The Manager/Officer in addition to the other formalities should see that the borrowing institution has produced permission from the Charity commissioner to avail the credit facilities from our bank and to mortgage pledge hypothecate the security. He should also see that the branch has obtained a proper resolution from the borrowing institution for raising loan from our bank and the office bearers have authority for execution of documents. In case, the office bearers have signed the documents in personal capacity, he should ascertain that the branch has on its record the confidential reports on them.
He should also examine the relevant clause of the trust deed regarding borrowing powers/authorizing the office bearers to raise funds against mortgage/pledge/hypothecation of the property belonging to the institution etc.
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He should also examine the relevant clause of the trust deed regarding borrowing powers/authorizing the office bearers to raise funds against mortgage/pledge/hypothecation of the property belonging to the institution etc.
Note:All content is copyrighted to http://sm-information.blogspot.com and may not be reproduced on other websites.
If you have any question regarding this websites or any other post related you can Email us.
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