LETTER OF LIEN ON DEPOSIT CERTIFICATES
On the Security of Deposit(s) amounting to Rs. ________ made in your bank in my/our name at your _______________ Branch, I/we request you to please allow me/us/Mr/Messrs _____________ a Demand Loan of Rs. __________. The Deposit Certificate(s) issued by you in my/our favour as hereunder in respect of the said deposit(s) is/are enclosed duly discharged to be kept as security in your possession. Deposit Certificate No. ________________ Amount___________ I/We agree that on the renewal of the Promissory Note in the account, the said Deposit Certificate(s) will remain as security for the renewed Promissory Note in the same way as for the original Promissory Note.
I/We hereby undertake not to call back the Deposit(s) until the loan with interest accrued thereon made by you to me/us/Mr/Messrs ____________ is fully adjusted. If any time you wish to call back loan you are at liberty to do so and if I/We/Mr/ Messrs _______________ fail to repay the loan with interest accrued thereon or any portion thereof I/we hereby authorised you to appropriate the amount at any time that may be necessary to get the loan granted to me/us/Mr/Messrs ________________ adjusted from the Deposit Certificate(s) handed over to you as security.
Encl.: As above