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7/31/2019 Payal Gupta
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HOUSING LOAN
O r i e n t a l B a n k o f c o m m e r c e
E s t a t e P l a z a , S a h a r a E s t a t e
J a n k i p u r a m
L u c k n o w
1 0 / 2 4 / 2 0 1 2
Smt Payal Gupta
Memorundum for sanction of housing loan of Rs Ten Lac
Only for additional construction / top up loan on the
existing house , to Mrs Payal Gupta
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MODEL PROCESS NOTE FOR RETAIL LOANS
MEMORANDUM FOR THE SANCTION OF LOAN FOR ADDITIONAL CONSTRUCTION / TOP UP
LOAN ON THE EXISTING HOUSE OF RS TEN LAC ONLY TO MRS PAYAL GUPTA
Sanctioning
Authority
Branch Manager
Date:
FOR APPROVAL
Date of receipt of proposal 19.10.2012
Date of receipt 19.10.2012
Date of raising queries 20.10.2012
Date of receipt of last reply 22.10.2012
1. BORROWERS PROFILE
Particulars Student/Borrower Co-Borrower- I Co-Borrower-II
Name Payal Gupta NIL NIL
Qualifiaction Post- graduate
Occupation Assosiate Professor
Net Worth as on 26.67 lac
Address (Permanent) J-1/87 , Kanpur road ,
Ashiana, Lucknow
PAN NO AFBPG1882Q
Passport No NIL
Loan to be raised in
names of
Mrs Payal Gupta
Date of Birth 19.02.1976
Classification of Housing loan Non Priority
ORIENTAL BANK OF COMMERCE;Branch Office, Jankipuram; Lucknow
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Advance
Asset
Classification
Standard
Credit Rating OBC HL
CIBIL Rating 648 ,
Memorandum for The sanction of housing loan of Rs Ten Lac Only for additional construction /
top up loan on the existing house , to Mrs Payal Gupta
Residence J 187 , Ashiana Colony Lucknow
Works Sri Jai Narayan PG college, Lucknow
Banking
arrangement
The customer has previously taken a housing loan from our bank
(10076011001586) of Rs 15.00 Lac , which has been running standard in our
books. The customer is also maintaining a saving account with us.
Besides , Mrs Payal Gupta is also enjoying a saving account with Uttar
Pradesh Co Operative Bank Ltd in which there is a credit balance of Rs 0.87Lac
Dealing with our
bank since
January 2010
PROFILE IN BRIEFThe borrower Mrs Payal Gupta W/o Hariom Mahawar Gupta is enjoying a housing loan with us
(10076011001586) , of Rs Fifteen Lac Only ,sanctioned under discretion of Branch Manager Mr
Girdhar Tripathi on 12.04.2010 .The borrower herself working as an Assistant Professor at Shri Jai
Narayan PG College , Lucknow . Mr Hariom Mahawar Gupta husband of the borrower andguarantor in the account is a qualified chartered accountant.
As per the credit history of borrower is concerned , cibil score of the borrower is good and does not
show any adversity The housing loan account of the borrower is running standard .Thus it lead the
borrower with satisfactory credit history.
VALUE OF ACCOUNTBeisded of the Housing Loan ,the borrower is maintaing a saving account with us also.
PRESENT PROPOSAL IN BRIEFThe borrower has a need for additional construction at House No 187 Sector J, Ashiana , LDA
Colony , Kanpur Road, Lucknow, for finishing of basement and first floor/construction ,
construction of servant room and toilet on second floor The present proposal is for the
construction of the same . The borrower has estimated the cost of construction upto Rs 14.47 lac
and proposed for the loan of Rs 10.00 Lac.
CREDIT FACILITIES SANCTIONED BY OUR / OTHER BANKS
The Credit facilities have been sanctioned to Group concern as under:(Rs in Lacs)
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Name of the
Concern/Group
Concern
Nature of
Limits
Sanctioned
Amount
Present
O/s
Rate of
Interest
Asset Classification
Mrs Payal Gupta Housing Loan Rs 15.00
Lac
Rs 14.47
Lac
8.75%
(fixed rate)
Standard
2. DETAILS OF FACILITYA. Housing Loan ( Additional Construction)
(Rs. in Lacs)
Nature of
Facility
Existing
Limit
Present
O/S
Proposed
loan
Total
Limit
Irregularity,
if any
Present
ROI
Proposed
ROI
Housing
Loan
Fresh
15.00
Lac
Rs
14.74Lac
10.00 Lac Rs 25.00
Lac
Nil 8.75% 10.65%
Total 10.00 lac
DETAILS OF PROPERTY (HOUSE)The borrower has proposed to do some additional construction at House No J-187, in Ashiana
Colony , Lucknow , measuring 247.16 Sqm , bouded by :
North: Plot No J 186
South: 9 Mt wide Road
East: 9 mt wide roadWest: Plot No J 188
ADVOCATES OPINION :The advocate Shri Arun Kumar Khare, vide its letter dated 02.04.2010 has submitted the legal
opinion cum search report of the land and building constrcuted over plot no J-187 Situated at
Ashiana colony , Lucknow measuring 247.16 Sqm. The advocate has given an opinion Smt Pyal
Gupta W/o Hariom Mahawar and Shri Hariom Mahawar S/o K C Mahawar have got a valid , clear
absolute and marketable title over the property shown above.
VALUATION DETAILS:
As per the estimation report of Mr A K Mukerjee dated 08.10.2012 , the cost of proposed finishing
of basement , first floor and construction of servant room and toilet on second floor is Rupees
Fourteen Lac Seventy Six Thousand Five Hundred Only . The valuer has taken the rates as per UP
PWD Schedule of Rates 2012.
On the other hand , Mr A K Mukerjee vide their valuation dated 08.10.2012 has come to the
realisable value of the property of Rs Ninety Five Lac Only
Details of
property
Area Detail of Valuer
& valuation date
Market value Realizable value
Plot No J-187 , in
Ashiana Colony ,Lucknow ,
247.16 Sqm M/s A K Mukerjee
dated 08.10.2012
95.00 lac
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measuring 247.16
sqm standing in
the name of Smt
Pyal Gupta & Shri
Hariom Mahawar
, registered withsubregistrar
pratham , srl no
4192/04 volume
6212 book no 1
from page no 397-
412 dated
12.09.2004
B. VEHICLE LOAN:Nature of
Facility
Existing
Limit
Present
O/S
Proposed
limit
Irregularity,
if any
Present
ROI
Proposed
ROI
Vehicle
Loan -
Fresh
Total
DETAILS OF MOVABLE ASSETAsset Model/Make Purchase value Seller
C. EDUCATION LOANI. DETAILS OF THE EDUCATIONAL COURSE TO BE UNDERTAKEN
Whether loan required for study in India or abroad
Name and address of the Educational Institution where the study
is to be undertaken
Whether the Educational Institution is recognized/
approved/affiliated/accredited to AICTE/ Government/ University.
If not, whether approved by Oriental Bank of Commerce for
considering Education Loan
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Name of the course of study for which loan applied
Whether the course is part-time or full time
Duration of the Course
II. Purpose of Loan and details of expenses for the study
Expenses (Certified by
Institution)
1st
Yea
r
2nd
Yea
r
3rdYear 4rt
h
Yea
r
5th
Yea
r
Tot
al
% Tot
al
Admisssion Fees/Tution Fees
Caution Money
Library Security Deposit
Lodging/ Boarding Charges
Medical Facility
TOTAL
Means of Finance
Own Sources (Margin)
Bank Finance
TOTAL
4. DETAIL OF SECURITY OFFERED:Extension of Equitable Mortgage of Plot No J-187 , in Ashiana Colony , Lucknow , measuring 247.16
sqm standing in the name of Smt Pyal Gupta & Shri Hariom Mahawar , registered with
subregistrar pratham , srl no 4192/04 volume 6212 book no 1 from page no 397-412 dated
12.09.2004 having realizable value of Rs
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5. PERSONAL GUARANTEE:
Personal Guarantee of Shri Hariom Mahawar having financial net worth of Rs 44.45 Lac Only . The
guarantor is husband of Mrs Payal Gupta and is also a proprietor of M/s Hariom and Assosiates .
He is working as Chartered Accountant in that firm.
6.
REPAYMENT PERIOD
The repayment period has been computed as under:
As per the loan policy for housing loan top up , loan period of both the housing loan should end at
the same time which lead us to a loan period of 150 Months . But the borrower has requested us to
increase the tenour of prevously sanctioned loan , so that there would be less stress of EMI of boththe loans .
Maximum repayment period which could be made available to the borrower at the time of
previous sanction dated 12.04.2010 is 300 out of which 2 years has already passed . Thus we are
left withmaximum eligible repayment period of 246 Months. The customer has requested for the
loan of 210 Months . Therefore, we have reached the maximum repayment period of 210 Months
7. ASSESSMENT OF INCOMEThe details of the total income of the borrowers are as under:(As per the ITRs filed )
(Rs. in lacs)
Particulars of income Assessment
Year 2012-13
Asssessment
Year 2011-12
Average
of 2 FYs.
Income from salary 540355/- 448703/- 494529/-
Income from Business 0/- 0/- 0/-
Income from Capital Gain 0/- 0/- 0/-
Total deduction 217120/- 51136/- 242688/-
TOTAL 323235/- 21560/- 2151841
8. MPBF CALCULATION1) On Margin criteriaTotal Cost of Asset to be bought Rs 14.76 Lac
Margin@25% Rs 3.69 Lac
MPBF Rs 11.07 Lac
Loan Eligibility : Rs 11.07 Lac
2) Gross Monthly Income Critieria:
Date of birth 19.02.1976
Max. Repayment period permitted up to 60 years 19.02.2036
Residual repayment available 23 years
Maximum permissible repayment period 25 years
Repayment period of previous housing loan 15 Years
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Name of the Borrower Gross Monthly salary
( As per the latest salary
slip)
MPBF( 60 times of gross
salary)
Smt Payal Gupta Rs 51860/- Rs 31.16 Lac
Loan eligibility : Rs 31.16 Lac
3) Net Take Home CriteriaS.No. Particulars
Name of Borrower Smt Payal Gupta
a. Age 36 Years
b. Repayment Years 23 Years
c. Gross Annual Income Rs 6.24 Lac
d. Gross Monthly Income Rs 0.52 Lace. Net take Home(%age) 40%
f. Net take Home Rs 0.208
g. Monthly Net take Home (d-f) Rs 0.312
h. Monthly Deductions* Rs 0.21 Lac
i. Fund Available for EMI (g-h) Rs 0.102 Lac
j. EMI per Lac Rs Lac
MPBF Rs Lac
* Rs.0.15 lac has been deducted against the housing loan availed by the borrower from
our bank
Total Loan eligibility= Rs Lacs.
Hence, on the basis of whichever is less criteria the maximum permissible loan in this case shall be
Rs. Lac
Borrower has applied for a loan of Rs10.00 Lac
9.
RECOMMENDATIONS FOR MPBF
On calculation of the MPBF of the borrower on the above three computation, the maximum
permissible limit comes to Rs . 11.16 lacs on the basis of the income calculations . As such we may
consider home loan limit of Rs 10.00 lac
11. OBSERVATIONS OF THE PRE- SANCTION VISIT
The pre-sanction visit has been conducted by the Manager (Loans) Shri Pramod Kumar Dubey. The
detailed visit report is enclosed with the process note.
12. RBI /BANK POLICY ON FINANCING INDUSTRY:
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There are no restrictions as per RBI/Banks policy guidelines for such type of advance. Our Bankspolicy also states to consider proposed loan on usual terms and conditions and no restriction is
imposed.
13. ANY CONCESSION/RELIEF BY WAY OF MARGIN /COMMISSION/ INTEREST.
Particulars Norms as per scheme Deviations / concessions sought
14. OUR OBSERVATIONS ON RECOMMENDED DEVIATION
a): -----------Not Applicable---------.
b) :----------Not Applicable---------.
RECOMMENDATIONS( Housing Loan)
TERMS & CONDITIONS OF SANCTION
Name of Borrower Smt Payal Gupta
Branch/Region Jankipuram
Memorandum for Housing Loan of Rupees Ten Lac Only for additional construction
/ Top UP
(A) Terms of SanctionNature of Facility Housing Loan additional construction / Top UP
Amount of Loan Rs 10.00 lacs only(Rupees fourty lacs only)
Classification Housing Loan Non priority Sector
Security Extension of Equitable Mortgage of Plot No J-187 , in Ashiana Colony ,
Lucknow , measuring 247.16 sqm standing in the name of Smt Pyal Gupta
& Shri Hariom Mahawar , registered with subregistrar pratham , srl no
4192/04 volume 6212 book no 1 from page no 397-412 dated 12.09.2004
having realizable value of Rs95.00 Lac as per the valuation of Mr A KMukerjee dated 18.10.2012
Rate of Interest Base rate + 0.25% =10.65% p.a. (floating) (Present Base Rate is10.40 %)
with monthly rests subject to changes in base rate / Spread announced by
the Bank / RBI from time to time.
Penal Interest@ 2.00 p.a. over & above the applicable rate shall be
charged for irregular amount and for the period of irregularity.
Intimation of change in Interest Rate:-
The borrower shall be deemed to have notice of changes in the rate of
interest whenever there are changes in Base Rate either increase or
decrease in interest rates. By display of Base Rate on the Notice Board ofthe Branch or published in news papers or made through entries of the
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interest rate charged in the passbook/statement of account furnished to
the borrower and the borrower is liable to pay such revised rate of interest.
Margin
(Minimum 25_%)
32 %. The borrower shall contribute margin / the difference of loan
amount and purchase price, before release of the loan.
Process Fee Nil ( As per the HO Circular No: HO/Retail/20/2012-13/398 dated
07.09.2012)Bounced cheque/ECS
or SI dishonours:-
A penalty of Rs 250/- + service tax will be charged for every bounced
cheque/ECS or SI dishonors related to payment of EMI. The rate may vary
from time to time.
Repayment Schedule a) The loan shall be repaid in 210 EMI of Rs.10520/- each commencing
from November months. The instalment amount may vary from time to
time on the eventuality of changes in our base rate.
b) The accrued monthly interest shall be served in the first week of
following month, during the moratorium of Nil months.
c) Moratorium period- Nil months from the date of first disbursement.
Disbursement
Schedule
Disbursment shall be made available to the borrower in four
schedule , subject to availability of completion certificate dulycertified by architect.
Insurance The house shall be got insured under agreed bank clause. The insurance
premium shall be borne by the party.
Inspection The house shall be inspected by Bank Official on half-yearly or oftener on
irregular interval with prior intimation to the party. The party will
authorize the bank officials to conduct such inspection.
GENERAL TERMS AND CONDITIONS
1. Prior to release of facility branch shall ensure that a fresh search certificate cum legal opinionbe obtained from Banks panel advocate confirming that the requisite search has been made in
the books of registrar and the builder has derived the right to sell / ownership to execute
agreement to sale in favour of subject borrower.
2. Prior to release of facility branch shall ensure that all the documentation formalities arecompleted and mortgage documents is obtained as per the directives of advocate. Documents
shall be got vetted from the Bank's legal retainer. BCC shall be submitted within 15 days of
disbursement of the credit facilities.
3. Prior to release of facility a letters of declaration from the sellers and the borrower that thesaid property is not subject to any charge/lien to any bank/ financial institution / authority
and the society and (i) borrower has not raised any loan against the said house, (ii) the said
plot/house is not located in an unauthorized colony (iii) that the said plot /house is for
residential use and shall not be used for commercial purpose.
4. Prior to release of credit facility, the branch shall ensure that the proposed residential propertyis in conformity the applicable statutory/non statutory and regulatory guidelines applicable to
the project. An affidavit cum undertaking be obtained from borrower that the built up
property has been constructed as per the sanctioned plan and /or building bye laws. Architects
Certificate in this regard shall also be obtained.
5. The borrower during the entire currency of the loan shall maintain the house in good conditionat his own cost and keep the same free from all encumbrances, pay all taxes and other
statutory dues and that he will permit any representative of the bank to inspect the property
from time to time at the banks option/discretion with advance intimation to the borrower.
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6. Branch shall obtain post-dated cheques (minimum 48 monthly installments at a time) along
with undertaking from the borrower as per specimen under housing finance scheme.
7. Pre-payment penalty of 2% shall be charged on account of shifting of loan from our bank toother Bank / Financial Institution. An undertaking to this effect be obtained and kept on
record.
8. All other conditions as circulated by Head Office vide its circular dated 11.4.2000, 01.07.2002 &06.07.2011 and further amendments thereon, pertaining to above scheme / loan shall strictly
be complied with.
9. All other undertaking as per Annexure A shall be obtained and other conditions as perAnnexure B shall be duly complied with.
Special terms and condition:
The borrower shall repay the existing housing loan (10076011001586) of Rupees
Fifteen Lakh sanctioned under branch power, dated 29.03.2010 in next 210 months(after rescheduling of the loan period from existing 181 months to 240 months at
the request of the borrower vide theire letter dated 23.10.2012) with an EMI of Rs
15593 as per the present outstanding Of Rs 1482195- ( with interest upto date)
Branch Manager
Branch Office : Jankiupram
ANNEXURE A
VARIOUS UNDERTAKINGS TO BE OBTAINED FROM THE BORROWER ON LETTER PAD
The branch shall obtain suitable undertakings from the borrower with regard to the following:
1. The names of Borrowers do not figure in any list of defaulters circulated by RBI or any Bankand Financial Institution nor their names as partners/directors appear in caution list issued by
RBI/ECGC/DGFT etc.
2. That all required Statutory and/or Regulatory permissions or guidelines from local or othercompetent authorities have been obtained (as applicable).3. An undertaking shall be obtained from the borrowers (mortgager) that no dues of tax are
outstanding against them.
4. To issue appropriate undertaking / affidavits / certificates as the Bank may require from timeto time certifying that the funds comprising of entire amount of loan / facility / sum due /
amount outstanding in the account have been used exclusively for the purpose for which they
were obtained and the same have not been diverted / siphoned and no misrepresentation has
been caused of any kind or accounts falsified/any fraudulent transaction have been carried out
etc.
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5. To keep the Bank informed of the happening of any event likely to have a substantial effect on
their income.
6. Not to create any further charge, lien or encumbrance over the assets and properties of thecompany to be charged to the bank in favour of any other bank, financial institution, Company,
firm or person.
ANNEXURE B
OTHER GENERAL TERMS & CONDITIONS OF SANCTION
1) Satisfactory CRs shall be obtained from other Banks from whom the borrower/ associatesare enjoying / sanctioned credit facilities and it shall be ensured that the account is a
Standard Asset with them, before release of limit.
2) An undertaking shall be obtained from the owners of the properties mortgaged to the Bankthat there are no arrears of tax including interest leviable thereon under various
provisions of Income Tax Act, against them.
3) All statutory and/or Regulatory permissions or guidelines from local or other competentauthorities shall be obtained by the branch/borrower (as applicable).
4) Advance / Facility sanctioned shall be used for the specific purpose for which it issanctioned and not for any other purpose. End use of the funds/facility shall be ensured by
the Branch.
5) In terms of HO Circular No.HO/R&L/14/2001-02/355 dated 09.02.2002, an affidavitand undertaking about the names, age and address of legal heirs of the borrower /
obligants / guarantors shall be obtained, which shall be recorded and updated
from time to time.
6) In terms of HO Circular No.ADV/17/2004-05 dated 29.05.2004 necessary documents/ declaration from the borrower/guarantor pertaining to Credit Information
Bureau of India (CIBIL) shall be obtained.
7) The credit facilities sanctioned to the borrower should be availed within a period of sixmonths of the date of sanction failing which the sanction shall lapse.
8) Bank reserves the right to withdraw the sanction at any time in case any new facts etccome to light.
9) It shall be ensured that all the papers obtained from the borrower / (in pre and postsanction phase) are duly signed by the authorized signatory.
**************
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SANCTION LETTER
ORIENTAL BANK OF COMMERCE
Branch Office, Jankiupram
:
Date:24.09.2012
TERMS & CONDITIONS OF SANCTION
Name of Borrower Smt Payal Gupta
Branch/Region Jankipuram
Date of sanction 23.10.2012
Memorandum for Housing Loan of Rupees Ten Lac Only for additional construction
/ Top UP
(B) DeviationsParticulars Norms as per scheme Deviations approved
NIL
(C) Terms of SanctionNature of Facility Housing Loan additional construction / Top UPAmount of Loan Rs 10.00 lacs only(Rupees fourty lacs only)
Classification Housing Loan Non priority Sector
Security Extension of Equitable Mortgage of Plot No J-187 , in Ashiana Colony ,
Lucknow , measuring 247.16 sqm standing in the name of Smt Pyal Gupta
& Shri Hariom Mahawar , registered with subregistrar pratham , srl no
4192/04 volume 6212 book no 1 from page no 397-412 dated 12.09.2004
having realizable value of Rs95.00 Lac as per the valuation of Mr A K
Mukerjee dated 18.10.2012
Rate of Interest Base rate + 0.25% =10.65% p.a. (floating) (Present Base Rate is10.40 %)
with monthly rests subject to changes in base rate / Spread announced by
the Bank / RBI from time to time.
Penal Interest@ 2.00 p.a. over & above the applicable rate shall be
charged for irregular amount and for the period of irregularity.
Intimation of change in Interest Rate:-
The borrower shall be deemed to have notice of changes in the rate of
interest whenever there are changes in Base Rate either increase or
decrease in interest rates. By display of Base Rate on the Notice Board of
the Branch or published in news papers or made through entries of the
interest rate charged in the passbook/statement of account furnished to
the borrower and the borrower is liable to pay such revised rate of interest.
Margin(Minimum 25_%)
32 %. The borrower shall contribute margin / the difference of loanamount and purchase price, before release of the loan.
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Process Fee Nil ( As per the HO Circular No: HO/Retail/20/2012-13/398 dated
07.09.2012)
Bounced cheque/ECS
or SI dishonours:-
A penalty of Rs 250/- + service tax will be charged for every bounced
cheque/ECS or SI dishonors related to payment of EMI. The rate may vary
from time to time.
Repayment Schedule a) The loan shall be repaid in 210 EMI of Rs.10520/- each commencingfrom November months. The instalment amount may vary from time to
time on the eventuality of changes in our base rate.
b) The accrued monthly interest shall be served in the first week of
following month, during the moratorium of Nil months.
c) Moratorium period- Nil months from the date of first disbursement.
Disbursement
Schedule
Disbursment shall be made available to the borrower in four
schedule , subject to availability of completion certificate duly
certified by architect.
Insurance The house shall be got insured under agreed bank clause. The insurance
premium shall be borne by the party.
Inspection The house shall be inspected by Bank Official on half-yearly or oftener onirregular interval with prior intimation to the party. The party will
authorize the bank officials to conduct such inspection.
GENERAL TERMS AND CONDITIONS
10.Prior to release of facility branch shall ensure that a fresh search certificate cum legal opinionbe obtained from Banks panel advocate confirming that the requisite search has been made in
the books of registrar and the builder has derived the right to sell / ownership to execute
agreement to sale in favour of subject borrower.
11.Prior to release of facility branch shall ensure that all the documentation formalities arecompleted and mortgage documents is obtained as per the directives of advocate. Documentsshall be got vetted from the Bank's legal retainer. BCC shall be submitted within 15 days of
disbursement of the credit facilities.
12.Prior to release of facility a letters of declaration from the sellers and the borrower that thesaid property is not subject to any charge/lien to any bank/ financial institution / authority
and the society and (i) borrower has not raised any loan against the said house, (ii) the said
plot/house is not located in an unauthorized colony (iii) that the said plot /house is for
residential use and shall not be used for commercial purpose.
13.Prior to release of credit facility, the branch shall ensure that the proposed residential propertyis in conformity the applicable statutory/non statutory and regulatory guidelines applicable to
the project. An affidavit cum undertaking be obtained from borrower that the built upproperty has been constructed as per the sanctioned plan and /or building bye laws. Architects
Certificate in this regard shall also be obtained.
14.The borrower during the entire currency of the loan shall maintain the house in good conditionat his own cost and keep the same free from all encumbrances, pay all taxes and other
statutory dues and that he will permit any representative of the bank to inspect the property
from time to time at the banks option/discretion with advance intimation to the borrower.
15.Branch shall obtain post-dated cheques (minimum 48 monthly installments at a time) alongwith undertaking from the borrower as per specimen under housing finance scheme.
16.Pre-payment penalty of 2% shall be charged on account of shifting of loan from our bank toother Bank / Financial Institution. An undertaking to this effect be obtained and kept onrecord.
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17.All other conditions as circulated by Head Office vide its circular dated 11.4.2000, 01.07.2002 &
06.07.2011 and further amendments thereon, pertaining to above scheme / loan shall strictly
be complied with.
18.All other undertaking as per Annexure A shall be obtained and other conditions as perAnnexure B shall be duly complied with.
Special terms and condition:
The borrower shall repay the existing housing loan (10076011001586) of Rupees
Fifteen Lakh sanctioned under branch power, dated 29.03.2010 in next 210 months
(after rescheduling of the loan period from existing 181 months to 240 months at
the request of the borrower vide theire letter dated 23.10.2012) with an EMI of Rs
15593 as per the present outstanding Of Rs 1482195- ( with interest upto date)
Branch Manager
Branch Office : Jankiupram
ANNEXURE A
VARIOUS UNDERTAKINGS TO BEOBTAINED FROM THE BORROWER ON LETTER PAD
The branch shall obtain suitable undertakings from the borrower with regard to the following:
7. The names of Borrowers do not figure in any list of defaulters circulated by RBI or any Bankand Financial Institution nor their names as partners/directors appear in caution list issued by
RBI/ECGC/DGFT etc.
8. That all required Statutory and/or Regulatory permissions or guidelines from local or othercompetent authorities have been obtained (as applicable).
9. An undertaking shall be obtained from the borrowers (mortgager) that no dues of tax areoutstanding against them.
10.To issue appropriate undertaking / affidavits / certificates as the Bank may require from timeto time certifying that the funds comprising of entire amount of loan / facility / sum due /
amount outstanding in the account have been used exclusively for the purpose for which they
were obtained and the same have not been diverted / siphoned and no misrepresentation has
been caused of any kind or accounts falsified/any fraudulent transaction have been carried out
etc.
11.To keep the Bank informed of the happening of any event likely to have a substantial effect ontheir income.
12.Not to create any further charge, lien or encumbrance over the assets and properties of thecompany to be charged to the bank in favour of any other bank, financial institution, Company,firm or person.
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ANNEXURE B
OTHER GENERAL TERMS & CONDITIONS OF SANCTION
10) Satisfactory CRs shall be obtained from other Banks from whom the borrower/ associatesare enjoying / sanctioned credit facilities and it shall be ensured that the account is a
Standard Asset with them, before release of limit.
11) An undertaking shall be obtained from the owners of the properties mortgaged to the Bankthat there are no arrears of tax including interest leviable thereon under various
provisions of Income Tax Act, against them.
12) All statutory and/or Regulatory permissions or guidelines from local or other competentauthorities shall be obtained by the branch/borrower (as applicable).
13) Advance / Facility sanctioned shall be used for the specific purpose for which it issanctioned and not for any other purpose. End use of the funds/facility shall be ensured by
the Branch.
14) In terms of HO Circular No.HO/R&L/14/2001-02/355 dated 09.02.2002, an affidavitand undertaking about the names, age and address of legal heirs of the borrower /
obligants / guarantors shall be obtained, which shall be recorded and updated
from time to time.
15) In terms of HO Circular No.ADV/17/2004-05 dated 29.05.2004 necessary documents/ declaration from the borrower/guarantor pertaining to Credit Information
Bureau of India (CIBIL) shall be obtained.
16) The credit facilities sanctioned to the borrower should be availed within a period of sixmonths of the date of sanction failing which the sanction shall lapse.
17) Bank reserves the right to withdraw the sanction at any time in case any new facts etccome to light.
18) It shall be ensured that all the papers obtained from the borrower / (in pre and postsanction phase) are duly signed by the authorized signatory.
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7/31/2019 Payal Gupta
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