CORPORATION BANK

Retail Loan Centre - Bhopal

CREDIT SANCTION INTIMATION
To

Name & Address of the Borrower(s)

The Branch Manager

1)Mr.DINESH PURI GOSWAMI S/O NARENDRA PURI
GOSWAMI
2)Mrs.SUMITRA GOSWAMI W/O DINESH PURI
GOSWAMI
MAIHAR

HOUSE NO. MIG-75

ANNAPURNA COMPLEX IN FRONT OF TRIPATHI

MEDICAL STO

HOUSING BOARD COLONY,

SARLA NAGAR ROAD, MAIHAR

MAIHAR-485771

SATNA-485771

MP

MADHYA PRADESH
Dear Sir,
Sub: Sanction of CORP HOME- Instruction to the Branch
As recommended by you,we are pleased to sanction/renew credit facilities subject to the general and special terms
and conditions as set out in Annexure/s Limit/facilities sanctioned are also Subject to all general instruction advised
from time to time.the sanctioned facilities will lapse if not availed within a period of 3 months. If the credit facilities are
to be released after 3 months,please note to obtain revalidation of the sanction.
Mail the second and third copies to the Borrower(s) duly signed.Please note to obtain back the third copy duly signed
by theborrower(s) at the relevant space in token of having accepted theterms and conditions. File this copy in the
party's file and keep thethird copy along with the documents.
Enclosure(s):

Sanctioning Authority

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CORPORATION BANK
Retail Loan Centre - Bhopal
Retail Loan Centre - Bhopal
CREDIT SANCTION INTIMATION
Name & Address of the Borrower(s)
The Branch Manager
1)Mr.DINESH PURI GOSWAMI S/O NARENDRA PURI
GOSWAMI
2)Mrs.SUMITRA GOSWAMI W/O DINESH PURI
GOSWAMI
MAIHAR

HOUSE NO. MIG-75

ANNAPURNA COMPLEX IN FRONT OF TRIPATHI

MEDICAL STO

HOUSING BOARD COLONY

SARLA NAGAR ROAD, MAIHAR

SATNA-485771

MAIHAR-485771

MADHYA PRADESH

MP

Dear Sir,
Sub: Sanction of CORP HOME
With reference to the above, we are pleased to communicate sanction/revision of credit facilities subject to the
general and thespecial terms and conditions set out in Annexure(s).
It is to be clearly understood that these facilities are sanctioned subject to the convenience of the Bank and may be
cancelled at any time without prior notice before making available the sanctioned facilities.The Bank may revoke in
part or in full or withdraw/stop financial assistance at any stage, without any notice or giving any reasons or any
purpose whatsoever.
We require your acknowledgement for having received Credit SanctionIntimation and confirmation that the terms and
conditions as communicated herein for various credit facilities are acceptable to you. This intimation is therefore sent
to you in duplicate. You are requested to return one copy duly signed at the relevant space in token of having
accepted these terms. On receipt of the copy of Credit Sanction Intimation duly signed by you and your executing the
prescribed security documents along with the Guarantor(s) we will arrange to release the facility/ies.
Enclosure(s):

Sanctioning Authority

I/We acknowledge the receipt of Credit Sanction Intimation.

I/We hereby confirm that the terms and conditions are acceptable to me/us
Date:

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Signature of the Borrower/s

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TERMS OF SANCTION
Review/Renewal Due on

09/06/2017

Sanctioning Department

Retail Loan Centre - Bhopal

CORPORATION BANK, R-11, HARDEV COMPLEX,
ZONE-II, MP NAGAR,
Bhopal-462011
MADHYA PRADESH

Branch Reference

CB2930/2016/0041

Sanction Reference

RLC/BHO/CHOME/064/2016-17 FILE NO 2932

Sanction Date

10/06/2016

Sanction Code

1415P14419O9096505064

Terms of Sanction

As per Annexure(s)

Nature and extent of

facility

CORP HOME-CONSTRUCTION OF HOUSE/FLAT IN PRE-OWNED LAND

Loan Amount Rs.1000000.00 (Ten Lakhs only)

Rate of Interest

9.65 % (p.a.) Floating(Interest rate charged is on a floating rate basis,linked to the

MCLR Rate and subject to revision from time to time based on the revision in the MCLR
Rate.Interest is calculated on daily reducing balance on monthly rest and debited to
the account on every month)

Repayment

To be repaid in 132 Months in 132 Monthly Installments of Rs.12323.00

Guarantor
Purpose

TO CONSTRUCT A HOUSE AT FIRST FLOOR (753.20 SQ.FT.) ON EXISTING

HOUSE AT GROUND FLOOR (694.55 SQ.FT.) BEARING SURVEY NO./MIG 75
(1452.60 SQ.FT.) SITUATED AT MAUZA/TOWN-SHARDAPURI COLONY, MAIHAR
WARD NO.01, TEHSIL MAIHAR, DISTRICT SATNA, MAIHAR, AT AN ESTIMATED
COST OF Rs. 12.07 LAKHS.

Security
1) Primary Security
Equitable mortgage of Premises.MIG 75 bearing Survey No. located at ,MAUZA/TOWN-SHARDAPURI COLONY,
MAIHAR WARD NO.01, TEHSIL MAIHAR, DISTRICT SATNA,MAIHAR,MP,485771
Equitable mortgage of House/Flat No. SURVEY NO./MIG 75 WTIH LAND MEASURING 1452.60 SQ.FT. AND
EXISTING HOUSE AT GROUND FLOOR (694.55 SQ.FT.) AND HOUSE PROPOSED TO BE CONSTRUCTED
THERE ON AT FIRST FLOOR (753.20 SQ.FT.) SITUATED AT MAUZA/TOWN-SHARDAPURI COLONY, MAIHAR
WARD NO.01, TEHSIL MAIHAR, DISTRICT SATNA, MAIHAR, STANDING IN THE NAME OF DINESH PURI
GOSWAMI S/O NARENDRA PURI GOSWAMI.

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Cost of the Project

Own Funds

1207000.00

Margin brought by the applicant

207000.00

17.15 % [Actual]

TERMS AND CONDITIONS

1

Before release of the loan, the Branch shall get the legal opinion approved by the Competent Authority wherever
Applicable.

Creation of Equitable Mortgage should be perfect as per legal opinion. All original documents, other additional
relevant documents as referred to by the Advocate should be obtained before release of the loan (Please go
through the legal opinion) and get the originals verified by Advocate.

All borrowal accounts, both fund based and non-fund based, of the limit of Rs.50.00 lakh and above shall be
subjected to Pre-disbursement Legal Audit.Pre-disbursement Legal Audit shall be conducted by the empanelled
advocates of the Bank. In specific cases, where required, Legal Audit shall be conducted by the Law Officers of
the Bank. Branches should ensure that irregularities, if any, pointed out in the Legal Audit Report are rectified
before disbursement of loan. (H.O.Circular No.23/2015 dated 07.01.2015)

In case of finance of flat/apartment under construction, the branch should obtain a supplementary EMG deed,
on completion of the flat/apartment alongwith the following documents/receipts:
i) Completion certificate issued by the local authority and possession certificate issued by the builder
ii) Share certificate after the society is formed
iii) Money paid receipts subsequent to initial EMG creation
iv) Lien noting letter from the society/builder as the case may be.

Building should be comprehensively insured against all risks for full value with bank's clause.

Before release of the loan, Branch official should visit the place of building and confirm himself that the value of
the landed property and cost of construction is reasonable, considering the prevailing market condition.

The Branch should disburse the loan in stages based on the Engineer's certificate. The Branch should release
the amount after collecting the margin amount.

Branch should make the payment directly to the seller of the flat and obtain all original documents and title
deeds of the property. The branch should release the amount after collecting the margin amount directly to the
seller of the flat. The branch to ensure that, there are no other charge over the mortgaged property while making
the payment.

Proper bills/voucher's/documents/stamped receipt should be held on record.

10 Any escalation in the cost of the project should be met by the applicant only.
11 Upto date NIL E.C./Approved Plan/Permission to construct the flat/house should be obtained before
disbursement of the loan.
12 Branch should satisfy that, the construction of flat/house is complete in all respects before release of the final
payment.
13 Processing charges/Legal charges/Valuation charges at the prescribed rates as per the Bank's procedure and
also all other incidental charges connected with the sanction/release of the loan should be collected from the
applicants.
14 The branch should ensure that, the stipulated margin requirements are complied with and necessary
documentary proof for having brought in the requisite margin should be held on records. The applicants should
bring in funds from their own sources towards margin, cost of escalation, additions etc.,
15 All the necessary statutory, legal and civic formalities required for construction of the residential house should
have been duly complied with including the required approvals, permissions, No Objectiion etc., from the various

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competent statutory/legal/civic authorities concerned.

16 If the house is rented out, the entire rental income even if it is more than the prescribed instalments, should be
adjusted towards the repayment of the loan. N O C shall be obtained from the bank before the flat/house is let
out or leased.
17 All payments including margin money paid either by the Bank or by the buyer to the Engineer/builder should be
made by the Account Payee Cheque/Draft/Pay Order and receipt obtained from the Engineer/Builder should
held by the bank. Cash payments are not be take cognizance of.
18 All terms & conditions and scheme guidelines as applicable to the CORP HOME LOAN complied with.
19 The Branch to ensure the end use of the loan.
20 The Branch to confirm the authenticity of the documents/testimonials submitted by the applicant by verifying the
same with the originals.
21 The Branch should obtaining e-Mandate forms duly filled from the applicant and the same registered at the
respective Bank/Branch to receive EMIs.
22 Before release of the loan, Tripartite Agreement between the Applicant, Builder and the Bank shall be executed
in Bank's approved format.
23 The Branch Head should submit a certificate regarding compliance of all the terms and conditions of our
sanction letter in terms of H.O. guidelines.
24 The borrower and guarantor shall furnish an undertaking to the effect that no consideration whether it be by way
of commission, brokerage, fees or in any other form will be paid by the former or received by the later directly or
indirectly in connection with the guarantee furnished to the bank.
25 On completion of the construction of the building, the branch shall obtain valuation report on the property. Also
the branch shall obtain Chartered Accountant certificate certifying the amount spent on the building and sources
for meeting the same. A copy of the said report shall be sent to us for our records.
26 The branch shall ensure obtention of letter from applicant, stating that he is willing to start the repayment on
completion of the Repayment Holiday even when the construction is not complete.
27 In the case of purchase of flat under construction, the branch shall ensure that the builder/owner of the land has
not availed any loan from bank/financial institutions by mortgaging the land in which the flat is being constructed
OR
Where the builder/land owner of the flat under construction has raised loan from bank/financial institutions by
mortgaging the land in which the flats are being constructed, the branch shall ensure to obtain "No Objection"
from their relevant bank/financial institutions for the buyer [borrower] to have exclusive charge over the
undivided portion of the land pertaining to the flat and the flat proposed to be purchased.
28 If the borrower (s) does not meet the repayment commitment of the loan as per schedule, his loan account will
go in arrears and this may affect his credit rating. In the event of default in loan repayment, the Bank is entitled
to recall the loan.
29 Building (excluding land) offered as security should be comprehensively insured at the cost of the borrower
against all risks under Reinstate Value Method with Bank's clause.
30 Branches are advised to follow and comply with Cir. No. 160/2015 - Nuances of Credit Monitoring dated
02.03.2015
31 The Builder/Developer/Company would disclose in the Pamphlets/Brochures etc., the name(s) of the bank(s) to
which the property is mortgaged.
ii. The builder/developer/company would append the information relating to mortgage while publishing
advertisement of a particular scheme in newspaper/ magazines etc.

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iii. The builder/developer/company would indicate in their Pamphlets/Brochures, that they would provide No
Objection Certificate (NOC)/ permission of the mortgagee bank for sale of flats/ property, if required.
32 1.Rate of Interest is under floating rate and is linked to the MCLR of the Bank and subject to change from time to
time.
2.Interest will be calculated on daily reducing balance on monthly rest and will be debited to the loan account at
the end of the month.
3.Revision in rate of interest will be communicated by ordinary post or SMS to the address/Mobile number last
given to the Bank. You are advised to inform the Branch any change in address, Mobile phone number so as to
enable the Branch to update the records.
Non receipt of communication due to non-updation of address/Mobile number cannot be construed as noncommunication.
4.MCLR of the Bank will be displayed in the Branch Notice Board. The information will also be posted on the
Bank website - www.corpbank.co.in
5.With the revision in rate of interest, the EMI for the loan gets changed.
6.Borrowers shall contact the Branch for revision in EMI, consequent to the revision in rate of interest from time
to time.
7.Borrowers may also seek information in respect of rate of interest charged to their loan account, EMI and other
information, if any, at any time or at the time of obtaining provisional interest certificate, loan statement etc..
8.If borrower fails to repay the EMI on or before the due date, overdue interest at 2% above the normal rate of
interest shall be charged.
33 As per HO Circular no.236/2014 dated 27/03/2014, fixing of EMI will be as follows:
a] Applicable in case of loans where the repayment tenor is 5 years & above and initial repayment holiday period
[IRH] is not given:
EMI stipulated shall remain the same for a period of 3 years irrespective of revision in rate of interest during this
period. Thereafter, every time on completion of 3 years, EMI shall be revised based on the balance outstanding
in the loan account, excluding overdues, if any, the balance of repayment tenor and interest rate being charged
to the loan at the time of revision of EMI,which will hold good for the next 3 years. The revised EMI will be
communicated to the borrowers, without fail?
OR
b] Applicable in case of loans where the repayment tenor is 5 years & above and initial repayment holiday period
is given:
EMI stipulated at the time of sanction will be revised at the beginning of repayment period based on whether
interest is serviced during the initial repayment holiday period or not, amount of loan availed etc., and such EMI
shall remain the same for a period of next 3 years irrespective of revision in rate of interest during that period.
Thereafter, every time on completion of 3 years, emi will be revised based on the balance outstanding in the
loan account, excluding overdues, if any, the balance of repayment tenor and interest rate being charged to the
loan at the time of revision of EMI, which will hold good for the next 3 years. The revised EMI will be
communicated to the borrowers, without fail.
34 Before release of the loan, Branch to ensure that the Credit Card Dues [outstanding / overdue ] as shown in the
CIBIL report are cleared.
35 Branch to refer to Cir. No. 122/2016 dated 20.02.2016 for processing and other charges.

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36 In case, the account turns irregular due to any reasons including belated servicing of interest and repayment of
installment, balance exceeding arrangement/drawing power etc., that shall affect credit rating of the account, the
account becomes overdue by not servicing of interest and or installment, misapplication of funds, dispute
amongst promoters, depletion of drawing power / security, frequent return of cheques the loan is liable to be
recalled and for any other reason bank is of the opinion that it is in the interest of recovery to recall the advance.
37 MCLR shall be renewed as on 1st of every month and shall be applicable to all the loans where first
disbursement takes place on or after such review date.
Further revised MCLR shall also be applicable to all loan accounts where reset date falls due during the month

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GENERAL TERMS AND CONDITIONS:

1

The Applicant should not have any statutory dues.

The credit limits sanctioned shall be made available to the applicant after the bank secures / the applicant
furnishes as the case may be:
(a). Satisfactory confidential opinion / credit report from the concerned bankers of the applicant or the applicant's
associate concern.
(b). A declaration from the applicant that :
if he is an individual / proprietor that he is not a specified near relation of any senior officer of the financing Bank
(OR) a declaration from the applicant furnishing the details of therelationship, if any of the applicant to any
senior officer of thefinancing bank.
NOTE: If the declaration made by the borrower with reference to the above, is found to be false, then the Bank
will be entitled to revoke and / or recall the credit limits sanctioned The applicant shall comply with all the
requisite statutory formalities required for ensuring effective, valid and legal charge on the various securities
stipulated and execute all the necessary documents in favour of the bank or other authorities as may
bespecified by the Bank therefor.
(c). Copies of the latest wealth/income tax assessment orders of the applicant / partners of the applicant's firm
directors of the applicant company and guarantor(s) if applicable.

The applicant shall comply with all the requisite Statutory formalities required for ensuring effective, valid and
legal charge on the various securities stipulated and execute all the necessary documents in favour of the Bank
or other authorities as may be specified by the Bank therefore.

The borrower shall keep the Bank informed of the legal action, if any, instituted against the applicant/coapplicant once in a year during the currency of the credit facility.

The borrower is prohibited from using the loan amount or any part thereof for any purpose other than for which it
has been sanctioned and if the Bank apprehends or it has reasons to believe that the borrower has violated or is
violating this condiction, the Bank has a right to recall the loan amount or any part thereof at once not
withstanding any thing contrary to the above or any other agreement

The Bank may revoke in part or in full or withdraw, stopfinancial assistance at any stage without any notice, or
giving anyreasons for any purpose whatsoever
The sanction(s) accorded by the Bank does not vest in any one's right to claim any damages against the Bank
for and reasons whatsoever

A letter of consent as per the format approved by the Legal Services Division, Head Office, shall be furnished by
the borrower to disclose the information/data relating to credit facilities availed.(as per annexure I of HO Circular
346/2002 dated 29.10.2002).Simiarly the letter of consent to be obtained for disclosure of information/data by
the Bank to Credit Information Bureau of India Ltd., and any other agencies, relating to credit facilities
availed,obligations assumed and default if any,(by Guarantor), committed in discharge thereof (as per Annexure
II of HO circular 346/2002 dated 29.10.2002).

The branch shall obtain details of legal heirs of the applicant/s and Guarantor(s) (H O Circular No.56/2002 dated
16.02.2002).

The sanctioned limit/s will lapse if not availed within three months from the date of sanction.

10 All existing loans / limits (if any) of the applicant /co-applicant / guarantor should be regular at the time of
disbursement.
11 An undertaking letter to the effect that the:
the borrower is not a Chairman / Managing director / other directors of any bank, including scheduled co-

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operative banks, director/s of subsidiaries/trustees of mutual funds/ venture capital funds set up by the Banks.
12 Branch shall hold e-mail address of the applicant and co-applicant in their records.
13 If the borrower(s) does not meet the repayment commitment of the loan as per schedule, his loan account will
go in arrears and this may effect his credit rating. In the event of default in loanrepayment, the Bank is entitled to
recall the loan.
Other Special Terms
1

Before disbursement of loan, branch shall ensure that the original title deeds (including link deeds) of the
property proposed to be mortgaged are verified by the panel advocate and is free from all encumbrances and is
properly identifiable and shall obtain all documents and comply with all conditions as mentioned by our panel
advocate in his legal opinion report.

Branch shall ensure to follow all guidelines related to financing of housing loans as per housing loan manual and
related circulars issued by Head Office from time to time.

Before disbursement of loan, branch shall ensure that all other accounts of the party with other banks are
regular.

Branch has to verify the loan documents furnished by the retail hub and ensure that the required documents are
applicable to the facility sanctioned and also ensure that all the particulars are properly incorporated in the
documents and make necessary corrections wherever required before execution of the same.

Branch shall ensure to obtain certificate from the advocate that he has verified the records of all the original title
deeds in Sub Registrar?s office and same are genuine as per HO Cir no. 705/2013 dated 28.11.2013.

As per HO Cir no. 429/2013 dated 29.07.2013 branch shall create registration of charges/EMG with CERSAI
within 30 days from the date of creation of charge/mortgage and recover the fees from the borrowers and
ensure that there is no seepage of income.

Branch shall obtain PDCs /e-mandate facility as per H.O Cir.869/2014 dated 08.12.2014 from the applicants?
bank.

After Completion of construction of house, Building shall be insured for full value against all risks at the cost of
borrower with banks clause.

Branch shall ensure that the loan is disbursed in stages along with required margin against production of
demand letter, photos/images of stage of construction, post sanction site visit, borrowers request, branch official
report and civil engineer certificate.

10 Branch shall ensure that the property proposed to be mortgage is constructed as per approved plan from the
competent authority.
11 The Branch shall ensure to open a saving account in the name of applicant before disbursement of the loan.
12 Branch shall ensure to waive the processing charges as the loan is sanctioned under Monsoon Offer mo-2016
as per circular 325/2016 dated 26.05.2016.
13 Loan is sanctioned under Monsoon Offer-2016 introduced for a period of 4 months from 01.6.2016 to
30.09.2016 as per HO Circular No. 325/2016 dated 26.05.2016.
"CERTIFICATE OF COMPLIANCE OF SANCTIONED TERMS SHOULD BE SUBMITTED TO THIS OFFICE
WITHIN SEVEN DAYS FROM THE DATE OFDISBURSEMENT OF THE LIMIT"

SANCTIONING AUTHORITY

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