SIGNATURE ON PROJECT REPORT

This query is : Resolved

Devendra (Querist)
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19 December 2010 MY FRIEND IS APPLYING FOR A NEW BUSINESS LOAN IN A BANK. HE WANTS TO SUBMIT A PROJECT REPORT TO THE BANK. WHETHER IT IS MANDATORY THAT THE PROJECT REPORT SHOULD BE PREPARED AND SIGNED BY A CHARTERED ACCOUNTANT? CAN HE HIMSELF MAKE THE SAME AND SUBMIT IT TO THE BANK?

REGRADS,
DEVENDRA KULAKARNI

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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19 December 2010 It is not necessary to project report to be signed by a CA, But it depends on bank.

CA Debasish Banerjee

CA Debasish Banerjee (Expert)
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20 December 2010 At times the bank wants the project report to be certified by the CA preparing the report. The CA should be clearly mention in his report that these are only projections prepared by his for the purpose of bank finance and also mention that since these are projections it should be read and interpreted accordingly

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