Whether the allotted plot can be mortgaged to any financial institution by the allottee for raising Capital Loan or Working Capital?
Yes, the allotted plot can be mortgaged to any financial institution like Nationalised Banks, Financial institutions owned by Govt. with the prior permission of the Department. For granting mortgage permission the requirements are: Confirmation from the bank/institution from which loan is to be availed. Affidavit for non availing mortgage permission earlier or relinquishment as the case may be, certificate on letter head from the allottee for non violation of any or one of the lease agreement, details of manufacturing activity of their units.
Related Questions
- Is it illegal to loan money out of a 128 account for funding capital improvements on campus, and for the 102 fund to pay interest on such a loan?
- Whether the allotted plot can be mortgaged to any financial institution by the allottee for raising Capital Loan or Working Capital?
- How can an entity help me in raising capital? Will I have stock to sell to investors to help raise funds?
