About the Book:  

The Reserve Bank of India has mandated all Scheduled Commercial Banks and Primary Urban Co-operative Banks to obtain a Diligence Report from a professional (preferably a Company Secretary) on a half yearly basis regarding compliance with all statutory and contractual obligations in respect of companies availing multiple banking / consortium lending arrangements.  

A High Level Core Group comprising senior bankers, representatives of the IBA, FEDAI formulated this Guidance Note on Diligence Report for banks. The Guidance Note contains detailed compliance inputs and checklists on all twenty five paragraphs prescribed by the RBI covering many critical and relevant matters such as details of the Board of Directors, shareholding pattern, details of the forex exposure and overseas borrowings, risk mitigation through insurance cover in respect of all assets, payment of all statutory dues and other compliances, proper utilizations / end-use of the loan funds, compliance with mandatory Accounting Standards, compliance with various clauses of the Listing Agreement in case of listed company, etc. The compact structure of the Diligence Report makes it obligatory for a Practicing Company Secretary to prepare the Report after critical examination of all relevant records and documents of the borrowing companies which demands a high degree of care, skill and knowledge. 

Shri T S Narayanasami, Chairman, Indian Banks’ Association while releasing the Guidance Note stated that this Guidance Note shall be a ready referencer for professionals taking up the assignment of Diligence Reporting for Banks, the Banks as well as the Corporates.  


Price: Rs. 499/-