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MCL MIZZLE CONSULTANCY LENDING SERVICES

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reena singh

The document describes the services offered by MCL Consultancy Lending, which includes arranging various types of loans and donations. Some key services mentioned are organizing loans for various sectors (such as home, education, and infrastructure loans), joint ventures, trade finance, registrations, website development, college establishment, and loan/donation application assistance. The document provides contact information and describes the process and documentation required to apply for loans or donations through MCL Consultancy Lending.

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MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Consultancy Services We organize funds for the following sectors • Home Loan • Plot Loan • Mortgage Loan • Education Loan • Project Loan • Joint venture for infrastructure company (minimum 100 cr & above) • Joint venture for hospitals (minimum 100 cr & above) • Equipment leasing and financing, Infrastructure, Energy, Road Transport, Oil & Gas Industries • Trade Finance Services i.e. BG, LC, SBLC, MTN (for Export & Import) • Auto Mobile Industries • Food Processing Industries • Education (Engineering & Medical College) • Worldwide Hospital and Health Care and Star Hotels • Software & hardware, Telecommunication Projects • Manufacturing / Production Industries • Vendor Finance • Gateway Donation • FCRA Donation • 80G Donation • 12A Donation • 35AC Donation • 35AC (1&2) Donation • 35AC (1&3) Donation • Overseas Joint Venture Services (minimum 100 Cr & above) • Registrations of Multi State Co-operative Society • Open 1st Party Payment Gateway Account • 35 AC Registrations Services • 35 AC 1&2 Registrations Services • 35 AC 1&3 Registrations Services • 80 G Registrations Services • 12 A Registrations Services • 10 (23C) Registrations Services • Registration of NBFC Company • Website Designing • Registration of Private Limited Company • Registration of Limited Company • Registration of Section 25 Company • NGO Registration State Level • NGO Registration Allover India Level
• Non Profit Company • NPO • ISO for NGO • ISO Registration • FCRA Registration • Permanent FCRA • Prior Permission • Amendments • Project Report Development • Project Report Preparation • Project Proposal Preparation • Utilization Certificate • Event / Visit Report • NGO Profile • Evaluation Report • Survey • Research Report • Planning • Policy Document • Concept Note • Feasibility Report Development • Deeds • Rules & Regulation • Leaflet • Booklet • Format Development • Legal Advice • NGO Grants • NGO Funds • NGO Donations • Government Schemes • Private Sector Schemes • Corporate Sector Scheme • International Schemes • Government Policies • Logo • Letter Head • Visiting Card • Envelop • File & Folders • Browser • Website Development • Static Website • Dynamic Website • Flash Website • Dental College • Medical college
• Research centre • AYURVEDIC College • Homeopathic and Biochemistry college • Polytechnic Colleges • Engineering Colleges • Physical Education Colleges • LAW Colleges • College of Social science • Institute of Mass Communication • Science College • Arts and Commerce College • Hotel Management and Catering Technology College • Social Work College • Mass Communication College • Bachelor of Education (B.Ed.) College • AVIATION / FASHION / Interior Designing College • MBA College • Hospitality College • Life Sciences College • Architecture College • Bachelor of Science College • Bachelor of Computer Science College • Bachelor of Science (Information Tech.) College • Project Preparation & Application Submission • For Nation/ Domestic Grant Service • Foreign Contribution and Regulation Act (FCRA) Registration • LLP Registration • VAT Registration • Digital Signature for IT & MCA • Class 3 Digital Signature for e-Tender • PAN Card • TAN No • DIN/DPIN Application • Service Tax Registration • Apply for Import & Export Code • Shop & Establishment Registration • Trade mark registration • Producer Company • NIDHI Company • Chit Fund Company • Foreign company registration • Offshore company • Ready made company • Winding up / Closure of a company • Company registration guidelines • Company seal • Minute book
• Share certificates • Renew your DSC • Reprint of MOA & AOA • Get a hard copy of company incorporation certificate • Obtain a digital signature certificate (DSC) • Virtual office services • Nominee director services • Opening a bank account • Keep registered office at our address • Providing accountant on our roll • Providing staff on our payroll • Provident Fund (PF) • Employees State Insurance (ESI) • Patent & Copyright • ISO & ISI Certifications • Book Keeping & Accounting Services • Auditing & Assurance Services • Due Diligence & Sanity Check • Transfer Pricing (TP Study) • Drafting of Agreements • Company Law Matters • ROC Compliance • Income Tax • Service Tax • Professional Tax • XBRL Filing • NRI Matters • ISO 9001:2008 • ISO 14001:2004 • ISO 18000 • ISO 13485 • CE Mark • FSSAI, SSI • Trade Mark • BAR Code • HACCP • ISO 22000 • ISO/TS 16949 • SA 8000 • CMMI Call 09235103839 08090227844 08423616634 09670087461 09696386296
MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Loan Services • Loan 10 CR TO 1000 CR (Rate of Interest 3% to 15% per annum) • Loan application submission fees-1 Lac • Service charges-5% to 10% CORPORATE / BUSINESS FINANCING OVERVIEW • Brief description of the nature of the project and its location. (Kindly attach Location Map) • Brief background on principals describing their experience • How much capital have the principals put into the project to date and specifically how were those funds allocated? • How much capital can the principals put into the project going forward? • Is the land on which the project is to be constructed currently owned by the principals? • What is the current “as is” value and/or purchase price of the land? • Are there any encumbrances against the land? Yes ______ No _______ • If there are encumbrances on the land for what amount? $_______________ • Do the principals have all necessary state, city and other government approvals/permits already in place? Please attach copy of all approvals/permits • Are there any contracts in place for the services or products to be supplied in place? If, not when are they expected? If Yes, Please attach copy. • What is the estimated completion value of the project? • How much financing is being requested? • Total Project Costs and specific breakdown of how these funds will be used:
• Please attach the Financial Projections. • We need a projection showing the anticipated annual revenue and net income for the project for loan period. (Please attach the Financial Projection) • We need a current balance sheet showing how the borrowing entity is currently capitalized. If the borrower is not a company then a personal financial statement will suffice. • Credit Scores of principal(s) _______ _______ _______ _______ _______ _______ • Principals Names: • Address: • Telephone Number: • Cell Number: • Fax Number: • E-mail Address: • Website: Documentation Needed: • Request Letter (on letterhead of the Company) to manage fund for this project, and appointment of mizzle as Financial Consultant for this Project. • Principle’s Resume (all officers and directors) • Current appraisal • Business plan, Executive Summary • Current financial statements (project’s & sponsor’s) • Project income/expense data • Plans, permits, authorizations, approvals, PPAs • All legal Documents of the Company including ROC, PAN CARD, Tax Return Statements, Balance sheet last three year • Detail of Loan taken on Companies Account, if Any • Latest DPR (All Volume) • Project Feasibility Study Report • Latest updated cost (If updated) • Tariff calculation Details (If Required) • Interstate Agreement (If Required) Business Plan • [Name of the company] • [Date] • TABLE OF CONTENTS • EXECUTIVE SUMMARY
• BUSINESS OVERVIEW • The problem • The idea • Organization’s history • Mission, vision and business model • Value proposition • INVESTMENT RATIONALE • Funding request • Output and impact • MARKET AND COMPETITION ANALYSIS • Value chain overview • Market size • Competition • MARKETING PLAN • Product • Price • Place • Promotion • ORGANIZATION • Organizational structure • Geographic presence • MANAGEMENT • Management team • Shareholders • OPERATIONS • PROJECT EXECUTION • FINANCIAL PLAN • Proposed funding structure • Financial plan • RISK ANALYSIS AND MITIGATION • APPENDICES • Appendix A: Resume for key staff • Appendix B: Revenue and Cost Assumptions • Appendix C: Detailed Financials NOTE- • Service charges 5% to 10% of loan amount after disbursement • Loan Application submission fees-1 LAC Cash deposit in • SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI
• SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI • SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Referring Loan cases & Get Rewards Cars Referring 10 Cr loan cases Reward- HYUNDAI i10 (5 Lac) Referring 25 Cr loan cases Reward- HYUNDAI VERNA CAR (10 Lac) Referring 50 Cr loan cases
Reward- AUDI A3 CAR (25 LAC) Referring 100 Cr loan cases Reward- AUDI Q7 CAR (50 LAC) Interested person please send your all details- PERSONAL INFORMATION Name Date of Birth Nominee name & Relation Nominee date of birth Address with pin code Mobile Email Pan no BANK DETAIL Bank account no Bank name IFSC Code Bank branch name SOFT COPY OF DOCUMENTS Photo Pan card with sign Voter id with sign
Cancelled cheque with sign Please send Soft copy of documents on-mizzlesadhana@gmail.com MCL CONTACT NO 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Donation Services Gateway Donation FCRA Donation 80G Donation 12A Donation 35AC Donation 35AC (1&2) Donation 35AC (1&3) Donation Please Send Detail for Donations • NGO Details • Name of VO/NGO • Name of Chief Functionary • Name of Chairman • Name of Secretary • Name of Treasurer • Do you want to add members? • Umbrella/Parent Organization • First Registration Details • Registered with • Type of VO/NGO • City of registration • State of registration • Date of registration (DD-MM-YYYY)
• Valid up to (DD-MM-YYYY) • Registration No • Copy of Registration Certificate 35 AC + F C R A (Only PDF/JPG files are allowed. Max size 2 MB) • Multiple Registrations Details if any • Do you want to add more registration? • FCRA Registration details • FCRA Registration no. if any • 35 AC Registration details • 35 AC Registration no. if any • Date of Registration 35 AC + F C R A (DD-MM-YYYY) • Valid up to (DD-MM-YYYY) • Sector/ Key Issues • Select issues you are working on (Multiple selection is possible using Ctrl key) • Select operational area- states (Multiple selection is possible using Ctrl key) • Details of Achievements • Major Activities/ Achievements (Not more than 500 words) • Contact Details • Complete Address along with Pin code • City • State • District • E-mail (Please enter valid Email Id, It will be required to activate your account) • Website URL of NGO • Telephone • Fax Self Declaration I hereby declare and affirm that the information provided by me is true and correct to the best of my knowledge and belief and that this VO/NGO has not signed up earlier. I am solely responsible for updating / correcting any changes in the above information Document Required- • Letter to the RBI (Hand Written) • Request letter to the Donor (Hand Written)
• Willingness letter (Hand Written) • Detail of the society • List of governing body members • Title page • Organization certificate • Registration renewal certificate of the trust • Memorandum & the article of association of trust • Pan Card • Details of the trust bank account • Resolution of the trust to appoint the auditor for five years • Letter of appointment of the auditor for five years • Conformation of the auditor accepting the letter of appointment • TDS Certificate • Staff list • List of governing body along with their addresses • Witness letter in the favor of the society • Appreciation letters of the society • Nul & Void letter • Authorization letter (Hand Written) • Executive summary of the project and cost • Bank verification letter • Signature verification letter authorized signatory of the bank • Gazette notification of 35 [1][2] mentioning in the name of the trust • Valid 12A certificate • Valid 80G exemption certificate • Annual report of the trust [last 3 year] • Project report with cost • Form 56 parts 3 {as submitted to the income tax department} • Income tax return of the trust {last 3 years} • Declaration of the trust for non receipt of anonymous funds • SIRO Certificate • Last 3 years FCRA Account of the trust {FC3} • CBDT Clearance of the proposed project {separate binding} Normal time taken for sanction of grant Assuming that all requisite documents is available and up-to-date, and that funds are available under the schemes, the processing and final sanction of grant takes 3 to 4 months. NOTE- Service charges 10% of donation amount after disbursement Application submission fees-1 LAC Cash deposit in
• SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI • SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI • SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL SKR (Safe Keeping Receipt) Services Regarding issuing SKR/BG/SCR of clients I need the following documents:- • Identity Proof & Address Proof (Property Holders) • Borrower’s Company Info (such as ROC, Certificate of Incorporation, Pan Card Photo Copy, Article of Memorandum, Last 12 Months Current A/c Statement of Company, Income Tax Paper of past 2-3 years, Vat Registration Certificate.) • Property Deeds of Property Holder at present. • EC of past 35 Years • Tax Receipt photo copy of last 3-5years. • Affidavit of Non-Encumbrance • Govt Recognized Valuer Valuation Report(Must not be 18months older of today’s date) with full details. • Gold Search Report if any. • Search Certificate from High Court Advocate. Board Resolution Copy I need the following to proceed further: • Authorization Letter For Issuing The Bank Instrument & Discounting or Monetizing The Same- must be notarized in 100rs stamp paper.(format attached). • Authorization For Verification-True Copy (must be notarized). • Legal Opinion From High Court/Bank Approved Lawyer. • Affidavit of Non-Encumbrance
• Letter of Confirmation (must be notarized in client's letter head). RBI/Bank Approved Project (project report along with projected balance sheet-must be made by any renowned ca) KYC & MOA. KINDLY NOTE DOWN THAT IF THE PROPERTY WHICH WILL GOING TO BE RAISED AS SKR BELONG TO ANY THIRD PARTY THEN I NEED THE NOC TO THE BORROWER FROM THE PROPERTY HOLDER. Please send me all the above documents by mail & courrier my address.JPEG,PDF,PNG Format can be taken via mail which must be very neat & clear. After getting all the documents it will take 15-25 working days to raise SKR/BG/SCR against the property. Email id-mizzlesadhana@gmail.com STEP 1:- CLIENTS NEEDS TO SUBMIT PHOTOCOPY OF ALL NEEDED DOCUMENTS, ANY VERBIAGE OF SWIFT CODE AS PER CLIENT REQUIREMENT.ALONG WITH THE CONSULTANCY CHARGES.WE WILL GET APPROVAL FROM THE BANK[SWIFT] STEP 2:- FPA WILL BE SIGNED ALONG. AS PER MY BANKER'S,BANKERS UNDERTABLE CHARGES CLIENTS NEEDS TO PAY THEM IN ANY OF MY SAID DESIGNATED BANK ACCOUNT.FPA CHARGES TO BE DEPOSITED WHEN I WILL CONFIRM THE CLIENTS. STEP 3:- SEARCH & VERIFICATION WILL BE DONE OF THE COLLATERAL/PROPERTY (after the full submission of documents).CLIENT NEEDS TO OPEN CURRENT A/C[we will assist] IN HIS/HER COMPANY NAME[OPENING AMOUNT OF CURRENT A/C WILL BE 1 LAC] AND DEPOSIT 1.75%-3%+0.25%-0.40%[CAN BE CONFIRMED AFTER BANKERS SEE THE FULL PAPERS] .WE WILL HANDLE THE NEW ACCOUNT AS WE NEED TO DEPOSIT THE CHARGES[UNDERTABLE EXCLUDED] TO BANK OFFICIALS TIME BY TIME. STEP 4:- ON THE DAY OF DISBURSEMENT OF BANK INSTRUMENTS, CHARGES WILL BE DEDUCTED ON THAT SAME DAY ITSELF AS PER AGREEMENT MOU & FPA. NOTE- Service charges 5% of SKR amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI
SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL SBLC (Standby Letter of Credit) Services Application for Standby Letter of Credit - Terms and Conditions In consideration of you, your correspondent bank or your overseas branch agreeing to issue or issuing on our behalf or for our account and on behalf of the third party referred to overleaf a Standby Letter of Credit (“SBLC”) in favour of the Beneficiary according to the details overleaf, we agree to the following terms and conditions:- 1. • All references in this Agreement and Indemnity to “SBLC” include any fresh or renewed Standby Letter of Credit which we request you, your correspondent bank or your overseas branch to issue in replacement of a Standby Letter of Credit issued by you, your correspondent bank or your overseas branch; • All references in this Agreement and Indemnity to “Counter-Guarantee” shall include any Counter-Guarantee/Counter Letter of Indemnity/Counter Standby Letter of Credit issued or to be issued by you to your correspondent bank or overseas branch in respect or furtherance of any “SBLC” (as defined above) issued or to be issued by such correspondent bank or overseas branch, as well as any fresh or renewed Counter- Guarantee/Counter Letter of Indemnity/Counter Standby Letter of Credit given or to be given by you in replacement thereof.
2. • Clause as 3 set out below shall apply whether the SBLC is issued or renewed by you or your correspondent bank / overseas branch at our request. • Clause 4 as set out below shall apply in respect of any Counter-Guarantee issued / renewed or to be issued / renewed by you to your correspondent bank/overseas branch in furtherance of or consequential to our request or our request on behalf of the third party named overleaf to you to instruct your correspondent bank/overseas branch to issue / renew the SBLC. • All other Clauses set out below shall apply generally irrespective of whether the SBLC is issued / renewed by you or your correspondent bank, overseas branch, whether the SBLC is issued / renewed at our request for us or at our request and on behalf of the third party (named overleaf) and whether a Counter-Guarantee is issued / renewed by you to your correspondent bank or overseas branch in furtherance of or consequential to our request or our request on behalf of the third party (named overleaf) to you to instruct your correspondent bank or overseas branch to issue / renew the SBLC. 3. In consideration of your agreeing at our request to issue / renew the SBLC or at our request to sign and issue / renew for our account and on behalf of the third party named overleaf the SBLC or to instruct your correspondent bank or your overseas branch to issue / renew the SBLC either for our account or for our account on behalf of the third party named overleaf, we and our successors-in-title and assigns hereby agree and undertake to indemnify you, your successors and assigns and at all times to keep you, your successors and assigns fully and completely indemnified from and against all liabilities, claims and demands, actions and proceedings, losses, damages and expenses including but not limited to all legal costs on an indemnity basis which may be incurred by you and all bank charges, costs, disbursements, expenses and other liabilities of whatsoever nature or description which may be made, levied or taken or suffered by you in relation to or arising out of the SBLC issued / renewed or to be issued / renewed by you, your correspondent bank or your overseas branch. This indemnity shall extend to any substitute(s) for the SBLC and any amendments or modifications thereto and any letters or documents made supplemental thereto. 4. In consideration of your agreeing to sign and issue / renew a Counter-Guarantee to your correspondent bank or your overseas branch in furtherance of or consequential to or as security for the SBLC issued / renewed or to be issued / renewed by the said correspondent bank or overseas branch at your instructions and on our request or on our request, for our account and on behalf of the third party named overleaf, we, our successors-in-title and assigns hereby agree and undertake to indemnify you, your successors and assigns and at all times to keep you fully and completely indemnified from and against all liabilities, claims and demands, actions and proceedings, losses and expenses including but not limited to all legal costs on an indemnity basis which may be incurred by you and all bank charges, costs, disbursements, expenses and
other liabilities of whatsoever nature or description which may be made or taken or suffered by you in relation to or arising out of the Counter-Guarantee, issued or to be issued by you or the SBLC issued / renewed or to be issued / renewed by your correspondent bank/your overseas branch. This indemnity shall extend to any substitute(s) for the Counter-Guarantee and/or the SBLC and any amendments or modifications thereto and any letters or documents made supplemental thereto. 5. You, your correspondent bank or your overseas branch shall at all times be entitled to make any payment under the SBLC upon a request or demand by the Beneficiary and you shall at all times be entitled to make any payment under the Counter-Guarantee upon a request or demand by your correspondent bank or your overseas branch, without further investigation or enquiry and need not concern yourself/itself with the propriety of any such request or demand and it shall not be a defence to any demand made on us under this Agreement, nor shall any of our obligations hereunder be affected or impaired by the fact that you, your correspondent bank or your overseas branch were/was or might have been justified in refusing payment, in whole or in part, of the amount or amounts so requested or demanded on any grounds whatsoever. 6. We hereby irrevocably authorise and direct you/your correspondent bank/your overseas branch to make any payments and comply with any request or demand made to you, your correspondent bank or your overseas branch under the SBLC or Counter-Guarantee without any further reference to or further authority, confirmation or verification from us or the third party and whether or not we or the third party dispute such request or demand or you, your correspondent bank or your overseas branch have/has notice of any dispute relating to any contract between us or the third party and the Beneficiary and without enquiry into the justification for such payment or such request or demand or into the validity, genuineness or accuracy of any statement or certificate or other documents received by you, your correspondent bank or your overseas branch with respect to or in connection with or under the SBLC or Counter-Guarantee and any such request or demand shall be binding upon us and the third party and shall be accepted as conclusive evidence by us and the third party that you, your correspondent bank or your overseas branch were/was liable to make such payment or comply with such request or demand, as the case may be. 7. We shall forthwith on demand pay to you the full amount (without any set-off, deduction or counterclaim) which has been requested or demanded from you, your correspondent bank or your overseas branch by the Beneficiary (regardless of whether you, your correspondent bank or your overseas branch has made any payment to the Beneficiary) under and/or in connection with the SBLC or which has been requested or demanded from you by your correspondent bank/your overseas branch under and/or in connection with the Counter-Guarantee and any other payments payable by or incurred or paid by you, your correspondent bank or your overseas branch under and/or in connection with the SBLC and/or the Counter-Guarantee including without limitation
payments of any taxes levies duties or charges or any payments howsoever incurred to obtain a complete and unconditional release of your/your correspondent bank’s/your overseas branch’s obligations under and/or in connection with the SBLC or Counter-Guarantee together with interest thereon calculated in accordance with Clause 9 from the date of such request or demand on you, your correspondent bank or your overseas branch until the date of payment by us and all costs expenses charges and commissions at such rate as you may determine. 8. We shall not be released, relieved or discharged from any of our obligations under this Agreement nor shall any such obligations be prejudiced or affected by any reason, including without limitation that : • the SBLC or Counter-Guarantee or any provision thereof, the Beneficiary’s request or demand under the SBLC for payment, your correspondent bank’s/your overseas branch’s request or demand under the Counter-Guarantee for payment, any document accompanying the Beneficiary’s/your correspondent bank’s/your overseas branch’s request or demand for payment or any other document in connection with the SBLC or Counter-Guarantee is void, voidable or invalid or is not binding on or enforceable against us, you, your correspondent bank or your overseas branch, the Beneficiary or any party thereof for any reason whatsoever, whether known to you, your correspondent bank or your overseas branch or not, including, without limitation, illegality, disability, lack of authorisation or capacity, or lack of powers on the part of the members, officers or agents of ours, yours/your correspondent bank/your overseas branch, the Beneficiary or any other party or any failure by us, you, your correspondent bank or your overseas branch, the Beneficiary or any other party to comply with the laws or regulations in their respective countries; or • the Beneficiary’s request or demand for payment under the SBLC, your correspondent bank’s/your overseas branch’s request or demand under the Counter-Guarantee for payment, or any document accompanying such request or demand or any other document required in connection with the SBLC or Counter-Guarantee or any particulars stipulated, described or quantified in any such request or demand or documents is/are not in proper form, sufficient, accurate, genuine or legal; or • Any other cause or circumstance, foreseen or unforeseen affecting any transaction contemplated under the SBLC or Counter-Guarantee or any document in connection with the SBLC or Counter-Guarantee. • Any court injunction obtained against the Beneficiary of the SBLC, you, your correspondent bank or your overseas branch in connection with the SBLC. 9. For the purpose of Clause 7 above, we shall pay to you interest as well after as before judgment at such rate or rates and for such period or periods as you may determine. Such interest shall be payable forthwith to you. 10.
To secure all our obligations and/or liabilities hereunder, and also for any and all other obligations and/or liabilities, absolute or contingent, due or to become due which are now or may at any time hereafter be owing by us to you, we grant to you a continuing security interest in/pledge to you/assign to you all of our property in your/your correspondent bank’s/your overseas branch’s possession or control, deposits and credits maintained with you, your correspondent bank or your overseas branch, and all other property that now or hereafter secures our other obligations to you until such time as all the obligations and/or liabilities to you at any time existing under or pursuant to this Agreement, or any other obligations or liabilities incurred by us to you, now existing or hereafter arising, have been fully paid and discharged. All or any of such property and the proceeds thereof, coming into your/your correspondent bank’s/your overseas branch’s possession, may be held and disposed of by you, it being understood that the receipt by you, your correspondent bank or your overseas branch, at any time of other security of whatsoever nature, including cash, shall not be deemed a waiver of any of your rights or powers hereunder. 11. The issuance of the SBLC by you, your correspondent bank or your overseas branch is subject to your right to require a deposit or deposits of a sum or sums of moneys, cash cover or any other security from us on demand for prospective and contingent liabilities that you, your correspondent bank or your overseas branch may be exposed to from time to time under or in connection with the issuance of the SBLC or for any other reason for which you may think it advisable or necessary. 12. Our liabilities and obligations under this Agreement shall not be diminished or extinguished by any act, omission, default, matter or thing including without limitation any indulgence forbearance or extension of time granted by you, your correspondent bank or your overseas branch to us or to any other persons which would but for this Clause have discharged us (wholly or in part) or would have afforded us any legal or equitable defence to the full, prompt and complete performance of all the terms of this Agreement, including the due and punctual payment of all amounts that may become due to you hereunder and the final discharge of the indemnity contained herein. 13. All sums payable by us to you under this Agreement shall be paid (i) free of any present or future taxes, levies, duties, charges, fees or any restriction or condition, (ii) free and clear of and (except to the extent required by law) without any deduction or withholding on account of any tax and (iii) without deduction or withholding (except to the extent required by law) on account of any other amount, whether by way of set-off counterclaim or otherwise now or subsequently imposed by any country or any subdivision or taxing authority of or in such country or any federation or organization of which such country is a member. If any such payment shall be subject to any such tax or if we are required to make any such deduction or withholding, we shall pay as required and shall simultaneously pay to you such additional amount as may be necessary to enable you to receive, after all such payments, deductions and withholdings, a total amount equal to the full amount payable under this Agreement. If we shall make any such payment, deduction
or withholding we shall within 7 days forward to you an official receipt or other official documentation evidencing such payment or the payment of such deduction or withholding. As used in the Clause the term “tax” includes all levies, imposts, duties, charges, fees, deductions, withholdings, turnover tax, transaction tax, stamp tax and any restrictions or conditions resulting in a charge. 14. Our obligations under this Agreement shall survive the repayment of all or any moneys whether for principal, interest, default interest, fees or any other monies and liabilities due and payable by us to you hereunder and the termination of this Agreement. 15. Upon the non-performance or non-satisfaction of any obligations or liabilities (including the obligation to make payment) herein mentioned, or upon our failure forthwith, with or without notice, to furnish satisfactory additional collateral or to make payments on account as herein agreed, or to perform or comply with any of the other terms or provisions of this Agreement, or in the event of the Applicant’s death, failure in business, dissolution or termination of existence, or in case any petition in bankruptcy or for winding up or any application for receivership or judicial management should be filed by or against us, or any proceedings in bankruptcy or for winding up, or under any Acts relating to the relief of debtors, should be commenced for the relief or readjustment of any of our indebtedness, either through reorganisation, composition, restructuring, extension or otherwise, or if we should make an assignment for the benefit of creditors, or if a receiver of any of our property should be appointed at any time, or if any of our funds or other property which may be in or come into your/your correspondent bank’s/your overseas branch’s possession or control or that of any third party acting on your/your correspondent bank’s/your overseas branch’s behalf as aforesaid, should be attached or distrained or should be or become subject to any mandatory order of court or other legal process, then, or at any time after the happening of any such event, any or all of our aforesaid obligations and/or liabilities whether actual, contingent or prospective shall become due or mature immediately, without demand or notice. You shall also be entitled to demand that we obtain the issuance of substitute standby letter of credit, letter of guarantee or letter of indemnity from another financial institution or otherwise arrange for the prompt release by the Beneficiary of your/your correspondent bank’s/your overseas branch’s obligations under the SBLC and to pursue any other remedy available to you under this Agreement or otherwise. 16. Without prejudice to other provisions of this Agreement, you shall be entitled at your absolute discretion to debit, at any time and without prior notice to us, the current account or any other account of ours maintained with you, for any purpose including obtaining reimbursement, security or otherwise, for all or any moneys whether for principal, interest, default interest, fees or any other moneys and liabilities due and payable by us to you hereunder Provided Always that any such debiting shall not constitute nor be deemed to be a payment of any moneys to which it relates (except to the extent of any amount in credit in the said current account or other account
of ours with you) nor shall it be deemed a waiver of an event of default or any other default under this Agreement. 17. In addition to any lien, right of set-off or other right which you may have, you shall be entitled at any time and without notice to us to combine or consolidate all or any of our accounts with you anywhere in the Republic of Singapore or outside the Republic of Singapore or set-off or transfer any sum or sums standing to the credit of one or more of such accounts in or towards satisfaction of any of our obligations and liabilities to you on any other account or accounts whether in the Republic of Singapore or outside the Republic of Singapore or in any other respect whether such liabilities be actual or contingent, primary or collateral, several or joint, notwithstanding that the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency and you are hereby authorised to effect any necessary conversions at your own rate of exchange then prevailing and to charge us interest in connection therewith at such rate or rates and for such period or periods as you may deem fit. 18. You, your correspondent bank or your overseas branch shall not be liable to us for, and your right to reimbursement, indemnity, and any other payments under this Agreement shall not be impaired by : • any recommendation, or failure to recommend, the inclusion or exclusion of any particular term or wording in the SBLC or Counter-Guarantee; • honour of any demand under the SBLC or Counter-Guarantee that does not strictly comply with its terms; • any delay in paying the amount demanded from you, your correspondent bank or your overseas branch by the Beneficiary and/or any other person under and/or in connection with the SBLC or Counter-Guarantee 19. In the event of any change or modification with respect to the amount or duration of the SBLC, or any of the other terms or provision of the SBLC, this Agreement shall be binding upon us in all respects with regard to the SBLC so changed or modified, inclusive of any action taken by you, your correspondent bank or your overseas branch relative thereto. 20. In the event that we request and authorize you, your correspondent bank or your overseas branch to accept and act on our telephone and/or faxed instructions pertaining to any changes or modifications to the terms and conditions of the SBLC or the application for SBLC, we hereby undertake to mail to you the original letter (for confirmation purposes only) signed by our duly authorised officers within 7 working days after such instructions were given to you. Failure to confirm as aforesaid shall not affect the aforesaid request, authorisation and/or instructions.
21. In consideration of you, your correspondent bank or your overseas branch agreeing to act on our telephone and/or faxed instructions, we hereby undertakes to indemnify you, your correspondent bank or your overseas branch from and against all liabilities, claims, demands, actions, proceedings, losses, expenses and all other liabilities of whatsoever nature or description which may be suffered by you, your correspondent bank or your overseas branch in relation to you, your correspondent bank or your overseas branch acting on such authorisation and we hereby waive any rights, claims, actions or proceedings we may have against you, your correspondent bank or your overseas branch for any losses, expenses or liabilities we may suffer as a consequence of you, your correspondent bank or your overseas branch acting on such instructions. 22. We shall pay all legal fees (on an indemnity basis) and other costs and disbursements incurred in connection with demanding and enforcing payment of monies due hereunder, or otherwise howsoever in enforcing this Agreement or any of the covenants, undertakings, stipulations, terms, conditions or provisions of this Agreement. 23. You may assign or transfer this Agreement, or any instrument(s) evidencing all or any of the aforesaid obligations and/or liabilities and may deliver all or any of the property then held as security therefore, to the transferee(s), who shall thereupon become vested with all the powers and rights in respect thereto given to you herein or in the instrument(s) transferred and you shall thereafter be forever relieved and fully discharged from any liability or responsibility with respect thereto but you shall retain all rights and powers hereby given with respect to any and all instrument(s), rights or property not so transferred. 24. A demand for payment of moneys or any other demand or notice under this Agreement may be made by any officer employed by you, your correspondent bank or overseas branch or solicitors acting for you, your correspondent bank or your overseas branch by letter addressed to us and sent by post to or delivered to our address stated overleaf or by telex, facsimile or other electronic transmission to the numbers stated overleaf and any and every demand or notice shall be deemed to have been delivered, made or given on the date of dispatch notwithstanding that the letter may be returned through the post office undelivered or if sent by telex or facsimile transmission immediately after transmission thereof. 25. Any certificate, notification or demand given by you to us as to any rate of interest or any amount payable under or in connection with this Agreement shall in the absence of manifest error be final conclusive and binding on us.
26. In case any provision or part thereof in this Agreement shall be, or at any time shall become or deemed to be invalid, illegal or unenforceable in any respect under any law, such invalidity, illegality or unenforceability shall not in any way affect or impair any other provisions of this Agreement but this Agreement shall be construed as if such invalid or illegal or unenforceable provision or part thereof had never been contained herein. 27. We further agree that our liability aforesaid is irrevocable and shall remain in full force and effect until the liability under the SBLC and/or Counter-Guarantee given by you, your correspondent bank or your overseas branch is fully and unconditionally discharged to your or their satisfaction, notwithstanding any variation of the obligation underlying the SBLC and/or Counter-Guarantee, or any defect in or other restriction as to the enforceability of the obligation underlying the SBLC and/or Counter-Guarantee. 28. If under any applicable law or regulation, or pursuant to a judgement or order being made or registered against us or our bankruptcy or liquidation, or, without limitation, for any other reason, any payment under or in connection with this Agreement and Indemnity is made or fails to be satisfied in a currency (the “currency of payment”) other than the currency in which such payment is expressed to be due under or in connection with this Agreement and Indemnity (the “currency of obligation”) then, to the extent that the amount of such payment actually received by you, when converted into the currency of obligation, at the rate of exchange, falls short of the amount due under or in connection with this Agreement and Indemnity, we, as a separate and independent obligation, shall indemnify you and hold you harmless against the amount of such shortfall. For the purposes of this clause, “rate of exchange” means the rate at which you are able on or about the date of such payment to purchase, in accordance with your normal practice, the currency of obligation with the currency of payment and shall take into account (and we shall be liable for) any premium and other costs of exchange including any taxes or duties incurred by reason of any such exchange. 29. Where the format and text of the SBLC were supplied by us or the third party named overleaf, you, your correspondent bank or your overseas branch are under no responsibility or liability to us or the third party to ensure the accuracy, completeness of legality of the SBLC. We are fully aware of the contents of the SBLC and the consequences thereof and we agree that we would not at any time deny liability hereunder on the basis that you have a duty to advise and failed to do so. Where the translation of the SBLC is forwarded by us or the third party named overleaf to you, your correspondent bank or your overseas branch (whether translated by us or otherwise), we confirm that we shall bear the risk of such translation and shall at all times keep you, your correspondent bank or your overseas branch fully and completely indemnified from and against all liability, claims and demands, actions and proceeds, losses and expenses including but not
limited to all legal costs on an indemnity basis which may be incurred by you, your correspondent bank or your overseas branch and all bank charges, costs, disbursements, expenses and other liabilities of whatsoever nature or description which may be made or taken or suffered by you, your correspondent bank or your overseas branch in relation to or arising out of such translation. 30. For avoidance of doubt and subject to the proviso appearing below, it is the intention of the parties that any terms, interests, rights, benefits, defenses, exemptions or limitations in this Agreement and Indemnity shall not be enforceable by a third party including that named overleaf (save and except for a third party as defined below) against you pursuant to the Contract (Rights of Third Parties) Act of Singapore (“the Act”), provided always that nothing herein operates to prevent or limit your right to assign, novate, otherwise confer any benefit or interest in favour of any other party, apart from the Act. The terms, interests, rights and benefits referred to above shall include but are not confined to any banking facilities, advances, loans, financing or any other form of financial accommodation that you provide or may provide under this Agreement and Indemnity. Provided always that it shall be the intention of the parties that all defenses and limitations in this Agreement and Indemnity shall be enforceable by you, your successors in title or assigns, entities into or with which you may merge or consolidate, any entities formed as a result of acquisition, of or by you as well as your employees, sub-contractors and agents, all of whom or which shall be deemed as third parties for the purposes of the Contracts (Rights of Third Parties) Act of Singapore. For the purposes of this Act, consent of any of these parties is not required for any variation, rescission or termination of this Agreement and Indemnity. 31. We confirm that the issuance of the SBLC to the Beneficiary on behalf of the third party for our account is of commercial benefit to us and we acknowledge that the issuance of the SBLC is in reliance on our confirmation herein. We further confirm that we will not dispute the existence of such commercial benefit. 32. In the event that a SBLC is issued / renewed by your correspondent bank or your overseas branch against or with a Counter-Guarantee which you issue / renew in favour of your correspondent bank or your overseas branch, we agree that such a SBLC shall for the purposes of this Indemnity be deemed to be issued / renewed by you on our application and we remain liable to indemnify you in full and in accordance with the terms herein in respect of such SBLC, in the event of any judgment, finding or determination that the Counter-Guarantee issued / renewed by you in favour of your correspondent bank/your overseas branch is invalid. 33. For the avoidance of doubt, it shall be deemed good and sufficient consideration for you to issue / renew a Counter-Guarantee to your correspondent bank/your overseas branch in consideration of their issuing / renewing a SBLC at your instructions and on our request whether acting for
ourselves or the third party. For further avoidance of doubt, we agree that any Counter- Guarantee given by you to your correspondent bank/your overseas branch shall in all respects be considered valid and enforceable. 34. In the event the SBLC to be issued / renewed by you, your correspondent bank or your overseas branch and/or Counter-Guarantee to be issued / renewed by you to your correspondent bank/your overseas branch is subject to and is to be governed by the laws of a jurisdiction other than the Republic of Singapore and should a request or demand be subsequently made by the Beneficiary under the SBLC and/or by your correspondent bank/your overseas branch under the Counter-Guarantee, we agree and authorize you, your correspondent bank or your overseas branch to obtain at your/your correspondent bank’s/your overseas branch’s discretion, an opinion from legal counsel on the validity, legality and enforceability of the SBLC and/or Counter- Guarantee and all other legal matters relating to the SBLC, prior to you, your correspondent bank or your overseas branch making payment in accordance with the aforesaid request or demand. We further agree that we shall bear the entire cost of you, your correspondent bank or your overseas branch obtaining such an opinion and that we shall indemnify you, your correspondent bank or your overseas branch for any loss or expense whatsoever suffered you, your correspondent bank or your overseas branch due to any delay in the payment to the Beneficiary under the SBLC and/or to your correspondent bank/your overseas branch under the Counter- Guarantee caused by you, your correspondent bank or your overseas branch having to obtain such an opinion. 35. This Agreement and Indemnity shall be governed by and construed in accordance with the laws of Singapore. In the event of any proceedings or suits commenced against us arising out of or in connection with this SBLC, we agree to submit to the non-exclusive jurisdiction of the Courts of Singapore. Without prejudice to the foregoing, we undertake not to commence proceedings or suits against you in the courts of any other jurisdiction. In the event of any proceedings or suits commenced by us against you, we agree that Singapore Courts shall have exclusive jurisdiction in respect of any disputes arising out of or in connection with the SBLC. We agree to waive and do so waive any right vested on us by the laws of the jurisdiction in which we carry on business to challenge the validity or legality of any part of this provision. 36. In the event that the original SBLC which the bank has issued is returned without any accompanying letter or instructions, the Bank will determine in its sole discretion whether to treat the returned SBLC as indicating that it is no longer required by the beneficiary. We will treat your liabilities there under as conditionally discharged, subject to the Bank not receiving any further demands from the beneficiary under the SBLC by the latest date by which all demands in writing must be received by us, or upon our receipt of a letter purporting to be from the beneficiary or his bank, advising of release from our SBLC obligations, at which time your liabilities hereunder will be fully discharged. Should such demands be received before full discharge, your obligations
under this application form shall continue in full force and effect and the Bank reserves the right to exercise all its rights hereunder including its right of set-off as provided for in this application form, against any accounts you maintain with the Bank domestically or overseas. NOTE- Service charges 5% of SBLC amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL (Letter of Credit) Services Letter of Credit Required Documents Below are the most common documents required in an Import or Export Letter of Credit* and the definition of each document. Bill of Lading: A Bill of Lading is considered the most important document involved in a shipment of merchandise. An exporter receives a Bill of Lading when delivering the merchandise to the shipping company for transport to an importer. Order Bill of Lading: An Order Bill of Lading is a title document. Steamship companies issue one or more original Order Bills of Lading per shipment, which allows an importer to claim merchandise when it arrives. An exporter normally endorses the Bills of Lading "in blank," which means that they are not endorsed to a specific person or institution. The party possessing any one of the original Bills of Lading can take possession of the goods. Airway Bill of Lading (Straight Bill of Lading): This instrument does not convey title. Airline companies issue Straight Bills of Lading called Airway Bills. Since an Airway Bill is issued only in non-negotiable form, an exporter consigns it to a specific person or institution. A copy of the Airway Bill accompanies a shipment, and an exporter is given the original to present along with other required shipping documents. To take possession of the merchandise, a party to which the merchandise is consigned needs to present proper identification. Therefore, if the air shipment is consigned to a buyer, the seller might lose control of the merchandise before payment is made. To prevent this, an Airway Bill should be consigned to Bank. Commercial Invoice: A Commercial Invoice is a document that describes merchandise, as stated in the Letter of Credit, and lists the costs. An importer may agree to pay, in addition to the cost of the merchandise, charges involved in shipping the merchandise. The description of the
merchandise in the Commercial Invoice and the description of the merchandise in the Letter of Credit must be identical in every way. Insurance Policy: Issued by an underwriting institution, the Insurance Policy states that a specified party will be reimbursed an amount in the event merchandise is damaged or destroyed. An Insurance Policy generally covers accidental losses and covers voluntary losses when a cargo must be sacrificed to save a ship. For additional cost, losses caused by spoilage, war, civil disturbance, riots and other risks can be included in the coverage. Because commercial banks are not included in the shipping business per se, questions regarding types of coverage should be referred to a freight forwarder or a customs broker. There are other documents included in Letters of Credit and Documentary Collections not referenced above. Importers and exporters are encouraged to contact Bank to discuss a particular transaction and we will assist in determining if the documents will give rise to difficulties in negotiation of the documents. There are some universal requirements, including those listed below: DOCUMENT PREPARATION UNDER LETTERS OF CREDIT Document: THE LETTER OF CREDIT Ensure: • It is the correct referenced letter of credit • It is still valid (not expired/canceled) • The available balance in the letter of credit is sufficient to cover the value of the drawing • The documents required by the letter of credit are presented • No amendments or previous drawdown are in a questionable state Document: THE DRAFT OR BILL OF EXCHANGE Ensure: • The draft bears the correct letter of credit reference number • The draft has a current date • The signature and/or the name of the Drawer corresponds with the name of the Beneficiary • It is drawn on the drawee • the amount in figures and words correspond • the tenor is as required by the letter of credit • the name of the payee is identified • if it requires an endorsement it is properly endorsed • there are no restricted endorsements • it contains any necessary clauses as required by the letter of credit • the amount drawn does not exceed the balance available in the letter of credit • the value of the draft and the invoices correspond • it is not drawn “without recourse” unless authorized by the letter of credit Document: THE COMMERCIAL INVOICE OR TRADE INVOICE Ensure: • it is issued by the Beneficiary of the letter of credit
• Applicant (Buyer) is indicated as the invoiced party, unless otherwise stated in the letter of Credit • it is not titled “pro-forma” or “provisional” invoice • the description of the goods corresponds with the merchandise description in the letter of credit • no additional detrimental description of the goods appears that may question their condition or value • details of the goods, prices and terms as mentioned in the letter of credit are included in the invoice • any other information supplied in the invoice, such as marks, numbers, transportation information, etc., is consistent with that of the other documents • currency of the invoice is the same as that of the letter of credit • value of the invoice corresponds with the draft • value of the invoice does not exceed the available balance of the letter of credit • it covers complete shipment as required by the letter of credit (if partial shipments are not allowed) • If required by the letter of credit the invoice is signed, notarized, legalized, certified, etc. • the information relative to the shipment, packaging, weight, freight charges or other related transport charges corresponds with that appearing on the other documents • correct number of originals and copies are presented Document: CERTIFICATE OF ORIGIN (A document in which certification is made as to the country of origin of the merchandise.) Ensure: • it is a unique document and not combined with any other document • it is signed, notarized, legalized, etc. as required by the letter of credit • the data on it is consistent with that of the other documents • the country of origin is specified, and that it meets the requirements of the letter of credit Document: WEIGHT LIST / CERTIFICATE Ensure: • it is a unique document and not combined with any other document • it is signed if a certificate is called for, or as otherwise stated in the letter of credit • the data on it is consistent with that of the other documents Document: PACKING LIST (A list which shows number and kinds of packages being shipped, totals of gross, legal and net weights of the packages, and marks and numbers on the packages) Ensure: • it is a unique document and not combined with any other document • It corresponds with the requirements of the letter of credit. A detailed packing list requires a listing of the contents of each package, carton, etc. and other relevant information • data on it is consistent with that of the other documents Document: INSPECTION CERTIFICATE Ensure: • inspection firm nominated in the letter of credit, if any, issued the certificate, • it is signed n it complies with the inspection requirements of the letter of credit • it contains no detrimental statement as to the goods, specifications, quality, packaging, etc. unless authorized by the letter of credit Document: INSURANCE DOCUMENT
(Document issued by an insurance company, usually to order of shipper, under a marine policy and in cover of a particular shipment of merchandise.) Ensure: • policy/certificate/declaration/cover note, as required by the letter of credit, is presented • full set of the insurance documents issued is presented • it is issued and signed by the insurance company, the underwriter or their agents, and the insured, if so required by the insurance document • date of issuance or date from which cover is effective at the latest from the date of loading on board or dispatch or taking in charge of the goods, as the case may be • value of the goods insured is as required by the letter of credit or as defined in UCP 500 sub-Article 34(f) • it is issued in the same currency as the letter of credit, unless otherwise allowed in the letter of credit • goods description corresponds with that of the invoice • covers the merchandise from the designated port of embarkation or point of taking in charge to the port of discharge or point of delivery • covers the specified risks as stated in the letter of credit and that the risks are clearly defined • marks and numbers, etc. correspond with those of the transport document • if the insured named is other that the Confirming Bank, Issuing Bank or buyer, it bears the appropriate endorsement • all other information appearing on the document is consistent with that of the other documents • if any alteration is noted in the document it is properly authenticated Document: TRANSPORT DOCUMENT (A document which provides the terms of the contract between the shipper and the transportation company to move freight between stated points at a specified charge) Ensure: • full set of originals issued is presented, unless otherwise stated in the letter of credit • it is not a “charter party” transport document unless it is authorized in the letter of credit under UCP 500 Article 30 • name of the consignee is as required in the letter of credit • if the transport document requires endorsement it is appropriately endorsed • it bears the name of the shipper or his agent • the name and address, if any, of the notifying party is as required in the letter of credit • the description of the goods generally corresponds to the description of the foods as stated in the letter of credit, and that the marks and numbers as well as other specification, if any, are identical to those appearing on the other documents • the indication of freight prepaid or freight collect costs, as required by the terms of the letter of credit, appears on it • there are no clauses on the transport document that may render it “foul” or “unclean” OTHER MISCELLANEOUS DOCUMENTS Please note: • That when documents other than transport documents, insurance documents and commercial invoices are called for, the letter of credit should stipulate by whom such documents are to be issued and their wording or data content. In the absence of this information, banks will accept such documents as presented, provided that their data content is not inconsistent with any other stipulated document presented; • That when Letters of Credit require a document to issued as a “certificate,” the document must be signed.
Please note that this list is not exhaustive, but is offered as a general guide to help in the preparation and examination of documents that could be required by a letter of credit. This list is not to be construed as being other than solely for guidance and therefore, we highly recommend that you contact a Bank international banking product specialist or Bank's International Client Services department for further assistance and interpretation 3. Avoiding Discrepancies Below are some suggestions which may be helpful in eliminating delays and problems in the processing of letter of credit transactions DISCREPANCY CHECKLIST Upon receipt of a letter of credit advice, please ascertain whether: • The type of credit and all terms and conditions correspond to the sales contract • There are any unacceptable conditions • The documents can be prepared in the form required • The merchandise description and unit price conform to the sales contract • The amount of the credit is sufficient to cover all costs to be borne by the shipper under the terms of the contract The latest permissible shipping and expiration dates allow sufficient time for shipment and presentation of documents to the bank. • The points of shipment and destination conform to the sales contract • The insurance coverage corresponds to the terms of the sale • All names and addresses are shown correctly Some of the most common documentary discrepancies to avoid when presenting documents under a letter of credit are listed below: • LETTER OF CREDIT expired--documents presented after expiration date of the letter of credit • Late shipment--shipment made after latest allowable shipping date • Late presentation--documents presented more than 21 days after shipment (or as specified in the LETTER OF CREDIT) • LETTER OF CREDIT overdrawn--amount of drawing exceeds amount available under the letter of credit • Short shipment • Bill of exchanges (draft) drawn on incorrect party • Bill of exchanges (draft) payable on an indeterminable date • Merchandise description in invoice differs from that in the credit • “On board” notation on bill of lading not dated • Bill of lading showing incorrect consignee • Bill of lading shows port of loading and/or discharge other than ports specified in LETTER OF CREDIT • Bill of lading does not indicate whether freight is prepaid or payable at destination/collect Documents inconsistent with each other • Bill of lading, insurance certificate/policy and/or bill of exchange (draft) are not properly endorsed • Absence of signature, where required, on documents presented • Shipping terms (Ex-Factory, FAS, FOB, C&I, C&F, CIF) on invoices differ from those specified in the letter of credit • Set of documents presented under LETTER OF CREDIT incomplete • Bill of exchange (draft) drawn with incorrect tenor • Corrections on bill of lading or insurance certificate/policy not initialed
Please keep in mind that the negotiating bank’s ability to pay against documents submitted under a letter of credit depends entirely on the strict compliance of these documents with the terms and conditions of the credit and the provisions of the Uniform Customs and Practice for Documentary Credits. NOTE- Service charges 5% of LC amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Payment Gateway Account Services Documentation required- • Registration Certificate with sign & seal • MOA ( Memorandum of Association) with sign & seal • AOA ( Article of Association) with sign & seal • Registered Trust Deed with sign & seal • List of Trustees / Office bearers with sign & seal • Address proof of Trust with sign & seal • KYC of all the trustees associated with the trust with sign & seal • Form 12A ( Only for educational Trusts ) with sign & seal • Tax Exemption Certificate with sign & seal • True copy of Trust deed with sign & seal • Pan Card with sign & seal • Authorized signatory ID Proof + Address Proof + 2 Photo with sign & seal • Please carry 10 page letter Head and Trust stamp and cheque book Latest details on letter Head in following format:- Sl.No Name Address Photo NOTE- Service charges 5 Lac Cash deposit in
SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 12A Registration Services When NGO organization gets registered with Income Tax department, to claim tax exemption for their income, it gets the 12 A certification. From the Date of establishment of a nonprofit NGO organization like trust, society or nonprofit company, it should apply for registration with Income tax department to get 12A certificate. If delayed in applying for registration then the nonprofit NGO organization should submit Audit Reports for the past three years or as may be available. To get registered with Income tax department, Nonprofit NGO has to fill a form name FORM 10A and it have to produce to the Commissioner of Income Tax, Income Tax Department office where your NGO organization is location. If you’re NGO established in metropolitan cities like Delhi, Calcutta, Mumbai and Chennai, then you have to produce the FORM 10A to the Director of Income Tax (Exemption), Income tax department office. Before submitting FORM 10a, please make sure that you have received PAN CARD for your nonprofit NGO organization. When you produce the form 10A to the above Income tax department, you have also required enclosing the proofs and copies of the following. 1. Original basic documents of organization, which evidencing the creation of the NGO should be enclosed, like Trust deed / Bye laws / Rules and Regulations / Memorandum and Articles of Association as per the shape of the nonprofit NGO organization. 2. Two copies of the Accounts of Three previous years should be enclosed. Where the NGO was not in existence in any of three prior years, copies of the accounts of for minimum years may also be submitted. After you have produced the above FORM 10A either through registered post with acknowledgement due or directly in the Income Tax office, the department will over look your application for fitness towards registration. It may also monitor your organization directly in person to know the genuinely of your NGO organization.
The Income tax officers have the rights to grant or to refuse registration to your application. If the Income tax office gets satisfied with your proper documents and with the genuinely of your organization, then you will be certified. Even a 12a certified NGO organization, shall be rejected or cancel the grant by the Income tax department, if it feels your organization is not fit as per law at any time. Income Tax form 10A [See rule 17A] Application for registration of charitable or religious trust or Institution under section 12A (a) of the Income -tax Act, 1961 To, The Chief Commissioner of Income Tax, ................................. Sir, I, (your name……..), on behalf of (your organization name…………….) hereby apply for the registration of the said trust/institution under section 12A of the Income-tax Act, 1961. The following particulars are furnished herewith: 1. Name of the trust / institution in full [In block letters]: 2. Address: 3. Name(s) and address (es) of author(s)/ Founder: 4. Date of creation of the trust or Establishment of the institution: 5. Name(s) and address (es) of trustee(s) Manager: I also enclose the following documents: 1. (A) *Original / Certified copy of the instrument under which the trust/institution was created / established, together with a copy thereof. (B) *Original / Certified copy of document evidencing the creation of the trust or the establishment of the institution, together with a copy thereof. (The originals, if enclosed, will be returned). 2. Two copies of the accounts of the *trust / institution for the latest *one / two / three years. I undertake to communicate forthwith any alteration in the terms of the trust, or in the rules governing the institution, made at any time hereafter. Date:__________ Signature: Designation: Address: • Strike out whichever is not applicable. * Note: This is a model form, when you type in this form the number of pages may increase. After completion of this form perfectly please delete this sentence.
NOTE- Service charges 1 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 35AC/35AC 1&2/35 AC 1&3/35 AC CCB Registrations Services 35 AC Exemptions 35AC is Income Tax number for a Particular exclusive Project, Those who are all going to sponsor for the Project, they will get 100% Tax exception. So normally this 35AC is very Demand full among the Ngo’s. On behalf of your Organization, Help Ngo will prepare the Project Proposal not exceeding a Net Budget of 15,00,00,000/- (Rupees Fifteen Cr) for 35AC and submit to the Government of India and get the acknowledgement. To prepare the Project Proposal we have to spend lot of time and involve more. We have to complete the Project Proposal within the stipulated deadline of the Application. So we need 100% co-operation to prepare the Project Proposal. 35 AC Exemptions (1&2) (i)100% One hundred per cent deduction is allowed to donors for contribution(s) made to organizations approved under section 35(1) (ii) (such as scientific research institutes or a university, college, or other institution) specifically for “scientific research” and under section 35(1) (iii) specifically for “research in social science or statistical research.” 35 AC Exemptions (1&3) Donors giving under this section can claim up to 125% deductions; donations can be 100% of the taxable income, but donations must be made to projects approved under section 35(1)(iii). Only organizations undertaking research in social sciences or statistical research can be approved. NPO (Non-Profitable Organization) should apply in form 3CF and send it to the Central Board of Direct Taxes through CIT. The approval is not given for more than 3 years at a time. It can be renewed. The NGO needs to maintain separate accounts for the money so received. This does not mean separate cash or bank account but only a separate ledger. An Annual Return also needs to be filed. This deduction will be withdrawn in 2006.
35 AC Exemptions (CCB) Where donation is made to an association or institution, which has as its object the undertaking of any programmed of conservation of natural resources or a forestation, to be used for carrying out any programmed of conservation of natural resources or a forestation approved by the prescribed authority; or to such fund for a forestation as may be notified by the Central Government, then the donor shall be allowed a deduction of the amount of such 40 expenditure incurred. The prescribed authority (Secretary, Department of Environment, Govt. of India, New Delhi) shall not grant such approval for more than three years at a time. Under the Indian Income Tax law, it is mandatory for organizations to retain accounting records for 8 years from the end of the assessment year. Section 35AC of Income Tax Act, 1961 is the section which entitles an NGO to receive tax exempt donations. Section 35AC recognition of an NGO empowers it to pass on unlimited deduction to its donor i.e, 100% without any limit as against normal approval u/s 80G of Income Tax Act, 1961 entitles only 50% deduction An NGO approved under Section 35AC can easily mobilize foreign contributions as most of agencies abroad require 35AC recognition as pre condition for grant of foreign contribution to Indian organizations. Projects eligible to be notified under section 35AC are:- • Construction and maintenance of drinking water projects in rural areas and in urban slums including installation of pump-sets, digging of wells, tube-wells and laying of pipes for supply of drinking water; • Construction of dwelling units for the economically weaker sections; • Construction of school buildings primarily for children belonging to the economically weaker sections of the society; • Establishment and running of non-conventional and renewable source of energy systems; • Construction and maintenance of bridges, public highways and other roads; • Any other programmed for uplift of the rural poor or the urban slum dwellers, as the National Committee may consider fit for support; • Promotion of sports; • Pollution control; • Establishment and running of hospitals and medical facilities in rural areas, exclusively for women and children up to 12 years of age; • Encouraging the production of bacteria induced fertilizers; • Any programmed that promotes road safety, prevention of accidents and traffic awareness; • Construction of hostel accommodation for women or handicapped individuals or individuals who are of the age of sixty-five years or more; • Establishment and running of institutions for vocational education and training in rural areas or towns which consist of population of less than five lakhs; • Establishment and running of institutions imparting education in the field of engineering and medicine in rural areas or towns which consist of population of less than 5 lakhs; • Plantation of softwood on degraded non-forest land;
Requirements duly registered organization. Detailed Project for Charitable purposes*. Documents and information we need 1. Name, address and status of applicant, the district/ ward circle where assessed/PAN number. 2. Audited Balance Sheet, Profit& Loss Account or Income& Expenditure Account for the latest year and two preceding years. 3. Formation documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any. 4. Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organization but were managing the affairs of the association or institution during the 3 years preceding the date of application. 5. If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval granted. 6. Brief particulars of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old. 7. Such other information as the association or institution may like to place before the National Committee. 8. Signed Authority Letter Prescribed forms:- Form3CF-I Form 3CF-II Form3CF-I [See rules 5C and 5D] Application Form for approval under clause (ii) of sub-section (1) of section 35 of the Income- tax Act, 1961 in the case of a Scientific Research Association 1. (i) Name and address of the registered office of the Association. (ii) Enclose a copy of the Trust Deed/Deed of Registration/Memorandum and Articles of Association, and if the Association was approved earlier, furnish approval number and date of the latest notification [Please enclose a copy]. (iii) If approval was withdrawn in the past, mention reasons on account of which the Approval was withdrawn [Enclose a copy of the Order/Orders withdrawing approval/approvals]. (iv)Date from which approval is sought for. 2. Legal status of the Association: Whether Registered Society or Company or Others. (Enclose a copy of certificate of Registration/incorporation) 3. Object of the scientific research association. 4. (i) Address(es) of the research laboratory of the Association.
(ii) Year of establishment. (iii) Name and address of the Officer of the Association in-charge of the laboratory/ research facility. (iv)Total number of employees engaged in research activity carried on by the Association. 5. List of research facilities or assets owned by the Association: (i) Plant and machinery. (ii) Land and building along with cost of acquisition. (iii) Any other research facility/asset with cost of acquisition. 6. Research subjects and projects undertaken by the Association: (i) Research projects completed by the association during the last three years, if any. (ii) Research projects, which have been taken up during the year and research projects which are underway from the past years. (iii) Research papers published in any eminent national or International Research Journal. 7. Other scientific research related details: (i) New products, processes, methods, techniques developed. (ii) Improvements in the existing products, processes, methods, techniques. (iii) Products of import substitution. (iv) Patents filed, obtained, if any, and if so, in whose name? Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) Earnings from patents or registered trade marks, if any. 8. Enclose details of seminars, conferences, workshops and training courses, etc., conducted by the Association during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the Association. 9. Programmes contemplated for research in future and financial projections to meet the likely expenditure on such programmers. 10. (i) Sources of income of the Association (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle, if assessed to tax) (iii) When was the last return of income furnished? 11. Amounts received by the Scientific Research Association and actually applied for research by it during the last three years: Year Amounts received Amounts actually utilized for research out of the amounts at column (2) (1) (2) (3) Donation Grant Total 12. Attach a list of donors giving their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donors paying the sums in excess of fifty thousand rupees) 13. Enclose the copy of audited annual accounts of the association for the last three years. 14. Investments made out of the amounts not utilized for research during the year mentioned at item 10 above: (i) Fixed deposits with banks (ii) Fixed deposits with companies (iii) Government securities (iv) Shares Debentures, etc (v) Cash in hand (vi) Others, if any, not covered under (i) to (v) Certified that the above information is true to the best of my knowledge and belief Place. _______________ Date
_______________ Signature _______________ Designation Address ------------------- ANNEXURE To be furnished by a Scientific Research Association claiming exemption under section 10(21) Financial Year _______________ 1. Total income of the Association including voluntary contributions received during the year. 2. Amount of income referred to at item 1 above that has been or deemed to have been applied wholly and exclusively for the objects of the Association. 3. Amount accumulated for the objects of the Association. 4.(i) Details of modes in which the funds of the association are invested or deposited showing nature, value and income from such investments or deposits. (ii) Details of funds not invested in modes specified in section 11(5): Sl. No. Name & address of the concern In the case of a company – number and class of shares held Face value of investment Income from investment 5. (i) Is the association carrying on any business (give details)? (ii) Is the business incidental to the attainment of its object? (iii) Are separate books of account maintained in respect of such business? 6.Details regarding the nature, quantity and value of contributions (other than cash and the manner in which such contribution have been utilized). 7. Details of shares, security or other property purchased by or on behalf of the association from: (i) the founder of the association, (ii) any person who has made a contribution exceeding rupees one lakh to the association, (iii) any member of a Hindu undivided family where the Hindu undivided family is a founder, (iv) the manager (by whatever name called) of the association, (v) a relative of the founder, member or the manager, (vi) any concern in which any of the persons referred to in sub-items (i) to (v) has a substantial interest. 8.Whether any part of the income or any property of the association was used or applied, in a manner which results directly or indirectly in conferring any benefit, amenity or perquisite (whether converted into money or not) on any interested person. If so, the details thereof 9.Amount deemed to be income of the association by virtue of section 11(3), as applicable by the first proviso to section 10(21) Certified that the above information is true to the best of my knowledge and belief Place Date Signature Designation Full Address Form 3CF-II [See rules 5C and 5E] Application Form for approval under clause (ii) or clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 in the case of a University, College or other Institution 1. (i) Name and address of the registered office of the applicant. (ii) Enclose a copy of the Trust Deed/Deed of Registration/Memorandum and
Articles of Association, and if the university, college or other institution was approved earlier, furnish notification number and date of the latest notification. [Please enclose a copy] (iii) If approval was withdrawn in the past, mention reasons on account of which the approval was withdrawn. [Enclose a copy of the Order/Orders withdrawing approval/approvals] (iv) Date from which approval has been sought for. 2. Legal status of the Applicant: Whether Registered Society or Company or others. (Enclose a copy of certificate of registration/incorporation) 3. (i) Address(es) of the research laboratory/research facility of the applicant. (ii) Year of establishment. (iii) Name and address of the Officer in-charge of the Laboratory/research facility. (iv) Total number of employees engaged in scientific, social or statistical research. 4. List of research facilities or assets acquired by the applicant: (i) Plant and machinery. (ii) Land and building along with cost of acquisition. (iii) Any other research facility/asset along with cost of acquisition. 5. Research subjects and projects undertaken by the applicant: (i) Research projects completed by the organization during last three years, if any. (ii) Research projects which have been taken up during the year and research projects which are underway from the past years. (iii) Research papers published in any eminent national or international research journal. 6. Other details of scientific research or research in social science or statistical research (i) New products, processes, methods, techniques developed. (ii) Improvements in existing products, processes, methods, techniques. (iii) Import substitution. (iv) Patents filed: obtained, if any, and if so, in whose name? Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) New theories/models developed. (vii) New hypothesis which has been widely accepted. (viii) Any copyrights applied for/obtained. (ix) Earnings from patents or registered trade marks, if any. 7. Enclose details of seminars, conferences, workshops, and training courses, etc., conducted by the applicant during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the applicant. 8. Programmers contemplated for research in future and financial projections to meet the likely expenditure on such programmers. 9. (i) Sources of income of the applicant (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle if assessed to tax) (iii) When was the last return of income furnished? 10. Amount received by the scientific research association, university, college or other institution and actually applied for research conducted by it or its faculty members or enrolled students during the last three years: Year Amounts received Amount actually utilized for research out of the amounts at column (2) Donation Grant Total 11. Attach a list of donors giving (their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donors giving sums exceeding fifty thousand rupees) 12. Investments made out of amounts mentioned at 10 above: (i) Fixed deposits with banks (ii) Fixed deposits with companies (iii) Securities (iv) Shares, Debentures, etc.
(v) Cash in hand (vi) Others, if any, not covered under (i) to (v) 13. Enclose copy of audited annual accounts of the university, college or other institution for the last three years. Certified that the above information is true to the best of my knowledge and belief Place Date Signature Designation Full Address NOTE- Service charges 10 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 80 G Registration Services When the nonprofit NGO organizations have registered with income tax department by getting 12A certificate, it shall start to get 80 g certificate. The main role of 80 g certification is to encourage the donors who donate funds to the nonprofit NGO organization. That is organization hold this 80 g certificate to provide tax exemption to the donors who donate their funds and they will get 10% tax exemption on their Gross total income of an accounting year. Here people are thinking that they will get 50% of tax exemption before the calculation of their taxable Annual Income. But its is not in such a way. 50% of amount is calculated in the amount what they have donated to the nonprofit NGO organization. And in that 50% of that donated amount, the donor shall get 10% of maximum tax exemption as per Gross total income of the Donor. To know how the donations of the donors are exempted under section 80 g Now let us see, How to apply for 80 g?. What are the steps to be taken by nonprofit NGO organizations to get this 80 g certificate from Income tax department? To get the 80 g certificate nonprofit NGO organization have to fill the FORM 10G and they have to attach the activity report for the past 3 years or the least year with the audited report right from the date of establishment or of the past 3 years. You can download the editable FORM 10G to get registered for 80 g approval from income tax department. This process may take several months, to receive the approvals.
When you apply for 80 g you shall check yourself for the fitness of 80 g approval under the following factors. • If nonprofit NGO organization is under going with any business, then they have to maintain a separate account and should not mix the donations they receive for social cause. • Other than charitable cause the organization or its byelaw should not represent any other causes towards spending of such donation amounts or the assets and incomes of the nonprofit NGO organization. • The nonprofit NGO organization shall not be able to apply for 80 g if it supports religion based, caste and creeds based activity. • The nonprofit NGO organization should have the qualification of registration which might have been registered under Societies registration act 1860 or registered under section 25 of Companies act 1956. • Proper annual returns, accounting, book keeping should be in manner before applying for 80 g. • If you have already received the 80 g certificate, then proper renewal is must to hold such tax benefits. Income tax department has the power to approve or reject such approval upon disqualification of the nonprofit organization or dissatisfaction found by the department towards the nonprofit NGO organization activities. Documents required for registration u/s 12A AND 80G: • Dully filled in Form - 10A for registration u/s 12A registration; • Dully filled in Form - 10G for registration u/s 80G registration; • Registration Certificate and MOA /Trust Deed (two copies - self attested by NGO head); • NOC from Landlord (where registered office is situated); • Copy of PAN card of NGO; • Electricity Bill / House tax Receipt /Water Bill (photocopy); • Evidence of welfare activities carried out & Progress Report since inception or last 3 years; • Books of Accounts, Balance Sheet & ITR (if any), since inception or last 3years; • List of donors along with their address and PAN; • List of governing body I board of trustees members with their contact details; • Original RC and MOA /Trust Deed for verification; • Authority letter in favor of NGO Factory; • Any other document I affidavit / undertaking I information asked by the Income Tax department FORM NO. 10G [See rule 11AA] Application for grant of approval or continuance thereof to institution or fund under section 80G (5)(vi) of the Income-tax Act, 1961 1. Name of the institution/fund in full (in block letters)
2. Address of the registered office of the institution/fund 3. Legal status [please specify whether the institution/fund is- • constituted as public charitable trust; • Registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India; • Registered under section 25 of the Companies Act, 1956 (1 of 1956); • A University established by law; • Any other educational institution recognized by the Government or by any University established by law or affiliated to any University established by law; • An institution wholly or partly financed by the Government or a local authority; • An institution established with the object of controlling, supervising, regulating or encouraging games or sports and is approved for this purpose under section 10(23); or • A Regimental Fund or Non-Public Fund established by the armed forces of the Union for the welfare of past or present members of such forces or their dependants.] 4. Objects of the institution/fund and geographical area over which its activities are undertaken 5. Names and addresses of trustees/office bearers of the institution or fund 6. (i) If registered under section 12A(a) of the Income-tax Act, the registration number and date of registration (ii) If notified under section 10(23) or under section 10(23C) of the Income-tax Act, the details thereof (iii) If responses to (i) & (ii) are negative, whether any application for the same has been filed? If yes, enclose a copy of the same. 7. (a) Period of last approval, if any. Please enclose a copy of the approval (b) If any change in the aims and objects and the rules and regulations have been made since the last approval, the details thereof 8. Assessment particulars- (a) Ward/Circle where assessed and permanent account number/GIR number (b) Is the income exempt under section 10(22), 10(22A), 10(23), 10(23AA), 10(23C) or 11? (c) Whether any arrears of taxes are outstanding? If so, give reasons 9. Amount accumulated for the purposes mentioned in item (4) above 10. (i) Details of modes in which the funds are invested or deposited, showing the nature, value and income from the investment; (ii) Whether any funds have not been invested in the modes specified Printed from www.taxmann.com in section 11(5)? 11. (i) Is the institution/fund carrying on any business? If yes, give details (ii) Is the business incidental to the attainment of its objects? 12. Details of nature, quantity and value of contributions (other than cash) and the manner in which such contributions have been utilized.
13. Details of shares, security or other property purchased by or on behalf of the trust from any interested person as specified in sub-section (3) of section 13. 14. Whether any part of the income or any property of the association was used or applied in a manner which results directly or indirectly in conferring any benefit, amenity or perquisite (whether converted into Money or not), on any interested person as specified in sub-section (3) of section 13 ? If so, details thereof I certify that information furnished above is true to the best of my knowledge and belief. I undertake to Communicate forthwith any alteration in the terms or in the rules governing the institution/fund made at any Time hereafter Place Date Signature Designation Address Notes The application form (in triplicate) should be sent to the Commissioner of Income-tax having Jurisdiction over the institution or fund along with the following documents: (i) Copy of registration granted under section 12A or copy of notification issued under section 10(23) or section 10(23C). (ii) Notes on activities of institution or fund since its inception or during the last three years, whichever is less. (iii) Copies of accounts of the institution or fund since its inception or during the last three years, whichever is less. NOTE- Service charges 1 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844
08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Car Loan Services Applicant Details for salaried person • Where do you live currently? • Name of your company • Gross Monthly Salary • Where is your salary account? • Make/model (optional) • Mobile • Your Name • Email (optional) • When did you move to current city? • Residence type • When did you move to current residence? • Date of Birth • Joining date with current employer • Your Total Work Experience • Average monthly incentives (optional) • Total EMIs you currently pay per month (if any) • First Name • Last Name • Gender • Date of Birth • Mobile • Permanent Address
• Pin code • PAN • Personal Email • Co-borrower Details • Name • Gender • Date of Birth • Mobile • Personal Email • Employer • Designation • Employer Type • PAN • Is the car new or second-hand? • How will the car be used? • Will you register your car in AHMEDABAD? • Ever defaulted on any loan or credit card? • Had loan application declined in last month? Applicant Details for self employed • Where do you live currently? • When did you move to current city? • Residence type • When did you move to current residence? • Date of Birth • Type of employment • Industry Type • Start date for current business/profession • Choose option that best describes the applicant • Latest years monthly take-home salary • Latest year Gross Total Income • Was latest ITR audited? • Total EMIs you currently pay per month (if any) • Mobile • Name • Reference ID (if any) • Email (optional) List of supporting documents- Proof of Signature Passport (copy), Driving License (copy), Signature verification letter from bank, PAN Card (copy) Proof of Employment Shops and establishments license, ITR (last 2 years), Excise Registration certificate, VAT/Service Tax registration, Sales Tax Registration certificate Proof of Identity Passport (copy), Driving License (copy), PAN Card (copy), Voter ID Card Proof of Income Latest two years Income Tax Return, Computation of income, Profit & Loss A/c & Balance Sheet with Schedules Proof of Address House Electricity Bill (latest), Passport (copy), Telephone Bill (latest), House Water Bill (latest), Postpaid Mobile Bill (latest), Employer Issued Letter Certifying Address, Registered Lease Agreement
Proof of Age Passport (copy), SSC mark sheet, Driving License (copy), School Leaving Certificate, PAN Card (copy), Birth Certificate (copy) NOTE- Service charges 5% of loan amount after disbursement of loan Application submission fees-5000/- INR Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL FCRA Donation Services NGO Funding Guidelines I am pleased to inform that; Mizzle Overseas Loan Services is the consortium Funding Agency Partner for development projects. Provide Overseas Funding: Following are the types of grants/Sectors $50,000 USD to $5 Million USD, currently available: Grants: Technical Assistance* To support project that will cover two priority areas; *namely, Improving screening programs for breast and cervical cancer, and, building national radiotherapy capacity for cancer treatment To support School Water Sanitation and Hygiene program children from improved health and hygiene practices. Grants: Research* To support a small-scale, livelihood-oriented bio-energy pilot project that aims at promoting sustainable natural energy resource development to rural communities in India.
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES
MCL MIZZLE CONSULTANCY LENDING SERVICES

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MCL MIZZLE CONSULTANCY LENDING SERVICES

  • 1. MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Consultancy Services We organize funds for the following sectors • Home Loan • Plot Loan • Mortgage Loan • Education Loan • Project Loan • Joint venture for infrastructure company (minimum 100 cr & above) • Joint venture for hospitals (minimum 100 cr & above) • Equipment leasing and financing, Infrastructure, Energy, Road Transport, Oil & Gas Industries • Trade Finance Services i.e. BG, LC, SBLC, MTN (for Export & Import) • Auto Mobile Industries • Food Processing Industries • Education (Engineering & Medical College) • Worldwide Hospital and Health Care and Star Hotels • Software & hardware, Telecommunication Projects • Manufacturing / Production Industries • Vendor Finance • Gateway Donation • FCRA Donation • 80G Donation • 12A Donation • 35AC Donation • 35AC (1&2) Donation • 35AC (1&3) Donation • Overseas Joint Venture Services (minimum 100 Cr & above) • Registrations of Multi State Co-operative Society • Open 1st Party Payment Gateway Account • 35 AC Registrations Services • 35 AC 1&2 Registrations Services • 35 AC 1&3 Registrations Services • 80 G Registrations Services • 12 A Registrations Services • 10 (23C) Registrations Services • Registration of NBFC Company • Website Designing • Registration of Private Limited Company • Registration of Limited Company • Registration of Section 25 Company • NGO Registration State Level • NGO Registration Allover India Level
  • 2. • Non Profit Company • NPO • ISO for NGO • ISO Registration • FCRA Registration • Permanent FCRA • Prior Permission • Amendments • Project Report Development • Project Report Preparation • Project Proposal Preparation • Utilization Certificate • Event / Visit Report • NGO Profile • Evaluation Report • Survey • Research Report • Planning • Policy Document • Concept Note • Feasibility Report Development • Deeds • Rules & Regulation • Leaflet • Booklet • Format Development • Legal Advice • NGO Grants • NGO Funds • NGO Donations • Government Schemes • Private Sector Schemes • Corporate Sector Scheme • International Schemes • Government Policies • Logo • Letter Head • Visiting Card • Envelop • File & Folders • Browser • Website Development • Static Website • Dynamic Website • Flash Website • Dental College • Medical college
  • 3. • Research centre • AYURVEDIC College • Homeopathic and Biochemistry college • Polytechnic Colleges • Engineering Colleges • Physical Education Colleges • LAW Colleges • College of Social science • Institute of Mass Communication • Science College • Arts and Commerce College • Hotel Management and Catering Technology College • Social Work College • Mass Communication College • Bachelor of Education (B.Ed.) College • AVIATION / FASHION / Interior Designing College • MBA College • Hospitality College • Life Sciences College • Architecture College • Bachelor of Science College • Bachelor of Computer Science College • Bachelor of Science (Information Tech.) College • Project Preparation & Application Submission • For Nation/ Domestic Grant Service • Foreign Contribution and Regulation Act (FCRA) Registration • LLP Registration • VAT Registration • Digital Signature for IT & MCA • Class 3 Digital Signature for e-Tender • PAN Card • TAN No • DIN/DPIN Application • Service Tax Registration • Apply for Import & Export Code • Shop & Establishment Registration • Trade mark registration • Producer Company • NIDHI Company • Chit Fund Company • Foreign company registration • Offshore company • Ready made company • Winding up / Closure of a company • Company registration guidelines • Company seal • Minute book
  • 4. • Share certificates • Renew your DSC • Reprint of MOA & AOA • Get a hard copy of company incorporation certificate • Obtain a digital signature certificate (DSC) • Virtual office services • Nominee director services • Opening a bank account • Keep registered office at our address • Providing accountant on our roll • Providing staff on our payroll • Provident Fund (PF) • Employees State Insurance (ESI) • Patent & Copyright • ISO & ISI Certifications • Book Keeping & Accounting Services • Auditing & Assurance Services • Due Diligence & Sanity Check • Transfer Pricing (TP Study) • Drafting of Agreements • Company Law Matters • ROC Compliance • Income Tax • Service Tax • Professional Tax • XBRL Filing • NRI Matters • ISO 9001:2008 • ISO 14001:2004 • ISO 18000 • ISO 13485 • CE Mark • FSSAI, SSI • Trade Mark • BAR Code • HACCP • ISO 22000 • ISO/TS 16949 • SA 8000 • CMMI Call 09235103839 08090227844 08423616634 09670087461 09696386296
  • 5. MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Loan Services • Loan 10 CR TO 1000 CR (Rate of Interest 3% to 15% per annum) • Loan application submission fees-1 Lac • Service charges-5% to 10% CORPORATE / BUSINESS FINANCING OVERVIEW • Brief description of the nature of the project and its location. (Kindly attach Location Map) • Brief background on principals describing their experience • How much capital have the principals put into the project to date and specifically how were those funds allocated? • How much capital can the principals put into the project going forward? • Is the land on which the project is to be constructed currently owned by the principals? • What is the current “as is” value and/or purchase price of the land? • Are there any encumbrances against the land? Yes ______ No _______ • If there are encumbrances on the land for what amount? $_______________ • Do the principals have all necessary state, city and other government approvals/permits already in place? Please attach copy of all approvals/permits • Are there any contracts in place for the services or products to be supplied in place? If, not when are they expected? If Yes, Please attach copy. • What is the estimated completion value of the project? • How much financing is being requested? • Total Project Costs and specific breakdown of how these funds will be used:
  • 6. • Please attach the Financial Projections. • We need a projection showing the anticipated annual revenue and net income for the project for loan period. (Please attach the Financial Projection) • We need a current balance sheet showing how the borrowing entity is currently capitalized. If the borrower is not a company then a personal financial statement will suffice. • Credit Scores of principal(s) _______ _______ _______ _______ _______ _______ • Principals Names: • Address: • Telephone Number: • Cell Number: • Fax Number: • E-mail Address: • Website: Documentation Needed: • Request Letter (on letterhead of the Company) to manage fund for this project, and appointment of mizzle as Financial Consultant for this Project. • Principle’s Resume (all officers and directors) • Current appraisal • Business plan, Executive Summary • Current financial statements (project’s & sponsor’s) • Project income/expense data • Plans, permits, authorizations, approvals, PPAs • All legal Documents of the Company including ROC, PAN CARD, Tax Return Statements, Balance sheet last three year • Detail of Loan taken on Companies Account, if Any • Latest DPR (All Volume) • Project Feasibility Study Report • Latest updated cost (If updated) • Tariff calculation Details (If Required) • Interstate Agreement (If Required) Business Plan • [Name of the company] • [Date] • TABLE OF CONTENTS • EXECUTIVE SUMMARY
  • 7. • BUSINESS OVERVIEW • The problem • The idea • Organization’s history • Mission, vision and business model • Value proposition • INVESTMENT RATIONALE • Funding request • Output and impact • MARKET AND COMPETITION ANALYSIS • Value chain overview • Market size • Competition • MARKETING PLAN • Product • Price • Place • Promotion • ORGANIZATION • Organizational structure • Geographic presence • MANAGEMENT • Management team • Shareholders • OPERATIONS • PROJECT EXECUTION • FINANCIAL PLAN • Proposed funding structure • Financial plan • RISK ANALYSIS AND MITIGATION • APPENDICES • Appendix A: Resume for key staff • Appendix B: Revenue and Cost Assumptions • Appendix C: Detailed Financials NOTE- • Service charges 5% to 10% of loan amount after disbursement • Loan Application submission fees-1 LAC Cash deposit in • SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI
  • 8. • SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI • SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Referring Loan cases & Get Rewards Cars Referring 10 Cr loan cases Reward- HYUNDAI i10 (5 Lac) Referring 25 Cr loan cases Reward- HYUNDAI VERNA CAR (10 Lac) Referring 50 Cr loan cases
  • 9. Reward- AUDI A3 CAR (25 LAC) Referring 100 Cr loan cases Reward- AUDI Q7 CAR (50 LAC) Interested person please send your all details- PERSONAL INFORMATION Name Date of Birth Nominee name & Relation Nominee date of birth Address with pin code Mobile Email Pan no BANK DETAIL Bank account no Bank name IFSC Code Bank branch name SOFT COPY OF DOCUMENTS Photo Pan card with sign Voter id with sign
  • 10. Cancelled cheque with sign Please send Soft copy of documents on-mizzlesadhana@gmail.com MCL CONTACT NO 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Donation Services Gateway Donation FCRA Donation 80G Donation 12A Donation 35AC Donation 35AC (1&2) Donation 35AC (1&3) Donation Please Send Detail for Donations • NGO Details • Name of VO/NGO • Name of Chief Functionary • Name of Chairman • Name of Secretary • Name of Treasurer • Do you want to add members? • Umbrella/Parent Organization • First Registration Details • Registered with • Type of VO/NGO • City of registration • State of registration • Date of registration (DD-MM-YYYY)
  • 11. • Valid up to (DD-MM-YYYY) • Registration No • Copy of Registration Certificate 35 AC + F C R A (Only PDF/JPG files are allowed. Max size 2 MB) • Multiple Registrations Details if any • Do you want to add more registration? • FCRA Registration details • FCRA Registration no. if any • 35 AC Registration details • 35 AC Registration no. if any • Date of Registration 35 AC + F C R A (DD-MM-YYYY) • Valid up to (DD-MM-YYYY) • Sector/ Key Issues • Select issues you are working on (Multiple selection is possible using Ctrl key) • Select operational area- states (Multiple selection is possible using Ctrl key) • Details of Achievements • Major Activities/ Achievements (Not more than 500 words) • Contact Details • Complete Address along with Pin code • City • State • District • E-mail (Please enter valid Email Id, It will be required to activate your account) • Website URL of NGO • Telephone • Fax Self Declaration I hereby declare and affirm that the information provided by me is true and correct to the best of my knowledge and belief and that this VO/NGO has not signed up earlier. I am solely responsible for updating / correcting any changes in the above information Document Required- • Letter to the RBI (Hand Written) • Request letter to the Donor (Hand Written)
  • 12. • Willingness letter (Hand Written) • Detail of the society • List of governing body members • Title page • Organization certificate • Registration renewal certificate of the trust • Memorandum & the article of association of trust • Pan Card • Details of the trust bank account • Resolution of the trust to appoint the auditor for five years • Letter of appointment of the auditor for five years • Conformation of the auditor accepting the letter of appointment • TDS Certificate • Staff list • List of governing body along with their addresses • Witness letter in the favor of the society • Appreciation letters of the society • Nul & Void letter • Authorization letter (Hand Written) • Executive summary of the project and cost • Bank verification letter • Signature verification letter authorized signatory of the bank • Gazette notification of 35 [1][2] mentioning in the name of the trust • Valid 12A certificate • Valid 80G exemption certificate • Annual report of the trust [last 3 year] • Project report with cost • Form 56 parts 3 {as submitted to the income tax department} • Income tax return of the trust {last 3 years} • Declaration of the trust for non receipt of anonymous funds • SIRO Certificate • Last 3 years FCRA Account of the trust {FC3} • CBDT Clearance of the proposed project {separate binding} Normal time taken for sanction of grant Assuming that all requisite documents is available and up-to-date, and that funds are available under the schemes, the processing and final sanction of grant takes 3 to 4 months. NOTE- Service charges 10% of donation amount after disbursement Application submission fees-1 LAC Cash deposit in
  • 13. • SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI • SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI • SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL SKR (Safe Keeping Receipt) Services Regarding issuing SKR/BG/SCR of clients I need the following documents:- • Identity Proof & Address Proof (Property Holders) • Borrower’s Company Info (such as ROC, Certificate of Incorporation, Pan Card Photo Copy, Article of Memorandum, Last 12 Months Current A/c Statement of Company, Income Tax Paper of past 2-3 years, Vat Registration Certificate.) • Property Deeds of Property Holder at present. • EC of past 35 Years • Tax Receipt photo copy of last 3-5years. • Affidavit of Non-Encumbrance • Govt Recognized Valuer Valuation Report(Must not be 18months older of today’s date) with full details. • Gold Search Report if any. • Search Certificate from High Court Advocate. Board Resolution Copy I need the following to proceed further: • Authorization Letter For Issuing The Bank Instrument & Discounting or Monetizing The Same- must be notarized in 100rs stamp paper.(format attached). • Authorization For Verification-True Copy (must be notarized). • Legal Opinion From High Court/Bank Approved Lawyer. • Affidavit of Non-Encumbrance
  • 14. • Letter of Confirmation (must be notarized in client's letter head). RBI/Bank Approved Project (project report along with projected balance sheet-must be made by any renowned ca) KYC & MOA. KINDLY NOTE DOWN THAT IF THE PROPERTY WHICH WILL GOING TO BE RAISED AS SKR BELONG TO ANY THIRD PARTY THEN I NEED THE NOC TO THE BORROWER FROM THE PROPERTY HOLDER. Please send me all the above documents by mail & courrier my address.JPEG,PDF,PNG Format can be taken via mail which must be very neat & clear. After getting all the documents it will take 15-25 working days to raise SKR/BG/SCR against the property. Email id-mizzlesadhana@gmail.com STEP 1:- CLIENTS NEEDS TO SUBMIT PHOTOCOPY OF ALL NEEDED DOCUMENTS, ANY VERBIAGE OF SWIFT CODE AS PER CLIENT REQUIREMENT.ALONG WITH THE CONSULTANCY CHARGES.WE WILL GET APPROVAL FROM THE BANK[SWIFT] STEP 2:- FPA WILL BE SIGNED ALONG. AS PER MY BANKER'S,BANKERS UNDERTABLE CHARGES CLIENTS NEEDS TO PAY THEM IN ANY OF MY SAID DESIGNATED BANK ACCOUNT.FPA CHARGES TO BE DEPOSITED WHEN I WILL CONFIRM THE CLIENTS. STEP 3:- SEARCH & VERIFICATION WILL BE DONE OF THE COLLATERAL/PROPERTY (after the full submission of documents).CLIENT NEEDS TO OPEN CURRENT A/C[we will assist] IN HIS/HER COMPANY NAME[OPENING AMOUNT OF CURRENT A/C WILL BE 1 LAC] AND DEPOSIT 1.75%-3%+0.25%-0.40%[CAN BE CONFIRMED AFTER BANKERS SEE THE FULL PAPERS] .WE WILL HANDLE THE NEW ACCOUNT AS WE NEED TO DEPOSIT THE CHARGES[UNDERTABLE EXCLUDED] TO BANK OFFICIALS TIME BY TIME. STEP 4:- ON THE DAY OF DISBURSEMENT OF BANK INSTRUMENTS, CHARGES WILL BE DEDUCTED ON THAT SAME DAY ITSELF AS PER AGREEMENT MOU & FPA. NOTE- Service charges 5% of SKR amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI
  • 15. SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL SBLC (Standby Letter of Credit) Services Application for Standby Letter of Credit - Terms and Conditions In consideration of you, your correspondent bank or your overseas branch agreeing to issue or issuing on our behalf or for our account and on behalf of the third party referred to overleaf a Standby Letter of Credit (“SBLC”) in favour of the Beneficiary according to the details overleaf, we agree to the following terms and conditions:- 1. • All references in this Agreement and Indemnity to “SBLC” include any fresh or renewed Standby Letter of Credit which we request you, your correspondent bank or your overseas branch to issue in replacement of a Standby Letter of Credit issued by you, your correspondent bank or your overseas branch; • All references in this Agreement and Indemnity to “Counter-Guarantee” shall include any Counter-Guarantee/Counter Letter of Indemnity/Counter Standby Letter of Credit issued or to be issued by you to your correspondent bank or overseas branch in respect or furtherance of any “SBLC” (as defined above) issued or to be issued by such correspondent bank or overseas branch, as well as any fresh or renewed Counter- Guarantee/Counter Letter of Indemnity/Counter Standby Letter of Credit given or to be given by you in replacement thereof.
  • 16. 2. • Clause as 3 set out below shall apply whether the SBLC is issued or renewed by you or your correspondent bank / overseas branch at our request. • Clause 4 as set out below shall apply in respect of any Counter-Guarantee issued / renewed or to be issued / renewed by you to your correspondent bank/overseas branch in furtherance of or consequential to our request or our request on behalf of the third party named overleaf to you to instruct your correspondent bank/overseas branch to issue / renew the SBLC. • All other Clauses set out below shall apply generally irrespective of whether the SBLC is issued / renewed by you or your correspondent bank, overseas branch, whether the SBLC is issued / renewed at our request for us or at our request and on behalf of the third party (named overleaf) and whether a Counter-Guarantee is issued / renewed by you to your correspondent bank or overseas branch in furtherance of or consequential to our request or our request on behalf of the third party (named overleaf) to you to instruct your correspondent bank or overseas branch to issue / renew the SBLC. 3. In consideration of your agreeing at our request to issue / renew the SBLC or at our request to sign and issue / renew for our account and on behalf of the third party named overleaf the SBLC or to instruct your correspondent bank or your overseas branch to issue / renew the SBLC either for our account or for our account on behalf of the third party named overleaf, we and our successors-in-title and assigns hereby agree and undertake to indemnify you, your successors and assigns and at all times to keep you, your successors and assigns fully and completely indemnified from and against all liabilities, claims and demands, actions and proceedings, losses, damages and expenses including but not limited to all legal costs on an indemnity basis which may be incurred by you and all bank charges, costs, disbursements, expenses and other liabilities of whatsoever nature or description which may be made, levied or taken or suffered by you in relation to or arising out of the SBLC issued / renewed or to be issued / renewed by you, your correspondent bank or your overseas branch. This indemnity shall extend to any substitute(s) for the SBLC and any amendments or modifications thereto and any letters or documents made supplemental thereto. 4. In consideration of your agreeing to sign and issue / renew a Counter-Guarantee to your correspondent bank or your overseas branch in furtherance of or consequential to or as security for the SBLC issued / renewed or to be issued / renewed by the said correspondent bank or overseas branch at your instructions and on our request or on our request, for our account and on behalf of the third party named overleaf, we, our successors-in-title and assigns hereby agree and undertake to indemnify you, your successors and assigns and at all times to keep you fully and completely indemnified from and against all liabilities, claims and demands, actions and proceedings, losses and expenses including but not limited to all legal costs on an indemnity basis which may be incurred by you and all bank charges, costs, disbursements, expenses and
  • 17. other liabilities of whatsoever nature or description which may be made or taken or suffered by you in relation to or arising out of the Counter-Guarantee, issued or to be issued by you or the SBLC issued / renewed or to be issued / renewed by your correspondent bank/your overseas branch. This indemnity shall extend to any substitute(s) for the Counter-Guarantee and/or the SBLC and any amendments or modifications thereto and any letters or documents made supplemental thereto. 5. You, your correspondent bank or your overseas branch shall at all times be entitled to make any payment under the SBLC upon a request or demand by the Beneficiary and you shall at all times be entitled to make any payment under the Counter-Guarantee upon a request or demand by your correspondent bank or your overseas branch, without further investigation or enquiry and need not concern yourself/itself with the propriety of any such request or demand and it shall not be a defence to any demand made on us under this Agreement, nor shall any of our obligations hereunder be affected or impaired by the fact that you, your correspondent bank or your overseas branch were/was or might have been justified in refusing payment, in whole or in part, of the amount or amounts so requested or demanded on any grounds whatsoever. 6. We hereby irrevocably authorise and direct you/your correspondent bank/your overseas branch to make any payments and comply with any request or demand made to you, your correspondent bank or your overseas branch under the SBLC or Counter-Guarantee without any further reference to or further authority, confirmation or verification from us or the third party and whether or not we or the third party dispute such request or demand or you, your correspondent bank or your overseas branch have/has notice of any dispute relating to any contract between us or the third party and the Beneficiary and without enquiry into the justification for such payment or such request or demand or into the validity, genuineness or accuracy of any statement or certificate or other documents received by you, your correspondent bank or your overseas branch with respect to or in connection with or under the SBLC or Counter-Guarantee and any such request or demand shall be binding upon us and the third party and shall be accepted as conclusive evidence by us and the third party that you, your correspondent bank or your overseas branch were/was liable to make such payment or comply with such request or demand, as the case may be. 7. We shall forthwith on demand pay to you the full amount (without any set-off, deduction or counterclaim) which has been requested or demanded from you, your correspondent bank or your overseas branch by the Beneficiary (regardless of whether you, your correspondent bank or your overseas branch has made any payment to the Beneficiary) under and/or in connection with the SBLC or which has been requested or demanded from you by your correspondent bank/your overseas branch under and/or in connection with the Counter-Guarantee and any other payments payable by or incurred or paid by you, your correspondent bank or your overseas branch under and/or in connection with the SBLC and/or the Counter-Guarantee including without limitation
  • 18. payments of any taxes levies duties or charges or any payments howsoever incurred to obtain a complete and unconditional release of your/your correspondent bank’s/your overseas branch’s obligations under and/or in connection with the SBLC or Counter-Guarantee together with interest thereon calculated in accordance with Clause 9 from the date of such request or demand on you, your correspondent bank or your overseas branch until the date of payment by us and all costs expenses charges and commissions at such rate as you may determine. 8. We shall not be released, relieved or discharged from any of our obligations under this Agreement nor shall any such obligations be prejudiced or affected by any reason, including without limitation that : • the SBLC or Counter-Guarantee or any provision thereof, the Beneficiary’s request or demand under the SBLC for payment, your correspondent bank’s/your overseas branch’s request or demand under the Counter-Guarantee for payment, any document accompanying the Beneficiary’s/your correspondent bank’s/your overseas branch’s request or demand for payment or any other document in connection with the SBLC or Counter-Guarantee is void, voidable or invalid or is not binding on or enforceable against us, you, your correspondent bank or your overseas branch, the Beneficiary or any party thereof for any reason whatsoever, whether known to you, your correspondent bank or your overseas branch or not, including, without limitation, illegality, disability, lack of authorisation or capacity, or lack of powers on the part of the members, officers or agents of ours, yours/your correspondent bank/your overseas branch, the Beneficiary or any other party or any failure by us, you, your correspondent bank or your overseas branch, the Beneficiary or any other party to comply with the laws or regulations in their respective countries; or • the Beneficiary’s request or demand for payment under the SBLC, your correspondent bank’s/your overseas branch’s request or demand under the Counter-Guarantee for payment, or any document accompanying such request or demand or any other document required in connection with the SBLC or Counter-Guarantee or any particulars stipulated, described or quantified in any such request or demand or documents is/are not in proper form, sufficient, accurate, genuine or legal; or • Any other cause or circumstance, foreseen or unforeseen affecting any transaction contemplated under the SBLC or Counter-Guarantee or any document in connection with the SBLC or Counter-Guarantee. • Any court injunction obtained against the Beneficiary of the SBLC, you, your correspondent bank or your overseas branch in connection with the SBLC. 9. For the purpose of Clause 7 above, we shall pay to you interest as well after as before judgment at such rate or rates and for such period or periods as you may determine. Such interest shall be payable forthwith to you. 10.
  • 19. To secure all our obligations and/or liabilities hereunder, and also for any and all other obligations and/or liabilities, absolute or contingent, due or to become due which are now or may at any time hereafter be owing by us to you, we grant to you a continuing security interest in/pledge to you/assign to you all of our property in your/your correspondent bank’s/your overseas branch’s possession or control, deposits and credits maintained with you, your correspondent bank or your overseas branch, and all other property that now or hereafter secures our other obligations to you until such time as all the obligations and/or liabilities to you at any time existing under or pursuant to this Agreement, or any other obligations or liabilities incurred by us to you, now existing or hereafter arising, have been fully paid and discharged. All or any of such property and the proceeds thereof, coming into your/your correspondent bank’s/your overseas branch’s possession, may be held and disposed of by you, it being understood that the receipt by you, your correspondent bank or your overseas branch, at any time of other security of whatsoever nature, including cash, shall not be deemed a waiver of any of your rights or powers hereunder. 11. The issuance of the SBLC by you, your correspondent bank or your overseas branch is subject to your right to require a deposit or deposits of a sum or sums of moneys, cash cover or any other security from us on demand for prospective and contingent liabilities that you, your correspondent bank or your overseas branch may be exposed to from time to time under or in connection with the issuance of the SBLC or for any other reason for which you may think it advisable or necessary. 12. Our liabilities and obligations under this Agreement shall not be diminished or extinguished by any act, omission, default, matter or thing including without limitation any indulgence forbearance or extension of time granted by you, your correspondent bank or your overseas branch to us or to any other persons which would but for this Clause have discharged us (wholly or in part) or would have afforded us any legal or equitable defence to the full, prompt and complete performance of all the terms of this Agreement, including the due and punctual payment of all amounts that may become due to you hereunder and the final discharge of the indemnity contained herein. 13. All sums payable by us to you under this Agreement shall be paid (i) free of any present or future taxes, levies, duties, charges, fees or any restriction or condition, (ii) free and clear of and (except to the extent required by law) without any deduction or withholding on account of any tax and (iii) without deduction or withholding (except to the extent required by law) on account of any other amount, whether by way of set-off counterclaim or otherwise now or subsequently imposed by any country or any subdivision or taxing authority of or in such country or any federation or organization of which such country is a member. If any such payment shall be subject to any such tax or if we are required to make any such deduction or withholding, we shall pay as required and shall simultaneously pay to you such additional amount as may be necessary to enable you to receive, after all such payments, deductions and withholdings, a total amount equal to the full amount payable under this Agreement. If we shall make any such payment, deduction
  • 20. or withholding we shall within 7 days forward to you an official receipt or other official documentation evidencing such payment or the payment of such deduction or withholding. As used in the Clause the term “tax” includes all levies, imposts, duties, charges, fees, deductions, withholdings, turnover tax, transaction tax, stamp tax and any restrictions or conditions resulting in a charge. 14. Our obligations under this Agreement shall survive the repayment of all or any moneys whether for principal, interest, default interest, fees or any other monies and liabilities due and payable by us to you hereunder and the termination of this Agreement. 15. Upon the non-performance or non-satisfaction of any obligations or liabilities (including the obligation to make payment) herein mentioned, or upon our failure forthwith, with or without notice, to furnish satisfactory additional collateral or to make payments on account as herein agreed, or to perform or comply with any of the other terms or provisions of this Agreement, or in the event of the Applicant’s death, failure in business, dissolution or termination of existence, or in case any petition in bankruptcy or for winding up or any application for receivership or judicial management should be filed by or against us, or any proceedings in bankruptcy or for winding up, or under any Acts relating to the relief of debtors, should be commenced for the relief or readjustment of any of our indebtedness, either through reorganisation, composition, restructuring, extension or otherwise, or if we should make an assignment for the benefit of creditors, or if a receiver of any of our property should be appointed at any time, or if any of our funds or other property which may be in or come into your/your correspondent bank’s/your overseas branch’s possession or control or that of any third party acting on your/your correspondent bank’s/your overseas branch’s behalf as aforesaid, should be attached or distrained or should be or become subject to any mandatory order of court or other legal process, then, or at any time after the happening of any such event, any or all of our aforesaid obligations and/or liabilities whether actual, contingent or prospective shall become due or mature immediately, without demand or notice. You shall also be entitled to demand that we obtain the issuance of substitute standby letter of credit, letter of guarantee or letter of indemnity from another financial institution or otherwise arrange for the prompt release by the Beneficiary of your/your correspondent bank’s/your overseas branch’s obligations under the SBLC and to pursue any other remedy available to you under this Agreement or otherwise. 16. Without prejudice to other provisions of this Agreement, you shall be entitled at your absolute discretion to debit, at any time and without prior notice to us, the current account or any other account of ours maintained with you, for any purpose including obtaining reimbursement, security or otherwise, for all or any moneys whether for principal, interest, default interest, fees or any other moneys and liabilities due and payable by us to you hereunder Provided Always that any such debiting shall not constitute nor be deemed to be a payment of any moneys to which it relates (except to the extent of any amount in credit in the said current account or other account
  • 21. of ours with you) nor shall it be deemed a waiver of an event of default or any other default under this Agreement. 17. In addition to any lien, right of set-off or other right which you may have, you shall be entitled at any time and without notice to us to combine or consolidate all or any of our accounts with you anywhere in the Republic of Singapore or outside the Republic of Singapore or set-off or transfer any sum or sums standing to the credit of one or more of such accounts in or towards satisfaction of any of our obligations and liabilities to you on any other account or accounts whether in the Republic of Singapore or outside the Republic of Singapore or in any other respect whether such liabilities be actual or contingent, primary or collateral, several or joint, notwithstanding that the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency and you are hereby authorised to effect any necessary conversions at your own rate of exchange then prevailing and to charge us interest in connection therewith at such rate or rates and for such period or periods as you may deem fit. 18. You, your correspondent bank or your overseas branch shall not be liable to us for, and your right to reimbursement, indemnity, and any other payments under this Agreement shall not be impaired by : • any recommendation, or failure to recommend, the inclusion or exclusion of any particular term or wording in the SBLC or Counter-Guarantee; • honour of any demand under the SBLC or Counter-Guarantee that does not strictly comply with its terms; • any delay in paying the amount demanded from you, your correspondent bank or your overseas branch by the Beneficiary and/or any other person under and/or in connection with the SBLC or Counter-Guarantee 19. In the event of any change or modification with respect to the amount or duration of the SBLC, or any of the other terms or provision of the SBLC, this Agreement shall be binding upon us in all respects with regard to the SBLC so changed or modified, inclusive of any action taken by you, your correspondent bank or your overseas branch relative thereto. 20. In the event that we request and authorize you, your correspondent bank or your overseas branch to accept and act on our telephone and/or faxed instructions pertaining to any changes or modifications to the terms and conditions of the SBLC or the application for SBLC, we hereby undertake to mail to you the original letter (for confirmation purposes only) signed by our duly authorised officers within 7 working days after such instructions were given to you. Failure to confirm as aforesaid shall not affect the aforesaid request, authorisation and/or instructions.
  • 22. 21. In consideration of you, your correspondent bank or your overseas branch agreeing to act on our telephone and/or faxed instructions, we hereby undertakes to indemnify you, your correspondent bank or your overseas branch from and against all liabilities, claims, demands, actions, proceedings, losses, expenses and all other liabilities of whatsoever nature or description which may be suffered by you, your correspondent bank or your overseas branch in relation to you, your correspondent bank or your overseas branch acting on such authorisation and we hereby waive any rights, claims, actions or proceedings we may have against you, your correspondent bank or your overseas branch for any losses, expenses or liabilities we may suffer as a consequence of you, your correspondent bank or your overseas branch acting on such instructions. 22. We shall pay all legal fees (on an indemnity basis) and other costs and disbursements incurred in connection with demanding and enforcing payment of monies due hereunder, or otherwise howsoever in enforcing this Agreement or any of the covenants, undertakings, stipulations, terms, conditions or provisions of this Agreement. 23. You may assign or transfer this Agreement, or any instrument(s) evidencing all or any of the aforesaid obligations and/or liabilities and may deliver all or any of the property then held as security therefore, to the transferee(s), who shall thereupon become vested with all the powers and rights in respect thereto given to you herein or in the instrument(s) transferred and you shall thereafter be forever relieved and fully discharged from any liability or responsibility with respect thereto but you shall retain all rights and powers hereby given with respect to any and all instrument(s), rights or property not so transferred. 24. A demand for payment of moneys or any other demand or notice under this Agreement may be made by any officer employed by you, your correspondent bank or overseas branch or solicitors acting for you, your correspondent bank or your overseas branch by letter addressed to us and sent by post to or delivered to our address stated overleaf or by telex, facsimile or other electronic transmission to the numbers stated overleaf and any and every demand or notice shall be deemed to have been delivered, made or given on the date of dispatch notwithstanding that the letter may be returned through the post office undelivered or if sent by telex or facsimile transmission immediately after transmission thereof. 25. Any certificate, notification or demand given by you to us as to any rate of interest or any amount payable under or in connection with this Agreement shall in the absence of manifest error be final conclusive and binding on us.
  • 23. 26. In case any provision or part thereof in this Agreement shall be, or at any time shall become or deemed to be invalid, illegal or unenforceable in any respect under any law, such invalidity, illegality or unenforceability shall not in any way affect or impair any other provisions of this Agreement but this Agreement shall be construed as if such invalid or illegal or unenforceable provision or part thereof had never been contained herein. 27. We further agree that our liability aforesaid is irrevocable and shall remain in full force and effect until the liability under the SBLC and/or Counter-Guarantee given by you, your correspondent bank or your overseas branch is fully and unconditionally discharged to your or their satisfaction, notwithstanding any variation of the obligation underlying the SBLC and/or Counter-Guarantee, or any defect in or other restriction as to the enforceability of the obligation underlying the SBLC and/or Counter-Guarantee. 28. If under any applicable law or regulation, or pursuant to a judgement or order being made or registered against us or our bankruptcy or liquidation, or, without limitation, for any other reason, any payment under or in connection with this Agreement and Indemnity is made or fails to be satisfied in a currency (the “currency of payment”) other than the currency in which such payment is expressed to be due under or in connection with this Agreement and Indemnity (the “currency of obligation”) then, to the extent that the amount of such payment actually received by you, when converted into the currency of obligation, at the rate of exchange, falls short of the amount due under or in connection with this Agreement and Indemnity, we, as a separate and independent obligation, shall indemnify you and hold you harmless against the amount of such shortfall. For the purposes of this clause, “rate of exchange” means the rate at which you are able on or about the date of such payment to purchase, in accordance with your normal practice, the currency of obligation with the currency of payment and shall take into account (and we shall be liable for) any premium and other costs of exchange including any taxes or duties incurred by reason of any such exchange. 29. Where the format and text of the SBLC were supplied by us or the third party named overleaf, you, your correspondent bank or your overseas branch are under no responsibility or liability to us or the third party to ensure the accuracy, completeness of legality of the SBLC. We are fully aware of the contents of the SBLC and the consequences thereof and we agree that we would not at any time deny liability hereunder on the basis that you have a duty to advise and failed to do so. Where the translation of the SBLC is forwarded by us or the third party named overleaf to you, your correspondent bank or your overseas branch (whether translated by us or otherwise), we confirm that we shall bear the risk of such translation and shall at all times keep you, your correspondent bank or your overseas branch fully and completely indemnified from and against all liability, claims and demands, actions and proceeds, losses and expenses including but not
  • 24. limited to all legal costs on an indemnity basis which may be incurred by you, your correspondent bank or your overseas branch and all bank charges, costs, disbursements, expenses and other liabilities of whatsoever nature or description which may be made or taken or suffered by you, your correspondent bank or your overseas branch in relation to or arising out of such translation. 30. For avoidance of doubt and subject to the proviso appearing below, it is the intention of the parties that any terms, interests, rights, benefits, defenses, exemptions or limitations in this Agreement and Indemnity shall not be enforceable by a third party including that named overleaf (save and except for a third party as defined below) against you pursuant to the Contract (Rights of Third Parties) Act of Singapore (“the Act”), provided always that nothing herein operates to prevent or limit your right to assign, novate, otherwise confer any benefit or interest in favour of any other party, apart from the Act. The terms, interests, rights and benefits referred to above shall include but are not confined to any banking facilities, advances, loans, financing or any other form of financial accommodation that you provide or may provide under this Agreement and Indemnity. Provided always that it shall be the intention of the parties that all defenses and limitations in this Agreement and Indemnity shall be enforceable by you, your successors in title or assigns, entities into or with which you may merge or consolidate, any entities formed as a result of acquisition, of or by you as well as your employees, sub-contractors and agents, all of whom or which shall be deemed as third parties for the purposes of the Contracts (Rights of Third Parties) Act of Singapore. For the purposes of this Act, consent of any of these parties is not required for any variation, rescission or termination of this Agreement and Indemnity. 31. We confirm that the issuance of the SBLC to the Beneficiary on behalf of the third party for our account is of commercial benefit to us and we acknowledge that the issuance of the SBLC is in reliance on our confirmation herein. We further confirm that we will not dispute the existence of such commercial benefit. 32. In the event that a SBLC is issued / renewed by your correspondent bank or your overseas branch against or with a Counter-Guarantee which you issue / renew in favour of your correspondent bank or your overseas branch, we agree that such a SBLC shall for the purposes of this Indemnity be deemed to be issued / renewed by you on our application and we remain liable to indemnify you in full and in accordance with the terms herein in respect of such SBLC, in the event of any judgment, finding or determination that the Counter-Guarantee issued / renewed by you in favour of your correspondent bank/your overseas branch is invalid. 33. For the avoidance of doubt, it shall be deemed good and sufficient consideration for you to issue / renew a Counter-Guarantee to your correspondent bank/your overseas branch in consideration of their issuing / renewing a SBLC at your instructions and on our request whether acting for
  • 25. ourselves or the third party. For further avoidance of doubt, we agree that any Counter- Guarantee given by you to your correspondent bank/your overseas branch shall in all respects be considered valid and enforceable. 34. In the event the SBLC to be issued / renewed by you, your correspondent bank or your overseas branch and/or Counter-Guarantee to be issued / renewed by you to your correspondent bank/your overseas branch is subject to and is to be governed by the laws of a jurisdiction other than the Republic of Singapore and should a request or demand be subsequently made by the Beneficiary under the SBLC and/or by your correspondent bank/your overseas branch under the Counter-Guarantee, we agree and authorize you, your correspondent bank or your overseas branch to obtain at your/your correspondent bank’s/your overseas branch’s discretion, an opinion from legal counsel on the validity, legality and enforceability of the SBLC and/or Counter- Guarantee and all other legal matters relating to the SBLC, prior to you, your correspondent bank or your overseas branch making payment in accordance with the aforesaid request or demand. We further agree that we shall bear the entire cost of you, your correspondent bank or your overseas branch obtaining such an opinion and that we shall indemnify you, your correspondent bank or your overseas branch for any loss or expense whatsoever suffered you, your correspondent bank or your overseas branch due to any delay in the payment to the Beneficiary under the SBLC and/or to your correspondent bank/your overseas branch under the Counter- Guarantee caused by you, your correspondent bank or your overseas branch having to obtain such an opinion. 35. This Agreement and Indemnity shall be governed by and construed in accordance with the laws of Singapore. In the event of any proceedings or suits commenced against us arising out of or in connection with this SBLC, we agree to submit to the non-exclusive jurisdiction of the Courts of Singapore. Without prejudice to the foregoing, we undertake not to commence proceedings or suits against you in the courts of any other jurisdiction. In the event of any proceedings or suits commenced by us against you, we agree that Singapore Courts shall have exclusive jurisdiction in respect of any disputes arising out of or in connection with the SBLC. We agree to waive and do so waive any right vested on us by the laws of the jurisdiction in which we carry on business to challenge the validity or legality of any part of this provision. 36. In the event that the original SBLC which the bank has issued is returned without any accompanying letter or instructions, the Bank will determine in its sole discretion whether to treat the returned SBLC as indicating that it is no longer required by the beneficiary. We will treat your liabilities there under as conditionally discharged, subject to the Bank not receiving any further demands from the beneficiary under the SBLC by the latest date by which all demands in writing must be received by us, or upon our receipt of a letter purporting to be from the beneficiary or his bank, advising of release from our SBLC obligations, at which time your liabilities hereunder will be fully discharged. Should such demands be received before full discharge, your obligations
  • 26. under this application form shall continue in full force and effect and the Bank reserves the right to exercise all its rights hereunder including its right of set-off as provided for in this application form, against any accounts you maintain with the Bank domestically or overseas. NOTE- Service charges 5% of SBLC amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
  • 27. MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL (Letter of Credit) Services Letter of Credit Required Documents Below are the most common documents required in an Import or Export Letter of Credit* and the definition of each document. Bill of Lading: A Bill of Lading is considered the most important document involved in a shipment of merchandise. An exporter receives a Bill of Lading when delivering the merchandise to the shipping company for transport to an importer. Order Bill of Lading: An Order Bill of Lading is a title document. Steamship companies issue one or more original Order Bills of Lading per shipment, which allows an importer to claim merchandise when it arrives. An exporter normally endorses the Bills of Lading "in blank," which means that they are not endorsed to a specific person or institution. The party possessing any one of the original Bills of Lading can take possession of the goods. Airway Bill of Lading (Straight Bill of Lading): This instrument does not convey title. Airline companies issue Straight Bills of Lading called Airway Bills. Since an Airway Bill is issued only in non-negotiable form, an exporter consigns it to a specific person or institution. A copy of the Airway Bill accompanies a shipment, and an exporter is given the original to present along with other required shipping documents. To take possession of the merchandise, a party to which the merchandise is consigned needs to present proper identification. Therefore, if the air shipment is consigned to a buyer, the seller might lose control of the merchandise before payment is made. To prevent this, an Airway Bill should be consigned to Bank. Commercial Invoice: A Commercial Invoice is a document that describes merchandise, as stated in the Letter of Credit, and lists the costs. An importer may agree to pay, in addition to the cost of the merchandise, charges involved in shipping the merchandise. The description of the
  • 28. merchandise in the Commercial Invoice and the description of the merchandise in the Letter of Credit must be identical in every way. Insurance Policy: Issued by an underwriting institution, the Insurance Policy states that a specified party will be reimbursed an amount in the event merchandise is damaged or destroyed. An Insurance Policy generally covers accidental losses and covers voluntary losses when a cargo must be sacrificed to save a ship. For additional cost, losses caused by spoilage, war, civil disturbance, riots and other risks can be included in the coverage. Because commercial banks are not included in the shipping business per se, questions regarding types of coverage should be referred to a freight forwarder or a customs broker. There are other documents included in Letters of Credit and Documentary Collections not referenced above. Importers and exporters are encouraged to contact Bank to discuss a particular transaction and we will assist in determining if the documents will give rise to difficulties in negotiation of the documents. There are some universal requirements, including those listed below: DOCUMENT PREPARATION UNDER LETTERS OF CREDIT Document: THE LETTER OF CREDIT Ensure: • It is the correct referenced letter of credit • It is still valid (not expired/canceled) • The available balance in the letter of credit is sufficient to cover the value of the drawing • The documents required by the letter of credit are presented • No amendments or previous drawdown are in a questionable state Document: THE DRAFT OR BILL OF EXCHANGE Ensure: • The draft bears the correct letter of credit reference number • The draft has a current date • The signature and/or the name of the Drawer corresponds with the name of the Beneficiary • It is drawn on the drawee • the amount in figures and words correspond • the tenor is as required by the letter of credit • the name of the payee is identified • if it requires an endorsement it is properly endorsed • there are no restricted endorsements • it contains any necessary clauses as required by the letter of credit • the amount drawn does not exceed the balance available in the letter of credit • the value of the draft and the invoices correspond • it is not drawn “without recourse” unless authorized by the letter of credit Document: THE COMMERCIAL INVOICE OR TRADE INVOICE Ensure: • it is issued by the Beneficiary of the letter of credit
  • 29. • Applicant (Buyer) is indicated as the invoiced party, unless otherwise stated in the letter of Credit • it is not titled “pro-forma” or “provisional” invoice • the description of the goods corresponds with the merchandise description in the letter of credit • no additional detrimental description of the goods appears that may question their condition or value • details of the goods, prices and terms as mentioned in the letter of credit are included in the invoice • any other information supplied in the invoice, such as marks, numbers, transportation information, etc., is consistent with that of the other documents • currency of the invoice is the same as that of the letter of credit • value of the invoice corresponds with the draft • value of the invoice does not exceed the available balance of the letter of credit • it covers complete shipment as required by the letter of credit (if partial shipments are not allowed) • If required by the letter of credit the invoice is signed, notarized, legalized, certified, etc. • the information relative to the shipment, packaging, weight, freight charges or other related transport charges corresponds with that appearing on the other documents • correct number of originals and copies are presented Document: CERTIFICATE OF ORIGIN (A document in which certification is made as to the country of origin of the merchandise.) Ensure: • it is a unique document and not combined with any other document • it is signed, notarized, legalized, etc. as required by the letter of credit • the data on it is consistent with that of the other documents • the country of origin is specified, and that it meets the requirements of the letter of credit Document: WEIGHT LIST / CERTIFICATE Ensure: • it is a unique document and not combined with any other document • it is signed if a certificate is called for, or as otherwise stated in the letter of credit • the data on it is consistent with that of the other documents Document: PACKING LIST (A list which shows number and kinds of packages being shipped, totals of gross, legal and net weights of the packages, and marks and numbers on the packages) Ensure: • it is a unique document and not combined with any other document • It corresponds with the requirements of the letter of credit. A detailed packing list requires a listing of the contents of each package, carton, etc. and other relevant information • data on it is consistent with that of the other documents Document: INSPECTION CERTIFICATE Ensure: • inspection firm nominated in the letter of credit, if any, issued the certificate, • it is signed n it complies with the inspection requirements of the letter of credit • it contains no detrimental statement as to the goods, specifications, quality, packaging, etc. unless authorized by the letter of credit Document: INSURANCE DOCUMENT
  • 30. (Document issued by an insurance company, usually to order of shipper, under a marine policy and in cover of a particular shipment of merchandise.) Ensure: • policy/certificate/declaration/cover note, as required by the letter of credit, is presented • full set of the insurance documents issued is presented • it is issued and signed by the insurance company, the underwriter or their agents, and the insured, if so required by the insurance document • date of issuance or date from which cover is effective at the latest from the date of loading on board or dispatch or taking in charge of the goods, as the case may be • value of the goods insured is as required by the letter of credit or as defined in UCP 500 sub-Article 34(f) • it is issued in the same currency as the letter of credit, unless otherwise allowed in the letter of credit • goods description corresponds with that of the invoice • covers the merchandise from the designated port of embarkation or point of taking in charge to the port of discharge or point of delivery • covers the specified risks as stated in the letter of credit and that the risks are clearly defined • marks and numbers, etc. correspond with those of the transport document • if the insured named is other that the Confirming Bank, Issuing Bank or buyer, it bears the appropriate endorsement • all other information appearing on the document is consistent with that of the other documents • if any alteration is noted in the document it is properly authenticated Document: TRANSPORT DOCUMENT (A document which provides the terms of the contract between the shipper and the transportation company to move freight between stated points at a specified charge) Ensure: • full set of originals issued is presented, unless otherwise stated in the letter of credit • it is not a “charter party” transport document unless it is authorized in the letter of credit under UCP 500 Article 30 • name of the consignee is as required in the letter of credit • if the transport document requires endorsement it is appropriately endorsed • it bears the name of the shipper or his agent • the name and address, if any, of the notifying party is as required in the letter of credit • the description of the goods generally corresponds to the description of the foods as stated in the letter of credit, and that the marks and numbers as well as other specification, if any, are identical to those appearing on the other documents • the indication of freight prepaid or freight collect costs, as required by the terms of the letter of credit, appears on it • there are no clauses on the transport document that may render it “foul” or “unclean” OTHER MISCELLANEOUS DOCUMENTS Please note: • That when documents other than transport documents, insurance documents and commercial invoices are called for, the letter of credit should stipulate by whom such documents are to be issued and their wording or data content. In the absence of this information, banks will accept such documents as presented, provided that their data content is not inconsistent with any other stipulated document presented; • That when Letters of Credit require a document to issued as a “certificate,” the document must be signed.
  • 31. Please note that this list is not exhaustive, but is offered as a general guide to help in the preparation and examination of documents that could be required by a letter of credit. This list is not to be construed as being other than solely for guidance and therefore, we highly recommend that you contact a Bank international banking product specialist or Bank's International Client Services department for further assistance and interpretation 3. Avoiding Discrepancies Below are some suggestions which may be helpful in eliminating delays and problems in the processing of letter of credit transactions DISCREPANCY CHECKLIST Upon receipt of a letter of credit advice, please ascertain whether: • The type of credit and all terms and conditions correspond to the sales contract • There are any unacceptable conditions • The documents can be prepared in the form required • The merchandise description and unit price conform to the sales contract • The amount of the credit is sufficient to cover all costs to be borne by the shipper under the terms of the contract The latest permissible shipping and expiration dates allow sufficient time for shipment and presentation of documents to the bank. • The points of shipment and destination conform to the sales contract • The insurance coverage corresponds to the terms of the sale • All names and addresses are shown correctly Some of the most common documentary discrepancies to avoid when presenting documents under a letter of credit are listed below: • LETTER OF CREDIT expired--documents presented after expiration date of the letter of credit • Late shipment--shipment made after latest allowable shipping date • Late presentation--documents presented more than 21 days after shipment (or as specified in the LETTER OF CREDIT) • LETTER OF CREDIT overdrawn--amount of drawing exceeds amount available under the letter of credit • Short shipment • Bill of exchanges (draft) drawn on incorrect party • Bill of exchanges (draft) payable on an indeterminable date • Merchandise description in invoice differs from that in the credit • “On board” notation on bill of lading not dated • Bill of lading showing incorrect consignee • Bill of lading shows port of loading and/or discharge other than ports specified in LETTER OF CREDIT • Bill of lading does not indicate whether freight is prepaid or payable at destination/collect Documents inconsistent with each other • Bill of lading, insurance certificate/policy and/or bill of exchange (draft) are not properly endorsed • Absence of signature, where required, on documents presented • Shipping terms (Ex-Factory, FAS, FOB, C&I, C&F, CIF) on invoices differ from those specified in the letter of credit • Set of documents presented under LETTER OF CREDIT incomplete • Bill of exchange (draft) drawn with incorrect tenor • Corrections on bill of lading or insurance certificate/policy not initialed
  • 32. Please keep in mind that the negotiating bank’s ability to pay against documents submitted under a letter of credit depends entirely on the strict compliance of these documents with the terms and conditions of the credit and the provisions of the Uniform Customs and Practice for Documentary Credits. NOTE- Service charges 5% of LC amount after disbursement Application submission fees-1 LAC Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
  • 33. MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Payment Gateway Account Services Documentation required- • Registration Certificate with sign & seal • MOA ( Memorandum of Association) with sign & seal • AOA ( Article of Association) with sign & seal • Registered Trust Deed with sign & seal • List of Trustees / Office bearers with sign & seal • Address proof of Trust with sign & seal • KYC of all the trustees associated with the trust with sign & seal • Form 12A ( Only for educational Trusts ) with sign & seal • Tax Exemption Certificate with sign & seal • True copy of Trust deed with sign & seal • Pan Card with sign & seal • Authorized signatory ID Proof + Address Proof + 2 Photo with sign & seal • Please carry 10 page letter Head and Trust stamp and cheque book Latest details on letter Head in following format:- Sl.No Name Address Photo NOTE- Service charges 5 Lac Cash deposit in
  • 34. SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 12A Registration Services When NGO organization gets registered with Income Tax department, to claim tax exemption for their income, it gets the 12 A certification. From the Date of establishment of a nonprofit NGO organization like trust, society or nonprofit company, it should apply for registration with Income tax department to get 12A certificate. If delayed in applying for registration then the nonprofit NGO organization should submit Audit Reports for the past three years or as may be available. To get registered with Income tax department, Nonprofit NGO has to fill a form name FORM 10A and it have to produce to the Commissioner of Income Tax, Income Tax Department office where your NGO organization is location. If you’re NGO established in metropolitan cities like Delhi, Calcutta, Mumbai and Chennai, then you have to produce the FORM 10A to the Director of Income Tax (Exemption), Income tax department office. Before submitting FORM 10a, please make sure that you have received PAN CARD for your nonprofit NGO organization. When you produce the form 10A to the above Income tax department, you have also required enclosing the proofs and copies of the following. 1. Original basic documents of organization, which evidencing the creation of the NGO should be enclosed, like Trust deed / Bye laws / Rules and Regulations / Memorandum and Articles of Association as per the shape of the nonprofit NGO organization. 2. Two copies of the Accounts of Three previous years should be enclosed. Where the NGO was not in existence in any of three prior years, copies of the accounts of for minimum years may also be submitted. After you have produced the above FORM 10A either through registered post with acknowledgement due or directly in the Income Tax office, the department will over look your application for fitness towards registration. It may also monitor your organization directly in person to know the genuinely of your NGO organization.
  • 35. The Income tax officers have the rights to grant or to refuse registration to your application. If the Income tax office gets satisfied with your proper documents and with the genuinely of your organization, then you will be certified. Even a 12a certified NGO organization, shall be rejected or cancel the grant by the Income tax department, if it feels your organization is not fit as per law at any time. Income Tax form 10A [See rule 17A] Application for registration of charitable or religious trust or Institution under section 12A (a) of the Income -tax Act, 1961 To, The Chief Commissioner of Income Tax, ................................. Sir, I, (your name……..), on behalf of (your organization name…………….) hereby apply for the registration of the said trust/institution under section 12A of the Income-tax Act, 1961. The following particulars are furnished herewith: 1. Name of the trust / institution in full [In block letters]: 2. Address: 3. Name(s) and address (es) of author(s)/ Founder: 4. Date of creation of the trust or Establishment of the institution: 5. Name(s) and address (es) of trustee(s) Manager: I also enclose the following documents: 1. (A) *Original / Certified copy of the instrument under which the trust/institution was created / established, together with a copy thereof. (B) *Original / Certified copy of document evidencing the creation of the trust or the establishment of the institution, together with a copy thereof. (The originals, if enclosed, will be returned). 2. Two copies of the accounts of the *trust / institution for the latest *one / two / three years. I undertake to communicate forthwith any alteration in the terms of the trust, or in the rules governing the institution, made at any time hereafter. Date:__________ Signature: Designation: Address: • Strike out whichever is not applicable. * Note: This is a model form, when you type in this form the number of pages may increase. After completion of this form perfectly please delete this sentence.
  • 36. NOTE- Service charges 1 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 35AC/35AC 1&2/35 AC 1&3/35 AC CCB Registrations Services 35 AC Exemptions 35AC is Income Tax number for a Particular exclusive Project, Those who are all going to sponsor for the Project, they will get 100% Tax exception. So normally this 35AC is very Demand full among the Ngo’s. On behalf of your Organization, Help Ngo will prepare the Project Proposal not exceeding a Net Budget of 15,00,00,000/- (Rupees Fifteen Cr) for 35AC and submit to the Government of India and get the acknowledgement. To prepare the Project Proposal we have to spend lot of time and involve more. We have to complete the Project Proposal within the stipulated deadline of the Application. So we need 100% co-operation to prepare the Project Proposal. 35 AC Exemptions (1&2) (i)100% One hundred per cent deduction is allowed to donors for contribution(s) made to organizations approved under section 35(1) (ii) (such as scientific research institutes or a university, college, or other institution) specifically for “scientific research” and under section 35(1) (iii) specifically for “research in social science or statistical research.” 35 AC Exemptions (1&3) Donors giving under this section can claim up to 125% deductions; donations can be 100% of the taxable income, but donations must be made to projects approved under section 35(1)(iii). Only organizations undertaking research in social sciences or statistical research can be approved. NPO (Non-Profitable Organization) should apply in form 3CF and send it to the Central Board of Direct Taxes through CIT. The approval is not given for more than 3 years at a time. It can be renewed. The NGO needs to maintain separate accounts for the money so received. This does not mean separate cash or bank account but only a separate ledger. An Annual Return also needs to be filed. This deduction will be withdrawn in 2006.
  • 37. 35 AC Exemptions (CCB) Where donation is made to an association or institution, which has as its object the undertaking of any programmed of conservation of natural resources or a forestation, to be used for carrying out any programmed of conservation of natural resources or a forestation approved by the prescribed authority; or to such fund for a forestation as may be notified by the Central Government, then the donor shall be allowed a deduction of the amount of such 40 expenditure incurred. The prescribed authority (Secretary, Department of Environment, Govt. of India, New Delhi) shall not grant such approval for more than three years at a time. Under the Indian Income Tax law, it is mandatory for organizations to retain accounting records for 8 years from the end of the assessment year. Section 35AC of Income Tax Act, 1961 is the section which entitles an NGO to receive tax exempt donations. Section 35AC recognition of an NGO empowers it to pass on unlimited deduction to its donor i.e, 100% without any limit as against normal approval u/s 80G of Income Tax Act, 1961 entitles only 50% deduction An NGO approved under Section 35AC can easily mobilize foreign contributions as most of agencies abroad require 35AC recognition as pre condition for grant of foreign contribution to Indian organizations. Projects eligible to be notified under section 35AC are:- • Construction and maintenance of drinking water projects in rural areas and in urban slums including installation of pump-sets, digging of wells, tube-wells and laying of pipes for supply of drinking water; • Construction of dwelling units for the economically weaker sections; • Construction of school buildings primarily for children belonging to the economically weaker sections of the society; • Establishment and running of non-conventional and renewable source of energy systems; • Construction and maintenance of bridges, public highways and other roads; • Any other programmed for uplift of the rural poor or the urban slum dwellers, as the National Committee may consider fit for support; • Promotion of sports; • Pollution control; • Establishment and running of hospitals and medical facilities in rural areas, exclusively for women and children up to 12 years of age; • Encouraging the production of bacteria induced fertilizers; • Any programmed that promotes road safety, prevention of accidents and traffic awareness; • Construction of hostel accommodation for women or handicapped individuals or individuals who are of the age of sixty-five years or more; • Establishment and running of institutions for vocational education and training in rural areas or towns which consist of population of less than five lakhs; • Establishment and running of institutions imparting education in the field of engineering and medicine in rural areas or towns which consist of population of less than 5 lakhs; • Plantation of softwood on degraded non-forest land;
  • 38. Requirements duly registered organization. Detailed Project for Charitable purposes*. Documents and information we need 1. Name, address and status of applicant, the district/ ward circle where assessed/PAN number. 2. Audited Balance Sheet, Profit& Loss Account or Income& Expenditure Account for the latest year and two preceding years. 3. Formation documents like trust deed, rules & regulation, memorandum of association etc. and registration certificate, if any. 4. Name & Addresses of the persons managing the affairs of the association or institution, including those who left the organization but were managing the affairs of the association or institution during the 3 years preceding the date of application. 5. If the association or institution is notified under section 10(23)(C) or is approved for the purposes of section 80G, the particulars of such approval granted. 6. Brief particulars of the activities of the association or institution during 3 years preceding the date of application or since inception if the association or institution is less than 3 years old. 7. Such other information as the association or institution may like to place before the National Committee. 8. Signed Authority Letter Prescribed forms:- Form3CF-I Form 3CF-II Form3CF-I [See rules 5C and 5D] Application Form for approval under clause (ii) of sub-section (1) of section 35 of the Income- tax Act, 1961 in the case of a Scientific Research Association 1. (i) Name and address of the registered office of the Association. (ii) Enclose a copy of the Trust Deed/Deed of Registration/Memorandum and Articles of Association, and if the Association was approved earlier, furnish approval number and date of the latest notification [Please enclose a copy]. (iii) If approval was withdrawn in the past, mention reasons on account of which the Approval was withdrawn [Enclose a copy of the Order/Orders withdrawing approval/approvals]. (iv)Date from which approval is sought for. 2. Legal status of the Association: Whether Registered Society or Company or Others. (Enclose a copy of certificate of Registration/incorporation) 3. Object of the scientific research association. 4. (i) Address(es) of the research laboratory of the Association.
  • 39. (ii) Year of establishment. (iii) Name and address of the Officer of the Association in-charge of the laboratory/ research facility. (iv)Total number of employees engaged in research activity carried on by the Association. 5. List of research facilities or assets owned by the Association: (i) Plant and machinery. (ii) Land and building along with cost of acquisition. (iii) Any other research facility/asset with cost of acquisition. 6. Research subjects and projects undertaken by the Association: (i) Research projects completed by the association during the last three years, if any. (ii) Research projects, which have been taken up during the year and research projects which are underway from the past years. (iii) Research papers published in any eminent national or International Research Journal. 7. Other scientific research related details: (i) New products, processes, methods, techniques developed. (ii) Improvements in the existing products, processes, methods, techniques. (iii) Products of import substitution. (iv) Patents filed, obtained, if any, and if so, in whose name? Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) Earnings from patents or registered trade marks, if any. 8. Enclose details of seminars, conferences, workshops and training courses, etc., conducted by the Association during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the Association. 9. Programmes contemplated for research in future and financial projections to meet the likely expenditure on such programmers. 10. (i) Sources of income of the Association (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle, if assessed to tax) (iii) When was the last return of income furnished? 11. Amounts received by the Scientific Research Association and actually applied for research by it during the last three years: Year Amounts received Amounts actually utilized for research out of the amounts at column (2) (1) (2) (3) Donation Grant Total 12. Attach a list of donors giving their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donors paying the sums in excess of fifty thousand rupees) 13. Enclose the copy of audited annual accounts of the association for the last three years. 14. Investments made out of the amounts not utilized for research during the year mentioned at item 10 above: (i) Fixed deposits with banks (ii) Fixed deposits with companies (iii) Government securities (iv) Shares Debentures, etc (v) Cash in hand (vi) Others, if any, not covered under (i) to (v) Certified that the above information is true to the best of my knowledge and belief Place. _______________ Date
  • 40. _______________ Signature _______________ Designation Address ------------------- ANNEXURE To be furnished by a Scientific Research Association claiming exemption under section 10(21) Financial Year _______________ 1. Total income of the Association including voluntary contributions received during the year. 2. Amount of income referred to at item 1 above that has been or deemed to have been applied wholly and exclusively for the objects of the Association. 3. Amount accumulated for the objects of the Association. 4.(i) Details of modes in which the funds of the association are invested or deposited showing nature, value and income from such investments or deposits. (ii) Details of funds not invested in modes specified in section 11(5): Sl. No. Name & address of the concern In the case of a company – number and class of shares held Face value of investment Income from investment 5. (i) Is the association carrying on any business (give details)? (ii) Is the business incidental to the attainment of its object? (iii) Are separate books of account maintained in respect of such business? 6.Details regarding the nature, quantity and value of contributions (other than cash and the manner in which such contribution have been utilized). 7. Details of shares, security or other property purchased by or on behalf of the association from: (i) the founder of the association, (ii) any person who has made a contribution exceeding rupees one lakh to the association, (iii) any member of a Hindu undivided family where the Hindu undivided family is a founder, (iv) the manager (by whatever name called) of the association, (v) a relative of the founder, member or the manager, (vi) any concern in which any of the persons referred to in sub-items (i) to (v) has a substantial interest. 8.Whether any part of the income or any property of the association was used or applied, in a manner which results directly or indirectly in conferring any benefit, amenity or perquisite (whether converted into money or not) on any interested person. If so, the details thereof 9.Amount deemed to be income of the association by virtue of section 11(3), as applicable by the first proviso to section 10(21) Certified that the above information is true to the best of my knowledge and belief Place Date Signature Designation Full Address Form 3CF-II [See rules 5C and 5E] Application Form for approval under clause (ii) or clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 in the case of a University, College or other Institution 1. (i) Name and address of the registered office of the applicant. (ii) Enclose a copy of the Trust Deed/Deed of Registration/Memorandum and
  • 41. Articles of Association, and if the university, college or other institution was approved earlier, furnish notification number and date of the latest notification. [Please enclose a copy] (iii) If approval was withdrawn in the past, mention reasons on account of which the approval was withdrawn. [Enclose a copy of the Order/Orders withdrawing approval/approvals] (iv) Date from which approval has been sought for. 2. Legal status of the Applicant: Whether Registered Society or Company or others. (Enclose a copy of certificate of registration/incorporation) 3. (i) Address(es) of the research laboratory/research facility of the applicant. (ii) Year of establishment. (iii) Name and address of the Officer in-charge of the Laboratory/research facility. (iv) Total number of employees engaged in scientific, social or statistical research. 4. List of research facilities or assets acquired by the applicant: (i) Plant and machinery. (ii) Land and building along with cost of acquisition. (iii) Any other research facility/asset along with cost of acquisition. 5. Research subjects and projects undertaken by the applicant: (i) Research projects completed by the organization during last three years, if any. (ii) Research projects which have been taken up during the year and research projects which are underway from the past years. (iii) Research papers published in any eminent national or international research journal. 6. Other details of scientific research or research in social science or statistical research (i) New products, processes, methods, techniques developed. (ii) Improvements in existing products, processes, methods, techniques. (iii) Import substitution. (iv) Patents filed: obtained, if any, and if so, in whose name? Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) New theories/models developed. (vii) New hypothesis which has been widely accepted. (viii) Any copyrights applied for/obtained. (ix) Earnings from patents or registered trade marks, if any. 7. Enclose details of seminars, conferences, workshops, and training courses, etc., conducted by the applicant during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the applicant. 8. Programmers contemplated for research in future and financial projections to meet the likely expenditure on such programmers. 9. (i) Sources of income of the applicant (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle if assessed to tax) (iii) When was the last return of income furnished? 10. Amount received by the scientific research association, university, college or other institution and actually applied for research conducted by it or its faculty members or enrolled students during the last three years: Year Amounts received Amount actually utilized for research out of the amounts at column (2) Donation Grant Total 11. Attach a list of donors giving (their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donors giving sums exceeding fifty thousand rupees) 12. Investments made out of amounts mentioned at 10 above: (i) Fixed deposits with banks (ii) Fixed deposits with companies (iii) Securities (iv) Shares, Debentures, etc.
  • 42. (v) Cash in hand (vi) Others, if any, not covered under (i) to (v) 13. Enclose copy of audited annual accounts of the university, college or other institution for the last three years. Certified that the above information is true to the best of my knowledge and belief Place Date Signature Designation Full Address NOTE- Service charges 10 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296
  • 43. MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL 80 G Registration Services When the nonprofit NGO organizations have registered with income tax department by getting 12A certificate, it shall start to get 80 g certificate. The main role of 80 g certification is to encourage the donors who donate funds to the nonprofit NGO organization. That is organization hold this 80 g certificate to provide tax exemption to the donors who donate their funds and they will get 10% tax exemption on their Gross total income of an accounting year. Here people are thinking that they will get 50% of tax exemption before the calculation of their taxable Annual Income. But its is not in such a way. 50% of amount is calculated in the amount what they have donated to the nonprofit NGO organization. And in that 50% of that donated amount, the donor shall get 10% of maximum tax exemption as per Gross total income of the Donor. To know how the donations of the donors are exempted under section 80 g Now let us see, How to apply for 80 g?. What are the steps to be taken by nonprofit NGO organizations to get this 80 g certificate from Income tax department? To get the 80 g certificate nonprofit NGO organization have to fill the FORM 10G and they have to attach the activity report for the past 3 years or the least year with the audited report right from the date of establishment or of the past 3 years. You can download the editable FORM 10G to get registered for 80 g approval from income tax department. This process may take several months, to receive the approvals.
  • 44. When you apply for 80 g you shall check yourself for the fitness of 80 g approval under the following factors. • If nonprofit NGO organization is under going with any business, then they have to maintain a separate account and should not mix the donations they receive for social cause. • Other than charitable cause the organization or its byelaw should not represent any other causes towards spending of such donation amounts or the assets and incomes of the nonprofit NGO organization. • The nonprofit NGO organization shall not be able to apply for 80 g if it supports religion based, caste and creeds based activity. • The nonprofit NGO organization should have the qualification of registration which might have been registered under Societies registration act 1860 or registered under section 25 of Companies act 1956. • Proper annual returns, accounting, book keeping should be in manner before applying for 80 g. • If you have already received the 80 g certificate, then proper renewal is must to hold such tax benefits. Income tax department has the power to approve or reject such approval upon disqualification of the nonprofit organization or dissatisfaction found by the department towards the nonprofit NGO organization activities. Documents required for registration u/s 12A AND 80G: • Dully filled in Form - 10A for registration u/s 12A registration; • Dully filled in Form - 10G for registration u/s 80G registration; • Registration Certificate and MOA /Trust Deed (two copies - self attested by NGO head); • NOC from Landlord (where registered office is situated); • Copy of PAN card of NGO; • Electricity Bill / House tax Receipt /Water Bill (photocopy); • Evidence of welfare activities carried out & Progress Report since inception or last 3 years; • Books of Accounts, Balance Sheet & ITR (if any), since inception or last 3years; • List of donors along with their address and PAN; • List of governing body I board of trustees members with their contact details; • Original RC and MOA /Trust Deed for verification; • Authority letter in favor of NGO Factory; • Any other document I affidavit / undertaking I information asked by the Income Tax department FORM NO. 10G [See rule 11AA] Application for grant of approval or continuance thereof to institution or fund under section 80G (5)(vi) of the Income-tax Act, 1961 1. Name of the institution/fund in full (in block letters)
  • 45. 2. Address of the registered office of the institution/fund 3. Legal status [please specify whether the institution/fund is- • constituted as public charitable trust; • Registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India; • Registered under section 25 of the Companies Act, 1956 (1 of 1956); • A University established by law; • Any other educational institution recognized by the Government or by any University established by law or affiliated to any University established by law; • An institution wholly or partly financed by the Government or a local authority; • An institution established with the object of controlling, supervising, regulating or encouraging games or sports and is approved for this purpose under section 10(23); or • A Regimental Fund or Non-Public Fund established by the armed forces of the Union for the welfare of past or present members of such forces or their dependants.] 4. Objects of the institution/fund and geographical area over which its activities are undertaken 5. Names and addresses of trustees/office bearers of the institution or fund 6. (i) If registered under section 12A(a) of the Income-tax Act, the registration number and date of registration (ii) If notified under section 10(23) or under section 10(23C) of the Income-tax Act, the details thereof (iii) If responses to (i) & (ii) are negative, whether any application for the same has been filed? If yes, enclose a copy of the same. 7. (a) Period of last approval, if any. Please enclose a copy of the approval (b) If any change in the aims and objects and the rules and regulations have been made since the last approval, the details thereof 8. Assessment particulars- (a) Ward/Circle where assessed and permanent account number/GIR number (b) Is the income exempt under section 10(22), 10(22A), 10(23), 10(23AA), 10(23C) or 11? (c) Whether any arrears of taxes are outstanding? If so, give reasons 9. Amount accumulated for the purposes mentioned in item (4) above 10. (i) Details of modes in which the funds are invested or deposited, showing the nature, value and income from the investment; (ii) Whether any funds have not been invested in the modes specified Printed from www.taxmann.com in section 11(5)? 11. (i) Is the institution/fund carrying on any business? If yes, give details (ii) Is the business incidental to the attainment of its objects? 12. Details of nature, quantity and value of contributions (other than cash) and the manner in which such contributions have been utilized.
  • 46. 13. Details of shares, security or other property purchased by or on behalf of the trust from any interested person as specified in sub-section (3) of section 13. 14. Whether any part of the income or any property of the association was used or applied in a manner which results directly or indirectly in conferring any benefit, amenity or perquisite (whether converted into Money or not), on any interested person as specified in sub-section (3) of section 13 ? If so, details thereof I certify that information furnished above is true to the best of my knowledge and belief. I undertake to Communicate forthwith any alteration in the terms or in the rules governing the institution/fund made at any Time hereafter Place Date Signature Designation Address Notes The application form (in triplicate) should be sent to the Commissioner of Income-tax having Jurisdiction over the institution or fund along with the following documents: (i) Copy of registration granted under section 12A or copy of notification issued under section 10(23) or section 10(23C). (ii) Notes on activities of institution or fund since its inception or during the last three years, whichever is less. (iii) Copies of accounts of the institution or fund since its inception or during the last three years, whichever is less. NOTE- Service charges 1 Lac Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844
  • 47. 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL Car Loan Services Applicant Details for salaried person • Where do you live currently? • Name of your company • Gross Monthly Salary • Where is your salary account? • Make/model (optional) • Mobile • Your Name • Email (optional) • When did you move to current city? • Residence type • When did you move to current residence? • Date of Birth • Joining date with current employer • Your Total Work Experience • Average monthly incentives (optional) • Total EMIs you currently pay per month (if any) • First Name • Last Name • Gender • Date of Birth • Mobile • Permanent Address
  • 48. • Pin code • PAN • Personal Email • Co-borrower Details • Name • Gender • Date of Birth • Mobile • Personal Email • Employer • Designation • Employer Type • PAN • Is the car new or second-hand? • How will the car be used? • Will you register your car in AHMEDABAD? • Ever defaulted on any loan or credit card? • Had loan application declined in last month? Applicant Details for self employed • Where do you live currently? • When did you move to current city? • Residence type • When did you move to current residence? • Date of Birth • Type of employment • Industry Type • Start date for current business/profession • Choose option that best describes the applicant • Latest years monthly take-home salary • Latest year Gross Total Income • Was latest ITR audited? • Total EMIs you currently pay per month (if any) • Mobile • Name • Reference ID (if any) • Email (optional) List of supporting documents- Proof of Signature Passport (copy), Driving License (copy), Signature verification letter from bank, PAN Card (copy) Proof of Employment Shops and establishments license, ITR (last 2 years), Excise Registration certificate, VAT/Service Tax registration, Sales Tax Registration certificate Proof of Identity Passport (copy), Driving License (copy), PAN Card (copy), Voter ID Card Proof of Income Latest two years Income Tax Return, Computation of income, Profit & Loss A/c & Balance Sheet with Schedules Proof of Address House Electricity Bill (latest), Passport (copy), Telephone Bill (latest), House Water Bill (latest), Postpaid Mobile Bill (latest), Employer Issued Letter Certifying Address, Registered Lease Agreement
  • 49. Proof of Age Passport (copy), SSC mark sheet, Driving License (copy), School Leaving Certificate, PAN Card (copy), Birth Certificate (copy) NOTE- Service charges 5% of loan amount after disbursement of loan Application submission fees-5000/- INR Cash deposit in SANJAY SINGH SV A/C NO (031001512202) ICICI BANK SIGRA BRANCH VARANASI SANJAY SINGH SV A/C NO (34186477910) STATE BANK OF INDIA LAHARTARA BRANCH VARANASI SANJAY SINGH SV A/C NO (196801000001727) INDIAN OVERSEAS BANK GLEN HILL SCHOOL MANDUADIH BRANCH VARANASI Call 09235103839 08090227844 08423616634 09670087461 09696386296 MCL MIZZLE CONSULTANCY LENDING (Deal in Loan/Donation/SBLC/SKR/FD/JV/LC) MCL FCRA Donation Services NGO Funding Guidelines I am pleased to inform that; Mizzle Overseas Loan Services is the consortium Funding Agency Partner for development projects. Provide Overseas Funding: Following are the types of grants/Sectors $50,000 USD to $5 Million USD, currently available: Grants: Technical Assistance* To support project that will cover two priority areas; *namely, Improving screening programs for breast and cervical cancer, and, building national radiotherapy capacity for cancer treatment To support School Water Sanitation and Hygiene program children from improved health and hygiene practices. Grants: Research* To support a small-scale, livelihood-oriented bio-energy pilot project that aims at promoting sustainable natural energy resource development to rural communities in India.