The Corporation sanctions financial assistance on having the first charge of the fixed assets (viz. land, building and plant and machinery) of the industrial unit. The charge is secured by way of registered mortgage / equitable mortgage. In case of consortium finance with other financial institutions / Banks, the first charge will be on Pari Passu basis with participating institutions.
The Corporation accepts hypothecation of machinery in respect of loans Involving the purchase of machinery only. For transport loans TIIC's lien shall be endorsed / mark on the R C Book of the vehicle.