RBI Tightens Info Sharing Rules for Consortium/Multiple Banking

DILIGENCE REPORT To, The Manager, ___________________ (Name of the Bank) I/We have examined the registers, records, books and papers of ____________ Limited (the Company) as required to be maintained under the Companies Act, 1956 (the Act) and the rules made thereunder , the provisions of various statutes, wherever applicable, the provisions contained in the Memorandum and Articles of Association of the Company as well as the provisions contained in the Listing Agreement/s, if any, entered into by the Company with the recognized stock exchange/s, as may be applicable for the half year ended on ____________ . In my/our opinion and to the best of my/our information and according to the examination carried out by me/us and explanations furnished to me/us by the Company, its officers and agents. I/We report that in respect of the aforesaid period: the management of the Company is carried out by the Board of Directors comprising the following persons : During the period under review the following changes took place : the shareholding pattern of the company is as under : During the period under review the following changes took place : the company has altered the following provisions of (i) the Memorandum of Association during the period under review and has complied with the provisions of the Act. (ii) the following Articles of Association during the period under review and has complied with the provisions of the Act. the company has during the period under review, entered into the following transactions with business entities in which directors are interested. the company has during the period under review, advanced loans, given guarantees and provided securities amounting to Rs. ____________ to its directors and/or persons or firms or companies in which directors are interested. the Company has during the period under review, made loans and investments; or given guarantees or provided securities to other business entities as under: the amount borrowed by the Company from directors, members, public, financial institutions, banks and others during the period under review is/are within the borrowing limits of the Company. The break up of the company's borrowings are as under: the Company has during the period under review, not defaulted in the repayment of any public deposits or unsecured loans and the Company or its Directors are not under the Defaulter's list of Reserve Bank of India or in the Specific Approval List of ECGC. the Company has during the period under review, created, modified or satisfied charges on the assets of the company as under: the Forex exposure and Overseas Borrowings of the company are as under' the Company has issued, offered and allotted all the securities to the persons entitled thereto and has also issued letters, coupons, warrants and certificates thereof to the concerned persons and also redeemed its preference shares/debentures and bought back its shares (wherever applicable) in compliance with the specified procedures and within the stipulated time. the Company has insured all its secured assets. the Company has complied with the terms and conditions, set forth by the lending institution at the time of availing the facility and also during the currency of the loan and has utilized the funds for the purposes for which these were borrowed. the Company has declared and paid dividends to its shareholders as per the provisions of the Companies Act, 1956. the Company has insured fully all its assets. the Company / Directors are not in the willful defaulters' list of RBI. the Company / Directors are not in the Specific Approval List of ECGC. the Company has paid all its Statutory dues and that there are no arrears. the Company has complied with the terms and conditions, set forth by the lending institution at the time of availing any facility and also during the currency of the loan. the Company has used the funds for the purpose for which it borrowed. the Company has declared and paid dividends to its shareholders, as per the provisions of the Companies Act. the Company has complied with the provisions stipulated in Section 372 A of the Companies Act in respect of its Inter Corporate loans and Investments. the Company has complied with the applicable and mandatory Accounting Standards issued by the Institute of Chartered Accountants of India. the Company has credited and paid to the Investor Education and Protection Fund all the unpaid dividends and other amounts required to be so credited. a list of prosecutions initiated against or show cause notices received by the Company for alleged offences under the Act and also the fines and penalties or any other punishment imposed on the Company in such cases is attached. the Company has complied with the various clauses of the Listing Agreement, if applicable. the Company has deposited both Employees' and Employer's contribution to Provident Fund with the prescribed authorities. Note :  The qualification, reservation or adverse remarks, if any, may be stated at the relevant place(s). Place: Date:    Signature:                &nb sp;                Name of Company Secretary: C.P. No.:

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-2009/183 · issued 19 Sep 2008. The plain-English explanation above is BankPulse’s own independent summary.

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