Common Contracts

MOBILOAN (VEHICLE LOAN) CUM HYPOTHECATION AGREEMENT BY

October 12th, 2016

• Filed
  October 12th, 2016

THIS AGREEMENT is made at the place and date as specified in Schedule I (a) BY such persons, whose name(s) and address(es) are as specified in Schedule I (b) (hereinafter referred to as the “Borrower” which expression shall unless repugnant to the context or meaning thereof include its successors and assigns and all persons deriving/ claiming title there under) IN FAVOUR OF The South Indian Bank Ltd, a banking company incorporated under the Companies Act, 1913 and having its Registered Office at “SIB House”, T.B. Road, Mission Quarters, Thrissur and one of its Branch Offices at the place specified in Schedule I (c) (hereinafter referred to as the “Bank” which expression shall unless repugnant to the context or meaning thereof include its successors and assigns). WHEREAS the Borrower has applied to the Bank for a loan/ advance of the amount more particularly described under Schedule I (d) of this Agreement under South Indian Bank‟s Vehicle Loan Scheme for the purchase of the Vehicle sta