SOJAN JAMES 1
Advocate,
752, KHCAC Complex
Near High Court of Kerala,
ERNAKULAM.
Mobile 98470 83990
e. mail:adv.sojanjames@gmail.com
Date:20.11.2023
To,
The Senior Manager
Bank of Baroda
M.G Road Branch.
Ernakulam.
Re:- Vetting of Loan documents dated 18.06.2023
Name of Account: Mrs. Syamalakshmi & Sanjea P.S
Dear Sir/ Madam,
As desired, the under signed visited your branch on 19.10.2023 for Vetting of Loan
documents executed by the Borrowers in terms of Sanction letter No. 06/5151 issued to the
Borrower. The details of sanction facility for which the documents have been pursued are as
under.
Nature and amount of facility/ies:
Sl.No Type of facility /limit sublimit / Sanctioned Limits Rate of Interest
1 Baroda Home Loan(Top Up) Rs.58,40,000/- 7.25%per annum
Constitution of the Borrowers : Individual
Details of security as per sanction :
(A) Primary security
1. Equitable Mortgage : Yes
Equitable Mortgage of property in 3.24 Cents in Ezhikara Village in
Re.Sy no 66.7.2 North Paravur Taluk covering Sub Building No 5198/08
of North Paravur SRO
Hypothecation-NA
2. Personal Guarantee: NA
3. Any other Primary securities: NA
(B) Collateral Securities:
1. Mortgage : Property
2. Any other Collateral securities : NA
List of Documents perused:
Sl No. Name and description Documents perused Observation of the advocate
if any
1 Letter of confirmation 90[D] dated 21.06.2021 Executed in Order
2 Sanction letter dated 03.03.2021 Executed in Order
3 Attendance sheet dated 18.06.2021 Executed in Order
4 Declaration of 90[CA] DATED 18.06.2021 Executed in Order
5 Attestation memo dated 03.03.2021 Executed in Order
6 Loan Agreement dated 03.03.2021 Executed in Order
7 Declaration - cum - undertaking cum Authority dated Executed in Order
03.03.2021
8 Letter of instalment with acceleration clause dated Executed in Order
03.03.2021
9 Memorandum of Entry dated 18.06.2021 Executed in Order
10 Undertaking to creat Mortgage dated 03.03.2021 Executed in Order
11 Letter of confirmation of Mortgage dated 03.03.2021 Executed in Order
12 PDC dated 03.03.2021 Executed in Order
13 Undertaking to Construct dated 03.03.2021 Executed in Order
On Perusal of above documents, I further observe/ opine as under:
1. Whether the Branch is holding unconditional acceptance of Borrowers & Guarantors,
if any, on copy of Sanction Letter issued to the Borrower. The details of sanction
facility for which the documents addressed to the Borrowers: YES
2. Whether the Legal Search Report of the Advocate related to the mortgaged property
based upon the Original or Photocopies of Title deeds/Chain Documents: Originals
(In case LSR was based upon photocopies, then branch should get the Original
Titles Deeds perused by the Advocate (who gave title search Report) and his
Certificate to the effect that Title deed/s is/are genuine, duly stamped, properly
executed and registered with Sub Registrar Office):
3. Whether complete description of property/ies has been mentioned and all the Title
Deeds/Chain documents etc. have been obtained by the branch as per the Report of
the Advocate (LSR), while tracing chain of Title Deeds & Whether the mortgage is in
order: Yes
(In case, some Title deed/Chain Document is /are missing, same should be
specifically pointed by the Vetting advocate).
4. Whether the mortgage has obtained permission u/s 281(i) (ii) of Income Tax
Act/certificate auditors from Borrowers Company/Firm regarding NO pending
statutory Dues (CA certificate in case of individuals/joint Borrowers before creating
of mortgage: NA
5. Whether all the declaration with regard to Title of Property/ies, power of Attorney
w.r.t book debts etc. have been got Notarized (date of execution and notarization of
the same): YES
6. Whether as per LSR obtained by the Branch, the property is mutated in the name of
the Mortgagor in the relevant records or not: Yes
7. In case of Corporate Guarantee /mortgage whether MOA/AOA of the Guarantor has
been perused by the advocate and the same permits the company to give such third-
party guarantee/mortgage: Yes/No (In case MOA does not permit for giving corporate
suggestions to be made for change of MOA for corporate guarantee): NO
8. In case of corporate Borrowers whether execution of security documents and creation
of mortgage is in terms of Board Resolution and Whether Board Resolution is in
terms of Articles of Association of the company : NA
9. Certified copy of the general body resolution u/ss.291 (1) (a) and 291 (1) (d) of the
companies act, 1965 whenever applicable are kept on record: NA
10. Whether the branch has obtained the complete details of Legal heirs of the Borrows &
Guarantor as well as details of assets/properties in the name of the
Borrowers/Guarantor in Form No.135/LDOC 33: YES
11. In case hypothecation of Plant and Machinery, whether the list of hypothecated plant
& machinery is attached with Hypothecation Deed: NA
12. Any other observation/pending rectification in the Term Loan Documents/steps to be
taken by the branch (including lien nothing in the revenue records/Lessor’s
records/registration of charge with ROC etc. with regard to the mortgaged property
Please Specify: Nil
Subject to above observation, the documents as obtained by the branch are duly stamped,
properly executed and are in order and enforceable.
Sojan James
Advocate
