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Loan from Bank

SSG (1936 Points)

08 February 2010

What are the things/documents that bank ask for in giving cash credit to the customer. What's the role of CAs in obtaining it from the bank.

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5 Replies

CA Ayush Agarwal (Kolkata-Pune-Mumbai) (27344 Points)
Replied 08 February 2010

Last 3 Years Balance Sheet & PL

How Much Tax Has Been paid

What Is Income

CA Certification on BS n PL

N UR Current Account Transaction For Past Years...........

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Sushmita (Finance Officer) (142 Points)
Replied 08 February 2010

Photograph : main applicants
ID proof : Pan card/ Passport/c Driving License
Signature Proof : Pan card/ Passport/Driving License
Age Proof : Pan card/ Passport/Driving License/DOB Certificate
Residence Proof : Passport/ Voter Card/Driving License/Ration Card/ Telephone Bill/ Electricity Bill.
Office Proof : Telephone Bill/ Sales Tax registration certificate/ Electricity Bill
Ownership Proof : Electricity Bill/house tax/property papers
Income Proof : last 3 years audited financial along with audit report with all schedules.
Bank statement : main account last 6 month.
Sanction letter of existing Cash credit or overdraft limit availed by the
company.
Collateral Security : Property papers which are offered.
Constitution proof : MOA/ partnership deed
Others : any Govt. registration like service tax, sales Tax, excise,
Loan Proof : Repayment Schedule of all running loans

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SSG (1936 Points)
Replied 08 February 2010

Do bank officials visit the business premises.

Do they ask for valuation of stock by the valuer.

Do banks verify the returns of the applicant from the Income tax Department.

CA Ayush Agarwal (Kolkata-Pune-Mumbai) (27344 Points)
Replied 08 February 2010

Originally posted by : SSG
	Do bank officials visit the business premises. Do they ask for valuation of stock by the valuer. Do banks verify the returns of the applicant from the Income tax Department.