This letter from Neelkanth Ispat responds to Punjab & Sind Bank's request for additional information to process a credit facility application. It provides detailed responses to 11 questions or issues raised by the bank, including clarifying collateral property ownership, partner/firm account status, financial projections, capital investment plans, and credit worthiness. Neelkanth Ispat requests that the bank sanction the credit facility at the earliest based on the responses provided.
What are the regulatory changes that will affect mortgage lending in 2010? How will the mortgage rates move and what are the loan production forecasts?
Happy Feast Day Devotees of the Divine Mercy...today is the Memorial of the Secretary of the Divine Mercy...the first Saint of the Millenium St. Faustina Kowalska.
May
What are the regulatory changes that will affect mortgage lending in 2010? How will the mortgage rates move and what are the loan production forecasts?
Happy Feast Day Devotees of the Divine Mercy...today is the Memorial of the Secretary of the Divine Mercy...the first Saint of the Millenium St. Faustina Kowalska.
May
How To Turbo-Charge Incident Response With Threat IntelligenceResilient Systems
Minutes, hours, days - each one counts when responding to a security incident. Yet most firms have a lot of room for improvement. According to the 2013 Verizon Data Breach Investigations Report, in 66% of cases (up from 56% last year), breaches remained undiscovered for years, and in 22% of cases, it took months to fully contain the incident.
This webinar will review the challenges firms face in trying to create a rapid and decisive incident response (IR) process. It will then highlight the crucial role that timely, contextual threat intelligence can play in turbo-charging incident response, particularly when tightly integrated with the broader IR discipline. Finally, it will reveal the power of this approach by demonstrating Co3's integrated threat intelligence capabilities including intel from industry-leader iSIGHT Partners.
The trends continue to point upward for data incidents and 2013 is becoming a pace setter. The shifting regulatory landscape promises to add further complications for companies struggling to prepare for and respond to data privacy incidents.
This webinar will feature two leading data breach experts who have performed a two year trend analysis across hundreds of cases to offer a powerful and up-to-date perspective on what has happened and their predictions for the future. It will also cover how these factors are shaping regulations which are in turn influencing decision-making in the C-Suite.
Our featured speakers for this timely webinar will be:
-Bill Hardin, Director of Data Privacy Response & Investigations, Navigant
-Jennifer Coughlin, Privacy and Data Security Attorney, Nelson, Levine
-Gant Redmon, Esq. General Counsel and VP of Business Development, Co3 Systems
God Store Ministries: Webstore Design Samples. Including Joel Osteen Ministries, Victoria Osteen, Lisa Comes, Lakewood Church, Compass Bible Study, Young at Heart, Womens Ministry, MercyMe, The Hurt and the Healer, Almost There, The Generous Mr. Lovewell, International House of Prayer, IHOP.org, IHOPKC.org, Luke 18 Project, Exodus Cry,
ABOUT THE PRESENTATION
This presentation is based on my first hand experience in income tax assessments over past 3 years. I have tried to expalin in breif as to what
transpired at ground level in each case without use of much of jargon.
It has dawned on me that learnings from income tax assessments has broader implications and extends to audit, income tax return filing,
accounting and overall working of organisations.
I hope that readers will find this presentation useful
How To Turbo-Charge Incident Response With Threat IntelligenceResilient Systems
Minutes, hours, days - each one counts when responding to a security incident. Yet most firms have a lot of room for improvement. According to the 2013 Verizon Data Breach Investigations Report, in 66% of cases (up from 56% last year), breaches remained undiscovered for years, and in 22% of cases, it took months to fully contain the incident.
This webinar will review the challenges firms face in trying to create a rapid and decisive incident response (IR) process. It will then highlight the crucial role that timely, contextual threat intelligence can play in turbo-charging incident response, particularly when tightly integrated with the broader IR discipline. Finally, it will reveal the power of this approach by demonstrating Co3's integrated threat intelligence capabilities including intel from industry-leader iSIGHT Partners.
The trends continue to point upward for data incidents and 2013 is becoming a pace setter. The shifting regulatory landscape promises to add further complications for companies struggling to prepare for and respond to data privacy incidents.
This webinar will feature two leading data breach experts who have performed a two year trend analysis across hundreds of cases to offer a powerful and up-to-date perspective on what has happened and their predictions for the future. It will also cover how these factors are shaping regulations which are in turn influencing decision-making in the C-Suite.
Our featured speakers for this timely webinar will be:
-Bill Hardin, Director of Data Privacy Response & Investigations, Navigant
-Jennifer Coughlin, Privacy and Data Security Attorney, Nelson, Levine
-Gant Redmon, Esq. General Counsel and VP of Business Development, Co3 Systems
God Store Ministries: Webstore Design Samples. Including Joel Osteen Ministries, Victoria Osteen, Lisa Comes, Lakewood Church, Compass Bible Study, Young at Heart, Womens Ministry, MercyMe, The Hurt and the Healer, Almost There, The Generous Mr. Lovewell, International House of Prayer, IHOP.org, IHOPKC.org, Luke 18 Project, Exodus Cry,
ABOUT THE PRESENTATION
This presentation is based on my first hand experience in income tax assessments over past 3 years. I have tried to expalin in breif as to what
transpired at ground level in each case without use of much of jargon.
It has dawned on me that learnings from income tax assessments has broader implications and extends to audit, income tax return filing,
accounting and overall working of organisations.
I hope that readers will find this presentation useful
House magazine for the associates of Gopast. This is the eighteenth quarterly issue. Inscriptions made on stone seldom fade, this is the core of the tag line of this magazine. Truth Stays Forever. This magazine will be of interest for people engaged in the financial services industry
1. 22/02/2012
TO
THE BRANCH MANAGER
PUNJAB & SIND BANK
IFB,LUDHIANA
REG:- YOUR ZONAL OFFICE LETTER DATED 20/02/2012
REF:- CREDIT FECLITIES TO BE SANCTIONED TO M/S NEEL KANTH ISPAT
SIR,
WE ARE GIVING YOU PARAWISE REPLY AS FOLLOWS:-
1 THE REPLY SHALL BE GIVEN BY THE BRANCH
2 THE VALUE OF PROPERTIES TO BE OFFERED AS COLLERTAL SECURITY
IS BASED ON JUDGEMENT AND MARKET VALUE AND NOT ON THE
HIGHER SIDE.AS FAR AS ASSETS/LIABILITIES STATEMENT OF JAGRITI
GARG AND POONAM GARG THE 295 SECTOR 5 B NEWSHASTRI NAGAR
MANDI GOBINDGARH,THE PROPERTY IS HAVING HALF SHARE OF
POONMA AND JAGRITI AND SAME IS WITH 323 SECTOR 4A HAVING
HALF SHARE OF SANGEETA GUPTA AND VIPIN GUPTA.IT IS NOT
REPATED BUT SAME HAS BEEN SHOWN AS PER SHARE IN THE
PROPERTY.
3 THE ACCOUNTS OF THE PARTNERS/FIRM/GURRANTORS/GROUP
CONCERNS ARE RUNNING REGULAR THIS WE CONFIRM FROM OUR
SIDE.
4 WE ARE GOING TO APPLY THE REGISTRATION OF THE FIRM AND SAME
SHALL BE DONE IN DUE COURSE OF TIME.
5 WE ARE ENCLOSING VAT RETURNS FROM 1.4.2011 TO 31.12.2011 AS
REQUIRED BY YOU.
6 THE FIRM HAD RUN THE ROLLING MILL ON LEASE BASIS THAT IS WHY
SAME HAS NOT BEEN COME IN FIXED ASSETS OF THE FIRM IN THE
BALANCE SHEET.
7 THE REPLY OF THE SAME SHALL BE GIVEN BY THE BRANCH
8 WE JUSTIFY THE CONCESSION IN PROCESSING FEES,COMMISSION
CHARGES & COMMISSION CHARGES DUE TO TUFF COMPETION IN THE
MARKET AND HIGH VALUE OF THE ACCOUNT.WE HAVE ALREADY
TRANSECTED 18 CRORES TRANSECTION IN ONE AND HALF MONTH IN
BANK ACCOUNT WHICH IS SELF SPAEKING.
2. 9 WE CONFIRM THAT IN FUTURE WE HAVE NO PLAN TO CHANGE THE
PARTNERS’ IF THE SAME SHALL BE DONE BANK PRIOR PERMISSION
SHALL BE TAKEN.
10 AS PER CIBIL REPORT IN THE NAME OF SH.VIJAY GUPTA BALANCE IN
AUTO LOAN RS.2766.00 HAS BEEN SHOWN AS OVER DUE IN AUTO LOAN
BUT THE SAME SHAL BE DEPOSITED AND RECEIPT SHALL BE PROVIDED
TO YOU AND THERE IS NO OVER DUE AMOUNT OUTSTANDING IN
TBHAT ACCOUNT.
PROPERTIES OFFERED AS COLLATERAL SECURITY:-
1. WE HAVE ALREADY GIVEN THE PHOTOCOPY OF THE PROPERTIES TO
YOUR APPROVED ADVOCATE AT KHANNA THE SAME SHALL BE GIVEN
BY HIM THE LEGAL OPINION WITH IN THREE TO FOUR DAYS .
2. THE REPLY OF THE SAME SHALL BE GIVEN BY THE BRANCH & BANK
ADVOCATES.
3. THE ADDRESS OF TWO PROPRIETIES ARE SAME DUE TO HALF SHARE
OF THE OWNERS THAT IS THERE ARE TWO OWNERS OF THE SAME
PROPRIETIES DIVIDED IN TO HALF OF THE EACH OWNER.
FINANCIAL POSITIONS:-
1 WE RECTIFY CMA DATA AS PER THE REQUIREMENT AND WE SHALL
TAKE THE FIGURES OF 31.03.2010 INSTEAD OF 15.03.2010 . IN
CONVEYENCE CAUSED TO YOU IS HIGHLY REGRETED .
2. THE SALES HAS ALREADY BEEN ACHIEVED OF RS. 42-CRORES AS ON
31.12.2011AND THE PROJECTED SALE FOR RS. 60-CRORES FOR THE
FINANCIAL YEAR ENDED 2011-2012 SHALL BE ACHIEVED EASILY AND
IN FUTURE WITH THE BANK HELP IN FINANCIAL YEAR 2012-2013 WE
CAN ACHIEVE THE PROJECTED SALE OF RS.80-CRORES.
3. THE PROFITIBILITY SHOWN IN CMA DATA FOR THE FINANCIAL YEAR
2011-2012 SHALL BE ACHIEVEABLE. WE HAVE ALREADY TCS OF RS.1.76
LACS AS ON 31-12-2011 AND THE REST OF DUE TAX SHALL BE
DEPOSITED ON 15-MARCH-2012 AS PER INCOME TAX PROIVISIONS.
4. ALLTHOUGH SUNDRY CREDITORS HAS BEEN PROJECTED ON LOWER
SIDE BUT IT IS IN THE PERMISIBLE LAB EL OF THE BUSINESS . AS BANK
LIMIT HAS BEEN SANCTIONED BY YOUR BANK THAN SUNDRY
CREDITORS SHALL BE ON THE LOWER SIDE , PURCHASES SHALL BE
DONE WITH THE BANK FUNDS .
5. CASH & BANK BALANCE IS NOT PROJECTED ON THE HIGHER SIDE ‘ IT
INCLUDDES MARGEN MONEY ON THE LC LIMIT BUT WE ENSURE YOU
THAT WE SHALL KEEP THE MINIMUM CASH AS PER BUSINESS
3. REQUIREMENT. IN THE PAST WE HAVE NO LC LIMITS THAT IS WHY
CASH & BANK BALANCE IS ON THE LOWER SIDE.
6. INVENTORY LEVEL IS PROJECTED ON THE OPTIMUM LEVEL AS IT IS
WITHIN ONE MONTH OF THE SALES . IN THE PAST END THE LEVEL IS
LOWER DUE TO LOWER SALES VOLUME AND NO BANK FACILITIES
AVAILED BY US.
7. WE HAVE ALREADY INVESTED CAPITRAL OF RS. 220-LACS AS ON 31-12-
2011 AND THE BALANCE OF RS. 110-LACS INJECTING AS FRESH
CAPITAL SHALL BE INVESTED BY THEIR OWN SOURCES AND
UNSECURED LOANS FROM RELATIVES & FRIENDS.
8. INCREASE IN FIXED ASSETS AND TERM LIABILITIES HAS BEEN
PROJECTED DURING 2011-2012 DUE TO INCREASE IN BUSINESS AND
SAME SHALL BE INVESTED IN VEHICLES’ SOFTWARES’ & OTHER
INFRASTURE OF THE FIRM BY TAKING THE LOAN FROM BANK OR
FINANCIAL INSTITUTION WHICH INCREASE THE FIXED ASSETS AND
TERM LIABILITIES . IN 2012-2013 THE SAME FIGURE HAS BEEN THERE
AFTER PAYING THE INSTALLMENTS.
9. CURRENT RATIO IS PROJECTED AS 1.47 AND TOL/TNW IS 3.05 WHICH
IS WITH IN THE PERMISIOBLE LIMIT OF THE BANK BUT IN THE
PREVIOUS YEAR THAT IS 2011-2012 CURRENT RATIO IS BELOW THE
BENCH MARK LEVEL DUE TO FREQUENT CHANGE OF PARTNER’S &
MANUFACTURING ACTIVITIES WHICH IS NOW CLOSE DOWN BY THE
PROMOTORS.
10. NET WORTH OF THE PARTY IS GOING TO INCREASE IN 31-03-2012 &
WE ENSURE YOU THAT PROFITS OF THE FIRM SHALL BE ADED BACK TO
IMPOROVE THE TOL/TNW .
11. WE CONFIRM THAT SUNDRY DEBTORS & CREDITORS ARE NOT MORE
THAN SIX MONTH’S OLD.
WE TRUST THAT WE HAVE REPLY ALL THE QURIES RASED BY YOU & WE
REQUEST YOU TO KINDLY SANCTIONED CREDIT FACILITY TO US AT THE
EARLIEST.
THANKING YOU
YOURS FAITHFULLY
FOR NEELKANTH ISPAT
PARTNER