The following is a great post from Mr.Prakash P. Joshi. I am very thankful to him for his great effort behind creating this article. You can contact him on ppj_2001@yahoo.com
PROPOSAL(OFFER) ABOUT OUR EXPERT PROFESSIONAL SCREENING SERVICES REG…PRE APPRAISAL / DETAILED SCRUTINY STAGE CREDIT VERIFICATION / CONFIRMATION / DISCOVERY OF ANTICIDENTS \ CREDENTIALS OF THE INTENDING \ PROSPECTIVE BORROWERS OF THE BANK.
In the present competitive atmosphere, the importance of sound and healthy CREDIT PORTFOLIO building is known to and understood by one and all in the Banking Industry.
The Bank as its one of the core business activity is required to handle and deal with the large quantity of (Value & Number wise) new Credit Proposals [Fund + Non Fund based] received from its prospective clients seeking various Credit Facilities as, ongoing routine basis. At times, due to sheer volume coupled with scarcity of personnel it is very difficult and challenging to timely screen the “Basics”/ “Preliminaries” of the proposal via-a-vis that of prospective borrower at the initial stage itself so as to avoid possible wastage of time, money and energy of the concern employees of the Credit functioning Deptt. Of the Bank at a later stage.
In order to make this important task easy, effective, meaningful, economical and speedy for the Bank, our Company has developed a very efficient and useful “System & Procedure” which, we hereby offer you for the benefit of the Bank. We request you to go thru it and offer your Valuable opinion / comments / suggestions.
The brief highlighted details of the same are enumerated and explained below. We can also alter / amend / modify it exactly as per your specific requirements and thus can be just tailor-made suitable for your Bank, if required.
BRIEF HIGHLIGHTED DETAILS OF MODUS OPERANDI
Once, the Bank receives the duly completed prescribed Loan Request Application Form along with all the relevant supporting papers / documents / information etc...{File}, one complete set/copy of the same may please be handed over to us. On receiving the same and after going thru it carefully WE SHALL, ON BAHALF OF THE BANK >>>>
1] If the borrower is a going concern / company, analyze and comment on its last three (3) years submitted, Audited Annual Accounts with reference to its financial state of affairs reflected therein, from a Bankers’ point of view. We, if provided with, the Current F. Y’s data (provisional) would also opine on the progress / performance during the said period. The comments / opinion on its future estimations / projections achievability vis-s-vis technical feasibility and financial viability assessment will be out of our preview.
2] Make visit(s) to proponent’s existing Banker(s) to obtain their opinion about the applicant prospective borrower in general and about their Credit Worthiness in particular.
3] Make visit(s) to the said prospective borrower’s Office / Factory\Plant / Godown \ Warehouse / Shop / Place of work/business etc. and also to the Residential Address(es) of the Proprietor, all the Partners / Directors / Guarantors \ Sureties etc.. For confirmation / collection of relevant documentary proofs if necessary e.g. Zerox copies of PAN cards / Ration Cards / Photographs / Passport / Driving License / Election Commission \ Voter’s List Cards / Latest Electricity / Telephone / Monthly Property maintenance paid Bills etc.. {For complying KYC norms}
4] Make elaborate Market Enquiries with the main Suppliers and Customers regarding the standing & dealings of the applicant Borrower and provide you with their conveyed comments / opinion.
5] Undertake & provide verification from CIBIL caution list records.
6] If desired by you, we will informally & discretely make efforts to do certain verifications / confirmations within Mumbai, as regards to the I. T. status of the prospective borrower concern / company and that of its Proprietor / Partners / Directors / Guarantors \ Sureties along with that of its Sister / Associate group Concerns / Companies, provided if we get mandate to do so with necessary inputs.
7] Verify & confirm from the available records with the proponent whether all the statutory dues/ obligations have been paid till date.
8] Verify & confirm from the available records with the proponent whether all the Permissions / NOCs / Licenses etc... necessary for smooth running of the business are in force.
9] Verify & confirm that the immovable Assets / Properties offered as Prime / Collateral Securities as per submissions / declaration are really in existence as on the day of the visit.(will be supported with photographic proof)
10] Any other specific task area desired by you.
We undertake and ensure to handle the entire matter in a most appropriate way in confidence, without any bias / prejudice.
We shall submit our comprehensive “REPORT” on the discovered & confirmed facts with our independent opinion / comments to enable & facilitate you to take appropriate “Credit decision” and for doing further needful. All the obtained & collected papers / documents / data / information {File} will be returned to you when done with.
AREA OF OUR OPERATIONS
Presently Mumbai Zone comprising of geographical territory falling between Colaba to Virar / Khopoli (via Karjat) / Kasara / Panvel i.e. where presently local suburban train services are available.{This may, in future, extend up to Dahanu Road also}
OUR PROFESSIONAL CHARGES [As lump sum in advance please!]
A] Rs. 15,000/-{Rupees Fifteen Thousand only} per case (proposal) for the various Loan\Credit Limit(s) totally comprising up to Rupees 500.00 Lakhs.
B] Rs. 20,000/-{Rupees Twenty Thousand only} per case (proposal) for the various Loan\Credit Limit(s) totally comprising over Rupees 500.00 Lakhs.
[However, if, in a particular local case (proposal) it is felt necessary to visit outside the aforesaid mentioned area, we reasonably expect that the Bank will facilitate & arrange to provide the needful inputs to us in an appropriate manner] Further, if the Bank desires to avail some other Professional Services from us i.e. Legal Title Search Report from Advocate / Valuation Report from Valuers in respect of certain Properties / Assets offered in Prime / Collateral Securities, ROC (Mumbai) Search Report then, we can arrange for the same from our “Associates” at extra cost.
TIME FRAME FOR SUBMISSION OF OUR “REPORT”
By and within Two (2) weeks from the day of receiving mandate along with all the necessary inputs from the Bank. However, please consider to give more time if the delay is due to some unavoidable / unforeseen circumstances and uncontrollable reasons.
WE NOW LOOK FORWARD FOR OUR LONG TERM RELATIONS
FOR OUR MUTUAL BENEFITS
THANK YOU!
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