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HOUSING LOAN

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

Oriental Bank of commerce Estate Plaza, Sahara Estate Jankipuram Lucknow 10/24/2012

MODEL PROCESS NOTE FOR RETAIL LOANS ORIENTAL BANK OF COMMERCE;Branch Office, Jankipuram; Lucknow

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 Date of receipt Date of raising queries Date of receipt of last reply 1. BORROWERS PROFILE

19.10.2012 19.10.2012 20.10.2012 22.10.2012

Particulars Name Qualifiaction Occupation Net Worth as on Address (Permanent)

Student/Borrower Payal Gupta Post- graduate Assosiate Professor 26.67 lac J-1/87 , Kanpur road , Ashiana, Lucknow AFBPG1882Q NIL Mrs Payal Gupta

Co-Borrower- I NIL

Co-Borrower-II NIL

PAN NO Passport No Loan to be raised in names of Date of Birth

Classification of

19.02.1976 Housing loan Non Priority

Advance Asset Classification Credit Rating CIBIL Rating Memorandum for Residence Works Banking arrangement Standard OBC HL 648 , The sanction of housing loan of Rs Ten Lac Only for additional construction / top up loan on the existing house , to Mrs Payal Gupta J 187 , Ashiana Colony Lucknow Sri Jai Narayan PG college, Lucknow 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 0.87 Lac January 2010

Dealing with our bank since

PROFILE IN BRIEF The 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 and guarantor 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 ACCOUNT Beisded of the Housing Loan ,the borrower is maintaing a saving account with us also. PRESENT PROPOSAL IN BRIEF The 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)

Name of the Nature of Concern/Group Limits Concern Mrs Payal Gupta Housing Loan

Sanctioned Present Amount O/s Rs 15.00 Lac Rs 14.47 Lac

Rate of Interest 8.75% (fixed rate)

Asset Classification Standard

2.

DETAILS OF FACILITY

A. Housing Loan ( Additional Construction)


(Rs. in Lacs) Nature of Existing Facility Limit Housing 15.00 Loan Lac Fresh Total Present Proposed Total O/S loan Limit Rs 10.00 Lac Rs 25.00 14.74 Lac Lac 10.00 lac Irregularity, Present Proposed if any ROI ROI Nil 8.75% 10.65%

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 road West: 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 Plot No J-187 , in Ashiana Colony , Lucknow , Area 247.16 Sqm Detail of Valuer & valuation date M/s A K Mukerjee dated 08.10.2012 Market value Realizable value 95.00 lac

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 397412 dated 12.09.2004

B. VEHICLE LOAN: Nature of Facility Vehicle Loan Fresh Total Existing Limit Present O/S Proposed limit Irregularity, if any Present ROI Proposed ROI

DETAILS OF MOVABLE ASSET Asset Model/Make Purchase value Seller

C. EDUCATION LOAN
I. 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

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 1st Yea r Expenses (Certified by Institution) Admisssion Fees/Tution Fees Caution Money Library Security Deposit Lodging/ Boarding Charges Medical Facility 2nd Yea r 3rd Year 4rt h Yea r 5th Yea r Tot al % Tot al

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

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: Date of birth Max. Repayment period permitted up to 60 years Residual repayment available Maximum permissible repayment period Repayment period of previous housing loan 19.02.1976 19.02.2036 23 years 25 years 15 Years

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 both the 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 INCOME The details of the total income of the borrowers are as under:(As per the ITRs filed ) (Rs. in lacs) Particulars of income Assessment Asssessment Average Year 2012-13 Year 2011-12 of 2 FYs. Income from salary Income from Business Income from Capital Gain Total deduction TOTAL 540355/0/0/217120/323235/448703/0/0/51136/21560/494529/0/0/242688/2151841

8. MPBF CALCULATION 1) On Margin criteria Total Cost of Asset to be bought Margin@25% MPBF Loan Eligibility : Rs 11.07 Lac 2) Gross Monthly Income Critieria: Rs 14.76 Lac Rs 3.69 Lac Rs 11.07 Lac

Name of the Borrower Smt Payal Gupta Loan eligibility : Rs 31.16 Lac 3) Net Take Home Criteria S.No. a. b. c. d. e. f. g. h. i. j. Particulars

Gross Monthly salary ( As per the latest salary slip) Rs 51860/-

MPBF( 60 times of gross salary) Rs 31.16 Lac

Name of Borrower Age Repayment Years Gross Annual Income Gross Monthly Income Net take Home(%age) Net take Home Monthly Net take Home (d-f) Monthly Deductions* Fund Available for EMI (g-h) EMI per Lac MPBF

Smt Payal Gupta 36 Years 23 Years Rs 6.24 Lac Rs 0.52 Lac 40% Rs 0.208 Rs 0.312 Rs 0.21 Lac Rs 0.102 Lac Rs Rs Lac 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:

There are no restrictions as per RBI/Banks policy guidelines for such type of advance. Our Banks policy 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 Branch/Region Memorandum for (A) Terms of Sanction Nature of Facility Amount of Loan Classification Security Housing Loan additional construction / Top UP Rs 10.00 lacs only(Rupees fourty lacs only) Housing Loan Non priority Sector 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 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 Smt Payal Gupta Jankipuram Housing Loan of Rupees Ten Lac Only for additional construction / Top UP

Rate of Interest

Margin (Minimum 25_%) Process Fee Bounced cheque/ECS or SI dishonours:Repayment Schedule

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. 32 %. The borrower shall contribute margin / the difference of loan amount and purchase price, before release of the loan. Nil ( As per the HO Circular No: HO/Retail/20/2012-13/398 dated 07.09.2012) 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. 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. Disbursment shall be made available to the borrower in four schedule , subject to availability of completion certificate duly certified by architect. The house shall be got insured under agreed bank clause. The insurance premium shall be borne by the party. 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.

Disbursement Schedule Insurance Inspection

GENERAL TERMS AND CONDITIONS 1. Prior to release of facility branch shall ensure that a fresh search certificate cum legal opinion be 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 are completed 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 the said 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 property is 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 condition at 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.

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 to other 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 per Annexure 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 Bank and 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 other competent 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 time to 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.

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 the company 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/ associates are enjoying / sanctioned credit facilities and it shall be ensured that the account is a Standard Asset with them, before release of limit. An undertaking shall be obtained from the owners of the properties mortgaged to the Bank that there are no arrears of tax including interest leviable thereon under various provisions of Income Tax Act, against them. All statutory and/or Regulatory permissions or guidelines from local or other competent authorities shall be obtained by the branch/borrower (as applicable). Advance / Facility sanctioned shall be used for the specific purpose for which it is sanctioned and not for any other purpose. End use of the funds/facility shall be ensured by the Branch. In terms of HO Circular No.HO/R&L/14/2001-02/355 dated 09.02.2002, an affidavit and 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. 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. The credit facilities sanctioned to the borrower should be availed within a period of six months of the date of sanction failing which the sanction shall lapse. Bank reserves the right to withdraw the sanction at any time in case any new facts etc come to light. It shall be ensured that all the papers obtained from the borrower / (in pre and post sanction 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 Branch/Region Date of sanction Memorandum for (B) Deviations Norms as per scheme NIL Deviations approved Smt Payal Gupta Jankipuram 23.10.2012 Housing Loan of Rupees Ten Lac Only for additional construction / Top UP

Particulars

(C) Terms of Sanction Nature of Facility Amount of Loan Classification Security Housing Loan additional construction / Top UP Rs 10.00 lacs only(Rupees fourty lacs only) Housing Loan Non priority Sector 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 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. 32 %. The borrower shall contribute margin / the difference of loan amount and purchase price, before release of the loan.

Rate of Interest

Margin (Minimum 25_%)

Process Fee Bounced cheque/ECS or SI dishonours:Repayment Schedule

Nil ( As per the HO Circular No: HO/Retail/20/2012-13/398 dated 07.09.2012) 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. 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. Disbursment shall be made available to the borrower in four schedule , subject to availability of completion certificate duly certified by architect. The house shall be got insured under agreed bank clause. The insurance premium shall be borne by the party. 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.

Disbursement Schedule Insurance Inspection

GENERAL TERMS AND CONDITIONS 10. Prior to release of facility branch shall ensure that a fresh search certificate cum legal opinion be 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 are completed 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. 12. Prior to release of facility a letters of declaration from the sellers and the borrower that the said 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 property is 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. 14. The borrower during the entire currency of the loan shall maintain the house in good condition at 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) along with 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 to other Bank / Financial Institution. An undertaking to this effect be obtained and kept on record.

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 per Annexure 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: 7. The names of Borrowers do not figure in any list of defaulters circulated by RBI or any Bank and 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 other competent authorities have been obtained (as applicable). 9. An undertaking shall be obtained from the borrowers (mortgager) that no dues of tax are outstanding against them. 10. To issue appropriate undertaking / affidavits / certificates as the Bank may require from time to 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 on their income. 12. Not to create any further charge, lien or encumbrance over the assets and properties of the company 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 10) Satisfactory CRs shall be obtained from other Banks from whom the borrower/ associates are enjoying / sanctioned credit facilities and it shall be ensured that the account is a Standard Asset with them, before release of limit. An undertaking shall be obtained from the owners of the properties mortgaged to the Bank that there are no arrears of tax including interest leviable thereon under various provisions of Income Tax Act, against them. All statutory and/or Regulatory permissions or guidelines from local or other competent authorities shall be obtained by the branch/borrower (as applicable). Advance / Facility sanctioned shall be used for the specific purpose for which it is sanctioned and not for any other purpose. End use of the funds/facility shall be ensured by the Branch. In terms of HO Circular No.HO/R&L/14/2001-02/355 dated 09.02.2002, an affidavit and 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. 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. The credit facilities sanctioned to the borrower should be availed within a period of six months of the date of sanction failing which the sanction shall lapse. Bank reserves the right to withdraw the sanction at any time in case any new facts etc come to light. It shall be ensured that all the papers obtained from the borrower / (in pre and post sanction phase) are duly signed by the authorized signatory.

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