(3)In case the foreman of a chit proposes to give immovable property as security for the conduct of a chit, he shall clearly state the correct and complete particulars regarding the property offered as security. Every such application shall be accompanied by -(a)an affidavit to the effect that-(i)the property is free from encumbrance, freehold and is in the name of the company; and(ii)the property is situated in the territory of Haryana.(b)documents of title to the property;(c)copy of mutation made by revenue authorities;(d)copy of property tax receipt or water bill or electricity bill issued by the concerned department;(e)valuation report from the registered valuer appointed by the competent authority; and(f)encumbrance certificate for the last ten years.
