Annexure 1

(To be stamped)

Irrevocable Undertaking / Authority/ instructions by Employee to Employer.

Date: 01-05-2015
Place: Ambikapur
To
______________________________________________________________

Carmel School
Namnakalan, Ambikapur
(To be addressed to the Salary
Disbursing Authority/ Employer)
Dear Sir,
I, Mr. David Ekka have been working as Teacher in your Organization since July
2012.I have applied for a personal loan under Personal Loan scheme from Bank of
Baroda,Ambikapur Branch (herein after called as Bank). The said branch has
agreed to sanction/ sanctioned a loan of Rs. 65000/- to me under the captioned
scheme.The loan is repayable in 36 Equated Monthly Installments of Rs. 2246/each,commencing from 31-May-2015.
One of the conditions of Sanction is that the monthly instalment / any other amount
payable by me in respect of the said loan, is to be deducted by the Employer from
my Salary and remitted to the Bank.
In the above backdrop, I hereby declare, undertake, and irrevocably authorize /
instruct you as under:
1. To deduct the monthly installment of Rs. 2246/- or any other amount as may be
advised by the Bank to you, from the monthly salary, allowances and other
remunerations payable to me and in turn remit the amount sum or sums to the said
Bank towards the installment or other sum or sums that may be due / payable by me
to the said bank towards repayment of aforesaid Personal Loan availed by me.
2. In case of change of amount of monthly installment payable by me on account of
change in Base Rate of the Bank or for any other reason whatsoever, to deduct such
revised installments, or any other dues, as may be advised by the Bank to you from
time to time, towards repayment aforesaid Personal Loan availed by me.
3. During the continuance of the said personal loan availed by me, in the event of my
/our ceasing to be in your service, whether by retirement, resignation, death or
operation of Law or for any other reason whatsoever, not to settle my terminal dues
without obtaining NOC from the Bank and to deduct and set off from the balance
standing to my credit in my P.F. account, gratuity, commutated portion of pension or
pension due to and available to me or to deduct from any other amount whatsoever
due and payable to me by your organization, and to pay the due amount to Bank of
Baroda Ambikapur Branch, towards the balance amount due on account of the said
personal loan or other sums that may be due payable by me to the Bank of Baroda
Ambikapur Branch as 1st charge holder Bank. Any such payment made by you out of
my terminal benefits, shall give valid discharge to you and shall be binding on me,

my legal heirs and legal representatives as well as my nominees of Provident

Fund/Gratuity and none of my legal heirs / LRs / nominees shall have any right to
raise any objection in this regard.
I hereby agree, undertake and declare that a demand from an authorized
representative of Bank of Baroda, certifying the amount payable by me would be the
conclusive proof of my liability and you shall be entitled to act upon the same,
without calling for any further information / statement of accounts etc. and by making
such payment you shall stand discharged from payment of the amount to me and I
shall not raise any objection in this regard.
I hereby further undertake and declare that this authorization/instructions shall hold
good notwithstanding my transfer to any place / office in your organization in India
and / or abroad and in this regard, I also undertake to give any further undertaking,
declaration etc. as may be required by you in this regard.
I hereby further undertake and declare that this authorization/ instructions shall be
irrevocable and shall not be revoked till the entire amount of aforesaid personal loan
together with interest, costs etc. stands liquidated.
Yours faithfully,
Signature
Name: Mr. David Ekka
Designation: Teacher
Employee Code No. ________
Address: Namnakalan
Ambikapur
Witness:
1. Signature
Full Name & Address ..
2. Signature
Full Name & Address ..