Motor Car

BOMBAY PORT TRUST EMPLOYEES (Grant of Advances for Purchase of

Motor Cars and Motor Cycles) REGULATIONS, 1976.
-----------------

Regulation Content
1. Short title and commencement
2. Definitions
3. Extent of application
4. Powers of sanction
5. General Conditions : Annexure I
6. Conditions of eligibility : Regulation 18
7. Interest
8. Amount of advance : Annexure II
9. Form of application for advance
10. Advance not to be granted to employee under suspension
11. Recovery of advance
12. Recovery of interest : Regulation 7 |
Regulation 11
13. Sale or transfer
14. Advance to be refunded : if motor car or motor cycle is not
purchased within one month
15. Agreement and mortgage bonds
16. Advance with interest to be refunded forthwith when
mortgage bond is not executed in time
17. Insurance :Annexure VII
18. Conditions for grant of second advance: beforeadvance and
interest is repaid
19. Restrictions: in case of employees due to retirewithin
maximum period prescribed for repayment :Regulation 11
20. Date of drawal of advance :sub-regulation (4) of regulation
11 |Regulation 14 |Regulation 17
21. Detailed accounts of individual advances
22. Custody and disposal of mortgage bond
23. Interpretation
24. Repeal and savings

ANNEXURE I |Annexure II |Annexure III |Annexure IV |Annexure V

|Annexure VI |Annexure VII
 BOMBAY PORT TRUST EMPLOYEES
(Grant of Advances for Purchase of Motor Cars and Motor
Cycles) REGULATIONS, 1976.

-----------

In exercise of the powers conferred by section 28 of the Major Port Trusts

Act, 1963 (38 of 1963) and in supersession of all the previous regulations on
the subject, the Board of Trustees of the Port of Bombay, with the approval of
the Central Government, as required by sub-section (1) of section 124 of the
said Act, hereby makes the following regulations, 1the same having been
previously published in two successive issues of the Official Gazette, as
required by sub-section (2) of section 124, namely :-

1. Short title and commencement –

(1) These regulations may be called the Bombay Port Trust Employees (Grant
of Advances for Purchase of Motor Cars and Motor Cycles) Regulations, 1976.

(2) They shall come into force on the date2 of the publication of the
Government’s sanction in the Official Gazette.

1 Sanction by the Board by their TR No.62 of 24th February 1976. MOST’s letter
No.PEB(21)/76 dated 11th August 1976.
2. Effective from 26th August 1976.

2. Definitions – In these regulations, unless the context otherwise requires

(a) ‘Accounts Officer’ means the FA&CAO of the Board or such officer(s)
from the Accounts Department as may be nominated by the FA&CAO;

(b) 'Board’, ‘Chairman’, ‘Deputy Chairman’ shall have the meanings

respectively assigned
to them in the Major Port Trusts Act, 1963 (38 of 1963);

(c) ‘class I post’ means a post carrying a pay, or a scale of pay the
maximum of which is, Rs.1,100*, or over;

(d) ‘pay’ means pay as defined in Article 11(11) of the Bombay Port
Trust Digest of Pay and Allowances, Leave and Pension Rules, 9th
Edition;

(e) ‘Motor Cycle’ includes scooter, scootertte and auto-cycle.

* The scale of pay, viz., Rs.475-1100, recommended by the Major

Ports (Class I and Class II Non-Marine Services) Pay Committee and
 accepted by the Government has been revised to Rs.950-1630 by the
O.S.D.’s (Shri J.C. Agarwal) report accepted by the Government.

3. Extent of application – These regulations shall apply to employees

appointed to the service or posts under the Board, but shall not apply to
–
(a) persons in casual or part-time employment;
(b) persons on deputation from the Central or a State Government or
any other source;
(c) persons employed on contract except when the contract provides
otherwise.

4. Power of sanction – An advance may be sanctioned for the purchase of

a motor car or a motor cycle in accordance with the provisions of these
regulations –
(a) In the case of an employee holding a Class I post, by the
Chairman;
(b) In any other case, by the Chairman or the Deputy Chairman.

5. General Conditions –

(1) Except as provided in sub-regulation (2) an advance shall not be granted to

an employee without a substantive appointment under the Board.
(2) An employee without a substantive appointment under the Board may be
granted an advance, provided he furnishes along with his application for the grant
of such advance a surety bond, in the form prescribed in Annexure I to these
regulations from an employee with a substantive appointment under the Board
and having a status comparable to, or higher than, that of the employee who
applies for the advance.

6. Conditions of eligibility –

(1) An employee may be granted an advance for the purchase of a

motor car or motor cycle if his duties involve travelling or if the authority
competent to sanction the advance is satisfied that the possession of a
motor car or motor cycle, as the case may be, would be of material help
to the employee in the discharge of his official duties and that the
employee has the capacity to repay the advance and maintain the
conveyance in good running condition.

(2) An advance for the purchase of a motor car or motor cycle shall not
be granted to an employee, who has already purchased the motor car, or
motor cycle, and paid for it, unless the motor car, or motor cycle, has
been purchased within a period of three months commencing from the
date of advance was applied for, and has been paid for by raising a
temporary loan.
 (3) An advance for the purchase of a motor car or motor cycle shall not,
except as provided in regulation 18, be sanctioned unless the
outstanding balance in respect of an advance previously granted for the
same purpose, together with interest thereon, has been fully repaid.

7. Interest – Simple interest at the rates fixed by the Central Government

from time to time in respect of advances made by it to Government
servants for the purchase of motor cars or motor cycles shall be charged
on advances granted to employees for the purchase of motor cars or
motor cycles. Such interest shall be calculated on the balance
outstanding on the last day of each month.

Note : If in any particular case, an advance is drawn in more than one

instalment, the rate of interest recoverable should be determined
with reference to the date on which the first instalment is drawn.

8. Amount of advance – The total amount of advance which may be

granted to an employee shall not exceed –
(a) for the purchase of a twenty-five thousand rupees motor car
or twenty-five month’s
pay of the employee or the anticipated price of the motor car, whichever
is the least;

(b) for the purchase of a three thousand rupee, or ten motor cycle
months’ pay of the
employee, or the anticipated price of the motor cycle, whichever is the
least.

If the actual price of the motor car or motor cycle paid by the employee is
less than the amount of advance, he shall refund the balance to the
Board forthwith.
Note 1 : In this regulation, the expression `actual price’ includes
sales tax and the cost of such items, e.g. spare wheel, tyre 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
are also not included in `actual price’.

Note 2 : The expression ‘actual price’ used in this regulation shall also
cover, in the case of the first purchase, the following items :

(i) the cost of transportation of the conveyance upto Bombay irrespective

of whether the transport is arranged by the distributors or by the
employee himself; and

(ii) the octroi charges actually paid.

9. Form of application for advance – Applications for advance for the
purchase of a motor car or motor cycle shall be made in the form
prescribed in Annexure II to these regulations.

10. Advance not to be granted to employee under suspension –

Notwithstanding anything contained in regulation 6, an advance for the
purchase of a motor car or motor cycle 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, the payment of such advance shall not be made to
him during the period of his suspension.

11. Recovery of advance –

(1) The amount of an advance granted to an employee shall be

recovered from him in such number of equal monthly instalments, as he
may elect, but such number shall not be more than eighty, if the advance
is granted for the purchase of a motor car and, sixty, if the advance is
granted for the purchase of a motor cycle. The employee may, at his
option, repay more than one instalment in a month.
(2) Each instalment on account of repayment of an advance except the
last one shall be a number of whole rupees, the amount of last
instalment being raised or lowered, if necessary, to admit of fixation of
such instalment and recovery of the balance including any fraction of a
rupee.
(3) The authority competent to sanction an advance may, in exceptional
cases, vary the amount of monthly instalments provided that the whole
amount of advance is completely recovered in the number of instalments
not exceeding that initially fixed for repayment of the advance.
(4) 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.

12. Recovery of interest – (1) The amount of interest calculated under

regulation 7 shall be recovered in the minimum number of monthly
instalments, the amount of each such instalment being not more than the
amount of the instalment fixed under regulation 11.

13. Sale or transfer – An employee shall not sell or transfer a motor car so
long as the amount of advance together with interest on such amount is
not completely repaid except with the permission of the authority
competent to sanction such an advance.
14. Advance to be refunded if motor car or motor cycle is not purchased
within one month – Unless an employee who is sanctioned an advance
for the purchase of a motor car or motor cycle completes the purchase of,
and pays for, the motor car or motor cycle within one month from the
date on which he draws the advance, he shall refund to the Board
 forthwith the full amount of the advance together with interest on that
amount for one month.
Note 1 : The Chairman may, in exceptional cases, extend the period
of one month prescribed in this regulation to two months.

Note 2 : Where an employee refunds the full amount of the advance

before the end of the
month in which the payment of the advance was made to him, the
interest may be recovered for the actual period the advance was retained
by the employee.

15. Agreement and mortgage bonds –

An employee shall, before the payment is made to him of the advance

sanctioned for the purpose of a motor car or motor cycle, execute an
agreement in the form prescribed in Annexure III to these regulations, if
the advance is granted to him under sub-regulation (1) of regulation 6 or
in the form prescribed in Annexure IV to these regulations, if the advance
is granted to him under sub-regulation (3) of regulation 6. Immediately
on completing, but not later than seven days from the date of, the
purchase of a motor car, he shall also execute a mortgage bond in the
form prescribed in Annexure V and/or Annexure VI, as the case may be,
to these regulations, hypothecating the motor car, or motor cycle, to the
Board as security for the advance.

16. Advance with interest to be refunded forthwith when mortgage bond

is not executed in time –
The failure to execute a mortgage bond in time will render the employee
who has taken the advance liable to refund forthwith the whole of the
amount of advance with interest accrued unless good and sufficient
reason is shown to the contrary and the authority competent to sanction
an advance extends the period prescribed in this regard.

17. Insurance –

(1) An employee who purchases a motor car or a motor cycle with an

advance obtained from the Board shall, at his own cost insure, and so
long as the advance and the interest on such advance is not fully repaid,
keep so insured, the motor car, or motor cycle, against loss or damage by
fire, theft or accident. The insurance policy taken on the motor car or
motor cycle shall contain a clause indicated in Annexure VII to these
regulations. The insurance shall be arranged with the Life Insurance
Corporation of India or any other insurance company which is prepared
to insert the said clause in the insurance policy.
 (2) The amount for which the motor car or motor cycle is insured for
any period shall not be less than the outstanding balance of the advance,
with interest accrued, at the beginning of the period, but if such amount
is less, the difference shall be refunded to the Board forthwith.
(3) The failure to comply with the conditions prescribed in this
regulation will render the employee liable to refund forthwith the whole of
the amount of advance with accrued interest unless good and sufficient
reason is shown to the contrary and the authority competent to sanction
an advance waives the fulfilment of any of such conditions.

18. Conditions for grant of second advance before advance and interest
is repaid –
In cases in which an employee is permitted, by the authority competent
to sanction an advance to sell a motor car, before the amount of advance
and the interest thereon is fully repaid, in order to purchase another car,
that authority may, if the sale proceeds of the car are not sufficient to
purchase another car, sanction a second advance to the employee
subject to the following conditions :-
(a) the entire sale proceeds of the old car should be applied towards
the purchase of the newly purchased car;
(b) the amount of second advance should be restricted to the excess of
the price of the newly purchased car over the sale proceeds of the
old car, reduced by the balance outstanding in respect of the
advance previously granted;
(c) the recovery of the advance should continue to be made at the
rate previously fixed;
(d) the newly purchased car should be insured and mortgaged to the
Board;
(e) a fresh mortgage bond should be executed in favour of the Board
for the revised amount due and not for the amount originally
advanced.

19. Restrictions in case of employees due to retire within maximum

period prescribed for repayment –
If an advance is granted to an employee who is due to retire within the
maximum period prescribed for its repayment under regulation 11, the
number of instalments shall be so regulated that the repayment of
advance with interest, if any, is completed before retirement, or
termination of service, as the case may be.

20. Date of drawal of advance – For the undermentioned purposes, the date
of drawal of an advance sanctioned for the purchase of a motor car or
motor cycle shall be date of issue of the cheque by the Accounts
Department :

(i) Recovery of first instalment towards repayment of the advance (vide

sub-regulation (4) of regulation 11).
 (ii) Completion of the negotiations and purchase of a motor car or
motor cycle (vide
regulation 14).
(iii) Calculation of interest (vide regulation 17).

21. Detailed accounts of individual advances –

The Accounts officer shall maintain detailed accounts of individual

advances, watch their recovery and see that the conditions attached to
each advance are fulfilled.

22. Custody and disposal of mortgage bond – The mortgage bond shall be
kept in the safe custody of the Accounts Officer. On repayment of the
advance in full, together with the interest due thereon, the Accounts
Officer shall make an endorsement to that effect on the bond and return
the same to the employees.

23. Interpretation – If any question arises as to the interpretation of these

regulations, it shall be referred to the Chairman whose decision thereon
shall be final.

24. Repeal and savings – All regulations corresponding to these regulations

and in force immediately before the commencement of these regulations
are hereby repealed.
Provided that any order made or any action taken under the regulations
so repealed shall be deemed to have been made or taken under the
corresponding provisions of these regulations.
 ANNEXURE I

[See regulation 5(2)]

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 bond up to the Board of Trustees of
the Port of Bombay (hereinafter called “the Board”) 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 the truly made I hereby bind
myself, my heirs, executors, administrators and representatives firmly by these
presents. In witness whereof I have signed this bond this ___________________ day of
___________________ one thousand nine hundred and _________________________.
WHEREAS the Board has agreed to grant to _____________________ son of
_________________________________ a resident of _________________ in the District of
___________________ at present employed as temporary ___________________________in
the _______________________ (hereinafter called “the 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
_______________________ of the Bombay Port Trust Employees (Grant of Advances for
Purchase of Motor Cars and Motor Cycles) Regulations, 1976, thereon or on so much
thereof as shall for the time being remain due and unpaid 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 is hereunder written.

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 from 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 from 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.

_____________________
(Signature of Surety)

Signed &
delivered
by the said ___________ (designation) ____________________

______________________ Office to which

attached ____________________

at ____________________ In the presence of :-

this __________________
of ____________________ (i) _____________________________
19____________________ (ii) _____________________________

Signature,

Address
& occupation
of the Witnesses. ACCEPTED
For and on behalf of the Board
 ANNEXURE II

(SeeRegulation 9)
APPLICATION FORM FOR ADVANCE FOR THE PURCHASE OF MOTOR CAR/MOTOR
CYCLE
--------------------------
1. Name of applicant

2. Applicant’s designation
3. Whether entitled to conveyance/ motor Car Allowance and if so, the rate per
mensem
4. Pay :-
(i) Substantive pay
(ii) Officiating pay or pay drawn in a temporary post
(iii) Special/Personal pay
5. Anticipated price of motor car/motor cycle (excluding the cost of optional
accessories and insurance and registration charges)
6. Amount of advance required
7. Date of superannuation or retirement
8. Number of instalments in which the advance is desired to be repaid
9. 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
10. Whether the intention is to purchase
(a) a new or an old motor car/motor cycle
(b) if the intention is to purchase an old car whether it has been ascertained
that the car will be accepted for insurance
11. Are any negotiations or preliminary enquiries being made so that delivery may
be taken of the motor car/motor cycle within one month from the date of drawal
of the advance?
12. (a) Certified that the information given is complete and true.
(b) Certified that I have not taken delivery of the motor car/motor cycle on
account of which I apply for the advance, that I shall complete negotiations for the
purchase of, pay finally and take possession of the motor car/motor cycle 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’s signature
Date :-
 ANNEXURE III
(See Regulation 15)

Form of Agreement to be executed at the time of drawing an Advance for the

purchase of a Motor Car or Motor Cycle.
-------------
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 of the Port of Bombay (hereinafter
called the Board) of the other part. WHEREAS the Borrower has under the
provisions of the Bombay Port Trust employees (Grant of Advances for
Purchase of Motor Cars and Motor Cycles) Regulations, 1976 (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 a loan
of Rs._________________ for the purchase of a motor ________________ 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._______________ 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 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 ______________ 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 motor ____________ to the Board as
security for the amount 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 MOTOR ______________ 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 Witnesses) (Signature and designation of
the Borrower)
Signed by (name and designation)
______________________________
for and on behalf of the Board of
Trustees of the Port of Bombay
in the presence of
______________________________ ___________________________
______________________________ ___________________________
(Signature of Witnesses) (Signature and designation of
the Officer)

___________________________________________________________________
*Name and designation of the Borrower.
 ANNEXURE IV

(See Regulation 15)

Form of Agreement to be executed before drawing an Advance

for the purchase of a Motor Car or Motor Cycle.

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 the Board of Trustees of the Port of Bombay
(hereinafter called the Board) of the other part.
WHEREAS the Borrower has purchased/agreed to purchase the motor
_____________ described in the schedule hereunder written (hereinafter referred to as
the “said motor ____________”). AND WHEREAS the Borrower has under the provisions
of the Bombay Port Trust Employees (Grant of Advances for Purchase of Motor Cars
and Motor Cycles) Regulations, 1976 shall include any amendments thereof for the
time being in force) applied to the Board for a loan of Rs._____________ for the
purchase of a motor ______________ 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 in consideration of the sum of
Rs._____________ 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 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 the repayment of any
loan obtained by him from a private party/the ________________ (bank) for the
purchase of the said motor _____________ 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 motor ______________ to the Board as security for the amount
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
MOTOR ___________ 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 motor _____________ 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 Motor
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 of the Port of Bombay
in the presence of
______________________________ ___________________________
____________________________ ___________________________
(Signature of Witnesses) (Signature anddesignation of
the Officer)
_____________________________________________________________________
*Name and designation of the Borrower.
 ANNEXURE V
(See regulation 15)

Form of Mortgage Bond for Motor Car/Motor Cycle-Initial

Advance.
------------

THIS INDENTURE made this _______________ 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 of the Port of Bombay
(hereinafter called “the Board”) of the other part. WHEREAS the Borrower has applied
for and has been granted an advance of Rupees ___________________ to purchase a
Motor ________________ on the terms of Regulations __________________ of the Bombay
Port Trust Employees (Grant of Advances for Purchase of Motor Cars and Motor
Cycles) Regulations, 1976 (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 _______________ to the Board as security for the amount lent to the
Borrower AND WHEREAS the Borrower has purchased with or partly with the amount
so advanced as aforesaid the Motor ______________ 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 Rupees _________________ aforesaid or the balance thereof remaining
unpaid at the date of these presents by equal payments of Rupees _________________
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 agree that such payment 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 unto the Board the
Motor __________________ 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 ______________ and that the same is his absolute
property and that he has not pledged and so long as any money remains 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 _________________ PROVIDED ALWAYS and it is
hereby agreed and declared that if any of the said instalments 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 or at any time cease to be in Board’s service or if the
Borrower shall sell or pledge or part with the property in or possession of the said
Motor _______________ 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 said principal sum which shall then
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 _______________ and either remain in possession
thereof without removing the same or else may remove and sell the said Motor
_______________ either by public auction or private contract and may out of the sale
money 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
properly incurred or made in maintaining, defending or realising his rights hereunder
and shall pay over the surplus, if any, to the Borrower, his executors, administrators
or personal representatives PROVIDED FURTHER that the aforesaid power of taking
possession or selling of the said Motor _______________ 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 __________________ 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 are remaining due and
owing to the Board, he, the Borrower will insure and keep insured the said Motor
______________ against loss or damage by fire, theft or accident with an Insurance
Company to be approved by the Chief Account and will produce evidence to the
satisfaction of the Chief Accountant that the Motor Insurance Company with whom
the said Motor ____________ 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 ___________ to be destroyed or injured or to deteriorate in a greater
degree than 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 _______________
the Borrower will forthwith have the same repaired and made good.

THE SCHEDULE
Description of Motor
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

1. __________________________ ___________________________
2. __________________________ ___________________________
(Signature of Witnesses) (Signature an
 ANNEXURE VI

(See regulation 15)

Form of Mortgage Bond for Motor car – Second Advance when earlier advance
with interest not fully repaid.
----------------

THIS INDENTURE made this ______________ day of ___________

____________________ BETWEEN Shri _______________________ son of
________________________________ (hereinafter called `the Borrower' which
expression shall unless excluded by or repugnant to the subject or context,
include his heirs, administrators, executors and legal representative) of the ONE
PART and the Board of Trustees of the Port of Bombay (hereinafter called ‘the
Board’) of the OTHER PART.

WHEREAS by a Deed of Mortgage dated the ___________________ day of

______________ the Borrower mortgaged to the Board the Motor Car described in
the Schedule thereto (hereinafter referred to as ‘the old Motor Car’) to secure the
Motor Car purchase advance of Rs._________________ (in words as well as in
figures) 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 the borrower has made part repayments and a sum of
Rs.___________________________ (in words as well as in figures) towards principal
plus interest thereon as per the terms of the Principal Deed still remain due and
payable by the Borrower to the Board.

AND WHEREAS the Borrower being in need of a new Motor Car

(hereinafter referred to as the new Motor Car) applied to the Board for permission
to sell his old Motor Car and purchase a new one AND WHEREAS the Borrower
has been permitted to sell the old Motor Car and utilise the sale proceeds of the
old Motor Car and in terms of regulation of the Bombay Port Trust Employees
(Grant of Advances for Purchase of Motor Cars and Motor Cycles) Regulations,
1976 (hereinafter referred to as ‘the said Regulations’ which expression shall
include any amendment thereof or addition thereto for the time being in force)
towards the purchase of the new Motor Car on condition that the new Motor Car
shall be mortgage to the Board by way of security for the repayment of the sums
thus due and owing from the Borrower to Board. AND WHEREAS the sum of
Rs._____________________ is now due and owing from the Borrower for principal
AND WHEREAS the Borrower is liable in addition to pay interest as per the terms
of the Principal Deed.

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 by equal monthly
instalments of Rs.__________________ each on the first day of every month and will
pay interest on the sum of Rs._________________ originally advanced to him
hereinafter referred to as the principal according to the terms of the Principal Deed
and the Borrower doth agree 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 Car the particulars whereof are set out in the
Schedule hereunder 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 Car 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 principal will not sell, pledge or part with the property in or
possession of the said Motor car, PROVIDED ALWAYS and it is hereby agreed and
declared that if any of the said instalments 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 or at any time cease to be in Board’s service or if the
Borrower shall sell or pledge or part with the property in or possession of the said
Motor Car 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 balance of the Principal which shall then be
remaining due and unpaid together with interest on principal 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 Car and either remain in
possession thereof without removing the same or else may remove and sell the
said Motor Car either by public auction or private contract and may out of the sale
moneys retain the balance of the principal then remaining unpaid any interest
still due on the principal calculated as aforesaid and all costs, charges, expenses
and payments properly incurred or made in maintaining, defending or realising his
rights hereunder and shall pay over the surplus, if any, to the Borrower, his
executors, administrators or personal representatives PROVIDED FURTHER that
the aforesaid power of taking possession or selling of the said Motor Car 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 Car 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 are remaining due and owing to the Board, he, the Borrower will insure
and keep insured the said Motor Car against loss or damage by fire, theft or
accident with an Insurance Company to be approved by the Chief Accountant and
will produce evidence to the satisfaction of the Chief Accountant that the Motor
Insurance Company with whom the said Motor Car 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 Car 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 Car, the Borrower will forthwith have the same repaired and made
good.
 THE SCHEDULE
Description of Motor
Maker’s Name
Description
No. of Cylinders
Engine Number
Chassis No.
Cost price

IN WITNESS WHEREOF the Mortgager/Borrower has hereunto set his

hand and Shri ______________________________ in the office of
__________________________ for and on behalf of the Board has hereunto set his
hand.

*Signed by the said in the presence of

1. __________________________ ___________________________

2. __________________________ ___________________________
(Signature of Witnesses) (Signature and designation of
the Borrower)

Signed by (name and designation)

______________________________
for and on behalf of the Board of
Trustees of the Port of Bombay
in the presence of

1. ___________________________ ___________________________

2. ___________________________ ___________________________
(Signature of Witnesses) (Signature and designation of
the Officer)

______________________________________
*Name and designation of the Borrower.
 ANNEXURE VII
[See regulation 17(1)]

Form of Clause to be inserted in the Insurance Policy.

----------

1. It is hereby declared and agreed that Shri _____________________ (owner of the

Motor Car/Cycle, hereinafter referred to as the insured in the Schedule to this policy) has
hypothecated the Motor Car/Cycle to the Board of Trustees of the Port of Bombay
(hereinafter called the Board) as security for an advance for the purchase of the Motor
Car/Cycle and it is further declared and agreed that the Board is interested in any moneys
which but for this endorsement would be payable to the said
Shri ___________________________ (the insured under this policy) in respect of the
loss or damage to the said Motor Car/Cycle, (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 it is the mortgage of the Motor Car/Cycle and its 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.

----------------