Due diligence by bank

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Priyanka (Querist)
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14 April 2014 Whether it is mandatory to get the due diligence certificate done by a PCS or the CS in service can get it done and sign

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 April 2014 It can not be signed by CS in service. For format of report see below link--

https://www.caclubindia.com/share_files/due-diligence-report-consortium-finance-by-banks-56937.asp#.U0tvOPmSy3t

Priyanka

Priyanka (Querist)
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14 April 2014 But sir the half yearly format sent by the Bank Specifies:
Signature:
Name of the Company Secretary/CA/ Cost Acctnt

So a little bit confused about the applicability

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 April 2014 No. It refers to CS/CMA/CA in practice. If in house CA/CS/CMA are allowed to certify then the very purpose of due diligence will be defied.

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Priyanka

Priyanka (Querist)
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14 April 2014 Thnx Sir for the Clarification

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