Letter of Authority (Joint Mortgage)
Official empowerment for Lead Banks to act as agents in joint charge creation and title deed custody.
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To,
Industrial Development Bank of India
445 Prince Pass
Richmond, Connecticut - 77029
United States
Dated: 17-Oct-2026
Ref: LOA-JM/2026/ABC
Dear Sirs,
Sub: Authorization for creation of Joint Mortgage in favor of IDBI, IFCI, ICICI and others by deposit of title deeds.
In connection with the various term loans aggregating to Rs 650 Lacs 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 |
| AGGREGATE TOTAL | 650 |
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 the 17 day of October, 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 in the table above for the purpose of creating and extending a Joint Equitable Mortgage to secure the aforesaid term loans.
This authority remains irrevocable until the entire secured debt is liquidated and no fresh borrowings are contemplated under the consortium arrangement.
Yours faithfully,
For ABC Cements Corp
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