LETTER OF LIEN BY THE HOLDER OF FIXED DEPOSIT TO AVAIL OVERDRAFT SANCTIONED

LETTER OF LIEN BY THE HOLDER OF FIXED DEPOSIT TO AVAIL OVERDRAFT SANCTIONED

The Manager

………………….. Bank

………………….. Branch

……………………

Dear Sir,

In consideration of the overdraft sanctioned to me and which you may sanction to me in future from time to time for my business purposes, I hereby create lien in your favour on my Fixed Deposit No …………..of your Bank for Rs …………… (Rupees …………..) and deliver to you the same duly discharged by me to be held by you on my said accounts for the outstanding general balance of my overdraft or any other accounts with you with power to utilise the proceeds thereof for adjustment of my account with you.

2. I further agree and covenant to execute such document and instrument at my cost and expenses as may be required by you to further make the said fixed deposit.

3. 1 hereby declare that I have not assigned, encumbered or otherwise dealt with the said fixed deposit receipt or any part in the said fixed deposit receipt in any way.

Yours faithfully

Date ……………….. ……………………..