Search report

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CA DINESH SHARMA (Querist)
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16 August 2011 Dear friends,
Can any one guide me regarding SEARCH REPORT being required by bank for processing loan of a private limited company? Is there any particular format? if yes, pliz forward the same.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 August 2011 Banks while granting loans to Companies invariably obtain a Search report on the position of borrowings made by the Company and the particulars of charges created by the Company on its assets. This is a part of the security aspect of the amount proposed to be lent.
With the on-set of MCA21 (i.e. efiling and paperless ROC office),full time practicing company secretaries, are better equipped to provide a complete and comprehensive report. To my understanding, there is no prescribed format.

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