FINOVA CAPITAL PRIVATE LIMITED CREDIT POLICY FINOVA CAPITAL PRIVATE LIMITED 1 Registered Offce- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colony, ‘Amrapali Marg. Vaishali Nager. Jaipur-302021 Contact no, 0141-4118202 Email id: info@finovain Website ‘ www finova.inarena INDEX Sr.No. | Contents ~ ~ — Page No. | PREFACE 3 2. | TWPESOF PRODUCTS 38 3. | CASE LOGIN REQUIREMENT oo @,__ | PERSONAL DISCUSSION (PD)/ VISIT 9 3, | LOAN ELIGIBILITY 90 &.__| VALUATION OF THE PROPERTY 10 7 | EXTERNAL! OF THE PROPERTY) BUSINESS PLACE 101d |__| EXTERNAL PD OF THE PROPERTY/ BUSINESS PLACE it | 9 | LEGALREPORT/VETTING OFTHE PROPERTY PAPERS =a [10 | DOCUMENTATION — a} [an RESTRICTED INCOME/ PROFLES/ TITLE ET) 32,_| NEGATIVE PROFILE [os 33. | NEGATIVE AREA Fry 34, _| GUARANTOR 5 35. | GENERAL CONDITIONS| a r 36. | PD/APPROVAL MATRIX 15.17 7, | MODIFICATION OF POLICY ” ca FINOVA CAPITAL PRIVATE LIMITED 2 Registered Offce- 7th Floor, Piot No 13-14, Unique Aspire, Cosmo Colony, ‘Amrapali Marg, Vaishali Nagar, Jaipur-302021 Contact no, 0141-8118202 Email id info@finova in Website : ww finova.inerties 1. PREFACE 1 Finova Capital Private Limited is engaged in the business of providing MSME Loans and Home Loans to the customers. For company, itis necessary to have @ predefined credit norms end policy. The Policy is on credit norms and the same to be termed as Credit Policy. +. The Policy has been approved ay the management of company on 09" October 2019. The Company reserves to itself the right to alter/delete/add to these codes at any time without prior individual notice and such alterations /deletion/addition shall be binding ang will be valid tll further communication, the ezrlier credit policy will be superseded by this policy 2. TYPES OF PRODUCTS 2.1 MSME Loans 2.2 MSME Loans—FTL 2.3 Homeloan 2.4 Top Up Loan (Existing Customer) 2.5. Balance Transfer & Top Up (Extemal 8] GENERAL ELIGIBILITY NORMS Indian ettizen above 18 years. + Applicant /Co applicant /Guarentor age Maximum 60 years at the time of application or 70 at the time ofloan maturity is eligible for availing loan. Property awner age can be taken upto 75 years, however if property owner age crosses, 70 years age his/ner income will not be considered for eligibility purpose, + Individual, ether singly or jointly with other family members can avail the loan however they are to be added as ¢o- applicant. + All property owners to be part of the loan. f¥o minor can be a borrower. + No. of dependents not to exceed 6, if exceed then more than one individual to be an earning member. +All business enterprises irrespective of constitution (Proprietorship /Partnership /Companies /Trust / Association etc.) ‘and all individuals whether salaried, Self Employed Non Professionals (SENP) and Self Employed Professionals (SEP) ‘engaged in Business Activity /Salaried for minimum last two year. 2.1 MSME LOANS PURPOSE 1 Acquisition of factory, land and construction of building spaces. Purchase of plant and machinery including ‘ab equipment, testing equipment, etc. ‘Meeting working capital requirements, like raw materials, stock-in-progress, finished goods, ‘Temporary additional assistance for meeting the urgent needs of raw material ‘Additional monitory assistance for any eligible purpose QUANTUM OF LOAN Minimum Rs.2lacs Maximum Rs.25lacs LTV. Maximum 50% REPAYMENT: Repayment period of loan up 107 years, [RATE OF INTEREST AND PROCESSING CHARGES- A: per applicable rates decided time to time by the management. SECURITY. Equitable mortgage (E.M.)/ Registered Mortzage. GUARANTEE: Third party guaranzee Is required, relatives can be guarantor (who is not in deal) if he is having separate source of incame and residence DISBURSMENT- Post completion of sanction terms & conditions INSURANCE- General insurance anc Life Insurance of applicent/co-applicant is compulsory ta the tune of the value of the loan amount FINOVA CAPITAL PRIVATE LIMITED 3 Registered Otfice- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colory, Amrapali Marg, Vaishali Nagar, Jaipur-302021 Contact no 0141-4118202 Email id: info@finovain Website : www.finova.inGprivova carr PREPAYMENT PENALTY. In case of part or full & final prepayment charges would be 8% of outstanding principle plus applicable taxes Note- Any deviation in above parameters to be approved as per approval matrix. 2.2 MSME- ETL PURPOSE = Acquisition of factory, land and construction of building spaces. Purchase of plant and machinery including lab equipment, testing equipment, ets. Meeting working capital requirements, Ike raw materials, stock-In-progress, finished goods. Temporary additional assistance for meeting the urgent needs of raw material Additional monitory ascistance for any eligible purpose. QUANTUM OF LOAN = Minimum Rs.t1acs = Maximum Rs.3lecs LTV- Maximum 50% REPAYMENT: Repayment period upto 5 years RATE OF INTEREST AND PROCESSING CHARGES- As per applicable rates decided by the management. SECURITY- Ecuitable mortgage (E.M.)/ Registered Mortgage. PROPERTY TITLE ACCEPTABLE in FTL = Panchayat Patta, Society Pata, Govt. Authorized Properties (Built Up) (Mud House & Agriculture Registry cannot be taken as security.) GUARANTEE- Guarantor is not mandatory for cases upto 2.50lacs, however it is mandatory for cases above 2.50lacs. DISBURSMENT- Past completion of sanction terms & conditions INSURANCE- General insurance and Life insurance of applicant/co- applicants compulsory to the tune of the value of the oan amount (OTHER FEATURES IN FTL PD can be done prior to IMD clearance + Co-applicant banking shall be waived, if Credit Bureau Report score is -1, irespective of income considered or not PREPAYMENT PENALTY. In case of part or full & final prepayment charges would be 8% of outstanding principle plus applicable taxes. Note- Any deviation in above parameters to be approved as per approval matrix. 2.3 HOME LOAN PURPOSE = Purchase/ construction of house/ flat + Purchase of plot and construction of house thereon, '* Repairs/ improvements/ extension of the existing residential property. + Takeover of housing loan availed from another bank / F/NBFC/HFC QUANTUM OF LOAN- Minimum: Rs.tlacs, Maximum Rs.25 Lakh. LTV- Maximum LTV of 60%is to be maintained including the value of land. FINOVA CAPITAL PRIVATE LIMITED 4 Registered Offee- 7th Floor, Prot No 13-14, Unique Aspire, Cosmo Colony, Amrapali Marg, Vaishai Nagar, Jappur-302021 Contact no. 0141-4118202 Email id: info@finovain Website - www finova ineran RATE OF INTEREST AND PROCESSING CHARGES- As per applicable rates decided by the management REPAYMENT- Repayment period of up to 7 years SECURITY- Equitable mortgage (E.M.)/ Registered Mortgage GUARANTEE: Third party guarantee is required, relatives can be guarantor (who is not in deal) if he is having separate income source and residence. DISBURSEMENT- Aiter sanction & completing of all the terms & conditions cisbursement is to be done in a phased manner as per procedure laid down — 'A. FOR NEW CONSTRUCTION: i. 30% of sanction ameunt to start the work. ii, 40% of sanction amount at the time of laying of roof. CM/BM /above level to visit the site and submit their photograph with property and Credit to recommend for release of the payment. iii, 30% of sanction amount at the time of plaster, flooring and wood work etc. Before release of final payment spot verification Is required to be done by a valuer appointed by the company. On his valuation report with property photographs amount is to be released post Credit recommendation, “*On case to case basis ACM and above can approve release of payment in ciflerent percentage basis siage of completion. 'B. FOR PURCHASE OF READY BUILT PROPERTY. = Payment to the seller is to be made on day of registry through lawyer or concerned. BM/CM shall collect the registry receipt and registry document and submit. INSURANCE- General insurance anc Life insurance of applicant/co-applicant is compulsory to the tune of the value of the loan amount. PREPAYMENT PENALTY: In case of part or full & final prepayment charges would be 8% of outstanding principle plus applicable taxes. Any reduction/waiver to be approved by delegated authority as per approval matrix, Note- Any deviation in above parameters to be approved as per approval mats, 2.4 TOP UP LOAN (EXISTING CUSTOMER! Top Up can be given to our existing customers on ther request or for customer retention subject to other policy parameters. However minimum 18 months track with Finova is required with maximum 2 bouncing in last 18 months due tofinancial reason, maximum OPO can be considered up Lo 10 days. However there should be no bouncing in last 3months at the time of request for top-up. The detailed eligibility is as under: ELIGIBILITY FOR TOP UP [mons DETAIL | <1sMonths NA (aan <26i4 Marna 40% of orighal sanction amount: [2am [ Can be given more than 40% basis assessment. Note:-The eligibility wil calculete on pro rata basis, if existing loan tenure is less than 7 years. Any deviation to above is tobe approved by L6 and above ‘5. BALANCE TRANSFER AND TOP UP (EXTERNAL B Balance transfer denotes when a customer shifts his loan from another lender to us for better service/ROI /additional quantum of loan.2T and Top up can be done for loans running with other lenders. Al the conditions of MSME / FTL loan and Home loen as applicable to respective loan as per policy is to be complied, however following additional conditions to be fuifille. ADDITONAL CONDITION: ‘Specific reason for shifting to us is to be documented in the CAM. FINOVA CAPITAL PRIVATE LIMITED 5 Registered Offce- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colory, Amrapali Marg, Vaishai Nagar, Jaipur-302021 Contact no. 0141-4118202 Email id’ info@finovain Website : www. finova.iney array "= The approval for External 8T is to be done by 13 (ACM) and above. = The loan to be taken over should be have at least have 24 month seasoning, with no EMI has gone into 30DPD during the period. All the EMII should be cleared through ECS/ACH/Cash Receiots. The Bank statement for 24 ‘months from which EMI is deducted is to be checked and documented to ascertain the bouncing in addition to Credit Bureau report. In case repayment of EMI fully rerald on cash basis then approval for the same will be done by LS and above level .Al the cash receipts to be documented. The EMI offered by us shoulc not be more than 1.5x of EMI with existing lender subject to FOIR guidelines as per ‘our pclicy. = Before disbursement LOD (List of documents) and foreclosure letter /latest SOA reflecting lest due EMI served tobe held on record and to be checked by the BCM. ‘= There should not be any EMI outstanding at the time of sanction. ‘= The first payment should be as per foreclosure letter/ latest SOA reflecting last due EMI served = The original property papers to be received within the specified time line. These cases to be disbursed with NILOTC = Customer is 10 give authorization (0 us for BT as per letter attached, acknowledged Customer Authorization. letter is to be taken for BT and documented in file. = Takeover lettoris tobe given to Concerned Barks/NBFC/FI through BCM & above from whom we are taking over ‘and acknowledged copy to be documented in fle. = Bank Statement shall be verified by RCL. Note: - Any deviation to above guidelines may be approved by L6 & above basis merits of the case. 3. CASELOGIN REQUIREMENT. = Following to be ensure before login of the fle: | Property to be located within SO km of Finova Capital Put. Itd. existing branch network. © Applicant and the co-applicants should be living within radius of 50 km from the Finova Capital existing branch network or 2 if the epplicantis working outside geographical limits following conditions should be satisfied: ‘© Property in consideration should be within geo limits. © Applicant’s immediate family (which may include parents, spouse, or children) are staying within ‘geographical limits and should be taken as co applicant. © POC/ACH mandate is given fram bank account which has local clearing within geo limit. ‘|The Geo limit s to be identified through google mars fram branch to the customer/property location. = Any deviation for Geo limit is to be given by L6 and above authorty. IMD CHEQUE Login /IMD Cheque/DD/Cash is must for treating case as login. Preferably IMD should be through Cheque of the 2ccount, which a customer wants /stipulated to be the repayment account. A copy of the seme to be documented in the file. RECOMMENDATION MAIL = RO/BM visit on each case is mandstory and he should share his recommendation post visit for login along with Google ‘Map, Selfie with Property and customer. If the case is login is less than 7lacs then the BM recommendation is mandatory and if the case is for more than 7 lacs then the CLM and above recommendation 's mandatory before Login. . KYC DOCUMENTS = KYC does should be seen and verified with original (OSV) by Sales team, Further all the documents to be self-attested by applicant/co-applicant/guarantor to whom It Is related S.NO DOCUMENT | REQUIREMENT FOR SALARIED REQUIREMENT FOR SELF EMPLOYED 1 KYC Documents — | Any two of following: ‘Any two of following- Photo 1D / | 4. Driving license 1 Driving license Address/Age Proof | 2. voter's iD card 2 Voter's D card 3. Aachaar Card** 3 Aadhaar Card*™* 4. PAN Card 4 PAN Card 5. Passport 5 Passport FINOVA CAPITAL PRIVATE LIMITED 6 Registered Offce- 7th Floor. Plot No 13-14, Unique Aspire, Cosmo Colony, Amrapali Marg. Vaishali Nager. Jaipur-302021 Contact no. 0141-4118202 Email ld: info@finova in Website : waw.finova in6, Job Card issued by NREGA duly] 6 Job Card issued by NREGA duly signed | signed by an officer of the State by an officer of the state Govt. Govt. 7 letter issued by the National 7. Latter issued by the National Population Register containing details of name and eddress. Population Register containing details of name and adress. IN CASE OF NON-INDIVIDUAL BORROWER’S ADDITIONAL DOCUMENTS REQUIRED: There will be no relaxation in KYC as mentioned above; however single KYC (having ID and address) can be accepted of only for the applicant/co-applicant (whose income is not considered for eligibility purpose) with approval of L6. **Aachaat card must be taken with customer consent and Aadhar number shall be masked in all the copies taken in fle. where the KYC furnished by the customer does not have updated address, the following decuments shall be additionally tobe taken as a proof of updated address:- © Utility bill which is not more than two months old of any service provider (electricity, teleohone, post-paid mokile phone, piped gas, water bil); ©. Property or Municipal tax receipt; ‘© Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, i they contain the addre:s; © Letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sactor undertakings, scheduled commercial banks, financial institutions and listed companies and leave and license agreements with such employers allotting official accommodation, Companies | Name of the company ilCertificate of incorporation and Memorandum Principal place of business & Articles of Association Mailing address of the company 1) Resolution of the Board of Directors to sign Teleohone/Fax Number the documents and identification of those who have authority to operate the account ii) Power of Attorney granted to its managers, officers or employees to transact business on its behalf Iv) Copy of PAN allotment letter ¥) Copy of Utility bill foundations Partnershio | Legal name ()Regisiretion certificate, if registered (i) firms Address Partnership deed Names ofall partners and their addresses (ii) Power of Attorney granted to @ partner or ‘Telephone numbers of the firm and partners | 2n employee of the firm to transact business on its behalf (iv) Any officially valid docurnent identifying the | partners and the persons holding the Power of ‘Attorney and their addresses | (1) Telephone bil nthe name of frm/partners Trusts —__& | Names of trustees, settlors, beneficiaries and signatories | (i) Certificate of registration, if registered (ii) Names and addresses of | the founder, the ‘managers/directors and the beneficiaries, Telephone/fax numbers. Power of Attornay granted to transact business on its behalf (il) Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Aitorney, founders / managers / directors and their addresses (iv) Resolution of the managing body of the foundation/ association v)Teleohone bil Proprietorship Concerns Proof of the name, address and activity of the concem i) Registration certificate (in the case of a registered concern) i) Certifcate/ license issued by the Municipal authorities under Shop & Establishment Act, (IF available) ii) GsT returns (ff apolicable) FINOVA CAPITAL PRIVATE LI IMITED 7 Registered Office- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colony. Amrapali Marg. Vaishali Nagar, Jaipur-302021 Contact no. 0141-4118202 Email ld: info@finovaiin ‘Website : www-finova.iniv) License issued by the Registering authority like Certificate of Practice issued by Insitute of | chartered Accountants of india, inst tute of Cost Accountants of India, Institute of Company Secretaries of india, Indian Medical Counc! Food and Drug Contro} Authorities, registration J licensing docurnent issued in the name of the proprietary concern by the Central Government or State Government Authority/ Department, etc. Banks may also accept IEC (Importer Exporter Code| issued to the proprietory concer by the office of DGFT as an idemity document for opening of the bank account ete ¥) The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/ acknowledged by the | Income Tax Authorities. (f available) Wi) Utility bills cuch as electricity, water, and landiine telephone bils in the name of the proprietary concern. 2 Existence and | Utlity bile in case of residence &@ — Anyof below. Stability Proof should be older than 1 year Shop and establishment act ceruficate Sales tax registration VAT registration certificate PAN card Partnership deed MOA & Articles of association Current account Electricity Bill / Telephone bill Corporation license I fled for business a ‘Gifce/shop address | Not Applicable ‘Any of below- proof Utility bill (up to3 months old) Copy of registered lease / leave and license agreement whichis not expired along with the utility bill n the name of the landlord / ‘owner confirming acdress Certificate Issued by Municipal corporation / local self-government sedis confirming address 4 Latest available Income Tax Assessment order confirming address 5. Sales Tax/GST registration certificate confirming address 6. Valid Shops and Establishment Certificate confirming adaress 7. Factory registration certificate confirming address This is not required in HL eases 1 2 “IF none of the above is available then CM to verify & document 2 neighbor check, 2 supplier/vendor checks with contact no's INSTRUCTIONS FOR COMPLIANCE WITH KYC DOCUMENTATION REQUIREMENT: = The passport & driving license should be current ie. the same should not be expired, LIST OF VALID SUPPORTING KYC DOCUMENTS WHEREIN OVDS ARE AVAILABLE IN SINGLE NAME: FINOVA CAPITAL PRIVATE LIMITED 8 Registered Offce- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colony, ‘Amrapali Mara, Vaishai Nager, Jaipur-302021 Contact no.0141-4118202 Email id’ info@finovain Website : www. finova.ina a. Electricity bill Water Bil/Telephone Bill/Mobile Postpaid bill/internet mobile phone, piped gas/ LPG book with latest receipt b. Ration card €. Letter (on letterhead only) from Sarpanch/Muricipal corporator verifying the identity and residence of the customer, letter should have photo attested & DOE + father/spouse narne mentioned thereon d. Bank Account/ Post Office Saving Senk Account Passbock, not more than 3 months old, having photograph attested thereon. ©. Copy of ttle deeds, clearly indicating thet the criginal ttle deeds were duly registered and stamped or copy of Land Patta / amabandi / 7/12 extract. NOTE: No waivers / deviations are allowed on KYC document and guidelines as mentioned above. However single KYC as mentioned in Point No 1 (Excopt - Pan Card) can be accepted for applicant / co applicant where income is not considerod 44, PERSONAL DISCUSSION (PD)/ CASE VISIT |, Personal discussion is must for every case as per matrix and the same wil be done post proper login and clearance of IM cheque/DD/CASH in non FTL cases and In FTL case clearance to be approved by L6 and above. ji, PD should be conducted at Business place and Residence Place. Visit of Property to be mortgaged is compulsory. The aforesaid visit isto be substantiated through photographs/Selfie and the same to be documented in file. fi, Business vintage should be at least 2 yearsand the same is to be verified through Neighbor check or documents like (Registration, Bills, Utility and Bills etc.| iv. Minimum 4 reference check to be documented in File. ‘can be done post login. Any waiver with regards to IMD LOAN EUIGIBILITY INCOME ASSESSMENT Income assessment to be done basis the PD and the same to substantiated through following documents and other documents on case to case basis Document | Requirement for SALARIED [ Requirement for Seif employed Income proof | inthe Cases with Fived Salaries paid by cheque: When q 1. Latest salary sip along with 3 salary credit in bank |1, Latest 2 years ITRs with computation for the statement individual applicants and co applicants, (I available) 2. if paid in cash- Salary certificate on letter head of |2. Detailed Cash flow analysis working by done by firm/company stating how long he hes been working. Credit Manager/BM /Fi Agency to visit & confirm this in person with supervisor and the same to be documented. 1 credit/concerned euthority besis PO/TVR ‘When borrower is company /trust Latest 2 years audited / C.A. certified profit & loss accounts and balance sheets of the firm / company 2. Latest 2 years ITRs for the firm / company Last 3 months Sales recosd |4, Cash book /kache bills, book cooy for last 3 months Rental income is received in cash /bank the sare to be verified through PD and Fi and the same can be considered at 50%. "Pension income can be considered at 50%. ‘Incase the cash salary is more than Rs.10,000/- then to be considered as Rs.10,000/: only for eligioility and calculation purpose and the same to be verified by BCM through visit or external F. (CHECKING OF CREDIT BUREAU REPORT ‘Credit Bureau Report (CIR) report of applicant, co-applicant and guarantor tobe generated before PD. if Credit Bureau Report score is low andif any loanis irregular or bouncing is cbserved, then approver to use the discretion to sanction such cases, Sufficient proof should be kept on record/ documented by the credit manager to mitigate the same. Deviation for low score may be given as per Approval matrix. = Where CIBIL and CRIF both are extracted, the deviation is to be taken even if the score in any report is in range of 300-650 as per deviation approval matrix, FINOVA CAPITAL PRIVATE LIMITED 9 Registered Office- 7tn Floor, Plot No 13-18, Unique Aspire, Cosmo Colony, Amrapali Marg, Vaishali Nagar, Jaipur-302021 Contact no. 0141-4118202 Email Id: info@finovain Website : wwys.finova.inGretna = In addition to CIBIL report, CRIF Report is to be extracted for all the cases where CIBIL Score is -1. Further the CRIF ‘report is to be extracted for all the cases where login amount is equal ane less than 10lacs. + All the running loans running in individual capacity and Joint capacity which are having balance tenor more than months to be considered as obligations. In case the same loan is appearing in one of the co-applicant then the same to be considered as only once. = In case of “Joint” ownership in credit report, then obligation of such loan/facilty shall be considered, unless applicant/co-applicant has a proof that he is guarantor or is non-paying member in the loar/facility. In case of Mudra Loan, MF! loan interest/EM! obligations to be considered while calculating FOIR. Interest of Gold Loans and KCC loans not to be cons\dered while calculating FOIR. ‘The loans which are appearing in capacity of guarantor should not be considered as obligation. IF any credit facility reflect in Credit Bureau report, as wilful default or suit fled then the approval for the same shall be taken rom approval from Lé with Collection team comfort irrespective of the credit score. (CHECKING OF BANKING STATEMENTS, SOA AND TRACKS OF EXISTING LOANS "Six month Bank statements of all the accounts of applicant and co-applicant is to be obtained whose income is ‘considered for eligibility purpose. BCM to scrutinize the bank statements to ascertain barking habits, cheque return, EMI bouncing. In case the epplicant/co-applicant is net naving bank account and the same is recently opened, then the banking from the date of opening will suffice and there will be no deviation ‘All the EMI obligations (having remaining tenor more than 6 months) shall be considered in calculation of FOIR. The obligations should be identified through Credit Bureau Reports, loan statement, bank statements of while conduct of PD. ‘= fFexisting loan is repaid through salary deduction or through bank statements or if loans are declared on application form or any other document, then these loans will be considered for FOIR if closure statement or less than 6 month's balance term proof is not given. FIXED OBLIGATION TO INCOME RATIO {FOIR) * For Calculation of eligibility where income is equal or less than Rs 20,000/- then Maximum 2 Person income can be considered for computed purpose and the FOIR should not exceed 40% in that case. combined income is more than 20000 then the FOIR should nat exesed 50%, ‘= Interest of Gold Loans and KCC loans not to be considered while calculating FOIR. In case of Mura Loan, MFI oan interest/EMI obligations to be considered while calculating FOIR.. Any deviation to FOIR is to be approved by delegated authority as per approval matrix LOAN TO VALUE (LTV) Valuation of property offered s to be conducted through paneled Valuer. = The development of the area should be equal to greater than 40%, for considering the property. Any deviation to be approved by LS and sbove. = Only completed property can be considered far LAP cases, on exceotion basis property completed upto B0% can be ‘considered post approval of L3 and above. In HL cases construction estimate is to be obtained from the customer and the same to be votted by CM/Valuer. In case of Top up/multiple loan on same property, the LTV shall be computed basis both the loans. 6. VALUATION OF THE PROPERTY = Valuation of property from empaneled valuer is mandatory Valuer to capture photograph of the property and his se‘fie with the property ‘= Valuer to mention the latitude and longitude of the property with google map. = Any Correction on the Valuation which is not material and done due to error can be validated by BCM or above ‘authority (Eg: Application number mismatch, Property Owner Differ mentioned , Lesser Area Considered et.) 7. EXTERNAL F1_OF THE PROPERTY/ BUSINESS PLACE = The extarnal Fl to be done fram empanelled agencias is mandatory for the cases above 1 Lacs and less than 10 Lacs forall the applicant and co-applicant whose income is considerec. = External Agency to capture photogragh of the proparty, business place, and employer place where customer is ‘working and his selfie with that location, FINOVA CAPITAL PRIVATE LIMITED 10 Registered Office- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colony, ‘Amrapali Marg, Vaishali Nagar. Jaipur-302021 Contact no. 0141-4118202 Email id info@finovain Website ‘ www fineva ini] FINOVA CAPITAL = Incase of the report status is Credit Refer / Negative then respective OM to take approval with proper justifications from ACM or above authority. If ACM or above has done the PD and Fl report status is Credit Refer / Negative then they can approve their own basis their PD. 8. EXTERNAL PD OF THE PROPERTY/ BUSINESS PLACE "= The external PD to be done from empanelled agencies is mandatory for the cases equal to or above Rs. 10 lacs for all ‘the applicant and co-applicant whose income is considered = External Agency to capture photograph of the property, business place, and employer place where customer is ‘working and his sefle with that location, Incase of the report status is Credit Refer / Negative then respective CM to take approval with proper justifications from ACM or above authority. If ACM or above has done the PD and External PD report status is Credit Refer / ‘Negative then they can approve their own basis their PC 9. LEGAL REPORT/VETTING OF THE PROPERTY PAPERS = Legal and vetting report of property documents from empaneled lawyer is mandatory. ‘= TSR to be mandatory in case of registered documents. = Where Gift deed execution date is less than 1 year from the date of Login, then in 100% cases Certified Cony to be obtained. However if online RCU Verification is obtained and found OK then Certified Copy is not required. Any Immaterial Correction on the Legal Report which is not material can be validated by 8CM (Eg. Application Number atc). 1 Registered Blue print icrequirad in those cases where olue print is not available with registered documents. However waiver for the same can be given by Le Authority, = Undermentioned Documents are required for different type of Property titles. The documents which are bold and underlined may be waived on case to case basis by BCM and above who has vetted the legal report. Legal report to be signoff by the respective credit manager. Any waiver of the decuments prescribed by Advocate and waiver of registered mortgage can be given by COO. TYPE OF PROPERTY TITLE LEASE [IDA | RHB ‘SOCIETY [aGricutrure | PANCHAYAT NAGAR NIGAM | How | WDA Lease | RHE Rlotment | Certified Copy | in case of value | Nagar Nigam | eed along | Atoument | Letter of Jamaband by | consideration | Lease Deed with Site | Letter Patwari registered ‘along with Site Plan (DA Panchayat Patta is | Plan (Nagar patta required Nigam Patta Stamp ++Stamp Papers) Papers) - sale deed | RHB site Plan ‘conversion | in case | sale deed Possession consideration is letter ero then registration not required, panchayat NOC will | sultice No Due | Receipt Takasama** | Name transfer Centficate | letter |_| Netter | Conveyance | in case of | Registry or Gift ‘NN Allotment Deed transfer of Letter** | pata | | additional | Receipt — in | favor of transferee - FINOVA CAPITAL PRIVATE LIMITED "4 Registered Offce- rin Floor, Plot No 13-14, Unique Aspire, Cosmo Colony, ‘Amrapali Marg, Velsnaii Nager, Jaypur-302021 Contact no. 0141-4118202 Email id: info@finovain Website : www finova.inPerpetual | site plan NNN Possession | Lease Deed Letter"* Name transfer letter SPECIAL PROVISIONS FOR STATE OF MP * Gram Panchayat Patta dated before Luly 2018 issued by Sarpanch and Gram Sachiv may be funded. GGram Panchayat Patta dated after July 2018 can be funded ifthe same are issued by Tehsidar. Stamping on POA isnot required AMO is tobe done for unregistered Patta * stamp cuties and charges wil be levied a5 applicable. ‘= Gram panchayat formats to be taken in Patta cases such as: © Mutation certificate in fvour of property owner Panchayat NOC format in favour ot property owner © Construction plan certificate in favour of property owner © Construction permission in favour of property owner SPECIAL PROVISIONS FOR DELHI = Only regularized colony to be funded, however sanction play Only Floor/ unit up to G+3 can be funded. Property having title has Power af Attorney (POA) is not to be funded. Title search for 13 years is mandatory. I the title document dateis less than equal to 12M than endorsement is mandatory on mother Deec.( Any deviation fn this can be approved by L5 ard above on casas to case basis} not required. 10, DOCUMENTATION [sR. | PARTICULARS DETAILS No. _ a. | Photos “Photos of applicant & co applicant signing agreement is must, 2. Photos of sales & credit team visiting customer is must. 2. | PDEs. 115 PDC of repayment Account, 5 PDC's from each co- applicants/applicant whose income is considered & 3 PDC of Guarantor is required before disbursement, Note: 5 PDC’s are mandatorily required of female member in loan. 3. | Declaration ‘Operation declaration is must mentioning that all charges have been explained to | customer, cheque/ cash details submitted have been cross verified by custemer | Recommendation email | RO/BM visit on each case Is mandatory and he should share his recommendation post visit for login along with Google Map, Selfie with Property and customer. If the case 's login is less than 7lacs then the BM recommendation is mandatory and if the case is for more than 7 lacs then the ASM recommendation is mandatory before Login Signature verification | Banker's sign Verification for repayment account is mandatory where there is difference in IMD Cheque copy or IMD not clear. __| "ment | In case where any party in the loan either havea signature in language other than English or have thumb impression as signature, a vernacular duly signed by that party is required which acknowledges that the agreement in English has been read and understood by that party and gives consent to abide with the terms and conditions 9 | Loan Agreement Loan agreement must be completely filled in and correctly stamped. The same ‘must be signed by all the applicant /co-applicants. Any correction is te be signed _by the applicant/co-applican’ as the case may be. 30._| Valuation Report Valuation report of the security by the empaneled valuer. 21. | Legal report ‘Legal opinion from an empaneied lawyer certifying @ clear & marketable ttle to _| the property and vetting report of the documents by the empaneled lawyer. 32 | Repayment Track | One of the following documents is to be collected to establish the Repayment Record ‘Track Record (RTR) | 1. Bank statements for 12 months showing EMI | FINOVA CAPITAL PRIVATE LIMITED 12 Registered Offce- 7th Floor, Plot No 13-14, Unique Aspire, Cosmo Colory, ‘Amrapali Marg, Vaishali Nager, Jaipur-302021 Contact no 0141-4118202 Email id: info@finovaiin Website : www.finova.in @ Vernacular Req2. Repayment Track record / statement for lestone year showing EMI / Pre-EW” repayments from the eariiee HFC / Bank /F’s(12 months’ subject to actual no. of months of repayment to the earlier HEC) 3. Last 6 montis stamped vouchers in case of cash repayment showing EM / re- EMI repayments to earlier nk E's 13, | Property Documents | Before sanction copy of property documents of the security sto be submitted and before disbursement original property papers isto be submitted by the customer. Incase of BT the same ta he submitted post BT. 14. | Uist of Documents (LOD) | Customer to submit a LOD issued by existing HFC / Bank / NBFC & photocopies of documents mentioned in LOD prior to sanction of loan. 15 | Foreclosure letter “Must be on the letterhead of existing HFC/ Eank/NBFC’s and must contain: Date Applicant and/or co applicant names ® Loan account number Outstanding principal amount » Pre payment charges {ifany} amount Any ather dues (if any) amount Date on which the atove amount must be prepaid Property address In case property address is not mentioned on the foreclosure letter, then the same to be verified from oroperty details mentioned in LOD. 36 | Take Over Latter J in case of BT, operations department shall provide a takeover letter to BCM/Panel Lamyer/Authorized Person 37 | Latter of authority from | In case of BT, Required from the customer authorizing the Finova Capital Pvt.Ltd customer representative to collect Original title documents & mortgage release letter on his, behalf from the earlier HFC/Bank / NBFC's 38 | Swapping of PDC In case any customer wanted to swap its repayment account POC's /ACH then approval from respective branch BCM is required. 9 | Release of Registered | In cases of BT, where the provious HFC / Bank/NBFC has crested a registered Mortgage/ ROC charge | morigege/ ROC charge on the property, the said charge would require to be wherever applicable _| cleared before release of balance payment. 20 | Insurance Form and | General insurance and Life insurance of applicant/co-applicant who are income Calculator earner to the tune of repayment of EMI is compulsory upto the value of the loan amount. (In case any waiver of General insurance that should de as per Deviation Matrix) 21 | Construction estimate | in case of HL, the actual construction/ renovation/addition cost is to be given by (incase of construction) | the customer and the same can be accepted if the same Is on plain paper and signed by the customer. Otherwise, the proposed construction value of the property mentioned by the valuer in his valuation report, shall be considered for calculation of LTV. 22 | Banking Statement of account of SB/CD A/c of all the applicant/eo- applicant whose income 's considered for loan eligibility is to be submitted before sanction. E ACH mandate Is required from all applicant, co-applicant and guarantor. ‘swapping of Property | in case customer desire to swap the collateral property mortgage with us, then Papers approval of same is required from LS or above authority on recommendation made by BCM. Before swapping valuation and legal of new property needs to execute. The valuation should suffice the LTV norms as per the credit policy and the valuation of the aroperty should be equal or higher than the current mortgage collateral. Legal title should be clear as per the policy. 7S | Reschedule on Part | In case customer deposited part payment then customer will provide in writing Payment whether he wanted to reduce his tenure or his EMI amount. The same should be approved by L3 & Above. 26 | Affidavit Photo in| In cases where there are properties mortgage with us is more than one then Agreement additional affidavit required irrespective to the count of number of properties offered for mortgage with us. [ADDITIONAL DOCUMENTATION WHERE & PRIVATE LIMITED COMPANY IS APPLICANT /CO-APPLICANT. No. | DOCUMENTS: REMARK Shareholding Pattern Certified by CA FINOVA CAPITAL PRIVATE LIMITED 13 Registered Offce- 7th Floor. Plot No 13-14, Unique Aspire, Cosmo Colory, ‘Amrapali Marg, Vaishali Nager, Jalpur-302021 Contact no. 0141-4118202 Email ld info@finovain Website : www.finova.in