Letter of Authority (Joint Mortgage)
Authorizes a Lead Bank to create a Joint Mortgage by deposit of title deeds.
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Official authorization for Joint Mortgage creation.
To,
Industrial Development Bank of India
445 Prince Pass
Richmond, Connecticut - 77029
United States
Dated: 20-Feb-2026
Dear Sirs,
Sub: Letter of Authority for creation of Joint Mortgage.
In connection with the various term loans aggregating to Rs 650 Lacs sanctioned/to be sanctioned to ABC Cements Corp (the Borrower) by the following Financial Institutions:
| Financial Institution | Term Loan (Lacs) |
|---|---|
| State Financial Holdings (SFH) | 300 |
| Federal Holding Company (FHC) | 150 |
| Credit Trust (CT) | 200 |
The Borrower hereby confirms that it has deposited/undertakes to deposit the title deeds of its immovable properties with Industrial Development Bank of India on 20 February, 2026.
The Borrower further authorizes Industrial Development Bank of India to hold the said deeds for itself and also as an agent for all the other Financial Institutions mentioned above to create a Joint Equitable Mortgage.
Yours faithfully,
For ABC Cements Corp
Authorized Signatory
(Alen)
Standard Practice
This letter is typically printed on the Borrower's official letterhead and submitted to the Lead Bank at the time of depositing title deeds.