farmer residing at EAST 2ND CROSS holding an agricultural land to
the extent of 12.03 ACRE.
2. I will not use the loan amount for trading purpose.
3. I have not availed any crop loan for cultivation of above produce.
4. No loan is outstanding against the above crop.

Yours faithfully,

20

Indian Overseas Bank, Bellary.

Application form for loan under Tie-up Arrangement with Cold Storage Unit :
Sree Seshadri Cold Storage Pvt. Ltd., Bellary.
1. Name

: M LEELAVATHI

2. Age

: 38 YEARS

3. Fathers Name
4. Address

: W/O LOKANATH NAIDU

: H.NO.PLAT NO:17
: WARD NO.30
EAST 2ND CROSS,BELLARY

5. Lands cultivated (in acres)

: Dry Land Garden Land

1. Own Land

: 152A,12.03 ACRE

2. Lease Land

Wet land

Total

6. Weather availed crop.

Loan from any institution
7. If So, Amount, date of
availment and due date
for repayment
8. Crops for which finance
availed

:NO

AT

:/=,

9. Produce kept in Cold Storage Unit Sree Seshadri Cold Storage Pvt. Ltd.,
Commodities
Bags
Quantity in Quintal
Market Value
Commodity/Variety

No. of Bags/Units

Approximate Qty Kg.

Approximate Value /Rs.

CHANNA

479BAGS/60KGS

28740KGS

@RS.45/=RS.1293300/=

CHANNA

320BAGS/50KGS

16000KGS

@RS.45/=RS.720000/=

0BAGS/KGS

0KGS

@RS./=RS.0/=

TOTAL

RS.2013300/=

Finance Required :
10. I request you to sanction a loan of Rs.990000 /=against My DPN and Pledge of warehouse receipt No. 201600018 Dated 11/02/2016 of M/s. Sree Sheshadri Cold
Storage Pvt. Ltd., (Name of the Cold Storage Unit) to meet our urgent expenses such
as crop cultivation etc.,

21

11. (BPLR-4.25%), Rs.50,001/= to Rs.2,00,000/= is 10.25%(BPLR-1.75%),and

for the loans beyond Rs. 2,00,000/- is 11.5%(BPLR-0.50%) half yearly
compoundable. I also understand that the rate of penal interest beyond due date
i.e., 42411 is 2% extra. The rate interests are subject to RBI and Banks
guidelines.
12. I hereby authorized you to hand over the bonds to the cold Storage
management after closure of the loan account.
13. I accept to bear the processing charges i.e., Rs. 3000/- for the beyond Rs.
25,000/- and inspection charges of Rs. 25/-for all the loan accounts. I also
understand that I have to reimburse the postages and notice charges.

Date : 11/02/2016

(Signature of the Applicant)

The Manager,
Indian Overseas Bank, Bellary.
The above mentioned applicant handed over the copy of original bond and
Phani copy. We may sanction an amount of loan of Rs. 990000 /=as per the under
mentioned calculation.
Commodity/Variety

No. of Bags/Units

Approximate Qty Kg.

Approximate Value /Rs.

CHANNA

479BAGS/60KGS

28740KGS

@RS.45/=RS.1293300/=

CHANNA

320BAGS/50KGS

16000KGS

@RS.45/=RS.720000/=

0BAGS/KGS

0KGS

@RS./=RS.0/=

TOTAL

RS.2013300/=

Loan Amount

RS.990000/=

Asst. Manager.

Senior Manager

22

The Manager,
Indian Overseas Bank
BELLARY
Name(s) M LEELAVATHI
Loan No. ..

Amount Rs.990000/=

LETTER OF PLEDGE
I/we hereby acknowledge to have deposited with
Indian Overseas Bank BELLARY the goods,
documents and securities for property of money,
hereunder mentioned (hereinafter referred to as the
said goods and securities in which expression are
included unless the same is inconsistent with the
context any further goods, documents and securities
for property money to be deposited as hereinafter
mentioned a) as a collateral security for the due
payment of my/your Promissory Note to the said Bank
dated this 11/02/2016 day of for
the sum of Rupees .990000/= as well as of all interest
at the rate of .% over Reserve Bank of India rate of
interest with a minimum of 10.25% per annum or at
such other rates as may be notified by the Bank to
me/us from time to time with HALF YEARLY rests and
charges thereon, and also for the cost and charges of
keeping the said goods and securities as a security
and in case I/we shall make default in paying the said
sum of Rs.990000/= to the said Bank on demand
according to the tenor of my/our said Promissory Note .
I/We hereby authorize and empower the said Bank or
any recognized Agent thereof to sell or remove and sell
and absolutely dispose of the said goods and
securities in such manner as they or he may think most
advisable without any reference to

me/us the undersigned or consent on my/our part.

I/We further hereby authorise the said Bank to
reimburse itself out of the proceeds of the said goods
and securities all costs, charges and expenses of
keeping and selling the said goods and securities,
but so that the said Bank shall not be responsible for
any loss from or through any employee / Agent I
Broker or Auctioneer employed in the sale of the said
goods and securities, or in any other manner
whatsoever in respect of the said goods and
securities and the said Bank shall also reimburse
itself in the amount of the said Promissory Note and
all interest and charges thereon, and should any
balance remain over. I/we authorise the said Bank to
place amount against all such sum or sums of money
as may at the time of such sale be due or owing by or
from me/us to the said Bank upon or in respect of
any other Promissory Note, Bill of Exchange or other
engagement, although it shall happen that such sum
or sums of money shall not be due at the time of
such sale, and I/We further engage to pay to the said
Bank the balance, if any, remaining unsatisfied and
I/We further engage to grant such further documents
as may be found necessary effectually to vest in the
said Bank the said goods and securities to enable
them to sell or transfer the same and

Signature

I/We further engage to maintain a margin either

by payment in cash or by the deposit of further
approved goods, documents or securities for
property or money, so that the amount advanced
be not more than 60 percent .of the market value
of the goods or securities deposited as security
for the time being and I/We agree the banks
decision as to market value shall in all cases be
final and binding upon me/us. And in the event of
my/our failing to maintain such margin as
aforesaid I/Wehereby 7uthorize the said bank to
sell at any time before the maturity of my/our said
Promissory Note the portion of or all, the said
goods and securities for the time being the
subject of this security which may be necessary to
the full payment of my/our said Promissory note
with interest and charges as agreed on. And all
fresh security added is to be subject to the same
conditions as hereinbefore stated or as stipulated
for by any separate document. I/We further agree
and engage not to revoke or make void any
Power of Attorney or other authority which I/we
have given or may give to said Bank to enable it
to sell and transfer the Said goods and securities
for the time being the subject of this security.
The Bank shall not be answerable or liable for any
damage arising out of shortage, theft, pilferage,
deterioration, depreciation and other causes
Which the said goods and securities may suffer
while in its possession or custody or in the
possession or custody of its servants or Agents
including clearing Agents.
The bank shall not be responsible for the shortage
in weight or the goods pledged since it will not
ordinarily be possible to ascertain their correct
weight by the Bank either at the time of storage or
release.

same are, except for such deposit, within

my/our, own disposition and control and free
from any prior charge. And lANe hereby also
agree that any notice in writing requiring to be
served hereunder shall be sufficiently served if
addressed to me/us at my/our address
registered in the Bank or in the event of no such
address being registered at my/our last known
place of residence of business in EAST 2ND
CROSS and left as such address or place or if
forwarded to me! us by post at the address or
place aforesaid. A notice sent by post shall be
deemed to be given at the time when in due
course of post it would be delivered at the
address to which it is sent.
I/we hereby agree as a pre-condition of the
loan! advances given to me/us by the bank that
in case I/We commit default in the repayment of
the loan! advances or in the repayment of
interest thereon or any of the agreed installment
of the loan on due date/s, the bank and/or the
Reserve Bank of India will have an unqualified
right to disclose or publish my/our name or the
name of our company/firm/unit and its directors!
partners! proprietors as defaulters in such
manner and through such medium as the bank
or Reserve Bank of India in their absolute
discretion may think fit.
The Borrower hereby agrees and undertakes
that the amount/amounts advanced or to be
advanced by the Bank will not be used for any
purpose other than for which it has been
sanctioned/ advanced. It is distinctly understood
by the Borrower that the Borrower is hereby
expressly prohibited from using the amount
advanced and/or to be advanced or any part
thereof for any purpose other than for which it
has been advanced sanctioned.

It is distinctly understood that I/We take full

responsibility for the correctness of the quality,
weight and quantity, of the goods and for their
safety and insurance and for taking such
measures or precautions as may be necessary in
this connection. l/We further agree that the Bank
shall not be responsible for any accidental or
willful wrong or fraud on the part of its employees
committed in respect of the said goods and
securities while in the custody of the bank.

The Borrower hereby agrees and undertakes

that after availment of the loan or any part of it,
the Borrower will procure and produce a
certificate from its auditors or from any auditor
the bank may nominate in this behalf, certifying
that the amount/amounts advanced by the Bank
have been, used only for the purpose for which
it has been sanctioned/ advanced and if the
Borrower fails to

And I/We hereby declare that I/We am/are the

owner! Owners of the said goods and securities
and that the

Signature

produce such certification and I or if the Bank

apprehends or has any reason to believe, (the
Banks decision in this regard being final) that the
borrower has violated or is violating or is likely to
violate this condition it shall be lawful for the Bank
and the Bank shall have a right to recall the entire
balance due under all, any and I or each of the
credit facilities or accommodations then
outstanding or any part thereof forthwith
notwithstanding anything to the contrary
contained herein or in any other document or
letter of sanction or terms and conditions and
without prejudice to any of the rights of the Bank
hereunder or under any law, rule or refutations to
initiate appropriate Civil and / or criminal action/s
against the Borrower.

Borrower shall forthwith pay the amount/s due

together with interest, interest tax, further
interest, additional interest, penal interest,
commission fees, cost, charges and expenses
incurred or to be incurred by the Bank till date of
payment
The Bank shall have an absolute discretion to
determine what amount/s within the aforesaid
limit it will advance and or/allow to be
outstanding from time to time in the respective
separate account opened/to be opened by it and
the Bank shall be at liberty to refuse to allow
further drawings or advances or to make
available any credit facility at any time without
pervious notice to the Borrower and without
assigning any reasons therefore.

The Borrower further agrees that on such

demand, the

PARTICULARS OF SECURITIES ABOVE REFERRED TO

Commodity/Variety

No. of Bags/Units

Approximate Qty Kg.

Approximate Value /Rs.

CHANNA

479BAGS/60KGS

28740KGS

@RS.45/=RS.1293300/=

CHANNA

320BAGS/50KGS

16000KGS

@RS.45/=RS.720000/=

0BAGS/KGS

0KGS

@RS./=RS.0/=

TOTAL

RS.2013300/=

.
Signature of Borrower(s)

CONSENT-CUMAUTHORIZATION (CAL.A)
l/We, understand that as a pre-condition relating
to grant of and/or continuing availment of the
loans/ advances/other non-fund based credit
facilities to/by me/us, the Indian Overseas Bank,
requires my/our consent for the disclosure by the
bank of, information and data relating to me/us of
the credit facility availed of/to be availed by
me/us, obligations assumed/to be assumed, by
me/us in relation thereto and default, if any
committed by me/us, in discharge thereof.

as the Indian Overseas Bank may deem

appropriate and necessary, to disclose and
furnish to Credit Information Bureau (India) Ltd
and any other agency authorised in this behalf by
RBI.
3. l/We, declare that the information and data
furnished by me/us to the Indian Overseas Bank
are true and correct.
4. l/We, undertake that:

2.

Accordingly, I/We hereby agree and give

consent for the disclosure by the Indian
Overseas Bank of all
or any such:
(a) Information and data relating to me/us:
(b) the information of data relating to any credit
facility availed of/to be availed, by me/us and
(c) default, if any, committed by me/us, in
discharge of my/our such obligation.

(b) the. Credit Information Bureau (India) Ltd.

and any other agency so authorised may furnish
for consideration, the processed information and
data or products thereof prepared by them, to
banks/ financial institutions and other credit
grantors or registered users, as may be
specified by the Reserve Bank in this behalf.
The expression bank includes lending
institutions for the purpose.

a) the Credit Information Bureau (India) Ltd. and

any other agency so authorised may use, process
the said information and data disclosed by the
Bank in the manner as deemed fit by them; and

.
Signature of Borrower(s)

Indian Overseas Bank

AGREEMENT FOR ADVANCES AGAINST PLEDGE OF WAREHOUSE RECEIPTS

Place : BELLARY
Date :11/02/2016
The Manager,
Indian Overseas Bank
Bellary.
Dear Sirs,
I / we hereby acknowledge to have delivered to you
WAREHOUSE
RECEIPT
NO.201600018
DATED11/02/2016
ISSUED BY M/S SREE
SESHADRI COLD STORAGE PVT., LTD., BELLARY
documents of title to goods described in general terms
in the schedule hereto as security for due repayment
of the debt due by me/us M LEELAVATHI for sum of
990000/= Rupees NINE LAKHS NINTY THOUSANDS
ONLY by way of principal and of interest thereon at
the rate of 10.25% per annum or such rate as may be
fixed by the Bank from time to time and all charges to
be made by you in connection therewith and also all
necessary expenses (ordinary as well as
extraordinary) costs and charges which may be
incurred by you in respect of the possession or for the
preservation of the said goods / documents of title to
goods.
2. l/we agree that in the event of my/our failing to pay
you on demand the said sum of Rupees NINE LAKHS
NINTY THOUSANDS ONLY together with interest
thereon and all costs charges and expenses incurred
by you in connection there with or in

F-375

respect of the possession of the goods documents of

title to goods, or in the event of my/our failure to
observe or perform any of the terms and conditions
hereof, you shall be entitled without any previous notice
to me/us or consent on my/our part (notwithstanding
any notice required by law or otherwise to be given the
right to which notice is hereby expressly waived by
me/us) and without prejudice to any of your other rights
or remedies to sell or otherwise, dispose of either by
public auction or private contract as you may consider
advisable at any time or times the goods pledged as
aforesaid or any part or parts thereof and to appropriate
the net sale proceeds in the first instance towards the
costs, charges and expenses. due to you for the
keeping of and selling the said goods and then towards
the debt due and all interest and charges thereon. If
after appropriation made as above, any surplus
remains, you shall be at liberty to apply and appropriate
the amount against any other debts or liabilities of
mine/ours to you, whether alone or jointly with any
persons of firm (whether as principal debtors or as
surety) whether the same be secured or not, and
whether such debts had become due or not. You shall
have also the right without any previous notice to me/us
to set-off or appropriate any sum or sums of money
standing to my/our credit in any
7

4.

account at any office of your bank towards the

debt due by me/us, in the event of my/our failure
to pay the debt on demand or in the event of any
deficit existing even after appropriating the sale
proceeds of the goods.
I/We agree that I/We shall accept without
question the Banks accounts of such sale or
sales or other transactions signed by any
authorised officer of the Bank as sufficient proof
of the amount realised by the sale or sales and
the costs, charges and expenses incurred in
connection therewith.

Other wise you shall be entitled to recover and

receive all monies payable in respect of the
insurance and appropriate it towards the debt due
by me/us and the previous Clause (2) supra shall
also apply in such cases as if there had been a
realization of the value of the goods by sale.
8

I/We agree that the Bank shall not be

responsible for any loss from or through any
Brokers or Auctioneers employed in the sale or
sales of the said goods or in any other manner
whatsoever in respect of the said goods.
I/We hereby engage and undertake to maintain
at all times in favour of the Banks a margin of
40% between the market value from time to time
of the goods and the balance due to you from
time to time. Such margin is to be calculated on
the market value of the goods as fixed by you
from time to time and is to be maintained by
me/us either by the delivery by me/us of further
security to be approved by you or by cash
payment by mel us of sufficient sum so to
maintain unimpaired the said margin. n
assessing the market value of the goods and
arriving at the loan able value of the goods
pledged after reserving the requisite margin, you
shall be the sole Judge.

I/We further agree that, notwithstanding the

discharge of the debt due by me/us as security for
payment of which I/We have pledged with you the
goods documents of title to goods mentioned in
the schedule here to you shall have the right to
retain and hold such goods which may remain in
my/our possession at the time of the discharge of
the debt for which they were originally pledged as
and by way of security for all other debts or
liabilities of mine/ours owing to you on any account
at any office of the Bank (whether singly or jointly,
whether as principal debtor or as surety) and you
shall have all the rights of a pledge over the said
goods in respect of such debts or liabilities and all
such, powers and discretions as are exercisable
by you in respect of the goods so remaining.
I/We agree that you shall not be required to sell
the goods pledged before suing me/us on the debt
due, as it is purely optional on your part so to do
and that we shall not dispute your right to sue me/
us on the debt due, retaining the goods/documents
of title to goods pledged by me/us as security.

I/We agree that you shall not be answerable or

responsible for any damage or depreciation which
the said goods and property may suffer while in
your possession and that we shall not also hold
We undertake to insure and to keep insured the 10 you responsible for any loss or shortage or dimi
said goods at all times and from time to time its
nution in quantity or weight of the goods caused by
full value against fire and all other risks as
theft, burglar3 or any other cause and that such
required by you with Insurance companies
loss or damages or depreciation or diminution shall
approved by you and to deliver to you the policy
be suffered and borne by me/us wholly.
or policies of Insurance duly transferred in your
I/We hereby acknowledge that you have accepted
favour. In the event of my/ our failure to do so,
pledge of the goods hereunder on the distinct
you shall be entitled to insure the said goods at
understanding that you shall not be held liable to
my/our expense and on my/our account and
me/us or my/our heirs, assignees, administrators
debit the charges to my/our account and I/We
or executors or any person claiming right or title to
shall be bound to repay you on demand all such 11
sums so paid by you or debited to my/our
account.
In the event of loss or destruction by fire or

the goods under or through me/us for

inspect, through its officers, the goods under lien
accountability on the ground of any shortage of
to the Bank during the hours of business; that the
any quantity or any defect or variation in the
Warehouseman shall give notice to the Bank in
quality, nature, condition and contents of the said
case of any loss or damage to the goods when it is
goods as represented by me/us and that the
in deposit in the Warehouse and before taking any
pledge of the goods was taken by you on the
action to auction the goods deteriorating or about
faith of my! our representation as to the quantity,
to deteriorate in the warehouse in accordance with
quality, condition, nature and contents of the said
the State/Central Warehouse rules.
goods and without verification of the correctness
I/We agree to indemnify you and keep you
of my/our representation on the strength of which
15 indemnified against all losses, damages, claims,
wholly you were induced to act by me/us
demands, costs, charges and expenses sustained
(notwithstanding any certificate of any godown
by you or made against you in respect of the
keeper or other employee of the Bank
goods pledged under this instrument.
acknowledging receipt of goods as represented
I/We further agree that the security delivered to
by me/us or delivery to the Bank).
16 you from time to time shall be security to you for
12 I/We hereby declare that I/We have every right to
the repayment of the ultimate balance outstanding
unpaid in the loan/overdraft/cash credit account
pledge the goods/documents of title to goods
and I am /We are to remain liable for the balance
hereby pledged and to create a valid pledge
not withstanding the fact that by payments made
thereof in your favour and that there are no
into the account, the loan/overdraft /cash credit
encumbrances, lien or attachment of any kind or
may stand reduced or extinguished other balance
any sort, over the same.
in the said accounts brought to credit from time to
13 I/We agree that all other securities given by
time or at any time.
me/us on any other account or in respect of any
I/We hereby accept that this pledge of mine/ours;
other transaction of mine/ours with you shall, in
carries with it your right to repledge the said goods
so far as the same shall not have been exhaust, 17 to which I/We hereby expressly give my/our
be available to you as further security for the
consent.
debt or liability secured under this instrument of
I/We hereby agree as a pre-condition of the loan!
14 pledge.I/We agree to have the Banks lien noted
in the Warehouse Certificate and deliver the 18 advances given to me/us by the bank that in case
I/We commit default in the repayment of the loan!
same to you before drawing any advance
advances or in the repayment of interest thereon
together with an undertaking by Warehouseman
or any of the agreed installment of the loan on due
to the following effect that the goods or any part
date/s, the bank and/or the Reserve Bank of India
thereof will not be permitted to be removed or
will have an unqualified right to disclose or publish
dealt with from the warehouse in any manner by,
my/our name or the name of our company/firm!
the depositor without the written permission of
unit and its directors/partners/proprietors and
the Bank previously obtained; and that
defaulters in such manner and through such
notwithstanding any agreement to the contrary
medium as the bank or Reserve Bank of India in
between the depositor without the written
their absolute discreion may think fit.
permission of the Bank previously obtained; and
that notwithstanding any agreement to the
contrary
between
the
depositor
and
warehouseman the goods will be delivered to the
Bank on demand without any reference to the
depositor or his consent; the Bank is at liberty to

SCHEDULE
Description of Document

WARE HOUSE RECEIPT NO.201600018 DATED.11/02/2016

ISSUEDBY M/S SREE SESHADRI COLD STORAGE PVT.LTD.,
BELLARY

Signature .
Address
Sri.M LEELAVATHI
S/O,W/O.W/O LOKANATH NAIDU
PLAT NO:17
WARD NO.30
EAST 2ND CROSS
CHURCHROAD
VIDYANAGAR BELLARY TALUK & DST

10

Sree Seshadri Cold Storage Pvt. Ltd.,

Plot No. 1347, 163P, 182P, 183, KIADB Industrial Area, 2nd Main,
3rd Stage, Mundargi, Bellary.

LETTER OF UNDERTAKING
The Manager,
Indian Overseas Bank,
Bellary.
Dear,
We wish to inform that MR/MRS. M LEELAVATHI S/O,W/OW/O
LOKANATH NAIDU,EAST 2ND CROSS is approaching you to sanction a Loan of
Rs990000/= against the pledge of our Cold Storage Bond No. 201600018 dated
11/02/2016 Issued by us for the Value of Rs.2013300/= We have noted your lien in
the Bond and we hereby assure that we will release of your Banks lien.
We undertake and agree not to deliver or transfer or part with any of the goods
held under trust for the Bank to any of the specified borrowers of the Bank or to
their representatives or agents at any time except the written consent and authorization
of the officials of the Banks for release of the specified goods. We accept,
acknowledge and recognize first charge of the Bank over the goods.
Thanking you,
Yours faithfully,
Authorized Signatory/ Manager.

Schedule
Name and Address of the Party

M LEELAVATHI
W/O LOKANATH NAIDU
PLAT NO:17
WARD NO.30
EAST 2ND CROSS

Description of Goods

No. of Bags

CHANNA
CHANNA

479BAGS/60KGS
320BAGS/50KGS
0BAGS/KGS

Present
market
value Total
Rs.

Particulars
of
Remarks
Insurance

2013300/=

Authorized Signatory /Manager

23

Indian Overseas Bank, Bellary.

Date : 11/02/2016
To,
Sree Seshadri Cold Storage Pvt. Ltd., Bellary.
Plot No. 1347, 163P, 182P, 183, KIADB Industrial Area,
2nd Main, 3rd Stage, Mundargi, Bellary.
Dear Sir,

Notice of the Banks Lien on Specified Goods.

Please take notice that

MR/MRS. M LEELAVATHI S/O,W/OW/O LOKANATH

NAIDU,EAST 2ND CROSS

has/have assigned and endorsed over to the Bank and deposited

with this Bank as Security for advances granted to him/ them against Warehouse Receipt
No201600018 date 11/02/2016 issued by you covering Stocks.
Commodity/Variety

No. of Bags/Units

Approximate
Qty Kg.

CHANNA

479BAGS/60KGS

28740KGS

CHANNA

320BAGS/50KGS

16000KGS

0BAGS/KGS

0KGS

The aforesaid goods or any part thereof shall not at any time be delivered by you except on
the production of your receipt above mentioned duly discharged by the Bank or with the consent of
this Bank. This notice is sent to you in duplicate and we shall be glad if you will please return to us
one copy thereof duly signed by you, in taken of your having received it and of your agreement (a) to
hold such goods in future as Warehouseman for the Indian Overseas Bank and to continue so to hold
the same notwithstanding that the period up to which the goods have been accepted for deposit shall
have expired, and (b) not to sell, hypothecate, charge or otherwise deal with or dispose of the goods,
except where, in the case of goods of perishable nature, it is apprehended that by continued storage
they will deteriorate greatly in value or injure other property, in which event, you shall give such notice
as in reasonable and possible under the circumstances to the Indian Overseas Bank, being lawful
holder of the Warehouse receipt and also to

MR/MRS. M LEELAVATHI S/O,W/OW/O

LOKANATH NAIDU,EAST 2ND CROSS

the original depositor requiring the goods to be

received from the Warehouse and if upon their failing to do so, your depose of the goods by public
sale the sale proceeds, less any costs incurred and charges due to you, shall be held by you on
account of the Indian Overseas Bank and shall be payable to the said Bank.

Yours faithfully,
F-374
Senior Manager

11

The Banks lien has been noticed in Warehouse Register. The mention goods
or any part thereof will not be permitted to be received or dealt with from the
Warehouse in any manner by the depositor without the written permission of the
Bank previously obtained. Not with standing any agreement to the contrary with the
depositor, the goods will be delivered to the Bank on demand without any reference
to the depositor of his consent. The Bank is at liberty to inspect through its Officers,
the goods under lien to them during the hours of business. The Bank will be notified
of any loss or damage to the goods before taking any action to auction the goods in
accordance with State/Central Government Warehouse Rules.

Date : 11/02/2016.

Signature of Warehouse

12

INDIAN OVERSEAS BANK

P.No.45,Ananthapur Road ,BELLARY - 583101
PHONE 08392-275634,279928
Ref: ADVI

DATE: 11/02/2016

To

M/s/Mr./Ms./

SRI/SMT.M LEELAVATHI
S/O,W/O.W/O LOKANATH NAIDU
PLAT NO:17,WARD NO.30
EAST 2ND CROSS,BELLARY
Sir (s)
CREDIT SANCTION ADVICE
1.
We refer to your loan application dated 11/02/2016
we also refer to the related
correspondence and discussions seeking clarifications on various points raised by you/ us and
the consensus of the terms and conditions and the credit facilities arrived.
We have pleasure in advising sanction of credit facilities as appended to this
communication on terms and conditions stipulated thereon.
-

As and when you avail the said credit facilities, renewal of the limits at our option is
due (i) at the end of twelve months from the date of this communication or (ii) from
the date of our letter, if any, advising revalidation of this sanction:
2.
Please note that:
2.a. bank reserves its right to amend, alter the terms and conditions or withdraw all or any of
the credit limits sanctioned at any time at its discretion without assigning any reasons
whatsoever.
2.b. the limits shall not be operative until specified documents are executed both by loanee /s
and guarantor/s and terms and conditions of sanction are complied with as per the
requirements of Sanctioning Authority / disbursing branch (es).
2.c. the credit facility should be utilised for the specific purpose for which the same has been
sanctioned and. if the bank has reason to believe that you have violated, or apprehends that
you are about to violate the said conditions the Bank shall have the option to exercise its right
to recall the entire loan or any part there of at once, in addition to its right to withdraw the
undrawn limits not withstanding anything contrary contained in this Sanction Advice. It is
affirmed that this right is without prejudice to the Bank's right to demand the Loan amount
for violation of other terms and conditions of the sanction and / or the terms reflected in the
loan / security documents to be executed by you.
13

2.d. the referred credit, facility is extended to you solely at the Bank's discretion. In addition
to what is stated in para 2.c., the Bank reserves the right to withdraw partially / wholly or
regulate such credit facility on the occurrence of anyone or all of the following events:
2.d.l. your non-compliance with terms and conditions of sanction
2.d.2. indulging in drawings beyond sanctioned limits.
2.d.3. issuing cheques for purposes other than specifically agreed.
2.d.4. indulging in large cash withdrawals not commensurate with the requirements
estimated.
2.d.5. indulging in activities with are detrimental to the image / interest of the Bank
viz., acts that are unlawful, malafide etc.
2.e. In terms of directives in force now or as may be modified from time to time default in
repayment of instalments and / or servicing of interest for a notified period, automatically
results in categorisation of all your borrowal accounts as Non Performing Asset (NPA). Such
categorisation renders you ineligible from seeking.
2.e.1. additional / adhoc credit facilities (Fund based and / or Nonfund based).
2.e.2. waiver of overdue interest. 2.e.3.
soft 2.e.3 recovery measures etc .
2.f. bank is under no obligation to consider your request, if any, for additional Credit facility
(ies) without a comprehensive review of the existing credit limits, operations in the accounts
and past performance in meeting commitments such as servicing of interest charged to the
loan account(s) repayment of loan instalments, prompt submission of stock-statements.,
upkeep of records of inventory and books of accounts, upkeep of machinery financed,
honouring commitments under LC / LG promptly etc, as applicable to the purpose for which
credit facility has been extended.
2.g. in the event of your borrowal account being overdrawn without prior agreement or
exceeding the agreed borrowing limit or in the event of delay / non-submission of stock
statement, Bank shall charge overdue interest at the rates specified from time to time .
The amount of such overdue interest debited to the loan account will find a place in the
Statement of Account received by you (presently such overdue interest is levied @.2..p.a. on
the amount due).
2.h.1. in the case of borrowal accounts where interest rate is linked to BPLR (Bench mark
Prime Lending Rate),or where fixed interest rate is specified by the Bank, changes if any, in
the Bank's BPLR and / or the spread (Viz. Plus or minus percentage factor to BPLR) or fixed
rate specified by the Bank, shall be conveyed through Press Report or Publicity through
media, or a suitable 'Notice' placed in the banking-hall of the branch and such mode of
communication shall be construed as sufficient "Notice" to you about the revision effected
in the interest rates.

14

2.h.2. The applicable interest rate/s will be charged with monthly/quarterly/half

yearly/annual rests, or such other rates and rests as may be notified by the Bank from time to
time.
2.h.3 The interest will be calculated and charged as per the daily balances, to your borrowal
account/s until the same is fully liquidated and the interest so charged will be paid by you as
per the terms agreed or as and when demanded by the Bank.
2.i. prepayment of your borrowal accounts will be subjected to the applicable repayment
charges and revised terms and conditions.
2.j. copies of loan documents to be executed by you for the credit facility(ies) referred herein,
will be provided at your cost, on receipt of a specific request in writing to the undersigned.

2.k. upon availment of credit facility on terms agreed, you have to produce necessary
documentary evidence for end-use and facilitate verification by the bank. As and when called
for, a certificate from your Auditor regarding end-use of the loan availed should be produced
to the bank.
2.1. change if any, in the constitution of your organisation viz Reconstitution of partnership
Firm or conversion of Private Limited Company into a Public Limited Company or changes
in Constitution / Directors, proposals for merger / takeover etc., should be advised
immediately to us in writing. The Bank has the sole discretion to accept or reject such
reconstitution / conversion/ changes and until such time, the same will have the right to
suspend the operation of the limits and in the event, the bank does not accept / recognise such
reconstitution / conversion / changes, the bank will have the right to recall the entire loans, in
addition to the right to withdraw the undrawn limits.
2.m. all your borrowal accounts with our branch / bank will be subjected to the application of
disclosure -norms prescribed by RBI.
2.n. this credit sanction is valid for an availment- period six months from the date of this
communication before which the said credit facilities are to be availed. Unless availed within
the period of six months, this sanction requires revalidation by the Sanctioning Authority,
When the necessity for revalidation arises, you have to submit a written request letter to the
branch furnishing the reasons for the non-availment of credit facilities even after lapse of six
months from the date of this communication. Such request for revalidation will be evaluated by
the Sanctioning Authority and the validation of availment - period of sanction or otherwise will
be communicated to you. It is to be noted that request for revalidation of sanction will be
entertained only once.
2.p. your borrowal accounts are subject to the applicability of KYC (Know Your Customer)
guidelines in terms of directives from RBI currently in force. We seek your co-operation in
furnishing the required personal information / data under the requirements of KYC guidelines as
and when the same is sought by us.
15

2.Q. In case the borrower is a company falling under the purview of Campanies Act 1956, the
release of Credit Facilities will be subject to the Company holding valid Corporate Identity
Number (CIN) and all Directors of the Company holding Directors Identification Number
(DIN).
2.q.1 In respect of loan accounts (with credit limits of above Rupees Five Lacs) which are
renewed with delay, processing charges shall be collected proportionately for the period from the
due date of renewal up to the date of actual renewal as per the schedule of charges prescribed.
2.q.2 In addition to the processing charges for the lapsed period, processing charges shall also be
collected for one year from the date of actual renewal.
2.q.3 Processing charges calculated as above is appended:
For the lapsed period

Rs. /=

For the next one year till( 11/02/2016

date)

Rs.3000 /=

Total

Rs.3000 /=

This amount is non-refundable even if you do not take up the limits Renewed or foreclose the
loan/ facilities account within the period mentioned.
2.r. The information/data pertaining to all your borrowal accounts shall be furnished to Credit
Information Bureau of India Limited (CIBIL) and other Agencies/Authorities, from time to time in
terms of mandatory provision in force.
3.

Guarantor/s is/are advised to take notice that the bank shall have the right to exercise
discretion with regard to allowing the loanee to withdraw amount from the loan account
over and above the limit sanctioned and the guarantee to be extended shall cover such an
eventuality also.

4.

This Sanction Advice is being delivered to you in duplicate. Kindly return the duplicate
copy of this Sanction Advice duly signed on all pages by you as also by the guarantor/s in
token of your acceptance of Credit facility/ facilities sanctioned to you on the Terms and
Conditions specified herein.

Deputy / Second Line Manager

First Line Manager

16

Name of Facility

Limits

Margin

Interest Rate

990000/=
(RUPEES.NINE
LAKHS NINTY
THOUSANDS
ONLY ONLY)

1023300/=

AGRICULTURAL ADVANCES
SHORT TERM LOAN AGAINST
WAREHOUSE RECEIPTS
THROUGH M/s SREE SESHADRI
COLD STORAGE PVT LTD

BPLR -0.5%
Presently 10.25%

Prime Security : Against pledge of ware house receipt of the following commodity,
Commodity/Variety

No. of Bags/Units

Approximate
Qty Kg.

CHANNA

479BAGS/60KGS

28740KGS

CHANNA

320BAGS/50KGS

16000KGS

0BAGS/KGS

0KGS

Repayment of Term Loan :

The loan should be repaid within 12 months after date of first disbursement. Holiday period interest
should be serviced as and when debited during the holiday period.

Guarantors :-

Terms and conditions

Other Terms and conditions:
1.You should pay/ regularize the account if the prices of goods tend to fall
Without allowing us to recourse to forced sale of goods by Bank.
2. The Goods deposited in the warehouse should be comprehensively insured for the full
value with the Banks clause by Warehouse.
Date :

Deputy/Second line manager

First line Manager

17

DEMAND PROMISSORY NOTE

RS. 990000/-

PLACE: BELLARY
DATE: 11/02/2016

On Demand I/We M LEELAVATHI S/O W/O LOKANATH NAIDU,EAST 2ND CROSS

jointly and severally Promise to pay INDIAN OVERSEAS BANK, or order, the sum of
Rupees 990000/-(Rupees. NINE LAKHS NINTY THOUSANDS ONLY ONLY) for
value received together with interest thereon at the rate of -0.5% percent over/below the
Banks Benchmark Prime Lending Rate as may be revised by the Bank from time to time
(which at present is 9.70%) and the present effective rate of interest at

percent

per annum from this date until repayment in full with HALF YEARLY rests or at such rates
and rests as may be revised by the Bank on its own or as per the instruction of the Reserve
Bank of India from time to time.

(Signature of the Borrower/s)

ANNEXURE-II
INDIAN OVERSEAS BANK

BELLARY BRANCH
Name of the Applicant : M LEELAVATHI
Appraisal Form for Advance against Warehouse Receipts
1.
Sl.No.
1
2
3

Details of crop produce & storage :

Name of the crop
Quantity
CHANNA

28740

CHANNA

16000

Market Value
(Rs.)

M S P Value
(Rs.)

1293300
720000

2013300
TOTAL
Sl.No. Warehouse/Cold
Storage Receipt
No.
201600018
1

Name
of
State/Centre
Ware-house
Corporation/Private unit issued the Receipt
M/S SREE SESHADRI COLD STORAGE PVT., BELLARY.

Whether our lien is marked on Warehouse Receipt

Yes/No

If the warehouse/cold storage receipt is from private unit?

:
Yes/No
(An approved List of Warehouses/Cold storages from other banks/NABARD to be
obtained and maintained by Ros)
2. Proof of land record or lease agreement & Details : 152 TOTAL 12.03 ACARES
3. Declared that produce is free from any kind
of charge to others
4. Total value of all the produce
Less Margin 40%
Net eligible loan
Terms of Repayment proposed

YES

Rs. 2013300/=

Rs.1023300

: Rs.990000
: 12 Month ends on : 09/02/2017

Signature of Appraising Officer

SENIOR MANAGER
19

CERTIFICATE OF DOCUMENTATION FOR ADVANCES

FROM

TO

NAME
: UDAY KUMAR
ROLL NO
:
51586
DESIGNATION: MANAGER II LINE

: THE SENIOR MANAGER

: INDIAN OVERSEAS BANK
: BELLARY BRANCH

=======================================================================

CREDIT FACILITIES ADVANCE DOCUMENTS

ACCOUNT: M LEELAVATHI
FACILITY: CHANNA
AMOUNT: 9,90,000
========================================================================

I hereby certify that the relevant advance documents as per instructions in the
Book of Instructions/ Documentation Manual and Circulars issued from time to
time/Sanction Endorsements have been obtained from the captioned borrower in
respect

of

the

loan

(Indicate

nature

of

the

loan)

___________________________________ facilities sanctioned by you/RO/CO

vide sanction No: ___________________________dated ________________
and that the documents are complete in all respects.

(SIGNATURE)