Documents 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
- A copy of plan of buildings approved by the Industries Department/RIICO/Local
- 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.