ROD-HFC-HY-02(b)
Adverse Balance Certificate to be submitted by HFCs as on 30th September every year

(To be submitted within 6 months of the end of the year or within one month of the approval of annual accounts by the Board of Directors of the company, whichever is earlier)

As on 30th September 20….


Table 1 (Rs. in lakhs)

 
Individual housing loans
Project Loans
Total
(a)
Sum aggregate of all outstanding housing loans in respect of which refinance has been availed as on 30st September , 20….      
(b)
Outstanding Refinance due to NHB as on 30 September, 20…. #      
(c)
Adverse Balance (b - c), if any      


Table 2 (To be filled in, if there is an adverse balance )

No.
Refinance Loan A/c No.
Date of release
Refinance O/s as on 30 September, 20…. #
Sum aggregate of outstd. housing loans
Adverse balance
(A)
(B)
(B) – (A)
1
         
2
         
:
         
:
         
Total
**


# The outstanding refinance as on 30th September will not show lesser balance due to repayment made in advance in the last week of September for the demand due on 1st October of the ensuing quarter

** This figure should tally with 1(c) above.


Certified that :

1.   
The figures of (a) in Table 1 above, are based on the books of accounts maintained by the company, which have been duly audited by the Statutory Auditors as on 30th September 20….
2.   
The loan accounts that were pre-closed due to shifting from fixed interest rate structure to variable rate of interest or for any other reasons and opening a new loan account of the same borrower and with the same housing unit financed as a primary security continue to be covered under the outstanding refinance from NHB. Such accounts have not been excluded while arriving at (a) in Table I above.
3.   
Book debts flagged for the purpose of collateral security/additional margin as stipulated for refinance, over and above the book debts created out of refinance, has not be counted for in the calculation of (a) in Table I above.
4.  
The loan accounts for which refinance has been taken from NHB can be distinctly identified from the records of the company. A list of all such accounts is enclosed in the format ROD-HFC-HY-03 in a compact disc / floppy diskette. The figures mentioned above, in Tables I and II above, have been verified by us from this list.
5
The loan accounts for which refinance has been claimed under Golden Jubilee Rural Housing Refinance Scheme (GJRHRS) conform to the locational criteria prescribed under the scheme.
6.  
This certificate has been placed before the ___ meeting of our Board of Directors held on _____ and they have taken note of the same vide their resolution as under : _____________



Authorized Signatory


Countersigned by
of the company [Statutory Auditors]



Note
1.       
Funds released towards prospective loans within 3 months before the half yearly statement should not be included under NHB outstanding while computing the adverse balance in view of the lag time involved in generating housing loans.
2.       
The outstanding refinance as on 30th September will not show lesser balance due to repayments made in advance in the last week before the quarter end. Kindly refer to our demand statement for refinance outstanding
3.       
This certificate should invariably be accompanied by the Statement of Flagged Loans in a compact disc / floppy diskette in the prescribed format ROD-HFC-HY-03