Section 7(1)(b) in The Punjab State Aid to Industries Rules, 1936
(b)a mortgage on immovable property of the applicant or of his surety or sureties, if any, of a value equal in the opinion of the Director of Industries, to not less than 1 ½ times the amount of the loan, or the unpaid balance of the price of the machinery, together with the personal security of the applicant; or(bb)[] [Clause (bb) added by Punjab Government Notification No. G.S.R. 279/P.A.5/35/Section 46/Amd.(5)/56, dated 23rd November, 1965 Omitted by Haryana Notification G.S.R. 50/P.A.5/35/Section 46/Amd.(4)/80, dated 1.5.1980.]