Section 12(1) in The Orissa Fertilizers Loans Rules, 1965
(1)Ordinary a transferable interest in immovable property, such interest being in value not less than twice the amount of the loan proposed to be sanctioned, shall be deemed to be adequate security and the owner of such interest shall be required to mortgage the same as security for repayment of the loan.Note- The value of the interest shall be calculated after making allowance for the encumbrances to which the interest is subject.
