Notification 27-GA(12)/69

As required under Section 124(1) of  the Major Port Trusts Act, 1963, the Central Government vide Ministry of Shipping and Transport’s letter no.7-PE(14)/67 dated 21.4.1969 have accorded approval to theMormugao Port Employees’ (Grant of advances for purchase of Conveyances) Regulations and amendments thereto, published in the Government Gazette Nos. 30,31,41 and 42 (Series I) dated 27th  October, 3rdNovember 1966, 11th  and 18th January, 1968. The Regulations as approved by the Government are hereby published :-

   I – INTRODUCTORY
1.
SHORT TITLE:-
      These Regulations shall be called the Mormugao Port Employees’ (Grant  of  advances for purchase of  Conveyances) Regulations, 1969.

  1. COMMENCEMENT:-
    They shall come into effect from the date the approval of the Central Government is published   in the  Official Gazette.
  2. APPLICATION:-
    These Regulations shall apply to all employees of the Board, except:-

(i) employees engaged on Contract,

(ii) employees paid from Contingencies,

(iii) daily rated and casual employees,

(iv) apprentices.

 DEFINITIONS:-
In these Regulations unless the context otherwise requires:-

(a)“Accounts Officer” means the Financial Adviser and Chief Accounts Officer  of the  Port of Mormugao.

(b)“Board “, “Chairman ”, “Dy. Chairman”, “Head of Department” shall have the meanings assigned to them in the Major Port Trusts Act, 1963.

(c)“Pay” for the purpose of Regulations 21, 32, and 33 means Pay, Special Pay, Personal Pay and any other emoluments classed as pay for the said purpose by the Board.            .
NOTE:- 1 Deputation (Duty) allowance shall be treated as special pay.

NOTE:- 2 Non -practicing Allowance sanctioned to medical posts may be    treated as part of pay  for the said purpose –

(d) “Leave Salary”, “Permanent employee”, Subsistence allowance”, “Substantive” shall have the meaning as defined in the Fundamental Rules of the Central Government or in the Regulations, if any, framed by the Board, whichever may be applicable to the employee.             

                                                                  II – GENERAL

  1. 5. An advance shall not be granted to an employee without a substantive appointment, except as provided in Regulation 6, and the grant of the advance shall be subject to such general or special instructions as may be issued from time to time by the Board.
  2. An employee without a substantive appointment may be granted an advance provided he furnishes along with his application for the grant of such advance, a surety bond in Form ‘A’ (appended to these Regulations), from a permanent employee having a status comparable to, or higher than that of the employee who applies for the advance the Surety Bonds being cancelled in the event of his confirmation in post.

EXPLANATION: A permanent employee of the Central Government or State Government or another Public Undertaking on deputation to the Board, is not required to furnish a surety bond. 

  1. If an advance is granted to an employee who is due to retire or whose services are likely to be terminated within the maximum period prescribed for its repayment the number of instalments shall be so regulated that the repayment of advance with interest is completed before retirement or termination or service, as the case may be.
  2. Each instalment on account of repayment of an advance expect the last one shall be a number    of whole rupees; the amount of the last instalment being raised or reduced, if necessary, to admit of the fixation of such instalment and recovery of the balance including any fraction of a rupee.
  3. Where the advance is adjust by repayment in monthly instalments, an authority competent to sanction an advance may, in exceptional circumstances vary the amount of such instalments provided that:

(i) the whole amount of advance is completely recovered in the number of instalments not exceeding that initially fixed for repayment of the advance;

(ii) the amount of monthly instalment shall not be reduced on the ground that the employee is  drawing leave salary or subsistence allowance as distinct from pay.

  1. No sanction to the payment of an advance under these Regulations shall be issued unless the Accounts Officer has certified that funds are available in the year in which the amount of advance is to be paid and every such sanction must clearly indicate that fund are so available.
  2. Detailed accounts of individual advances shall be maintained by the Accounts Officer who will watch their recovery and see that the conditions attached to each advance are fulfilled.

12.The Accounts Officer shall submit to the employee concerned an annual statement showing the details of the outstanding advance. The statement shall be submitted in Form ‘B’ appended to these Regulations.

13.For the undermentioned purposes the date of drawal of an advance shall be the date of issue of the cheque, where payments are so made or the date of actual disbursement, where payments           are  made  in     cash:

(i) Recovery of the first instalment towards repayment of the advance (vide Regulation 24);
(ii)Completion of negotiations and purchase of the motor car/motor cycle/motor scooter (vide Regulation 28);

(iii)Furnishing of particulars of conveyance purchased and the cash receipt
therefore for conveyance  other than those mentioned in (ii) above (vide Regulation 36);
(iv) Calculation of interest (vide Regulation 20).

  1. POWERS OF SANCTION:-

Sanction for an advance under these regulations shall be accorded to class I & II employees (excluding Heads of Department and those on maximum of pay scale which (exclusive of allowances ) exceeds two thousand rupees) by the Deputy Chairman; to the Heads of Departments and those on maximum of pay scale of which (exclusive of allowances) exceeds two thousand rupees by the Chairman and to all other employees by the Head of Department.

15.No advance shall be granted to an employee for furnishing security at the time of registration as a protective purchaser.

16.(1) A foreign employer may with the concurrence of the authority specified  in Regulation 14   grant  to an employee, lent to him on foreign service, an advance  for the purchase of a conveyance,  provided that:-

(i)  the advance is granted from the funds of the foreign employer; and
(ii) the  advance  is  regulate  the  same  conditions  as  would  apply  if  the employee were serving directly under the Board.

(2)Notwithstanding the provisions contained in sub-regulation (1) above, in special cases, under orders of the authority specified in Regulation 14, the advance may be met from the Board’s funds.

(3)An employee of the Central Government or State Government or other Public Undertaking on deputation to the Board may with the concurrence of the lending authority, be granted an  advance for the purchase of a conveyance under these Regulations under orders of the authority specified in Regulation 14.

  17.CONDITIONS  OF  ELIGIBILITY:

(1) An employee may be granted an advance for the purchase of Motor Car, or a Motor cycle, or a motor Scooter, or moped  or bicycle.

(a)Motor Car: The officers drawing basic pay of Rs. 10,500/- per month or more (including Non Practicing Allowance) are eligible for grant of advance for purchase of Motor Car. However, this may be relaxed by the sanctioning authority in deserving cases.

(b)“Motor cycle”,  “Scooter” orMoped”: The employees drawing basic pay including Non Practising allowance of Rs.4,600 per month or more are eligible for grant of advance for purchase of motor cycle or scooter.  However, this may be relaxed by the sanctioning authority, in deserving cases.

(i) If the authority competent to sanction the advance is satisfied that the employee has the capacity to repay the advance.

NOTE : An advance for the purchase of conveyance shall not be granted to an employee who has already purchased the conveyance and paid for it, unless the conveyance has been purchased within a period of three months commencing from the date, the advance was applied for, and has been paid for by raising a temporary loan.

(c) Bicycle: The employees whose basic pay plus stagnation increment does not exceed Rs.1,750 per month, are eligible for grant of advance for purchase of cycle. An employee may be granted and advance for the purchase of bicycle if the authority competent to sanction advance is satisfied that the possession of a bicycle will add to the efficiency of the employee.

  1. An advance for the purchase of a conveyance, shall not be granted to an employee who has already purchased the conveyance and paid for it, unless the conveyance has been paid for by raising a temporary loan.

NOTE : An employee to whom an advance is drawn either that the advance is not being drawn for a conveyance which has already been purchased and paid for or that the advance claimed in the bill is not more than the minimum amount required to meet the balance of the price of the conveyance if the conveyance has been paid for in part, or that the conveyance has been purchased within three months from the date the advance was applied for and has been paid for by raising a temporary loan.

  1. An advance for the purchase of a conveyance shall not except as hereinafter provided be sanctioned unless the outstanding balance in respect of an advance previously granted for the same purpose, together with the interest thereon, has been fully repaid.
  2. Simple interest at such rates as may be fixed by the Board from time to time shall be charged on advances granted to employees for purchase of conveyances. Such interest shall be calculated on the balance outstanding on the last day of each month.

NOTE 1 : In cases where pay bills for a month are disbursed before the end of the month, an instalments in repayment of an advance received through the pay bill will be taken as having been refunded on the first of the following month, the normal date for disbursement of pay.

NOTE 2 : If in any particular case any advance is drawn in more than one instalment, the rate of interest recoverable shall be determined with reference to the date on which the first instalment is drawn.

NOTE 3 : In cases where the recovery of instalment is effected through the pay/leave salary bills and pay/leave salary of the employees has not been drawn in time, and the employees is unable to present his claim for pay for certain administrative reasons. the deductions in respect of the advance should be deemed to have been made in the month following the month to which the pay/leave salary relates irrespective of actual date of its drawal.

  1. AMOUNT OF ADVANCE: The total amount of advance which may be granted to an Class I & II Officers for the purchase of a motor car shall not exceed:

  (i)For Purchase of a new car:

Twenty months basic pay, subject to a maximum of Rs.2.50 lakhs or 80% of the cost of the new car, whichever is lower.”

  (ii)For Purchase of a new car:

Twenty months basic pay, subject to a maximum of Rs.1.80 lakhs or the actual cost of the car to be certified by a notified assessor, whichever is the lower”.

(a)Second/subsequent advance for purchase of a different vehicle, is admissible without selling the previous vehicle, but the balance of the previous vehicle, but the balance of the previous advance with interest should be repaid in full.

(b)Second or every subsequent advance for the purchase of motor car will be admissible only after four years from the date of drawal of the earlier advance, this condition will not apply:

(i)If the preceding advance was for motor cycle and second advance is for a motor car. (ii)When an employee disposes of his motor car in India prior to deputation/training abroad lasting for more than a year and returns to India without a car.                                    (iii)When an employee is appointed to a regular post abroad and does not take his car along with him.

NOTE 1: Advance for paying Customs duty: An employee who is holding a regular post aboard for a period exceeding one year and who is otherwise eligible for the grant of motor car advance may be granted and advance in two instalments first at the time of purchase of the car and second at the time of payment of customs duty when the car is brought to India completion of his tenure. The quantum of advance will be as perpara 2 above.

NOTE 2: If an employee who has not availed motor car advance earlier brings a car along with him, he may be granted advance in one lumpsum for payment of customs duty levied on the car. The quantum will be Rs.80,000 or sixteen months basic pay plus Non Practicing Allowance or the actual custom duty whichever is the least.

NOTE 3: Application for advance for the purchase of a motor car or motor cycle or motor scooter should be submitted to the sanctioning authority in Form ‘C’ appended to these Regulations.

NOTE 4: When the higher limit mentioned in Regulation 21(i) is availed of, the employee concerned should furnish a certificate to the effect that he has not drawn any advance earlier for the purchase of a conveyance of the same type. The sanctioning authority should also verify the corrections of the certificate.

NOTE 5: In this Regulation, the expression “actual price” includes Sales Tax and the cost of such items e.g spare wheel tire and a tube or a pillion seat in a scooter on the purchase of which the purchaser has no choice. It does not however, cover the cost of certain accessories e.g radio in a car, plastic covers. Which are not essential and are purchased by the customer of his own volition. Insurance and registration charges of the vehicles are also not included in the “actual price”.

NOTE 6 : The expression “actual price” will include the registration money paid for in advance by the employees to the dealer while booking for the new car which is later adjusted by the dealer on allotment/delivery towards are also not included in the “actual price”.

NOTE 7: Where an employee desires to keep two vehicles of different types i.e. a motor-car and motor cycle/scooter/moped and has purchased one type of vehicle with the advance drawn from the Board and provisions of these Regulations, without being required to sell the previous vehicle provided he repays the outstanding amount of advance with interest before drawing the fresh advance. An advance given in such a case will be treated as second advance.

If the actual price of motor car purchased by the Officer is less than the amount of advance, then he shall refund the balance to Board forthwith.

  1. Notwithstanding anything contained in Regulation 17, an advance for the purchase of a conveyance shall not be granted to an employee who is under suspension and, if an advance has already been sanctioned to him before he was placed under suspension he shall not be permitted to draw such advance during the period of suspension.
  2. RECOVERY OF ADVANCE:-

(a)Motor Car: In not more than 200 equal monthly instalments. The employee may at his   option repay more than one instalment in a month.

(b) Motor cycle or Scooter: In not more than 70 equal monthly instalments.

       (c) Cycle Advance: In not more than 30 equal monthly instalments.

24.The recovery of the amount of an advance shall commence with the first issue of pay, leave salary or subsistence allowance, as the case may be, after the advance is drawn.

NOTE : Suspension  of  recovery  of  the amount  of  an  advance,  pending fixation  of pay of an    employee, contravenes the provision of the  above Regulation and is therefore, not permissible.

25.RECOVERY OF INTERESTThe amount of interest calculated under Regulation 20 , shall be recovered in the minimum number of monthly instalments; the amount of each such instalment being not greater than the amount of the instalment fixed under Regulation 23.

  1. The recovery of the amount of interest shall commence from the month immediately following that in which the payment of the advance for the purchase of a motor car is completed.
  2. SALE OR TRANSFER:

An employee shall not sell or transfer a motor car for so long as the amount of advance together with the interest on such amount is not completely repaid, except with the permission of the sanctioning authority.

NOTE 1: If an employee seeks permission to transfer a motor car to another employee who should use a motor car in the discharge of his duties, he may permitted to transfer the liability attaching to the car to the latter provided that the transfer records a declaration that he is aware that the motor car transferred to him remains subject to the mortgage bond and that he is bound by its terms and provisions.

NOTE 2: In all cases in which a motor car is sold before the amount of advance and the interest thereon is fully repaid, the entire amount of outstanding advance together with interest thereon shall be repaid immediately after the car is sold, provided that when the motor car is sold in order that another motor car may be purchased the authority competent to sanction the advance may permit an employee to apply the proceeds towards such purchase, subject to the following conditions:

(a)   the entire sale proceeds of the old car should, be applied towards the purchase of the new case and the new car should be purchased within a month from the date on which the old car was sold.

(b)   the amount of advance outstanding should not be permitted to exceed the cost of the newly purchased a car.

(c)    the amount outstanding should continue to be repaid at the rate previously fixed

(d)   a fresh mortgage bond should be executed in favour of the Board for the amount then  due   and not for the amount originally advanced.

(e)    the newly purchased car should be insured and mortgaged to the Board.

28.(1) Unless an employee, who is sanctioned an advance for the purchase of a motor car, completes the purchase of, and pays for, the motor car within one month of the date on which he draws the advance, he shall refund forthwith the full amount of advance drawn together with interest on that amount for one month.

(2) In exceptional cases the sanctioning authority may extend the period of one month prescribed in this regulation upto two months.

NOTE 1 : The condition specified in Regulation 28 should be mentioned in all sanctions to the grant of an advance for the purchase of a motor car.

NOTE 2 : Where and amount of advance is retained beyond one month in contravention of Regulation 28 only the normal rate of interest leviable under Regulation 20 should be charged for the first month and that for the period in excess of one month penal rate of compound interest at such rate as may be fixed by the sanctioning authority, but not less than 2½ percent annum above the rate at which the advance has been sanctioned, should be charged in the manner indicated below:-

(i) the period of one month laid down in Regulation 28 should be a calendar month from the date of drawal of the advance.

(ii) the penal rate of interest should be calculated on the balances outstanding for the ACTUAL  PERIOD in excess of one month (including fraction of a month) and not on the monthly balances as in the case of recovery of advances under Regulation 20.

(iii) the penal rate of interest should be calculated as

No. of days   x   yearly   rate   of   interest

365

(iv) when the period of one month provided in Regulation 28 is extended by the sanctioning authority, the penal rate should be charged with effect from the date following that on which the extended period expires.

NOTE 3 :The advance for the purchase of a motor-car may be applied for well in time and sanctioned by the authority competent to sanction the advance as early as possible. The advance should, however be drawn only after the employee concerned has received a written assurance from the dealer that the supply is likely to be available within a month and a certificate to this effect is recorded on the bill for the advance. In the event of delay in supply, despite the written assurance from the dealer, the  employee should apply for extension of the time limit within the permissible period of one month and seek permission for retaining the advance for a further period which should be specified. Each such request should be supported by a letter from the dealer. Indicating the likely period of supply, and will be considered on merits.

NOTE 4 : Where an employee refunds the full amount of the advance before the end of the month in which it was drawn for the purchase of a car, the interest may be recovered for the actual period the advance was retained by the employee.

NOTE 5 : The authority sanctioning advance for the purchase of conveyance should ask the employee concerned to produce the registration book of the vehicle to the Accounts Officer within a period of one month from the date of purchase of the vehicle or within two months from the date of drawal of advance. whichever is earlier, to show that the vehicle purchased by him has actually been transferred in his name by the competent authority, failing which he shall be liable to pay penal interest on the entire amount of advance as provided in NOTE 2 above, from its date of drawal to the date of submission of the registration book. In case it is established that the delay in submitting the registration book is not attributable to the employee, the penal interest may not be charged for the late submission of the registration book for the period of such delay.

NOTE 6 : The sanctioning authority should ask the employee to submit the cash receipt within the prescribed time for scrutiny to ensure that the advance has been utilised for the purchase of conveyance within the prescribed period and the “actual price” as defined in NOTE 1 below Regulation 21 is not less than the amount of advance. A certificate to this effect that the cash receipt has been received and after scrutiny it has been verified that the amount of advance has been fully utilised for the purchase of the conveyance within the prescribed period and that the “actual price” as defined in NOTE 1 below Regulation 21 is not less than the amount of the advance, should invariably be furnished to the Accounts Officer. Thereafter, the cash receipt may be returned to the borrower.

  1. AGREEMENT AND MORTGAGE BONDS:

An employee shall, before he draws an advance for the purchase of a motor car, execute an agreement in form ‘D’, appended to these Regulations, if the advance is granted to him under Regulation 17, or in Form ‘E’ appended to these Regulations, if the advance is granted to him under Regulation 18. On completing the purchase of a motor car he shall also execute a mortgage bond in Form ‘F’ and or ‘H’ appended to these Regulations, as the case may be, hypothecating the motor car to the Board as security for the advance.

NOTE 1: As soon as the advance is drawn the employee should furnish to Accounts Officer, the agreement in Form ‘D’ appended to these Regulations, and the mortgage bond for examination and record together with a letter in Form ‘G’ appended to these Regulations to the Insurance Company. The Accounts Officer will then forward the letter to the Insurance Company and obtain their acknowledgement. In the case of insuranceeffected on annual basis, this process should be repeated every year until the advance has been fully repaid.

NOTE 2: The mortgage bond should be kept in the safe custody of the Accounts Officer. When the advance has been fully repaid, the bond shall be returned to the employee duly cancelled.

30(1) An employee who purchases a motor car with an advance obtained from the Board shall, from the date of its purchase comprehensively insure, and so long as the advance and the interest on such advance is not fully repaid, keep so insured the motor car against loss or damage by fire, theft or accident.

(2) the insurance policy should invariably contain the clause indicated in Form ‘G’.

NOTE : The failure to comply with the conditions prescribed in this Regulation will render the employee drawing the advance liable to refund forthwith the whole amount of advance with interest accrued unless good and sufficient reason is shown to the contrary and the sanctioning authority waives fulfillment of any of the conditions prescribed in the aforesaid Regulation.

31.The amount for which a motor car is insured for any period shall not be less than the outstanding balance of the advance, with interest accrued, at the beginning of that period but if such amount is less, the difference shall be refunded to the Board in not more than three equal monthly instalments.

32.MOTOR CYCLE/ MOTOR SCOOTERS & MOPEDS :

Subject to the provisions of Regulation 17 and, mutatis mutandis, the conditions regulating the grant of advances for the purchase of a motor car, an authority competent to sanction the advance for the purchase of a conveyance may sanction to an employee an advance for the purchase of a  motor cycle or motor  scooter or moped.  Such an advance shall be subject to the same conditions regulating the advance for purchases of a motor car.

Provided that notwithstanding anything contained in Regulation 21, the amount of such advance shall not exceed:

(i)     When the employee is granted an advance for the first occasion, eight months’ basic pay, subject to a maximum of Rs. 30,000/- (Rupees thirty thousand only) or 80% of the actual cost of the scooter/motor-cycle/moped, which is lower.

(ii)   On the second or subsequent occasion, the quantum of advance that may be granted for the purchases of scooter/motor-cycle/moped shall be eight months’ basic pay, subject to a maximum of Rs.24,000 (Rupees twenty four thousand only) or 80% of the actual cost of the scooter/motor-cycle/moped, whichever is lower.

Provided further that notwithstanding anything contained in Regulation 23, the amount of such advance shall be recovered from the employee in such number of equal monthly instalments as may elect but such number shall not be more than seventy.

  1. Subject to the provisions of Regulation 17(2), an employee, who was in receipt of pay not exceeding Rs.5000/- (Rupees five thousand only) per month, may be granted an advance for the purchase of a bicycle:-

Provided that:

(i)     the amount of such advances shall not exceed Rs. 1500/- (Rupees one thousand five hundred only) and shall be  restricted to the anticipated prices, inclusive of Sales Tax, of the bicycle.  If the actual prices of the bicycle paid by the employee is less than the amount sanctioned,  he shall refund the balance to the Board forthwith;

(ii)   the amount of such advances shall be recovered in the manner prescribed in Regulations 23 and 24 in equal monthly instalments not exceeding twenty five;

(iii) the amount of interest calculated under Regulations 20 shall be  recovered in the manner prescribed in Regulations 25 and 26.

34.If an employee, without a substantive appointment, is granted an advance for the purchase of a bicycle, but ceases to be in the service of the Board before the amount of the advance and the interest thereon is completely repaid, the balance shall, to the extend possible be adjusted against the pay and allowances due to the employee. Any amount, as then remains unpaid, shall be recovered for with from the surety, if any.

35.An advance for the purchase of a bicycle shall not ordinarily be granted within three years of the grant of a previous advance for the same purpose, unless satisfactory evidence is provided by the employee concerned to the effect that the bicycle purchased with the help of the earlier advance has been lost or has become unserviceable. In the latter type of cases, the Head of the Department should, while recommending the grant of advance, record a certificate that it has satisfied itself that the bicycle possessed by the employee has been lost or has become unserviceable, as the case may be.

  1. An employee who has been granted an advance under this sub-section shall submit to the Accounts Officer within one month of the drawal of the advance the cash receipt in support of the purchase of the bicycle.

NOTE : The sanctioning authority may in exceptional circumstances, extend the period of one month prescribed in this Regulation upto two months.

  1. The bicycle purchased with the advance will be considered as the property of the Board till the advance with the interest accrued thereon has been fully repaid. A provision to this effect should be included in the letter sanctioning the advance.

37-A  PERSONAL COMPUTER

The authority competent to sanction an advance for the purchase of a conveyance in terms of Regulation 14 may sanction an  advance not exceeding Rs.80,000/- (Rupees eighty thousand only) on the first occasion and Rs. 75,000/- (Rupees seventy five thousand only) on the second or subsequent occasions  or the anticipated price (excluding customs duty, if any). whichever is less to a class I & II Officer for  purchase of a personal computer at the same rate of interest as applicable to motor car advance recoverable in not more than 100 instalments.  However, a  class III & IV  employee, drawing a basic pay of Rs. 4,600/- and above will be granted an advance upto 10 months basic pay or Rs. 80,000/- or the actual cost of the Computer, whichever is the least, for the purchase of a Personal Computer.  Interest rate will be the same as in the case of Officers.  Recovery will be in a maximum of 100 instalments.

Conditions of Sanction:

(1). The employee can draw an advance for the purchase of either a motor car or a Personal computer, provided he has repaid fully with interest, the advance, if any, availed of earlier for the purchase of a motor-car/personal computer.

(2). An employee, who has already drawn an advance for the purchase of a Personal Computer and period of 3 (three) years has not elapsed from the date of drawal of the earlier advance, shall not be eligible for the grant of second or subsequent advance for the purchase of a Computer.

(3). The Personal Computer will be required to be mortgaged in the name of the Board and for this purpose, Form “F” may be used by substituting the words “Motor Vehicle” with the words “Personal Computer”. Similarly, Forms of Agreement “D” and “E” for drawing an advance for the purchase of motor car may be used by substituting the words “Motor Vehicle” by the words “Personal Computer”, Make, Model andChasis No. of the Personal Computer may be entered in the Mortgage Deed.

(4). An application for the grant of advance for the purchase of a Personal Computer shall be  required to be made in Form “C”.

(5).  No advance for the payment of customs duty on the Personal Computer shall be sanctioned.

Recovery of Advance :

(6). The advance sanctioned for the purchase of a Personal Computer shall be recovered in such number of equal monthly instalments as the employee may elect, but not exceeding 150.

Interest:

(7).Simple interest at such rates as may be fixed by the Board from time to time for the motor car advance shall be charged on advances granted to employee for the purchase of a Personal Computer.

(8). All other conditions laid down in these Regulations regulating the sanctioning of motor car advance will apply to the advance. Which may be sanctioned for the purchase of a Personal Computer.

  1. INTERPRETATIONS  :-

If any question arises relating to the interpretation of these Regulations it shall be referred to the Board whose decision shall be final.

39.ADOPTION OF GOVERNMENT ORDERS

In applying the foregoing regulations and in respect of matters not dealt with in these Regulations the Central Government General Financial Rules and orders of the Central Government issued thereunder from time to time, shall be followed in so far as they are not inconsistent with the provisions of these Regulations subject to such exceptions and modifications as the Board may from time to time determine.

FORM ‘A’
(See Regulation 6)

Form of Surety Bond

KNOW ALL MEN BY THESE PRESENTS THAT I _____________________ SON OF________________ resident of _________________ in the District of ______________ at Present Employed as a permanent ____________in the _____________________ (hereinafter called “the Surety”) am held and firmly bound unto the Board of Trustees for the Port of Mormugao (hereinafter called “the Board” which expression shall include his successors and assigns) in the sum of Rs.________________ (Rupees ____________ only) with interest as hereinafter specified and all costs between attorney and client and all charges and expenses that shall or may have been incurred by or occasioned to the Board to be paid to the Board FOR WHICH PAYMENT to be well and truly made I hereby bind myself, my heirs, executors, administrators and representatives firmly by these presents. As witness my hand this _______________ day of ______________ one thousand nine hundred ____________.

WHEREAS  the Board has agreed to grant to ____________ son of _________ a resident of ____________ in the District of _______________ at present employed as temporary _________________ in the _________ at present employed as temporary _____________ in the __________________________ (hereinafter called “borrower”) at the borrower’s own request an advance of Rs.________ (Rupees _____________only) for the _______________ AND WHEREAS THE BORROWER has undertaken to repay the said amount in ____________ equal monthly instalments with interest as calculated at the rate and in the manner prescribed under regulation 20 and notes (1) and (2) thereunder of ‘the Mormugao Port Employees’ (Grant of advances for purchase of conveyances) Regulations, 1969 thereon or on so much thereof as shall for the time being remain due and unpaid calculated at fixed Board’s rate in force for Board loans from the day of the advance.

AND WHEREAS in consideration of the Board having agreed to grant the aforesaid advance to the Borrower the Surety has agreed to execute the above bond with such condition as written hereunder.

NOW THE CONDITION OF THE ABOVE WRITTEN BOND is that if the said Borrower shall while employed in the said _____________ Duly and regularly pay or cause to be paid to the Board the amount of the aforesaid advance owing to the Board by instalments with interest as calculated in the aforesaid manner thereon or on so much thereof as shall for the time being remain due and unpaid calculated at fixed Board’s rates inforce for Board’s loans form the day of the advance until the said sum of Rs._____________ (Rupees _________ only), with interest as calculated in the aforesaid manner shall be duly paid, then this bond shall be void otherwise the same shall be and remain in full force and virtue.

BUT SO NEVERTHELESS that if the Borrower shall die or become insolvent or at any time cease to be in the service of the Board. The whole or so much of the said principal sum of Rs._____________ (Rupees _________________ only), thereof as shall then remain unpaid and the interest due on the said principal sum calculated in the aforesaid manner from the day of the advance shall immediately become due and payable to the Board and be recoverable form the surety in one instalment by virtue of this bond.

The obligation undertaken by the Surety shall not be discharged or in any way affected by an extension of time or any other indulgence granted by the Board of the said borrower whether with or without the knowledge or consent of the Surety.

The Board have agreed to bear the stamp duty, if any, for this document.
Signed and delivered by the said ____________ at _____________ this ________ of _________ 19 ___ Signature, address and Occupation of witnesses ___________.
 ____________________
(Signature of Surety)
Designation_____________________                                                                                                    Office to which attached.

In the presence of:

i)_____________________
ii)_____________________.

ACCEPTED

For and on behalf of the

Board of Trustees.

FORM ‘B’

(See Regulation 12)

Statement of Loans/Advances sanctioned by the Board Year _________________

 

Name of persons

Receiving the

loans  /  advances

 

 

Amt of loan/ advance sanctioned Rate of interest No. and date of ordersauthorisingthe Loan/ advance Balance from  last year Amount advanced this year Total Amount repaid during the year Balance of loan / ad-vance at close of  the year Amount of interest received & credited to Revenue. Balance of interest unpaid Remarks
1 2 3 4 5 6 7 8 9 10 11 12 13
 

 

 

 

 

 

 

 

 

 

 

 

 

________________________________
Financial Advisor and Chief

 

FORM ‘C’
(See note (2) below Regulation 21)

 

APPLICATION FORM FOR ADVANCE FOR THE PURCHASE OF A
MOTOR CAR/MOTOR CYCLE/MOTOR SCOOTER

  1. Name of Applicant ____________________________
  2. Applicant’s designation ________________________
  3. District and Station____________________________
  4. Pay________________________________________
    (i)Substantive pay

(ii)Officiating pay or pay drawn in a temporary post.

(iii)  Special/Personal pay.

  1. Anticipated price of motor car/cycle/scooter.
  2. Amount of Advance required.
  3. Date of superannuation or retirement.
  4. Number of instalments in which the advance is desired to be re-paid.
  5. Whether advance for similar purpose was obtained previously and if so:-
    (i) date of drawal of the advance.

(ii) the amount of advance and or interest thereon still outstanding, if any.

  1. Whether the intention is to purchase:-

(a) a new or an old motor car/cycle/scooter.

(b)if the intention is to purchase motor car/cycle/Scooter through a person other than a regular or reputed dealer or agent, whether previous sanction of the competent authority has been obtained as required under Regulation, 15 (2) of the MPE (Conduct) Regulations, 1964.

  1. Whether the officer is on leave or is about to proceed on leave:-
    (a) the date of commencement of leave.

(b) The date of expiry of  leave.

  1. Are any negotiations or preliminary enquiries being made so that delivery may be taken of the motor car/cycle/Scooter within one month from the date of drawal of the advance?
  2. (a) Certified that the information given above is complete and true.
    (b) Certified that I have not taken delivery of the motor car/cycle/scooter on account of which apply for advance, that I shall complete negotiations/for the purchase of pay finally and take possession of the motor car/cycle/scooter before the expiry of one month from the date of drawal of the advance, and that I shall insure it from the date of taking delivery of it.

Applicant Signature:
Date:

 

FORM ‘D’

(See Regulations 29)

FORM OF AGREEMENT TO BE EXECUTED BEFORE
DRAWING AN ADVANCE FOR THE PURCHASE OF AN
MOTOR VEHICLE/PERSONAL COMPUTER.

AN AGREEMENT made on ……………………………….. day of …………………………. one thousand nine hundred and ……………………………. BETWEEN …………………………… (hereinafter called the Borrower which expression shall include his heirs, administrators, executors and legal representatives) of the one part and the Board of Trustees for the Port of Mormugao (hereinafter called all Board, which expression shall include his successors and assignees) of the other part, whereas the Borrower has under the provisions of the Mormugao Port Employees’ (Grant of advances for purchase of conveyances) Regulations, 1969 (hereinafter referred to as the said Regulations which expression shall include any amendments thereof for the time being in force) applied to the Board for loan of Rs……………for the purchase of a personal computer and whereas the Board has agreed to lend the said amount to the Borrower on the terms and conditions hereinafter contained.  NOW IT IS HEREBY AGREED between the parties hereto that in consideration of the sum of Rs. …………………………………. to be paid by the Board to the Borrower (the receipt of which the Borrower hereby acknowledges) the Borrower hereby agrees with the Board (1) to pay the Board the said amount with interest calculated according to the said Regulations by monthly deductions from his salary as provided in the said Regulations and hereby authorises the Board to make such deductions, and (2) within one month from the date of these presents to expend the full amount of the said loan in purchase of a motor vehicle or if the actual price paid is less than the loan to repay the difference to the Board forthwith, and (3) to execute a document hypothecating the personal computer to the Board as security for the amount to be lent to the Borrower as aforesaid and interest in the form provided by the said Regulations and IT IS HEREBY LASTLY AGREED AND DECLARED THAT IF THE PERSONAL COMPUTER has not been purchased and hypothecated as aforesaid within one month from the date of these presents or if the Borrower within that period becomes insolvent or quits the service of the Board or dies, the whole amount of the loan and interest accrued thereon shall immediately become due and payable.

IN WITNESS whereof the BORROWER and ………………………………….. for and on behalf of the Board have hereunto set their hands the day and year first before written.

Signed by the said in the presence of
……………………………………………………                                                       ………………………………….
………………………………………………..                                …………………………………………….
(Signature of witness)                                                 (Signature and designation of the borrower)

Signed by (Name and designation):

For and on behalf of the Board of Trustees in the presence of ……………………………………………. (Signature of witness)   _____________________________________
(Signature and designation of the Officer)………………………..         

 

FORM ‘E’

(See Regulation 29)

FORM OF AGREEMENT TO BE EXECUTED BEFORE
DRAWING AND ADVANCE FOR THE PURCHASE OF A
MOTOR VEHICLE/PERSONAL COMPUTER

AN AGREEMENT made on……………………….. day of ………………………….. one thousand nine hundred and………………  ……………. BETWEEN ………………………….. (hereinafter called the Borrower which expression shall include his heirs, executors, administrators and legal representatives) of the one part and Board of Trustees for the Port of Mormugao (hereinafter called the Board, which expression shall include his successors and assigns) of the other part.

WHEREAS the Borrower has purchased/agreed to purchase the personal computer described in the schedule hereunder written, (hereinafter referred to as the “said personal computer”) AND whereas the Borrower has under the provisions of the Mormugao Port Employees’ (Grant of Advances for purchase of conveyances) Regulations, 1969 (hereinafter referred to as the said Regulations which expression shall include any amendment thereof for the time being in force), applied to the Board for a loan of Rs ……………. for the purchase of a personal computer and whereas the Board has agreed to lend the said amount to the Borrower on the terms and conditions hereinafter contained. NOW IT IS HEREBY AGREED between the parties hereto that in consideration of the sum of Rs ……………………….. to be paid by the Board to the Borrower (the receipt of which the Borrower hereby acknowledges) the Borrower hereby agrees with the Board (1) to repay to the Board and said amount with interest calculated according to the said Regulations by monthly deductions from his salary as provided in the said Regulations and hereby authorises the Board to make such deductions and (2) within one month from the date of these presents to expend the full amount of the said loan in the repayment of any loan obtained by him from a private party/the …………………………. (bank) for the purchase of the said personal computr or if the actual price paid is less than the loan to repay the difference to the Board forthwith, and (3) to execute a document hypothecating the said personal computer to the Board as security for the amount to be lent to the Borrower as aforesaid and interest in the form provided by the said Regulations and IT IS HEREBY LASTLY AGREED AND DECLARED THAT IF THE PERSONAL COMPUTER has not been purchased and hypothecated as aforesaid within one month from the date of these presents or if the Borrower fails to repay the amount of the loan obtained by him from a private party ………………………. (bank) for the express purpose of purchasing the said personal computer within one month from the date of these presents or if the Borrower within that period becomes insolvent or quits the service of the Board or dies, the whole amount of the loan and interest accrued thereon shall immediately become due and payable.

THE SCHEDULE

Description of Personal Computer :

Maker’s name :

Description :

No. of Cylinders :

Engine Number :

Chassis No :

Cost Price :

IN WITNESS whereof the Borrower and …………………………… for and on behalf of the Board have hereunto set their hands the day and year first above written.

Signed by the said in the presence of  :
…………………………………………………….                        …………………………………………………
………………………………………………………                      ………………………………………………….
(Signature of Witnesses)                                         (Signature and designation of the Borrower)
Signed by (name and designation)
…………………………………………………….
for and on behalf of the Board of
Trustees in the presence of
…………………………………………………                    ………………………………………………………………
…………………………………………………                    ………………………………………………………………
(Signature of Witnesses)                                     (Signature and designation of the Officer)
Name and designation of the Borrower.

 

FORM “F”

(SEE REGULATION 29)

FORM OF MORTGAGE BOND FOR MOTOR VEHICLE/PERSONAL COMPUTER INITIAL ADVANCE

THIS INDENTURE made this …………………… of …………………day of……………………. one thousand nine hundred and …………………… BETWEEN …………………………………….. (hereinafter called “the Borrower” which expression shall include heirs, administrators, executors and legal representatives) of the one part and the BOARD OF TRUSTEES for the Port of Mormugao (hereinafter called “the Board” which expression shall include his successors an assignees) of the other part.WHEREAS the Borrower has applied for and has been granted an advance of Rs ………………………….. to purchase a motor car vehicle on the terms of Regulations, 21 to 32 of the Mormugao Port Employees (Grant of advances for purchase of conveyance) Regulations, 1969 (hereinafter referred to as “the said Regulations” which expression shall include any amendment thereof or 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 vehicle within a month after purchase to the Board as security for the amount lent to the borrower has purchased with or/partly with the amount so advanced as aforesaid the Motor Vehicle.particulars whereof are set out in the Schedule hereunder written.

NOW THIS INDENTURE WITNESSETH that in pursuance of the said agreement and for the consideration aforesaid the Borrower doth hereby covenant to pay to the Board the sum of Rs. ……………………………. aforesaid or the balance thereof remaining unpaid at the date of these presents by equal payments of Rs…………………….. each on the first day of every month and will pay interest on the sum for the time being remaining due and owing calculated according to the said Regulations and the Borrower doth agrees with that such payments may be recovered by monthly deductions from his salary in the manner provided by the said Regulations and in further pursuance of the said agreement the Borrower doth hereby assign and transfer upto the Board the Motor Vehicle the particulars whereof are set out in the Schedule hereunto written by way of security for the said advance and the interest thereon as required by the said Regulations.

And the Borrower doth hereby agree and declare that he has paid in full the purchase price of the said Motor Vehicle and that the same is his absolute property and that he has not pledged and so long as any money remain payable to the Board in respect of the said advance will not sell, pledge or part with the property in or possession of the said Motor Vehicle will not sell, pledge or part with the property in or possession of the said Motor vehicle.  PROVIDED ALWAYS  and it is hereby agreed and declared that if any of the said installment of principal or interest shall not be paid or recovered in manner aforesaid within ten days after the same are due or if the  Borrower shall die at any time cease to be in Board’s service or if Borrower shall sell or pledge or part with the property in or possession of the said Motor Vehicle or become insolvent or make any composition or arrangement with his creditors or if any person shall take, proceeding in execution of any decree or judgement against the Borrower the whole of the said principal sum which shall than be remaining due and unpaid together with interest thereon calculated as aforesaid shall forthwith become payable. AND IT IS HEREBY AGREED and declared that the Board may on the happening of any of the events hereinbefore mentioned seize and take possession of the said Motor Vehicle and either remain in possession thereof without removing the same or else may remove and sell the said Motor Vehicle either by public auction or private contract and may out of the sale moneys retain the balance of the said advance then remaining unpaid and any interest due thereon calculated as aforesaid and all costs, charges, expenses, and payments property incurred or made in maintaining, defending or realising his right hereunder and shall pay over the surplus, if any, to the Borrower, his executors, administrators or personal representative PROVIDED FURTHER that the aforesaid power of taking possession or selling of the said Motor Vehicle shall not prejudice the right of the Board, to sue the Borrower or his Personal representatives for the said balance remaining due and interest or in the case of the Motor Vehicle being sold the amount by which the net sale proceeds fall short of the amount owing AND the Borrower hereby further agrees that so long as any moneys shall remain due and owing to the Board, he, the Borrower will insure and keep insured the said Motor Vehicle against so or damage by fire, theft, or accident with and insurance company to be approved by the Board and will produce evidence to the satisfaction of the Board that the Motor Insurance Company with whom thesaid Motor Vehicle is insured have received notice that the Board is interested in the Policy AND the Borrower hereby further agrees that he will not permit or  suffer the said Motor Vehicle to be destroyed or injured or to deteriorate in a greater degree that it would deteriorate by reasonable wear and tear thereof AND further that in the event of any damage or accident happening to the said Motor Vehicle, the Borrower will forthwith have the same repaired and made good.

THE SCHEDULE

Description of Motor Vehicle :

Maker’s Name :

Description:

No. of cylinders:

Engine number:

Chassis no :

Cost price:

IN WITNESS WHEREOF the said …………………………………………………………. (Borrower’s name) and ………………….. for and on behalf of the Board have hereunto set their respective hands the day and year first above written.

Signed by the said  in the presence of                    (Signature and designation of the Borrower)
1 ……………………………………………..
2 ……………………………………………..
(Signature of witnesses)                                               (Signature & Designation of the Officer

 

Signed by (Name & designation)
for and on behalf of the Board of Trustees in the presence of
1. …………………………………………
2. ………………………………………..

(Signature of witnesses)                  Name and designation of the Borrower

 

 

FORM-G
                                                    [See note (1) below Regulation 29]

                                                  LETTER TO THE INSURANCE COMPANYForm
To,
(Through the Accounts Officer)Dear Sir,I am to inform you that the Board of Trustees is interested in the Motor Car/Cycle/Scooter/Moped/ Personal Computer Insurance Policy No……………………..secured in your Company and to request that you will kindly insert a clause to the following effect in the Policy:-

Form of clause to be inserted in the Insurance Policy.

  1. It is hereby declared and agreed that Mr. ……………………………(the owner of the Motor Car/Cycle/ Scooter/Moped/Personal Computer, hereinafter referred to as the insured in the schedule to this Policy) has hypothecated the Motor Car/Cycle/Scooter/Moped/Personal Computer, to the Board of Trustees (hereinafter called the Board) as security for an advance for the purchase of the Motor car/cycle/ scooter/moped/personal computer, and it is further declared and agreed that the Board is interested in any moneys which but for this endorsement be payable to the said Mr…………………. …………..(the insured under this policy) in respect of the loss or damage to the said Motor Car/Cycle/Scooter/Moped /Personal Computer (which loss or damage is not made good by repair, reinstatement or replacement) and such moneys shall be paid to the Board as long as he is the mortgagee of the Motor Car/Cycle/    Scooter/Moped/Personal Computer and his receipt shall be full and final discharge to the company in respect of such loss or damage.
  2. Save as by this endorsement expressly agreed, nothing herein shall modify or affect the rights or liabilities of the insured or the Company, respectively under or in connection with this policy or any term. provision or condition thereof.

Yours faithfully,

Place :                                

Date:                                  

Forwarded, the receipt of the letter may kindly be acknowledged. It is also requested that the undersigned may kindly be informed whenever any claim is paid under the policy and also if the premium is not paid periodically for renewal.

Place:                                

Date:                                           (Signature and Designation of the Accounts Officer)

By order,

SHIVAKUMAR DHINDAW

Secretary

Mormugao, 19th August, 1969.                       (Published in the Government Gazette No. 23,                                                                                                  Series I, dated 4.9.1969)

 

FORM-H

(See Regulation 29)
FORM OF MORTGAGE BOND FOR MOTOR VEHICLE-FURTHER ADVANCE

This deed for further charge is made this ………………………….day of……………………… between…. …………………. son of……………………….(hereinafter called “the Borrower” which expression  shall. unless excluded by or repugnant to the subject or context, include their successors and assigns) of the one part and the Board (which expression shall unless excluded by or repugnant to the subject or context include its successors and assigns) on the other part.

Whereas by Deed of Mortgage, dated ……………………..day of …………………………..the borrower hypothecated to the Board the Motor Vehicle described in the schedule thereto to secure the Motor Vehicle purchase advance of Rs………………………with interest at the rate and on conditions mentioned in the said Deed of Mortgage (hereinafter referred to as the “Principal Deed”).

And whereas out of the said sum of Rs …………………………..advanced to the Borrower by the Board a sum of Rs………..towards principal and interest as per the terms of the Principal Deed still remain due and payable to the Board.

And whereas the Borrower being in need of a further advance of Rs………………………on the terms of Regulations, 21 to 31 of MPE (Grant of advance for the purchase of conveyance) Regulations, 1969 (hereinafter referred to as “the said Regulations”) towards payment of customs duties payable on the said vehicle at the time of bringing the same to India.

And whereas the Borrower has approached the Board for an advance of further sum of Rs………………. and the Board has agreed to lend the same on the same security and on terms hereinafter expressed.

And whereas the Borrower has paid the customs duty in respect of the said Motor Vehicle with the amount so advanced.

                  NOW THIS DEED WITNESSETH :-

  1. In pursuance of the said agreement and in consideration of the further sum of Rs……………..(in words as well as in figures) advanced to the Borrower (receipt of which the Borrower hereby acknowledges) the borrower hereby covenants with the Board to repay to the Board the sum of Rs…………………..of the balance thereof remaining unpaid at the date of these presents with interest thereon by instalment in the manner herein.
  2. The Borrower shall repay the said sum due to Board by equal payment of Rs…………………….each on the first day of every month and will pay interest on the sum for the time being remaining due and being calculated according to the said rules so long as the principal moneys hereby secured or any part thereof due on this security remain unpaid and the Borrower doth agree that such payment may be recovered by monthly deduction from his salary in the manner provided by the said regulation or where in the event of his proceeding on deputation out of India for a period exceeding twelve month the competent authority has allowed repayment of the amount of advance remaining unpaid and/or interest as aforesaid on the happening of such an event in rupees in India. The Borrower doth hereby agree to pay to Board such dues by remittance through bank draft drawn by the 15th of every month infavour of the Accounts Officer in whose books the accounts of the aforesaid advance are kept.
  3. It is hereby agreed and declared that if any of the said instalments of the principal or interest shall not be paid or recovered in the manner aforesaid with ten days after the same are due service or if the Borrower dies or at any time ceases to be in Board service or if the Borrower shall sell or pledge or part with the property in or of the said Motor Vehicle or become insolvent or make any composition or arrangement with his creditors or if any person shall take proceedings in execution of any decree or judgement against the Borrower, the whole of the principal sums and interest thereon calculated under the said rules which shall then be remaining due and unpaid under these presents and the Principal Deed shall forthwith become payable.
  4. In pursuance of the said agreement and the consideration aforesaid the Borrower doth hereby declare that the Motor Vehicle described in the Schedule to The Principal Deed and which is also described in the Schedule hereunder shall be security for and charged with payment to the Board as well of the said sum of Rs …………………..or interest thereon secure under the said Principal Deed and the said sum of Rs ………………..and interest thereon according to the covenant in the behalf hereinbefore contained and the same shall not be  redeemed or redeemable until payment of the moneys secured under this Deed and the Principal Deed.
  5. And it is hereby agreed that all powers, provisions and covenants contained and implied in the aforesaid Principal Deed in relation to the money secured thereby shall operate and take effect in like manner for securing payment of the principal and interest and to the security as fully as if the same had been herein set out and specifically made applicable thereto and as if the said sum had formed part of advance secured by the Principal Deed.

SCHEDULE

Description of Motor Vehicle:

Maker’s name:

Description:

No. of cylinders :

Engine No :

Chassis No:

Cost price:

In witness wherof the Mortgager/Borrower has hereunto set his hand and Shri …………………………..in the Deptt./Office of ………………………………for and on behalf of the Board has hereunto set his hand.
Signed by the ……………………………………..
in the presence of
1…………………………….                                          …………………………………………………….
2………………………………                                        …………………………………………….
(Signature of Witnesses)                               (Signature and designation of the Borrower)
Signed (Name and Designation)
…………………………………………………………..
for and on behalf of the Board of Trustees in the presence of
1…………………………………………………                       ………………………………………..
2…………………………………………………                       ………………………………………..
(Signature of Witnesses)                                    (Signature and Designation of the Officer)

FORM – I

[See Regulation 17 (d)]

Memorandum of Agreement made on the …………………………..day of…………………… one thousand nine hundred and…………………………..between …………………. a company incorporated under the Indian Companies Act, 1913/the Companies Act, 1956, having itss registered office at…………………………a body corporate incorporate under the same name and style by and under —————-(act——- No…………of ………………..) having its office at …………………….a society registered under the Societies Registration Act (21 of 1860) having its office at ……………………………….(hereinafter called “the company/corporation/society” which expression shall, include its successors and assigns) of the one part and the Board (which expression shall include his successors and assigns) of the other part.

Whereas Shri ……………………………. son of ……………………… resident of…………………………….  (hereinafter called “the borrowing officer”) holds a permanent post in the Company/Corporation/Society.

And whereas since the………………………….day of…………………………………one thousand nine hundred and …………………..the Borrowing Officer has been on deputation for service under the Board and is likely to continue to be on deputation under the Board for a period of not less than three years from the date of drawal of the loan hereinafter recited..

And whereas the Borrowing Officer has under the provisions of the Mormugao Port Employees’ (Grant of advance for the purchase of conveyances) Regulations, 1969 (hereinafter referred to as the said rules which expression shall include any amendment thereof for the time being in force), applied to the Board for a loan of Rs…………………………(Rupees ………………………only) for the purchase of a motor vehicle.

And whereas the Board has agreed to lend the said amount of Rs………………………to be borrowing Officer on the terms and conditions laid down in the said rules.

Now it is hereby agrees by and between the parties hereto that in consideration of the sum of Rs…….. (Rupees………………..only) lent by the Board to the Borrowing Officer which said amount with interest calculated according to the said rules is repayable by the borrowing officer to the Board, the Company/ Corporation/Society hereby agrees with the Board that in the event of reversion of the borrowing officer from the post of……………….. held by him on the date hereof under the Board before the completion of the repayment of the said loan with the interest thereon, the Company/Corporation/Society shall remit the amount outstanding together with interest calculated according to the said rules in instalments as originally fixed by the Accounts Officer in whose records the said loan stands originally booked by means of a cheque or a demand draft on a scheduled bank, and the said remittance shall be made within seven days from the date of payment of salary and allowance to the borrowing officer.

IN WITNESS WHEREOF the Mortgagor/Borrower has hereunto set his hand and Shri………………..in the department/office of……………………………. for and on behalf of the Board has hereunto set his hand.

 

Signed for and on behalf of   —————————————————————

Company/Corporation/Society by Shri………………………………………………………….

(Name and Designation)
1………………………………
2………………………………
Signed by Shri……………………………….(and designation) for and on behalf of the Board in the presence of

1………………………………
2………………………………

 

FOOT NOTE:

Principal Regulations:  Central Governments’ sanction no. 7-PE(14)/67 dated 21/4/1969 published in the Official Gazette of the Government of Goa, Daman & Diu, Series I, no. 23 dated 4.9.69 amended by GSR No. 278 (E) dated 10/3/1987.

SUBSEQUENT AMENDMENTS:

(1) Central Governments’ sanction no. PEG(40)/77 dated 14/2/78 published in the Official Gazette of the Government of Goa, Daman & Diu, Series III, no. 48 dated 2.3.78

(2) Central Governments’ sanction no. PEG/78 dated 12/9/78 published in the Official Gazette of the Government of Goa, Daman & Diu, Series III, no. 30 dated 26.10.78.

(3)  Central Governments’ sanction no. PW/PEG-39/79 dated 5.6.80 published in the Official Gazette of Goa, Daman & Diu, Series III, no. 15 dated 10.7.80.

(4) Central Governments’ sanction published vide GSR No. 278 (E) dated 10/3/1987.

(5) Central Governments’ sanction no. PR/12015/6/86-PE-I dated 10/3/87 published vide GSR No. 278 (E) dated 10/3/1987.

(6) Central Governments’ sanction no. PR-12012/9/93-PE-I dated 23/8/93 published vide GSR No. 569(E) dated 23/8/93.

(7) Central Governments’ sanction no. PR-12016/8/95-PE-I dated 12/6/97 published vide GSR No. 320(E) dated 12/6/97.

(8) Central Governments’ sanction no. PR-12016/9/2001-PE-I dated 16/5/2001 published vide GSR No. 363(E) dated 16/5/2001.