LIVE Course on Transfer Property Law | Price Hike in 4 days | Grab it now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Namita   20 August 2017

Solvency certificate

I have taken a bail for the MM court in Mumbai after paying 25000/- as the bail amount. I have been asked to get a solvency certificate for 30000/- or above within a months time. I am from Bangalore and what i hear is they don't issue a solvency certificate against the property. I am still trying out to get the same but not sure which office issues the same.

1. I wanted to know how to get an extension in time so that I can get the solvency certificate.

2. if you could guide who can give me a solvency certificate in bangalore based on the property

3. Since I already have paid the 25000/- in the court, do I still need the solvency certiface to be produced. My lawyer is insisting on this. Wanted to check if this is really required.

 



Learning

 3 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     20 August 2017

Generally Solvency certificate is insisted by government/local/bodies to fulfill certain formalities to obtain work order/tenders etc and they will accept only solvency certificates issued by Bank but not from others. However, while issuing solvency certificates, bank may ask for CA certificate about investments, cash and bank balances of an individual or companies. 

 

SHIRISH PAWAR, 7738990900 (Advocate)     21 August 2017

bank may issue solvency certificate on your bank deposit

Namita   21 August 2017

I was told that for bail it has to be against property and would be issued by tahsildar office. And bank solvency will not be applicable for bail as conveyed by my lawyer to me. The case is in Mumbai. Can you please clarify if only solvency against property is applicable in this case or bank solvency is also applicable?

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading
Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query