Mortgage of the ship by shipping company in favour of mortgagee
Official Number 			Name of Ship 				No., Date and Port of Registry
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Whether a Sailing, Steam or Motor Ship						Horse Power of Engines, if any 
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Length from fore part of steam to the shaft side
or the head of the stem post						Feet 				Tenths
Main breadth to outside of plank depth from top
of deck at side a‑midship to bottom of keel
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						Number of Tons
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		Gross 									Registered
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and as described in more detail in the Certificate of Surveyor and the ........................
 
WHEREAS we X Y & Co. Ltd., a Company incorporated under the Companies Act, 1956 and having registered office at ......................	have entered into an agreement on  ……….day of  ……….20  ……….hereinafter called the said Agreement, with Industrial Credit and Investment Corporation of India Ltd., a Company incorporated under the Companies Act, 1956 and having its registered office at...................... hereinafter called the said Creditor under which we have borrowed and the said Creditor has granted loan and advanced a sum of Rs . ……….	on the terms and conditions laid down in the said agreement.
 
AND WHEREAS under Clause  ……….of the said Agreement, we have agreed to mortgage the ship, the particulars of which are mentioned above as security for the repayment of the said loan with interest and other moneys due and payable by us to the said Creditor in terms of the said agreement and to execute a mortgage deed.
 
THEREFORE WE X Y & Co. Ltd., in consideration of the premises for ourselves, our successors and assigns, covenant with the said Industrial Credit and Investment Corporation of India Ltd., the said creditor and its successors and assigns to pay to it or them a sum of Rs . ……….with interest and other moneys due and payable by us to the said Creditor in terms of the said Agreement hereinafter called the moneys due.
 
AND for the purpose of better securing the payment of the moneys due, we do hereby mortgage to the said creditor  ……….shares of which we are the owners in the ship, the particulars of which are mentioned above.
 
AND FURTHER we for ourselves, and our successors and assigns covenant with the said creditor and its successors and assigns that we have authority and power to mortgage the said ship and the shares in the manner aforesaid and the said ship and the shares are free from encumbrances, mortgage, charge or lien of any nature.
 
IN WITNESS WHEREOF we X Y & Co. Ltd., have hereunto affixed our common seal this  ……….day of ……….20 ………. 
 
WITNESSES	The common seal of the within named Mortgagor M/s. X Y & Co. Ltd. was hereunto affixed pursuant to The Resolution of its Board of Directors passed on the  ………. day of  ……….20 ……….in the presence of Shri  ……….a Director of the Company who has signed in token thereof