AFFIDAVIT IN LIEU OF I.T.

CLEARANCE CERTIFICATE
Annexure I to I.C. No. 6118 Dated January 25, 2021-01-25
(Draft of affidavit to be obtained where income tax Clearance Certificate not produced)
(To be executed subsequent to date of creation of E.M.)
(Where there are more than one mortgagor, this affidavit has to be suitably modified)

AFFIDAVIT
I Shri Gurdeep Kumar S/o Shri Jaggan Kumar S/o Sh. Sukhram Dass aged
29 Years, Occupation Business residing at Malout, Tehsil Malout, Distt. Sri
Muktsar Sahib, do hereby solemnly affirm and declare as under :

I am absolute owner of the immovable property situated at Nagpal Nagar,

Malout On / / , I had deposited the title deeds pertaining to my
immovable property situated at Nagpal Nagar, Malout intention to create
security for the repayment of the loans availed by me / M/s. ……….
………………………………………….. While creating the said
 -2-

equitable mortgage I had already informed the Bank that neither any proceedings
under the Income Tax Act is pending against me nor any such proceedings is
contemplated against me and that no notice under Rule 2 of Schedule II of the
Income Tax Act’s served on me and no arrears of Tax or any other sums are
pending payable by me to the Income Tax Department.

………………………….
(Deponent)

Solemnly affirm at …………………… on this ……………… day of ……………….

And the deponent signed before me.

………………………….
(Deponent)
 DECLARATION BY BORROWER (EQUITABLE MORTGAGE)
On Non-Judicial Stamp Paper of Rs. …………….. (Depending on the State Stamp Act)

DECLARATION
I/We Gurdeep Kumar S/o Shri Jaggan Kumar S/o Sh. Sukhram Dass All of
Indian inhabitant/s residing at Malout, Tehsil Malout, Distt. Sri Muktsar Sahib
do each of us hereby solemnly and sincerely declare and say as follows :
1. I am the Sole Proprietor of and carry on business in the name and firm
of Messers …………………………………….. at ………………………….
OR
We are the partners of and carry on business in the firm name and
style of Messers …………………………………. at ……………………….
OR
I along with my Co-partners Shri ………………………… carry on
business in partnership in the name firm name and style of Messers
……………………….. at …………………….
OR
I am one of the Director of Messers ………………………………..
having its Registered Office at ……………………………………..
(hereinafter referred to as “the Company” and I am authorized by a
resolution of the Board of Directors of the Company dated the
………………… day of …………….. to make this Declaration.
 -2-
2. I/We / The Company am / are is the sole and absolute owner/s of the
pieces or parcels of land or ground together with the building/s
hereditaments and premises standing thereon the Registration, Sub-
District of ………………………….. and more particularly described in
the First Schedule hereunder written (hereinafter referred to as “the
said property”) and no other person has any share, right title or interest
of any kind or nature whatsoever in the said premises.

3. I / We say that I / we the Company am / are is entitled to deal with the

said property as I /We Company like/s.

4. I/We say that I / We the Company have / has not created any
mortgage, charge or encumbrance of any kind or nature whatsoever
on or in respect of the said property. I / we further declare that the said
property is free from all encumbrances, claims or demands of any kind
of nature whatsoever. I / We further declare that no adverse claim of
any kind exists against the said property. I / We further say that I / we /
the Company have / has not received any notice of any intended or
compulsory acquisition of the said property or any notice that the said
property is reserved for any particulars purpose.

5. I/We further say that only title deeds documents or writing to the said
property which is my / our / the Company’s possession are those
specified and mentioned in the Second Schedule hereunder written
and that I / We do not have in my / our / the Company’s possession
any other title deeds, documents or writing in respect of the said
property. I / We further declare and say that I / We / the Company have
/ has not at any time deposited any of the title deeds relating to the
said property with any person or persons whomsoever as and by way
of security, equitable mortgage by deposit title deeds, charge, lien or in
any manner whatsoever and that the said property is free from all
encumbrances, claims and demands. No claim has ever been made
against me / us the Company or against the said property on the
ground of any deposit of all or any of the title deeds documents or
writings or any one or more of them as security or on any other ground
whatsoever.

6. I/We say that I / we / the Company am / are / is the absolute owner/s of

the plants engines, boilers etc. which are affixed to and / or installed
in / or the said property (hereinunder referred to as “the said plant”)
and that the said plant is free from any mortgage, charge, or
 encumbrance of any kind or nature whatsoever and I / we / the
Company am / are / is entitled to deal with to dispose of the said plant
in any manner I / we/Company like/s.

7. I/We say that there are no land revenue assessment, income-tax,

wealth tax, expenditure tax or any other taxes, cesses, dues,
assessment due and payable by me / us / the Company for which the
said property and / or the said plant is / are liable to be attached nor
have I / we / the Company received any notice under the payment of
Taxes Act. The Transfer of property (Amendment) Act. The income-tax
Act, The Wealth Tax Act, The Expenditure Tax Act, The Gift Tax Act or
any other Act issued or pending against me / us the Company over the
said property and / or the said plant.

8. I/We say that the said property and / or the said plant is / are not
subject matter of any suit or legal proceedings nor any attachment
before or after judgment nor has any trust secret or otherwise, been
created in respect of the said property and / or the said plant.
9. I/We further say that the said property is not tenanted or leased out,
and is free from any encumbrances.

10. I/We further say that Union Bank of India has given and has agreed to
continue to give me / us / the Company various banking and financial
facilities to enable me / us / the Company to carry on my / our / the
Company business on the faith of the assurance which are hereby
given viz. That I / We / The Company will not sell, exchange, partition,
mortgage, charge, encumber lease dispose of or deal with any of our
properties and the said plant in any manner whatsoever until such time
all the liabilities under the various facilities granted to me / us / the
company have been paid in full by me / us / the Company and I / We
the Company have got the discharge confirmed in writing by the Bank.

11. I / We hereby further declare and say that I / We / the Company have /
has agreed and undertaken to indemnify and keep indemnified the
Bank fully and effectually against all claims demands charges and
expenses whatsoever in respect of our properties and the said plant.

“I/We/company hereby further declare/s that I / we Company have / has

understood and agreed that by this mortgage bank is entitled to sell the property
by enforcing the mortgage in the event of default by the borrower”.
 12. I/We make this declaration solemnly sincerely and conscientiously
knowing the same to be true and knowing that on the faith of the said
declaration the Bank has given and agreed to continue to give to us
the said banking and financial facilities.

THE FIRST SCHEDULE ABOVE REFERRED TO :

(Description of the said property with boundries)

THE SECOND SCHEDULE ABOVE REFERRED TO :

(List of Title Deeds, Documents and Writings)

Solemnly affirmed / Sworn by the

Aforesaid Shri ……………………………………..
…………………. This day of …………………….
2021.

Before Me

(N.B. Separate declaration clauses if more than one declarant)