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Adarsh Rawani (N.a)     02 December 2015

How to prepare a search report required by bank

How to prepare a SEARCH REPORT required by bank before giving loan to a party. Please tell the procedure to collect the data & how to prepare the Search Report. If possible please attach some examples of Search Report. Please reply its urgent.

Regards.



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 1 Replies

G.L.N. Prasad (Retired employee.)     03 December 2015

If there is any such procedure required by Bank, Bank has to reduce the laid down procedure both in it's manual and as well as circular and such report is always prepared in the form of questionnaire.  If it is not provided, one can seek guidance from his next higher authority.  Generally Bank takes only formal verification of the assets and liabilities (individual)  declared by individual borrower and search report is undertaken either by Advocates in Registrar's office or Chartered Accountants with Registrar of companies.

This is bank's internal procedure and it is difficult to give a procedure by outsiders.


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