Required Before Execution of Loan Documents
Original title documents of the property
when immovable property is to be mortgaged.
A complete list of existing building showing
the type of structure, measurement, cost etc.
A Complete list of the plant and machinery
showing the numbers, make, specifications and cost of each machine acquired
upto date. The imported, indigenous and locally fabricated machines should
be listed separately. The year of construction and date of completion
in case of existing building should be mentioned. In case of machinery,
date of purchase, the name of supplier and whether the machinery is new
or old should invariably be mentioned.
A copy of plan of buildings approved by
the Industries Department/RIICO/Local Authority.
Up to date report in case of land other
than land on lease from RIICO/State Government regarding, inspection of
the records maintained in the concerned sub-registrars office relating
to charge on the assets offered in security (will be required at the time
of execution of documents).
A resolution of the Board of Directors of
the company for obtaining loan and for execution of the loan documents
in favour of the Corporation in the form as enclosed /to be supplied duly
certified by the Chairman of the meeting in which the resolution is passed
(in the Company cases).
Copies of resolutions in terms of section
293(1) (a) and 293 (1) (d) of the Companies Act, 1956 duly certified by
the Chairman of the General Meeting in which the said resolutions were
passed alongwith certificate of present borrowing from a Chartered Accountant/Chief
Executive of the Company (in case of public limited company and private
limited company, which is a subsidiary of a public limited company).
Details of bridge loan, if any, taken from
any bank against the security of assets offered to the Corporation.
Certificates Under Section 230 A of the
Income Tax Act, 1961 where mortgage deed is to be registered for loans
exceeding Rs. 50,000/-
Special Power of Attorney on non judicial
stamp paper worth Rs. 30.00 in case of partnership concern, if some of
the partners are unable to attend for execution of documents.