Payal Gupta

7/31/2019 Payal Gupta

1/17

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


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


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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Payal Gupta

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Transcript of Payal Gupta