GENERAL MANAGER (DEVELOPMENT) / GENERAL MANAGER (OPERATIONS)

Dy. Gen. Manager 
(RRMD)

MANAGER

Dy. Manager

Asstt. Manager

S.No

Item

Authority Delegated

General

Joint Finance

I

Deferment and Postponement

Of principal & interest for one quarter only

BM

MD

II

Refixation

Disbursing Authority

BM

MD

III

Reshedulement

a)       Only of principal-1 st reschedulement with extn. in 2 yrs. LDR

BM

MD

          2 nd reschedulement (with extn. of original LDR upto 5 yrs.

BM

MD

          Subsequent reschedulement(s)

GM(OPERATIONS]

MD

b)       Of Principal & Interest

GM(OPERATIONS]

MD

 -Reschedulement with extension in LDR upto 5 years.
* Reschedulement will be allowed on documented interest rate or prevailing interest rate whichever is higher.

GM(OPERATIONS]

MD

 iv

CRE Cases

 Deferment /Postponement/

 Refixation/

Reshedulement

MD

MD

V

Stoppage of Facilities

Declaring of unit as wilful defaulter

BM

MD

VI

Legal Action (in case of default)

.

.

A.      Closed Units

.

.

          a)       To issue notice u/s 30 of SFCs Act

.

.

                   i) Doubtful & Loss

BM

MD

                   ii) Other Categories

BM

MD

b)      i) To take over possession u/s 29 of SFCs Act

BM

MD

         ii) SC/ST

MD

MD

c)       To withdraw notice issue u/s 30 of SFCs Act

BM

MD

d)       To give back possession of assets taken over u/s 29 of SFCs Act

BM

MD

e)       To file application u/s 31 of SFCs Act

BM

MD

f)        To issue notice u/s 32G of SFCs Act

BM

MD

B.      Running Units

a)       To issue & withdraw notice u/s 30 of SFCs Act

BM

MD

b)       To take over possession u/s 29 of SFCs Act.

.

.

i)        Sanctioned loan upto Rs. 150 lakhs

BM

MD

ii)      Above Rs. 150 lakh

GM(OPERATIONS)

MD

iii)      SC/ST/Joint Finance

MD

MD

c)       To give back possession of assets u/s 29 of SFCs Act

BM

MD

d)       To file application u/s 31 of SFCs Act

BM

MD

e)       To issue notice* u/s 32G of SFCs Act

BM

MD

*Requisition of Demand to collector (Recovery)

DGM(R)

MD

VII

Grant of Charges

Pari Passu charge, 2 nd charge and subsequent charges over mortgage assets

.

.

a)       2 nd charge

BM

MD

b)       Pari-passu charge

GM(OPERATIONS)

MD

VII

Change in Constitution

.

.

(a)Field Offices

As per sanctioning authority

(b)At Headquarters

GM(OPERATIONS)

MD

IX

Mutual Sale

a)       Cases in which balance outstanding in loan account of concern is upto Rs. 40 lakhs (as on date of mutual sale)

BM

MD

b)       Cases above Rs. 40.00 lakhs

GM(OPERATIONS)

MD

c)       Joint Finance Cases

-

MD

IX

Part Sale

BM

MD

Note: a)       Acceptable value will be equivalent to the MRV of the assets

b)       That by sale of part assets the feasibility and viability of the project will not impair.

Name of the Committee

Headed by

Scope of coverage

Authority delegated

1. BO Level Sale cum Negotiation Committee

BM

DGM

(i) For loan cases upto Rs.50.00 lacs if offer is equal to or more than 80% of MRV.

(ii) For loan cases above Rs. 50.00 lac but upto Rs. 100.00 lacs if the offer is equal to  or  more than 80% of MRV

Full powers for sale subject to fulfillment of criteria as per scope of coverage.

2. HO Level Sale        Committee

ED

For loan cases above Rs. 100 lacs, Company cases (under liquidation) and joint finance cases 

i) Full powers in respect of all cases  irrespective of any limit.