Common Contracts
1 similar Hypothecation Agreement contracts
FORM GFR 24Hypothecation Agreement • January 1st, 2000
expression shall include his heirs, administrators, executors and legal representatives) of the one part and the PRESIDENT of India (hereinafter called the “President” which expression shall include his successors and assigns) of the other part. WHEREAS the Borrower has applied for and has been granted an advance of Rupees to purchase a Motor Car/PC and/or to pay customs duty in respect of a (the) Motor Car/PC on the terms of Rules 199 to 211 of the General Financial Rules, 1963, of the Central Government (hereinafter referred to as “the said Rules” which expression shall include any amendment thereof or a addition thereto for the time being in force) AND WHEREAS one of the conditions upon which the said advance has been/was granted to the Borrower is/was that the Borrower will/would Hypothecate the said Motor Car/PC to the President as Security for the amount lent to the Borrower and WHEREAS the Borrower has purchased and/or paid customs duty with or partly with the amount so advanced
