Easy Exit Scheme(EES) 2011- Bank's NOC

This query is : Resolved

binal salot (Querist)
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07 January 2011 Hello,

pls answer this urgently,

If Bank is not giving the NOC for the cash credit limit sanctioned earlier but closed in 1998 and the letter is misplaced than what can be the further steps.
Also if Company wants to go for EES 2011 up to 31St jan is last date and till that is it has not received that NOC than can we file application under EES 2011 without NOC and Can we submit same afterwards on query basis?

Thanks in advance

CA.Yeshwant Mehta

CA.Yeshwant Mehta (Expert)
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10 January 2011 If your secured loan is nil and if there is no secured loan outstanding and if company has not done any business activity after 1.4.2008 then you can apply under EES2011.

Need help contact us on: ca.ysmehta@icai.org

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binal salot

binal salot (Querist)
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11 January 2011 thanks'

but in roc records there exist a cc limit on the name of company than if we could not attach NOC from Bank at the time of application and provide it at the time of query to have some more time for obtaining same from bank. whether this will work?
the practical difficulty is as company had cc with SBS which had now become SBI and as bank had issued NOC eariler but the copy is misplaced and since than there were no transaction with bank. As you knpw still bank is not supporting and not providing NOC so there is problem in filing application for EES.

CA.Yeshwant Mehta

CA.Yeshwant Mehta (Expert)
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11 January 2011 In EES you have to file statement of account duly certified by chartered accountant and in statement if the secured loan from bank is shown NIL and certified by the CA then you need not collect the NOC from the bank.

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