Cma report
Khushboo Nahata (19 Points)
24 January 2017Khushboo Nahata (19 Points)
24 January 2017
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 24 January 2017
CMA data is Credit Monitoring Arrangement data. It is the report to be presented to bank to show your past financial history, current financial position and future financial planning...
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 24 January 2017
There are different business types and according to their business nature and size, cma report is prepared. It is not similar for all businesses. Similarly, CMA report is prepared as per nature of borrowed fund. The data is different for working capital loan or for CC or for CMA data for bank guarantee.
By submitting CMA data report with right ratios and proper presentation of usage of funds, your chances of getting loan has been increased. Provided you follow other procedures and requirements of banks.
Khushboo Nahata
(19 Points)
Replied 24 January 2017
thnk... my client is having a embroidery machine and for that he wants a import a machine costing INR 13L .
Khushboo Nahata
(19 Points)
Replied 24 January 2017
And what are the appropiate ratios to be required for the above.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 24 January 2017
it is generally for enhancement of your already existing credit facilities
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 24 January 2017
its Cash Credit Limit or Term Loan ???
Khushboo Nahata
(19 Points)
Replied 24 January 2017
and also what the procedures and requirements of the bank
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 24 January 2017
you have to create a charge on fixed assets and file the same in MCA Portal give a copy of same to bank viz CHG-1 and other papers like demand Promissiory note has to be executed board resolution is needed ASEPERATE NO LIEN ACCOUNT IS TO BE OPENED
CA Shree Jain
(Chartered Accountant)
(1572 Points)
Replied 24 January 2017
FOLLOWING DOCUMENTS ARE REQUIRED FOR TERM LOAN
1) Audited Financial Statement of last 3 years alongwith Income Tax Return Acknowledgement.
2) Provisional Balance Sheet for the current year.
3) Projection of Sales , Purchase, Stock & Raw Material Consumption for the next year.
4) Quotation of Machinery to be purchased.
5) Installed Capacity, Licensed Capacity - existing & proposed, Envisaged Capacity Utilisation.
6) Details of Raw Material requirement, calculation, how desired ?Source of supply and supply position. Cost of ram material supported by current quotation.
7) Catalogue / Brochure of Machine.
8) Maintenance arrangement & costs thereof.
9) Project implement schedule.
10) Cost already incurred.
11) Sources of such expenditure.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India