EXTENSION OF EQUITABLE MORTGAGE

ON THIS ____ OF ____________ 2014 Shri Shanjay Kapoor & Shri P Y Manjure
Directors of the company are authorized representative of the M/s The Freyssinet
Prestressed Concrete Company Limited, registered under the provision of the
Companies Act 1956 having registered office at 6-B, 6 th Floor, Sterling Center, Dr. Annie
Besand Road, Worli, Mumbai 400018, (herein after referred as Borrower / Mortgagor)
attended the office of Punjab National Bank at Pedder Road Branch, Mumbai-400026
(herein after referred to as The Bank) on ___ Day of ____ 2014 at ____ am/pm and
hereby confirmed to Mrs. Shobha Kathuria Chief Manager of the said Branch in the
presence of Shri. _______________________of the Punjab National Bank, Pedder
Road Branch, Mumbai-400026 and constructive delivered to and deposited with her, the
original documents of title, evidences, deeds and writing more particularly described in
Schedule A &A1 and Schedule B & B1 hereunder written in respect of following
properties :1. Office premises No. 6/B of built up area of 3183.00 Sq. ft, located at 6 th floor of
building known as Sterling Centre in the New Sterling Centre Commercial Premises Cooperation Society Ltd. at Dr. Annie Besant Road, Worli in the registration district and sub
district of Mumbai.
2. All the land bearing Plot No. 114 admeasuring about 831.78 sq. yards i.e. 699.06 sq.
meters and building thereon admeasuring about 2624 sq. ft. built up area on the land
bearing Survey No. 31 part, 34, 35, and 36 of Village Navaghar, Taluka and Dist Thane.
WHEREAS Borrower/ Mortgager company is enjoying the various credit facilities
aggregating to Rs. 3372.70 lacs (Rupees Three Thousand Three Hundred and Seventy
Two Lacs) sanctioned by the Bank by various sanction letters and last enhancement
was made by sanction letter dated 20/01/2011 whereby the aggregate limites of Rs.
3372.70 lacs (Rupees Three Thousand Three Hundred and Seventy Two Lacs) were
sanction to the borrower/ Mortgagor

AND WHEREAS at the request of the Borrower/Mortgagor company the bank has
sanctioned enhancement in credit facilities by Sanction Letter Dated 09/05/2013 hereto
annexed and Modification Letter Dated 30/09/2013 hereto annexed whereby aggregate
of various credit limits increased from Rs. 3372.70 lacs to Rs. 4500. 00 together with
cost, interest, other charges as under
(Rs. In Lacs)
Limits
TL
WC (Fund Based)
Non Fund Based
Total / Ceiling

Existing
222.70
1200.00
1950.00
3372.70

Revised Sanctioned
100.00
1450.00
2950.00
4500.00

AND WHEREAS the Borrower / Mortgagor Company has accepted the terms and
conditions of the sanction and sign the acceptance of the terms and conditions of the
sanction.
AND WEREAS one of the condition of the sanction is that the Borrower / Mortgagor
Company has to extend an equitable mortgage of Title Deeds created on 15/09/2006 by
actual delivery and extended by constructive delivery 15-09-2006, 20-07-2007, 21-082009, 09-02-2011 and lastly on 27-09-2012 in favour of the bank with respect to the
properties which are more particularly described in Shedule B and B2 the list of title
deeds is described in Schedule B1 and B3.
AND WEREAS the borrower / Mortgagor company has agreed to extend the Equitable
Mortgage with respect to the said properties which are more particularly described in
Shedule B and B2 hereunder written.
AND WHEREAS the Borrower / Mortgagor Company hereby agreed and confirmed that
on execution of these Equitable Mortgage, in terms of sanction letter dated 09/05/2013
and Modification letter dated 30/09/2013 issued by the Bank to the Borrower/
Mortgagor, the Borrower/ Mortgagor represented by their authorized representative Shri
Sanjay Kapoor and Shri P. Y. Manjure, Directors authorized by the Board Resolutions
passed by Borrower / Mortgagor herein on _____________ have reassured and
reconfirmed that the mortgage charge created and extended with respect to properties

more particularly described in the Schedule A & B hereunder written in favour of the
Bank originally on 15.09.2006 by actual delivery of Original title deeds of the properties
more particularly described in the Schedule A & B hereunder and was extended on
20.07.2007 and 21.08.2009 and 09.02.2011 and 11.08.2011 by constructive delivery of
deposit of title deeds more particularly described in the Schedule A & B hereunder
written stand extended to secure the aggregate limits of Rs. 4,500.00 Lakhs ( Rs. Four
Thousand Five Hundred Lakhs Only). The certified copy of the Board Resolution
passed in the Board meeting held on _______________ is annexed herewith as
SCHEDULE C.

AND WHEREAS the Borrower / Mortgagor Company confirm having already agreed
with you on 15-09-2006 And on 20-07-2007, 21-08-2009, 09-02-2011, 27-09-2012 that
the title deeds of the said immovable properties already deposited with you on 15-092006 and 20-07-2007, 21-08-2009, 09-02-2011, 27-09-2012 shall continue to be held
with you as additional security for the total liability of Rs. 45,00,00,000.00 (Rupees Forty
Five Crores only) due from time to time in respect of the aforesaid additional limits
besides interest and other charges.
While making the deposit of title deeds, the said Shri. Sanjay Kapoor and Shri P. Y.
Manjure, Directors of the Borrower / Mortgagor Company stated that they are making
the deposit of title deeds with an intention to create security by way of Mortgage by
deposit of title deeds in respect of the said properties in favour of The Bank as a
security to interalia, secure the due repayment discharge and redemption in respect of
the Credit Facilities of Rs. . 4,500.00 Lakhs (Rs. Four Thousand Five Hundred Lakhs
Only). together with interest, compound interest, interest tax, additional/further interest
in case of default, penal interest, commission, liquidated damages, premium on prepayment or on redemption costs, charges, expenses and other money payable by him
to the bank.

Shri. Sanjay Kapoor and Shri P. Y. Manjure, Directors of the Borrower / Mortgagor
Company further confirmed that they

have verified the title in respect of the said

properties to be clear and marketable free from encumbrances and that there is no
mortgage charge, lien or any other encumbrances, attached or any right or any further
demand or claim suit or action over or in respect if the said properties in favour of any
person, firm, company, body corporate, government, society or any entity whatsoever
and that and he further confirmed that no proceeding are pending or initiated against
borrower under Income Tax Act, 1923 or any other law in force in India for the time
being and that nor notice has been received by or served on borrower under Rule 2, 16,
21 & 51 or under any other Rules of the Second Schedule of The Income Tax Act, 1923
and/or under any other law and that there is no pending attachments whatsoever levied,
issued or initiated against the said properties. The Chief Manager of the Bank accepted
such deposit of title deeds made by the said borrower as security for the due payable in
respect of the Credit Limits Rs. 4,500.00 Lakhs (Rs. Four Thousand Five Hundred
Lakhs Only). granted by the bank to the borrower company as mentioned hereinabove
together with interest, costs, charges and expenses and other moneys in the presence
of Mrs. Shobha Kathuria Chief Manager of the Bank who was present at the time of
creation of mortgage by deposit of title deeds.

THE SCHEULE A ABOVER REFFERED TO

(Description of property of Borrower / Mortgagor)
Office premises No. 6/B of built up area of 3183.00 Sq. ft, located at 6 th floor of building
known as Sterling Centre in the New Sterling Centre Commercial Premises Cooperation Society Ltd. at Dr. Annie Besant Road Worli in the registration district and sub
district of Mumbai city BSD containing by admeasuring about 2620 sq. yards i.e.
2190.58 sq. meters or their about being a portion of the larger property bearing
cadastral survey number 4 and 1/4 of worli division and bearing G ward number 14(1),
13(7), 13(5), 13(b), 13(2), 13(1), 13(6), 13(3), 13(4), and 16(2), and street number 110,
110A, 10/10B, 110C, 110D, 110E, 110F, 110G and 104, 104A, 106BG and bounded as
follows i.e. to say
On or towards East: By Dr. A. B. Road

On or towards West: By foreshore land belong to the collection of Bombay

On or towards North: By Municipal Nullah and beyond that the property bearing C.S.
No. 5
On or towards South: By property bearing C.S. number 1/3

THE SCHEULE A1 ABOVER REFFERED TO

(List of title Deeds)
1. Original share certificate No. 12 dated 13.09.1978 issued by the New Sterling
Centre Commercial Premises Co-operation Society Ltd.
2. Original Sales Agreement dated 29.12.1975 between Shapoorji Pallonji &
Company Pvt. Ltd. and M/s The Freyssinet Prestressed Concrete Co. Ltd.

THE SCHEULE B ABOVER REFFERED TO

(Description of property of Borrower/Mortgager)
All the land bearing Plot no 114 admeasuring about 831.78 sq. yards i.e. 699.06 sq.
meters and building thereon admeasuring about 2624 sq. ft. built up area on the land
bearing survey no 31 part, 34, 35, and 36 of village Navaghar Taluka and Dist Thane.

THE SCHEULE B1 ABOVER REFFERED TO

(List of title Deeds)
1. Original registered sale deed dated 23.06.2005 executed between M/s Dyne and
Rynder and M/s The Freyssinet Prestressed Concrete Co. Ltd.
2. Original registration receipt No. 3944 dated 23.06.2005

THE SCHEULE C ABOVER REFFERED TO

Certified copy of the board resolution dated _______________ of Borrower/ Mortgagor.

For Punjab National Bank,

Mrs. Shobha Kathuria

(Chief Manager)
Peddar Road Branch, Mumbai- 400026.

Witness
Name:Address:-